Foreign Banks Bypassing U.S. To Clear And Settle International Financial Debts

Foreign Banks Bypassing U.S. To Clear And Settle International Financial Debts

The way the international trade system is set up right now, most international financial transactions must pass through the US banking system’s network of correspondent accounts.  This gives the US government an incredible amount of power… and if you know anything about the US government, you know they will extort any amount of power they can. For example, in 2014, the Obama administration fined French bank BNP Paribas $9 billion for doing business with countries that the…

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