Sunday, July 13, 2014

US Offers Immunity To Junior FX Manipulators In Exchange For Ratting Out Their Seniors

The US has angered Germany with delays of German gold repatriation, and alleged spying of Germany's leaders, including Prime Minister Angela Merkel.  The US has also angered France by  targeting PNB Paribas for banker misdeeds.  And they continue to prosecute London banks, deservedly so.

Meanwhile, sovereign trading partners are ignoring US and NATO-led trade sanctions against Russia and China.  Apparently, Europe values their energy sources more than any outdated traditional alliances with US exceptionalism

In this current cycle of punishing miscreant bankers, US regulators curiously are not indicting US bankers for manipulation of markets.  This will only add to the antagonism US allies have toward America.  The emperor not only has no clothes, but it is running out of friends.

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