US is bankrupt and has an insolvent debt of 26 trillion dollars. It is now resorting to chicanery and unorthodox means of extorting money from other countries by way of sanctions other then printing billions of petrol dollars in fiduciary issues,
US is the only country in the which illegally uses sanctions as a means to to rob other countries of billions of dollars to fill its coffer. Sanctions have always been used by US in trying to bring down adversary countries to economic destruction. But does it really work? US Imposed sanctions on China for decades from 1940s to 1970s. The sanctions might have resulted in China adopting the impromptu Great Leap Forward in the later part of 1950s for economic survival and may be the Cultural Revolution in 1960s to get rid of internal class enemies and economic saboteurs as well as the Kuomintang ( KMT ) the US Fifth Column operating in China under the direction of CIA. But the sanctions failed in its objective to raise a counter revolution to bring down the Peoples' Republic Of China ( PRC ). Instead through grit and gumption and the indomitable spirit of the Chinese people China not only survive but grow ever stronger from year to year. US also imposed economic sanctions on many other countries like Russia, Cuba, Vietnam, Iran, Venezuela and Cambodia. It didn't work for all these countries survived the American sanctions.
Then why do the Americans continue to use sanctions against other countries. There is a hidden agenda in the use of sanctions. The hidden agenda has many other objectives other than bringing adversaries down economically. It serves to bring American friends and allies under strictor American control and dominance. But the most sinister objective is that it serves as a robbing machine, a banditry organ to extort and rob from friends and foes of multi-billion dollars to fill the US coffer.
US will pick a country to sanction. Then it announced that no countries are allowed to trade or have financial transactions with the country under sanctione. This is tantamount to economic war against third countries which will be exploited, abused and treated with contempt with impunity by US. Using sanctions is US crooked ways of helping American companies to sell their products to the third countries at very much higher prices than what they can buy from the country under US sanction. Thus US is exercising extraterritorial rights through the medium of sanctions..
Under this American bill of sanctions foreign banks and enterprises are subjected to crippling US restrictions, lawsuits and gigantic fines. Companies that trade with the country or countries under US sanctions will pay to a substantial heavy fine of billions of dollars to the US government.
A Singapore based company CSE Global was subjected to a fine of 12 million US dollars to settle apparent violations of Iran sanctions by its subsidiary in 2013 for non-US goods and services lawfully rendered by CSE Global and CSE Transtel both based in Singapore. The fine was imposed by US Treasury Office of Foreign Assets Control ( OFAC ) ,
In July 2015, under a UN deal, Iran gave up its right to develop nuclear weapons and thus international sanctions was lifted. However US retained its own previous sanctions.So under this US retained sanctions any foreign banks or enterprises that transact business with Iran especially Iran's oil and gas would deemed to have infringed serious legal, political, financial and reputational risks and would be subjected to US fines of billions of dollars and US regulatory agencies as well as deprived of insurance coverage and cyber security and other future business opportunities.
US is thus wantonly and illegally exercising extraterritoriiality power against other countries. US seems to be getting away with this mafia style behaviour because it has built up a vast obscure legalistic network to impose its will on the free world economy. This is possible due to the omnipresence of the petrol dollar, unrivalled spywork and intelligence gathering and strong arm twisting and intimidation.
US is indeed using sanctions as an instrument to serve the interest of US industry and economy. The United Nation must denounce this extraterritoriality of US legislation as unlawful and formulate universal laws against the Extraterritoriality of US legislation. US adopts a deceitful outlook as a benevolent country that can only do good but which in actual fact its demonic thick wall of legislation has the precise intention to use its laws to serve US economic and political imperialism with the objective of gaining exclusive economic and strategic advantages.
Armed with this toxic legislation US will always purportedly in the fight against corruption and terrorism righteously pursue any country, entity or person legally against the alleged offender but which in actual fact is to collect illegally the sanction related fines of billions of dollars for the US treasury.
In 2014 France leading bank BNP - Paribas was fined 9 billion dollars for the fake accusation that it used dollar transfers in deals with countries under US sanctions though the transactions were perfectly legal under French law except that the payment was transited by way of U S where it was detected.
Also in October 2016 US fined Deutsche Bank of Germany a whopping 14 billion dollars although it had already paid hundreds of millions of dollars earlier to New York State. This horrific illegal fine due to sanctions may yet cause an European financial crisis.
US is imposing more severe sanctions on North Korea and is tinkling with the idea of stopping all countries from trading with DPRK either in goods or services. This is clearly aimed at China where hundreds of Chinese companies have traditional business with North Korea. Thus not only many foreign companies will be hit but Chinese companies will be hit the hardest. China is US biggest trading partner and so in threatening the economies of China it will seem like US is lifting a stone to drop on its own toes.
It must be seen that all the new bills regarding each and subsequent US sanctions are just a series of US legislative measures to curb and break down other countries national legal sovereignty and create stealthily a globalized US hegemonic jurisdiction in which US can sue anyone or any country for anything with ultimate investigative force and prime enforcement power held by the US government.
Thus the full weight of US sanctions must be seen in the light of its sinister agenda : ( 1 ) To impoverish the country under sanction and destroy it economically. ( 2 ) Using sanctions as a basis to collect billions of dollars in illegal fines by the mechanism of US legislation and US Treasury of Foreign Assets Control. In short it is trans border armed robbery. (3 ) Laying the footprint of US Exceptionalism and Extraterritoriality Power. ( 4 ) Act as fait accompli for US globalized hegemonic jurisdiction and political control. ( 5 ) Sanctions as part of the means to stop China from becoming a super power.
It is the US petrol dollar that enables US to sinisterly and illegally impose its sanctions. China, Russia and all the BRIC countries are now working hard to break the grip of the US dollar . Once the US petrol dollar loses its value and power US will rot fast and become as poor as a third world country.
Southernglory1
Friday, 8th September,2017
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