Posted Oct 19, 2014 by Martin Armstrong
The greatest problem with prosecutors in the USA, they are totally ignorant of the implications that result from their attempt to win at all costs. Attacking foreign banks and threatening them to be disbarred from conducting transactions in US dollars is driving the world into a no choice situation where we will see a one world currency sooner rather than later. Prosecutors think they can have power, but all they are doing is destroying the world economy. Transactions will need to be done in any currency other than dollars.
The demands on Standard Charter may force up to 8,000 small business operations in UAE alone to be shut down. This is turning into throwing out all small to medium-sized companies as large banks only deal with big companies. Job growth comes from the small to medium-sized companies and they are the ones being wiped out.