Uncle Sam Just Used Its Financial Nuclear Weapon Again | WHAT REALLY HAPPENED

Uncle Sam Just Used Its Financial Nuclear Weapon Again

Authored by Simon Black via SovereignMan.com,

In August of 1945, the United States became the only country to drop nuclear bombs on an enemy.

Hiroshima and Nagasaki were largely destroyed in the blink of an eye. And the Japanese had no choice but to surrender to the Allies, finally ending World War II.

Ever since, world superpowers have been rapidly advancing weapons technology, constantly raising the bar for destructive power.

It won’t surprise you to find out that the most powerful and destructive weapon in the world, though, by far, is claimed by the United States.

The US is still the world’s dominant superpower, still the largest economy in the world. And the US dollar is still the world’s dominant reserve currency.

This means that the VAST MAJORITY of international trade and cross-border financial transactions take place in US dollars.

You get the idea. The US dollar is at the center of global commerce. Commercial banks, central banks, governments, sovereign wealth funds, and businesses around the world all need US dollars if they expect to be able to do any business internationally.

And that’s what makes the dollar such a powerful weapon: the US government can threaten foreign countries with nearly total financial collapse.

The US government realized it had this power roughly two decades ago after the September 11th attacks.

In their efforts to track down terrorist organizations and obtain intelligence, the Treasury Department began strongarming foreign banks to hand over financial information about suspected terrorists by threatening to revoke access to US dollars.

The threat worked. And a new weapon was born.

In 2010, they made some serious upgrades when Congress passed the Foreign Account Tax Compliance Act, known as FATCA.

FATCA forces EVERY foreign bank and financial institution IN THE WORLD to share information about their depositors with the Treasury Department.

And if these foreign banks refuse to comply? You guessed it. They’ll lose access to US dollars.

We’ve continued to see the US government rely on this tactic more and more over the past ten years; in 2015, for example, the Treasury Department famously hit French bank BNP Paribas with an $8.9 billion fine.

BNP’s egregious crime? They were doing business with countries that the US government doesn’t like– countries like Cuba and Iran.

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