France Calls for the END of U.S. Dollar Reserve Currency!


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France hits out at dollar dominance in international transactions
US authorities fined BNP Paribas $9bn for helping countries avoid sanctions.
Michel Sapin, the French finance minister, called for a “rebalancing” of the currencies used for global payments, saying the BNP Paribas case should “make us realise the necessity of using a variety of currencies”.
France’s BNP Paribas pleaded guilty Monday to concealing billions of dollars in transactions for clients in Sudan, Iran and Cuba in violation of U.S. sanctions and agreed to pay $8.9 billion in fines, according to the Justice Department.
The agreement includes a rare year-long suspension of the bank’s ability to convert foreign currency into U.S. dollars
Foreign Exchange: Saddam Turns His Back on Greenbacks
Sanctions dodge: India to pay gold for Iran oil, China may follow

Sources:
http://www.ft.com/intl/cms/s/0/883e7912-0513-11e4-b098-00144feab7de.html#axzz36kR0uTVQ
http://www.washingtonpost.com/business/economy/frances-bnp-paribas-to-pay-89-billion-to-us-for-money-laundering/2014/06/30/6d99d174-fc76-11e3-b1f4-8e77c632c07b_story.html
http://content.time.com/time/magazine/article/0,9171,998512,00.html
http://rt.com/news/iran-india-gold-oil-543/


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