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19-03-2023, 09:58 AM
But this time it should not only be about the financial interdependencies in the global banking system, but also about pure power politics
The USA is increasing the media pressure on Swiss banks, especially Credit Suisse, in order to oust these unloved competitors from their home market.
They would also love to have the raw material trade in Switzerland under their control, which is why they keep denigrating it in the media, and they keep finding left-wing Swiss politicians who don't see through this game and take part in this hunt.
From the US point of view, foreign large and investment banks are also undesirable in the USA, because their presence in the United States also gives them a deeper insight into the local economy and political ties.
If these foreign banks cannot be squeezed out of the market through competition, politicians will help out with lawsuits and fines against them.
Since the 2008 financial crisis, Swiss banks have paid around $7 billion in such ransoms.
That amount accounts for nearly one percent of Swiss GDP, but is just a drop in the bucket for the US given its annual deficits well over $1 trillion.
https://weltwoche.ch/daily/einmal-mehr-i...len-banke/
The USA is increasing the media pressure on Swiss banks, especially Credit Suisse, in order to oust these unloved competitors from their home market.
They would also love to have the raw material trade in Switzerland under their control, which is why they keep denigrating it in the media, and they keep finding left-wing Swiss politicians who don't see through this game and take part in this hunt.
From the US point of view, foreign large and investment banks are also undesirable in the USA, because their presence in the United States also gives them a deeper insight into the local economy and political ties.
If these foreign banks cannot be squeezed out of the market through competition, politicians will help out with lawsuits and fines against them.
Since the 2008 financial crisis, Swiss banks have paid around $7 billion in such ransoms.
That amount accounts for nearly one percent of Swiss GDP, but is just a drop in the bucket for the US given its annual deficits well over $1 trillion.
https://weltwoche.ch/daily/einmal-mehr-i...len-banke/
