This is a new take on the Andorra bank thing

The hustle hinges on the murky section 311, a provision in the US Patriot Act that grants the Treasury Department sweeping powers in relation to any bank in the world, under the guise of protecting the world’s financial system. In 2015, the provision was used against Banca Privada d’Andorra (BPA) on the grounds that it was being used to launder hundreds of millions of dollars on behalf of criminal gangs in Russia, China and Venezuela.

The film outlines how the provision is used as a political weapon to protect US interests and undermine nascent threat – such as Catalan independence. It is a forensic examination of the circumstances surrounding the bank’s closure that attempts to illustrate the scale of America’s global influence and establish the innocence of the Catalan politicians at the centre of the scandal.

Well, yes, OK, Confessions of an Economic Hit Man again.

Except there really were dodgy doin’s. How they relate to Catalan politicoes I have no idea but the base and underlying problem was still there.

5 thoughts on “This is a new take on the Andorra bank thing”

  1. used as a political weapon to protect US interests and undermine nascent threat – such as Catalan independence

    Catalan independence is a threat? Are they suddenly going to become a world superpower?

  2. BlokeInTejasInNormandy

    No Catalan independence isn’t a threat to the USA. It may be a threat to the Catalan region, or to Spain, but that’s about it.

    But what you miss, Ltw, is that this is an article in the Grauniad, and thus is based upon the reality that the USA is a nasty, racist, sexist, capitalist, colonialist, evil, superpower doing down brave minority groups everywhere and which therefore had to be attacked. Even if there was no basis on which to attack it.

    It’s just The Right Thing To Do.

    … well, for the Gnarliad…

  3. So Much For Subtlety

    n 2015, the provision was used against Banca Privada d’Andorra (BPA) on the grounds that it was being used to launder hundreds of millions of dollars on behalf of criminal gangs in Russia, China and Venezuela.

    In what circumstances would the Guardian defend a private bank with dubious customers in a notorious and distinctly non-transparent tax haven?

    Ahh, criminal gangs in Russia, China and Venezuela? Some questions answer themselves don’t they?

    Clearly the bank was guilty. There are not other circumstances in which the Guardian would think this was a bad thing. Someone has an interest in Moscow’s money.

  4. If the banking law claims are true–could a President use that to confiscate not just the wealth of Soros and Gates but the entire globo elite–100 families or 500 families –whatever it may be– at a stroke?

    If possible that would be a colossal strike against the globo elite and might be enough resources to pay off Americas financial troubles in one go.

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