Global Geopolitics called it, you witnessed it: The United States and Germany, though the European Union it dominates and runs, are locked in economic warfare against one another.
It’s a very dangerous game America is playing by trying to gut the largest economy in the world, the European Union, especially when nations are beginning to jump to the Sino-Soviet bloc.
German parliament’s economics committee chairman Peter Ramsauer says he believes the $14 billion fine being leveraged against Deutsche Bank is part of a long US tradition of waging trade and economic war.
- Ramsauer to Welt am Sonntag: Washington has a “long tradition” of waging trade wars, if they are favorable to the US economy, and the Deutsche Bank case is an example of that.
- “The threat to force Deutsche Bank to pay a $14 billion fine over its mortgage-backed securities business before the 2008 global crisis has the characteristics of an economic war.”
- “Extortionate damages claims” in the case are an example of that.” Continue reading
