15 November 2015 (12:07 UTC-07 Tango 01)/24 Aban 1394/02 Safar 1437/04 Ding-Hai (10th month) 4713

“We have now reached a watershed moment in Britain’s competitiveness as an international banking center. The balance of push and pull factors, including tax and capital treatment, unilateral and extraterritorial regulation and overall uncertainty, are weighing heavily in boardrooms across the industry.”-Anthony Browne, British Banking System

The British Banking System (BBS) admits that the center of the world’s banking system, London, is losing power.  Many United Kingdom banks are shifting focus to places like Hong Kong and Singapore, to get closer to the emerging power currency the Chinese yuan (RMB).

Why is this important to the U.S. dollar?  It’s called the petrodollar system, created by the U.S. in 1973 (note that is when oil prices started skyrocketing), is actually centered in London.  The Nixon created petrodollar deal involves the New York Mercantile Exchange (aka NYMEX, aka Commodities Exchange.  Now controlled by CME Group), and London’s International Petroleum Exchange, or IPE.

THE GUY IN THE BELOW 2014 VIDEO PODCAST SPENDS 21 MINUTES ON A DIATRIBE BEFORE FINALLY EXPLAINING THE PETRODOLLAR CONNECTION TO TERRORISM, I MEAN THE WAR ON TERRORISM.

According to the BBS the main reasons British banks are turning to Asia are increased British fines (for being caught breaking laws), constantly changing tax laws and an increase in decreasing profits.  Essentially it’s their own fault for not playing by the rules and chasing away their own customers, but it could affect how the world buys its oil through the U.S. petrodollar system.

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