Sugar Daddies to Dictators

[faludeh_shirazi]

Sugar Daddies to Dictators

Free Iran atActivistChat.com

November 19, 2003 The Wall Street Journal Mike Gonzalez

"Follow the money" is an old adage of American journalism, and it means that economic interest will eventually explain much human behavior. That France opposed the removal of Saddam Hussein because he owed millions to French banks adheres to this theory, for example. Less well known, but much more troubling, are key French financial links with other U.S. enemies around the globe. They raise the possibility that the Franco-American conflict over Iraq was just a beginning.

For France was not just Baathist Iraq's largest contributor of funds; French banks have financed other odorous regimes. They are the No. 1 lenders to Iran and Cuba and past and present U.S. foes such as Somalia, Sudan and Vietnam. This type of financing, incidentally, is shared by Germany, France's partner in the pro-Saddam coalition. German banks are North Korea's biggest lenders, and also enjoy that dubious status with notorious rogue states such as Syria and Libya.

But France is the most active. In Fidel Castro's sweltering gulag, French banks plunked down $549 million in the first trimester this year, accounting for one-third of all international credit to Cuba. The figure for Saddam's Iraq, where the opposition was gassed and buried in mass graves, is $415 million. But both of these pale in comparison to what French banks have lent Iran , which is building a nuclear arsenal: $2.5 billion.

The figures come from the Bank for International Settlements (BIS) in Basel, and were cobbled together and interpreted by Inigo More for Madrid's new hard-hitting think tank, the Real Instituto Elcano. As Mr. More says, "one could think that Parisian bankers wait for the U.S. to have an international problem before taking out their check books." His report can be read at realinstitutoelcano.org.analisis/360.asp.

Mr. More told me on the telephone that the figures are statistically significant. French banks seem to be almost anywhere U.S. banks are absent. They lend in 57 countries where the U.S. is not present, and are the main lenders in 23 of those.

The report does not bode well for Franco-American ties in the foreseeable future, and it offers additional reasons why Dominique de Villepin really ought to stop using the phrase "our American friends" every time he talks about the U.S., as he did again this week when he called on the U.S. to leave Iraq now. Nobody believes Mr. de Villepin thinks of the Americans as friends and he comes out sounding slippery and insincere. As French foreign minister he has helped craft a policy that is inimical to U.S. interests, but one that is in keeping with what France is becoming as a nation.

The policy of offering France as an alternative to the U.S. has had a deeply corrosive effect on the political relationship this year, something that will only increase as the U.S. continues its war on terrorism and as President George W. Bush enunciates a clear, idealistic and long-term policy of expanding freedom around the world.

But, as the banking figures attest, this vision of France extends beyond politics. Other evidence suggests that it has become deeply embedded in the French psyche and encompasses not just finance and politics but also culture, media and almost every other human activity. France, in all its manifestations, positions itself as an alternative to the U.S., and expects to profit from it.

In a small but telling example, it often shocks journalists newly hired by Agence France-Presse, especially non-French ones, to hear from veterans that the press agency must present the news from a "non-Anglo-Saxon perspective" -- that this is what clients want. Most seasoned journalists ask what that could possibly mean -- what is the "French perspective" in presenting who, where and how? It doesn't take a journalist without ideological blinders long to realize that what clients will use are the dispatches that are fastest, most accurate and well written.

French movie directors likewise go out of their way to position their product as the "un-cola" (or in this case the "un-Schwarzenegger.") In this industry, at least, it is clear that selling the "non-American" alternative has been a disaster. The plots of French movies can hang on a raised eye-brow or a twitched lip. The denouement, however, can come too late for the three people in the audience, who have fallen asleep by then. The result is that Hollywood rules the planet.

With banking the BIS does not say how profitable or competitive lending to dictators and demagogues has made French banks. But it's worth mulling the chicken and egg question here. As Mr. More suggests, perhaps in jest, it could be not that one should follow the money to discover French policy, but that the money has followed French foreign policy.

As with every country, some of France's lending practices can be explained away by its colonial past. It is preponderant in francophone Africa, while the U.K. is Asia's main lender and Spain Latin America's (edging out the U.S. even in Mexico). The past could explain the leading position French banks have in the communist dictatorships and kleptocracies of Vietnam, Laos and Cambodia.

But no colonial linkage could explain Cuba (a colony of Spain), Iraq (Britain), Sudan (Britain) or Somalia (Britain and Italy). There must be something else.

Mr. More offers that it could be French "universalist thinking." U.S. banks could be restrained by laws and conventions against lending to certain countries, for example. This is then where French banks find a niche. Leaving aside the pro- and con- positions on whether sanctions have proved to be ineffective, at least the policy that produced them is not amoral. The niche explanation points to how pervasive the positioning of France as an alternative to the U.S. has become.

It is something not just for U.S. policy makers to reckon with. The rest of Europe, which has not asked to fight this battle (nor was it asked by Paris whether it wanted to), must also deal with the consequences.

Write to Mike Gonzalez at mike.gonzalez@wsj.com

[anniegetyourgun]

As soon as I saw the headline, I knew it had to have something to do with the French.

[livius]

French banks seem to be almost anywhere U.S. banks are absent.

What an interesting article. Bump.

[knews_hound]

WOW

Stunning implications on the future of the EU, our relationships and the fate of Europe ping.

Your thoughts?

knews hound

[observer5]

I always know the French are arrogant morons, but that are outright slime-buckets is somewhat new to me.

The French suffer from a cronic inferiority complex, ever since Adolf kicked their butt. The remain this mediocre country that is only known for that big tower.

[Travis McGee]

Phoque les phroggies!

[Ooh-Ah]

Also with this article:

Financing the Axis of Evil

Some countries financed by France but not by the U.S. In bold, countries in which French banks are the leading lenders.

	Total loans, in millions of dollars	France's contribution in percentage terms	France's contribution (in millions of dollars)
Somalia	44	100	44
Djibouti	108	91	98
Sao Tome	9	89	8
Burkina Fasso	245	89	217
Madagascar	768	87	670
Burundi	82	87	71
Mali	282	77	217
Benin	89	70	62
Mauritania	179	69	124
Comoros	13	62	8
Rwanda	45	56	25
Sudan	332	53	177
Lesotho	27	52	14
Saint Vincent	367	51	186
Togo	130	40	52
Mozambique	646	37	239
Central African Rep.	20	35	7
Niger	49	31	15
Cuba	1,801	30	549
Laos	39	23	9
Cambodia	54	20	11
Vanuatu	122	17	21
Syria	514	16	80
Dominica	124	15	19

Source: Real Instituto Elcano

[JRandomFreeper]

Nobody believes Mr. de Villepin thinks of the Americans as friends and he comes out sounding slippery and insincere.

France in general is parochial and naive when it comes to international politics. Modern history proves this since the little fiasco in Indo-China. When you have such a small population of people who are narsisstic and so self-important that it has become a caricature... well, what can you expect?

What ever became of their 'aircraft carrier' ?

/john

[knighthawk]

With a little luck I am outta next year.

[talleyman]

very interesting - bump!

[WileyC]

I've always thought that newly freed regimes (as long as it's a truly clean break, such as in the new Iraq) should repudiate all debts incurred by the former government.

Some would argue that this would hurt the new governments ability to attract loans and aid, but quite the opposite is true. Who's a better credit risk: a nation saddled by hundreds of millions of dollars of debt, or an oil-rich nation with no debt?

This policy, if backed by the freedom-loving nations of the West, would mean that banks/countries would be much more leery of loaning to corrupt regimes in the future.

[lilylangtree]

Aren't the fabulously wealthy de Rothchilds huge French bankers from an old European family and do they play a part in the French banking policies?

[newbieO1]

Rothchilds commercial bank was forcibly nationalized by Mitterand. The family is now back but is active in investment banking, which is a very different business.

[Stultis]

Le Ping du Perfidie Française!

MUST READ!!

[Grampa Dave]

Thanks for posting this.

The answer on how to handle this problem is a simple one.

Where do the French get the money to finance these terrible dictators and terrorists?

The answer is simple from the big French businesses looking for newer markets.

How do we stop this from happening:

The answer is a simple one.

Boycott French Products, services and companies. When they have no money to finance evil, the financing will stop!

Boycott their products, services, companies and don't go on vacation to their $hitty country.


French Products to Buycott

Make it a lifestyle to avoid French products or products made by what appear to be a non French company in America. The reality is that many of these companies like Wild Turkey are owned by the French.

Let them fear the American Street---our combined wallets.

"France has burned too many bridges!"

Lets keep burning those bridges that the slimey and worthless frogs keep trying to build post Iraq.

$crew the $limey Frogs with a Boycott and no vacations in Slimey Frog Land!


French Products to Buycott

We can resist their wines which usually come in behind the good Napa Valley Wines and Australian wines in blind tasting without French Judges like in the Winter Olympics.

We can do without French Products and services for the rest of this decade. Here is a list of French companies and their products to avoid for the rest of this decade. Please keep this list and send it to your relatives, friends and fellow conservatives via e and snail mail!

*New additions to the list.

Air France

Air Liquide

Airbus

Alcatel - Based in Paris France, Provider of communications equipment, including ADSL equipment, terrestrial and submarine optical networks, public switching, fixed wireless access and intelligent networks.


Allegra (Allergy Medication) - Produced by Aventis Pharmaceuticals based in Strasbourg, France

Aqualung (Including: Spirotechnique, Technisub, US Divers, and SeaQuest)

AXA Advisors

*Bacou-Dalloz-Makes Industrial protective devices

Bank of the West - Owned by BNP Paribas

Beneteau (boats)

BF Goodrich - Owned by Michelin

BIC (Razors, Pens & Lighters) - Started in 1945 by Marcel Bich. Originally based just outside of Paris. Began trading on the Paris Stock Exchange in 1972. 40.5% Publicly traded. Bich family still owns 33.5%.

Biotherm (Cosmetics)

Black Bush

Bollinger (Champagne)

*Browning Firearms**

Car & Driver Magazine

Cartier

Chanel

Chivas Regal (Scotch)

Christian Dior

Club Med (Vacations) - Owned in part by Paris based CDC (Caisse des Dépôts et Consignations)

Culligan (owned by Vivendi)

Dannon (Yogurt & Dairy Foods)

*Danone -Lea and Perrin, Evian and other food/water

*Decatholon Super Sport Stores or MVP Sport Stores*

* Dassault Systemes-(CATIA design software)*

DKNY - LVMH acquired 100% of Gabrielle Studio Inc., the privately owned licenser of Donna Karan trademarks back in 2001.

*DMC THREADS

Dom Perignon

Durand Crystal

Elle Magazine

*Emile Henry French Cookware

*Enertec makes high speed recorders used in Recon aircraft p>Essilor Optical Products

*Essilon- Varilux Progressive Lenses for eye glasses

Evian

Fina Oil - Billions invested in Iraqi Oil fields -FINA GAS STATIONS IN THE UNITED STATES ARE NOT FRENCH-OWNED AND ARE NOT PART OF TOTAL-ELF-FINA ... FINA GAS STATIONS ARE OWNED BY ALON ISRAEL OIL COMPANY ..

First Hawaiian Bank

George Magazine

Givenchy

*Grey Goose Vodka

*GroupeSEB owns Krups, Moulinex, Roweta and Tefal Cookware

*Groupe Shneider, owner of Modicon and Square D

*Guerlain Fragrances

*Hachette Filipacchi owner publisher of many magazines sold in the USA. See the list below:***

Hennessy

Houghton Mifflin (books) International Herald Tribune - 181 ave Charles-de-Gaulle - F-92521 Neuilly - FRSource:World Business Council for Sustainable Development '00 [Domain Registration], [Corporate Profile]

Jacobs Creek - Owned by Pernod Ricard since 1989

Jameson (whiskey Owned by Pernod Ricard )

Jerry Springer (talk show)

Krups

****Lagardere****

Lancome

*Lea & Perrins a product of Danon

Le Creuset (Cookware)

L'Oreal (Health & Beauty Products)

Louis Vuitton

Marie Claire

Martel Cognac

Maybelline

Méphisto (Footwear & Apparel)

Michelin (Tires & Auto Parts) - Their phone number is: (33) 1 45 66 15 53 in France

Mikasa Crystal and Glass (purchased by ARC int'l in 2001)

Moet (Champagne)

Motel 6 - 33, Avenue du Maine- 75755 Paris Cedex 15 France

Motown Records

MP3.com

Mumms (Champagne)

Nissan (Cars) - Majority owned by Renault

Nivea

Normany Butter

Parents Magazine

*Perrier

Peugeot (Automobiles) - Pronounced "Pooh Joe", must be French

Pierre Cardin

Playstation Magazine

ProScan - Owned by Thomson Electronics, France

Publicis Group (Including: Saatchi & Saatchi Advertising)

RCA (televisions & electronics) - Owned by Thomson Electronics, France

Red Magazine

Red Roof Inns - Owned by the Accor group based in France

Renault (Automobiles) major owner of Nissan

Road & Track Magazine

Roquefort Cheese - All Roquefort cheese is made in France

Rowenta (Toasters, Irons, Coffee makers, etc)

Royal Canadian

Salomon (Skis)

Seagram's Gin

Sierra Software and Computer Games

*Sodexho Alliance* French Food Caterer for the US Marines

Sofitel (Hotels) - Owned by the Accor group based in France

Sparkletts (Water) - Owned by Danone, based in France

Spencer Gifts

Sundance Channel

Taylor Made (Golf)

Technicolor

T-Fal (Kitchenware)

The Glenlivet (Scotch) *Top Tobacco - Dist. by Republic Tobacco L.P., Glenview IL, made in France

UbiSoft (Computer Games)

Uniroyal

Uniroyal Tires - Owned by Michelin

Universal Studios (Music, Movies & Theme Parks) -

Universal Studios is owned by Vivendi-Universal, headquartered in Paris France

USFilter

Veritas Group

Veuve Clicquot Champagne

Vittel

Vivendi - Vivendi Headquarters, Paris France

Wild Turkey (bourbon)

*Winchester Firearms (US Repeating Arms)**

Woman's Day Magazine

Yoplait - France-based Sodiaal owns a 50% stake of Yoplait

Yves Saint Laurent

*Yves Rocher Cosmetics

*ZigZag (tobacco papers and roller products)*

Zodiac Inflatable Boats

*New additions to the list thanks to Freepers. If you have an addition, Freepmail me with the URL showing French ownership.

** Sad news but these two companies are owned by the Belgian Company Herstal, (French Light)

***List of 18 magazines sold in USA by Hachette Filipacchi with an estimated 50 million readers: American Photo, Boating, Car Stereo Review's Mobile Entertainment, Cycle World, ELLE Decor, ELLEgirl, Flying, Home, Metropolitan Home, Popular Photography, Premiere, Sound & Vision, Travel Holiday, Woman's Day Woman's Day Special Interest Publications.

****Lagardere owns the Virgin Megastore group in France, which it bought from Richard Branson three years ago. Its Hachette media division publishes a battery of magazines including Elle , see *** Hachette Filipacchi above. Lagardere also has a stake in the Airbus manufacturing operation. The company is capitalised at over €5bn.

[nopardons]

BTT

[SantosLHalper]

*ZigZag (tobacco papers and roller products)
*Awww, Come on dude now you'r harshing my buzz

[Grampa Dave]

LOL: "*ZigZag (tobacco papers and roller products) *Awww, Come on dude now you'r harshing my buzz! One of our freepers who used to use ZigZag papers alerted me to this latest French product acquistion.

[jjm2111]

"Phoque les phroggies!"

ROFLMAO!!!

[GHCubana]

In Fidel Castro's sweltering gulag, French banks plunked down $549 million in the first trimester this year, accounting for one-third of all international credit to Cuba.


Those are millions given by the French to support the genocide against the Cuban people making the French partners in crime with dictator Castro. Another reason why the US embargo law against Cuba is a good policy. Thank you Bush and thanks to all Americans that refuse to support the Hitler of the caribean Fidel CaSStro.
NO US WELFARE FOR FIDEL.