When it comes to negative events that are beyond our control, we humans are notoriously quick to forget. The great financial market crisis, which quickly turned into a sovereign debt crisis in the eurozone, is hardly mentioned today. It disappeared into the mists of oblivion a long time ago.
This debt crisis, triggered by the well-known irresponsible waste of money by clueless politicians, monetized with the fiat money printer (you know: disguised taxation through inflation theft), was blamed for the disaster on the Greeks, the smallest economy in the EU, with great success by the political-media complex - some may remember the impertinent-arrogant political clown show that they themselves called the 'Troika'.
Everyone quickly forgot that most of the money was burnt by state banks and politicians, while the debt orgy went on merrily. Because how did the European Union solve this problem? With a tsunami of fresh credit ('whatever it takes'), of course, which was poured over the insolvent old credit and thus kept the inflationary bubbles alive. Where do you think elevated house prices and the everlasting stock market boom come from, even in a country like Germany, which has long since given up on its economic policy and is successfully working on winding up its industry to save the world of climate bs?
And it has continued in this tradition right up to the present day. The debt levels of the eurozone are rising and rising, while the eurozone has long been in recession due to various political shortcomings, the energy policy, the sanctions policy against Russia and the demographic situation.
The structural deficits, the ongoing weak growth in the eurozone and the migration crisis brought about by European policy are now being reflected in the elections to the European Parliament. The massive turnaround in France in favor of Marine Le Pen's nationalist party is now leading to new elections in France, which is facing a political landslide and made President Macron commit political suicide or at least try to break momentum of the movement of his political opponent by calling new elections. A procedure that these globalists have used time and again in the recent past, if you think of the examples of Austria, Canada or Italy.
This political chaos was already answered by the markets last week, which sent the euro into a nosedive and French bonds southwards. Are we really just a few weeks away from France's exit from the euro and the European Union? Capital fled to the typical safe havens: the dollar and Swiss franc appreciated massively, US government bonds and German BUNDs were the preferred safe havens alongside gold and a few selected US equities. Credit default swaps for France and interest rate spreads on German government bonds also exploded on Friday.
With her threatened exit from the EU, Marine Le Pen could end up giving the markets the decisive impetus to correctly value European debt and put it in a clean relationship to the economic performance of the eurozone and to understand the benchmark to America. To this day, the European Central Bank, together with its allied central banks, has succeeded in buying up US government bonds on a massive scale, thus tending to manipulate interest rates in the United States downwards and curbing the flight of capital out of the eurozone.
If Hungary also takes over the presidency of the Council of the European Union in the near future, the luck of the European globalists will be complete. The growing discontent of the people in Europe with this completely misguided ideological policy of the EU Europeans will soon no longer be able to be distorted by the media, it is real and it could lead to massive political and social volatility in a very short time.
Potentially the straw which breaks the camel’s back.
‘With her threatened exit from the EU, Marine Le Pen could end up giving the markets the decisive impetus to correctly value European debt and put it in a clean relationship to the economic performance of the eurozone and to understand the benchmark to America.‘
reply
Something has to free us from these Eurocrats and centralists.
reply
63 sats \ 2 replies \ @398ja 17 Jun
I'm on the fence with Le Pen.
The French, in their majority, still love the euro and the EU. She had therefore long ago given up leaving the union, and now only wants to reduce the French EU contributions.
The RN program is very socialist, for it to kind of work, she would need to be harsh on immigration, but I doubt she'll have enough leeway for it, even though in a recent speech she talked about mass deportation of illegal aliens.
Look at Meloni for example, who's now best buddy with Tante Ursula! Who would have thought?
This analysis helped me understand a lot of what's going on, the author talks about a 'Melonification' of Le Pen, lol.
Marine Le Pen has also started to undergo a process of “Melonification” — abandoning her anti-euro platform and softening her position on Russia-Ukraine and Nato. Even if her National Rally party wins France’s forthcoming elections, all the signs suggest it won’t be the disruptive force she is promising.
reply
21 sats \ 1 reply \ @TomK OP 17 Jun
I had long seen the danger that the so-called right in Europe has long since been infiltrated by the globalists, compromised like salvini or Meloni, or simply doesn't really know where it wants to go.
reply
63 sats \ 0 replies \ @398ja 17 Jun
I think that only a Milei approach can save Europe, but this is still heresy in the mainstream, especially in France!
Marine's plan is actually a nothing burger, like everyone else before her, she juggles with numbers while projecting the impression that she has discovered a secret formula. I'm old enough to know where that will lead...
France's economy and society are in shambles. To reverse course, i see no other option than leaving the EU but there's still no platform for that in France, it would be political suicide, methinks. But I hope she can at least introduce a referendum like in the UK, if/when she gets in power. More people need to be exposed to anti EU arguments.
reply