French Media: What They Didn’t Tell You Last Night

21.03.2017 • The Economy

Olivier Perrin – The Brave Little Economist (Switzerland) –

Dear reader,

They did not talk about it, the journalists did not mention it. TVs and radios repeated the same messages in a loop.

Here are 10 facts that are likely to have far more weight than anything they told yesterday about TF1:

  • 7 Nobel Prize winners have spoken out against the Euro: the Euro does not work; [1]
  • The Euro makes it poorer: more taxes, less purchasing power, less savings [2];
  • The Euro only benefits the hyper-rich [3];
  • The Euro is too weak to sustain a new crisis [4];
  • The next global crisis will come from Europe according to Alan Greenspan, former governor of the US Federal Reserve [5];
  • The European Central Bank and the Banque de France bought out more debt than France borrowed: the debt became a closed circuit. The State issues, the bank buys and returns its profits to the State. Historically, it is the terminal stage before the destruction of money;
  • Without growth, the debt is not repaid: The government and the community budget should be reduced by 20 to 25% without a new expenditure and for almost a hundred years to repay the debt. The Boston Consulting Group calculated that Western countries were experiencing significant social unrest as soon as budget cuts reached 3%.
  • There is no growth in Europe.
  • The ECB has to print 5 new euros so that it will exchange one more: In 2016 for the Euro zone created 180 billion euros of growth, the ECB had to inject 960 billion euros into the economy.
  • The growth rates predicted by the candidates are neither possible nor desirable: the population in the West ages its aspirations and needs are no longer the same.

Olivier Perrin

-Read more at (French)-

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