Simone Wapler – La Chronique Agora (France) –
The spoiling laws are linked in general indifference while the authorities are busy bordering their rear in the new crisis that is coming.
After the freezing of life insurance policies in euros to stifle any public debt crisis, the authorities are putting in place the possibility of freezing bank deposits to stop a crisis in private debt.
Is it the great reconciliation with reality that begins in the markets? Equity indices have been hesitant since last week.
At the beginning of July, the Autorité des Marchés Financiers publicly expressed its concerns.
“We do not understand well the increase in stock valuations (…) High valuations and low volatility do not seem to reflect the level of economic growth nor the ambient uncertainty, including geopolitical
Stéphane Gallon, chief economist of the AMF
It is not just the actions that cause concern.
Recently, some good souls were also concerned about the amount of private debts – that of households and businesses – present in the economy in France, Europe and the United States. Roughly speaking, current levels flirt with those prevailing in 201 just before the financial crisis broke out.
The Banque de France has just published the debt of the private sector. It reached 129.6% of GDP and in ten years it increased by 34 percentage points of GDP, which is a rise close to that of public debt, which rose from 66% of GDP in 2007 to 99% in early 2017.
The 2008 crisis erupted due to overindebtedness of US households. 10 years later, public debt AND private debt have returned to unsustainable levels, creating wealth not following the pace. With a difference: we will no longer be able to make the coup of the States that save the banks and vice versa with free credit.
Behind the scenes, our great financiers know this.
For this reason, in an ultimate attempt to save their intrinsically dishonest monetary system, the authorities are preparing aBill to freeze bank deposits to prevent leakage
If markets decline, the illusions created by free and infinite credit risk quickly dissipate. Free money or free credit create no wealth.
That is why this bill is being debated at this very moment, while markets are showing some disturbing signs of running out of steam.
For years, dear reader, I am preparing you for this risk. This was the theme of my bookLow hands on your money, Published in 2013 by Editions Ixelles.
This is obvious to anyone who wants to look beyond appearances. Inflation, this tax that gnaws savings to save institutions and individuals over-indebted (states, banks, large companies, insolvent consumers) is not there. To get out of it, the authorities in need to take the money where it is: yours, on your bank account.
Already, at the French level, the Sapin 2 law, which provides for the possible freezing of life insurance contracts, made it possible to cover the risk of a public debt crisis. This new law planned at the European level, providing for the freezing of bank accounts, covers the risk of a private debt crisis.
To discover what danger is again threatening the banks and therefore your deposits,click here
How can you save your savings from the disaster? You know that we advocate putting some of your cash in physical gold. Gold is a real currency for millennia and it is nobody’s debt.
It is now the only asset whose prices are behind compared to the senseless valuations of equities, bonds and real estate.
Here is what my colleague Graham Summers, the trading specialist in our letterCrises, Gold & Opportunities
“We posted a decline early last week, Monday and Tuesday, with gold falling to $ 1,280 an ounce. It then rebounded late Tuesday to finish the week down by only 0.06%.
I anticipated a decline somewhat above $ 1,275 per ounce.
The bad news is that because of this rapid decline, gold remains slightly overbought (…) its price remains in a kind of “no man’s land” between $ 1,280 per ounce and $ 1,300 per ounce.
In all likelihood, this opening week should not give rise to significant movements. However, the general trend is upwards to $ 1,325 per ounce. In addition, I expect thatGold is well above $ 1,350 per ounce at the end of September“.
It is now,While the ticket is not expensive, Which must be mounted in the great gold train that has been shaken since 2000. Yes, 2000, remember, Internet market crash, the beginning of the great madness of falling interest rates and “war Against terrorism “. Gold was worth $ 250 an ounce. The great train of gold which has been shaken at this moment is far, far from having arrived at the station, that of a new honest monetary system.
“Politically correct” and “financially correct” walk together
I leave you now with Bill Bonner who, having given you the secret of the chicken in the jar according to the order of General Lee, tackles the deblocking of historical statues and the politically correct.
Ferghane Azihari, for his part, explains to you how bitcoin and other private currencies competing with those of the central banks could bring our great financiers to more discipline