This French Politician Wants to Use Your Savings Without Telling You

29.01.2018 • Switzerland

Olivier Perrin – The Brave Little Economist (Switzerland) –

“We have 1600 billion euros in life insurance in France and 400 billion in bank accounts. It’s 3 years of unallocated savings that is on the bank accounts. The good news is that if you are a financial intermediary you know where to find the money. 

Dear reader,

This little phrase lost in a boring speech was pronounced this week by the MP  En Marche  Amelie de Monchalin  before an audience of bankers and insurers.

She is asking them to  reallocate  part of YOUR savings to French SMEs.

But why is she asking the bankers and not you?

It’s your money all the same!

YOUR current account is theirs

From his point of view, the answer is simple. It’s not up to you to decide where your money goes but to her, helped by her banker’s floor.

Must we also specify that Madame de Montchalin worked at Axa until last year.

You understand my good sir, my good lady, finance is very complicated, it is better that you leave it to experts.

This is THE false good idea, VERY dangerous of the 21st century. This is how financial crises are made:   playing with other people’s money .

Put yourself in your banker’s place: if he saves you money as well as at the bank, he will get a big bonus … But if he loses more money, you will have lost everything but he will touch everything. even his salary, nobody will come to bother him and he will find a good excuse to continue to sleep on his two ears.

Your money he does not care … We never saw a banker go to jail.

Jean-Yves Haberer , the last president of Credit Lyonnais was sentenced to one euro of damage and interest for a bankruptcy that cost 15 billion euros to the state, that is to say to you and me … He even had the audacity to write a book to explain that he was a scapegoat! Poor darling.

And  Daniel Bouton  : the depressing president of Société Générale at the time of the Kerviel affair. The case , cost the bagatelle 5 billion euros to the bank. This will not prevent Mr. Button from receiving a hat-trick of € 730,000 a year from Société Générale.

And it happens like that on all floors!

Bankers have NO interest in being cautious.

It is not for nothing that there is 1 000 billion euros of rotten assets in European banks.

But you, your money, you know why you saved it, painfully, euro after euro. You know what it is for, why you need it. Studies, a house, an income to survive, an association that is important to you, a project of life or transmission …

It’s you who know if you can or want to take risks with your money. Not them!

Experience proves it 1000 times.

This is how we had the 2008 crisis and they still think that the same causes will produce different effects.

No one is more qualified than you to know what to do with your wealth.

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The reality of European SMEs

Today, they come to tell you that you have to  arrogate  your money towards “productive” savings and invest in SMEs in our country.

ATTENTION, they do not speak about any SME but already of important company, listed on the stock exchange and of which you should buy actions urgently.

It’s a shame and a disaster!

Yes, the fabric of French SMEs is deteriorating. That is true. We are losing our industries and large parts of know-how.

But it’s not because of funding!

Not only, French SMEs can raise funds from banks at ridiculous rates but they can also, thanks to the success of participatory finance, issue bonds to individuals … Without even going through the banks.

It’s not funding, the problem!

It is not by  pointing  YOUR money that we will help SMEs that are stifled under the loads, norms and rigidities of an outdated system and the unfair competition organized by an autistic Europe.

Amelie de Monchalin enrage that 400 billion euros sleep on your current accounts … This represents 3 years of savings exclaims it! Yes. It also represents 3 months of household consumption. Is it so shameful that families are 3 months ahead of their current account?  Do they really see no virtue in prudence and foresight?

Madame de Montchalin has taken the measure of the weaknesses of the European economy: the difficulties of Altice, the bankruptcy of the group Steinhoff (parent company of Conforama) and that of Carillion a large British service group.

All these ultra-financialized groups are literally suffocating their suppliers and the thousands of SMEs working for them.

And you would like to take our money to place it in SMEs listed on the stock market even though the markets are at their highest and their situation doubly weakened by the weaknesses of large groups and the current rise in interest rates ??

Of course there are SMEs in France and in Europe that deserve to be supported, but it’s not up to others to decide what to do with your money!

The state already takes almost half of your income in taxes … And they still want to control your savings and your current account?

It’s just disgusting to play with other people’s money.

Already 38 000 € taxed on your savings

The ECB’s monetary policy has already cost, on average, € 38,000 in savings per household  since the beginning of the crisis, and they now want to get more funds from SMEs, which are inherently risky, at the worst time, without even asking. their opinion to people who have hard earned this money.

This new boasting of public authorities and bankers of connivance is unacceptable.

It is URGENT that as many people as possible are informed in order to make the right decisions.

I’m counting on you to forward this message around you  :

  • send it to your address book;
  • Share it on Facebook and social networks thanks to the buttons at the top and bottom of this article;
  • Talk about it around you …

If you do not do it, no one will do it for you and they will win a new battle.

In advance I thank you for your help and your commitment,

To your good fortune

Olivier Perrin

-Read more at (French)-

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