Not that it should come as a shock to any long time readers
of my emails and blogs but Mr. “show me the data” now acknowledges the obvious:
France is indeed bankrupt:
Two things that I think are worth mentioning about this:
1. Statists
believe that the state can never be actually bankrupt because the state has the
ability to print money and tax its citizens (both of which are just 2 different
ways of doing the same thing). These
sound great when spoken but are much harder to do in real life. Citizens put up with a good deal of taxation
and currency debasement but at a certain point they rebel. If the state goes after all the people in the
same way across the board then the poor people starve and riot. If the state tries to steal mainly from the
rich, the rich simply leave.
Forever. That means no
possibility of a quick recovery. Once
the rich leave all that’s left are the poor who of course begin to starve and
then riot.
2. I
knew France’s perceived economic strength was an apparition based on cooked
books propped up by vendor finance sales.
I wrote it many times in by blog.
What most people don’t understand is that Germany, the supposed pillar
and anchor of the EU, is no better off.
Germany is bankrupt too even though they have not had to admit it
yet. Europe is bankrupt. Japan is waaaay bankrupt. The US is bankrupt and so is Russia. The admissions will be coming.
Keep in mind that the only people who are not bankrupt will be those with real money once the global Debt Ponzi finally collapses. Holders of gold and silver coins are not bankrupt and the collapse of the Ponzi will only make their holdings more valuable. Gold and silver bullion coins are outside of the corrupt global economic scam and thus exempt from fiat currency collapse antics.
1 comment:
Wow, that's quite an idiotic statement by Le Monde! How can a Frenchman state that the people can be taxed to the wazoo? A man from the same country that throws all pomp and circumstance in the celebration of the Bastille Day that conflagrated the French Revolution, after the bankruptcy of France and the increased taxation of commoners?
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