Loi Sapin 2

The whole of French wealth owned by individuals totalled 5.233 Trillion euro at the third quarter of 2017, up 8.5% year-to-year. This is the equivalent of 178,200 euro of gross financial wealth per household. It means that French households were 15% richer than their German counterparts (107,700 euro) in the third quarter of 2017. Where are going these “record” savings?

As stated by La Tribune, “Emmanuel Macron wishes the implementation of the European Banking Union – a system for joint management of bank failures – to be finalised as soon as possible in order to draw lessons from the Euro zone’s debt crisis.” Well, alright, but why is it so urgent? Is the French President aware of any disturbing report on the French banks?

The ECB wants to prevent bank runs by allowing banks to block deposits and authorise limited withdrawals, like they did in Cyprus in March, 2013. According to the institution, the deposit protection scheme is no longer necessary.

With Bitcoin, more and more people are questioning what real money is and, slowly, the whole world will jump in, and gold will benefit from it. And that is good news.

“Europe’s bank sector has grown too big and may need to shrink, possibly through mergers or failures (...) many banks in the euro area do not earn their cost of capital.” In other words, they are zombie banks, bankrupt and only kept alive by the liquidity flowing from the ECB.

Getting one’s money out of the bank – at least a large portion of it – is one thing, but what is one to do with it? The preferred investment, the most reassuring, according to observations and some polls, is real estate.

A new nail should be driven in the savers’ coffins, according to the very serious Reuters press agency: the freezing of bank accounts in order to avoid any bank run.

Let’s ask for ECBexit! Not to get out of the euro (and get back to manipulated national currencies... no, thanks!), but to drastically reduce the power of the European Central Bank.