They’re going to wait until Christmas for that 
Jokes aside, I don’t know what to think about it. I looked at short-term bonds yesterday and the rates are already crazy. It’s got to stop at some point…
Now, knowing « our elites » whose only idea is « taxes and levies, » in other words the opposite of what needs to be done for growth, I’m very much afraid we’re heading in that direction. For months we’ve been hearing in the media about the x billions sitting dormant in French people’s savings accounts. So it’s in their thieving mindset.
Beyond the pure blocking and the loss of opportunity or valuation, it’s extremely problematic for ordinary people because euro-denominated life insurance funds are often where the French put money for emergencies. My parents for example, who are obviously not interested in savings that involve volatility.
I was listening yesterday to Charles Gave who explained that France spends 30% more than it generates (and therefore borrows that amount each year), the figure is crazy. Once I amused myself by calculating if I burned 500 euro bills in a bathtub while filling a wheelbarrow without stopping for a year, would I reach the annual deficit.
The answer is no, from memory we got to something like 80 or 100 billion, which shows the waste or massive embezzlement that must exist within the country and that would simply need to be stopped to get closer to balance, even though we obviously need to support businesses to start creating wealth again as well.
In conclusion: we’re not lost, we still have potential, but with such idiots, it’s not a sure thing.
Well, the article’s conclusion is to invest in Bitcoin, so I’m not sure the analysis is very objective.
A Sapin 2 would be highly unpopular and would doubly hit retirees (whose pensions will inevitably decrease). I think we’ll go through other measures targeting workers or « evil shareholders » first, such as a 40% flat tax or the end of the PEA (Plan d’Épargne en Actions).
40% we’re going to end up buying chickens and running clandestine pig farms.
We’ll get there. They will need symbolic measures on those considered rich (even if they don’t bring in anything) to make the unpopular measures of cutting back the social model (which produce tangible savings) easier to swallow.
People crying wolf are everywhere. PEA swaps, the great stock market crash, and now euro funds. If you enjoy scaring yourself, have fun. Personally, it doesn’t bother me one bit.
it will only further impoverish people, because if you have a CTO or a PEA even filled to the max, it doesn’t make you richer than millions of others, just someone who has saved.
If that happens, it will be much worse than we imagine. Not just for France, it will be the end of the European Union, which is why they’ll be ready to strip us bare on the path to the inevitable end.
What they’ll probably do is monkey money, blocking or extending repayment periods, which leads to the same point: robbing us without appearing to do so.
Not too many opinions, but people need to stop thinking about the Sapin 2 law, it’s a non-issue. Euro funds work well, even when bond prices fall, because insurers are not obligated to sell current bonds and can wait for their redemption. This mechanism collapses if everyone wants to withdraw their liquidity from euro funds at the same time, which would force insurers to sell bonds before maturity, and therefore materialize the losses. The Sapin 2 law is just there to prevent that, it’s a good thing for everyone, it blocks withdrawals and transfers for a maximum of 6 months to avoid bringing everyone down.
yes and no..
yes insofar as 90% of life insurance holders don’t understand the rate mechanism, and are content with the miserable 2% return that has been provided for years.
no if the incoming government were to consider reducing the inheritance allowance of €152k, aligning the flat tax, and more besides
If we come across someone as inspired in idiocy as our friend Jean Luc wanting to cancel the debt, the insurers are ruined in 1 week, and we never see the money again since these funds are on their balance sheet.