Posted on 08/25/2016 7:58:15 AM PDT by NRx
The drama of Brexit may soon be matched or eclipsed by crystallizing events in France, where the Long Slump is at last taking its political toll.
A democracy can endure deflation policies for only so long. The attrition has wasted the French centre-right and the centre-left by turns, and now threatens the Fifth Republic itself.
The maturing crisis has echoes of 1936, when the French people tired of 'deflation decrees' and turned to the once unthinkable Front Populaire, smashing what remained of the Gold Standard.
Former Gaulliste president Nicolas Sarkozy has caught the headlines this week, launching a come-back bid with a package of hard-Right policies unseen in a western European democracy in modern times.
But the uproar on the Left is just as revealing. Arnaud Montebourg, the enfant terrible of the Socialist movement, has launched his own bid for the Socialist Party with a critique of such ferocity that it bears examination.
(Excerpt) Read more at telegraph.co.uk ...
The entire western world shell game is about to be exposed for all to see.
If you don’t hold cash, GET SOME! Plastic is going to be worthless. And it will happen all at once, in an instant, or darned close to it.
What's that you say, Madame Robinson?
Leon Blum has left and gone away.
Vive La Francais!!!!
Get out of the EU. Hopefully they will join the Germans with a joint Hollande and Merkel Roast - with a real fire.
In the past I’ve observed that the wings of the fowl seen in one of the beasts in Daniel are missing from when these are all rolled into one in Revelation and wondered if France wouldn’t finally bail on international union.
Fiat currency will be no better than plastic.
Fiat currency will be no better than plastic.
Step two is commodities and hard currency like gold and silver. It’s why I’m a junk silver junkie.
And why I bought 32 acres in south-central KY and left Seattle in 2011. It’s happening almost as I imagined, but taking longer, as I expected it would. But when it does happen it will be virtually in a blink of an eye.
Have you ever had a life changing event happen and it started with something as simple as a phone ringing. I think that is the way this will be. Markets will be doing their thing, doom and gloomers will be posting, Market analysts will be writing about the market bulls getting ready to pile on.
Meanwhile, you pull up to the gas station and notice you can’t prepay with your card. Nor can anybody else. The system is down...so you go to another station. And you haven’t quite figured it out, but the last time you used your card is the last time you ever will. So you drive home and you notice a car out of gas. And then another. You pull into the grocery store to get the milk your wife asked you to pick up on your way. There is already mayhem in the store because nobody’s plastic works and few have cash.
Tomorrow will be a LOT uglier.
Boy, that reminds me of One Second After
Nice and vivid.
There is a blurb somewhere out there about “the one hour meltdown” as well. Also, Bill Bonner has a video where he discusses that what has doomed our economy was going to a credit economy in the 1950’s and the day of reckoning could be literally any day, and it will go down like that.
The idea is that most of the “money” being spent every day is actually credit. And one day the credit will simply stop, cutting the size of the economy to a quarter what it is, in the blink of an eye.
The “money” will simply vanish.
It is HERE, and is well worth the 5-10 minute read.
Thank you.
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