French authorities have made yet another monumental error in judgment after arresting Marine Le Pen’s chief of staff and bodyguard for questioning over alleged misuse of public funds to pay parliamentary assistants – the equivalent of a jaywalking ticket in terms of public opinion. By making le mountain out of le molehill, this latest debacle by French authorities is the most recent in a long list of backfired attempts to delegitimize the National Front candidate – including the refusal of French banks to lend money to Le Pen’s campaign, and the MSM’s ongoing hit-job (calling Le Pen “far-right” and “extreme” on a regular basis, for example).
These tactics seem to be working about as well as they did with Trump. Keep it up French establishment – you’ve effectively solidified Le Pen’s underdog status. In case you hadn’t noticed, your country is being burned to the ground by foreign invaders as France becomes one giant no-go zone. Instead of addressing the problem, you’ve doubled down on multiculturalism by continuing to welcome a hoard of migrants – 70% of which are “men of fighting age.”
Coincidentally, the latest French election poll has Le Pen ahead…
With Le Pen’s promise to return france to Economic sovereignty, it goes without saying that if she is elected in May, the European Union will be living on borrowed time. Frexit will happen and the ECB backstop will dissolve – considering Germany and France are it’s largest contributors. Italy’s solvency is #FakeNews with it’s 133% debt/gdp ratio, leaving the PIIGS vulnerable to the big bad wolf. I wonder if Italy’s recent legislation of “extraordinary and temporary state support” of their largest bank was a canary in the coal mine of ECB death? The fact that Germany is pissed about it may be a clue.
What then? Euro hyperinflation as confidence erodes, or a Euro split to try and avoid it? A reversion to individual currencies as the entire EU experiment fails? The Netherlands is already considering dumping the at-risk currency. If any of these scenarios start to pan out, scared money will undoubtedly flock to the usual suspects; US Treasuries and other “safe” sovereign bonds, Dollars, precious metals, US real estate, and other inelastic stores of value. I’m sure you’ve been missing a little volatility in your life, right?
Of course, the doom trade is never that simple, and most everyone got the Trump trade wrong. I’m sure the EU will find a way to cover up the carnage and pretend everything is fine, and we’ll see Dow 30K before any of that happens – so keep partying until the music stops, but don’t get caught without a chair (my most stupidest analogy to date).