Jun 25

–  Forget Grexit, “Madame Frexit” Says France Is Next: French Presidential Frontrunner Wants Out Of “Failed” Euro (ZeroHedge, June 25, 2015)

There has been some confusion why Germany and the Eurozone are so strict in negotiating with France and unwilling to concede even to the smallest of what they deem as outlandish Greek demands. The reason is not so much whether Spain or even Italy, both countries with soaring unemployment, a lost generation and a sweeping movement against “austerity”, follow with comparable demands should Europe concede to Tsipras, but France, where the frontrunner for the next president, the National Front’s Marine Le Pen, has just warned that not only is a Grexit inevitable, but that France would follow shortly.

2 Responses to “Forget Grexit, “Madame Frexit” Says France Is Next: French Presidential Frontrunner Wants Out Of “Failed” Euro”

  1. Marilyn Gjerdrum Says:

    Of course, it was an idea that was engineered to benefit bankers giving countries no control over their currencies…….Beyond stupid, guaranteed to ruin national economies. Why they agreed to it was because it was set up ad started in a time of great growth…….it was not set up for bad times. and the fools who agreed to it thought growth would go on forever…..and growth never goes on forever.

    I am a student of the first Napoleon…..and have watched the Euro since its advent because it was an idea stolen from him, missing some important ingredients…………………..Napoleon took a bankrupt France, and when he lost his throne in 1814, France was virtually debt free…….An amazing accomplishment.

    However, Napoleon’s idea of a Continental System had ingredients the Euro was sadly missing……First, the nations that ended up in his Continental System were under his rule and currency. Second, his currency was backed with gold, not cheap words. Third, he had a good sense of budget and economics……

    A conglomeration of countries that used Enron Accounting to list their economic

  2. Marilyn Gjerdrum Says:

    Sorry, hit the wrong button….

    A conglomeration of countries that used Enron Accounting to list their economic situations was doomed to failure. For those who don’t recall Enron Accounting, I will remind them:

    Enron was a so-called energy company that kept their company showing incredible growth on the US Stock Market by creating shell corporation in which they hid growing debt.

    They would borrow $100 million dollars. They would then create a shell corporation to park the debt in there. But, they’d list the $100 million as an asset of the shell.

    Then, Enron would have the shell corporation create work orders for them from this shell for $99.9 million….. ..They did this repeatedly, and their so-called growth was incredible. Many fools borrowed money to invest in them……(I warned them) but, they only saw the endless, radical growth, not the obvious lack of reality. Greed is a dangerous emotional drive, this urge ruins more lives than any I know.

    They also lied about the energy they provided. Here in CA, our energy bills were increased better than ten fold by Enron…..for energy that was created only on paper…..

    Every possible accounting trick that could be used was put to work; some tiny countries them found them to gain buying power…..Several of which obviously joined the Euro. If one goes to the website: http://www.usdebtclock.org and then clicks on “World” at the upper left side of the page, it will soon be obvious which ones……………

    I suggest Ireland, Italy, Portugal, Spain, France, Greece, ETC.. The debt level of every Euro country is way over the top. Once a country reaches 100% of debt to GDP; that means every cent that comes in is already spent. The fact the Swiss said “no” ought to have warned any intelligent money people…..

    But, GREED took over, these small, debt laden nations all wanted buying power because they thought good times would go on forever.

    Good times Never go on forever.

    No intelligent accountant would have joined with these nations.

    Even after they crashed, the deceptions revealed, our prices have continued to be over the top, they never went down…..PG&E did very well by Enron’s lies.
    No company can grow that radically. The numbers are there for those who pay attention….. so have other energy companies.

    It was Moody’s that exported Enron Accounting to the rest of the world, and many small, hurting nations quickly adopted it.

    Go to the website: http://www.usdebtclock.org
    When you get there, click on “World” at the upper left side of the US debt page…..and read the debt numbers carefully. Interestingly, Greece’s numbers look far safer than Ireland’s…….
    There was an article published last week in the UK Guardian. I urge all interested in the world economy to read it. It was posted on this site as well: It asks if the Spanish economy is okay after all. What is essential about this article is that it lists the 4 major debt holders of Greek debt:
    They are as listed:
    Germany, France, Italy and Spain.

    Italy and Spain have nearly crashed in the last 24 months.

    France and Germany are deeply in debt………..If these 4 nations are the strongest ones in the Euro, the Euro is on life support right now……Terrifying.

    If Greece crashes, so goes those 4 nations, and with them, the Euro.

    What happens to the US economy if the Euro crashes?

    Add in Obama’s secretive and corporate serving trade deal that guarantees the loss of millions more American jobs.
    Our new medical coverage, now covered by law,demands all people buy medical insurance. No limit is put on the cost of such coverage, no consumer protection at all but one…….they have to cover everyone, regardless of how sick they are, but again, no cost constraints. Medical costs continue to skyrocket, along with insurance costs………If the consumer cannot afford or does not wish to have medical insurance, the IRS goes after them.

    The IRS has more economic power than any US government agency, it can shut down your life. It can take your bank accounts, ruin your credit…….you name it, it can do it. Now, they are the collectors for greedy gut insurance companies……Sure, they will cover you, regardless of how sick…….They can charge what they want, and their payments are government guaranteed………Free collection services! What a deal……..for the insurance companies.

    In my legal studies from my early life, I can assure you that insurance companies fund real estate loans, and most big banking deals….Banks are never the real lenders…just the agents. Now, they have a huge captive market, every citizen in the US has to buy insurance policies from them…….What a deal….for them.

    Obama ran on medical insurance for all…………..he delivered that, but with a few gaps…………..Everything he ran on, he violated………everything………
    We all have leaders who work against the working people ( who have been the base of our economy) every day. Public schools now cover history before 1650 in our high schools in a few sessions.

    What is it Edmund Burke said? A statement so profound, I took it to memory:
    “In order for evil to flourish, it is only necessary for good men to do nothing.”

    We have been too rich too long. We let the greedy guts take over. Now, it will take some real work to gain our rights back, unfortunately I will not be alive to help….I am too old and sick…..

    This is my comment in response to what I see happening to the western economy……………”Our leaders work against us every day because we were too rich for too long. We forgot how hard our forefathers had to struggle to give us our wealth……”

    Now, the Euro has a number of members who have practiced it………and all will suffer as a result.

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