#paris

What do the Yellow Vests want? Frexit is one demand

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Here is the Gilets Jaunes’ (yellow vests) List of Demands. Note Frexit is one of them! CM wholeheartedly agrees on the stance on education and barring lobby groups from political circles. Note the demands with respect to banning migratory flows of those who cannot integrate with French values. Where have we heard this before?

President Macron should hope he has an invisible cloak in his wardrobe. So much for more globalism. Yet another sign of a European member state demanding nationalist interests be put before federal EU rule.

Will the mainstream media objectively report on the growing number of nations wanting to put themselves first? Or will they spin the story that the demands from nations like France are somehow different to that of the abhorrent views held by the monster in the Oval Office?

Economy/Work

  • A constitutional cap on taxes – at 25%
  • Increase of 40% in the basic pension and social welfare
  • Increase hiring in public sector to re-establish public services
  • Massive construction projects to house 5 million homeless, and severe penalties for mayors/prefectures that leave people on the streets
  • Break up the ‘too-big-to-fail’ banks, re-separate regular banking from investment banking
  • Cancel debts accrued through usurious rates of interest

Politics

  • Constitutional amendments to protect the people’s interests, including binding referenda
  • The barring of lobby groups and vested interests from political decision-making
  • Frexit: Leave the EU to regain our economic, monetary and political sovereignty (In other words, respect the 2005 referendum result, when France voted against the EU Constitution Treaty, which was then renamed the Lisbon Treaty, and the French people ignored)
  • Clampdown on tax evasion by the ultra-rich
  • The immediate cessation of privatization, and the re-nationalization of public goods like motorways, airports, rail, etc
  • Remove all ideology from the ministry of education, ending all destructive education techniques
  • Quadruple the budget for law and order and put time-limits on judicial procedures. Make access to the justice system available for all
  • Break up media monopolies and end their interference in politics. Make media accessible to citizens and guarantee a plurality of opinions. End editorial propaganda
  • Guarantee citizens’ liberty by including in the constitution a complete prohibition on state interference in their decisions concerning education, health and family matters

Health/Environment

  • No more ‘planned obsolescence’ – Mandate guarantee from producers that their products will last 10 years, and that spare parts will be available during that period
  • Ban plastic bottles and other polluting packaging
  • Weaken the influence of big pharma on health in general and hospitals in particular
  • Ban on GMO crops, carcinogenic pesticides, endocrine disruptors and monocrops
  • Re-industrialize France (thereby reducing imports and thus pollution)

Foreign Affairs

  • End France’s participation in foreign wars of aggression, and exit from NATO
  • Cease pillaging and interfering – politically and militarily – in ‘Francafrique’, which keeps Africa poor. Immediately repatriate all French soldiers. Establish relations with African states on an equal peer-to-peer basis
  • Prevent migratory flows that cannot be accommodated or integrated, given the profound civilizational crisis we are experiencing
  • Scrupulously respect international law and the treaties we have signed.

Flames-Elysées

Oh the irony. The mainstream media’s pin-up poster boy of globalization and its merits has slumped to a 26% popularity rating and rules a capitol in flames. Yet another dud prediction from those know-it-all scribes!

While journalists rarely miss a chance to embrace French President Macron for eviscerating Trump (47% popularity rating (NB Obama was 46% at the same point in his presidency)) for his refusal to sign the Paris Climate Accord, where is the admission that large swathes of French natives seem to agree with the elder statesman?

Let’s not kid ourselves. Setting fire to priceless art galleries, torching police cars and destroying national monuments like the Arc de Triomphe are hardly petty crime issues to be left to a moustache twiddling local police officer on a stroll though the neighborhood twirling a baton.

The press gladly slams Trump as a fool for his stance on global warming. Yet doesn’t Macron look the stupid one if his constituents are lashing out like this over his poorly thought out green schemes?

The irony is that total US emissions fell in 2017 and expected to be broadly flat for 2018. This despite not being tied to a global compact engineered by the biggest pack of self- serving, unelected demagogues on the planet – the U.N. Why are we listening to its environmental body, the IPCC, when it has been exposed numerous times for fraudulent misrepresentation of data and facts such that it has been forced to publicly retract such hysteria. Better to ask for forgiveness or hope the faithful will forget those hiccups, eh?

Why smash the US when those willing to be part of the Paris agreement – China and India – will crank up emissions to 2030 and beyond at much higher levels? The media stays deathly silent. Who are the real villains? Where is the outrage?

Embarrassing for Macron, even several of his first responders are also showing gross displeasure. A group of firefighters being honoured by a Macron official walked off parade in protest to the embarrassment of their captain. Some police removed riot helmets and lowered shields in front of the yellow vests. When a president loses control of state run security forces that is pretty grim.

When will the press admit they got Macron completely wrong? Popularity can only get one so far. Trudeau of Canada shows the same flaws. Utterly out of his depth. Virtue signaling works wonders for the press gallery but less for those that must bear the brunt of what bad policies ultimately create.

In summary, if the most hated political figure on the planet garners 90%+ negative news feeds, how is it a media darling can’t nudge much more than half his popularity? Who is the imbecile?

Bon chance! Macron aims to hollow out The City (of London)

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According to the French Consulate in London, there are around 400,000 French nationals living in Great Britain. ONS reports that there are 157,000 Brits living in France. A fair assessment would be because the working opportunities in the UK are more abundant than those in France. Indeed London is the 6th largest French city. Bigger than Nantes, Bordeaux or Strasbourg. London has always been the financial hub of Europe and Macron is promising to shift that to Paris. There are plenty of reasons why that won’t happen.

First, the latest survey on financial sector relevance puts London at #1. Financial sector relevance really revolves around one crucial thing – liquidity and sensible regulation that isn’t overly onerous.

President-elect Macron is discussing the idea of stealing up to 20,000 brains from London into Paris. The surest fire way to ensure that won’t happen is that the UK can easily nip this in the bud. If the EU looks to slap certain financial restrictions on banks that don’t comply then they’ll happily conduct business in places where they can. Macron should know that ‘liquidity attracts liquidity’. Put in roadblocks that inhibit it and capital will seek freer climes to operate in. UK can cover that put option simply and easily. Nothing tickles a banker’s appetite more than the ability to operate in a less restrictive environment. There is no reason a multinational company listed in Frankfurt would try to raise capital in Europe if the UK was half the cost. Goldman Sachs employs some of the best legal brains to get around any problem.

Money is more global than ever. Singapore is a good example of that. More and more robots are trading currencies, equities and commodities. ETFs abound. The financial services industry is shrinking in absolute number of employed. By way of example the number of registered securities professionals in Japan has more than halved in a decade.  So Macron can make all the half-baked knee jerk promises he likes but social media has a way of making everyone remember when it suits least.

I’m betting on Britain. National currency, national central bank and soon to be fully flexible policy setting. Speaking of currencies. Did you know that none of the bridges depicted on euro notes actually exist? They decided against on the basis that certain nations might get rubbed the wrong way if say Germany was on the 500 euro note and Rome was on the 5 euro note…that ought to tell us something.

Bon chance mon ami!

Social media & Paris shooting impact on French Presidential Election followers

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Another senseless premeditated murder in Paris. Condolences to the family. This isn’t to be accepted as a normal way of life for the French. At a time when the French Presidential election looms social media following and activity jumped. Looking at the impacts of Facebook followers after the event saw the above increases. Interestingly on Twitter, Macron saw an 8,000 jump, Melenchon around 6,200 and Le Pen apporoximately 5,700. Le Pen still holds a commanding lead in both social media forums over Melenchon. Likes and shares are relatively even between the two top runners. Unlike opinion polls which ask maybe 1,000 people, social media platform growth does give an underlying sense of mood. Le Pen’s lead should be cause for concern in certain quarters. Financial markets seem glued to opionion polls and group think. Fillon is calling for a suspension of the election. Sad to see politicians use a murder as political capital to salvage some extra campaign days.

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