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The State wants to capture our savings to finance its climate and AI project
The State wants to capture our savings to finance its climate and AI projectGeolintel - February 27, 2024
Bruno Le Maire insisted during his speech at the Davos forum on the need for the European Union to pursue a more ambitious industrial policy. He called on Europe to be aggressive in responding to the American climate investment plan, the Inflation Reduction Act.
“The United States has decided to invest to combat climate change, and that is a good thing. But Europe must do the same, through a flexible and ambitious industrial policy.”
“I am not talking about protectionism but about defending our economic interests. The key question is how to put climate first. We have to invest in chips, but it’s compatible with American investments, with Chinese investments.”
“To keep a powerful European industry, and even take advantage of climate change, investments must be put on the table, both private and public. It is essential, for example, to achieve the union of capital markets, it is the only way to raise sufficient funds and to offer industrialists the means to make their investments.”
Europe is currently working to establish a single capital market across all member states to unlock funds to boost growth and open up investment opportunities for citizens, while ensuring a high level of protection of investors.
This new source of financing will help European countries return to the level of growth they had before the crisis, while reducing the unemployment rate.
Capturing French savings to finance the ecological transition and AI.
A jackpot of 35000 billion is sleeping peacefully in accounts that Davos agents want to steal. They allow themselves and dare everything, they are working on ways to extract money, not from taxpayers, but from savers.
We need to raise tens of billions of euros to finance our prosperity explains Bruno the Mayor, but which one, theirs or ours?
We must ask ourselves the question of the appointment of the economist Emmanuel Moulin to Matignon.
Emmanuel Moulin Director General of the Treasury received in Bercy representatives of the Treasurys and Ministries of Finance of Spain, Ireland, Italy, Sweden and the Netherlands to discuss the Union of financial markets capital and the way in which it can concretely improve the financing conditions of our companies to enable them to face the challenge of the double ecological and digital transition.
Emmanuel Moulin: "I stressed the need to focus, under the upcoming European mandate, on a reduced number of truly transformative actions to: better mobilize the abundant savings of Europeans, support the emergence of pan-European champions , relaunch the securitization market. I take away from this exchange a shared and strong desire to prepare an ambitious agenda for the next European mandate.
Europe does not have the financial means to carry out its globalist project, it does not have sufficient financial reserves. Without this money there will be no artificial intelligence, this turning point will be at our expense as usual. Putting European savings to work means coveting these 35 billion. Bruno Le Maire proposed the creation of a “European savings product” with the EU states that wish it, in order to mobilize private capital in the service of growth.
“Let us launch a European savings product in 2024, the characteristics and performance of which we will define with the voluntary states.”
“There is a lot of impatience in me. I am not coming to Ghent to meet my Finance Minister friends to have a chat.” “I am not coming to publish the 10th, 15th or 20th press release on the Capital Markets Union in which there is nothing or almost nothing”
Meeting of the Twenty-Seven in Ghent (Belgium) February 23, 2024.
Only one response is possible from the French, and that is to say no to the despoliation of our economies. They are so panicked that they dare to ask us to finance their prosperity with our money. This world is getting crazier and crazier.
Oppose this project if you want to keep your money, the State just has to manage our taxes well instead of distributing them as gifts to friends.
NB: NATO costs us 60 billion per year, the reconstruction of post-Covid Europe costs 75 billion and aid to businesses costs the State 160 billion per year, a total of 295 billion which is missing to finance our country.
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Cash limit of €10 throughout the European Union
Cash limit of €10 throughout the European UnionInsolentiae – Jan 24, 2024
War on cash.
The big commission in Brussels, the EU, has decided to limit cash payments to 10.000 euros, and it's coming soon!
For us, in France this will not change anything because French legislation was already more than severe in its fight against cash since we have not been able to pay more than 1 euros in cash at a merchant for a long time. We must fight against money laundering and the financing of terrorism, don't we?
But this was not yet the case among certain European neighbors who are much more open to species, particularly Germany and Austria where species are culturally very used.
Using cash and not contactless payments has become an act of resistance and subversive, simple, peaceful, but still subversive.
The modest Norman attic economist that I am remains very favorable to cash (with obviously certain limits) because a note circulates much faster than the same sum coming from account to account. Cash is not really stored, it is used. The speed of circulation of 20 euros in notes is much faster than the same digital amount.
If you understand this message, you are the resistance to the society of absolute control that the psychopaths of Davos dream of.
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SG, BNP Paribas and Crédit Mutuel: Pooling of ATMs
SG, BNP Paribas and Crédit Mutuel: Pooling of ATMsFrance Evening - Jan 17, 2024
Doing better with less: Société Générale, BNP Paribas and Crédit Mutuel Alliance Fédérale (which also owns CIC) announced on Thursday the commissioning of the first joint ATMs, with lower costs and a reduced number of machines.
“Cash Services, the new local banking service offering shared by the four banking brands BNP Paribas, Crédit Mutuel, CIC and SG, is starting the deployment of around sixty sites throughout France,” announces their joint venture 2SF in a press release .
The first automatic teller machine (ATM), dressed in black and displaying the Cash Services logo, has been under test since November 22 at the exhibition center in Mulhouse, in Haut-Rhin. It has since been joined by six other sites, all excluding bank branches.
The customers concerned are those of BNP Paribas, SG, merger of the Société Générale and Crédit du Nord networks, the 14 regional banks (out of 18) of the Crédit Mutuel Federal Alliance as well as two independent banks of the Crédit Mutuel group, Crédit Mutuel Océan and Crédit Mutual of Maine-Anjou and Basse-Normandie.
Concretely, a Société Générale customer will, for example, be invited to withdraw money from a Cash Services ATM attached to a BNP Paribas agency, and vice versa.
After recognition of the card, each customer of these networks will find their bank's own interface on the ATM screen. Any other customer, of Crédit Agricole for example, will operate through a Cash Services interface.
The machines will be able to offer a wide range of services, such as check or coin deposits.
5.000 fewer ATMs
“French banks are evolving to meet the needs of their customers. Also, if the use of cash decreases, they remain vigilant to ensure that all French people have access to it without difficulty,” underlines the French Banking Federation (FBF).
At the end of the deployment of this pooling project, planned for 2026, the Cash Services network will have 7.000 sites (5.000 agencies and 2.000 excluding agencies), or 30% less than the number of current sites, around 10.000.
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Who directs our leaders? The World Order by Eustace Mullins
Who directs our leaders? The World Order by Eustace MullinsEquality and Reconciliation - Nov 03, 2023
In this 2005 interview (Mullins died in 2010) devoted to his spiritual father Ezra Pound, who trained four Nobel Prize winners, Eustace Mullins denounces with surgical precision the power that is both excessive and criminal of the Bank.
Mullins delves his analysis even further into the roots of this deep power called the Federal Reserve: it is at the center of American monetary policy, its aggressive geopolitics and the wars that engulfed the XNUMXth century. Mullins also unmasks the Zionism behind American policy.
A video, subtitled by E&R, rich and informative to understand the mechanism which led to the current situation.
“It is no more “federal” than the Federal Express company. And she has no “reservations”. It does not need reserves because it prints its own money. If you print your own money, what’s the point? Just turn on the printer and create 10 billion dollars!
Finally, it is not a “system”. It is called the “Federal Reserve System” but it is not federal, it does not have reserves and it is not a system. I am the only one in the world to have defined it, in my work, as a crime syndicate.
And that's what he is: a crime syndicate! Like the mafia, which is one of its subsidiaries. As well as the CIA and all the crime syndicates that depend on the Federal Reserve System. A central bank is a group of bankers who exercise complete control over a country's economy. They print their own money, as much as they want, and it ends up worthless... through speculation... A central bank is designed for speculation.
The Fed system was set up solely for speculation. Its creator was Paul Warburg, a partner at Kuhn, Loeb & Co. in New York, who, incidentally, financed the communist revolution, the Hitler revolution, and Japan's entry into World War II...”
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Why are banks so reluctant to withdraw funds?
Why are banks so reluctant to withdraw funds?TVLibertes - Oct 21, 2023
Banks: nothing is going well! - Politics & Eco n°408 with Jean-Pierre Chevallier - TVL
Are French banks under threat and why are they so reluctant to accept withdrawals from their customers?
A study of the accounts of BNP and Société Générale shows that they lend their clients' deposits well beyond their own funds. In the event of a crisis, this can cause a sudden withdrawal and bankruptcy as with SVB. In addition to this risk, the accounts show, in the off-balance sheet, masses of derivative products which represent amounts 20 to 30 times GDP in opaque and risky financial operations. However, this behavior contrary to banking prudence did not lead to the banking apocalypse; the banks show strong resilience. What are the reasons: false accounts, disinformation, aid from public authorities? Another problem: bonds subscribed at very low rates are no longer worth anything, savers are getting rid of them. Are we headed for a bond crash?
With the Israel/Hamas war, uncertainty has just increased sharply, which is never good news for the markets. In reality, the bond markets of our democracies have collapsed in the last three years, losing 40% of their purchasing power since December 2020.
To conclude, a look back at the Nestlé/Pfizer transaction led by Emmanuel Macron. We wonder where the amount ($30 million?) of the transaction went.
Jean-Pierre Chevallier (https://chevallier.biz/), business economist and independent financial analyst.
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Inflation. People use cash to control their spending
Insolentiae - Sep 28, 2023
There is no overdraft possible in a wallet!
When I was a banker I had access to lots of figures, lots of covered or overdrawn bank accounts.
I drew some conclusions related to my observational studies. This is not worth a double-blind randomized study, but in real life, that's what we observe, so it's worth it!
You know what ?
In the 16th arrondissement of Paris, you have very rich people and very poor domestic staff in the INSEE sense of the term.
The result is very clear.
I had more poor people saving than rich people saving! I'm talking about numbers of people.
If you obviously take the average savings of the rich, it had nothing to compare with the average savings of the “poor”.
BUT… there were more domestic workers who were not overdrawn and saving than “rich” employers who were more often in the red.
The conclusion is simple.
1/ When you are poor you have to save even more than when you are rich.
2/ We lend more easily to the rich than to the poor, so the poor must tighten their belts and cannot spend more than they earn; the banker does not allow them to do so.
3/ Being overdrawn is so costly that it's a rich person's thing, not a poor person's thing.
So… yes, the poor, no offense to the journalists at BFM Business who make the heritage stereotype, save and they save a lot on their scale because they have no choice.
Hence… the return to favor of species of course and this is only the beginning and a very good start!
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Cash is not dead yet: understanding its role
Cash is not dead yet: understanding its roleMr Globalization - Sep 28, 2023
Free, practical, safe and universal, cash still has a bright future ahead of it, despite the development of dematerialized payments.
Used in everyday purchases by billions of individuals, cash – also called “fiat” money – remains an essential cog in the economy, including in the most advanced countries.
There has never even been so much fiat currency in circulation in the world! Since the introduction of the European currency in 2002, the value of euros in circulation has increased sixfold, according to the European Central Bank (ECB), an average increase of more than 8% per year. The American dollar is experiencing similar growth: the total value of dollars in circulation has tripled in twenty years.
THE favorite payment in Europe
Even if bank cards and digital applications continue to gain ground, cash payment remains the majority in France. According to the latest study by the Banque de France, published in May 2023, 50% of purchases were made in cash in 2022, 43% by bank card and 6% by checks, transfers or mobile payments...
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Prohibited banking
Prohibited bankingInternational Network - August 12, 2023
Banned from banking: how to benefit from banking services in the event of the closure of your account?
For a registered customer, in the best case, his bank, the one at the origin of the sanction can only content himself with restricting his banking services. In this way, he will still have his bank account active, but he will only have access to basic services. Still, for certain reasons or in certain specific cases, the bank may prefer to close the account of the client at fault. Fortunately, filing does not imply that you are excluded from banking. You can very well open a new account with another structure. Here are some tips on just that.
Claim your right to the account to get a new bank account...
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Commonwealth Bank cuts cash withdrawals and deposits
International Network - Jul 28, 2023
Cash in danger.
In many branches across Australia, Commonwealth Bank has decided to abolish cash withdrawals and deposits. These branches of CommBank have therefore become “cashless”. Earlier this year, ANZ (Australia and New Zealand Banking Group) said it had also phased out cash.
Withdrawing money is getting harder and harder in Australia
Commonwealth Bank has opened a number of 'cashless' branches with customers who can no longer access their money in cash. Cash over the counter transactions are not available at these branches, including Commonwealth Bank Place which is in central Sydney. Same situation in Brisbane and Melbourne. These cashless branches are called “specialized centers”.
Deposits and withdrawals can still be made through on-site ATMs, but for those who don't have their bank card handy, things get much more difficult. "Card-free cash" withdrawals of up to $500 per day using the CommBank app are available, but for those who need more funds or don't have their phone with them, their cash is not accessible.
In March, another banking group did the same: the Australia and New Zealand Banking Group announced that it was cutting some of its services and that some branches would no longer have cash. He did not, at the time, reveal which branches would be affected, but insisted it would be only a “small number”.
This dominance of digital banking raises concerns that society has become too dependent on potentially vulnerable systems
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Good news. Construction of a new banknote factory.
Insolentiae – Jul 25, 2023
The war against cash is not lost!
The war against cash is not lost in advance.
The proof with the construction of this new banknote factory which will see the light of day in Vic-le-Comte, in Puy-de-Dôme.
“The construction of this plant, worth 250 million euros, which had been postponed several times in the past, will finally take place.
In a telephone interview with AFP, the bank's general manager of means of payment, Erick Lacourrège, welcomed the upcoming construction of the new Banque de France banknote factory. "The decision of the General Council was to validate the project, in itself, it is very good news", he, in fact, declared.
Work is expected to start in the near future. A period of two months should now elapse before the “start as such of the construction of the factory”, according to the director general of the means of payment of the Banque de France.
The new factory in Puy-de-Dôme will replace the current factory in Chamalières, near Clermont-Ferrand. Its construction had initially been decided last summer.
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Contactless payment is evolving: the 3 things that will change
Contactless payment is evolving: the 3 things that will changeLemon Press - 02 Jul 2023
The NFC Forum has unveiled a roadmap on future developments in the technology. Here are the 3 things that will change for mobile payment.
The NFC Forum, the leading standards body for NFC technology, has just unveiled its technology roadmap for the period up to 2028. This comprehensive roadmap includes five key initiatives that offer a unique glimpse into the future of NFC and highlight the direction of the technology, as well as the expected development of products, market and business opportunities for the next two to five years. Collaboratively developed by core Forum members, including representatives from leading technology companies such as Apple, Google, Huawei, Identiv, Infineon, NXP, Qualcomm, Sony and STMicroelectronics, as well as the community of 400 Forum member companies, this roadmap provides three major changes in contactless payment. We take stock.
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Cash+, the digital crypto-euro unveiled, a digital ticket that is useless!
Insolentiae – June 29, 2023
I will let you read the latest speech by the Governor of the Banque de France who unveiled the name of the future European crypto-currency, “Cash+”.
It's nice to have Cash +, it's cash, but in a more… “more better” version, I suppose, as my children say.
But between you and me, what is the use of such a “digital” central bank currency, since our euro is in fact very largely dematerialized. Between our payments by credit card, “contactless” and the transfers we make to each other, cash only represents a very negligible proportion of our exchanges.
So from you to me, for us, the people, SMEs, or even larger companies, this new "cash+" thing has absolutely no interest is it's rather "hide+" because yes, things are hidden from us !
These things that are hidden from us are very easy to understand and are expressed in half-words by the Governor of the Bank of France.
What is hidden from us and what is not discussed obviously revolves around privacy and above all control and surveillance.
In the words of the Governor of the Banque de France, "Cash+" will bring significant advantages over banknotes: it will allow everyone to use central bank money in e-commerce, for remote payments between peers (peer-to-peer), as well as for conditional payments. »
Officially, as you can see, these are e-banknotes that you can therefore use for your online payments. Online payments that we make today without any problem with our current means of payment.
Once again, this e-ticket, this central bank crypto-currency does absolutely nothing. It brings us nothing or so little that our authorities must not bother to such an extent to set it up for us.
So if this is not of much use to us, but they are very keen on it, it is because the advantages are not necessarily for the population, but for the monetary and banking authorities (without forgetting the political authorities), because in the long term, the elimination of physical cash is obviously a reduction in costs. It is also the establishment of monetary control making tax evasion almost impossible. It is also in an extreme view, the monetary component of potential social control as in China. Your digital wallet, like your health pass, can be deactivated, recharged, or limited. We could even delete it for you.
In short, the potential drifts are such that it is a subject which obviously deserves a national democratic and philosophical debate.
Here is the text of the Banque de France source speech here.
