Add the total and complete hypocrisy of France to the list of reasons to avoid putting a cent in the EU.
We already know about Spain where Prime Minister Mariano Rajoy was “allegedly” receiving bribes from property developers throughout the housing bubble… while THREE different treasurers have been accused of everything from money laundering to fraud.
Rajoy’s defense to the allegations? “I repeat what I said Saturday: everything that has been said about me and my colleagues in the party is untrue, except for some things that have been published by some media outlets.”
Then there’s Italy where Prime Minister Silvio Berlusconi has a track record a mile long (including numerous allegations of sexual misconduct, tax evasion, and collusion with the mafia).
Berlusconi’s latest charge is for bribing an Italian senator to change political sides. His defense? Bribery is a “necessary part of business.” Mind you, this is the same man who once called tax evasion a God-given “right.”
Now there’s France where we find out that the man in charge of catching those committing tax fraud was in fact engaged in massive tax fraud himself.
The French government is in crisis after François Hollande’s former budget minister and tax tsar was charged with tax fraud following a shock confession that he had held a secret foreign bank account for 20 years and had repeatedly lied about it.
Jérôme Cahuzac’s sudden admission that he hid €600,000 (£510,000) offshore for more than two decades is the biggest scandal to hit Hollande’s presidency.
So… in the last few months we’ve discovered…
1) EU political leaders were on the dole during the boom times often receiving bribes and then hiding the money via tax evasion schemes.
2) EU political leaders feel it’s acceptable to throw out issues like personal property rights and Democracy during the bust times.
3) EU political leaders are so corrupt they don’t even deny their crimes.
4) When push comes to shove, EU leaders won’t hesitate to STEAL citizens’ money to bail out their banker friends.
At this point, there is literally not one single reason to invest a cent in Europe. Banks are lying about their balance sheets. Politicians are lying about citizen’s rights. The Central Bank is lying about everything…
By the way, Germany’s minster of education recently quit when it was discovered that she plagiarized her PhD thesis.
This is what systemic collapse looks like. This is what happens when society as a whole breaks down. It’s now happening in Europe… the single largest economy in the world. And eventually it will be making its way around the world as the overleveraged financial system breaks down.
You DO NOT want to be on the bad end of this. What’s coming will make what happened following Lehman’s failure look like a joke.
We have just posted a report warning all investors of what’s coming… in it you can find detailed information about how it will unfold and how to prepare yourself and your loved ones.
To read this warning… and take action to protect yourself and your hard earned wealth…
Chief Market Strategist
PS. If you’re getting worried about the future of the stock market and have yet to take steps to prepare for the Second Round of the Financial Crisis… I highly suggest you download my FREE Special Report specifying exactly how to prepare for what’s to come.
I call it The Financial Crisis “Round Two” Survival Kit. And its 17 pages contain a wealth of information about portfolio protection, which investments to own and how to take out Catastrophe Insurance on the stock market (this “insurance” paid out triple digit gains in the Autumn of 2008).
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Graham also writes Private Wealth Advisory, a monthly investment advisory focusing on the most lucrative investment opportunities the financial markets have to offer. Graham understands the big picture from both a macro-economic and capital in/outflow perspective. He translates his understanding into finding trends and undervalued investment opportunities months before the markets catch on: the Private Wealth Advisory portfolio has outperformed the S&P 500 three of the last five years, including a 7% return in 2008 vs. a 37% loss for the S&P 500.
Previously, Graham worked as a Senior Financial Analyst covering global markets for several investment firms in the Mid-Atlantic region. He’s lived and performed research in Europe, Asia, the Middle East, and the United States.
© 2013 Copyright Graham Summers - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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