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 | Mish - Global Economic Analysis |
| Zumutungen! Buyer’s Remorse in France, Impossible Situation for Germany |
| Now that the cheering over the French election has died down, reality will strike France and Germany like a cold bucket of water thrown in one’s face on a Winter’s day.
Germany was guaranteed to not like the result no matter who won. The final choice was between an anti-EU Marine Le Pen and a budget-comingling Emanuel Macron who needs EU treaty changes to get what he wants.
And in France, buyer’s remorse has set in. Unions are already protesting against Emmanuel Macron’s policies.
Zumutungen!
TWednesday, May 10, 2017 |
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| Mish - Global Economic Analysis |
| Is Macron the Anti-Trump, European Obama |
| Judging from the political reaction to Emanuel Macron’s French election victory, one might be wondering if Macron is the anti-Trump or if this is the Second Coming.
Eurointelligence Explains
Emmanuel Macron was elected with 66.06% over 33.94% for Marine Le Pen, according to the latest figures. With Macron, the French chose the anti-Trump: a young, pro-European reformer, who never held elected office before. Macron proved the impossible, and this in itself is inspiring. The message is one of hopMonday, May 8, 2017 |
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| Mish - Global Economic Analysis |
| Path to Le Pen Victory: What Would It Take Ni-Ni |
| Recent opinion polls for round two of the French election on May 7 show Emanuel Macron with 59-60% and Marine Le Pen 40-41%.
Le Pen is trending up from April 24 results that were as low as 36-37%.
Still, Le Pen has a long way to go. Can she close the gap? How?
French Election Polls
The above from French Election Polls on Wikipedia.
Results show the two candidates combined only got 45% of the vote in the first round. Apathy and distrust are strong.
Political Ambush
On Wednesday, April 27, MacroSunday, April 30, 2017 |
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 | James Howard Kunstler |
| Ready, Set, Splat. |
| As I write, the French stock market (the CAC 40), is doing a grand jeté (up 4.5 percent!) in celebration of Emmanuel Macron’s assumed slaying of the dragon Le Pen. But that was just the first round under the interesting French election system. Consider that two other candidates who were eliminated, Monsieurs Fillon and Mélenchon, got nearly 40 percent of the vote. Are we so sure about where their voters go in the second and final round two weeks from now?
I suspect that most Americans — even theMonday, April 24, 2017 |
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| Mish - Global Economic Analysis |
| Pollsters Get One Right: Macron and Le Pen Square Off in Round Two as Expected |
| Emanuel Macron and Marine Le Pen will square off in round two of the French elections as most expected.
Here are a few clips from Guardian French Presidential Election Live
Evening summary
Emmanuel Macron has beaten the far-right leader Marine Le Pen in the first round of the French presidential election, with a projected total of 23.7% to Le Pen’s 21.9%.
The two candidates – the first pro-European and internationalist, the other anti-EU and protectionist – will now face off in a second round Monday, April 24, 2017 |
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| Mish - Global Economic Analysis |
| Paris Policeman Killed, ISIS Claims Responsibility, Fillon Calls For Election Suspension: Election Impact |
| One police officer was killed and another seriously wounded in a Paris terrorist attack today. The attacker purposely targeted police. ISIS Claimed responsibility for the Champs-Elysees attack.
ISIS has claimed responsibility for the terror attack in Paris, France that left a police officer dead along the Champs-Elysees after an attacker with an automatic weapon ambushed a police vehicle.
Amaq, the news agency for ISIS, claimed the attack on the famous Parisian promenade, according to SITE InteFriday, April 21, 2017 |
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 | Mark O'Byrne - gold.ie |
| EU Crisis Is Existential – Importance of Tomorrow’s Vote |
| EU Crisis Becoming Existential… Dutch Vote Tomorrow and Why It Matters
The leader of the National Front in France, Marine Le Pen, has hailed Britain’s decision to leave the EU – and has called for France to hold a similar referendum
The EU is facing an existential crisis and does not look like it will survive the massive political and financial challenges it is faced with. This has ramifications for investors in the EU itself and globally as the collapse of one of the world’s largest trading bloTuesday, March 14, 2017 |
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 | Andy Hoffman - Miles Franklin |
| Fear Mongering, F.U.D.-ing And Fleecing-Rinse And Repeat, Until The Cartel’s Well Runs Dry |
| Today, we’re going to start in Europe – where the world’s second largest; and soon-to-be-defunct; currency is again plunging, as the equivalent of political and economic “nuclear bombs” are serially crashing. In other words, the dollar – i.e., the meaningless “dollar index”; which matters not a whit to European gold investors, who are patting themselves on the back for having had the foresight to have invest in history’s best inflation hedge. Thehe price of gold in Euros is just 16% from its aWednesday, March 8, 2017 |
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| Mish - Global Economic Analysis |
| Stellar Performance by Marine Le Pen on 60 Minutes |
| Marine le Pen put in a stellar performance on 60 Minutes on Sunday.
Le pen came across as very presidential. The interview, in French but translated, is sure to boost her standing in the French presidential election on May 7.
CBS has a transcript of the interview at Marine Le Pen Says She’s Not Waging a Religious War.
Anderson Cooper: The polls say you can’t win.
Marine Le Pen (translation): Yes. They also said that Brexit wasn’t going to happen, that Donald Trump wasn’t going to be elected, wTuesday, March 7, 2017 |
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| USA GOLD - USA Gold |
| Gold boosted by geopolitical ripples but interest-rate outlook limits gain |
| MarketWatch/Rachel Koning Beals/03-06-17
Gold got an early-week bounce as geopolitics had the dollar sputtering Monday and left haven assets, including the precious metal, in higher demand.
North Korean sabre-rattling, China’s trimmed GDP estimate, U.S. President Donald Trump accusing Obama of pre-election wiretapping and the persistence of troubled French presidential candidate Francois Fillon fueling political uncertainty there all combined to largely push down the greenback and bring at leastMonday, March 6, 2017 |
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| Mish - Global Economic Analysis |
| Fillon Caught Lying: Under Former Investigation, Refuses to Stand Down |
| Francois Fillon, once considered the lead candidate in the French national election in May, just got caught in a lie.
Recall that Fillon pledged to drop out of the campaign if a formal investigation against him was announced.
Today, a formal investigation into “Penelopegate” was announced, but instead of dropping out, he attacked the judicial system.
The Financial Times reports François Fillon vows to fight on despite formal probe
François Fillon has vowed to fight on as a candidate in FranceThursday, March 2, 2017 |
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| Mish - Global Economic Analysis |
| Le Pen Follows Trump Social Media Tactics, Fillon Wins Investigation Reprieve |
| French presidential candidate François Fillon won a temporary reprieve in charges that he paid his wife and children €880,000 for work they did not do. The charges are dubbed Penelopegate” after his wife Penelope.
An investigation has started, but so far he has not been charged. The investigation is unlikely to conclude before the election. Should Fillon win, he will have presidential immunity.
Magistrates in charge of prosecuting financial crime on Friday opened a formal investigation into cSunday, February 26, 2017 |
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| Mish - Global Economic Analysis |
| Germany, Italy, France Insist UK Accept €60 Billion Bill Before Brexit Negotiations Start: Election Wildcards |
| The EU’s chief negotiator, Michel Barnier, took a position earlier this week that the UK accept a €60 billion breakup bill before Brexit negotiations begin.
Today, the Financial Times reported Germany and Italy back European Commission on Brexit.
Berlin and Rome are backing the European Commission’s plan to rule out starting trade talks with Britain until the UK gives assurances on a multibillion-euro Brexit bill and citizens’ rights.
German and Italian officials say they support Michel BarnierSaturday, February 25, 2017 |
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| Mish - Global Economic Analysis |
| Le Pen Calls for “Europe of Nations”, Blasts EU as “the Problem” |
| Striking back at the nannycrats who want “more Europe” including a “superstate”, French presidential candidate Marine le Pen instead seeks a “Europe of Nations”.
Bloomberg reports Le Pen Says French Foreign Policy Must Be Decided in Paris.
Laying out her foreign-policy vision in a speech in Paris, Le Pen spoke of a world based on nation states that pursue their own interest and preserve their own cultures without interference.
“To assure the freedom of the French, there is no price too high tooFriday, February 24, 2017 |
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| Andy Hoffman - Miles Franklin |
| The Fed’s “Third Mandate” |
| Lately, the Cartel has been throwing everything – including the kitchen sink – at Precious Metals; in silver’s case, vigorously defending its latest “line in the sand,” at the 200 DMA of $17.96/oz; and in gold’s, at its 200 day and 200 MONTH moving averages, both of which are roughly $1,266/oz. And despite, as I mocked yesterday, the dollar index “rising” this week – due to heightened fear of a Eurozone breakup – they’ve been having an immense amount of trouble holding them down.
Yesterday, we Wednesday, February 22, 2017 |
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| Mish - Global Economic Analysis |
| French Elections: Another “Unthinkable” Result Coming Up |
| Recent PresiTrack Polls for French national elections show eurosceptic Marine le Pen is not only in the lead for round one, but she has significantly closed the gap in round two as well.
Round One French Presidential Election
Round One Five Key Points
Le Pen in Front
Fillon Stabilized at Worst
Macron Tied with Fillon
Hamon in Decline
Melenchon in Decline
Round Two Macron vs. Le Pen
Round Two Macron vs. Le Pen Five Key Points
Macron Peaked on February 8: 66%
Le Pen Bottomed on February 8 atWednesday, February 22, 2017 |
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| Bullion Vault |
| 'Buy Gold' Against Political Risk Says Blackrock as It Sells GLD, Stocks Fall Again |
| BUY GOLD prices in the wholesale 'spot' market held above $1240 per ounce in London trade Friday morning, heading for their highest weekly close since Donald Trump won the US presidency in November as world stock markets fell further from yesterday's new all-time highs.
Commodities fell again, but silver held firm alongside prices to buy gold, trading 10 cents shy of yesterday's pop to what one trading desk called
"strong silver resFriday, February 17, 2017 |
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| Mish - Global Economic Analysis |
| Wikileaks Claims Information on French Presidential Candidate Emmanuel Macron: Support for Fillon Plunges |
| Wikileaks’s founder Julian Assange claims he will “throw oil on the fire of the presidential campaign in France“.
The claim in in reference to Emmanuel Macron, a leading French presidential candidate, and head of the En Marche! political party.
The information is from Clinton Emails.
Via Mish-modified translation from RT in French: WikiLeaks Found Information on Macron in Emails of Clinton.
The founder of the site WikiLeaks Julian Assange told the Russian newspaper Izvestia that emails of HillaThursday, February 9, 2017 |
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| Bullion Vault |
| Gold Price Over $1240, Regains 'Trump Dump' in Euros as 'Disunity' Spreads in France, Italy, Scotland |
| GOLD PRICES rose to $1240 per ounce in London on Wednesday, regaining almost half of their post-US election slump as Euro stock markets slipped and government bond prices rose amid fresh fears over the currency union's 2017 political outlook.
With France's establishment presidential candidate François Fillon
urging voters to reject anti-Euro "disunity" contender Marine Le Pen amid a scandal over gifting public funds to his wife, rioWednesday, February 8, 2017 |
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| Andy Hoffman - Miles Franklin |
| If A Nuclear Bomb Destroyed Europe, Part IV |
| Last week, former Goldman Sachs banker and current Bank of England Governor Mark Carney said “in many respects, we’re coming to the last seconds of central bankers’ 15 minutes of fame…which is a good thing.” Which I couldn’t agree with more, despite said “15 minutes” lasting more than 100 years; or at the least, the 46 years since the U.S. reneged on the Bretton Woods Agreement by unilaterally abandoning the gold standard; with nary a peep of protest from fellow signatories; all of whom were coMonday, February 6, 2017 |
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