Nicolas Sarkozy

DSK'd? IMF's Lagarde Loses Fight To Avoid French Trial Over Corruption Case

In December we warned of her career's "terminal decline," and it appears, just as with Dominic Strauss-Kahn, someone is upset at the IMF Director (perhaps she has just been too darn negative, or pushy towards policy-makers?). In a surprising twist for 'the establishment' Bloomberg reports that Christine Lagarde may face consequences for her actions (or lack of them). France’s Supreme Court rules that The IMF director will have to stand trial for alleged “negligence” in accepting an arbitration panel decision in favor of a French businessman.

French Prime Minister Booed At Moment Of Silence In Nice

The French resentment toward its Prime Minister was on full display again today, when Valls was loudly booed at memorial service to remember the victims of the Nice terror attack. Valls was booed as he went to sign the book of condolence at the memorial service on the Promenade des Anglais. “Resignation!” “Murderers” was shouted by the crowds before and after the ceremony.

How The World Reacted To The Nice Bastille Day Massacre

From shock to solidarity and from aggressive reality checks to passive toothless solutions, the world's leaders responded in many different ways to the horrific attack last night in Nice, France. However, it is one seasoned veteran trader's response that is perhaps most poignant. However, it is French PM Valls who has stirred up the most angst by exclaiming "Ignore the hysteria, Europe can live with terror."

Irony Of The Day: Hollande Lectures US About Trump; Two-Way Frexit?

Hollande, whose popularity is in the gutter, lectures the US about Trump when a two-way “Frexit” looms in France: once from the Euro and a second from the EU. “The arguments in the Brexit vote and in the American presidential campaign are about the same,...In a friendly way, may I also give some advice to the American people to make the right choice when the moment comes.”

How The Welfare State Dies

Brexit has diverted attention from another little drama playing out in Europe. As of the time of writing, if you Google Hollande threatens to ban protests or variations thereof, you will find Russian, South African and even Iranian press reports on the topic. Otherwise, it’s basically crickets (sole exception: Politico).  Gee, we wonder why? Those who elected Mr. Hollande did so because they expected him to deliver the loot. His problem is that he’s running out of stuff to loot.

Free Speech Under Attack

Speech is either free or it isn’t. One cannot have it both ways, as the EU apparatchiks apparently think. As soon as restrictions on free speech are introduced, abuse is sure to follow.

Paris Becomes Massive Camp For Illegal Migrants

Paris Mayor Anne Hidalgo has announced plans to build a "humanitarian camp" next to one of the busiest train stations in the city, so that thousands of illegal migrants bound for Britain can "live with dignity." Hidalgo, who has often sparred with French President François Hollande for his refusal to accept more migrants, says her plan to help illegal migrants from Africa, Asia and the Middle East is a "duty of humanism." The National Front party has accused her of putting the concerns of migrants ahead of those of French citizens, as part of a cynical political ploy aimed at positioning herself to the left of the current president.

Why Voters Will Stay Angry

From the supporters of Donald Trump to the street protesters of southern Europe, voters around the world are mad as hell. Inequality, immigration, and the establishment's perceived indifference are firing up electorates in a way that's rarely been seen before. As the following charts from Bloomberg show, the forces shaping the disruption of global politics have been building for years and aren't about to diminish...

Are Central Banks Setting Each Other Up?

There are times you try to connect the dots. There are others where those connections warrant adorning your trusted tin-foiled cap of choice; for you just can’t get there unless you do. This I believe is one of those times. And if correct? What at first might appear apocryphal, may in fact, be down right apocalyptic. And besides, what good is a tin-foil capped conspiracy theory anyhow if it doesn’t have the potential for doom, correct?  The implications for everything we now take for granted such as: money, enterprise, global commerce, and a whole lot more may be far closer to a “Minsky moment” than any of us dared to imagine.

The Islamization Of France In 2015

The Muslim population of France reached 6.5 million in 2015, or around 10% of the overall population of 66 million. In real terms, France has the largest Muslim population in the European Union, just above Germany... "Those who denounce the illegal behavior of fundamentalists are more likely to be sued than the fundamentalists who behave illegally."