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I Just Got Back From the EU... and It's Worse Than You Imagined

Phoenix Capital Research's picture




 

 

I just got off the plane from Europe. I went there because I wanted to see the effects of the French election as well as get an "on the ground" perspective of what's really happening in Europe.

 

I can tell you, the situation in Europe is far FAR worse than the media is even willing to acknowledge.

 

See below:

The above image was taken at 9PM on Paris’ Avenue de Champs-Élysées (the road leading to the Arc de Triumph) on May 8th, the night Socialist Francois Hollande beat Nicolas Sarkozy.

 

This is a major four-way intersection, come to an almost complete gridlock as Parisian youth park their cars to block traffic.

 

The sound was deafening as these kids honked their horns, screamed, sang songs, and waved flags. Did they care about traffic? Nope. Some of them even got out on top of their cars to smoke and dance (like the young man in the white pants in the image above).

 

These kids, like most youth in the EU are sick of getting the shaft from the political elite. Youth unemployment in France is near 25%. It's at an astounding 50% in Greece and Spain.

 

So French youth, like others, voted to kick Nicolas Sarkozy out of office. But that's not the BIG story from the French elections.

 

You see, French Presidential elections take place in two rounds. During the first round, voters will vote for anyone running. The two candidates who receive the most votes will then proceed to the second round, the winner of which will become France's President.

 

Hollande and Sarkozy were the winners of the first round. But as the final tally in the second round revealed (51% vs. 48%) voters weren't exactly thrilled with either one of them.

 

Instead, the BIG STORY in the French elections was the fact that the hard right, anti-Euro, anti-immigration party, the Front National Party, or NFP, took the most votes from French youth.

 

That is correct. When it came time to vote in round one, more French youth voted for a party whose leader wants to break up the Euro, who wants to deal with immigration by kicking out any immigrant who cannot adhere to French principles or who commits a crime, and who once compared the legal French tolerance of Muslims praying in the streets to putting up with Nazi occupation.

 

Oh, and her father, who founded the NFP, wanted to do away with the concept of immigration completely and once commented that Germany's occupation of France during WWII was "not particularly inhumane..."

 

As a whole, the NFP took in 20% of ALL French votes during the first round of the French elections. That’s a record high for the party and not far off from Sarkozy’s and Hollande’s first round showings of 25% and 28% respectively.

 

Put another way, Nationlism is on the rise in France. And it's not over by any stretch.

 

France will be holding elections for its lower house, the National Assembly, on June 10th and June 17th.

 

Right now the socialists are in the lead to win, leaving the loosely organized center-right party, Union for a Popular Movement (UMP), with the following options:

 

1)    Join forces with the NFP to take the control of the National Assembly, or...

2)    Hand France completely over to the Socialists

 

I cannot say how this will play out. But for now, we must take into account that there is a very real possibility that the NFP may take control of France's lower house.

 

IF this happens and Francois Hollande proves to be a Presidential dud, then it is not a stretch to imagine that the NFP will gain even more traction in French politics.

 

Put another way, France could become a Nationalistic, anti-EU nation in the not so distant future.

 

And that is nothing compared to what's happened in Greece.

 

Greece has gone through two Governments since its Crisis began: one was the long- standing President, the other was an EU-appointed bureaucrat.

 

Now, Greece cannot even form a majority in its parliament. In fact, by the look of things there will be a run-off elction in mid-June in which the ANTI-BAILOUT Syriza party will win the majority.

 

If this happens you can kiss the Second Greek Bailout good-bye. And that's the BEST potential outcome here: the alternative is once again Greece cannot form a majority in parliament and the country descends into total anarchy and chaos.

 

After all, if Greece cannot form a government... who will be negotiating on its debt/ bailout agreements/ etc. with the rest of the EU?

 

Make no mistake, the situation in Europe is bad...  How BAD? Well, France, Spain, and Germany have ALL implemented border controls.

 

That's not a typo. Spain, France, and Germany can each close their borders for up to 30 days at any point if they so choose.

 

Why are they doing this? Because they know that when the stuff hits the fan and the EU collapses (which it will in the next few months) people are going to attempt to flee with their money... so they have made it so that no one can get it... and no one can get out.

 

The US media has completely ignored this story because the implications are truly horrifying: that the EU and its banking system could very easily collapse in the coming months.

 

After all, there are already bank runs taking place in Spain and Greece. Once things pick up steam NO ONE will be immune.

 

"So what?" You might say. "The EU won't affect the US or other banking systems."

 

WRONG.

 

According to Reuters once you include Spain and Italy as well as Credit Default Swaps and indirect exposure to Europe, US banks have roughly $4 TRILLION in potential exposure to the EU.

 

To put that number in perspective, the entire US banking system is $12 trillion in size.

 

Heck, no less than Ben Bernanke, Mr. "the sub-prime crisis is contained" has publicly admitted that if the EU goes down, it will potentially take the US with it.

 

Make no mistake, what's coming will be bigger and worse than 2008. We're talking about bank holidays, civil unrest, and the worse.

 

On that note, if you have not taken steps to prepare for the end of the EU (and its impact on the US and global banking system), you NEED TO DO SO NOW!

 

I recently published a report showing investors how to prepare for this. It’s called How to Play the Collapse of the European Banking System and it explains exactly how the coming Crisis will unfold as well as which investment (both direct and backdoor) you can make to profit from it.

 

This report is 100% FREE. You can pick up a copy today at: http://www.gainspainscapital.com

 

Good Investing!

 

Graham Summers

 

PS. We also feature numerous other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it’s a US Debt Default, runaway inflation, or even food shortages and bank holidays, our reports cover how to get through these situations safely and profitably.

 

And ALL of this is available for FREE under the OUR FREE REPORTS tab at: http://www.gainspainscapital.com

 

 

 

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Sun, 05/20/2012 - 10:18 | 2444993 yt75
yt75's picture

What a bunch of crap .... (could only browse through it)

Doesn't mean the crisis isn't serious of course

Btw the NFP as you call it, will get 2 or 3 deputies in the assembly maximum, if even that, most probably none

lol, really no info in this article at all, you can move on (and I am Parisian)

Fri, 05/18/2012 - 22:12 | 2442655 Fred123
Fred123's picture

Looks like the days of the muslim occupation are just about over. Time for them to go back to desert and their goats.

Fri, 05/18/2012 - 23:07 | 2442721 mrpxsytin
mrpxsytin's picture

Did you know that you can actually eat goats? Drink their milk? Use their hides for clothing?

And did you know that you can't do any of those things with worthless Euros?

Fri, 05/18/2012 - 21:32 | 2442562 Restcase
Restcase's picture

It doesn't matter what happens in Europe. This US president and his treasury sec have sworn publicly to all and sundry that nothing that happens over there has anything to do with us on any level now or in the future. Heard Geithner reiterating that this morning.

We had nothing to learn from the French before Vietnam, we had nothing to learn from the Russians in Afghanistan, we have nothing to learn from the European economic crisis.

We're special. Very special.

Fri, 05/18/2012 - 23:32 | 2442753 Sandmann
Sandmann's picture

You forgot those British lessons in Imperial Overreach and Death of Reserve Currency

Fri, 05/18/2012 - 21:49 | 2442603 Buck Johnson
Buck Johnson's picture

Yep we are special, we are so special that we will get a special surprise when this whole thing comes down, one that we didn't see coming.

Fri, 05/18/2012 - 22:27 | 2442675 AGuy
AGuy's picture

Yes, <sarcasm>No one could have possible seen the break up of the euro, just like no one could see the housing bubble or the dot-com bubble! </sarcasm>

Fri, 05/18/2012 - 18:59 | 2442223 Stuck on Zero
Stuck on Zero's picture

Every newly elected government of any nation should repudiate any and all debts of the previous government.  This would put an end to ponzi economics and bank rule.

Fri, 05/18/2012 - 18:58 | 2442216 Beard of Zeus
Beard of Zeus's picture

 

 

as Parisian youth park their cars to block traffic.

Were these "youth" French, or Arab/African?

I wonder.

 

Fri, 05/18/2012 - 23:36 | 2442760 WhiteNight123129
WhiteNight123129's picture

Cher Monsieur, in a state which is a state where the laws are clear are not to be confused with regulations, the law is defining who is a citizen and who is not. Ron Paul understands that, the founding fathers understood that and our own preambule of constitution states in article 10 of the déclaration des droits de l´homme et du citoyen 1789.

Article X

"Nul ne doit être inquiété pour ses opinions, même religieuses, pourvu que leur manifestation ne trouble pas l’ordre public établi par la Loi."

In english, noone should be threatened for her opinions, even religious, as long as their exercise does not trouble public peace as prescribed by the law.

There are no "french" and no "arabs" and no "blacks". There are french citizens and non french citizens in France, period. Beard of Zeus, you fascist.

 

Fri, 05/18/2012 - 22:30 | 2442680 Nassim
Nassim's picture

Actually, this whole thing about people - not just youth - climbing on cars and the Champs Elysées turning into a car-park because of the heavy traffic is normal. I mean, any ordinary French person is bound to hate a psychopath like Sarkozy - and to see his wife/harlot obliged to change residence.

I saw the same thing when Mitterand got elected in 1981 - when I lived in the Trocadéro, a short walk away.

Fri, 05/18/2012 - 18:55 | 2442211 Beard of Zeus
Beard of Zeus's picture

 

 

France has a rising Nationalist movement for the simple reason that is an occupied country, with rising levsl of third world immigrant populations, crime, bankster crimes, and corruption.

The FN (note: it's NOT the "FNP") is the saviour of France.

You'd better come to terms with Nationalism, because it's on the rise.

And it's due to the nation-killing policies of the globalist occupation regime.

 

Sun, 05/20/2012 - 14:02 | 2445382 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

Yeah, immigrants get the shit kicked out of them for policies pushed by bankers, policies the people stood by & watched happen.  The population's apathy + banker scams = the problem.  The poorer in societies are always the easiest scapegoats.

Fri, 05/18/2012 - 23:45 | 2442781 WhiteNight123129
WhiteNight123129's picture

You fucking idiot. My great grand father went to jail, was called a terrorist and was weighing 110 pounds when he left from jail thanks to the "savviors". We are not red, I left out of the OECD 11 years ago, left away from France. All my people were 100% De Gaulle, and when the brown shirts (the fascists) made a living hell in France, we had to let the red dogs out to shoot bullets between the eyes of the browns (the fascits). Then once they are eradicated (the browns), the trouble is that the reds wants retribution and they do not understand anything about economics so they create a mess, but at least they help us shoot down the fascist. Worse comes to worst, if the fascists take over in France, we will have to ally ourselves with the reds temporarily to kill some fascists again, you have to do what you have to do.... pff...   Melenchon is a red dog, but there is nothing like a red dog to break the neck of a brown shirt (fascist).

Fri, 05/18/2012 - 18:49 | 2442198 Market Efficien...
Market Efficiency Romantic's picture

Ridiculous story! Have been travelling throughout Europe the past ten years and nothin much has changed. Some get richer, some are poor, igadgets, tv and pops keep down the anger. Border controls have always been in place controlling for drugs, cash or other smuggling activities, but only sample-wise.In terms of EU law exemptions, the Danish broke EU law and started border controls as a reaction to the Arab spring and immigrants moving north from Italian shores. Some EU countries have questioned current legislation and were actually tempted to also control borders. But where is the backup for your story about those shut down borders?

If you want to push your strategy/docs/whatever, get a little smarter, and write a true, less obviously effect-driven story and people will follow. Tagging the story with your little report actually eliminates any credibility, believe me.

Being pretty much aware of whatg is going on and how doomed the situation is, your story nevertheless disgusts me and bores me at the same time. Go back on your plane and do some real research this time.

Fri, 05/18/2012 - 19:34 | 2442313 boogerbently
boogerbently's picture

Did anyone "simply" give their name and e-mail address???

I'm betting the "report" is NOT free!!

Fri, 05/18/2012 - 19:35 | 2442316 boogerbently
boogerbently's picture

.....free report when you sign up for the "service."

Fri, 05/18/2012 - 18:46 | 2442187 youALREADYknow
youALREADYknow's picture

Young adults shut down traffic, honked horns, screamed, etc.... sounds like DC when Obama was elected, not really a sign of anything significant IMO.

Fri, 05/18/2012 - 19:03 | 2442236 granolageek
granolageek's picture

Or any city after its team wins the superbowl. Jeez.

Fri, 05/18/2012 - 18:30 | 2442146 MrNude
MrNude's picture

Even China is becoming more nationalistic and less tolerant of foreigners so it's not hard to see that most Europe will probably swing far right within the decade.

When shit hit's the fan the mysterious strangera are the perfect scapegoat to blame for all your problems.

Fri, 05/18/2012 - 18:17 | 2442082 The Alarmist
The Alarmist's picture

"I just got off the plane from Europe. I went there because I wanted to see the effects of the French election as well as get an "on the ground" perspective of what's really happening in Europe."

Hell, you have too much time and/or money on your hands.

I just got back to Europe from the US. I wanted to see the situation on the ground and what my double taxes were paying for ... oh, and attend a seminar.

There were lots of unemployed people. Lots of run down houses. Lots of closed down small businesses. Too many TV shows were in re-runs. The restaurants were all dirty. The food was all fried, or covered with cheese, or both. Spam cost $4.29 in Manhattan. Times Square has been Disneyfied and is filled with millions of Midwesterners living large on their credit cards while hundreds of thousands of their compatriots file new unemployment claims every week, and millions more have stopped paying their mortgages. Hell, the people in my seminar were drinking five or six Starbucks per day, each one put on the good old credit card.

This is is pinnacle of western civilisation, and you are carping that Europe is taking down the world?

Fri, 05/18/2012 - 17:27 | 2441975 New_Meat
New_Meat's picture

Q: "Why are the trees along L'avenue de Champs-Élysées so tall and well maintained?"

A: "So the Germans can march in the shade."

- Ned

Fri, 05/18/2012 - 22:33 | 2442683 Nassim
Nassim's picture

Actually, most of the trees are quite young - they were replanted in the 1980's when the pavements/sidewalks were widened.

Fri, 05/18/2012 - 18:19 | 2442116 The Alarmist
The Alarmist's picture

I thought it might be because French dogs can't muster enough of a stream to do the trees any harm.

Fri, 05/18/2012 - 17:06 | 2441914 Tao 4 the Show
Tao 4 the Show's picture

Follow up to my earlier post (near the top).

I once lived in a desert town. It hardly ever rained there, but on this one occasion we had quite a downpour and the story was picked up on the national news.

My parents called that night in a state of panic. Did I survive the flood? They had seen photos of cars floating, etc, etc on the news. There was one little area in town where water accumulated and the media had focused their cameras. The rest of the town was absolutely fine.

From the perspective of an insider, what my parents had seen on the news was like a bad joke. Hyped to the point of insanity and utterly disconnected from reality.

The media does this because it sells. They do it all the time, and it is very difficult to tell when a situation is truly serious. As a person who travels often to and around Europe, I can tell you that it may yet get bad ( and may already be in Greece), but elsewhere is generally not yet in flip-out mode as the numbskull who wrote the article suggests.

Just picture a guy on a soapbox from about 150 years ago selling cure-all concoctions (heavily spiked with booze) when you read his stuff. Then, if you happen to find something of value in one of the articles, consider yourself lucky.

Fri, 05/18/2012 - 18:15 | 2442102 Auroch
Auroch's picture

What he said. Likewise. Ditto.

It may be that the bundesbank sees it's way to being more ""flexible"", 'STRG-D' in the end, maybe ECB go volker and crank up the rates for "price stability".

 

 

 

Fri, 05/18/2012 - 16:53 | 2441867 Grimbert
Grimbert's picture

Please learn the difference between a President and a Prime Minister. Greece's President is still there, he doesn't run the government. 

I've never heard the FN referred to as the NFP.

 

Fri, 05/18/2012 - 16:46 | 2441838 JamesBond
JamesBond's picture

liar -

you went there for the cheap french hookers

Fri, 05/18/2012 - 15:16 | 2441362 fijisailor
fijisailor's picture

Didn't we always know they could close their borders?  They just haven't yet.

Fri, 05/18/2012 - 15:44 | 2441526 Wolferl
Wolferl's picture

I strongly doubt that the person who wrote this post ever has been to Europe.

Fri, 05/18/2012 - 16:17 | 2441697 Marginal Call
Marginal Call's picture

"I just got off the plane from Europe"

 

If you look closely, you can see him in this picture, wearing the yellow vest.

http://www.aia.gr/UserFiles/Image/AirlineHandler/153237_airline_handling...

 

You don't have to go to Europe, to get off the plane that came from Europe.

Fri, 05/18/2012 - 15:20 | 2441389 Kimo
Kimo's picture

so true... i traveled the 10 minute round trip between Strousbourg and Kelm today.... the only border action I saw was a swift Rhine river.

Fri, 05/18/2012 - 15:15 | 2441359 TSA gropee
TSA gropee's picture

Davalicious writes: Nationalism is not a dirty word.

Too funny. Apparently you're young and don't know your European history very well. You also may want to consider not using broad-stroked statements. We're talking about Europe here.

I think that the rise in right-wing parties across a number of countries in the EU is cause for concern, and not just for those on the continent, but globally as well. I also believe that the EU/Eurozone was just a calculated step in the movement of the continent to a single economic and governing system. The elites knew full well that an economic union without a political union would not work. They also knew they had to do what they wanted to do it in steps. Hence the establishment of the unsustainable Eurozone, and now that the economic crisis nears its zenith, it's a good bet a "solution" is in the works that will likely restructure the EU on non-sovereign lines (probably ethnic) and the establishment of a single economic and political governing entity to bring "relief" that the masses will gladly accept. IMHO

I find it also worrisome to a degree that the undisputed leader of the continent has a rising nationalistic movement as well as a kinsman sitting on the highest seat in the vatican. If the two ever decide to combine efforts, it would not bode well for peace in the near future.

Fri, 05/18/2012 - 23:37 | 2442762 Sandmann
Sandmann's picture

the undisputed leader of the continent

 

If you mean France the dictator Napoleon is gone although he did invade every neighbouring country - if you mean de Gaulle and his brand of Fascism , he is dead.

You mentioned leadership so clearly you did not mean France which is more a frustrated woman that throws tantrums to get her own way

Fri, 05/18/2012 - 15:08 | 2441311 HomerToeclipper
HomerToeclipper's picture

For God's sake, settle down. there's nothing to wory about, it's only money - not real either.

Settle back and have a beer. It's almost the weekend.

AMERICA-FUCK YEAH!

Fri, 05/18/2012 - 15:03 | 2441284 Dr. Crime
Dr. Crime's picture

Why is this gasping moron allowed to publish here?

Fri, 05/18/2012 - 15:31 | 2441455 giovanni_f
giovanni_f's picture

Good question. Answer: Revenues for ZH (which is ok, they must live from s.th). Quality comparable to that of that moron Robert Brusca.

Fri, 05/18/2012 - 14:59 | 2441154 Hannibal
Hannibal's picture

Baseless bullshit story.

Europeans (unlike americans) strike and protests, regular heated discussions over beer and a joint are the norm here. Vive le France, lang leve Europa!

 

Fri, 05/18/2012 - 14:43 | 2441124 lakecity55
lakecity55's picture

Nationalism (and National Sovereignty) are Good.

Fri, 05/18/2012 - 14:32 | 2441021 ArrestBobRubin
ArrestBobRubin's picture

Graham, what part of this is making you sound so concerned? The fact that an increasing number of people might actually support parties in France and Greece that aren't about sucking international money cock 24/7/365?

Should they really be framed as "anti-immigration" Graham? That's just another term the baddies created to try to stifle debate... do you actually buy that bullshit or do you just get paid to write it?

Why aren't you framing them as what they are- - "Anti-national suicide via bankster-funded sabotage programs of societal, cultural, financial, and religious destruction"

Granted, that's a little long. But, the question is this: who owns the Graham Cracker??? Because you sure sound like somebody does....

Fri, 05/18/2012 - 14:43 | 2441123 smb12321
smb12321's picture

Just because a party opposes EU policies does not make it "good". Both left & right radical parties in Greece oppose EU policies but I dare say few would actually want them to assume control of the State. And 99% of those who voted Socialist or Pen didn't give a microsecond's thought of evil banksters.   They simply wanted a change (with hope?), Jeez, that sounds like 2008.

Fri, 05/18/2012 - 14:23 | 2440986 Silberadler
Silberadler's picture

So Graham,

you have been to zee 'E-U'.

Where exactly if I may ask ?

France ?

I have the feeling that this country is still called France, just like Germany is still Germany etc.

As I live close to the border to France and frequently travel there , ummh ... Aint seen no border patrols, barbed wire, mine strips or something. In fact the only officials I saw - was close to St Die des Vosges - some motorbike flic (police officers) who gave a friendly wave back, as I was enroute on my motorbike.

Recently in Apreil I did a trip to the Netherlands, across France and Belgium.

Again not a trace of any police or customs teams who do back area Schengen spot controls for drug trafficing and illegal aliens, biut I never ever got even near to such a control.

All former border posts I passed are still in deep dormant ststus: Grass growing and graffiti enhanced.

I doubt that any reactivation is either planned or underway.

 

So much for news from E-U

 

As for what you saw in Paris:

That is just a normal party. No worries my French friends sure know how to celebrate.

Maybe you got this wrong in your paranoia.

Should've gone to a bar for a Pastis.

I guess it is a good idea to postpone zee Kollapse until we all collectively run out of ink or Pastis.

... Errr our central banks and the FED that is.

Now buddy - If your still there - relax and join la fete.

Greeetings from zee Kollapse E-U.

Enjnoy while it lasts

Fri, 05/18/2012 - 15:24 | 2441409 giovanni_f
giovanni_f's picture

It appears Graham went to Europe for the sole purpose to deliver his silly prejudices as "report". Raving bullshit, unbelievable.

Fri, 05/18/2012 - 14:37 | 2441015 Zero Govt
Zero Govt's picture

good to hear from you on the Franco-German border the check-posts are still growing grass between their toes

last time i drove through Europe a few months ago, Budapest > Prague > Munich > Geneva > Paris > Madrid etc there were only the Swiss checking their borders

Fri, 05/18/2012 - 14:33 | 2440978 Zero Govt
Zero Govt's picture

the Champs-Élysées is gridlocked with traffic most nights, the f'ing anti-car French authorities, as everywhere, stick traffic lights every 30-40 yards (there's about 6 on the Champs in the space of 300 yards) which grinds everythng to a halt

any big sporting game in Paris and the Champs is rammed with youth tooting horns and swirling scarves out their cars all night so i'm not at all impressed with the post-election celebrations

having said that Grahams words are concerning the Euro borders going up (as i regularly drive right around Europe freely) and the rise in national parties.. the fracturing to more strident parties, voters having been pissed on for a decade or more by their sell-out EU integration establishment parties, and you can see the trend accelerating to older tribal identifications

lastly regards Hollande being "the first socialist" in France for a while what the bloody hell was State-run-everything Nicolas 'bailout the car makers' Sarkozy then?

Has France ever had a free market approach or Govt in its entire Statist history? ...it'd be news to me and saturated/strangled in socialism Europe

Fri, 05/18/2012 - 14:01 | 2440910 sbenard
sbenard's picture

Alright! I like a good horror flick now and then. Bring it on!

Fri, 05/18/2012 - 13:58 | 2440892 W10321303
W10321303's picture

"I have just spoken with Chancellor Hitler, and he signed this piece of paper. We will have peace in our time?"   GUESS??

Fri, 05/18/2012 - 13:57 | 2440890 TaterTrader
TaterTrader's picture

Soooo typical.  I spent a couple nights in Paris = "I just got back from Europe and can tell you everything you ever wanted to know about the current financial, geopolitical, and social complexion of each of the 17 EU countries, and Don't Even Get Me Started on the Balkans & Russian Federation...."

Fri, 05/18/2012 - 17:46 | 2442028 Pure Evil
Pure Evil's picture

Don't forget about the free report!

Fri, 05/18/2012 - 13:51 | 2440879 Tortuga
Tortuga's picture

The NFP candidates father "commented that Germany's occupation of France during WWII was "not particularly inhumane..."". He was hinting about shipping Jewish children, women and men to death camp gas chambers, right.

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