France Looks Worse than Greece
armstrongeconomics.com / By Martin Armstrong / December 18, 2012
The French actor Gerard Depardieu has left France and was publicly ridiculed for not wanting to turn over 75% of his wealth. Gerard has fired back and is clearly pissed-off how he was treated in France and sent an open letter to the Prime Minister. He writes that he paid EUR 145 million taxes in 45 years and Belgium neither has wealth tax nor the crazy 75% rich tax above EUR 1 million income. France is the one that has gone after gold dealers and prohibits them from buying or selling gold without a record and only by check – no cash. The actions of France are so socialistic/communistic that it is beyond reason how a country can simply ignore everything and expect to somehow even have a future. This is like the City of Mainz that chased out everyone that made the economy and were left with those who had their hand out begging for more. When Mainz collapsed, the creditors sacked the city and burned it to the ground.
This desperate need for cash by governments is destroying the world economy. Those who have been touting government will just print their way out into hyperinflation do not know their history. They will never go quietly into the light. They will tare everything from limb to limb to hold on to power. There is no reasoning with them. It is insane. 2013 is not looking very good. Believe it or not, Greece looks like it will be a buy, but France may be the best short shaping up in Europe.