The Minister for Europe and Foreign Affairs, Jean-Noël Barrot, finds that the French do not invest their savings in the right way. This formidable treasure that citizens possess is increasingly attracting politicians, who would like to draw on it to finance their projects. Who owns the French's savings?
Jean-Noël Barrot doesn't like your way of investing
Are we still free to dispose of our money in France and Europe?
According to the Minister of Foreign Affairs and Europe, he is ” scandalous » that the French invest their savings abroad. As a reminder, the French and Europeans keep a large part of their savings “ under the mattress “, in other words in low-yield savings accounts or life insurance.
And most of those who invest do not do it in French companiesbut American. A situation that is easily explained: French Unicorns offer dried insects to eat and go bankrupt. American companies propose to change the world, and raise hundreds of billions of dollarssupported by a government that seems to understand how business works.
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Our dear Minister of Foreign Affairs and Europe, and not Minister of Finance, does not understand that the French show a lack of blind patriotism with their savings. It is true that the government is used to disposing of our money as it wishes. Our taxes pay for highways, railway lines and nuclear power plants which are then sold at a discount in the name of competition and Europe.
Why wouldn't we do the same thing with the little money we manage to put aside at the end of the month? The underlying message, of course, it’s that the French’s money doesn’t really belong to them. If we do not quickly understand which markets to invest in and which lame companies to shower with money, nothing stops the technocrats in Brussels from forcing our hand.
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Who owns the French's savings?
Jean-Noël Barrot's declaration, full of a candor and naivety specific to the French government in recent years, evokes 2 things:
Does the willingness of the French to invest in foreign companies demonstrate the lack of patriotism of the French? or the absence of a viable alternative? What tax framework encourages the French to invest in national companies? What action is the government making to encourage the French to invest in their country?
Is the government not planning to increase the flat tax, that is to say the tax on capital gains from investments? The contradictions of our ministers, whose lifespan is a few months, have become too common to make anyone react.
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The second thing we think of when we see the Minister for Europe painfully constructing logical reasoning, it's cryptocurrencies.
-What will happen to our savings the day Emmanuel Macron's ministers have determined that it is absolutely necessary for our money to support startups that are forced to spend more time filling out paperwork than growing?
We already need a signed note from our parents to withdraw amounts over 1,000 euros, let alone send a transfer to a crypto platform – effective security controls, since we can always send 800,000 euros to Brad Pitt in Nigeria.
Our minister's statement is the best advertisement for Bitcoin that has been made in a long time. We hope he stays in office for a few more weeks.
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Advertising – Investing in cryptocurrencies is offered by eToro (Europe) Ltd as a PSAN registered with the AMF. Investing in cryptoassets is very volatile. There is no consumer protection. Investing is risky (learn more)
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Investments in cryptocurrencies are risky. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital
Cryptocurrency expert, Marc-Antoine began his journey in Web 3 alongside David Prinçay (current president of Binance France) in the French Cryptocurrency Club. Since then, it is by writing articles in the best-known crypto media in France that he has spread the good word. If you've read an article about crypto, there's a good chance you've read one of his articles. NFT, Blockchain, Web 3, DeFi, there is not a sector that is foreign to it. And don't ask him what the next coin to buy is: it's a maximalist Bitcoin (yes, no one is perfect).
Marc-Antoine Caen Poletti
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