Perpetual debt is a perpetual tax

Spread the love

France is today in debt to the point of belonging to countries unable to pay the interest on the debt. This sad situation has led central banks, like the European Central Bank, to introduce negative interest rates which make it possible to no longer ask the States for anything, but, on the contrary, to give them even more money when they borrow. !

However, issuing debt is not enough because you have to find someone to buy it. And it is here that the French banks intervene, the big capitalists being overly suspicious of the indebted States which cannot guarantee anything. The French saver must be convinced that the state debt at 1.3% per year is attractive and that he does not risk anything with it. He even has to be forced to buy it, which means he should not be able to find a more attractive investment. “Bad tongues” also assert that the French Ministry of Finance and its various institutions would then intervene to ensure, through the development of numerous regulations, that any form of competition from the bank lobby is eradicated.