Arthur Hayes

Give me whatever it is that I want.

Stop investing abroad.

That money leaves France.

France is like, oh, shit.

We have to fund this government.

We don't have any real wealth to fund it with.

Nobody's funding governments anymore.

Everybody's funding themselves.

Well, this euro thing.

Christine Lagarde on the ECB says we can't print enough money to do things domestically.

Fuck you, Christine Lagarde.

I'm going to print money and focus on France first.

And that breaks the euro.

As soon as France says I'm going to change making laws, restrict capital from movement across Europe, or not do what the ECB tells me to do, whether that's greater than 3% of GDP budget deficits, whatever.

then the Euro in all effect is over.

And capital is not flowing freely around the Eurozone.

And that's what ends the Euro.

And so France is slowly walking towards that situation.

And you can take a look at the liabilities of the French banking system within the EU system called the Target 2 imbalance.

It's deteriorated rapidly since 2021.