How France was secretly Troika’d at the deficit summit

Across the EU, the measures necessary to control our money, medication and freedom of speech are being quietly put into place. For the more pea-brained among Labour’s core bourgeois fanatics, to be anti EU is to spew out ‘vile xenophobia’. The more idiots that trot out this baseless mantra, the sooner it will be too late to stop the Orwellian superstate.

Some of you may have read the accounts two days ago about new restrictions on money (especially large amounts and cash) being withdrawn in France. That is to say, the customer being told that the money he lets the bank keep for him – which is his and not the bank’s – being severely rationed in future. This is especially true of cash, where the Trésor Publique will be granted access to any account withdrawing cash in large amounts regularly. All payments above €6,000 will require notice (a lot of notice) and the right to refuse withdrawals over €10,000 will be introduced. Cash payments over €1,000 to anyone for anything will be illegal – the current limit is €3,000.

There are a number of points to make here:

1. My account is not the official one you read at Mish or in the Spanish Press on Wednesday, because it would’ve sounded too draconian. But it is the real version. Major hat-tip to Mish for spotting it in the first place, because I certainly didn’t.

2. Most of it is already happening. Some of you may recall a Slogpost from last year in which I described the problems encountered when, with €65,000 in a Credit Agricole account, I tried to withdraw more than €1,000 a week. Having 1.3% liquid access to an account paying 0.5% interest is not that good a deal. At the time, I was told informally that the Trésor was “sniffing around” my account. This new law is merely a legalisation of what’s going on anyway.

3. The official account – that this is all part “of a global attack on money-laundering” – I simply do not find credible. Crooks placing their money with them is the least of any bank’s problems right now….as of course Baron Green of HSBC could testify. (For anyone interested, he finds himself ‘deeply regretful’ about what happened at his former employer. But his collar will not, natch, be felt).

4. Part of the reason is to do with tax evasion via cash (“le noir”), and I have been assured that it is to do with France’s deficit issues. The Hollande government is trying to keep it quiet, but over the last two months it has been Troika’d to the extent of an insistence by the usual suspects that tax evasion must be stamped out. Anyone who knows anything about French culture will tell you that this is a bit like trying a stamp out a fire on the sun.

5. The other reason is one of liquidity. There are rumours that this diktat is also from the Troikanauts in the ECB, who have interests – as we’ve seen – in both encouraging and discouraging bank runs, depending on the nature of the prey. It’s only a rumour, and I don’t have a single source who can confirm it. But you will recall that two years ago, Holland passed a law forbidding the reporting of French bank instability whether it was true or not. I am, however, allowed to remark generally that certain financial institutions in France would get less than 100% in a US Fed exam.

So anyway, this means that two vital necessities of life in the EU – money and free speech – are already “on the ration” as we used to say in 1950s Britain. But there’s also another one: medication.

I won’t bore you with another account of my struggle to join the French welfare system via a Carte Vitale: suffice to say that I’ve now ordered new S1 forms from the DWP in Britain. But this – and the sudden retirement of the gp who lost the forms – means I’ve been paying top wack for my medication for some months. Now I need a new gp to even get a prescription.

Until very recently, the Pharmacies in Greece were deregulated – that is, you could get anything over the counter – very cheaply – without prescription. While there, I used to take the precaution of stockpiling…not illegal, as it happens. This has now suddenly come to an end…and the prices have gone up. Initially, I assumed it was a first shot by Syriza at closing down corruption. I’m now informed that it wasn’t: it was a Troika demand from the previous Samaras administration.

Nor is this just a eurozone thing: across the EU, all sorts of spurious “reasons” are being advanced by health professionals as to why ‘you should only be on this drug for a limited time’. It is happening in the UK and Italy for certain, and also I understand in Ireland. The simple truth is that – as in Britain prior to New Labour’s landslide in 1997 – covert drug rationing and higher charges are once more becoming the order of the day.

The final stage of this, of course, is privatisation of medical services.

As a man for No Side, I think it a disgrace that nobody on the Left is applying greater pressure on the Labour Party to rethink its unquestionning support for a thinly veiled mobster-banker-illiberal-unaudited trading partner across the Channel. But as always, the Left simply won’t engage….other than to scream paranoid insults at those who question their religion:

burrell1burrell2burrell3Everyone wants to be a Jihadist today.

Last night at The Slog: Scene and Herd


  1. Its the same here in Sweden. Its part of neoliberalism. When shareholders are more important than consumers customers take second place to investors. Shop shelves become more sparsely stocked, less popular lines are withdrawn, shortages become common, even of everyday things like butter, fruits become older and tougher. It is all very reminiscent of East Europe at its worse.


  2. Very interesting piece, John. A lot of crisis measures seem to be being taken behind the facade of ‘recovery’ (such a strong recovery that interest rates can’t even rise fractionally off the floor).
    In this country, Labour and the Tories are two sides of the same coin, with virtually interchangeable policies on immigration and the EU. They merely make a show of pandering to different sets of voters, using different insults to demonise anyone who opposes them, ie either racists or lefties. So, despite all the sound of fury from their politicians and our bought-and-paid-for mainstream media over the next weeks, it really makes no difference which of them is elected
    See, for example, the two very similar stories saying immigration is good for the economy in yesterday’s Telegraph and today’s Guardian. Also, Norman Smith’s editorialising in the Today news item about UKIP’s politician caught on expenses, clearly peddling a line from Central Office or Millbank that UKIP’s campaign is imploding which I’m sure it isn’t.


  3. You just can’t have a sensible conversation about leaving the EU with out being called a racist or xenophobic. People just can’t see that the EU is so undemocratic, just because there’s a parliament attached to it doesn’t mean that the EU Commission has to take any notice.

    These new measures seem to be capitalism holding on by its fingernails. Trying anything to prop itself up!


  4. O/T sorry, but sharing it might stop me smashing my TV…

    Sajid Javid on last night’s Question Time: “Statistics show that by the end of this year families will, on average, be £900 per year better off”.

    Hey Javid, here’s a thought: take 10 families with assets of, say, £10,000. Take £1000 each from nine of them, and give £18,000 to the tenth. Hey Presto! On average they are all £900 better off!

    Statistics, don’tchajust love ’em?


  5. They are going to have their way, come Hell or High Water. Things will only deteriorate, as I have said here on may occasions, ‘You Ain’t seen Nothing Yet’.
    They will continue with The Dream until folks take up arms against them. They will not be stopped any other way. Just watch them crush all oppressors.
    You will note that Google are now in the Drone/Robot manufacturing business, they are to develop law enforcement robots, I think all dissent will evaporate soon after they get in to production.


  6. I think the time has come to play the financial game using their own rules, which means withdrawing the most one can without drawing atention to yourself ie. 1 Euro under the threshhold or 999,00 Euros cash, 5.999,00 Euros for payments and 9.999,00 Euros for advanced withdrawals. On paper they cannot complain nor refuse as they would be breaking their own rules. What you have to do is plan your financial way until you reach your goal (withdrawing all your money from the bank or buying 2 1/2 ounces of gold at a time instead of 3 etc.) It takes a little more time, but it lessens the stress on the run up to the inevitable which of course is the faliure of most of the banks.


  7. Farrage has actually done something about it, and immediately which is a lot more than can be said about the other incumbents who are all still fiddling away at the taxpayer’s expense after all these years….. Another prime example of Cameron failing completely to confront a problem sat squarely on his desk….


  8. millions on workfare,zerohours & low pay pay no NI until they earn £153,in the budget employers NI was scrapped or cut,so now we are all better off,just your contributions will add up to nothing reducing your state pension even wipe it out & the NHS will be starved of capital & little chance of increasing NI,back door privatising the Pensions & NHS for future generations & not a word from Millibum


  9. ps John such monetary & freedom controls doesn’t sound like a system that is standing tall,remember the stats were based on government figure & osbourne’s budget speech was apparently worth 6% gdp ,but it was just hot air once he had actually spoken


  10. According to Martin Armstrong,governments across Europe are prohibiting a short on the Euro so reducing liquidity across many markets particularly London.


  11. The important point is that, throughout the MSM, it is taken as axiomatic that “good for the economy” is equivalent to “good for the country” which, of course can be true, but all too often isn’t.

    Take for example fracking. Maybe fracking the hell out of the ground beneath your house would produce jobs and oil and profit, but if it wrecks the water supply, could it still be said to be good for the country?


  12. “…they cannot complain nor refuse as they would be breaking their own rules…”

    you wrote that with such conviction I nearly believed you!


  13. John,

    just to be clear, the money you put in a bank is not yours. It is established law that you loan the money to the bank and they may repay you that loan money – or they may just tell you to GFY.


  14. take John’s advice and watch gold and silver drop and start buying it when you see the deep dips. now you have to make this a longer term project, purchasing enough but not too much to make yourself noticed. all your other assests are already theirs.


  15. John , instead of trying unsuccessfully to join the French Carte Vitale why not just join
    the French Foreign Legion ? I m sure you d pass what equates to a medicsl and once in you would
    at randomly get three meals a day plus medical attention when mortally wounded in battle or otherwise similarly indisposed.

    The downside of course is you would probsbly neet your end after having been taken prisoner following an unsuccessful skirmish with IS renegades somewhere in Mali and become the subject of a YouTube video release in the process . Ah la guerre mes vieux !!!


  16. John, as a Labour activist, I don’t recognise your comment ‘we in the Labour party are extremely concerned about what is going on in the’ Eurozone’, you’d have to be a Fibdem not to be!

    Many of us are through our party making our concerns heard. A rigid one size fits all currency union based on the German economic model was always destined to fail. There is as much funny money flying around Germany as it is here in the UK, I am reliably told by my German friends.

    . I am fully aware of what Dhragi and the Troika are doing to Greece and know full well how they’re screwing the Irish Republic. I and many others in the party support Sryzia.

    So if we withdraw from the EU, it would give the Kippers and the lunatic Tories a way to drag us back to the 1950s.
    I have German, Swedish, Portuguese, French, Irish friends all with the same concerns but don’t want to leave the EU.
    Osborne at present is bribing the pensioners with freebies in return for another 5 years of sending us back in time.

    Question is how do we get rid of the neoliberals and restore decency and respect ??


  17. Remember “Give me control of a nation’s money and I care not who makes it’s laws” (Mayer Amschel Rothschild)?
    Think. ‘I care not who controls a nations money or who makes it’s laws, as long as I control the Drones’.
    We are most likely less than a decade away from total population control, and no one pays any of it in mind.


  18. @steve – yes, the Co-op told me I needed to jump through various hoops to transfer £5K (ironically, to France). The threshold I asked? £5K. OK, I want to transfer £4999.99 to France please. Fine!

    Talking of pharmacies and France – they have a monopoly – so paracetamol that is 14p in Tesco is €1.80 in pharmacy.

    As for S1s – when we needed them – the UK were a bit stupid but generally issued them. They have to be sent to the Department CPAM in France for a Social Security Number and then that has to be written at top of the Feuille (Green or Brown) issued by Dopctor or Pharmacie and sent with RIB to CPAM for reimbursement. Normally. What we discovered was Doctors who thought we were not covered as we were foreign and charging a different rate and not issuing paperwork. Maybe this is John’s problem?



  19. Twitter can be a colossal waste of time as shown by Graeme above. If you disagree with someone like him and his followers you are “trolling” When their argument runs out of steam start they start name calling This pleases those who are threaten by a different idea and allows them to goosestep merrily on their way


  20. Money ‘in the bank’ is on the radar and – importantly net of tax paid.
    The new laws will just ensure that less transactions ever show on the radar, and two economies will just diverge thereby making the ‘official’ statistics look ever worse by the day.
    The fascist jackboot is on the march again – that we understand fully.


  21. KK
    A good way would be take Miliband’s kitchen hostage. But an even better way would be:
    1. The creation of a depoliticised education system based on inspiring kids to think for themselves, care for others – and thus have higher self-esteem.
    2. Devolve power down to community level and restore responsibility and dignity to families.
    3. Make deweaponised social service obligatory between 14 and 16.

    Alongside this I would propose the mass murder of every investment banker on the planet; by my pacifist beliefs forbid such action.


  22. Personally, I would rather go back to the 1950s than forward into what promises to be an infinitely worse future but I doubt you have the faintest idea what I mean, comrade. As for Osborne’s “bribery”, you are clearly too young to realise in today’s world ALL politicians bribe for power, whether through handouts or promises. Labour are no better in that sense. You refer to “restoring decency and respect” suggesting these attributes existed in the past – and indeed, they were certainly in far greater evidence in the 1950s.


  23. Will I ever live to see the ‘MLK Gambit’ take place and see the cattle herd to make their real voting rights heard?

    Off course by voting rights I mean the money in everyones pocket.


  24. You have your opinion that we should stay in the EU, why doesn’t the labour party commit to letting us have a vote on it then?


  25. As an American, I don’t understand how people in the EU can willingly leave the decision making, especially regarding economic matters, to people they have not elected. Oh, the technocrats can perform magic, they must think. Yeah, watch how your money disappears. In Greece (I follow the news there), those who are pro-EU are most often the elite, or generally those who are comfortable. They make it sound like the end of the world if Greece leaves the EU. We won’t be in Europe anymore. Oh, no! In my opinion, the pro-EU people in Greece are the most racist, even as they try to speak in politically correct terms. Besides the fact that Greece can’t just up and leave the continent of Europe, it doesn’t dawn on them that there are other respectable places in the world besides Europe, places that have high standards like Japan, and places that they could learn a lot from.


  26. In a quietly parallel move, the EU is aiming to restrict merchant fees on debit and credit cards, all down to small decimals of a percent.
    This is nothing to do with helping the populace by reducing charges, it is simply about encouraging more transactions to be conducted via cards, therefore in plain sight, therefore recorded and taxable. Another phase of the same background plan.


  27. “the customer being told that the money he lets the bank keep for him – which is his and not the bank’s ”

    No, once you hand over the money to a bank it is the bank’s money and you are an unprivileged creditor.

    Use bitcoins and other cryptocurrencies for daily transactions and keep your wealth in gold, silver, fine art, antiques and other asset classes not easily confiscated – and stick to the flag rules. Otherwise you will get shafted, and soon.


  28. @Garry – because in your heart of hearts you know Labour doesn’t really believe in the practice of democracy; they just use the word as a soundbite. Actually, the same goes for all three parties, though I think Labour the most hypocritical.


  29. @ Maria
    “I don’t understand how people in the EU can willingly leave the decision making,……….to people they have not elected. ”

    IMHO, there are various reasons for this – those living on the Continent of Europe have a lesser history of living in an independent democracy than Britain, which is why you’ll find more Eurosceptics in Britain than in other member states. Most people living in Europe have memories via their family histories of being occupied and bossed around by alien forces – this might lead one to think that such alien domination today would be anathema to them but it seems as if either the perceived benefits derived from EU largesse, or a concern for safeguarding against future wars persuade them to find the benign dictatorship of the EU tolerable. There are however a very large number of people all over Europe who are totally ignorant of its workings and unaware of how much their own sovereignty has been dissipated. Also, there remains the question what can they do to throw off the EU yoke, other than vote in sufficient numbers against it? Given the political shenanigans we’ve become used to when any democratic vote threatens the EU’s future, I think that ‘s unlikely to happen.


  30. Yes, you could, but that is what neoliberalism is like. The chase for profits over-rides all else, leading to centralisation. Ordoliberals argue the opposite. Don’t make everything too big to fail you will just have to bail it out if you do. Yesterday David Stockman wrote about how Fanny Mae and Freddie Mac will need to be bailed out again in the next crash. The chase for profits is all, and the woman in the street will have to lump it.


  31. Pingback: John Ward – Crash2: EU Rationing Control…The Quiet Revolution – 21 March 2015 | Lucas 2012 Infos

  32. Pingback: John Ward – Tsipras/Merkel Summit : You Thought Greek Politics Complicated? Wait Until You Tot Up The Seismic Splits In The EU – 21 March 2015 | Lucas 2012 Infos

  33. This sounds a fine agenda, JW, especially number 3.
    2nd thoughts, long prison terms, solitary confinement, bread & water, you get the picture.
    Time to reopen Alcatraz, or Devil’s Island.
    Shooting’s too quick & easy for the barstewards.


  34. When you put money in a bank the money it is no longer yours, legally you have loaned the money to the bank to do with as they please.

    It used to be a safe assumption that you would get it back again.


  35. Pingback: EuroSoap | Doomstead Diner

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