Gonzala Lira was interviewed by Max Keiser on his programme On The Edge. In it, they discussed the French elections and Spain’s ongoing problems. The video of the interview is below and the following are some of the main points

French Elections

  • Marine LePen is very popular amongst youth vote which used to go to left.
  • People are discontent and their votes are going to the extremes leaving few in the center.

Euro and Banking Crisis

  • Euro needs to be devalued but Germany doesn’t want this.
  • Bankers are very good with their propaganda – their attitude is “if you come after us the entire system will crash”.
  • Whats happening now is similar to 1930s and 40s.
  • Politicians on both sides of Atlantic are going out of their way to protect bankers.
  • Marine LePen is rightly pointing figure at Goldman Sachs and benefiting from votes of  people who understand this.
  • LTRO (€1trn) has run out of gas after 3 months, in the past  this would have lasted a year but they can’t inflate the system.
  • What happens if you keep on pumping money in ?

Spain

  • Spain is a sinkhole and the only way you can solve it is to devalue the currency. This was done a lot in 70s and 80s.This lightens the debt burden.
  • Spain have 3 options – 1 Ask troika for €1.5 trillion(won’t happen because it’s too big), 2 Exit euro and devalue, 3 Spanish economy crashes
  • Only option 2 or 3 will happen.

BRICS

  • Collectively have €8 trillion worth of GDP, interesting as a self-sustained trading block with their own oil from Iran.
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