Latest / Neil McCoy-Ward Podcast / They Said THIS Couldn’t Happen To A Western Country – (But It Is...)

Transcript

They Said THIS Couldn’t Happen To A Western Country – (But It Is...) · Neil McCoy-Ward Podcast

• 0:00
  SPEAKER_00: It is about to get ugly between Macron and J.D.
• 0:05
  SPEAKER_00: Vance.
• 0:06
  SPEAKER_00: We already know that they don't like each other.
• 0:09
  SPEAKER_00: I think they've both made that very plain,
• 0:13
  SPEAKER_00: especially with the comment of Macron being a wet blanket.
• 0:18
  SPEAKER_00: Which he is.
• 0:20
  SPEAKER_00: But this is where it's really heating up today then.
• 0:23
  Macron has just dropped a bombshell in retaliation to what he
• 0:29
  feels is a failure by
• 0:32
  SPEAKER_00: the EU to actually go after President Trump and J.D.
• 0:36
  SPEAKER_00: Vance over these tariffs.
• 0:38
  SPEAKER_00: He said that we should have fought them.
• 0:41
  SPEAKER_00: We should have got together and fought them off with these tariffs.
• 0:45
  SPEAKER_00: Good luck with that.
• 0:46
  So he's just dropped a massive bombshell and he said that the
• 0:49
  EU should now fight
• 0:52
  or strike back against the US and go after the big tech firms
• 0:57
  and their profits.
• 0:59
  SPEAKER_00: And here's something I prepared earlier for you.
• 1:02
  SPEAKER_00: This is where it gets pretty crazy.
• 1:05
  So let me tell you some of the things that he has proposed
• 1:09
  then,
• 1:10
  what he says we should do.
• 1:12
  SPEAKER_00: We, they, should do.
• 1:14
  SPEAKER_00: Hefty fines of 10 to 20% of global annual turnover.
• 1:21
  Forcing structural changes like breaking up services like
• 1:25
  WhatsApp from Meta.
• 1:27
  Blocking or suspending services then if the EU companies don't
• 1:33
  comply or the
• 1:35
  SPEAKER_00: American companies in the EU don't comply.
• 1:38
  digital taxation France has already pushed for a digital
• 1:41
  services tax on revenues
• 1:43
  of these US companies these are that are operating in Europe
• 1:48
  basically the EU
• 1:49
  doesn't want these US tech companies in Europe because they're
• 1:52
  not making a lot of
• 1:54
  profit from them so this is what this is really about they're
• 1:58
  talking about a wider
• 1:59
  SPEAKER_00: digital tax to roll out on American firms
• 2:03
  SPEAKER_00: And the irony is this is 90% of the tech firms are American.
• 2:07
  SPEAKER_00: So it's going to be hit hard on Americans.
• 2:11
  SPEAKER_00: Data and privacy then.
• 2:12
  They are looking to tighten the rules on data transfers outside
• 2:17
  of Europe.
• 2:19
  SPEAKER_00: And this could just cripple the US firms.
• 2:20
  SPEAKER_00: They won't be able to move data back and forth.
• 2:24
  And remember that they find Google 8 billion already and
• 2:29
  they're now looking to go
• 2:30
  SPEAKER_00: after the App Store,
• 2:32
  SPEAKER_00: Microsoft,
• 2:34
  SPEAKER_00: Amazon's marketplace,
• 2:36
  SPEAKER_00: all sorts of other things here that is what they're looking to go after.
• 2:40
  SPEAKER_00: Now,
• 2:40
  let's go over to the shared screen and let's pick up on what
• 2:45
  the media is talking
• 2:46
  SPEAKER_00: about with this.
• 2:47
  So here we go,
• 2:48
  Macron wants the EU to target US big tech after the Trump
• 2:52
  tariff threat.
• 2:53
  SPEAKER_00: Look at this guy, isn't he a tough guy?
• 2:55
  SPEAKER_00: Oh, so strong.
• 2:58
  SPEAKER_00: Paris,
• 2:59
  Macron has told ministers that the EU should consider these
• 3:03
  retaliatory measures
• 3:05
  SPEAKER_00: against the US digital sector.
• 3:08
  This is after President Trump threatened additional tariffs
• 3:11
  over tech regulation and taxes.
• 3:14
  So this week he said then that Europe should not exclude taking
• 3:19
  a look at the digital sector.
• 3:22
  A person close to Macron confirmed that exploring a possible
• 3:26
  retaliation against US
• 3:28
  SPEAKER_00: digital players was indeed his stance.
• 3:30
  SPEAKER_00: So they're not even denying it, this is his stance.
• 3:34
  Trump threatened on Monday to impose further tariffs on
• 3:38
  countries whose digital
• 3:39
  SPEAKER_00: rules discriminate against American companies.
• 3:43
  So I think we can say with pretty clear intentions here that
• 3:47
  this is going to heat up.
• 3:49
  SPEAKER_00: I know J.D.
• 3:50
  Vance is going to be,
• 3:51
  because he's the tech guy for Trump,
• 3:53
  because of his background in tech.
• 3:55
  SPEAKER_00: So he's going to be looking at this very heavily.
• 3:57
  SPEAKER_00: And I'm sure he is not.
• 4:00
  I mean,
• 4:00
  this is just going to be a battle between these two,
• 4:03
  Vance and Macron.
• 4:04
  SPEAKER_00: Not much of a battle.
• 4:05
  SPEAKER_00: It'd be good to see them in the octagon, actually.
• 4:08
  SPEAKER_00: I think it would probably last a few seconds and...
• 4:11
  tap him out he'd probably cry cry to his wife cry to his uh dad
• 4:18
  someone anyway
• 4:20
  let's carry on france has long been at the forefront of
• 4:24
  european calls to take a
• 4:25
  tougher line against trump on trade however a majority of eu
• 4:30
  countries lack the
• 4:31
  SPEAKER_00: appetite to launch a full-scale trade war
• 4:35
  SPEAKER_00: And remember,
• 4:36
  SPEAKER_00: they've still got this bazooka,
• 4:37
  SPEAKER_00: as they call it,
• 4:38
  SPEAKER_00: the anti-coercion instrument that they said they were going to use.
• 4:43
  SPEAKER_00: We're going to use this against Trump.
• 4:45
  SPEAKER_00: Did they use it?
• 4:45
  SPEAKER_00: No, they didn't.
• 4:48
  SPEAKER_00: This could,
• 4:48
  SPEAKER_00: with the support of most member countries,
• 4:51
  be used to restrict IP rights of US tech giants or bar them
• 4:56
  from the EU entirely.
• 5:00
  SPEAKER_00: So what did Ursula von der Leyen said then?
• 5:03
  SPEAKER_00: All instruments are on the table to respond to Trump,
• 5:06
  but she shied away from taking a hard line to keep him engaged
• 5:11
  in efforts to end
• 5:12
  SPEAKER_00: the war in Ukraine.
• 5:14
  SPEAKER_00: If you believe that, you will believe anything.
• 5:17
  SPEAKER_00: The bottom line is they don't want this war to end in Ukraine.
• 5:20
  SPEAKER_00: That's why they're ramping up all the weapons manufacturing.
• 5:24
  SPEAKER_00: They're making a fortune, these politicians.
• 5:26
  SPEAKER_00: Don't take my word for it.
• 5:28
  SPEAKER_00: Look into this for yourself.
• 5:29
  SPEAKER_00: They're making a fortune because they know what they know.
• 5:34
  It's a bit like Nancy Pelosi,
• 5:35
  the world's,
• 5:36
  the history's best stock investor.
• 5:39
  SPEAKER_00: Incredible, incredible, considering she's not actually a stock investor.
• 5:43
  SPEAKER_00: She's a politician, but somehow she managed to beat Warren Buffett.
• 5:48
  SPEAKER_00: You know, these people, they're just unbelievable, aren't they?
• 5:50
  SPEAKER_00: So they don't want this war to end.
• 5:51
  SPEAKER_00: That's the first thing.
• 5:54
  SPEAKER_00: So he's said that Macron's the French president.
• 5:58
  SPEAKER_00: Is he actually president still?
• 6:00
  SPEAKER_00: He seems to be like lingering like a bad smell.
• 6:03
  SPEAKER_00: I'm not exactly sure if he is the president at the minute.
• 6:06
  SPEAKER_00: Prime Minister, President, we'll have to check that.
• 6:10
  SPEAKER_00: But he said that, you know, this was not good enough, what they did.
• 6:14
  And he's now expected to raise the issue with German Chancellor
• 6:17
  this week during a
• 6:19
  SPEAKER_00: two-day stay in Macron's summer retreat.
• 6:22
  SPEAKER_00: Oh, very nice.
• 6:24
  SPEAKER_00: Very nice.
• 6:24
  SPEAKER_00: I'm sure we all wish we had a nice summer retreat like that.
• 6:30
  SPEAKER_00: But he's got bigger problems, I would say.
• 6:32
  The French government is on the verge of collapse,
• 6:36
  raises stake of a planned national shutdown.
• 6:39
  SPEAKER_00: Yes,
• 6:39
  SPEAKER_00: ladies and gents,
• 6:40
  SPEAKER_00: if you didn't know this,
• 6:41
  SPEAKER_00: the French government is borderline about to collapse right now,
• 6:46
  SPEAKER_00: any day.
• 6:47
  It can happen probably around the 8th to 10th of September,
• 6:50
  but it is very close to collapsing.
• 6:52
  SPEAKER_00: So
• 6:54
  SPEAKER_00: Let me just think this through.
• 6:55
  SPEAKER_00: I'm him.
• 6:56
  SPEAKER_00: I'm Macron.
• 6:57
  SPEAKER_00: My government's about to collapse.
• 6:59
  SPEAKER_00: What am I more concerned with?
• 7:01
  SPEAKER_00: That or getting into a tit for tat with Trump and J.D.
• 7:06
  SPEAKER_00: Vance?
• 7:08
  SPEAKER_00: Let me think here.
• 7:11
  SPEAKER_00: I mean, does this make any sense to you?
• 7:15
  SPEAKER_00: What are they saying there?
• 7:17
  SPEAKER_00: They are very close to, here he goes, here's France's prime minister.
• 7:21
  SPEAKER_00: So maybe he is the president still.
• 7:23
  A major test looms for France following the likely collapse of
• 7:27
  the government on September 8th.
• 7:30
  Increasing numbers of people appear to be heeding the cause of
• 7:33
  a murky leaderless
• 7:35
  SPEAKER_00: crusade for a national shutdown on September 10th.
• 7:38
  SPEAKER_00: Interesting, and September 13th, of course, is a key day in the UK.
• 7:43
  SPEAKER_00: The movement,
• 7:43
  initially made up of a constellation of anonymous
• 7:46
  anti-government accounts of
• 7:47
  SPEAKER_00: varying political affiliations,
• 7:50
  SPEAKER_00: began earlier this summer,
• 7:52
  SPEAKER_00: reaching the general public good as anger grew over this phenomenon.
• 7:59
  $43 billion from the 2026 budget and slash to bank holidays
• 8:04
  without offering wage compensation.
• 8:07
  SPEAKER_00: Yet the French are not going to settle for that.
• 8:09
  SPEAKER_00: You try and take their bank holidays, you're in big trouble.
• 8:12
  SPEAKER_00: If people still show up in large numbers,
• 8:14
  SPEAKER_00: however,
• 8:14
  SPEAKER_00: Macron will be left to deal with the aftermath.
• 8:19
  SPEAKER_00: So they just did this poll then,
• 8:20
  SPEAKER_00: it was commissioned by RTL,
• 8:23
  showed two in three respondents voiced support for shutting
• 8:26
  down the country on
• 8:28
  SPEAKER_00: September 10th,
• 8:29
  including an overwhelming majority of voters on both the left
• 8:32
  and the right.
• 8:34
  SPEAKER_00: Goodness me, getting the left and right to agree on something.
• 8:37
  SPEAKER_00: That's impressive.
• 8:39
  So he could become the second of Macron's prime ministers to
• 8:42
  fall in less than a
• 8:43
  SPEAKER_00: year if he loses next week's vote.
• 8:46
  SPEAKER_00: Look at this.
• 8:47
  SPEAKER_00: Look how tough this guy.
• 8:48
  SPEAKER_00: Look at these photos.
• 8:49
  SPEAKER_00: He's powerful.
• 8:50
  SPEAKER_00: I had a haircut like that when I was about 13, actually, funny enough.
• 8:55
  SPEAKER_00: So calls for Macron's resignation extend beyond the radical left.
• 9:00
  SPEAKER_00: It's also the right as well.
• 9:02
  SPEAKER_00: And everyone's coming out in support.
• 9:04
  of his resignation yes Macron must accept that the French
• 9:08
  people no longer want him
• 9:10
  and act like a statesman that is indeed true please drop a
• 9:15
  comment below what you
• 9:17
  think of this and remember to subscribe as we go through the
• 9:20
  video here very
• 9:22
  SPEAKER_00: important so you get these uh you get these videos let's carry on
• 9:26
  So then,
• 9:27
  France may need an IMF bailout,
• 9:29
  they're now saying,
• 9:30
  warns the finance minister.
• 9:31
  SPEAKER_00: Ladies and gentlemen, this is going from bad to worse.
• 9:34
  SPEAKER_00: This is,
• 9:35
  France has got some big issues and yet they're poking their
• 9:39
  nose into America's
• 9:40
  SPEAKER_00: business.
• 9:41
  SPEAKER_00: So they're seeking a bailout from the IMF, the International Mafia Fund.
• 9:47
  SPEAKER_00: And by the way,
• 9:48
  once you go there you are in big trouble you have got to do
• 9:53
  pretty much whatever
• 9:54
  the imf this three-letter globalist organization tells you as a
• 9:57
  country look at
• 9:59
  greece they've still never recovered these i mean how long have
• 10:03
  these these summer
• 10:04
  riots gone on in greece now over these imf pro they've been
• 10:07
  going on forever
• 10:09
  SPEAKER_00: You never get out under the thumb with the IMF.
• 10:13
  SPEAKER_00: And if you ever want to know, where does their money come from, though?
• 10:17
  SPEAKER_00: How can they bail out a whole country?
• 10:19
  SPEAKER_00: Where does that money come from?
• 10:22
  SPEAKER_00: That is a mystery indeed.
• 10:24
  SPEAKER_00: It is.
• 10:24
  I wonder if anyone's ever done an investigation into that on
• 10:28
  this channel here.
• 10:30
  SPEAKER_00: Who knows?
• 10:32
  SPEAKER_00: So yes, they're on the brink of collapse.
• 10:35
  SPEAKER_00: The long-term borrowing costs hit the highest level since 2011.
• 10:38
  SPEAKER_00: This is the second collapse within a year, possibly.
• 10:43
  SPEAKER_00: And what else have we got?
• 10:46
  SPEAKER_00: Budget deficit is on course to hit 5.4% of GDP this year.
• 10:49
  SPEAKER_00: He's admitted that
• 10:53
  SPEAKER_00: that asking the IMF to intervene is a risk that is in front of us.
• 10:57
  SPEAKER_00: Yeah, I'll say it's a risk.
• 10:58
  SPEAKER_00: Good luck getting out of that from a loan shark like the IMF.
• 11:04
  SPEAKER_00: France has never received a bailout from the IMF,
• 11:07
  but the collapse of its government would leave the country in a
• 11:09
  precarious position
• 11:11
  SPEAKER_00: with a record debt of 3.3 trillion euros.
• 11:15
  SPEAKER_00: Here it is.
• 11:16
  SPEAKER_00: And here's the forecast.
• 11:18
  SPEAKER_00: Good luck getting out of this.
• 11:19
  SPEAKER_00: They are in a debt spiral now, ladies and gents.
• 11:23
  And once you go into a debt spiral,
• 11:25
  it's very,
• 11:25
  very difficult to get out of that debt spiral.
• 11:27
  SPEAKER_00: The country...
• 11:29
  SPEAKER_00: I mean,
• 11:29
  SPEAKER_00: Macron,
• 11:30
  SPEAKER_00: he's got his summer villa and he's got all of his,
• 11:33
  SPEAKER_00: you know,
• 11:34
  SPEAKER_00: expensive things and he's got all of his money.
• 11:36
  SPEAKER_00: He...
• 11:38
  SPEAKER_00: He isn't going to care, right?
• 11:40
  SPEAKER_00: All of these people, the politicians, they're not going to care.
• 11:42
  SPEAKER_00: It's the people,
• 11:43
  SPEAKER_00: the citizens,
• 11:44
  who are going to be on the hook for all of this debt and trying
• 11:48
  to pay it off
• 11:49
  SPEAKER_00: forever.
• 11:49
  SPEAKER_00: It's going to be bad, let's just say that.
• 11:54
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• 11:55
  we've talked about this a lot with the gold and silver stuff
• 11:58
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• 11:59
  SPEAKER_00: covered.
• 12:00
  SPEAKER_00: The key thing is that all of these countries are in this debt spiral.
• 12:05
  SPEAKER_00: Their currencies are going to weaken.
• 12:07
  SPEAKER_00: They're going to continue to weaken.
• 12:10
  you could have one or two that strengthen but let's just put
• 12:13
  those to the side the
• 12:14
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• 12:18
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• 12:19
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• 12:23
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• 12:25
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• 14:11
  SPEAKER_00: And where were we?
• 14:13
  SPEAKER_00: Okay, we got to the GDP, the debt levels here.
• 14:15
  SPEAKER_00: The bonds as well, this is a big one.
• 14:18
  This has now sent the 30-year French bonds up three basis
• 14:23
  points to a 14-year high of 4.42%.
• 14:27
  This is the highest level since March here,
• 14:30
  but this is really high,
• 14:32
  4.42.
• 14:33
  SPEAKER_00: The government can't afford that sort of a rate.
• 14:35
  SPEAKER_00: It's going to have big problems.
• 14:38
  Increased volatility and pressure is what's expected on French
• 14:41
  bonds in the coming days.
• 14:45
  SPEAKER_00: France's mountainous,
• 14:47
  SPEAKER_00: look at that for a word,
• 14:48
  mountainous debt pile currently eclipses the size of its entire
• 14:52
  economy with the
• 14:53
  SPEAKER_00: IMS latest forecast suggesting it could hit 116% of GDP this year.
• 14:59
  SPEAKER_00: There's no way out of that.
• 15:00
  SPEAKER_00: If you're going into debt by that amount every year, there's no way out.
• 15:04
  SPEAKER_00: Okay.
• 15:06
  SPEAKER_00: Now, a lot of the French banks as well have been hit badly.
• 15:10
  SPEAKER_00: BNP Paribas was down 5%.
• 15:11
  SPEAKER_00: Soviet General shed more than 6%.
• 15:15
  SPEAKER_00: The CAC 40, actually, let's pull that chart up.
• 15:20
  SPEAKER_00: You can see since, where are we?
• 15:22
  SPEAKER_00: Friday here was at 7954.
• 15:26
  SPEAKER_00: It dropped all the way down to 7681.
• 15:27
  SPEAKER_00: So it's not doing well on the charts at all.
• 15:32
  And then for everyone going,
• 15:33
  oh,
• 15:33
  thank goodness,
• 15:34
  it's not Britain for a change.
• 15:35
  SPEAKER_00: Actually, sorry, ladies and gents, but it is.
• 15:38
  SPEAKER_00: Britain is racing towards an IMF bailout as well.
• 15:44
  SPEAKER_00: This will be insane.
• 15:46
  SPEAKER_00: If Britain does an IMF bailout alone, wow, wow.
• 15:51
  SPEAKER_00: They're saying then that this could be a possibility.
• 15:55
  SPEAKER_00: The bond market has heard the message.
• 15:57
  SPEAKER_00: Here we go.
• 15:58
  SPEAKER_00: So we just showed you the French bonds.
• 16:01
  SPEAKER_00: Well, this dark blue chart here, that's the UK bonds, 4.7%.
• 16:08
  SPEAKER_00: So it's actually above Italy and France here.
• 16:13
  SPEAKER_00: So this is obviously a little bit backdated as you can see too.
• 16:17
  um august here but you can see the principle of what's going on
• 16:21
  debt then the uk's
• 16:22
  pile of public debt is sitting at 96 of the size of the economy
• 16:27
  it's the fifth
• 16:28
  highest in the developed world i thought this was quite funny
• 16:31
  although it has not
• 16:33
  SPEAKER_00: recently been getting any worse oh well thank goodness for that then
• 16:37
  SPEAKER_00: And here's the GDP debt to GDP ratio by country.
• 16:41
  SPEAKER_00: Here's France here, Italy, really bad.
• 16:45
  SPEAKER_00: It's obviously getting worse every year.
• 16:47
  SPEAKER_00: The UK, 104%.
• 16:50
  SPEAKER_00: But there's Greece that everyone always talks about.
• 16:52
  SPEAKER_00: It's actually been getting better.
• 16:54
  SPEAKER_00: Greece is reducing while the UK is increasing.
• 16:58
  And this ratio will obviously get worse if the government needs
• 17:01
  to borrow more.
• 17:03
  SPEAKER_00: And that will happen if the budget deficit keeps getting bigger.
• 17:07
  SPEAKER_00: I think they should say when the deficit keeps getting bigger,
• 17:11
  SPEAKER_00: because it's obviously going to get bigger.
• 17:13
  SPEAKER_00: Now,
• 17:13
  SPEAKER_00: even if either government wanted to increase taxes,
• 17:15
  SPEAKER_00: both are already squeezing the pips of their economies.
• 17:20
  Britain's tax take as a share of GDP will reach a record 38% in
• 17:23
  2027 to 28%.
• 17:28
  SPEAKER_00: And France is already at 46%.
• 17:31
  Hopes for spending cuts are complicated by the fact that both
• 17:33
  leaders have already
• 17:34
  SPEAKER_00: told President Trump that they will lift defense spending.
• 17:39
  SPEAKER_00: Yes, defense spending is the way they are going.
• 17:46
  I just wanted to say as well,
• 17:48
  thank you for all the new subscribers to the channel.
• 17:50
  SPEAKER_00: It's so great to have you here.
• 17:52
  SPEAKER_00: Really appreciate you.
• 17:53
  SPEAKER_00: I hope you like the streams and the occasional videos here.
• 17:58
  SPEAKER_00: And yeah, thanks for being a subscriber.
• 18:00
  SPEAKER_00: Take care.
• 18:00
  SPEAKER_00: God bless you.
• 18:01
  SPEAKER_00: God bless your families.
• 18:02
  SPEAKER_00: And I'll see you on the next one.
• 18:03
  SPEAKER_00: Bye for now.