Yellow Vest protesters are planning another demonstration, this time outside the Rothschild Bank of Lyon, France.
A Facebook event reveals over 3,000 French Yellow Vest protesters have expressed interest in attending a protest at the Rothschild Bank of Lyon, France, due in part to a 40-year-old grievance with France’s private banking system.
The event description explains that “The [French] state borrows from private banks, digs debt,” allowing the private banks to make money from interest loans made to the French government.
In 1973, after intense lobbying from the Rothschild Bank of France, French President George Pompidou signed legislation preventing the government from taking 0 percent interest loans from the Bank of France, the country’s central bank. Instead, the Bank of France is required to loan money to private banks, such as the Rothschild Bank of France, which can then lend money to the French government with interest.
The Huffington Post reported in 2012:
In 1973, France did not have a debt problem and the national budget was balanced. Indeed, the state could borrow directly from the Bank of France to finance the building of schools, road infrastructure, ports, airlines, hospitals and cultural centers, something that it was possible to do without being required to pay an exorbitant interest rate. Thus, the government rarely found itself in debt. Nonetheless, on January 3, 1973, the government of President George Pompidou — Pompidou was himself a former general director of the Rothschild Bank — influenced by the financial sector, adopted Lawfocusing on the Bank of France. It was nicknamed the “Rothschild law” because of the intense lobbying by the banking sector which favored its adoption. Formulated by Olivier Wormser, Governor of the Bank of France, and Valéry Giscard d’Estaing, then Minister of the Economy and Finance, it stipulates in Article 25, that “the State can no longer demand discounted loans from the Bank of France.”
Many of the Yellow Vest protesters point to this legislation as the cause of France’s swelling public debt. Since 1980, France’s public debt expanded from a historic low of 56.17 percent of France’s Gross Domestic Product to 97 percent in 2017.
“Very good initiative,” one protester wrote on Facebook, “Finally we protest the real debt managers and not their puppets.”
The protest, titled “Les Gilets Jaune Bloque La Banque Rothschild de Lyon”, is scheduled for Tuesday, January 9.
Italian Populist Youth Group Praises Trump for His Peace Efforts
The Lega Nord is one of Europe’s strongest populist parties.
The Lega Giovani, the youth branch of Salvini’s Lega party, announced its support in nominating President Donald Trump for the Nobel Peace Prize.
Due to Trump’s efforts in brokering peace deals between Gulf Arab states and Israel, one Norwegian lawmaker Christian Tybring-Gjedde nominated the president for the Nobel Peace prize.
In a statement, Luca Toccalini, a member of the Italian Parliament and Chairman of Lega Giovani, declared that the “globalist left is losing its mind, scared by the outcome of the upcoming American elections, and this latest news decisively increased their worries.”
Toccalini added that Lega Giovani “strongly” supports the “nomination of President Donald Trump, a just reward for the continued dedication of his administration for lasting peace with a bilateral and multi polar approach.”
The populist Italian member of Parliament noted how Trump’s Middle East agenda has contrasted with Obama’s:
After a decade of turmoil in the Middle East and North Africa, sponsored by a globalist agenda and President Obama’s dreams of revolution, the last 4 years have seen great improvement for the stability in our neighbourhood which has also helped Europe.
Wishing four more years of peace and greatness, as Lega Giavani we strongly support Donald J. Trump for the Nobel Peace Prize.
Matteo Salvini and Lega have led the way in putting populism on the map throughout Europe. Salvini broke the mold by implementing pro-gun reforms in 2018 and 2019. What seems like a concept that is only confined to the U.S., now the right to bear arms is starting to enter the conversation in Europe. Political organizations like Lega have undoubtedly changed political discourse in Italian politics and Europe, for that matter.
Youth organizations such as Lega Giovani will play a substantial role in spreading Lega’s message and educating younger generations of Italians and preparing them to be the new populist vanguard of an ever-changing European polity.
The message can be read here.
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