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Euro Pacific Capital Market Strategist John Browne on France offering subsidies to French automakers to make green cars.
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Great -- was -- -- follow up on the elbow before that here's why I think this -- going green is a bad idea.
The French luck in fact the French love it happily -- I'm telling you.
We have got to stop this lunacy out if not for me we simply do it because of this -- These crises was not originated in Europe.
Since you mentioned North America these -- just -- -- rejected us America.
OK I know he's Portuguese but again sounds friends still work with me.
He light's green technology is automatically that makes me hate them because if the French think that something is a good idea.
Automatically a bad idea remember they put egg on top of everything.
This is a country that's gone socialists.
And thinks nothing of upping the top tax rate there to 75%.
Talk about wooing investors.
And and we want to follow them.
A country probably by giving subsidies to carmakers to make green cars when French motorists themselves.
Had zero interest in these green cars just think about that the French pay more than two more times what we do it for gas say they did they'd be all over this.
But they're not.
So I'm not so I'm on the side of French drivers I actually think their right.
The French government like to think they're nuts.
They go -- all -- see is red.
And so does former UK parliament member John Browne who season when Mitt Romney's kick off foreign trip to London.
A chance to differentiate himself from big spenders and government enablers.
Not only across the European continent pretty much everywhere.
Very good.
To have you John thanks for coming thank you very much -- what do you make of -- -- and Mitt Romney's in the middle of -- -- got to make a statement to differentiate himself what does he do.
-- I I think he has got to do very I yeah I think -- would uses -- and the green thing is a -- to me it's read in the main stop economic period.
-- -- And the French I mean our eye off throughout Bosnia -- are afraid that it had centers in the divisions dictator is it never justified.
It it is unfortunate didn't embedded deep in the noose psychedelic that didn't know Barack Obama in this push for grain when the -- said we think it's a good idea that that doomed it right there right and I mean hey it hits France is the biggest problem in Europe.
But it's hidden at the moment.
Out of course on the soccer -- -- who I didn't have much mouthful but it least they did something.
And he got the retirement age up to 62 -- now along that -- -- only -- adjustment yes and I it's gonna be reduced back again to sixty.
I'm a Google pays for that.
We OLAM and I say we -- the British and end up paying because the European Central Bank -- even -- not part of this club is getting club but yeah -- the two ways Britain is having to pay because there's a member of the European Central Bank.
-- paying that way Britain is also big -- -- the IMF and is paying that way as well.
And it's also a member of the European Union's have Britain's paying three ways for a casino and it isn't even a member of the casinos -- not allowed to gamble.
At a very well it wouldn't steal that line Alistair it's shocking it's his deepest level and in your Mitt Romney you're gone abroad you're trying to show you were you know you're you're you're -- Global credit guesses is you go abroad and Israel and after this.
What's the message you want a cent I think one of responsibility.
And I think one of restoring.
Integrity.
Right Margaret -- I mean Margaret Thatcher wasn't the greatest speaker in the world but -- and -- enormous respect because she used integrity and that included financial integrity.
And the result was accrued for the blossoming.
When she -- -- I remember very chaotic as I got into parliament that she became prime minister giant -- seven to nine -- And people just didn't -- -- a lot of my back -- didn't believe what you said but then when she started doing it they were actually shocked.
And then -- work but she didn't blink at all -- -- you and I were talking about.
Everyone -- -- -- went out on strike at the time right was anyone working because everyone was on strike are out of work period end and she is not.
Blinking -- -- she's had to cut these entitlements had to get these public contracts under control.
Even our own staff was turning -- she never ever leave because she had one great advantage she believed.
In what she said even answer poll numbers were -- absolute him we had we doubled unemployment.
We did everything everything was -- stunning went to a 1121 dollar and twelve cents.
Chairman of group all four times and have backed ventures OP would stabbing on Iraq within the cabinet.
That's the is that -- leader like that you see -- -- announcement.
Well I think Mitt Romney could.
And I assistant I am afraid I receive most of those -- coming and I mean not defer -- we you've interviewed on this reservation.
I mean in the united -- an independent body he's -- -- and he believes.
Most politicians are the profits of the central banks.
-- the central bank's distribution system while the banking system.
And they've allowed it to get bigger and bigger -- -- -- discount eleven liable for manipulating may be to a three basis points we're trying to basement.
The central banks manipulated -- hundreds of basis points at that time.
They're the biggest minute and it isn't there a point we're focusing on and then -- -- -- on this tiny thing and the reason is because they want to extend regulation more control.
That's the distribution system for the central banks.
And the politicians and their profits until you get someone like Margaret Thatcher who believes in what she says and shorn off after a few years she's acts Don.
In a -- of not politically it knee deep.
We've got to bring you had a retirement -- theft -- John Brown thank you.
