{"id":586,"date":"2026-01-20T14:40:40","date_gmt":"2026-01-20T13:40:40","guid":{"rendered":"https:\/\/souverainete-suisse.ch\/?p=586"},"modified":"2026-01-20T14:40:40","modified_gmt":"2026-01-20T13:40:40","slug":"the-euro-is-not-under-threat-it-is-already-doomed-and-some-people-are-making-a-very-good-living-out-of-this-agony","status":"publish","type":"post","link":"https:\/\/test.souverainete-suisse.ch\/en\/2026\/01\/the-euro-is-not-under-threat-it-is-already-doomed-and-some-people-are-making-a-very-good-living-out-of-this-agony\/","title":{"rendered":"The euro is not under threat. It is already doomed. And some people are making a very good living out of this agony"},"content":{"rendered":"<p><em>We are repeatedly told that the euro is \u00absolid\u00bb, \u00abirreversible\u00bb and \u00abtoo important to fall\u00bb. This is precisely what was said about all the great artificial currencies before they collapsed. Behind the reassuring rhetoric lies a brutal reality: a currency without a nation, without real political sovereignty and kept alive by debt and inflation has never survived in history. The euro is no exception. It is simply following, belatedly, the same path as its predecessors - and those who refuse to see it are not defending stability, they are defending their own interests.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p id=\"ember2003\" class=\"ember-view reader-text-block__paragraph\"><em>by Ludovic Malot, economist and entrepreneur<\/em><\/p>\n<p id=\"ember2004\" class=\"ember-view reader-text-block__paragraph\">We need to get out of the rhetoric:<\/p>\n<p id=\"ember2005\" class=\"ember-view reader-text-block__paragraph\">the euro is not a fragile currency, nor is it an imperfect project in need of reform.<\/p>\n<p id=\"ember2006\" class=\"ember-view reader-text-block__paragraph\">It is a monetary construction <strong>structurally unstable<\/strong>, It is kept artificially alive by debt, regulatory coercion and the self-interested blindness of those who profit from it.<\/p>\n<p id=\"ember2007\" class=\"ember-view reader-text-block__paragraph\">It's no longer an opinion.<\/p>\n<p id=\"ember2008\" class=\"ember-view reader-text-block__paragraph\">This is a <strong>locked historical trajectory<\/strong>.<\/p>\n<h3 id=\"ember2009\" class=\"ember-view reader-text-block__heading-3\">A currency without a political basis: a permanently unstable aberration<\/h3>\n<p id=\"ember2010\" class=\"ember-view reader-text-block__paragraph\">No currency can survive in the long term without :<\/p>\n<ul>\n<li>a sovereign political authority,<\/li>\n<li>a legitimate central budget,<\/li>\n<li>explicit democratic responsibility,<\/li>\n<li>solidarity between taxpayers.<\/li>\n<\/ul>\n<p id=\"ember2012\" class=\"ember-view reader-text-block__paragraph\">The euro is not based on <strong>no<\/strong> of these pillars.<\/p>\n<p id=\"ember2013\" class=\"ember-view reader-text-block__paragraph\">It artificially aggregates heterogeneous economies - industrial, rentier, exporting, deficit - under a single rate, a uniform monetary policy and theoretically strict rules... which are systematically violated.<\/p>\n<p id=\"ember2014\" class=\"ember-view reader-text-block__paragraph\">This architecture is not imperfect.<\/p>\n<p id=\"ember2015\" class=\"ember-view reader-text-block__paragraph\">It is <strong>against nature<\/strong>.<\/p>\n<p id=\"ember2016\" class=\"ember-view reader-text-block__paragraph\">Jacques Rueff already warned:<\/p>\n<blockquote id=\"ember2017\" class=\"ember-view reader-text-block__blockquote\"><p><em>\u00abInflation is the most unfair tax, because it hits first those who have no way of protecting themselves against it.\u00bb<\/em><\/p><\/blockquote>\n<p id=\"ember2018\" class=\"ember-view reader-text-block__paragraph\">The euro institutionalises precisely this invisible tax.<\/p>\n<h3 id=\"ember2019\" class=\"ember-view reader-text-block__heading-3\">A headlong rush that is quantified, measurable and documented<\/h3>\n<p id=\"ember2020\" class=\"ember-view reader-text-block__paragraph\">The data tell a clear story:<\/p>\n<ul>\n<li>Average public debt in the euro zone: ~90 % of GDP<\/li>\n<li>Italy: ~140 %<\/li>\n<li>France: ~112 %<\/li>\n<li>ECB balance sheet: from \u20ac1,200 billion (2007) to over \u20ac7,500 billion<\/li>\n<li>TARGET2 imbalances: &gt; \u20ac1,100 billion for Germany<\/li>\n<\/ul>\n<p id=\"ember2022\" class=\"ember-view reader-text-block__paragraph\">This is not a business cycle.<\/p>\n<p id=\"ember2023\" class=\"ember-view reader-text-block__paragraph\">This is a <strong>progressive bankruptcy masked<\/strong>, made possible by :<\/p>\n<ul>\n<li>massive money creation,<\/li>\n<li>rate manipulation,<\/li>\n<li>the repression of savings,<\/li>\n<li>the silent transfer of risks to citizens.<\/li>\n<\/ul>\n<p id=\"ember2025\" class=\"ember-view reader-text-block__paragraph\">Rueff put it bluntly:<\/p>\n<blockquote id=\"ember2026\" class=\"ember-view reader-text-block__blockquote\"><p><em>\u00abThe budget deficit is the modern form of bankruptcy.\u00bb<\/em><\/p><\/blockquote>\n<p id=\"ember2027\" class=\"ember-view reader-text-block__paragraph\">The euro has not eliminated crises.<\/p>\n<p id=\"ember2028\" class=\"ember-view reader-text-block__paragraph\">It has <strong>merged<\/strong>, <strong>hidden<\/strong>, then <strong>amplified<\/strong>.<\/p>\n<h3 id=\"ember2029\" class=\"ember-view reader-text-block__heading-3\">The ECB: a monetary authority turned political power<\/h3>\n<p id=\"ember2030\" class=\"ember-view reader-text-block__paragraph\">The European Central Bank is no longer a technical arbiter.<\/p>\n<p id=\"ember2031\" class=\"ember-view reader-text-block__paragraph\">It is a <strong>unelected centre of power<\/strong> who :<\/p>\n<ul>\n<li>decides the conditions for the survival of states,<\/li>\n<li>sets the price of time (rates) for 450 million people,<\/li>\n<li>redistributes wealth through inflation,<\/li>\n<li>suspends or applies the rules depending on the political urgency.<\/li>\n<\/ul>\n<p id=\"ember2033\" class=\"ember-view reader-text-block__paragraph\">A currency held together only by :<\/p>\n<ul>\n<li>negative real rates,<\/li>\n<li>permanent debt buybacks,<\/li>\n<li>temporary exceptions\u201c that have become permanent,<\/li>\n<\/ul>\n<p id=\"ember2035\" class=\"ember-view reader-text-block__paragraph\">is no longer a sound currency.<\/p>\n<p id=\"ember2036\" class=\"ember-view reader-text-block__paragraph\">It is a <strong>a permanent crisis management tool<\/strong>.<\/p>\n<h3 id=\"ember2037\" class=\"ember-view reader-text-block__heading-3\">The euro as a disciplinary tool, not as a bargaining chip<\/h3>\n<p id=\"ember2038\" class=\"ember-view reader-text-block__paragraph\">The euro is no longer a project for shared prosperity.<\/p>\n<p id=\"ember2039\" class=\"ember-view reader-text-block__paragraph\">It is a <strong>constraint tool<\/strong> :<\/p>\n<ul>\n<li>austerity for the people,<\/li>\n<li>inflation for savers,<\/li>\n<li>dependence for governments,<\/li>\n<li>impunity for large financial structures.<\/li>\n<\/ul>\n<p id=\"ember2041\" class=\"ember-view reader-text-block__paragraph\">Budgetary sovereignty has become theoretical.<\/p>\n<p id=\"ember2042\" class=\"ember-view reader-text-block__paragraph\">Monetary sovereignty has disappeared.<\/p>\n<p id=\"ember2043\" class=\"ember-view reader-text-block__paragraph\">And when a currency is used to <strong>compel<\/strong> rather than <strong>exchange<\/strong>, It always ends up being rejected.<\/p>\n<h3 id=\"ember2044\" class=\"ember-view reader-text-block__heading-3\">The great denial of the financiers of the fiat euro<\/h3>\n<p id=\"ember2045\" class=\"ember-view reader-text-block__paragraph\">The silent culprits must be named:<\/p>\n<p id=\"ember2046\" class=\"ember-view reader-text-block__paragraph\">part of the financial world <strong>vit<\/strong>, <strong>prosperous<\/strong> and <strong>gets fatter<\/strong> on euro fiat.<\/p>\n<p id=\"ember2047\" class=\"ember-view reader-text-block__paragraph\">Banks, funds, trading desks, derivatives structures, sellers of sovereign debt, financial engineers of organised instability.<\/p>\n<p id=\"ember2048\" class=\"ember-view reader-text-block__paragraph\">Their interest is not stability.<\/p>\n<p id=\"ember2049\" class=\"ember-view reader-text-block__paragraph\">Their interest is <strong>controlled volatility<\/strong>, This is the case with perpetual debt, spreads, commissions and \u201cinnovative\u201d products backed by a fundamentally fragile currency.<\/p>\n<p id=\"ember2050\" class=\"ember-view reader-text-block__paragraph\">They know:<\/p>\n<ul>\n<li>that the debts will never be repaid,<\/li>\n<li>that the balance sheets are fictitious,<\/li>\n<li>that promises are untenable.<\/li>\n<\/ul>\n<p id=\"ember2052\" class=\"ember-view reader-text-block__paragraph\">But as long as :<\/p>\n<ul>\n<li>the ECB provides liquidity,<\/li>\n<li>States implicitly guarantee,<\/li>\n<li>losses are socialised,<\/li>\n<\/ul>\n<p id=\"ember2054\" class=\"ember-view reader-text-block__paragraph\">the system can continue... <strong>for the benefit of a few<\/strong>.<\/p>\n<p id=\"ember2055\" class=\"ember-view reader-text-block__paragraph\">Their denial is not ideological.<\/p>\n<p id=\"ember2056\" class=\"ember-view reader-text-block__paragraph\">It is <strong>financial<\/strong>.<\/p>\n<p id=\"ember2057\" class=\"ember-view reader-text-block__paragraph\">They are the last to want to see the end of the euro, because they know it will take them with it:<\/p>\n<ul>\n<li>mountains of toxic products,<\/li>\n<li>artificial valuations,<\/li>\n<li>rents built on weak money.<\/li>\n<\/ul>\n<h3 id=\"ember2059\" class=\"ember-view reader-text-block__heading-3\">How the euro will really disappear<\/h3>\n<p id=\"ember2060\" class=\"ember-view reader-text-block__paragraph\">Not through democratic debate.<\/p>\n<p id=\"ember2061\" class=\"ember-view reader-text-block__paragraph\">Not through institutional reform.<\/p>\n<p id=\"ember2062\" class=\"ember-view reader-text-block__paragraph\">But by :<\/p>\n<ul>\n<li>an uncontrollable bond crisis,<\/li>\n<li>a definitive North-South split,<\/li>\n<li>a sudden loss of confidence,<\/li>\n<li>or a unilateral exit imposed by reality.<\/li>\n<\/ul>\n<p id=\"ember2064\" class=\"ember-view reader-text-block__paragraph\">The great artificial currencies never die by decision.<\/p>\n<p id=\"ember2065\" class=\"ember-view reader-text-block__paragraph\">They die by <strong>exhaustion of credibility<\/strong>.<\/p>\n<h3 id=\"ember2066\" class=\"ember-view reader-text-block__heading-3\">Conclusion - Money lies. Reality always speaks in the end.<\/h3>\n<p id=\"ember2067\" class=\"ember-view reader-text-block__paragraph\">The euro will not be saved.<\/p>\n<p id=\"ember2068\" class=\"ember-view reader-text-block__paragraph\">It will be <strong>abandoned<\/strong>, Like all monetary constructions that have tried to ignore the fundamental laws of economics.<\/p>\n<p id=\"ember2069\" class=\"ember-view reader-text-block__paragraph\">It is not the people who will bury it first.<\/p>\n<p id=\"ember2070\" class=\"ember-view reader-text-block__paragraph\">That will be the reality.<\/p>\n<p id=\"ember2071\" class=\"ember-view reader-text-block__paragraph\">Jacques Rueff understood this:<\/p>\n<p id=\"ember2072\" class=\"ember-view reader-text-block__paragraph\">you can cheat with money for a long time - <strong>but never indefinitely<\/strong>.<\/p>\n<p id=\"ember2073\" class=\"ember-view reader-text-block__paragraph\">The euro is not inevitable.<\/p>\n<p id=\"ember2074\" class=\"ember-view reader-text-block__paragraph\">Its disappearance is not a hypothesis.<\/p>\n<p id=\"ember2075\" class=\"ember-view reader-text-block__paragraph\">This is a <strong>historical certainty<\/strong>.<\/p>\n<p id=\"ember2076\" class=\"ember-view reader-text-block__paragraph\">The only question now is no longer <em>if<\/em>,<\/p>\n<p id=\"ember2077\" class=\"ember-view reader-text-block__paragraph\">but <em>who will have prepared<\/em>\u2026<\/p>\n<p id=\"ember2078\" class=\"ember-view reader-text-block__paragraph\">and <em>who will pay the final bill<\/em>.<\/p>\n<p id=\"ember2079\" class=\"ember-view reader-text-block__paragraph\"><strong>Straightforward advice<\/strong> Get rid of this monkey money while you still can - whether held in cash, financial products or euro-denominated life insurance policies. Reduce your exposure before the exit closes.<\/p>\n<p id=\"ember2080\" class=\"ember-view reader-text-block__paragraph\">The only credible protection for capital in a monetary system at the end of the cycle is outside the promise, outside the intermediary and outside the bank balance sheet: <strong>physical precious metals<\/strong>. Gold and silver metal. Nothing else.<\/p>\n<p id=\"ember2081\" class=\"ember-view reader-text-block__paragraph\">Real physical products, held directly, at home or outside the banking system. No paper products. No \u201cstructured solutions\u201d. No financial mirages.<\/p>\n<p id=\"ember2082\" class=\"ember-view reader-text-block__paragraph\">Don't want to change your trajectory? It's up to you.<\/p>\n<h3 id=\"ember2083\" class=\"ember-view reader-text-block__heading-3\">But let there be no doubt: you have been warned.<\/h3>\n<p id=\"ember2085\" class=\"ember-view reader-text-block__paragraph\"><strong>\ud83c\udde8\ud83c\udded Without funding, there can be no resistance. Support Swiss Sovereignty now: <\/strong><a class=\"jfbWUPNxlgdMWLZQsnNKHMbqnahhigUo\" tabindex=\"0\" href=\"https:\/\/test.souverainete-suisse.ch\/en\/make-a-donation\/\" target=\"_self\" data-test-app-aware-link=\"\"><strong>https:\/\/test.souverainete-suisse.ch\/faire-un-don\/<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>On nous r\u00e9p\u00e8te que l\u2019euro est \u00ab solide \u00bb, \u00ab irr\u00e9versible \u00bb, \u00ab trop important pour tomber \u00bb. C\u2019est pr\u00e9cis\u00e9ment ce que l\u2019on disait de toutes les grandes monnaies artificielles avant leur effondrement. Derri\u00e8re les discours rassurants se cache une r\u00e9alit\u00e9 brutale : une monnaie sans nation, sans souverainet\u00e9 politique r\u00e9elle et maintenue en vie [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":587,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,11],"tags":[],"class_list":["post-586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politique-interieure","category-ue"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>L\u2019euro n\u2019est pas menac\u00e9. Il est d\u00e9j\u00e0 condamn\u00e9. Et certains vivent tr\u00e8s bien de cette agonie - Mouvement Souverainet\u00e9 Suisse<\/title>\n<meta name=\"description\" content=\"Analyse cinglante de l\u2019euro fiat : monnaie sans souverainet\u00e9, dettes, inflation et d\u00e9ni financier. Pourquoi l\u2019euro est structurellement condamn\u00e9\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/test.souverainete-suisse.ch\/en\/2026\/01\/the-euro-is-not-under-threat-it-is-already-doomed-and-some-people-are-making-a-very-good-living-out-of-this-agony\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"L\u2019euro n\u2019est pas menac\u00e9. Il est d\u00e9j\u00e0 condamn\u00e9. 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