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Emmanuel Macron is the new president of France - my reaction


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#1 Just_One_Question

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Posted 07 May 2017 - 07:39 PM

As someone whose entire net worth is invested in gold, this was my exact reaction to learning that the new president of France will be Emmanuel Macron.:lmao:
joey-loses-award-o.gif
To be honest, he was the better candidate even though it would have sure benefited me for Le Pen to win.

Anyways, congratulations to Macron and anyone who votted for him. Viva La France!

...I, and the rest of the guys who shorted the Euro, will be counting our pennies here...until the Italian election comes!
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#2 britechguy

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Posted 08 May 2017 - 03:07 PM

Well, those of us who've been bitterly sorrowful about the surge of right-wing populism that seemed (I would have said "seems" until yesterday's French election results) to be sweeping the world of western democracies are very, very relieved.

 

Let's hope this is the beginning of the pendulum swing back toward general political and public policy sanity.


Brian AKA Bri the Tech Guy (website in my user profile) - Windows 10 Home, 64-Bit, Version 1803, Build 17134 

 

     In a modern society where everyone thinks their opinion deserves to be heard nothing annoys me more than individuals who mistake their personal preferences for fact.

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#3 Just_One_Question

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Posted 08 May 2017 - 03:59 PM

Let's hope this is the beginning of the pendulum swing back toward general political and public policy sanity.

It literally never ends. It(the current politics), as with anything in life, is pretty cyclical. It was clear ever since the first batch of refugees in Europe and the terrorist massacre in that gay club in America that populist-rightists would leverage the whole situation to their rise to power. I wouldn't be surprised one bit if after the next recession different, this time left, populists start throwing around 'Nationalise this! Regulate that!' once again. I, personally, don't really care all that much for this pattern. Just want nobody to get hurt and no extremist bull to be thrown around. My personal feeling is that such occurences happen as some societal psychological deffense mechanisms. Right now - "There's no way that I and the other people around me don't feel happy, because we made poor decisions in life! It's these guys - the refugees and the blacks and the 'insert minority here' who made us be like that! I am sure Le Pen will restore my happiness by getting us out of the Eurozone!". Or on the left when they start demonizing every person of means ever, even though they themselves aren't doing all that bad financially in life either.
Cycles, cycles...what can one do, eh? I personally voted on the last election in my country, couple of months ago, for the classic (read non-crazy) rightist party, but, of course, me and the other 300,000 people didn't manage to get enough votes to send atleast 1 representative of our views in parliment. Meanwhile, corrupt hateful bullies got like millions of votes. :/
But anyways, I tried to make a profit out of the bet that the French people would elect Le Pen, who would enact a nation-wide referendum in support of leaving the European Union & the Eurozone, which in turn would have made a substantial hit in the Euro currency and thus benefited me as a holder of gold.
I guess, I would just have to wait for that tech bubble to burst after all, lol.:lmao:
:)

#4 britechguy

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Posted 08 May 2017 - 07:26 PM

JOQ wrote:  ". . . thus benefited me as a holder of gold."

 

I know you're only 21 years old, and I also know that gold holds its value in turbulent times like nothing else.

 

That being said:  Take the long view, and in doing so know that gold has historically not been the best long term investment if one is seeking appreciation.  Neither are diamonds, another of the things (provided that they are large enough and flawless or very nearly so with excellent color or fancy color) that people like to invest in "because they hold their value" (and historically are much worse at it than gold is).


Brian AKA Bri the Tech Guy (website in my user profile) - Windows 10 Home, 64-Bit, Version 1803, Build 17134 

 

     In a modern society where everyone thinks their opinion deserves to be heard nothing annoys me more than individuals who mistake their personal preferences for fact.

         ~ Commenter TheCruyffGurn on the The Guardian website, 8/13/2014

 

              

 


#5 Just_One_Question

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Posted 08 May 2017 - 07:58 PM

I know. I only have ~$7,000 saved for my immigration to America. I was wondering where to put them and since I may need them for SAT fees, etc. at any time, I opted out of investments, such as stocks & bonds or mutual & index funds. Thus, I was left with basically putting them in short-term savings accounts. However, our currency, the Bulgarian Lev, is pegged to the the Euro, so they move together. I wasn't sure about the short/medium-term future of the Eurozone, so I excluded these 2 currencies. I wasn't sure about the future of the dollar either (this was shortly before the USA presidential election), so I didn't choose it as a storage of value as well. I ultimately traded ~90% of my money for gold as it had the best prospects in the around 5 more years that I plan on staying in here. The rest ~10% are in a 3-year automatically renewed savings account where I am allowed to draw from if I need to, although that restarts the accruing of its monthly interest.
I understand that gold is not even an investment, as it doesn't really do anything, besides sitting there and shining. I just wanted it as a substitute of potentially weak currencies. The perfect scenario, albeit a grim one, would be for, what I believe is, the tech bubble to burst relatively shortly before my departure for America, so that I could cash in, having preserved the value of my savings.
I just don't want to lose purchasing power amid fears of rising inflation due to quantitative easing by the FED via keeping the interest rates low for too prolonged a time frame.:)

#6 techghost

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Posted 11 May 2017 - 01:07 PM

i think he was the better candidate and deserved to win. 






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