Showing posts with label Party for Freedom. Show all posts
Showing posts with label Party for Freedom. Show all posts

Monday, March 27, 2017

Did Erdogan Just Hand Rutte The Dutch Election?

By Chris at www.CapitalistExploits.at


It was a phenomenal rise. Geert Wilders, a complete nothing a decade ago, came out of the blue to make a challenge for the top spot in Dutch politics. In doing so he scared the willies out of the ruling elite across Europe.


In the dying minutes of the game, Wilders failed to clinch the required votes to ascend him to the throne.


What"s fascinating was how this all went down. As Jan and Marijke were gearing up to head to the polls all hell broke loose.


Some Background First


The last thing that Mark Rutte, the incumbent, needed in the dying minutes of the game was anything that could potentially add fuel to the anti-islamic populist fire. That would play directly into Wilders" hand. What kind of thing?


Oh, say something like a political rally held for a Middle Eastern European dictator politician campaigning... on Dutch soil. These campaigns have been going on for some time across Europe and have an odd habit of turning violent.


Foreign politics is increasingly embedded in Europe. With millions of Turkish immigrants now living in Europe, Erdogan can"t afford to ignore this electorate and so his political campaigns need to be brought onto European soil.


Europeans, for their part, have for years been quietly tucking their tails between their legs and saying to one another: "Oh, you know, we need to accept the differences of opinion - it"s the European way".


That was all working dandily until Fleur got stabbed on the train ride home by a nutter yelling at her for wearing a short skirt and upsetting Allah and Hans" daughter was raped at the local swimming pool by a group of immigrants who believe she was "asking for it" by wearing a bikini.


It all sounds good in theory but behind closed doors people like it as much as they like a good dose of venereal warts.


Jan and Marijke have been leaning towards Geert despite his looking suspiciously like a masculine incarnation of Barbie.


Why? In large part because they"re none to happy with what they see as the islamisation of their country.


Mark Rutte, the incumbent, favouring the politically correct approach of his European counterparts was fast losing ground to Wilders on these issues.


Violence at these political rallies has become fairly common and Rutte, no doubt fearing any such event would simply fuel the sentiment that had already driven Wilders into a contesting position, decided to ban Turkey"s foreign minister from holding a public rally in the country. And to make sure that this was implemented revoked his flight permit to even land.


Rutte was most likely expecting stern words through the usual diplomatic channels but most importantly nothing that would upset Jan and Marijke as they were preparing themselves for the big day at the voting booths.


And Then All Hell Broke Loose...


Instead of a quiet tiff between diplomats far from the media"s eye this immediately burst into the wide open.


Erdogan promptly called the Europeans Nazis which is pretty damn funny given the following:



Turks, perhaps a little confused as to which country they are actually guests in, became incensed that they couldn"t promote their chosen dictator in a foreign country and promptly lost the plot.




Riot police clash with demonstrators in the streets near the Turkish consulate in Rotterdam, Netherlands (Photo: Reuters)


Europeans, increasingly concerned that Europe might just start looking a bit like Turkey, are no doubt a bit confused as to why it is that political problems from "other" countries have to become their problems. Ah, but therein lies the beauty of a "union". One for all and all for one.


In any event, Rutte now had two choices:


  1. Placate Erdogan and risk looking like a wimp to his electorate. The very thing that he so didn"t want was now happening and at a scale that was almost certainly far grander than any skirmish at a pro-Erdogan rally would have been. The idea of ensuring there was no violence by Muslims on Dutch soil just ahead of elections had now backfired spectacularly and so there wasn"t much chance to reverse course now.

  2. Stand by the decision and understand that by doing so he was putting at risk all of Europe. I say this because Europe is beholden to Turkey who hold the key to the immigrant floodgates. Turkey can (as they"ve threatened) simply open the floodgates and not only would Europe be flooded with far more immigrants than they can cope with but the near certainty of Jihadist "Allahu Akbar" folks pouring into Europe via Turkey would be left wide open. Europe know this. It is why they"ve been negotiating with Turkey on this whole EU membership thing.

And this is where Rutte won the election - in the dying minutes of the game.


Jan and Marijke, concerned that Wilders might take the country a little too far "right", had been searching for a sign of strength, of resolve, and of firm beliefs. They don"t understand the complexity of Turkish negotiations mentioned above. They only care about what they see day to day on the streets. In Rutte now they saw what they were looking for. Rutte, for his part, stood firm.



In stark contrast to Merkel, who is making a habit of doing her best to mimic a deer in headlights, Rutte escalated the conflict firing back at Erdogan, squashing protests with riot police, and having the Minister of Families escorted out of the country.


As he did so we have to ask ourselves the question: how many of those undecided voters who were leaning right came back into the party fold?


Obviously we don"t know. And while the media is spinning this as a European rejection of populism, if we think through what took place it may just be that Erdogan just handed Rutte the Dutch elections - not because Dutchies voted for a rejection of nationalism and populism but actually as a firm vote FOR it.


What we do know, however, is that the European shift towards nationalism isn"t going away despite what the pretty dolly birds on mainstream media are currently yapping on about. This event (the Turkish event) will likely become the defining point of Rutte"s premiership, and unless he continues to follow through with a similar "tough" stance Wilders will simply continue to gather more followers.


The truth is that no matter what Brussels podium donuts or anyone else may want to believe we can"t expect this visible clash of both cultures and religions to don its stripy pyjamas, down its milk and cookies, and go peacefully into the night. It"s not going to happen. There is no middle ground here.



Despite European leaders" previous attempts to legitimise and ignore the onslaught this latest tiff between the Netherlands and Turkey is likely to act as a drawing of lines in the sand. For his part, Erdogan is pulling no punches.





"If Europe continues this way, no European in any part of the world can walk safely on the streets." - Turkish President Erdogan



Those are fighting words and the fact that they came just days before yet another terror attack on European soil - this time in London - will add, not detract from the shifting zeitgeist I"ve been discussing at length in these pages.


What Next?


In exactly a month"s time, our croissant eating friends go to the polls. The Dutch outcome, now fresh in the minds of all, may prove to be nothing at all like what I think is coming to France.


Right now perhaps as a result of the Dutch elections, journalists and market pundits alike have swung in favour of Macron over Le Pen. The futures market for its part doesn"t seem enthralled with either.



Grab your popcorn. This ought to be at least as much fun as Brexit was.


Chris


“History is filled with the sound of silken slippers going downstairs and wooden shoes coming up.” ?Voltaire


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Friday, March 17, 2017

Turkish Foreign Minister: "Religious Wars Will Start Soon In Europe"

Turkey"s arch-nemesis - well, one of many -  Dutch politician Geert Wilders may have just suffered a major disappointment in his recent political career after yesterday"s Netherlands general election, but that did not mean that the diplomatic scandal between Turkey and the Netherlands has been put on hiatus; on the contrary: Turkey"s Foreign Minister Mevlut Cavusoglu warned that Europe is headed for “wars of religion” and claiming Dutch politicians are taking the continent “to a cliff.”


Speaking at a rally in Antalya on Thursday, Cavusoglu assessed the outcome of the Dutch elections which saw a failure for the anti-Muslim, anti-EU Geert Wilders garnering a majority of the votes, after a campaign rallying for the closure of mosques and banning of the Koran.



However, instead of celebrating the defeat of the anti-Islam politician, and his defeated by Prime Minister Mark Rutte’s People"s Party for Freedom and Democracy, Cavusoglu warned that Wilders’ beliefs are shared by others across the Netherlands.


"Many parties have received a similar share of votes. Seventeen percent, 20 percent, there are lots of parties like this, but they are all the same," the Foreign Minister said adding “there is no difference between the mindsets of Geert Wilders and social democrats in the Netherlands. They all have the same mindset...that mindset is taking Europe to the cliff. Soon wars of religion may and will start in Europe,” Cavusoglu said, quoted by Reuters.


The comments come amid a bitter feud between the Netherlands and Turkey. Ankara suspended high-level relations with the European country on Monday, after it banned ministers from addressing Turks at a rally in Rotterdam, where they were expected to advocate for a constitutional referendum in Turkey. Following the ban, Turkish President Recep Tayyip Erdogan accused the Netherlands of acting like "fascists" and “Nazi remnants.”


Erdogan also accused the Netherlands of state terrorism and having a “rotten” character earlier this week, claiming the Dutch were responsible for the 1995 Srebrenica massacre during the Bosnian War. “We know how rotten their character is from their massacre of 8,000 Bosnians there. Nobody should try to give us lessons on morality, especially not those who have blood on their hands,” he said.


"Hey Rutte, you may have won the election as first party, but you have lost a friend like Turkey," Erdogan told flag-waving crowds at a pro-referendum rally in the northwestern province of Sakarya.


He also slammed the European Union for a ruling allowing companies to ban staff from wearing Islamic headscarves under certain conditions. "Shame on the EU," Erdogan said. "Down with your European principles, values and justice ... They started a clash between the cross and the crescent, there is no other explanation."


Erdogan is lobbying for 5.5 million expatriate Turks to vote ‘yes’ in an upcoming referendum which would give him sweeping new powers to issue decrees, declare emergency rule, appoint ministers and state officials, and dissolve parliament.


Critics say the move would be a step backwards for democracy, removing the system of checks and balances. Although a majority Muslim country, Turkey is officially secular and headscarves were banned for decades in the civil service and universities. Erdogan and the Islamist-rooted AK Party he founded fought to overturn those bans, which they see as discriminatory, and to bring religion into public life.

Friday, March 3, 2017

It’s Coming, Watch Out For These 4 Catalysts

By Chris at www.CapitalistExploits.at


Market dislocations occur when financial markets, operating under stressful conditions, experience large widespread asset mispricing.


Welcome to this week’s edition of “World Out Of Whack” where every Wednesday we take time out of our day to laugh, poke fun at and present to you absurdity in global financial markets in all its glorious insanity.


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Selfishly we also know that the biggest (and often the fastest) returns come from asymmetric market moves. But, in order to identify these moves we must first identify where they live.


Occasionally we find opportunities where we can buy (or sell) assets for mere cents on the dollar – because, after all, we are capitalists.


Join our Insider membership and find out what we"re doing with our own money... targeting asymmetric investment opportunities


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In this week"s edition of the WOW: Catalysts


This week"s edition is short and bitter.


Here"s the timeline, folks:


  • Brexit, United Kingdom: 24 June 2016. Vote Yes. Wow, never saw that coming! Oh, wait!

  • USA: 8 November 2016. Vote Chairman Trump. Wow, never saw that coming! Oh, wait!

  • Auxit, Austria: 4 December 2016. Vote Freedom Party (FPÖ). Close, so close.

  • Itexit, Italy: 4 December 2016. Vote ‘NO’, support Lega Nord (LN). You sensing a trend here?

  • Nexit, Netherlands: 15 March 2017. Vote Party for Freedom (PVV)

This vote really sets the tone for Europe.


I can"t think of a time when Dutch elections mattered as much to the rest of Europe as they do today. The Dutch can be described as friendly people in a tiny relatively insignificant country who eat cheese, ride bicycles, and who, for some reason wear socks with sandals, but whose influence on and in broader Europe has been negligible.


And yet, as we sit just 14 sleeps out from Dutch elections the result is being anxiously awaited by traders across the world. Trigger fingers at the ready.


The firebrand Geert Wilders (PVV) - the Dutch version of Trump or Duterte - is set to ascend to the position of chief Dutch podium donut on the 15th of March.



Following closely on the heels of the Dutch are our snail eating friends, who I spoke about last week.


  • Frexit, France: 11 April 2017, Vote National Front (FN)


Here we currently have investors dumping French bonds faster than a girlfriend with herpes and buying the snot out of German bunds.


Moving right along we have...


  • Gerexit, Germany: before 27 August 2017. Vote Alternative for Deutschland (AfD).

Could it happen? Is the Pope Catholic?


And moving north to the land of ABBA, Ikea, and meatballs then we have...


  • Swexit: Sweden, 9 September 2018. A vote for Sweden Democrats (Sverigedemokraterna)? Could it happen?

Well, let"s consider this from the perspective of the Swedes themselves. Increasingly, their daily life includes the following:



A previously quaint and peaceful Swedish neighbourhood on Monday


And where so called "exclusion zones" now total 186 and where everyday citizens are finding that being politically correct is actually deadly.



On the plus side, at least Swedes now know that they"ve lost large parts of their country. They see it with their own eyes if they turn down the "wrong" street.



As explained in 7 Steps to the Easiest Short in Recent History:





“Forty years after the Swedish parliament unanimously decided to change the formerly homogenous Sweden into a multicultural country, violent crime has increased by 300 percent and rapes by 1,472 percent.


In an astounding number of cases, the Swedish courts have demonstrated sympathy for the rapists, and have acquitted suspects who have claimed that the girl wanted to have sex with six, seven or eight men.”



Perfect Storm


Folks, what we"re looking at is a clash of civilisations and a clash of cultures, all combined with the bankruptcy of social welfare systems, the repudiation of the ruling elite, and a repudiation of all that comes with it.


Like it or not, Europe is actually the periphery of a collapsing star. That star is the United States.


For now, the volatility and pain will be felt at the periphery which means that the core will remain stable. That "core" is currently being seen as Germany as we can see in the German bund yield curve. This "safety" currently being sought in bunds is likely fleeting and will quickly transfer to the real "core" of the collapsing star: the US. Brace for it.


To those who see the European glass as half full. I agree wholeheartedly.



And so here we sit: which way does it break?



As with any collapsing star, ultimately the star will collapse but not before the periphery collapses first.


The Question is...


Euro Poll


Cast your vote here and also see what others think


- Chris



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