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‘Put Them in the Fire’: French Far-Left Prez Candidate Mélenchon Suggests Cancelling Public Debt

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Jean-Luc Mélenchon’s latest brainchild—literally torching a fifth of France’s public debt by “putting it in the fire” at the Banque de France—sounds less like monetary policy and more like a pyromaniac’s version of quantitative easing. The far-left presidential hopeful is betting that the central bank’s holdings can simply be vaporized without consequence, a move that would instantly crater France’s sovereign credit rating and send borrowing costs through the roof. Markets don’t take kindly to sovereigns that treat balance-sheet liabilities like kindling, and the resulting spike in yields would ripple across the eurozone faster than any tweet from Brussels.

For the 2A community, the lesson is straightforward: when governments decide they can rewrite economic rules by fiat, the first casualty is usually the individual’s ability to keep and bear the means of self-defense. France already sports some of Europe’s most restrictive firearms laws; a sovereign-debt crisis would give Paris the perfect pretext to tighten them further under the banner of “public safety” while the state scrambles for revenue and control. History shows that nations flirting with currency illusions and debt default rarely expand civil liberties—they hoard power, and that power is invariably aimed at the citizen’s gun safe before it reaches the welfare office.

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