John Rubino is back for another week… Dems are already working on another stimulus package after the one with the $1400 checks. Stocks are rallying but is this how you deal with rising inflation and spiking interest rates? Big $2 trillion infrastructure plan on the way. Warren Buffett: bond investors world-wide ‘face a bleak future’. Higher rates for the next decade. Return of the bond vigilantes have been comatose for so long and last week they’re back with a bang. People are picking on the ARK fund now that it’s seeing massive redemptions. Cathy Wood is the pied piper of this speculative bubble, being fully invest in the most bubblicious of assets. Possible that they’ll be forced to sell major holdings, causing them to fall further, and so on… Citi says bitcoin is at a “tipping point” and will become the global trade currency of choice. Bill Gates is now the world’s biggest owner of farmland…does the Great Reset include the 1% monopolizing the food supply?
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Firstly, no, Brian Leni of Junior Stock Review is not concerned about Friday’s gold/silver price rout. He is focused on the companies. The stocks are not getting hit as hard as physical metal. The investment argument for gold and silver has never been better, especially in light of the rampant money printing. Inflation isn’t like a light switch, you just turn it on or off. It’s a process that once started has to run its course. It’s a chain reaction and we live in a complex world. No one knows how it will resolve itself. Are we headed to a monetary apocalypse?
Brian has 17 companies in his portfolio of which 14 are precious metal concerns. He’s shifted his focus away from base metals. He’s bullish on copper and nickel. $27 nickel was the high, will we hit it again? In his opinion, FPX Nickel is the best nickel play out there. Copper recently broke $4 and is headed much higher. A copper gold company is an ideal investment in today’s market. Copper-gold porphyries have the best prospects of any mine out there. A lot of great investment info here.
For more than 20 years, Master Trader Nick Santiago has been beating the markets. He’s made some incredible calls along the way and now he’s looking to spread the word. There’s no reason that the average trader should be coming up short. So now we’ve started a daily show to bring you up to date on the latest market developments. Nick will be sharing trades and concepts and discussing current trends.
I have been investing for the past 4 decades often with great success. During that time I’ve studied thousands of companies’ financial statements, in search of value that others had missed. I know we’re in the age of the Tech Giant and value investing is out of vogue, that’s often the case in frothy markets, but in the long run the market always returns to value. This is why I’ve taken a position in Trillion Energy CSE:TCF OTC:TCFF (sponsor). Listen to my interview and hear CEO Art Halleran explain that there is about US $300 million in natural gas production assets (drill rigs, platforms, pipelines, processing plant, etc.) that is completely absent from Trillion’s balance sheet.
Art is a petroleum geologist with 38 years of experience who’s built a number of successful energy companies. He’s never been more excited than he is about Trillion. And in this cynical investor’s opinion, he’s a straight-shooter who tells it like it is. If a mid-tier natural gas producer wished to acquire the SASB asset, Art said they would pay at least $100 million, or slightly less than $1 per share (as of Friday share price was 11.44 cents and the market cap was about $14 million). But the company isn’t for sale, for the simple reason that in Art’s opinion its value is far greater. That’s because the SASB natural gas field that it’s currently developing is worth several times that number. Art has the experience and the ability to bring that field into production, as well as numerous other promising targets in the area. Best of all, there’s very little capex required, since the platforms and necessary infrastructure are already in place.
Most of Trillion’s assets are in the Black Sea, in Turkish waters. However, they’ve been dealing with the Turkish Government for over a decade and relations have been extremely cordial. They are partners with the Turkish State Oil Company (TPAO). Trillion’s expertise in drilling underwater wells is well demonstrated and they provide skills that aren’t easily obtainable. Right now, the majority of Turkey’s natural gas comes from Russia. All of the SASB production will be purchased by TPAO to reduce the country’s reliance on imports.
Trillion already has cash flow coming from existing oil wells in the area. It knows how to effectively operate in this part of the world. Perhaps most important, Trillion’s gas sells from $6-8 per million btu’s, unlike North America where the same gas is selling for $2.77 per million btu’s. Equally as important, global natural gas consumption is steadily rising, which means future returns over the years could increase greatly. For all of the reasons above, I’ve taken a position in Trillion and I’m very excited about its future.
Soon after John Soforic opened his vineyard for business many years ago, the Wealthy Gardener noticed a puzzling fact. Everyone wanted money, but only a few people managed to accumulate it. The reason, he realized, is that most people focus on short term gains instead of achieving lasting wealth. As he grew old and aware of his dwindling time on this Earth, the Wealthy Gardener began to share his hard-earned wisdom with the financially troubled in his community, patiently mentoring those who asked for his practical advice on the ways of prosperity. The parable of the Wealthy Gardener is far more than an admonishment to earn more or spend less; it is about timeless principles. As his lessons reveal, financial freedom is a means to power and control over our lives. Without money, we are subject to the demands and whims of others. With money, we are sheltered from the storm, and we can extend that shelter to our loved ones. Poised to become an intimate financial classic, The Wealthy Gardener will inspire readers to find their own noble purpose and relieve their money worries once and for all. No matter your income level, skillset, or unique economic disadvantages, the lessons in this book will show you the path forward. All you need is the will to work, the desire to succeed, and the motivation to learn. He continues the lessons in his upcoming book The Wealth Essentials System. It will be out in August.
Dan Ferris uses a classic value-investing philosophy to help you make some of the biggest, safest returns you’ll ever find in the stock market. It’s a dangerous time to be a novice investor at this particular time. Just look at GameStop. The stock had $3 and got to nearly $500. The triggered short squeeze was legendary. Never mistake a bull market for genius. Just because you got lucky doesn’t mean you’ll keep repeating the process. No one really knows what the top is. It’s a process. Bottoms are an event. The signs are all. SPAC’s are another sign of topping. Most of these deals are garbage, Dan urges caution. There’s nothing new under the sun. It’s all about valuation and cash flow and eventually prices go too far and comes back to earth. Innovation disruptors can be profitable, but they can be very dangerous. Avoid irrational exuberance at all costs.
When it comes to humans, and new technology, predicting the future has never been easier, so says noted futurist Rebecca Costa. As the world comes out of its Covid induced coma, most individual behavior will stay the same, but societally it’s going to be a different ball game. What will happen to with the debt? Hyperinflation? Is allowing the economy to hyper-inflate a solution? As we know from history, the government’s best friend is inflation, until it isn’t. They are out of options. As Rebecca says, there’s a long tail economic impact.
Recently, the nickel and base metals markets have been on fire. Worldwide stainless-steel demand (of which nickel is an integral component) increases at a steady 5% annually, but the big story is booming EV (electric vehicle) demand. Recently Elon Musk made clear his intent to utilize nickel as a substitute for cobalt in EV batteries, provided that there is a reliable supply of carbon-neutral, energy efficient metal. That’s where FPX Nickel (sponsor) comes in. The Baptiste deposit’s nickel metallurgy means there’s no smelting necessary, leading to lower costs and greater environmental friendliness. Nickel is trading around $8.84 per pound, just over its historic $8 average. Copper recently broke $4 per pound and base metals have rapidly appreciated. With nickel demand ready to take off, looming supply deficits and a lack of new world-class projects, there’s a compelling case for vastly higher prices. The bill for decades of sector underinvestment has now come due.
CEO Martin Turenne explains why the British Columbia Baptiste deposit is undervalued relative to peers and FPX’s PEA supports that point. Its Van target is close by and it has a bigger surface footprint and larger, higher metal grades than Baptiste. FPX is trading at just 5% of the project’s estimated $1.7 billion value The market has yet to factor Van into FPX’s valuation.
Owning over 20% of the company, management’s interests are closely aligned with those of shareholders. As a CPA, Martin has kept a very tight rein on FPX’s finances; dilution has been kept to a minimum.
With approaching future supply issues, the apparent beginning of a new commodity super-cycle and at least one or more world-class projects, FPX is uniquely situated to cash in on Elon Musk’s demand for carbon-neutral nickel.
Trillion Energy (CSE:TCF – OTC:TCFF – FSX:3P2N) is deeply undervalued and poised for a significant rerating explains CEO Art Halleran in this interview. The current cashflow of about US$2M from its oil production easily justifies the company’s US$10M market cap. But Trillion is currently getting no value for its SASB project’s US$608M of fully built-out infrastructure which is about to be producing natural gas in 2021. The company owns 49% of the SASB project in the Black Sea just off the cost of Turkey and has an offtake partner ready to purchase its gas.
Art said that if he were to sell the project’s production platforms and processing facility for scrap metal it would be worth more than Trillion’s current US$10M market cap. Not only is Trillion’s liquidation value higher than its current market cap but the company also calculates the intrinsic value of its gas reserves at US$1.25/share while shares have only been trading between 6 and 8 cents US per share recently. And to further demonstrate how undervalued Trillion is, Art pointed out that a Columbian natural gas producer NG Energy has less than half of the reserves as does Trillion yet it has a current market cap of US$125M.
In addition to the clear fundamental value of the company, Trillion has tremendous blue sky potential on both its natural gas and oil license areas. The company’s SASB gas field is located just 100km south of the largest gas discovery in 30 years in Europe and is the only nearology play in the region. Trillion also owns a 100% interest in 42,833 hectares oil exploration block covering the northern extension of the prolific Iraq/Zagros Basin as well as in the Vranino 1-11 block in Bulgaria, a prospective unconventional natural gas property.
Art has already built several successful energy companies. Once such company is Canacol Energy which he co-founded and now has a US$500M market cap as the largest natural gas producer in Columbia. He has a Ph.D in geology and over four decades of experience in the gas and oil business. Art became involved with Trillion four years ago because of the quality of the SASB asset and has never sold even one share. He explained, “I’m going to hang onto my shares until I get the shares up to the value it should be.”
Brad Williams returns… Nothing goes up forever. Stimulus mania seems to have no end in sight. It’s time for a solution, PonziCoin, it promises infinite returns for very little risk or investment. Who can say no? Time to sell your home? You’re going to need a replacement home. If you like your home, keep your home. You need to have a plan. It’s not so important what you do as long as it falls within your plan. Even though many believe that fundamentals don’t matter, the reality is that they do. Never lose sight of that fact. We all need to wake up and demand more out of our government. Make your plan and have contingencies.
Michael Pento returns to the program… What happens when you combine a completely out of control congress with an overly compliant central bank and a slow growing economy that has been ravaged by an extreme response to a pandemic? You wind up exactly where we are now. As Michael explains, today’s economic foundation is built upon sand or perhaps even a sink-hole. Eventually it’s got to crumble and that’s why you need to protect yourself now. Precious metals are one way and positioning your portfolio for the inevitable is another and better yet why not combine the two.
Dr. Steve Turley returns… You can find him on Twitter, YouTube, and at TurleyTalks.com. Why did they do impeachment 2.0? Are they deliberately fanning the flames of rebellion? Is this just a case of creating a phony external threat in hopes of unifying the country? If so, it’s been a Big fail! This form of manipulated unity is over. It’s pure deflection to use resentment from the left towards a portion of the population to somehow bring the people together. Trump turned resentment politics in on itself and made the ruling class the target of citizen anger. And this has led them to failure. How do they explain that Trump’s support is now stronger than ever.
Next gun control is back on the left’s agenda, which is of course doomed to failure. More people than ever have been lining up to purchase firearms. Sales are through the roof. Is it just Biden’s effort to drum up his base. Dems are going through their own civil war now. The neo-liberals are circling the wagons, pushing crazy far-left ideas that will hopefully go nowhere.
Looks like #KillerCuomo is finally getting his just dessert. The truth is out and now the calls are being heard for resignation or impeachment by member of both parties. If Cuomo goes down, how much longer for Newsome, Murphy the Murderer, Ava Braun Whittmer and Wacky Wolf in Pennsylvania. Let’s see if Cali turns Red. Dr. Steve seems to think so. We’re a little more skeptical about this turn of events.
USA Today, hardly a “right wing conspiracy rag”, said this back in April of 2020:
We rate the claim that hospitals get paid more if patients are listed as COVID-19 and on ventilators as TRUE.
Hospitals and doctors do get paid more for Medicare patients diagnosed with COVID-19 or if it’s considered presumed they have COVID-19 absent a laboratory-confirmed test, and three times more if the patients are placed on a ventilator to cover the cost of care and loss of business resulting from a shift in focus to treat COVID-19 cases.
May I remind you that on the data from Wuhan we knew that 90+% of the time being put on a ventilator was futile for Covid-19 patients, and again, we knew that in March.
Doubt me? Here’s the study data which I reported out at the time — March of 2020.
Beginning on September 17, 2019 – months before there was any report of a COVID-19 case anywhere in the world – the Federal Reserve turned on its money spigot to the trading houses on Wall Street. By October 23, 2019 the Fed announced that it was upping these loans to $690 billion a week – again, months before any report of COVID-19 anywhere in the world. Earlier in October 2019, the Fed had also announced that it would be buying back $60 billion a month in Treasury bills.
Within a span of six months, the Fed had pumped out a cumulative $9 trillion in loans to Wall Street’s trading houses, according to its own spread sheets, with no peep as to which Wall Street firms were getting the bulk of that money. It’s more than a year later and the American people still have no idea what triggered that so-called “repo loan crisis” or which Wall Street firms were in trouble or remain in trouble.
The president of the Berkley Federation of Teachers is coming under fire for sending his kid to private school while opposing the reopening of public schools.
The story: Matt Meyer, the president of the teacher’s union in California, was caught on video taking his two-year-old daughter to a private preschool. The video was posted online by a group called Guerilla Momz, who accused Meyer of hypocrisy.
“Meet Matt Meyer. White man with dreads and president of the local teachers’ union. He’s been saying it is unsafe for *your kid* to be back at school, all the while dropping his kid off at private school,” the group wrote in a tweet that linked to the YouTube video of Meyers and his child.
The group made sure to blur the daughter’s face in the video. The video also features a short clip of Meyers saying that “children do not keep their masks on.”
New York Gov. Andrew Cuomo has been accused by two women of sexual harassment. Both women were former staff of the Democratic governor.
Former Cuomo executive assistant Charlotte Bennett said that Cuomo harassed her last spring. The 25-year-old claims Cuomo made myriad inappropriate comments, including talking to her about his loneliness and his openness to dating younger women and asking her prying questions about her personal romantic attachments.
“I understood that the governor wanted to sleep with me, and felt horribly uncomfortable and scared,” Bennett told The New York Times in a detailed interview. “And was wondering how I was going to get out of it and assumed it was the end of my job.” Not long thereafter, Bennett was transferred to another department.
Recently I was “fact checked” by PolitiFact for a demo I did showing that masks don’t stop the spread of aerosols (longer one here, shorter one here). The reporter asked for my comments and then said what his narrative required, without regard for any scientific data. The list of CDC and Medscape information in the video description escaped his attention. He also completely ignored the fact that Anthony Fauci has flip-flopped on masks more than a fresh-caught fish on deck.
Scientists have been very busy. When the Wuhan Flu came to America, we were told to constantly bathe our hands in sanitizer. Now we know that very few cases are spread by contact, so constant hand-washing isn’t necessary. That leaves droplets and aerosols. Unfortunately, many studies use arbitrary size criteria to distinguish between them, giving us confusing answers. A better distinction is that droplets are too heavy to stay suspended in the air, so they follow a spitball’s trajectory to the floor. Aerosols can stay suspended for hours, much like cigarette smoke.
A gentleman who does work for us sent me a text recently saying the price of his supplies has increased 20 percent, so he wants to increase his monthly fee 10 percent. It was a nice way to ask, and I said sure, especially given that he’s willing to take a haircut on his labor to make the increase more palatable.
Chairman Jerome Powell would be happy to hear this story, as the Federal Reserve prints mightily to push the CPI (Consumer Price Index) to 2 percent and beyond. Though perhaps Chairman Powell would prefer my tradesman to pass a full 20 percent price increase to me.
In a town with a double-digit unemployment rate, price increases are hard to pass on. Although I noticed while shopping for Thanksgiving that a small bag of pine nuts was a full $2 more than the unused, but unfortunately stale, bag I had purchased a year ago.
It’s a new month and it’s finally March. Could our long precious metal winter finally be drawing to a close? We’ll find out as the month progresses but we kick things off this week with an action-packed schedule and a Friday date with your latest BLSBS.
Unfortunately, the new month has begun where the last month left off. After a nice rally last evening on Globex and in Asia, bonds rolled over as soon as the London trade began and it was straight back downhill from there. I’d been hoping for a better start to the month than this and there’s still plenty of day left, but this is a little disappointing.
Last Thursday President Biden continued what has sadly become a Washington tradition: bombing Syria. The President ordered a military strike near the Iraqi-Syrian border that killed at least 22 people. The Administration claims it struck an “Iranian-backed” militia in retaliation for recent rocket attacks on US installations in Iraq.
As with Presidents Obama and Trump before him, however, Biden’s justification for the US strike and its targets is not credible. And his claim that the US attack would result in a “de-escalation” in the region is laughable. You cannot bomb your way toward de-escalation.
Biden thus joins a shameful club of US leaders whose interventions in the Middle East, and Syria specifically, have achieved nothing in the US interest but have contributed to the deaths of many thousands of civilians.
– The best performing precious metal for the week was palladium, but still down 2.51%. Palladium was buoyed by the partially suspended operations at Russia’s Nornickel mine due to flooding. AngloGold Ashanti boosted its dividend more than fivefold to 48 cents, up from 9 cents in 2019 after profit climbed to $953 million in 2020. The move follows similar dividend increases from rivals Barrick Gold and Newmont.
– Gold Fields said regulators approved its plan to build a 40-megawatt solar plant at its South Deep mine in South Africa, reports Bloomberg. The new plant will supply 20% of the mine’s electricity needs and help limit operational losses from power outages.
Junk bonds still in la-la-land as investors chase yield – risks be damned.
The bond market settled down on Friday. And that was a good thing for the crybabies on Wall Street that had started to hyperventilate on Thursday, when the Treasury 10-year yield, after rising for months, and accelerating over the past two weeks, had spiked to 1.52%, having tripled since August.
By Thursday, all kinds of complex leveraged trades had been coming apart, and forced selling had set in. By historical standards, and given the inflation pressures now underway, those yields even on Thursday were still astonishingly low. But Wall Street had a cow, for sure.
Finance is often cloaked in arcane terminology and math, but the one dynamic that governs the future is actually very simple. Here it is:
All debt is borrowed against future supplies of affordable hydrocarbons (oil, coal and natural gas).
Since global economic activity is ultimately dependent on a continued abundance of affordable energy, it follows that all money borrowed against future income is actually being borrowed against future supplies of affordable energy.
Many people believe that alternative “green” energy will soon replace most or all hydrocarbon energy sources, but this belief is not realistic. All the “renewable” energy sources are about 3% of all energy consumed, with hydropower providing another few percent.
After the crisis in Texas, sustainable energy is all over the news.
Over the years, my husband and I have relied on solar power for our lighting and for powering farm equipment on areas of our property where standard power isn’t available.
While I in no way claim to be any kind of professional expert on renewable energy, I have studied it a fair amount over the years. I earned my degree in Environmental Studies with a concentration in Sustainable Forestry in 2005. Renewable energy is more affordable and accessible to the average person than it was back then.
And despite my major, I’ve always tried to look at any aspect of environmentalism from a realistic standpoint. Those championing it can sometimes go too far in their claims, and the topic often becomes mired in emotion rather than facts.
U.S. stocks have started the week in strong fashion, as bond yields eased from last week’s highs early on Monday.
Two positive developments over the weekend have also buoyed investors: The U.S. House passed the Biden administration’s $1.9 trillion pandemic-relief package on Saturday before the Food and Drug Administration granted emergency authorization to Johnson & Johnson’s JNJ, 0.96% COVID-19 vaccine — the first single-shot dose available to Americans.
The price of bitcoin BTCUSD, 7.34% rose more than 5% to $47,691 on Monday, as it regained ground following the cryptocurrency’s worst week of the year last week, having climbed to a record high of $58,332 the previous weekend.
President Joe Biden is reportedly attempting to sniff out federal bureaucrats installed by and loyal to his predecessor to purge the federal government of Trump supporters.
On his way out, former President Donald Trump appointed dozens of his supporters to government boards and committees, and installed many others in career positions within the federal government. The Biden White House is now working to undo Trump’s work, fearing that those Trump supporters may interfere with Biden’s agenda, according to NBC News.
The practice of outgoing presidents installing a number of their supporters into more permanent posts in the federal government, called “burrowing,” is not new or uncommon. Experts approached by NBC News said that Trump’s burrowed officials are different in number and temperament than previous administrations, calling those Trump supporters “dangerous.”
As recounted by Lewis Carroll in his timeless parody “Alice’s Adventures in Wonderland,” Alice discovers her surroundings to be “curiouser and curiouser.” In many ways, the fictitious world conjured by Carroll more than a century and a half ago aptly describes the state of affairs in our nation’s capital after only the first weeks of the Biden Administration.
The speed with which the new administration and its Democrat cohorts in both houses of the Congress are undermining substantive historic and common-sense norms of behavior and law, is deeply disturbing.
For nearly two months now, since the violence on Capitol Hill in early January, Washington, D.C., has been turned into an armed compound. Thousands of armed military personnel patrol its streets, and miles of razor wire and metal fencing encircle the Capitol building itself and several blocks in every direction. This militarization of the Capitol, clearly with the approval of the president himself, is not only unprecedented but pointless from a substantive security standpoint, insofar as no threat as might come close to warrant such massive response has been cited and no evidence in support thereof has been produced.
Four Democrat governors enacted similar nursing home policies as Gov. Andrew Cuomo (D-NY) did in 2020, amid the coronavirus pandemic.
The governors of Michigan, California, New Jersey, and Pennsylvania approved similar policies as fears grew that new patients would overwhelm hospitals.
Gov. Gretchen Whitmer (D-MI) issued an order that a long-term care facility “must not prohibit admission or readmission of a resident based on COVID-19 [coronavirus] testing requirements or results.” The policy was renewed three times before being rescinded in July 2020.
Gov. Gavin Newsom’s (D-CA) administration ordered on April 10, 2020, that “patients hospitalized, or receiving treatment at an alternate care site, with COVID-19 can be discharged to a [skilled nursing facility] when clinically indicated.”
When Vicky was 30 years old, her two dearest friends were riding in an automobile when another car, operated by a negligent driver, ran a red light and crashed into her friends’ car. One of Vicky’s friends was instantly killed. The other survived, but only with permanent damage to his legs. For the rest of his life this friend walked with a severe limp.
Vicky was of course traumatized by this tragedy. Her trauma was intensified by the gruesome photographs she happened to come to possess of the crash scene, including one of her dead friend’s horribly mangled and bloodied body. Seeing her other friend’s slow, painful recovery and permanent limp only made Vicky’s trauma worse.
Big Tech consists of Gestapo organizations that suppress the First Amendment; yet “democratic Americans” continue to support these fascist organizations. If Americans cared about democracy, they would boycott Big Tech and drive the Gestapo organizations into bankruptcy.
Instead, Americans have permitted Gestapo institutions to be institutionalized in American social, political, and economic life. Today in “free America” people are fired from their jobs not because of inadequate performance but for having social media accounts with companies that do not censor. For example, Colleen Oefelein, a literary agent for the Jennifer De Chiara Literary Agency in New York City was fired by her boss, Jennifer De Chiara, for merely having a Gab social media account. De Chiara did not even have an excuse that Oefelein uttered a non-woke-approved word. Oefelein experienced ongoing technical problems logging in to her Twitter account. She posted “I can no longer log in to Twitter on my computer. I’ll be on Facebook and maybe gab? And Instagram.” An American Nazi anonymously complained to De Chiara that her employee “frequents alt-right social media.” DeChiara thanked the anonymous Nazi and said: “I have taken swift action, and as of this morning, Colleen Oefelein is no longer an agent.”
For climate change and global warming, the elitists are demanding we all take to eating bugs. But does anyone actually believe the rulers will be eating bugs? The mainstream media has begun their propaganda push to see if humans will actually eat bugs on their command.
The social engineering experiment in behavior modification has begun:
Entomophagy advocates say a cultural shift is already in the works, particularly among the young and adventurous urbanites who will be setting food trends for generations to come. “It’s not going to happen overnight, and it’s never going to 100% replace meat, but those of us who are health-conscious and environmentally aware have already started making that transition,” says biologist Jenna Jadin, who wrote Cicada-licious, a cookbook featuring cicada dumplings and other treats, just in time for the 2004 hatching of Washington D.C.’s 17-year cicada cycle (the next hatching is this summer. Get your skillets ready). –Yahoo
Why Is The Elitist Establishment So Obsessed With Meat?
Former French president Nicolas Sarkozy has been found guilty of corruption on charges of trying to bribe a magistrate. The judge sentenced Sarkozy to three years in prison, with two years suspended.
Judge Christine Mee, who presided over the case, stated that the 66-year-old former political leader had “used his status as former French president” in a “particularly serious” act of wrongdoing, as she handed down the sentence.
Sarkozy was put on trial over accusations of trying to bribe Gilbert Azibert, a French magistrate, by offering him a well-paid job in Monaco in return for information about a criminal investigation into his political party at the time, the Union for a Popular Movement.
The investigation was looking into claims that Sarkozy and his party had received illegal payments from businesswoman Liliane Bettencourt during his successful 2007 presidential campaign.
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