Arthur Hayes: Suggests withdrawing European assets and turning to Bitcoin and gold, as the Eurozone will face large-scale money printing

ChainCatcher live report, Maelstrom CIO Arthur Hayes delivered a keynote speech at this year's Token 2049 conference in Singapore, warning that France is facing a serious capital flight crisis. Data from the European Central Bank's target balance system shows that since 2021, France has had the largest capital outflow in the Eurozone, with the French public transferring funds to countries like Germany.

The core issue is that France's net investment position is -38% of GDP, but unlike the United States, it does not have a reserve currency status and must rely on financing from surplus countries like Germany and Japan. However, Trump's "America First" policy has prompted a return of funds to Germany and Japan, cutting off the funding supply to France.

Hayes pointed out that the European Central Bank is in a dilemma: if it does not print money to support France, it will lead to a Brexit crisis; if it prints money, it will lose fiscal control over member states. He estimates that once France implements capital controls, the European Central Bank may need to print 5 trillion euros to bail out the banking system. Hayes advises investors to withdraw from European assets and turn to Bitcoin and gold, as the Eurozone will inevitably face large-scale money printing.