By Rudy Casbi
“Pharaoh commits all these crimes without ever imagining that his actions will create the very conditions for the prophecy he fears most.”
— Elie Wague, French author
France today stands at a crossroads, gripped by political and economic turmoil that amplifies the power of strategic silence. Since President Emmanuel Macron’s snap election in June 2024, the country’s political landscape has fractured, with a hung parliament split among far-right, far-left, and centrist blocs. The National Rally – Rassemblement National- emerged as the largest party, but no group holds a majority, leading to legislative gridlock. Prime Minister François Bayrou, appointed in December 2024, faces a no-confidence vote on September 8, 2025, which could make him the fifth prime minister in just 20 months. Economically, France’s €3.3 trillion debt (114% of GDP) and a 5.8% budget deficit in 2024—nearly double the EU’s 3% target—have sparked market jitters and EU pressure for austerity. With 2025 GDP growth slashed to 0.6-0.7% and rising debt interest payments threatening to outstrip education spending, the nation’s leaders must navigate a polarized public and volatile markets. In this chaotic context, where every word risks fueling division or panic, silence emerges as a rare and sovereign asset.
In a world drowning in noise, where words are spent like devalued currency, silence stands as the last bastion of sovereignty. As French philosopher Michel de Montaigne wrote, “Silence is the truest eloquence.” In France’s turbulent political arena and its strained financial markets, silence isn’t empty—it’s a rare asset, a safe haven that holds
value amid relentless fluctuations. Like a patient investor resisting market frenzy, a leader who chooses silence bets on what matters most: the long game, discipline, and resilience.
“The one who knows how to speak also knows when to stay silent; and that silence carries more weight than any speech.”
— Confucius
Political silence mirrors patient capital in economics: a disciplined choice that resists volatility and the lure of quick wins. Jean-Hervé Lorenzi, founder of the Cercle des Économistes, embodies this mindset. His work on aging populations, capital scarcity, and economic transformation underscores that stability isn’t built on chaos but on vision. As France grapples with a ballooning deficit and trade tensions with the U.S., Lorenzi’s call for long-term thinking resonates. Much like savings yielding steady 3-4% returns annually, a leader’s silence—especially amid France’s parliamentary stalemate and public discontent—builds invisible but decisive power.
“When times are tough, the tough survive.”
— Elie Wague, author and essayist
Today’s world mistakes a flood of words for strength, just as markets confuse liquidity with value. In France, political rhetoric often becomes a one-man show, losing its purpose:
forging connection. Hannah Arendt argued speech should build community, yet empty discourse mimics a financial bubble—pumped up but quick to collapse. The 2008 crisis, which erased $19 trillion in global market value, showed this: chaos creates opportunities for those who, with patience and silence, buy undervalued assets. In France’s current crisis, where budget disputes and austerity measures spark protests, silence can be a leader’s tool to avoid escalating tensions and focus on enduring solutions.
Nietzsche, German philosopher, wrote, “He who has a *why* can endure any *how*.” Silence is that *why*—an anchor to weather France’s media storms and short-term pressures. In finance, it’s a contrarian strategy: staying calm, ignoring the herd, holding the course. Lorenzi’s analyses highlight this resilience: France’s economic future depends not on abundant cash but on disciplined capital. Warren Buffett’s wisdom applies here: “The stock market transfers money from the impatient to the patient.” Silence, like a balanced portfolio, absorbs shocks—vital when France’s debt interest payments are set to hit €66 billion by 2026.
“Silence is never neutral: it’s always a strategy.”
— Elie Wague, author and essayist
This sovereign silence mirrors the difference between speculation and investment. Constant chatter speculates on fleeting visibility; silence invests in the long term, letting
value emerge slowly. As Economist and leaders companies, Lorenzi’s reflections on France’s aging demographics and interest rate challenges reinforce this: true power lies in patient trade-offs, not hype. Silence, like a pension fund or sovereign wealth fund, lacks the thrill of markets swinging ±20% in weeks but builds lasting foundations—crucial as France faces EU demands for fiscal restraint.
Political silence thus aligns with the philosophy of great investors and economists: tht demands discipline, patience, and a deep grasp of time. Markets may reward boldness briefly, but they crown consistency in the end. In France’s saturated media and financial landscape, silence is the ultimate edge—an asymmetry of information for those resisting the pull of the moment. As the nation braces for another potential government shake-up and economic uncertainty, this strategy becomes not just prudent but essential.
Ultimately, political silence, like Lorenzi’s work, reveals a timeless truth: power isn’t measured by visible frenzy but by the ability to endure, build, and stand firm. Noise belongs to those who consume; silence belongs to those who own. For France, navigating its fractured politics and strained economy, this is the most American refrain of all: play the long game, and win.