Overview

• Hayes argues that France’s worsening finances and TARGET2 shifts point to accelerating deposit flight from French banks.
• He contends the ECB will ultimately expand its balance sheet by trillions of euros, presenting Bitcoin as a self‑custodial hedge outside Eurozone controls.
• In a sharp attack on ECB President Christine Lagarde, he blames policy missteps for systemic fragility and urges savers to sell euros and buy Bitcoin.
• He offers directional estimates, including roughly €650 billion, or about a quarter of French bank deposits, potentially moving within days if confidence breaks.
• Coverage notes the thesis is speculative despite wide circulation, with Bitcoin recently reported around $118,000 to $120,500 as context rather than confirmation.