I just returned from a lunch with the French Ambassador for International Investment, and counterfei

Longacre · February 27, 2009 4:10AM

This morning I had a meeting at my office with the French Ambassador for International Investment. This is the job that Longacre needs-- this individual basically goes around the US and presses the flesh, and tries to get more investment and transactions to run through France.

After the meeting, I went to lunch with him and two of my colleagues. We discussed international tax (pretty boring

), and then the subject turned to the Chinese economy and the interaction with the economies of France and the US. Then the Ambassador made a comment about the counterfeits that are coming out of China. Longacre almost did a spit-take with his expensive Bordeaux when he mentioned this. Unfortunately, he did not speak about fake PCGS slabs, but rather made his comments in the context of expensive French handbags.

He claimed that the French government and the Chinese governments essentially have much bigger fish to fry, and counterfeit articles are not at the top of the agenda. He mentioned the unemployment rates in both countries and the overall economic dependencies are more of a concern than trying to tamp out a maker of counterfeit Louis Vuitton bags.

I found it interesting, so I wanted to pass it along. Unfortunately, I did not have a chance to complain about fake PCGS slabs, because the conversation turned back to tax.

northcoin · February 27, 2009 4:25AM

I hope you at least got into a lively discussion regarding the US Mint's copying of the thick French Pieforts (a/k/a Piedforts) as the model for their manufacturing of the Ultra High Relief Double Eagles.

The Original Double Thicks

LanLord · February 27, 2009 4:27AM

You should a mentioned what a cluster#$%# the mint is making out of the UHR release

DNADave · February 27, 2009 4:28AM

Did you recommend the Freedom Fries?

adamlaneus · February 27, 2009 4:30AM

Any talk about trade barriers or the like? Going up? Going down?

zeebob · February 27, 2009 4:37AM

<< <i>...this individual basically goes around the US and presses the flesh, and tries to get more investment and transactions to run through France.... >>

Was he trying to get the US to import more stinky food or more hairy women?

Longacre · February 27, 2009 4:42AM

<< <i>Any talk about trade barriers or the like? Going up? Going down? >>

We didn't mention trade barriers specifically, but he did speak about the need for better cooperation between the EU and the US, and how interdependent all of the economies are. We did ask whether France (and Europe) was mad at the US for possibly causing the worldwide financial crisis because of Wall Street, and he claimed that France does not blame the US (I guess that is what he was supposed to say).

TwoSides2aCoin · February 27, 2009 4:48AM

You could have gone to IHOP for French Toast
and coffee with "splenda" sweetener.
You've missed another opportunity to
promote American Products

ElKevvo · February 27, 2009 5:10AM

Hmmmm Longacre almost did a spit-take with his expensive Bordeaux when he mentioned this

I hope you don't do a lot of important work in the afternoons after lunch! Back when I got out of school I went to work for a major investment firm as a retail broker and Friday lunches were always a couple hours long and involved a number of adult libations. Needless to say Friday afternoons back at the office were not too productive! Good times....

Anyway I think this is very true...He mentioned the unemployment rates in both countries and the overall economic dependencies are more of a concern than trying to tamp out a maker of counterfeit Louis Vuitton bags. Counterfeiting makes up a good portion of the underground GDP of some countries and keeps a lot of people who would otherwise not be working and dependent on the government. Because they are busy working they are not busy causing trouble and making noise about their situation.

Sort of a takeoff on the old dilemma about stealing bread to feed your family...counterfeiting luxury goods that no one really needs to feed your family.

K