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I first heard the phrase “Great Reset” way back in 2014. Christine Lagarde, who was head of the IMF at the time, was suddenly becoming very vocal about global centralization. It was an agenda that was generally only whispered about in the dark corners of institutional white papers and the secretive meetings of banking elites, but now these people were becoming rather loud about it.

Lagarde was doing a Q&A at the World Economic Forum and the notion of the “Reset” was very deliberately brought up; what the project entailed was vague, but the basic root of it was a dramatic shift away from the current economic, social and political models of the world into a globally centralized and integrated system – A “New World Order,” if you will…

It’s important to remember that we had just jumped through the fires of an international credit collapse which started in 2008 and had continued to cause uncertainty in markets for years. The central banks had dumped tens of trillions of dollars worth of stimulus into the system just to keep it on life support. Some of us in the alternative media believed that these actions were not meant to save the economy, only zombify the economy through currency devaluation and inflation. Not long down the road, this zombie creation would turn on us and try to eat us alive, and only the central bankers new exactly when this would occur.

Think of the crash of 2008 as Stage 1 of the Reset agenda; the globalists were getting cocky and were ready to unveil their plans to the public.

Lagarde’s discussion at the WEF was also held around the time that Klaus Schwab was introducing his 4^th Industrial Revolution concept, which is a little more forward with what the globalists really want…

…click on the above link to read the rest of the article…

EU To Propose Exempting “Green” Bonds From Deficit And Debt Limit Calculations

September 10, 2021

EU To Propose Exempting “Green” Bonds From Deficit And Debt Limit Calculations

Yesterday, the ECB announced that in Q4, it would “modestly lower the pace of net asset purchases under the PEPP than in the previous two quarters” (even as Lagarde scrambled to convince markets not to call it tapering) with Reuters sources adding that “policymakers set a monthly target of between 60 billion and 70 billion euros” down from 80 billion currently “with flexibility to buy more or less, depending on market conditions.” Putting this non-taper taper in context, Nomura calculated that “even if net PEPP is scaled down to €60bn/month the ECB would still buy 85% of the remaining gross supply, strongly supporting EUR rates.”

Despite the shrinkage of ECB bond-buying, Lagarde made it clear that the fiscal spice must flow:

*LAGARDE: FISCAL SUPPORT HAS TO BE CONTINUED
*LAGARDE: FISCAL SUPPORT NEEDS TO BE MORE TARGETED

The most notable proposal is to exempt “green” investments from calculations of deficit and debt limits and temporarily forgetting existing rules that say debt must be cut every year, Reuters reported citing documents prepared for the ministers’ talks showed.

“The challenge in coming years will be to consolidate deficits while increasing green investments to achieve the ambitious targets of the EU to cut emissions or any other investments,” a note prepared by host Slovenia said.

In other words, the EU will use the “green” strawman of fighting climate change as a loophole to issue debt over and above the EU’s self-imposed ceilings.

…click on the above link to read the rest of the article…

Gold & Silver Extend Gains On Lagarde’s “Inflation Is Coming” Comments

December 12, 2019

Gold & Silver Extend Gains On Lagarde’s “Inflation Is Coming” Comments

With the dollar sliding, and following yesterday’s dovish market reaction to The Fed, ECB’s Lagarde comments on inflation (increasing its expectations for 2020 and said that Q4 2022 inflation will be at 1.7%) and noting labor costs pressures have strengthened.

Over the medium term, the inflation rate will increase, Lagarde said, adding that “the direction [rising] of inflation is good.”

Additionally, she noted The ECB’s highly accommodative stance will continue for a prolonged period until inflation rises, and said thatincoming economic and survey data point to some stabilization in the slowdown of economic growth in the euro area.

Gold and silver have erased all the post-Payrolls losses…

Lagarde, the ECB and the next crisis

July 9, 2019

Lagarde, the ECB and the next crisis

The appointment of Christine Lagarde as president of the ECB has been greeted with euphoria by financial markets. That reaction in itself should be a warning signal. When risky assets soar in the middle of a huge bubble due to a central bank appointment, the supervising entity should be concerned.Lagarde is a lawyer, not an economist, and a great professional, but the market probably interprets correctly is that the European Central Bank will become even more dovish. Lagarde, for example, is a strong advocate of negative rates.

Lagarde and Vice President De Guindos have warned of the need to carry out measures to avoid a possible financial crisis, proposing different mechanisms to mitigate the shocks created by excess risk. Both are right, but that search for mechanisms to work as shock buffers runs the risk of being sterile when it is the monetary policy that encourages excess. When the central bank solves a financial crisis by absorbing the excess risk that the market once took it does not reduce it, it only disguises it.

Supervisors ignore the effect of risk accumulation because they perceive it as necessary collateral damage to the recovery. Risk accumulates precisely because it is encouraged.

Draghi said that monetary policy is not the correct instrument to deal with financial imbalances and macroprudential tools should be used. However, it is the monetary policy which is causing those imbalances when an extraordinary, conditional and limited measure becomes an eternal and unconditional one.

When monetary policy disguises and encourages risk, macroprudential measures are simply ineffective. There is no macroprudential measure that mitigates the risk created by negative rates and almost three trillion of asset purchases.

…click on the above link to read the rest of the article…

IMF’s Lagarde Laments “Highly Mysterious” Low Inflation, Says “Everybody” Would Like It To Be Higher

April 29, 2019

IMF’s Lagarde Laments “Highly Mysterious” Low Inflation, Says “Everybody” Would Like It To Be Higher

Without skipping a beat, IMF Director Christine Lagarde left President Xi’s Belt and Road initiative conference and traveled to sunny southern California to make an appearance at the Milken Institute Conference, where she sat for an interview with former WSJ editor-in-chief (now editor-at-large) Gerry Baker.

Given that Friday’s surprisingly robust (at least on the surface) GDP print has revived speculation among some economists about ‘divergence’ between the US and the global economy, Baker led with a question about whether Q1 GDP had impacted the view on US growth over at the IMF.

While the surprisingly large number will “certainly lead us to reassess our forecast for growth in the US,” which could in turn boost the global economy, Lagarde cautioned that one strong GDP print doesn’t make a trend, and that the global economy remains mired in what she called a “delicate moment.”

Earlier this month, the IMF again slashed its forecasts for global growth, this time to its weakest level in a decade.

Asked if we’re seeing more divergence now.

“We still think that it’s a delicate moment given the still synchronized slowdown for growth…you have about 70% of the global economy which is slowing – but still growing – and we are not expecting a recession and certainly not in our baseline. Everybody including the highest authorities were certainly surprised by the large number in the United States…that will certainly lead us to reassess our forecast for growth for the United States, and clearly given the size of the US economy it will have an impact overall.”

Looking ahead, the upcoming reading on US productivity will be important.

…click on the above link to read the rest of the article…

Monetary Policy ‘Reset’: From Rhetoric to Actuality

January 5, 2019

Monetary Policy ‘Reset’: From Rhetoric to Actuality

A resurgence in nationalistic tendencies has been predominately associated with the advents of Brexit and Donald Trump’s presidency. But have these outcomes meant that we now neglect to give due consideration to the years that preceded the supposed breakdown of the ‘rules based global order‘?

It was in Davos at the 2013 World Economic Forum – three years before the UK voted to leave the European Union – that IMF head Christine Lagarde warned an audience of bankers and economists of the dangers of renewed protectionism:

If we look at openness, and we see that the situation is improving, you can be absolutely sure that nations will revert to their natural tendency of hiding behind their borders, of moving toward protectionism, of listening to vested interest and will forget about transcending those national priorities. It is not the way to go.

Of paramount importance, according to Lagarde, was the removal of barriers, particularly in terms of global trade. By observing the climate in the present day, trade has become a central pillar of geopolitical disorder in the manner of ‘Trump’s Trade War‘ with China and the potential for supply chains between the UK and the EU to be compromised in the wake of Brexit.

In 2014, Lagarde returned to Davos to speak to delegates about something she called ‘reset‘. Keep in mind at this point that the world was still over two years away from Brexit and Trump’s ascension to power. There had yet to be any discernible rise in what is today characterised throughout the media as ‘populism‘.

Sharing a platform with Bank of England governor Mark Carney and European Central Bank President Mario Draghi, Lagarde explained what this reset would entail in regards to monetary policy.

…click on the above link to read the rest of the article…

The Makings of a Global Debt Crisis Are in Place

December 6, 2018

The Makings of a Global Debt Crisis Are in Place

In 2017, the financial world was filled with talk of synchronized sustainable growth in major economies for the first time since before the 2008 global financial crisis. This was being proclaimed by global financial elites including Christine Lagarde, head of the IMF.

Now that vision is in ashes. Synchronized global growth has turned into a synchronized global slowdown. Growth has already turned negative in two of the world’s largest economies, Japan and Germany, and is slowing rapidly in the world’s biggest economies, China and the U.S.

China may report something like 6.8% GDP growth, but when all the waste in its economy is stripped out the actual growth is probably closer to 4.5%. That’s still growth, but not nearly enough to sustain China’s massive debt overload. Its debt is growing faster than the economy and its debt-to-GDP ratio is even worse than the U.S.

For a sense of perspective, China had about $2 trillion total debt in 2000. Today, it’s about $40 trillion. That’s an unbelievable 2,000% increase in under 20 years.

Growth is also slowing in the U.S. The 2009–2018 recovery has already been the weakest recovery in U.S. history despite a few good quarters here and there. And there’s little reason to expect it to pick up from here.

GDP expanded 3.5% last quarter, which looks good on paper. But the trend is pointing down. Since this April, we’ve seen growth of 4.2% (Q2), and 3.5% (Q3). This trend tends to confirm the view that 2018 growth was a “Trump bump” from the tax cuts that will not be repeated. And Q4 GDP will probably be lower than Q3.

Goldman Sachs, for example, projects fourth-quarter GDP to expand at 2.5%. It further expects growth to drop to 2.2% by the second quarter of 2019, and to 1.6% by the end of the year.

…click on the above link to read the rest of the article…

Sacks Of Cash, Martial Law, And All Smiles: IMF’s “Constructive” Phone Call With Ukraine’s President

December 1, 2018

Sacks Of Cash, Martial Law, And All Smiles: IMF’s “Constructive” Phone Call With Ukraine’s President

Funny how it works… The same week Ukrainian President Petro Poroshenko imposed martial law on much of the country, the International Monetary Fund assured him that key parameters of the 2019 budget were on track for a proposed $3.9 billion new aid programagreed to last month which is designed to help the country maintain financial stability and the trust of investors especially ahead of an uncertain election period next year.

IMF Managing Director Christine Lagarde personally made the assurance in a phone call with Poroshenko on Wednesday — the same daythe Ukrainian president signed the new martial law legislation into effect. According to Ukraine’s popular independent news agency Unian:

It was particularly underlined that the introduction of the martial law does not influence the interaction with the IMF.

*Prior file photo of IMF Managing Director Christine Lagarde and Ukrainian President Petro Poroshenko, via Reuters *

Poroshenko’s press service said in a follow-up of a telephone conversation with Lagarde: “The Head of State informed Madame Lagarde about the adoption and the key parameters of the state budget of Ukraine for the year 2019. Madame Lagarde noted that, according to the IMF’s preliminary estimates, the key indicators of the state budget of Ukraine are in line with the parameters agreed with the Fund.”

Lagarde called the conversation “constructive” according to Reuters. An official statement released by Lagarde after the Wednesday phone call said:

The president informed me about the key parameters of the 2019 budget, which was recently approved by parliament and is currently under review by IMF staff. The preliminary assessment is satisfactory and the process is expected to be completed shortly.

…click on the above link to read the rest of the article…

Argentine President Admits “More Poverty” To Come, Announces Price Controls, Higher Taxes, Smaller Govt

September 3, 2018

Argentine President Admits “More Poverty” To Come, Announces Price Controls, Higher Taxes, Smaller Govt

Things have not worked out so well since The IMF “bailed them out”…

In his address, there was good news, bad news, and ugly news.

“Everyone has to make sacrifices,” Macri implored of his nation’s citizens – who have lost 50% of their wealth year-to-date due to the collapse of the peso, which he also attributes to being “exaggerated by Turkey and Brazil weakness.”

Having blamed “mostly external factors” for the collapse of the economy (not bingeing on too much dollar-denominated debt in order to manufacture a smoke-and-mirrors-based boom), Macri notes that investors “have started doubting” Argentina’s ability to function.

The Good News

Macri has promised to dramatically shrink the size of the government, eliminating several ministries entirely, adding that Argentina must “set a goal not to spend more than we have.”

The Bad News

In an effort to close its budget gap, Macri will raise taxes on its one positive economic attribute – its exporters.

The Ugly News

Amid the hyperinflationary regime shift that is occurring, Macri will resort to price controls of some essential foods. When has that ever ended well.

All of which, as Bloomberg notes, is intended to signal a shift in the government’s strategy as it heads into talks on Tuesday with the International Monetary Fund to speed up the disbursement of cash from a $50 billion credit line.

Macri is now caught between the ‘rock’ of pleasing investors by cutting spending, and the ‘hard place’ of ensuring that the belt-tightening of austerity doesn’t cause social upheaval ahead of next year’s election.

These measures, Macri warned “will lead to more poverty.”

For now, the peso is stable (modestly weaker)…

Do You Really Think Politicians Can Stop Climate Change?

October 27, 2017

Do You Really Think Politicians Can Stop Climate Change?

COMMENT: Mr. Armstrong; It appears that politicians are attributing any change in the climate to human activity. They have simply either gone mad or just insane, seriously distorting everything to gain more power and taxes. Now Christine Lagarde said: “As I’ve said before if we don’t do anything about climate change now, in 50 years’ time we will be toasted, roasted and grilled.” She is not even elected by anyone yet is dictating the trend globally.

REPLY: Yes, the phrase “climate change” has come to mean “blaming humans for changing the climate by using oil and gas and coal.” They act as if the climate should be linear and always the same from one year to the next. They fail to even account for the historical record of ice ages and warming periods long before we started using oil, gas, or coal. There is no doubt that the climate is changing for that is the cyclical nature of all things. The only thing more absurd than blaming humans for “climate change” is assuming politicians can stop it from changing. They cannot find the missing $3 trillion+ from the defense budget no less manage the economy and prevent the business cycle from booms and busts.

Dutch Central Bank Warns Of Market Calm Before The Storm:

October 9, 2017

Dutch Central Bank Warns Of Market Calm Before The Storm:

With one foot out of the door of Germany’s finance ministry, the former head of the German economy, Wolfgang Schäuble, 75, delivered a fire and brimstone warning over the weekend, telling the FT in an interview that there was a danger of “new bubbles” forming due to the trillions of dollars that central banks have pumped into markets. Schäuble also warned of risks to stability in the eurozone, particularly those posed by bank balance sheets burdened by the post-crisis legacy of non-performing loans, something we warned about since 2012, and an issue which remains largely unresolved.

Taking a broad swipe at the current financial regime – which he helped design – Schauble warned that the world was in danger of “encouraging new bubbles to form”.

“Economists all over the world are concerned about the increased risks arising from the accumulation of more and more liquidity and the growth of public and private debt. I myself am concerned about this, too,” he said echoing the concern voiced just one day earlier by IMF head Christine Lagarde, who said the world was enjoying its best growth spurt since the start of the decade, but warned of “threats on the horizon” from “high levels of debt in many countries to rapid credit expansion in China, to excessive risk-taking in financial markets”.

And while Schauble’s dramatic warning was not surprising – prominent economists have a habit of telling the truth once their tenure is over, and once they start selling books warning about all the consequences of policies they helped adopt – one day later a more surprising, and just as urgent warning was delivered by the Dutch central bank, DNB, which on Monday said that ultra-loose monetary policy in the euro zone has run its course, and excessive risks seem to be building up in financial markets making the financial sector vulnerable to a sudden correction.

…click on the above link to read the rest of the article…

“The Resentment Will Explode” – In Dramatic Twist, McKinsey Slams Globalization

July 14, 2016

“The Resentment Will Explode” – In Dramatic Twist, McKinsey Slams Globalization

Moments ago, in a speech in Washington, IMF head Christine Lagarde said that “The greatest challenge we face today is the risk of the world turning its back on global cooperation—the cooperation which has served us all well. We know that globalization – and increased integration – over the past generation has yielded many economic benefits for many people.”

The IMF is not alone: for years, consultancy giant McKinsey towed the party line as well saying in 2010 that “the core drivers of globalization are alive and well” and adding as recently as 2014 that “to be unconnected is to fall behind.”

That appears have changing, and cracks are starting to form behind the cohesive push for globalization, at least among those who benefit the most from globalization.

In a stunning study released today, one which effectively refutes all its prior conclusions on the matter, McKinsey slams the establishment’s status quo thinking and admits that the economic gains of changes in the global economy have not been widely shared lately, especially in the developed world. In the report titled “Poorer Than Their Parents? Flat or Falling Incomes in Advanced Economies” it finds that prospects for income growth have deteriorated significantly since the financial crisis, and that the benefits from globalization are now over:

This overwhelmingly positive income trend has ended. A new McKinsey Global Institute report, Poorer than their parents? Flat or falling incomes in advanced economies, finds that between 2005 and 2014, real incomes in those same advanced economies were flat or fell for 65 to 70 percent of households, or more than 540 million people (exhibit). And while government transfers and lower tax rates mitigated some of the impact, up to a quarter of all households still saw disposable income stall or fall in that decade.

…click on the above link to read the rest of the article…

Another Stern Stock Market Crash Warning Was Just Issued by the IMF

May 29, 2016

Another Stern Stock Market Crash Warning Was Just Issued by the IMF

Another stern stock market crash warning was just issued from the International Monetary Fund (IMF), and it’s fueling fear across global markets.

The IMF, an organization of 189 countries, is worried about the ripple effects should the United Kingdom vote to leave the European Union (EU).

A British vote to exit the EU, or “Brexit,” could have significant and negative effects on the UK economy, the IMF said last Friday. The quickly approaching Brexit voting date is June 23.

Christine Lagarde, the IMF’s managing director, said nothing positive could come from a Brexit. She cautioned a vote in favor of a Brexit could lead to a technical recession. Bank of England Governor Mark Carney shares a similar sentiment.

Dow Jones Industrial Average That has many investors worried that tensions overseas could lead to a 2016 stock market crash…

A Brexit vote would cause a “protracted period of heightened uncertainty” and “severe regional and global damage,” the IMF warned. A spike in interest rates, extreme financial market volatility, and damage to London’s revered status as a global financial hub are all likely outcomes.

Other concerns include falling stock prices, a plunge in real estate values, surging borrowing costs for businesses and households, and a steep drop-off in foreign investment.

The UK’s economy could contract by 1% to 9% following a Brexit, according to the IMF’s research. If the UK chooses to stay in the 28-country bloc next month, the IMF expects the economy to grow about 2% this year and around 2.25% in 2017.

And the issue isn’t isolated to the United Kingdom. All global economies will be affected, which is what has sparked the stock market crash fears.

Atlanta U.S. Federal Reserve President Dennis Lockhart said last month that a vote for the UK to leave the EU might have destabilizing consequences for the world economy.

…click on the above link to read the rest of the article…

What Will The Global Economy Look Like After The ‘Great Reset’?

May 14, 2016

What Will The Global Economy Look Like After The ‘Great Reset’?

A very common phrase used over the past couple years by the International Monetary Fund’s Christine Lagarde as well as other globalist mouthpieces is the “global reset.” Very rarely do these elites ever actually mention any details as to what this “reset” means. But if you take a look at some of my past analysis on the economic endgame, you will find that they do, on occasion, let information slip which gives us a general picture of where they prefer the world be within the next few years or even the next decade.

A few goals are certain and openly admitted. The globalists ultimately want to diminish or erase the U.S. dollar as the world reserve currency. They most definitely are seeking to establish the International Monetary Fund’s Special Drawing Rights basket system as a replacement for the dollar system; this plan was even outlined in the Rothschild run magazine The Economist in 1988. They want to consolidate economic governance, moving away from a franchise system of national central banks into a single global monetary authority, most likely under the IMF or the Bank for International Settlements. And, they consistently argue for the centralization of political power in the name of removing legislative and sovereign barriers to safer financial regulation.

These are not “theories” of fiscal change, these are facts behind the globalist methodology. When the IMF mentions the “great global reset,” the above changes are a part of what they are referring to.

That said, much of my examinations focus on these macro-elements; but what about the deeper mechanics of the whole scheme? What kind of economic system would we wake up to on a daily basis IF the globalists get exactly what they want? This is an area in which the elites rarely ever comment, and I can only offer hypothetical scenarios.

…click on the above link to read the rest of the article…

Lost Faith In Central Banks And The Economic End Game

April 6, 2016

Lost Faith In Central Banks And The Economic End Game

We live in strange economic times, stranger perhaps than at any other point in history. Since 2007-2008, the globally intertwined and dependent fiscal system has suffered considerable declines in every conceivable area. Manufacturing around the world is in a slump, from Japan to China to Europe, with the minimal manufacturing accomplished in the U.S. also fading. Consumption is falling, most notably in petroleum and raw materials. Employment is truly dismal, with the U.S. posting over 94 million people as “non-participants” in the national work force.

High paying jobs are disappearing, and the only jobs replacing them are in the low wage service sector. This problem is becoming so pervasive that certain more socialist states including California and New York are attempting to offset the loss of sustainable income jobs by forcing retail and service companies into paying an inflated minimum wage. That is to say, states hope to stop the bloodletting in wages by magically turning low paying jobs into high paying jobs.

As anyone with any economic sense knows, you cannot have a faltering consumer sector in which people are buying less and force service based companies to pay their employees far more per hour than the job is worth. Those companies will simply lay off more employees, cut hours or shut down entire branches of their operations in order to maintain their profit margins. Either that, or those companies will go out of business.

One sector, though, has continued to reap certain benefits (for now), and that is equities. There is a good reason for this.

The stock market is a kind of Pavlovian control mechanism, a mental trigger in the minds of the masses that dominates their perceptions of the world’s financial health.

…click on the above link to read the rest of the article…

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