Lagarde says negative rates have helped Europe

willrocks

willrocks

Well-Known Member
Silver Stacker
Up is down, black is white.

The ECB’s deposit rate is negative 0.4%.

“On the one hand, banks may decide to pass the negative deposit rate on to depositors, lowering the interest rates the latter get on their savings,” she wrote. “On the other hand, the same depositors are also consumers, workers, and borrowers. As such they benefit from stronger economic momentum, lower unemployment and lower borrowing costs. All things considered, in the absence of the unconventional monetary policy adopted by the ECB – including the introduction of negative interest rates – euro area citizens would be, overall, worse off.”
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https://www.marketwatch.com/story/l...elped-europe-more-than-theyve-hurt-2019-08-29
 
Talking of Lagarde, this has always puzzled me, and makes about as much sense as everything she says.

 
JulieW said:
Talking of Lagarde, this has always puzzled me, and makes about as much sense as everything she says.

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I like your avatar photo of Yin Yang, that's cool! I am a fan of the Tao Te Ching writings.

Lagarde was trying apply certain numerology facets to discuss events. She mentioned several events and dates that utilize the number 7.
She mentioned Bretton Woods which was signed in 1944 (70 years ago back in 2014 when this speech happened). 7 + 0 equals 7
2014 is 2 + 0 + 1+ 4 equals 7
2014, as she says, drop the 20 and you are left with 14, which is 7 x 2
she mentioned something being 25 year anniversary, which is 2 + 5 equals 7
There were some other things she mentioned but all tie into this number stuff. She never said what was going to happen so if it was a secret Illuminati signal we won't ever know.
 
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Yes it seemed significant but obscure. Basically more IMF tin drum banging.
 
Lagarde gives me the heebie jeebies... Something about her is not right and I'm not just talking about her bleached white hair and teeth with her burnt brown skin. If a rat ever mutated into a human i would imagine it would look like her.
 
The problem with focussing on increasing consumption is that it is not as important as it is made out to be in creating wealth. Whilst consumption is the end goal of all production, it is the steps along the way to the consumer that create wealth.

Bradley Thomas said:
(Consumer spending) is but a small tip of the iceberg relative to all of the money invested in the materials, factories, labor and equipment in the many stages of the production process.

As Skousen further explained, “Business spending on capital goods, new technology, entrepreneurship, and productivity are more significant than consumer spending in sustaining the economy and a higher standard of living.”

Indeed, the truth about the economy is just the opposite to what the business reporters tell us: Consumer spending is the effect, not the cause, of a productive healthy economy.

This faulty and misleading emphasis on consumer spending has been the source of destructive public policy for generations. The emphasis on “getting consumers spending again” overlooks the true foundation for economic growth: investment spending on production, as fueled by real savings.

This is especially true in times of recession. Calls to boost consumer spending to right the economic ship are misguided and harmful.

The true factor that drags the economy into recession (and keeps it there) is the sharp drop in investment spending.
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https://erasethestate.com/2019/04/28/the-myth-of-consumer-spending/

Screen Shot 2019-09-04 at 8.39.15 pm.png

Source: https://www.rba.gov.au/chart-pack/business-sector.html
 
Don't forget, Largarde is part of the elite. Ex Franch Minister for Finance during GFC, then head of the IMF and now head of the ECB and all that with a criminal conviction for negligence in a French court (in which most of the judges in this court are sitting French pollies) in recent years, where whilst she was found guilty, no fine, no gaol time and no conviction recorded. Largarde is a protected species.

https://www.bbc.com/news/world-europe-38369822

Christine Lagarde: IMF chief convicted over payout
  • 20 December 2016

A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but did not hand down any punishment.

As French finance minister in 2008, she approved an award of €404m ($429m; £340m) to businessman Bernard Tapie for the disputed sale of a firm.

Ms Lagarde, who always denied wrongdoing, was not present in court, having left Paris for Washington DC.

The IMF board said it retained "full confidence" in her leadership.

She said she would not appeal against the ruling: "There's a point in time when one has to just stop, turn the page and move on and continue to work with those who have put their trust in me."

The French government also confirmed its confidence in Ms Lagarde, who was reappointed to a five-year term at the IMF in February.

On Friday, she told the trial she had always acted in good faith and the suspicion she had lived under for the past five years had been an "ordeal".

Cases at the Court of Justice of the Republic (CJR) may not be retried but can be appealed against on grounds of procedural errors.

Ms Lagarde's lawyer said his team would consider appealing, Reuters reported.

'Complicated and strange'
Ms Lagarde, 60, was tried on charges of "negligence by a person in position of public authority".

Accused of allowing the misuse of public funds, rather than actual corruption, she could potentially have been sentenced to a year in prison and a fine of €15,000, but escaped a sentence and emerges from the trial without a criminal record.

Explaining the verdict, which took many by surprise, Judge Martine Ract Madoux said: "The context of the global financial crisis in which Madame Lagarde found herself in should be taken into account."

She also cited Ms Lagarde's good reputation and international standing as reasons.

The CJR is composed mostly of politicians rather than judges, and handles allegations of crimes committed by cabinet ministers in office.

CJR trials are rare but in a similar judgment in 1999, it found another French politician, Edmond Herve, guilty of negligence over a contaminated blood case but did not punish him.

The earlier decision rested on a legal article (in French) which allows courts to deliver a guilty verdict but withhold actual punishment.

A lawyer for Ms Lagarde, Christopher Baker, told the Associated Press: "The result of this last five years is nothing, which leaves us in kind of a complicated and strange situation."

Public outcry
Ms Lagarde's case originates in the early 1990s, when Mr Tapie was a majority shareholder in sports goods company Adidas.

After launching a political career and becoming a cabinet minister in Francois Mitterrand's Socialist government in 1992, Mr Tapie had to sell the company.
In 1993, he sued Credit Lyonnais, a state-owned bank that handled the sale, alleging that the bank had defrauded him by deliberately undervaluing the firm.

By 2007, the long-running case was referred to binding arbitration by Ms Lagarde, who at that time was finance minister under conservative President Nicolas Sarkozy.

A three-member panel awarded the compensation a year later, causing a public outcry.

Last year, after eight more years of legal wrangling, a French court ruled that Mr Tapie had not been entitled to compensation and should repay the €404m.

In its verdict, the CJR said Ms Lagarde should have asked her aides and others for more information about the "shocking arbitration award" that included damages of €45m.

Lagarde-Tapie: A French saga
1993: Credit Lyonnais bank handles sale of Adidas to enable Mr Tapie to pursue ministerial career under then Socialist President Francois Mitterrand

1993-2007: Mr Tapie claims Credit Lyonnais undervalued Adidas and that he was cheated; lengthy court battle ensues

1994: Bernard Tapie's highly indebted group collapses and is wound up by Credit Lyonnais

2007: Mr Tapie supports conservative Nicolas Sarkozy in presidential election. Finance Minister Christine Lagarde intervenes in Tapie case to order binding arbitration

2008: Special judicial panel rules Mr Tapie should receive damages of €404m; Ms Lagarde decides not to challenge ruling

2011: Several months after Ms Lagarde is appointed head of the IMF, public prosecutor recommends investigation into her decision to order arbitration

2015: Appeals court orders Mr Tapie to pay back €404m with interest

2016: Ms Lagarde found guilty of negligence but spared prison sentence and criminal record
 
leo25 said:
Lagarde gives me the heebie jeebies... Something about her is not right and I'm not just talking about her bleached white hair and teeth with her burnt brown skin. If a rat ever mutated into a human i would imagine it would look like her.
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I disagree, I personally have the hots for her. It's an age thing!
 
Oddjob said:
Don't forget, Largarde is part of the elite. Ex Franch Minister for Finance during GFC, then head of the IMF and now head of the ECB and all that with a criminal conviction for negligence in a French court (in which most of the judges in this court are sitting French pollies) in recent years, where whilst she was found guilty, no fine, no gaol time and no conviction recorded. Largarde is a protected species.
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Too big to jail. :(
 
What is the IMF living on? (I know, I know... it's like a leech).

But seriously? :D

Don't they have in mind going bankrupt? :rolleyes:
Or... they're like the Vatican or the British royal family, they just "can't" for some reason :p
 
JulieW said:
Talking of Lagarde, this has always puzzled me, and makes about as much sense as everything she says.

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Firstly, Largarde like many other elites is a Satanist -

International Monetary Fund (IMF) Director Openly Shares Her Passion For Occult Philosophy & Mysticism


LAGARDE.jpg



https://www.collective-evolution.co...-her-passion-for-occult-philosophy-mysticism/


Baroness Phillipine De Rothschild -

d6684cddde1b18ef21ddbee618901191.jpg




Back to Largarde's speech on number 7 -


Christine Madeleine Odette Lagarde née Lallouette, born 1 January 1956 in Paris

1+1+19+56=77
1+1+1+9+5+6=23

Christine Lagarde" in the English Reduction system equals 81/153/918/462

Christine " in the English Reduction system equals 51
nine eleven, conspiracy, grand lodge

Christine in Jewish Gematria Equals: 344/630/105
630+036=666
Goldman Sachs in Jewish Gematria Equals: 344
Nine Eleven in Simple Gematria Equals: 105
Zionism in Simple Gematria Equals: 105

Lagarde" in the English Reduction system equals 30/48/288/118

"Christine Madeleine Odette Lagarde" in the English Reduction system equals 146/290/1740/845

Christine Madeleine Odette Lallouette" in the English Reduction system equals 149/365/2190/1248

Lallouette" in the English Reduction system equals 33
Lallouette in J/e/s Gematria Equals: 521/738/123
Conspiracy in Simple Gematria Equals: 123

Assumed office 5 July 2011

7/5/2011

7+5+20+11=43=Freemasons, Rosy Cross
7+5+2+0+1+1=16=1+6=7
Birthdate
1+1+19+56=77

Lagarde's speech on the number 7


Occult Message in Speech by Christine Lagarde of IMF

Published on May 24, 2014
"7" references:
1:22 - "Now I'm going to test your numerology skills by asking you to think about the magic seven"
1:34 - "Most of you will know that seven is quite a number
2:24 - "2014, you drop the zero, fourteen, two times, seven"
4:08 - "It will mark the 70th anniversary, 70th anniversary, drop the zero, seven, of the Bretton Woods Conference that actually gave birth to the IMF" (7 + 0 = 7)
4:22 - "And it will be the 25th anniversary of the fall of the berlin wall, 25th.." (2 + 5 = 7)
4:38 - "It will also mark the 7th anniversary of the financial market jietters"
5:08 - "After those seven miserable years, weak and fragile"
5:14 - "We have seven strong years"
5:43 - "Now I don't know if the G7 will have anything to do with it" (G is also the 7th letter of the alphabet)
"2014" references:
1:18 - "The global economy and what we should expect for 2014"
2:19 - "So if we think about 2014"
2:24 - "2014, you drop the zero, fourteen, two times, seven"
3:54 - "So 2014 will be a milestone and hopefully a magic year in may respects"
5:05 - "So my hope and my wish for 2014"
 
sgbuyer said:
Negative rates only works because the US hasn't lowered rates. If the US starts to lower rates, it will reverse the benefits you get from a weaker currency. They will have to go more than negative when the US starts lowering rates. I can see why pirocco is all into silver now. Silver is "more money" than the euro.
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And so it begins.... https://uk.reuters.com/article/us-n...-draghi-it-opposes-tiered-rates-idUKKCN1VW2GN

"The letter included a translation into English of a motion passed by Dutch parliament that says offering banks “tiered”, or preferentially high, interest rates on deposits held at the ECB would be unfair to pension funds that are currently forced to invest at negative rates.

The Dutch civil servants’ pension fund ABP, with 451 billion euros of assets under management, will be forced to cut pensions next year on current forecasts, an explosive political issue in the Netherlands.

Lawmaker Pieter Omtzigt, who authored the motion, said that tiering would effectively advantage southern Europeans, traditional bank savers, at the expense of Dutch retirees.

“The negative interest rates of the ECB disproportionately hit the Dutch pension funds,” he told Reuters."
 
jultorsk said:
And so it begins.... https://uk.reuters.com/article/us-n...-draghi-it-opposes-tiered-rates-idUKKCN1VW2GN

"The letter included a translation into English of a motion passed by Dutch parliament that says offering banks “tiered”, or preferentially high, interest rates on deposits held at the ECB would be unfair to pension funds that are currently forced to invest at negative rates.

The Dutch civil servants’ pension fund ABP, with 451 billion euros of assets under management, will be forced to cut pensions next year on current forecasts, an explosive political issue in the Netherlands.

Lawmaker Pieter Omtzigt, who authored the motion, said that tiering would effectively advantage southern Europeans, traditional bank savers, at the expense of Dutch retirees.

“The negative interest rates of the ECB disproportionately hit the Dutch pension funds,” he told Reuters."
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Geert Wilders and his Party for Freedom will have a field day with this.
 
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