Over 1,500 “global leaders” from 90 countries met in North China’s Tianjin municipality for the World Economic Forum’s Summer Davos. Chinese Premier Li Qiang opened the conference by discussing China’s economic success amid modernization. China’s growth is expected to accelerate during the second half of the year. The International Monetary Fund (IMF) foresees China alone contributing to one-growth of global GDP in 2023.
Klaus Schwab began by praising the CCP for achieving complete control over the population through COVID lockdowns and social credit scores. China implemented one of the strictest lockdown policies in the world. People were barricaded in their homes without warning or time to prepare. The Zero COVID policy caused businesses to shutter and interrupted the global supply chain. China killed family pets that were suspected of contracting the virus. They flew drones around cities reminding the people to stay inside. Although scrubbed from the internet, many may remember seeing videos of Chinese citizens being carted off in windowless vans to quarantine detention camps.
China implemented QR codes and revoked all freedom of movement. The CCP prevented bank runs by altering QR codes and preventing depositors from even entering banks. People needed QR codes to buy food, board a train, or access any public area. They then heightened their social credit score monitoring by placing a mass surveillance system throughout the country that uses biodata to build a personal profile on nearly every resident. They are still fine-tuning this technology, but eventually, every resident will be a mere number in the data system.
China is leading the world in government surveillance. What better place to discuss the coming digitalization of the financial world? BlackRock partner Jeremy Allaire was in attendance. His company operated the USDC digital stablecoin. Allaire spoke on the importance of “public-private” Central Bank Digital Currencies (CBDC). “You could have a potentially […] darker world where the government decides that units of central bank money can be used to purchase some things, but not other things that it deems less desirable like say ammunition, or drugs, or pornography, or something of the sort,“ noted Cornell University professor Eswar Prasad at the conference. “Now we are at the cusp of physical currency essentially disappearing,” he continued.
The Great Reset requires us to surrender all control to one centralized power. They want to control every aspect of our lives, including how we spend what they deem to be money. They are ushering in a “dark world” where one centralized government will rule us all. Luckily, this plan will fail, but not without a long path of destruction.
BlackRock has a leaked tape of a recruiter discussing RUSSIA blowing up Ukrainian wheat silos, causing wheat prices to skyrocket due to shortages. The employee said that Ukraine is great business for BlackRock. This reconstruction fund will require the two entities to restructure Ukraine’s national debt — they now own Ukraine. BlackRock claimed at the start of the war that they ceased investing in Russia. It dropped the “R” from its BRIC ETF and created a BIC ETF for Brazil, India, and China. However, both BRIC ETF and BIC ETF were weighted around 84% toward China, meaning BlackRock changed the name.
These are not charitable nonprofit organizations as the media is portraying them. How much do you think they will require in profits to rebuild Ukraine? The World Bank estimated that Ukraine would need $411 billion to rebuild after the war, but that figure goes up by the day. Every Western nation has its hand in the cookie jar and wants a piece of the plunder, sending off countless billions to ensure they’re part of the “reconstruction.” BlackRock and JPMorgan have been in discussions with Ukraine since last year. BlackRock CEO Larry Fink met with Zelensky in September 2022 to discuss how to profit off of the war, but BlackRock has been “helping” Ukraine since at least 2010.
Zelenskyy and Fink had “agreed to focus in the near term on coordinating the efforts of all potential investors and participants in the reconstruction of our country, channelling investment into the most relevant and impactful sectors of the Ukrainian economy,” CNBC reported in December 2022. This is why the war must go on and Zelensky cannot accept a peace offer. Zelensky has sold out the people of Ukraine and already lost his entire country. There is too much BIG money at hand for the war to stop. Our war cycle indicates tensions will pick up in 2024 – hold on tight. Expect false flags of Russia targeting wheat silos and soaring food prices. Everything is aligned with the Great Reset; this is the branch that is aiming to financially alter the world while others are working on destroying society from within. Ukraine must be destroyed to BUILD BACK BETTER the global financial system.
Klaus Schwab is a control freak in how he runs the World Economic Forum. Make a single mistake and you are in trouble. Schwab seeks perfection and he is taking those ideas and seeking to indoctrinate the entire world. He has his young global leaders infiltrating governments around the world as we saw in New Zealand and Trudeau who has been a one-man invasion to utterly destroy Canada once and for all and seeks to terminate its energy production.
But behind all these efforts and slogans that you will own nothing and be happy which has sent Blackrock off into buying private homes with the objective to own everything and fulfill Schwab’s agenda ensuring the average person will own nothing, Schwab’s agenda is far more sinister than most realize. He is perhaps the worst Marxist in history for he is strategically assaulting our way of life knowing that pushing the WOKE equality agenda has a specific goal of dividing society into groups to fight among ourselves while he and his authoritarian lords are scheming against everything that makes worth living and to terminate our independence and even our human rights.
Schwab’s plan is now being fully adopted by the United Nations. They have embraced the system developed by the World Economic Forum (WEF), which is outlined in three new policy briefs from the UN titled, “A Global Digital Compact, Reforms to the International Financial Architecture, and The Future of Outer Space Governance.”
The sinister goal is to advance the United Nations as the new world government. UN Secretary-General Antonio Guterres’s “vision for the future” is ultimate control and the daring scheme to monitor everyone just as Schwab does inside his WEF. This is Officially titled “Our Common Agenda,” where Guterres’ “vision” is to be given the green light in September 2024 during an event dubbed, “The Summit for the Future.” The UN describes this goal to control the entire world as “an open, free, secure and human-centered digital future.”
From the very beginning, the United Nations has seen itself as eventually becoming the one-world government power. They rejected the idea of freedom and viewed that they needed to control society for “unrestricted individualism is equally erroneous” so we are to be treated worse than a student in high school who must ask permission to go the bathroom.
The United Nations/WEF wants now to not just create a Digital ID for every person on the planet, but eliminating all paper currency means that every person on the planet must also have a bank account. Schwab and the United Nations now want all Digital IDs linked with the bank or mobile money accounts. They argue that this will improve the delivery of social protection coverage and serve to better reach eligible beneficiaries. At the same time, it will track every individual on the planet. Do we donate to their opposition and have our accounts frozen like Trudeau did to anyone who donated to the Truckers?
They claim that Digital technologies will eliminate crime. How do you pay a prostitute or buy illegal drugs? But how do you pay the 16-year-old girl who just babysat your kids when you and your wife went to a show? So the homeless who are mentally ill will probably be imprisoned if they do not have a bank account – for their own safety of course. In the town I grew up in, we had what you called a bag lady. She pushed her shopping cart around and slept in doorways. When people found out she had a son who was a doctor in the next town, they were outraged. When she died, there was over $200,000 in cash in that shopping cart. Still, she preferred the homeless life.
Both Schwab and now UN Secretary-General Antonio Guterres both speak in lock-step about basically regulating the global digital future and they see themselves as those on top who do the regulating of the scum people beneath them. We are no longer human beings, but we are seen as a plague of rodents, and the herd needs to be thinned out.
Of course, Schwab and his WEF along with the United Nations are all UNELECTED organizations seeking to rule the world using phrases such as “international cooperation” and Schwab’s favorite “stakeholders” who will come to surrender all our rights to them all so they can advance principles, objectives, and actions that they see as their globalist agenda to rule the world.
This digital future as envisaged by Schwab and the United Nations is going to be quite the opposite of open, free, or human-centric, however. You cannot have “unrestricted individualism is equally erroneous” and it must be one policy fits all. Is this not what Kiev is trying to impose on the Dondas outlawing their language and freedom of religion? This authoritarian UN “vision” for a future global financial system, is supposed to be harmonized the entire world with Schwab’s 2030 Agenda for Sustainable Development. The problem is that communism collapsed because all advancement of society comes from the ground up – not from centralized authoritarian control.
This became self-evident in the 1959 famous kitchen debate between Nixon and Khrushchev. The entire advancement of everything came from human innovation and curiosity. Those are qualities that are not possible by the government. Nevertheless, all the lessons that Marxism failed are overlooked because these people seek absolute control over our lives. The world is to be ruled by something they call “the apex body” they intend to establish. Both Rome revolted in 509BC and overthrew such a body as did Athens in 508BC.
After Athens revolted and established Democracy in 508BC overthrowing what the UN and Schwab want to recreate – the Thirty Tyrants. Athens eventually collapsed in 404BC – two 51.6-year ECM cycles later. Nothing lasts forever. The Thirty Tyrants were the dream of Sparta. Athens was conquered by the ancient Communist State – Sparta, which never issued coins keeping with their rejection of private property just as Schwab is proposing and Blackrock is carrying out – you will own nothing and be happy.
Sparta rejected individualism just as the UN and Schwab’s WEF and they never issued coinage using these spit iron rods. This is the same agenda that Schwab and his WEF, the United Nations, and all Schwab’s young global leaders are pushing for – the elimination of all paper money and moving to digital where they can control every aspect of our entire lives.
The key actors here would be the UN chief, as well as the Group of 20 (Tyrants), the Economic and Social Council, and “heads of international financial institutions” which will establish complete and ultimate control over everything. This is the bottom line “vision” of the United Nations and their “Global Digital Compact.”
What they are conspiring behind our backs and mainstream media will NOT explain, is their sinister and evil objective to have people, devices, and entities, all tied up in a connected network that could apparently be centrally administered by them and subordinated to this unelected group of self-anointed bureaucrats.
Where is Joe McCarthy when we really need him? Schwab and the United States are actively seeking to subordinate the United States and are actually planning this future scheme and do not give a second thought to any negative impact, for they care nothing about individual rights, only their desire to control civil society on a global scale.
These ideas that always support their authoritarian world rest on the fallacy that a one-world government will end the war. That is nonsense. Just look at Rome and you will see many civil wars and revolutions within a one-world government. Here is the form President of France stating openly that the entire idea of creating the European Union was to create a one-European government to end future wars.
As I have explained, Schwab is strategic. He is forming key alliances always to further his personal view of a new world order under the theories of Karl Marx. Schwab’s WEF has just partnered with a leading biometrics company to advance its own agenda to digitize humanity. Swedish biometrics company Fingerprint Cards has taken a big step into the WEF’s New Champions Community, an assembly of mid-sized enterprises.
Schwab wants to track absolutely every person on the planet and this is behind his promotion of biometric forms of digital ID and claims the technology would serve as a new great steward of humanity to eliminate inequality. We are to allow someone so sinister to be able to hack our minds to create “social inclusion?” Schwab’s Dr. Yuval Noah Harari, who when the history books are written on this endeavor, will perhaps go down alongside Hitler’s Dr. Josef Mengele (1911-1979) where Hitler sought to also create the perfect race.
This Dr. Yuval Noah Harari admits that the tyrants of history lacked the technology to hack humans but it now exists. Charles Burgeat, Senior Vice President of Strategy at Fingerprint Cards, actually said:
“As a proud member of the WEF New Champions Community program, we want to be recognized as a purpose-driven company that contributes positively to the changes needed to operate in the new digitalized world. By joining this Community, we look forward to brainstorming and exchanging ideas with peers, and bring our expertise of the biometrics industry.”
Fingerprint Cards have been losing money and it hopes by adopting the WEF agenda to hack individuals, it will become profitable. The idea is you cannot use a phone or access any bank account without your fingerprint.
Schwab does not believe in Adam Smith’s Invisible Hand. He does not understand why Marxism collapsed because it rejected not just religion, but also humanity. The individual was to be eradicated and children were taught that the biological parents were not real – the state was their true parent.
Individualism is evil. We are to be zombies that are nothing more than biological robots. Even the movie ‘The Matrix’ created a fictional world in which people still made choices. Schwab does not believe that we can be trusted to make our own decisions. To those who have been conditioned to just hate Donald Trump, look at this next clip from the London Financial Times. This explains that it was in 2016 when Trump was elected that they all came to the conclusion that we could no longer be trusted to vote. Democracy suddenly became Populism and it had to be eradicated. You now see this agenda of Schwab’s WEF and the United Nations and what they are really seeking to eliminate – your independence.
Five years ago today, Greta’s handlers announced that the world would end on this precise date. All of humanity would be wiped out entirely. Yet, here we are. Climate change has become the ultimate tool for governments to funnel money. Biden announced on Monday that the US will spend nearly $600 million on climate change initiatives. No one voted for this money to be allocated toward changing the weather, and hundreds of areas desperately need attention and funding, not to mention the massive debt crisis. Not so coincidentally, this utterly unnecessary funding package will allocate most of the budget to blue states. This comes a few months after Biden sent ONE BILLION to the United Nation’s Green Climate Fund.
“The funding will support innovative coastal resilience and adaptation solutions, such as building natural infrastructure, planning and preparing for community-led relocation, and protecting public access to coastal natural resources, that protect communities and ecosystems from sea level rise, tidal flooding, hurricanes, storm surge, among other severe climate impacts,” the Biden administration commented. No amount of money in the world will prevent hurricanes, storms, or naturally occurring weather events. I have posted about how the likes of Obama and others who cry about climate change have beachfront properties since they know it is a lie. So where is this money after tragedy strikes? It takes states months to rebuild after a hurricane, landslide, or other natural disaster because the money is funneled through countless organizations where everyone takes a slice of the pie.
This is a significant amount of money; Americans should be outraged. The largest climate package in American history occurred under Biden in August 2022, with a price tag of $430 billion. It helped absolutely no one. There are no checks and balances. Biden is spending taxpayers’ money on a fake initiative with no end in sight.
Most importantly, Biden is set to meet with his donors this week who support and profit from climate change initiatives. The POTUS is blatantly using federal funds to secure donors. How is it legal for a sitting president to campaign with taxpayer funds?
I know some people send emails alleging I am some sort of Putin supporter. Most of my sources come from inside Ukraine. There is NO government on this earth that EVER has 100% approval of its people. There are ALWAYS two sides just as we have in the polarization of the United States. Many have been forced to flee Ukraine. Zelensky has been forcing young boys to fight on the front line and they are inexperienced and dying by the thousands. Zelensky is wiping out a generation rather than simply honor the Minsk Agreement for the Donbas are Russians who they will NEVER accept anyhow. This is simply a land grab and he is destroying his country for the Neocons and will fly off to his estate in Miami to live like a king forever after.
I believe Zelensky is pure evil. He promised peace and is killing off an entire generation for his greatest European Investment of all time in rebuilding Ukraine with Blackrock – another evil private empire. His constant propaganda that Putin is evil will backfire. The Russian Presidential elections are scheduled to be held in Russia in March 2024. This will be the first round on Sunday, March 17th. If no candidate receives more than half the vote, then a second round will take place exactly three weeks later on April 7th, 2024. The winner of the election is scheduled to be inaugurated on May 7th, 2024. When we look at the computer, it has a Directional Change in 2024 and a Panic Cycle in 2025.
Absolutely NOTHING that comes out as news from Ukraine, NATO, or any mainstream media is EVER going to be the truth. NATO is really a terrorist organization. They exist only for war – not peace. Ask people who live in the former Yugoslavia how they were bombing civilians and the media covered that up as well. They have built this up all about how Putin is evil and Zelensky refused to allow even the Pope to mediate for peace saying you cannot negotiate with Putin. In truth, it is Zelensky who is the Judas and has sold out his own people for a handful of silver.
My fear is that Putin will step down and then we will see the hardliners take the helm. I do not see Putin there post-2024. The hardliners feel Putin has been too “soft” and had he simply invaded Ukraine instead of defending just the Donbas, then this war would have been over in 6 weeks using the same tactics the USA used on Iraq – shock and awe.
This does NOT look good for the future and these damn Neocons never consider what if they are wrong! They BS themselves into thinking Russia is weak and they can destroy it once and for all and divide it up into their EuroAsia and then turn on China. If the hardliners come in, they will do whatever is necessary to defend Russia against our insane Neocons like Lindsey Graham, Victoria Nuland, John Bolton, etc, etc. The United States will lose this war just as they did in Vietnam. People like Graham care nothing about the dead civilians who always outnumber the soldiers. He relishes the idea of washing his hands in Russian blood.
It was Ukraine that waged war on the Donbas calling them terrorists because they sought independence from Kiev which in itself sought independence from Russia. That was the pot calling the kettle black as they say.
It was John McCain preaching war and revolution at Maidan. What if Putin came to the USA and delivered a speech on January 6th calling for the overthrow of Biden? I seriously doubt that the American press would have looked at that very kindly. But our Neocons could care less about anything. All they want is endless wars.
Zelensky has done precisely the opposite of what he promised. The people wanted peace – not the destruction of their country. Zelensky is filling his pockets and as I warned from the very start, this would be the man put in place by the Neocons to begin World War III. Our lives mean nothing to the Neocons. They are absolutely evil people who cheer over the deaths of others. Communism fell. People like Lindsey Graham and John McCain never could stop their hating of Russians and Chinese. They should NEVER be allowed anywhere close to the government. Russia will defend itself and Putin has been the moderate. What comes after the next Russian election will not be moderate. Their Neocons are saying – See, I told you so. America is Evil! Thank you Lindsey Graham – there are people judging all Americans because of you.
QUESTION: Regarding WWII Who Bombed Cities First How does the bombing of the historical center of Rotterdam/Netherlands in May 1940 fits the picture? It seems Germany started bombing civilian targets. Kind regards, Marco
ANSWER: The bombing of Rotterdam was different. There the Germans invaded and troops were fighting in the city. The stories that were put out of 100,000 civilians dead were fake news. The civilian population had already fled because there was an invasion and the troops on both sides were battling it out in the city in a gorilla-style warfare.
The Germans subjected Rotterdam to heavy aerial bombardment by the Luftwaffe to support the German troops fighting in the city, and to force the Dutch army to surrender which was using the buildings in gorilla-style warfare. The bombing began with the start of hostilities on May 10th for four days into May 14th. Many have called this the Rotterdam Blitz. When the facts were sorted out, the official list published in 2022, revealed that at least 1,150 people were killed and 85,000 more were left homeless – a far cry from the fake news of war that 100,000 civilians dies in the bombing. As I have said, the first casualty of war is always the truth.
Nevertheless, at the end of the day, there are always more civilians who die in war than soldiers. That is the reality of all wars. The Iraq invasion was no different. This is why many consider the real war criminals to be the leaders who begin wars.
The “gentlemen’s agreement” did not apply to a troop invasion. The French bombing of the Siemens factory on June 7th, 1940 took place during the Battle of France (May 10, 1940 – Jun 25, 1940). However, it was targeting a military target. France and the Low Countries were conquered, ending land operations on the Western Front until the Normandy landings on June 6th, 1944.
The British bombing of Berlin was a retaliation that went too far and was meant to instill fear in the German population much as the US nuclear bombs dropped on two cities in Japan. I do not believe we will see a gentlemen’s agreement in World War III. I would bet that the capital cities will be attacked on both sides.
Republicans at the state level are demanding that Biden and the FHFA repeal the asinine new law that punishes Americans with high credit scores by forcing them to subsidize the mortgages of those with low credit scores. The Biden Administration has been attempting to control real estate for some time. In June 2021, Biden forced the Supreme Court to give him the power to fire Mark Calabria as the regulator of Freddie Mac and Fannie Mae. Biden’s team said they were “moving forward today to replace the current director with an appointee who reflects the administration’s values.” This was also when shareholders sued the government for the 2012 decision to pay all proceeds directly to the Treasury.
Trump was in favor of Calabria and fought to separate Freddie and Fannie from the government, but the Democrats repealed everything once Joe took over. Florida Chief Financial Officer Jimmy Patronis and 33 other Republicans at the state level are urging Biden and the FHFA to repeal this “hair-brained” policy. “This new policy … will take money away from the people who played by the rules and did things right – including millions of hardworking, middle-class Americans who built a good credit score and saved enough to make a strong down payment,” the group noted. “Incredibly, those who make down payments of 20 percent or more on their homes will pay the highest fees – one of the most backward incentives imaginable.”
Patronis and others argued that owning a home was once the American dream, and the new law will hurt middle-class families who worked and budgeted for their downpayment and credit score. “[T]he right way to solve that problem is not to use the power of the federal government to penalize hardworking, middle-class American families by confiscating their money and using it as a handout. The right way is to implement policies which will reduce inflation, cut energy costs and bring lower interest rates. Doing so will enable more families to save and improve their credit scores. Increased financial literacy efforts must also be part of the solution,” the letter also states. Lowering energy scores and inflation is not part of the Build Back Better agenda.
Providing people with loans who otherwise would not qualify is part of the plan for the Great Reset. Raising taxes on everything imaginable is also part of the agenda. The government wants to tax the middle class out of homeownership, force the working class to default on their mortgages, and move everyone into government-provided smart cities. The hatred toward government is brewing and will soon bubble over.
Posted originally on the CTH on May 2, 2023 | Sundance
The professional Republican Party is totally and completely disconnected from the average MAGA voter within it. Cue the visual demonstrationfrom today:
This disconnect between the Republican establishment and the base voter has always been frustrating and annoying, but now they are taking it to entirely new levels of ridiculousness. There must be multiple siphons and financial laundry operations from this Ukraine policy. Nothing else makes sense.
Seriously. Go ahead and tell me how the professional Republican Party is worth saving. I’ll be over here, supporting President Trump.
Also, there’s a Twit video of Mitch McConnell below (from today) that everyone must see. You tell me what’s going on. Something weird.
After spending several weeks recovering from a brain injury, this is Mitch McConnell today:
Posted originally on the CTH on April 16, 2023 | Sundance
Christine Lagarde, president of the European Central Bank, appears on Face the Nation to describe the current status of EU success in shrinking the economy to achieve parity with the shrinking of energy development. Ms. Lagarde is very happy with their ‘management of the transition’ so far, and sees slow economic growth combined with a citizenry happily accepting the lower standard of living, the new normal.
As Lagarde outlines, the lowered economic activity is helping the central banks support the objectives of the government officials and corporations who are giving the instructions. Overall, she is optimistic the common man and woman will continue accepting less ability to achieve personal economic and financial success, as the bankers and politicians continue managing the western transition. Things are going swimmingly. WATCH:
MARGARET BRENNAN: We’re joined now by Christine Lagarde, former head of the IMF, now the president of the European Central Bank. Good morning.
PRESIDENT OF THE EUROPEAN CENTRAL BANK CHRISTINE LAGARDE: Good morning, Margaret. Lovely to be back.
MARGARET BRENNAN: Good to have you here, and your recovery is going all right?
MADAME LAGARDE: Yes, in a couple of days, I think I’ll be fine.
MARGARET BRENNAN: I’m glad to hear that. You have a long list of things ahead of you. And I want to ask you about the global recovery. You were speaking a few days ago and you said the recovery for the economy is fragile and uncertain in this country. The Fed thinks we’ll see a mild recession later this year. What is it that you predict?
MADAME LAGARDE: First of all, there is recovery. That’s, I think, a point that was not really firm only six months ago where we all assumed that there would be a recession, if only a technical one. If you look at all the forecasts at the moment, it’s all positive. It’s been slightly downgraded. But overall, we have a recovery and we are faced with high uncertainty because of multiple factors, you know, from all corners of the world. It’s the war in Ukraine. It’s the financial stability that clearly has been shaken up a bit by the US and Switzerland development. It’s inflation that we are fighting. It’s all that which really create a hollow of uncertainty around a recovery that we want to embed. That’s pretty much where we are.
MARGARET BRENNAN: So there were those recent bank failures here in the United States, also one in Switzerland. Given that, it sounds like you’re saying you don’t see a hard landing, you’re seeing a positive trajectory for the global economy?
MADAME LAGARDE: I think we have a narrow path to navigate, which requires that both the governments and the central banks around the world adopt the right policies.
MARGARET BRENNAN: OPEC just cut output.
MADAME LAGARDE: Hm?
MARGARET BRENNAN: OPEC just cut output, but you don’t see that as a disruption?
MADAME LAGARDE: I know. And- and we have to be very attentive. But in the meantime, if you look at- I’ll have to look at Europe at the moment. We have reduced our overall consumption of gas energy, for instance, by more than 15 percent. So it’s not as if we negotiated here or there. We just cut down our energy consumption, number one. Number two, we have renegotiated with multiple partners ranging from Norway to the United States of America, which is a big supplier of our energy. And I think that our dependency, which we learned the hard way about, has significantly declined. So I think that we moved from the illusion of plenty of energy, free money, to a time of resilience and building buffers. This is what has happened.
MARGARET BRENNAN: It’s interesting to hear that optimism. I mean, given the bank failures we just saw, you hear from bank CEOs in this country, this idea that they’re getting more cautious about lending money, largely that there’s some contraction in credit there. How concerned are you and how does that complicate your planning?
MADAME LAGARDE: It’s funny you should ask, complication because in a way it facilitates my planning and it complicates the future as far as growth.
MARGARET BRENNAN: Because it slows down business activity so you don’t have to raise rates as much or as frequently.
MADAME LAGARDE: We don’t have to reduce. We’ll see. Because we need to really measure what will come out of this- this financial events that took place recently. What impact will it have? How will banks react? How will they assess risk and how much credit will they lend? But if they don’t lend too much credit and if they manage their risk, it might reduce the work that we have to do to reduce inflation, okay? But if they reduce too much credit, then it will weigh on growth excessively. So it’s a fine balance to have between credit risk, good management on the one hand, and on the other hand, financing the economy as is expected by- by the business community. The business community wants to invest at the moment. Some of them have big buffers and they can use those buffers, others are going to need credit financing from the banking sector and the markets, both of them.
MARGARET BRENNAN: I want to ask you about the U.S.. And it’s not a political question, it’s an economic one. But there are predictions that the U.S. could default in its national debt as soon as June, some say September, and we have a political standoff in this country, virtually no negotiation happening on how to resolve this. Does that undermine your confidence in the United States? And what message does that send to the world?
MADAME LAGARDE: I have huge confidence in the United States. You know, ever since my year in this country, and this city in ’73, ’74, I have had confidence in this country and I just cannot believe that they would let such a major, major disaster happen of the United States defaulting on its debt. This is not possible. I cannot believe that it would happen. But if it did happen, it would have very, very negative impact, not just for this country where confidence would be challenged, but around the world. Let’s face it, this is the largest economy. It’s a major leader in economic growth around the world. It cannot let that happen. I understand the politics, I’ve been in politics myself. But there is a time when the higher interest of a nation has to prevail. I’m sorry.
MARGARET BRENNAN: And you think that will happen?
MADAME LAGARDE: I have huge trust in this country yet again.
MARGARET BRENNAN: You’re bringing a lot of optimism to a show where we don’t have a lot of optimism.
MADAME LAGARDE: Oh. I’m sorry (laughs)
MARGARET BRENNAN: No, I like it. It’s interesting. It’s a change. I want to ask you, though, about what you just said in terms of U.S. leadership. You look to the other side of the globe and Xi Jinping has said he wants China to be the world’s leading power by 2049. And Beijing is very interlinked into so many economies, particularly in Europe. Is the U.S. losing global influence?
MADAME LAGARDE: There is clearly a competition between these- these large economies. The U.S. is the first economy in the world. China is clearly competing, and is putting all forces in that competition. I think competition is healthy. It has to stimulate innovation. It has to stimulate productivity. But it’s inevitable that these two large economies are facing each other. What I hope very much is that they can have a dialogue because, you know, all these relationships, whether it’s trade, whether it’s politics, whether it’s economic development, whether it is financial stability, it’s a two-way street. We cannot ignore each other, and trade should not be confrontational. It has to be careful. It has to identify the areas that are strategic for one country or the other- or all the others. But it shouldn’t be confrontational. I’m on the same page as Henry Kissinger on that, or Kevin Rudd, the new Australian ambassador. Conflict is not unavoidable.
MARGARET BRENNAN: But there is, it seems, increased political pressure to choose between the United States and China in many ways in some of these political capitals. Is that even practical from an economic point of view?
MADAME LAGARDE: It would lead to economic downside, the amount of which is uncertain. Is the global economy going to be affected by one or X percent? There are multiple forecasts, all of them are negative. So the decoupling and the sort of bipolarization of the world would lead to less economic growth, less prosperity in the world, more poverty across the world. So I think that this is something that should be by all means avoided.
MARGARET BRENNAN: Madame Lagarde, it’s always wonderful to have you here. Thank you. We’ll be right back.
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Martin Armstrong, a true market maverick & innovator – ‘History doesn’t repeat itself, but it does rhyme’ M.Twain – a motto for the ages and closely linked to Martin Armstrong’s market and personal ethos, Martin’s Socrates platform is truly groundbreaking as is his Economic Confidence model, listen in and learn more – enjoy!
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This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
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