Infinite Unknown

- Rampapalooza As Cyprus-Troika Reach Deal (Updates) (ZeroHedge, March 24, 2013):

UPDATE: It appears the ‘deal’ to default/restructure the banks has been designed to bypass the need for parliamentary votes, since it is theoretically not a tax.

While we have little color on what kind of carnage the President of Cyprus had to accept to his fellow countrymen, the news is that :

• *CYPRUS, TROIKA REACH AGREEMENT IN PRINCIPLE, EU OFFICIAL SAYS
• *DEAL MADE AT DINNER WITH DRAGHI, LAGARDE, VAN ROMPUY, BARROSO

The terms, unsurprisingly what zee Germans wanted, are:

i) Laiki to be wound down;

ii) Bank of Cyprus to survive but with deposit haircuts, and

iii) deal would see secured deposits in Laiki moved to Bank of Cyprus.

In other words, a deal far worse then the original on proposed by the Eurogroup last week – when the banks still existed. The key appears to be the ‘saving’ of the insured depositors (crucial to avoid a pan-European bank run) and the crushing of the ‘whale’ depositors.

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Tags: Bailout, Christine Lagarde, Cyprus, ECB, Economy, EU, Europe, Global News, Government, Herman Van Rompuy, IMF, Jose Manuel Barroso, Mario Draghi, Politics Edit

IMF chief Christine Lagarde

- IMF’s Lagarde Flat Raided Over French ‘Payout’ Probe (ZeroHedge, March 20, 2013):

In a follow-up to investigations over alleged wrongdoing surrounding a EUR285mm payout by the then French finance minister and now IMF head, The Telegraph reports, Christine Lagarde’s Paris flat has been raided. The fresh (if you’re an orange) faced IMF Chief, of course, denies any wrongdoing in the case of a huge 2008 compensation payment to businessman supporter of ex-President Sarkozy. On the bright side, at least there were no indiscretions in hotel rooms involved (yet it seems she is following in the strong footsteps of her predecessor DSK – how can we not trust these people?)
Via RT,

The Court of Justice of the Republic ordered a probe into the case under the suspicion that Lagarde had committed an abuse of power by releasing the funds to Tapie. The then socialist opposition alleged that Nicolas Sarkozy’s government was rewarding the businessman Tapie for his support during the 2007 elections.

Via The Telegraph,

French police raid IMF chief Christine Lagarde’s flat in Bernard Tapie probe

French authorities have searched the Paris flat of IMF chief Christine Lagarde as part of an investigation into her handling of a 2008 compensation payment to a businessman supporter of ex-president Nicolas Sarkozy, her lawyer said.

Police are investigating claims that Lagarde, when French Finance Minister under Nicolas Sarkozy, acted illegally in approving the €285m arbitration payout to Bernard Tapie.

Lagarde denies any wrongdoing.

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Tags: Christine Lagarde, Crime, EU, Europe, France, Global News, Government, IMF, Nicolas Sarkozy, Politics

Commentary:

In case some of you still think that politicians and central banksters won’t lie to you:

Flashback: Quotes from the Great Depression

In other news:

- Financial Markets Cheer The Death Of The Bundesbank (Welt, Sep 6, 2012) – Bundesbank Text: Weidmann Reiterated Bond-Buy Criticism

- Hyper Mario Draghi: ‘Euro Is Irreversible’ – ECB Announces Sweeping Program For Buying Bonds, Giving The Bank Potentially Unprecedented Power

- The ESM Violates The Law And EU Treaties (Welt, Sep 4, 2012)

War Is Peace!

… and …

Printing Money (QE) Is Saving The Euro!

Quantitative easing (QE) = printing money = creating money out of thin air = increasing the money supply = inflation = hidden tax on monetary assets = theft!

The ECB will just delay the coming (necessary) collapse for a while. This will be EXTREMELY beneficial for the elitists and the banksters …

… and the middle class and the poor will be totally and utterly destroyed:

“When a country embarks on deficit financing and inflationism you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
- Ron Paul

Here is, AGAIN, where elite puppet Draghi is coming from:

- Mario Draghi (Wikipedia):

Draghi was then vice chairman and managing director of Goldman Sachs International and a member of the firm-wide management committee (2002–2005). A controversy existed on his duties while employed at Goldman Sachs. Pascal Canfin (MEP) asserted Draghi was involved in swaps for European governments, namely Greece, trying to disguise their countries’ economic status.

The ECB will have to monetize TRILLIONS of bad debt!!!

Got physical gold, silver and a remote farm (food, water, etc.)?

Central bank governor Mario Draghi overcomes Germany’s fears over inflation to announce new intervention in debt markets

ECB president Mario Draghi was careful to address German objections in his presentation of the unlimited bond-buying policy. Photograph: Alex Domanski/Reuters

- ECB introduces unlimited bond-buying in boldest attempt yet to end euro crisis (Guardian, Sep 6, 2012):

The European Central Bank (ECB) unveiled its boldest attempt yet to stabilise the battered single currency on Thursday when its president, Mario Draghi, announced a new programme of open-ended, unlimited buying of distressed government bonds.

The scheme is aimed at depressing the costs of borrowing for Spain and Italy and countering the risks of a fragmentation of the eurozone and the unravelling of the single currency.

But Draghi also set strict terms for triggering the bond-buying programme, putting pressure on the eurozone’s political leaders to request help, enter austerity programmes, and agree on direct bailouts for struggling governments before the ECB will act.

Draghi brushed aside strong resistance from Germany’s powerful Bundesbank, which lodged the only vote against the new policy in the ECB’s 23-strong governing council, to come good on his pledge in London six weeks ago that the central bank would do “whatever it takes” to save the euro.

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Tags: Bailout, Bonds, Christine Lagarde, Debt, ECB, Economy, EFSF, ESM, EU, Europe, Global News, Goldman Sachs, Hyperinflation, IMF, Inflation, Italy, Mario Draghi, Politics, Quantitative Easing, Society, Spain

As a side note: Gerald Celente officially supported Ron Paul … before.

Must-see!

Tags: Bilderberg, Bilderberg 2012, Bonds, Christine Lagarde, collap, Collapse, Debt, Dictatorship, Economy, EU, Europe, Fascism, Gerald Celente, Global News, Government, Greece, IMF, Indefinite Detention, Italy, Military, Mitt Romney, NDAA, New World Order, Obama administration, Police State, Politics, Portugal, Rand Paul, Ron Paul, Society, Spain, U.S., WWW III

- Mario Draghi (Wikipedia):

Draghi was then vice chairman and managing director of Goldman Sachs International and a member of the firm-wide management committee (2002–2005). A controversy existed on his duties while employed at Goldman Sachs. Pascal Canfin (MEP) asserted Draghi was involved in swaps for European governments, namely Greece, trying to disguise their countries’ economic status.

See also:

- How To Lose All Your Money With Goldman Sachs

And now: How to take down Europe with Goldman Sachs!

- Eurozone is ‘unsustainable’ warns Mario Draghi (Telegraph, May 31, 2012):

The head of the European Central Bank hit out at the political paralysis gripping the region as he warned the eurozone’s set-up was “unsustainable”.

Mario Draghi said the central bank could not “fill the vacuum” left by member states’ lack of action as it was claimed the zone is on the point of “disintegration”.

Amid escalating talk of a potential bail-out for Spain, the president of the ECB said the central bank was powerless to stop the debt tornado. “It’s not our duty, it’s not in our mandate” to “fill the vacuum left by the lack of action by national governments on the fiscal front,” he said.

Luis de Guindos, Spain’s Economy Minister, urged Berlin to “assume its part” in restoring the health of the eurozone. He said: “The battle of the euro is being fought right now in Spain and Italy. The future of the euro is at stake in the next weeks.”

Christine Lagarde, the head of the International Monetary Fund, last night denied that an IMF bail-out of Spain was being prepared.

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Tags: Christine Lagarde, Economy, EU, Europe, Global News, Government, Italy, Mario Draghi, Politics, Society, Spain

IMF boss who caused international outrage when she suggested that Greeks should pay their taxes earns a tax-free salary

IMF managing director Christine Lagarde. Photograph: Dominick Reuter/Reuters

- Christine Lagarde, scourge of tax evaders, pays no tax (Guardian, May 29, 2012)

Christine Lagarde, the IMF boss who caused international outrage after she suggested in an interview with the Guardian on Friday that beleaguered Greeks might do well to pay their taxes, pays no taxes, it has emerged.

As an official of an international institution, her salary of $467,940 (£298,675) a year plus $83,760 additional allowance a year is not subject to any taxes.

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Tags: Christine Lagarde, IMF, Society, Taxes, Taxpayers

This is the (intentionally created) ‘Greatest Depression’.

YouTube Added: 15.12.2011

Tags: Christine Lagarde, Economy, EU, Europe, Global News, Government, Great Depression, Politics, Society

ROFL!

- Christine Lagarde: IMF may need billions in extra funding (Telegraph, Sep. 25, 2011):

The head of the IMF has warned that its $384bn (£248bn) war chest designed as an emergency bail-out fund is inadequate to deliver the scale of the support required by troubled states.

In a document distributed to the IMF steering committee at the weekend, Ms Lagarde said: “The fund’s credibility, and hence effectiveness, rests on its perceived capacity to cope with worst-casescenarios. Our lending capacity of almost $400bn looks comfortable today, but pales in comparison with the potential financing needs of vulnerable countries and crisis bystanders.”

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Tags: Bailout, Christine Lagarde, Economy, EU, Europe, Global News, Government, IMF, Politics

See also:

- Greece To Default: Interest Rate On 1-Year Greek Government Debt At Whopping 60 Percent!!!

- The Second Bailout Has Now Failed: Greece Activates Last-Ditch Liquidity Rescue Package To Preserve Its Financial System

Got PHYSICAL gold and silver?

- Choice for EU: Bail Out Greece or Bail Your Banks (Wall Street Journal, AUGUST 31, 2011):

The yield on Greek one-year government bills hit 60% Tuesday.

Not only does this suggest default is now all but certain and will come soon, it also implies that the terms of the default will be particularly brutal for investors, with recovery rates possibly even lower than the currently anticipated 50%.

European governments are being forced to face up to the significance of a Greek default. This is perhaps the underlying message from International Monetary Fund Managing Director Christine Lagarde’s warning that Europe’s banks “need urgent recapitalization.” She may have been warning about the costly alternative to a solution to the Greek sovereign crisis. But it could well be too late.

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Tags: Bailout, Banking, Bonds, Christine Lagarde, Debt, Economy, EU, Europe, Global News, Government, IMF, Politics, Society

See also:

- Obama Privately Told The Banksters: We’re Not Defaulting

- IMF’s Lagarde Says U.S. Dollar May Lose ‘Privilege’ Amid Debt-Limit Crisis (Bloomberg, Jul 29, 2011):

International Monetary Fund Managing Director Christine Lagarde said the dollar’s standing as the world’s main reserve currency may be diminished as U.S. lawmakers fail to lift the nation’s debt limit.

The U.S. currency has had an “exorbitant privilege because it was the reserve currency that most central banks had,” Lagarde said in an interview on PBS’s “Newshour” yesterday. “If there was a dent in this exorbitant privilege and the confidence that most people have towards the dollar, it would probably entail a decline of the dollar relative to other currencies.”

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Tags: Barack Obama, Christine Lagarde, Debt, Environment, Global News, Government, IMF, Obama administration, Politics, U.S.