FACT CHECK #93

 

 

Posted on January 25, 2014 by 18 Comments

Found at weforum.org:

http://www.weforum.org/sessions/summary/global-economic-outlook-2014

We found this video on the World Economic Forum website this morning. It is a session conducted at the WEF. The topic of the session was :

  Global Economic Outlook 2014What should be at the top of the agenda for the global economy in the year ahead?Speakers: Wolfgang Schäuble, Montek Singh Ahluwalia, Mario Draghi, Haruhiko Kuroda, Martin Wolf, Christine Lagarde, Mark J. Carney, Laurence Fink

Much of this is beyond my personal comprehension since I am not an economist or central banker. 

IMF Chief  Christine Lagarde began commenting on world economic affairs and began with what she called her “R words”. The first two were “recovery” and “risk”. However, at around the 9 minute mark, Lagarde mentions another “R word”: Reset.

Here are some of her words on that topic. I leave it to you to determine if you feel she is priming the pump for what we all anticipate as the Global Currency Reset. Please understand that we cannot claim that she is referring to it since we do not have the luxury of picking up the phone to speak directly to her and asking, and further, it would be doubtful that she could even talk about it if she would take my call in the first place.

Here is a partial transcript of her remarks on a “reset”: “My last “R” is “reset”.  We are seeing, as necessary going forward, a reset in the area of monetary policies. We believe that quantitative easing and the accommodating  monetary policies that have been adopted so far should be continued up until such point where growth is well anchored in those economies, and this is not yet the case everywhere. Reset, in the sense that once it is well anchored, then those accommodating monetary policies have to be reformulated; have to move either back into their old territories or be more traditional, or be, maybe of a different kind and I am sure central bankers around here will be able to comment on that. But, that’s first reset.”  -Christine Lagarde 

How interesting that the word “reset” is being used. And to clearly say at one point that policies have to MOVE BACK to their old territories or be more traditional? Traditional, as in the tradition of backing money with assets? I have no clue if that is what she was referring to. Further, the use of the words “different kind” to describe the kind of reform was, to me, stunning. To me, that means a total change.

We thought we would share this with you as a possible sign of things to come. At this time we patiently await events to transpire along with all of you.

Thank you for your continued support, kind remarks and good will. The White Hats appreciate your patience and support as well.  

More to follow when appropriate.

WHA

Source:  http://whitehatauxiliaries.wordpress.com/2014/01/25/fact-check-93/

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