A Dark Day for Savers and the Economy as Lagarde Takes Over the ECB.
In this report, I cover the early market action from London on Friday, November 1st, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today is the day that Christine Lagarde takes over the baton from Mario Draghi as ECB President and therefore I will be looking at some comments she made a couple of days ago in which she called for the German and Dutch governments to increase their fiscal spending.
I will be looking at what happened in Iceland after their economy imploded in the aftermath of the 2008 Crisis and how the Icelanders actually got through the crisis by actually allowing the banks there to fail and also by jailing the bankers who were responsible for the crisis.
Christine Lagarde looks set to continue to punish savers by keeping interest rates negative as she has no clue of how to allow the free market to do its job like it did in Iceland.
My conclusion for today is that Lagarde is a compromised person as she was criminally convicted in France in 2016 and so she will keep doing the bidding of the powers that be to keep transferring wealth from the public to the international banking elite.
https://d.tube/v/maneco64/dvZbLIG1cFA
"Christine Lagarde Convicted...": https://www.independent.co.uk/news/wo...
"If Iceland Can Jail Bankers For The Crash Then Why Can't America?": https://www.forbes.com/sites/timworst...
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