It is only a matter of time before every citizen in the EU becomes aware of the largest bank and pension fraud in history (Worst Bank Scenario);
PLEASE SHARE:
The banking system that was built up from the 1970s onwards (after the Nixon shock) is based on securitisations, OTC derivatives and collateral trading (banks enter into contracts with pension funds and insurers, with collateral trading taking place off-balance sheet). From the very professionalisation of this OTC derivatives trading, it was already known that highly liquid collateral was required. In the EU this shortfall amounted to more than EUR 2,000 billion in 2008; worldwide, tens of trillions of euros. The credit crisis did not come unexpectedly but was part of the Worst Bank Scenario.
Barroso was the one who in 2005 proposed the ‘Globalisation Fund’, which entered into force on 1 January 2007.
In 2007, the Trans-Atlantic plan was concluded between the EU and the US, and the megalomaniac transition was rolled out (climate, energy, pandemic preparedness, Ukraine, and a Palestinian state) to force the creation of the United States of Europe through the ECB, central banks, and parties such as ING, BlackRock, Goldman Sachs, etc., using common debts.
At the same time, the Treaty of Lisbon was being prepared, which was signed in 2009. Climate, energy, and solidarity (we will fairly share the debts) were smuggled into the EU Treaty, and Article 122 was amended so that in a “crisis” EU debt (Eurobonds) can be created without citizen input and through a fast-track procedure (as with the corona recovery fund, the financing of Russian assets, etc.).
Through the back door, the elite has seized power in the EU, and this elite believes it is possible to complete the European Union through fraud and common debts.
Draghi worked at Goldman Sachs and became president of the Bank of Italy in 2006. Trichet was president of the ECB. Lagarde sat on the Supervisory Board of ING/NN for half a year in 2005 — the bank that forms the central pivot in the Worst Bank Scenario.
Lagarde subsequently became Minister of Finance, with Macron working under her. He joined the Attali Commission in 2007 and was seconded to Rothschild in 2008 — the bank that advised among others the Dutch state on bank rescues.
Lagarde succeeded the Frenchman Strauss-Kahn at the IMF in 2011. While bank directors and other financial executives are subject to fit-and-proper tests — where a fraud conviction is an obstacle to appointment — this is apparently no issue at all at the ECB.
Draghi (then still president of the Bank of Italy) and Trichet used LCH.Clearnet in 2010/2011 (the year Regulation 2011/1176 was adopted — the foundation for the NextGenerationEU plan that was launched under the guise of Corona in 2020). By adjusting collateral requirements (haircuts), they manipulated Italian interest rates so that the asset purchase programme could be expanded even further once Draghi became ECB president.
Draghi, himself a Goldman Sachs alumnus, wanted — “whatever it takes” — to narrow the interest rate spreads between Southern and Northern member states (with the ultimate goal of European own resources and Eurobonds).
In 2015, banks and insurers were separated and interest rates were pushed into negative territory so that banks would pay for this enormous collateral upgrade for OTC derivatives, which they executed via the central banks. Attali advocated in 2015 for European defence bonds.
Corona was seized upon to finally launch the eurobonds. Thanks to the amended Treaty of Lisbon, without any input from troublesome parliamentarians or citizens.
The ECB is by no means independent. It is being used by the establishment to carry out the Worst Bank Scenario in order to realise the European Federation (transfer union) — among other things through the ESM and hundreds of billions in state guarantees granted since 2012 (the Netherlands alone more than €200 billion).
Read Worst Bank Scenario.
Mario Draghi exemplifies true European statesmanship: answering the call when it mattered most and helping Europe emerge stronger.
President Christine
@Lagarde congratulates him on receiving the Charlemagne Prize
ecb.europa.eu/press/key/date…