She makes TV appearances and acts like the GOOD GIRL for HUMANITY. What is going on with this woman, find out below. FROM a RECENT INTERVIEW with ZORRA from HOLLOW EARTH NETWORK, we FOUND out the UNITED NATIONS OWNS the IMF and the FEDERAL RESERVE, HOW CONVENIENT! THE UNITED NATIONS, that RUNS OUR PLANET, the powers that WERE. WILL NOT BE ALLOWED to BE IN CONTROL ANYMORE! BE STRONG FOLKS. WE have A new governance coming, THAT IS FAIR TO ALL.
It’s a GAME SHOW WHEN USING the DRACONIAN COURTS, IS IT NOT?
IMF – was HOLDING UP the RV so the GALACTICS had to come in. SURE SEEMS LIKE she is ILLUMINATI? HERE are some COURT CASES she has been in HERSELF. She still WORKS for THE IMF, TODAY. SHE IS PUSHING for carbon TAXES, SO IT MAKES you wonder WHO SIDE IS SHE REALLY ON?
The head of the International Monetary Fund arrived in the dock of a Paris courtroom today as she braced herself to be formally charged with embezzlement and fraud.
Christine Lagarde’s humiliation is not only a massive personal blow which could lead to her resignation, but one which will plunge the world’s banking system into further ignominy.
The clearly nervous 57-year-old said nothing to reporters as she entered the Court of Justice of the Republic, a special tribunal set up to judge the conduct of France’s government ministers, shortly after 8.30am.
Lagarde faces a maximum sentence of 10 years in jail if found guilty of the very serious charges.
It was when she was President Nicolas Sarkozy’s finance minister that she is said to have authorised a 270 million pounds payout to one of his prominent supporters, so abusing her government position.
The money went to Bernard Tapie, a convicted football match fixer and tax dodger who supported Lagarde and Sarkozy’s UMP party.
It came after Dominque Strauss-Kahn, another senior French politician, was sacked as IMF chief following allegations that he attempted to rape a chambermaid in a New York hotel.
Ms Lagarde began campaigning to succeed Mr Strauss-Kahn soon after his arrest for the alleged crime.
But now it is Ms Lagarde, a lawyer and retired synchronised swimming star, who is facing a long court process of her own, as well as a possible jail sentence.
The scandal will not only pile further shame on France’s political class, but worry politicians and bankers desperately trying to resolve the global financial crisis.
Mr Tapie, the former head of adidas in France, claims he was cheated out of millions by Credit Lyonnais bank when the sports kit empire was sold in 1993.
In 2007, Ms Largarde ended the epic dispute by ordering a panel of judges to arbitrate and, in turn, they awarded Tapie the damages.
Opposition MPs were furious, with former presidential candidate Francois Bayrou accusing Ms Lagarde of ‘dipping into the taxpayers’ pocket for a private beneficiary.’
Mr Strauss-Kahn’s Socialist Party also accused Ms Lagarde of improper conduct, pointing to the fact that Mr Tapie was a vocal supporter of Sarkozy.
Ms Lagarde’s lawyer, Yves Repiquet, said the inquiry was ‘in no way incompatible’ with her new job, and expected the case to be dismissed.
Ms Lagarde denies any wrongdoing, saying before today’s court appearance: ‘If it’s decided to continue with this inquiry it won’t be particularly surprising. Personally, it doesn’t worry me at all – I didn’t benefit personally’.
But it has been widely reported in the French media that investigators intend to charge her with fraud and embezzlement.
Le Monde said that magistrates had already written to Mrs Lagarde to tell her that she should not expect any special treatment because of her high-profile international job.
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The head of the International Monetary Fund arrived in the dock of a Paris courtroom today as she braced herself to be formally charged with embezzlement and fraud.
Christine Lagarde’s humiliation is not only a massive personal blow which could lead to her resignation, but one which will plunge the world’s banking system into further ignominy.
The clearly nervous 57-year-old said nothing to reporters as she entered the Court of Justice of the Republic, a special tribunal set up to judge the conduct of France’s government ministers, shortly after 8.30am.
Lagarde faces a maximum sentence of 10 years in jail if found guilty of the very serious charges.
It was when she was President Nicolas Sarkozy’s finance minister that she is said to have authorised a 270 million pounds payout to one of his prominent supporters, so abusing her government position.
The money went to Bernard Tapie, a convicted football match fixer and tax dodger who supported Lagarde and Sarkozy’s UMP party.
It came after Dominque Strauss-Kahn, another senior French politician, was sacked as IMF chief following allegations that he attempted to rape a chambermaid in a New York hotel.
Ms Lagarde began campaigning to succeed Mr Strauss-Kahn soon after his arrest for the alleged crime.
But now it is Ms Lagarde, a lawyer and retired synchronised swimming star, who is facing a long court process of her own, as well as a possible jail sentence.
The scandal will not only pile further shame on France’s political class, but worry politicians and bankers desperately trying to resolve the global financial crisis.
Mr Tapie, the former head of adidas in France, claims he was cheated out of millions by Credit Lyonnais bank when the sports kit empire was sold in 1993.
In 2007, Ms Largarde ended the epic dispute by ordering a panel of judges to arbitrate and, in turn, they awarded Tapie the damages.
Opposition MPs were furious, with former presidential candidate Francois Bayrou accusing Ms Lagarde of ‘dipping into the taxpayers’ pocket for a private beneficiary.’
Mr Strauss-Kahn’s Socialist Party also accused Ms Lagarde of improper conduct, pointing to the fact that Mr Tapie was a vocal supporter of Sarkozy.
Ms Lagarde’s lawyer, Yves Repiquet, said the inquiry was ‘in no way incompatible’ with her new job, and expected the case to be dismissed.
Ms Lagarde denies any wrongdoing, saying before today’s court appearance: ‘If it’s decided to continue with this inquiry it won’t be particularly surprising. Personally, it doesn’t worry me at all – I didn’t benefit personally’.
But it has been widely reported in the French media that investigators intend to charge her with fraud and embezzlement.
Le Monde said that magistrates had already written to Mrs Lagarde to tell her that she should not expect any special treatment because of her high-profile international job.
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IMF’s Christine Lagarde ‘under investigation’
French authorities have formally opened a negligence investigation into Christine Lagarde, the head of the International Monetary Fund (IMF).
She has been questioned about her role in awarding 400m euro (£318m; $527m) in compensation to businessman Bernard Tapie in 2008. She denies wrongdoing.
Ms Lagarde, 58, was finance minister in President Nicolas Sarkozy’s government at the time of the award.
Mr Tapie supported Mr Sarkozy in the 2007 presidential election.
He was once a majority shareholder in sports goods company Adidas but sold it in 1993 in order to become a cabinet minister in Francois Mitterrand’s Socialist government.
Mr Tapie sued Credit Lyonnais over its handling of the sale, alleging the partly state-owned bank had defrauded him by deliberately undervaluing the company.
‘No resignation’
His case was later referred by Ms Lagarde to a three-member arbitration panel which awarded the compensation.
Investigators suspect he was granted a deal in return for his support of Nicolas Sarkozy.
Ms Lagarde said last year that her decision to refer Mr Tapie’s long-running dispute with Credit Lyonnais to a panel of judges was “the best solution at the time”.
Although being placed under formal investigation does not necessarily lead to charges, the development could raise questions about the rest of her term at the IMF, which is due to end in 2016.
She told AFP news agency she had no intention of resigning from the IMF.
Her lawyer, Yves Repiquet, told Reuters news agency he would personally appeal against the French magistrates’ decision, which means Ms Lagarde would not need to return to Paris.
Ms Lagarde says she is returning to Washington, where she will brief the IMF board on the recent development.
She replaced Dominique Strauss-Kahn as IMF managing director in 2011.
Mr Strauss-Kahn – also a former French minister – resigned following his arrest in New York on charges of sexual assault that were later dropped.
Ms Lagarde belongs to the same opposition UMP party as Nicolas Sarkozy, who has also been placed under formal investigation on suspicion of seeking to influence judges who were looking into his affairs.
Mr Sarkozy was detained for questioning in July – the first time a former French head of state has been held in police custody.
He is hoping to challenge again for the presidency in 2017 and the allegations are seen as a blow to his hopes of returning to office.
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IMF chief Christine Lagarde charged with ‘negligence’ in £318m French political corruption case
- Lagarde says she has been charged with ‘negligence’ in corruption probe
- Allegations date back to her time as French finance minister
- She says decision to investigate her was ‘totally without merit’
- Faces questions over role in £318m payment to businessman Bernard Tapie
International Monetary Fund chief Christine Lagarde today revealed she has been charged with ‘negligence’ in a French corruption probe dating back to her days as finance minister.
The shock announcement came a day after she was grilled by a special court in Paris that probes cases of ministerial misconduct, the fourth time she has faced such questioning in the case.
Ms Lagarde, one of the world’s most powerful women, said the decision to investigate her was ‘totally without merit‘.
Asked whether she intended to resign from the IMF after her fourth round of questioning before magistrates, she responded: ‘No.’
She and her former chief of staff face questions about their role in a 400 million-euro (£318 million) payment to a businessman.
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Questioned: IMF chief Christine Lagarde has confirmed she is under investigation in a French corruption probe that dates back to her days as finance minister. She is pictured arriving at a Paris courthouse in March
In exclusive comments to the AFP news agency, she said: ‘The investigating commission of the court of justice of the French Republic has decided to place me under formal investigation.
‘I have instructed my lawyer to appeal this decision which I consider totally without merit.’
Read more: http://www.dailymail.co.uk/news/article-2735489/IMF-chief-Christine-Lagarde-investigated-French-court-alleged-role-political-fraud-case.html#ixzz3sbjHcsqB
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French minister says IMF boss Christine Lagarde ‘must resign’ if she is charged in connection with £270 million fraud and embezzlement scam
- Lagarde, 57, appears in front of special tribunal of judges in Paris
- Widely expected to be charged with fraud and embezzlement
- Relates to £270m payout to Bernard Tapie when she was finance minister
- Government minister Najat Vallaud-Belkacem says she will be asked to quit if placed under investigation by Court of Justice of the Republic
- Denies any wrongdoing and lawyer said she expects case to be dismissed
Former French finance minister and head of the IMF Christine Lagarde appeared in court this morning where she was expected to be formally charged with embezzlement and fraud
A French government minister last night called on Christine Lagarde, the head of the International Monetary Fund, to resign if she is charged with fraud and embezzlement.
She was questioned by magistrates in Paris yesterday over a £340million payout of public money five years ago to convicted conman Bernard Tapie.
As she appeared in court, there were calls for her to stand down from her high-profile £305,000-a-year job if she is charged.
Najat Vallaud-Belkacem, the Minister for Women’s Rights, said: ‘Knowing the IMF and the way this type of institution works, I tend to think that if she was placed under investigation, she would without doubt be asked to quit her post.’
Last night the court adjourned after 13 hours sitting but it was widely predicted Mrs Lagarde, 57, would be placed under investigation by the Court of Justice of the Republic, equivalent to a suspect being charged in the UK.
She faces allegations that she stepped in to settle a long- running legal battle in which Tapie claimed he was cheated out of millions by Credit Lyonnais bank over the 1993 sale of his sportswear company Adidas.
Mrs Lagarde ordered a panel of judges to arbitrate and they awarded Tapie 400million euros (£340million) in damages paid from taxpayers’ money. Prosecutors suspect Tapie received favourable treatment in return for supporting ex-president Nicolas Sarkozy in the 2007 presidential elections.
Claims: The raid relates to claims Miss Lagarde authorised a £270million payout to Bernard Tapie
They have suggested that Mrs Lagarde – who was France’s Finance Minister at the time and the first woman ever to hold the post – was partly responsible for ‘numerous anomalies and irregularities’ which could amount to complicity in fraud and misappropriation of public funds.
There is no suggestion Mrs Lagarde profited personally in any way from the final settlement.
The affair has become a huge embarrassment to France and the IMF.
Dominique Strauss-Kahn was forced to quit the IMF two years ago after being accused of trying to rape a hotel chambermaid in New York, charges which were later dropped.
Dispute: Mr Tapie, the former head of Adidas in France, claims he was cheated out of millions by Credit Lyonnais bank. Miss Lagarde ended the dispute by asking a panel of judges to arbitrate
Mrs Lagarde took over from ‘DSK’ almost two years ago, in July 2011.
Her grilling by prosecutors comes after police raided her £1million Paris apartment in March.
Mrs Lagarde’s lawyer, Yves Repiquet, said the inquiry was ‘in no way incompatible’ with her new job, adding that he expected the case to be dismissed.
She has denied any wrongdoing, saying: ‘If it’s decided to continue with this inquiry it won’t be particularly surprising. Personally, it doesn’t worry me at all – I didn’t benefit personally.’
But it has been widely reported in the French media that investigators intend to charge her with fraud and embezzlement.
Le Monde reported that magistrates had already written to Mrs Lagarde to tell her not to expect any special treatment because of her high-profile international job.
Tapie was jailed for six months in 1997 for corruption and match- fixing while he was the owner of Marseilles football club.
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Spain’s former IMF chief Rodrigo Rato arrested over fraud claims
Former head of the International Monetary Fund (IMF) Rodrigo Rato has been released by Spanish police after being arrested over a tax and money laundering inquiry into his personal wealth.
Rato, who previously served as Spain’s deputy prime minister and minister of economy and finance, was held for seven hours while his home and office were searched on Thursday.
Investigators are looking into the alleged widespread misuse of company credit cards for personal expenses during Rato’s tenure as ch…
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RODRIGO RATO was LATER CHARGED WITH FRAUD, below:
Rodrigo Rato, a former Spanish deputy prime minister and one-time head of the IMF, was taken into custody here Thursday after prosecutors charged him with fraud and asset laundering.
Personnel from the AEAT tax agency used an unmarked police car to transport Rato from his home to his office elsewhere in the capital.
A judge signed a warrant authorizing his detention to facilitate authorities’ ongoing search of the Rato residence and additional investigative steps to be carried out at other locations.
Rato was not handcuffed when he left his central Madrid home.
AEAT launched the investigation after Rato sought to use the Spanish government’s 2012 tax amnesty to regularize his assets, a process that exposed what prosecutors describe as a “complex network” of companies belonging to the former official’s family.
Questions about the origin of Rato’s wealth prompted his inclusion on a list of 705 people suspected of having used the tax amnesty to launder assets.
Rato served as economy minister and deputy premier in the 1996-2004 government of Prime Minister Jose Maria Aznar before being named as managing director of the International Monetary Fund, a post he held through 2007.
SOME MORE UPDATED NEWS. THIS NOVEMBER 2015
http://www.coindesk.com/imf-chief-banks-bitcoin-blockchain/
IMF Chief: Banks Shouldn’t Fear Bitcoin or the Blockchain
Christine Lagarde, chief of the International Monetary Fund (IMF) and finance minister under former French president Nicolas Sarkozy, said this week that banks don’t have much to fear from bitcoin or the blockchain.
The Financial Times reported today that, while speaking at a conference in New York City, Lagarde said attendees worried that the banking industry could be altered or rendered obsolete by the blockchain should “pause for a second”.
“Many of you have heard about not only bitcoins but blockchains and that unbelievable technology that underlies the bitcoins of this world at the moment, and how incredibly convenient it will be to actually generate trust and identify players and whatever pseudo they decide to use,” she said, according to FT. “And many of you in the industry are actually worried that those technologies are going to massively disrupt the current industry.”
“Pause for a second,” she is said to have told the bankers, continuing:
“If those new technologies, and as long as those new technologies are going to abuse, take advantage of, the yield for anonymity, I think the banking industry has quite a few good days ahead of it as long as it takes ownership of those issues of capital and culture in order to actually restore the trust without which you see no trade, no transaction, no business can take place.”
According to FT, Lagarde’s comments referenced a report by FT Alphaville’s Izabella Kaminska on the connection between the recent rise in the price of bitcoin and a suspected Ponzi scheme operating in Asia.
Lagarde has run the IMF since 2011, when she took over from Dominique Strauss-Kahn, another former French finance minister who resigned from the IMF in the wake of sexual assault allegations and an arrest in New York City.
Prior to serving as finance minister, Lagarde ran other French ministries, including the Ministry of Agriculture.
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http://www.afr.com/markets/currencies/china-shifting-gear-in-currency-capers-20151125-gl8ax8
China shifting gear in currency capers
by Karen Maley
How soon will it be before Beijing again devalues the yuan?
The question is becoming increasingly urgent as the US dollar continues to gain ground against other main currencies, such as the euro and the Japanese yen. Overnight the euro dipped further after reports the European Central Bank could decide to push the region’s deposit rate further into negative territory next week.
After its surprise devaluation of the yuan in August, which brought the level of the currency more into line with market reality, Beijing has kept the currency fairly steady at just less than 6.40 to the US dollar.
But to do so China has been forced to dip into its foreign currency reserves, which are mainly invested in US bonds. The latest US figures show China’s holdings of US bonds fell $US12.5 billion ($17.2 billion) in September, to a seven-month low of $US1.26 trillion.
At the same time, Beijing has clamped down on capital transfers. Last week, the state-owned newspaper People’s Daily reported that Chinese authorities had uncovered 170 cases of money laundering or illegal capital transfers since April, involving about 800 billion yuan ($173 billion). A total of 1.3 million transactions were scrutinised and 3000 accounts were frozen.
Chinese authorities are also tightening the rules on credit card transfers. In August, police in Macao raided five money lenders and arrested 17 individuals for using credit card transactions to mask foreign exchange transfers. The following month, Beijing announced a new limit on card withdrawals outside the country of 100,000 yuan a year, compared with the previous daily limit of 10,000 yuan.
LONG-RUNNING EFFORTS
At the same time, Beijing is continuing its long-running efforts to reduce another widespread practice of shifting capital out of the country by inflating the invoices issued by foreign suppliers.
Many analysts believe Beijing has delayed efforts to drive its currency lower while it waits to see whether it has succeeded in its long-term ambition of having the yuan included in the elite basket of currencies used to decide the value of the International Monetary Fund’s de facto currency.
Earlier in November, IMF staff recommended that the yuan be included in the Special Drawing Rights (SDR) basket, with IMF head Christine Lagarde saying the yuan met the IMF’s two main tests for inclusion – that it be “widely used” and “freely usable“.
Beijing has been pushing to have its currency join the US dollar, euro, yen and pound in the SDR basket, because it will confirm the yuan’s status as an important reserve currency.
If, as seems extremely likely, the IMF board decides to include the yuan in its SDR basket at its meeting on November 30, China would probably trigger a political backlash, particularly in the United States, were it to devalue its currency immediately.
As a result, Beijing is likely to wait weeks, if not months, before taking action.
China’s reference rate for the yuan is approaching the weakest level since an August devaluation and a breach of the low would probably fuel speculation that policy makers were prepared to let the currency depreciate, Societe Generale said.
CONTINUE TO MOUNT
But the cost of doing so will continue to mount, particularly if the US central bank decides to hike interest rates at its December 16 meeting.
Higher US interest rates will punish debt-laden Chinese borrowers heavily because it will push up the interest rate they pay on their US dollar-denominated loans. Even worse, higher US rates will probably push the US dollar even higher, making it more expensive for Chinese borrowers in local currency terms.
As a result, many Chinese borrowers are likely to try to pay down US dollar-denominated debts, with some analysts estimating that about $US 400 billion could be repaid. This demand by borrowers to sell yuan to buy US dollars will add to the downward pressure on the Chinese currency.
There are also strong economic reasons for China to embrace a lower yuan. Allowing the currency to fall would make it easier for the People’s Bank of China to pursue an easier monetary policy to prop up sagging growth.
China’s central bank has cut interest rates six times in the past year, as well as reducing the reserve requirements for banks, but this monetary stimulus has been reduced by its currency intervention, which has drained liquidity from the system.
Given the choice between easier monetary policy to boost growth and defending the currency, it’s likely to be only a matter of time before Beijing opts for the former.
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WHOEVER MS LAGARDE IS – WE HOPE THIS RV THING COMES THROUGH.
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We all know CARBON TAXES is just another money GRAB SCAM, FOR OUR GOVERNMENTS _ TO HIDE and STEAL more OF HUMANITY’S FUNDS, but CHRISTINE LAGARDE, DOESN’T SEEM TO THINK SO, – WHO SIDE IS SHE ON? – IS SHE ILLUMINATI? POSTED 57 minutes AGO on her TWITTER PAGE
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” data-you-follow=”false” data-follows-you=”false” data-you-block=”false”>Carbon pricing can help mitigate the economic impact of climate change. Let’s do it now!
#COP21 http://ow.ly/V6Kit
Christine Lagarde https://twitter.com/Lagarde?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
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ON THE IMF SITE TODAY;
http://www.imf.org/external/pp/longres.aspx?id=4998&hootPostID=68c5e53429fae91d6faa23f815d8d5eb
The Managing Director’s Statement on the Role of the Fund in Addressing Climate Change
| Date: | November 25, 2015 |
| Electronic Access: | Full Text |
| Summary: The Fund has a role to play in helping its members address those challenges of climate change for which fiscal and macroeconomic policies are an important component of the appropriate policy response. The greenhouse gas mitigation pledges submitted by over 160 countries ahead of the pivotal Climate Conference in Paris in December represent an important step by the international community towards containing the extent of global warming.
Strategies for reducing emissions will reflect countries’ differing initial positions, political constraints and circumstances. Carbon pricing can, however, play a critical role in meeting in the most efficient and effective way the commitments that countries are now entering into; it can also raise substantial revenues that can be used to reduce other, more distorting taxes. Through its incentive effects, carbon pricing will also help mobilize private finance for mitigation activities and spur the innovation needed to address climate challenges. Finance ministries have a key role to play in promoting and implementing these policies and ensuring efficient use of the revenue raised. The process of climate change is set to have a significant economic impact on many countries, with a large number of lower income countries being particularly at risk. Macroeconomic policies in these countries will need to be calibrated to accommodate more frequent weather shocks, including by building policy space to respond to shocks; infrastructure will need to be upgraded to enhance economic resilience. It will be important that developing countries seeking to make these adaptations have access to sufficient financial support on generous terms. Financial markets will play an important role in helping economic agents and governments in coping with climate change-induced shocks. And heightened climate vulnerabilities and the structural adjustments associated with a shift towards a low-carbon economy over the medium-term will have important implications for financial institutions and financial stability. This paper identifies areas in which the Fund has a contribution to make in supporting its members deal with the macroeconomic challenges of climate change, consistent with national circumstances. It draws on materials contained in a forthcoming Staff Discussion Note (Farid et al. 2015) and has benefited from the discussions at informal Board meetings on IMF work on climate change held on September 30 and November 24, 2015.
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saintandrewstwinflame 