The chairs of a dozen European and global central banks responded to U.S. Federal Reserve Chairman Jerome Powell’s declaration of war on the U.S. President by declaring “full solidarity” in a joint letter on Tuesday.
Central bank bosses including key figures like The Bank of England’s Andrew Bailey and the European Central Bank’s anti-Trump chair Christine Lagarde [above, left] co-signed a letter praising the “integrity” of Federal Reserve chairman Jerome Powell after he broadcast a statement on Sunday, characterised as a “declaration of war” on the U.S. President, alleging lawfare.
Powell said he’d received a subpoena from Justice Department on Friday, and threats of criminal indictment regarding his testimony before the Senate Banking Committee last year. He claimed the inquiries into his taxpayer-funded renovations of Fed offices and his testimony were actually “pretexts” for political interference by President Donald Trump in monetary policy.
These claims have not been substantiated and President Trump denied knowledge of or involvement in the claimed legal developments. U.S. Attorney for the District of Columbia Jeanine Pirro responded to Powell’s allegations to say attempts to contact the Fed by the Attorney’s Office had been “ignored” and this necessitated the use of legal process.
She said this is “not a threat” and implied Powell had overexaggerated things, stating: “The word “indictment” has come out of Mr. Powell’s mouth, no one else’s. None of this would have happened if they had just responded to our outreach.”
Nevertheless, the European central bank bosses accepted Powell’s version of events at face value and rallied to his defence. In their letter, they stated “we stand in full solidarity” with “respected colleague” Powell, noting his “integrity” and “unwavering commitment”. They wrote: “The independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve.”
The Guardian called the letter an “unprecedented statement”. Beyond Lagarde and Bailey, also signing were the chairmen of the central banks of Sweden, Denmark, Switzerland, Norway, Australia, Canada, South Korea, Brazil, South Africa, as well as the Bank for International Settlements.
Christine Lagarde is a French lawyer who had previously been the French Finance Minister, the chief of the International Monetary Fund, and now is the chair of the European Central Bank. As previously reported of the key globalist:
[Lagarde] was found guilty of criminal negligence in 2016 over her behaviour while French finance minister which the court found allowed misappropriation of government funds, has been a persistent and powerful supporter of globalisation and an opponent of national sovereignty.
In 2016, Lagarde made an intervention in the Brexit debate just days before the British people went to the polls and ultimately delivered the largest democratic mandate in British history to leave the European Union, when she characterised the British as being narrow-minded. In interventions that Brexit campaigners said were deliberate interventions on the democratic process, the IMF which Lagarde led warned voting for Brexit would cause a recession, cost half a million jobs, reduce GDP, and collapse house prices.
The British government, too, predicted dire economic results if the country even voted to leave the European Union in a persistent campaign against independence then known as ‘project fear’. In stark contrast to the claims, the British economy has actually outperformed other leading European economies since the vote.
Lagarde has also been an unfailing ally to the mass migration lobby in her time at the IMF, even going so far to lecture the Spanish government on the importance of opening its borders to migrants to help balance the books. The advice to take millions of migrants was despite Spain already experiencing one-third youth unemployment, and the experience across Europe in the wake of the 2015 migrant crisis being of new arrivals being significantly less productive.
Read the full article here