Pippa Malmgren, Economist At The World Government Summit 2022
— Wittgenstein (@backtolife_2022) March 30, 2022
She states her belief that the world financial system is about to switch accounting systems & digital money. Not decentralized cryptos, but centralized CBDCs (central bank digital currency) pic.twitter.com/yu7cTuGdh8
From Robert Wenzel back on November 21, 2011 (the dude was so ahead of everybody else):
Dr. Pippa Malmgren has just posted on her website her latest analysis of the eurozone crisis. I will point out, again, what I have pointed out in the past. They don't get more insider than Malmgren.
She served as financial market advisor in the White House and on the National Economic Council from 2001-2002, where she was responsible for financial market issues. She founded Malmgren and Company, in London, England in 2000 and was previously the Deputy Head of Global Strategy at UBS and the Chief Currency Strategist for Bankers Trust. She headed the Global Investment Management business for Bankers Trust in Asia. She has an M.Sc. and Ph.D. from the London School of Economics. She completed the Harvard Program on National Security. The World Economic Forum named Malmgren a Global Leader for Tomorrow, in 2000. She is also a member of the Council on Foreign Relations, Chatham House, the Economic Club of New York, and the Institute for International Strategic Security. She was the liaison between the Treasury and the President's Working Group on Financial Markets, aka, The Plunge Protection Team.Her client list is completely amazing. She is advising every elitist corporation on the globe. Take a look.
So what is she advising them? Here's part of her recent client letter (my emphasis):
All the options [surrounding the eurozone] are bad and costly. Market forces are increasingly determining what the options are and foreclosing on options policymakers thought they had. One option which is now under discussion involves permitting a country to temporarily leave the Euro, return to its native currency, devalue, commit to returning to the Euro at a better debt to GDP ratio, a better exchange rate and a better growth trajectory and yet not sacrifice its EU membership. I would like to say for the record that this is precisely the thought process that I expected to evolve,but when I proposed this possibility back in 2009, and again in September 2010, I had a 100% response from clients and others that this was “impossible” and many felt it was “ridiculous”. They may be right but this is the current state of the discussion. The Handelsblatt in Germany has reported this conversation, but wrongly assumes that the country that will exit is Germany. I think that Germany will have to exit if the Southern European states do not. Germany’s preference is to stay in the Euro and have the others drop out. The problem has been the Germans could not convince the others to walk away. But, now, market pressures are forcing someone to leave. Germany is pushing for that someone to be Italy. They hope that this would be a one off exception, not to be repeated by any other country. Obviously, though, if Italy leaves the Euro and reverts to Lira then the markets will immediately and forcefully attack Spain, Portugal and even whatever is left of the already savaged Greeks. These countries will not be able to compete against a devalued Greece or Italy when it come to tourism or even infrastructure. But, the principal target will be France. The three largest French banks have roughly 450 billion Euros of exposure to Italian debt. So, further sovereign defaults are certainly inevitable, but that is true under any scenario. Growth and austerity will not do the trick, as ZeroHedge rightly points out. Ultimately, I will not be at all surprised to see Europe’s banking system shut for days while the losses and payments issues are worked out. People forget that the term “bank holiday” was invented in the 1930’s when the banks were shut for exactly the same reason.(Thanks2JosephBerkery)
