Analysts Stunned After Lagarde Demands "Key Role" For The ECB In Climate Change | WHAT REALLY HAPPENED

Analysts Stunned After Lagarde Demands "Key Role" For The ECB In Climate Change

Having failed miserably to "trickle down" stock market wealth for a decade as was their intention, something Ben Bernanke made clear in his Nov 4, 2010 WaPo op-ed, central banks have moved on to more noble causes.

Over the weekend Minneapolis Fed chair Neil Kashkari suggested it was time to allow central banks to directly decide how to redistribute wealth, stating unironically that "monetary policy can play the kind of redistributing role once thought to be the preserve of elected officials", apparently failing to realize that the Fed is not made up of elected officials but unelected academics and establishment pawns who serve the bidding of the Fed's commercial bank owners (in hopes of getting a job at Citadel once they quit).

However, in lieu of deciding who should be poor and who should be rich, central bankers are happy to settle with merely fixing the climate.

Overnight, Bank of Japan Governor Haruhiko Kuroda joined his European central banking peers by endorsing government plans to compile a fiscal spending package for disaster relief and measures to help the economy stave off heightening global risks. Kuroda said that natural disasters, such as the strong typhoon that struck Japan in October, may erode asset and collateral value, and the associated risk may pose a significant challenge for financial institutions, Kuroda said.

In short, it's time for central banks to target global warming climate change:

“Climate-related risk differs from other risks in that its relatively long-term impact means that the effects will last longer than other financial risks, and the impact is far less predictable,” he said. “It is therefore necessary to thoroughly investigate and analyse the impact of climate-related risk.”

Kuroda's crusade to tame climate came just hours after the ECB's new chief, Christine Lagarde pushed for climate change to be part of a strategic review of the European Central Bank’s purpose, "spearheading a global drive to make the environment an essential part of monetary policymaking.

Webmaster's Commentary: 

Forgive me, but has Christine Lagarde gone completely, stark-raving, barking-dog mad, to make these demands, in light of the absence of hard science proving global warming, so she wants central bankers to approach climate issues as a religion instead?!?

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