Christine Lagarde, President of the European Central Bank (“ECB”), is expecting European legislation for the digital euro. According to her, the European Commission will propose legislation for establishing a digital euro in the near future.

“We are in the preparation phase and we are expecting European legislation,” she said in her New Year’s message.

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On the first day of the new year, Lagarde posted a video message announcing that the development of the European Union’s central bank digital currency (“CBDC”) – the digital euro – was in phase 2 and the ECB is “expecting legislation.”

“Another significant development on the horizon is our digital euro. We are in the preparation phase and we are expecting European legislation,” she said. “Once that is done, we will decide whether we move forward with developing a digital form of cash.”

Lagarde wished those who watched her video a “very, very great start to 2025.” Well, the ECB’s aspirations, as she described them, begin the year on a very, very bad note and in wishing Europeans well she is speaking with a forked tongue.  Take for example the two blatant lies Lagarde told in her message. 

Firstly, they would not be legislating for a digital euro if they were not intending to “move forward” with the agenda.  So, it’s not a case of deciding “whether” to move forward but rather the decision has already been made.

Secondly, CBDCs are not a “digital form of cash.”  They are tokens which can be programmed to be used only for certain items or services and to expire – much like a gift voucher system which retailers use.  Vouchers are for a specific amount to be used on specific items or in specific retailers and expire within a specified time; the retailer’s rules and conditions apply.  It is because of the programmable and centralised nature of CBDCs that they will be used to control who can buy or sell what, when and where; the central bank’s rules and conditions will apply.

Do You Trust Christine Lagarde?  If So, You Shouldn’t

Here are some other reasons why you should not trust Christine Lagarde and, by extension, the ECB that has chosen to employ her.

Convicted Criminal

Christine Lagarde, the former French finance minister and the head of the International Monetary Fund (“IMF”) (2011-2019), was convicted of criminal charges on 19 December 2016, for her role in a €400 million ($429 million; £340 million) government payout to businessman Bernard Tapie. The court found her guilty of negligence for failing to challenge the state arbitration payout, which was given to a friend of former French President Nicolas Sarkozy.

Despite the conviction, Lagarde was not given any sentence and will not face any punishment. The Court of Justice of the Republic, a special tribunal for ministers, could have sentenced her to up to one year in prison and a €13,000 fine. However, the ruling did not impose any penalties on her.

Read more: Christine Lagarde convicted: IMF head found guilty of criminal charges over massive government payout, Independent, 19 December 2016

Eugenicist and Depopulationist

Christine Lagarde, the then Director of the IMF, said “old people live too long” and this is a “risk for the global economy.”

Attempting to debunk the statement, in 2021 Chequeado, a “fact-checker” for Facebook in Argentina, claimed:

– “There are no written or audiovisual records that the statements attributed to the former IMF director are hers.”  Well, that’s easily sorted out by censoring and cleansing the internet of any incriminating evidence.

– “Furthermore, the European Central Bank assured that Lagarde had not said that phrase.”  Yes, well they would say that.

– “Part of the phrase attributed to the President of the European Central Bank (ECB) comes from a 2012 report by the International Monetary Fund (IMF) in whose presentation Lagarde was not present … In 2012, the IMF published the ‘Report on Global Financial Stability (GFSR)’, in which presentation Lagarde was not present. In that document, the IMF warned – in Chapter 4 – about the financial impact of longevity risk. ‘The financial implications of people living longer than expected (the so-called longevity risk) are very large’, the document says.” This is an interesting admission because according to the IMF’s report “longevity risk” is “the risk that actual life spans of individuals or whole populations will exceed expectations.” (See ‘Chapter 4: The Financial Impact of Longevity Risk’, page 3 of chapter 4 or, if you down the PDF of the report, page 137 of the PDF document.)

Contrary to the claims of Facebook’s “fact-checker,” Lagarde’s negative sentiments towards the elderly were confirmed in a 2018 memo from “the Coalition.”

The leaked memo, discovered in the waste basket of a high-ranking staffer in the European Commission, was sent to heads of state and finance ministers, urging them to address the issue of longevity as a risk to the global economy.  Heads of state that the memo was addressed to were “Angela, Teresa, Emmanuel …” presumably referring to Germany’s Angela Merkel, UK’s Theresa May and France’s Emmanuel Macron.

The memo, as published by Monthly Review, stated:

Here at the Coalition we were impressed by Christine’s bravery, saying publicly that old people “live too long” and those in charge of the global economy must do something about it, urgently. Recently, a photo of her, with potentially incendiary language from her speeches, has gone viral, without raising any resistance.

Since older people do vote more reliably, her implication that old people are “superfluous” and “expensive” would seem troubling for the stability of political elites. But since then, Christine has kept her job while continually stressing the same themes, so it’s clear that the Americans who dominate the International Monetary Fund feel it’s safe to sow doubt on the need for knee-jerk protection of old people’s interests. This they have demonstrated vividly many times since the 2016 election. At Davos everyone was repeating the message.

The Coalition welcomes this new moment for advancing our sensible coordinated agenda toward the superannuated, increasingly justified as all our budgets are swallowed up by entitlements, our streets and ICUs are clogged with old people, medical expenses for the senile are soaring, and adult children are burdened with costs and guilt.

The ‘Christine Lagarde Memo’: FOR YOUR EYES ONLY, from ‘the Coalition‘, Monthly Review, 9 October 2018

It is worthwhile reading the entire memo that was purportedly leaked.  Although there is no way of validating its authenticity, it is a real eye-opener if you want to understand the possible reasons for the assault on people who have outlived “expectations.”

Rather than basing decisions on someone’s age, might we suggest that it is people such as Lagarde and “the Coalition” that are the cause of longevity risk, that it is they who are clogging up our streets and are a burden to society, and that they have perhaps lived longer than “expectations”?

Further reading:

• Digital euro legislation planned for 2023. Lagarde confirms wholesale CBDC considered, Ledger Insights, 27 September 2022
• Christine Lagarde: Digital euro – a common European project, BIS, 8 November 2022 and Digital euro: a common European project, European Central Bank, 7 November 2022
• European Commission to soon propose legislation on a digital Euro, AMB Crypto, 8 November 2022
• Digital Euro at Least 2 Years Away, ECB’s Lagarde Says, Coin Desk, 26 September 2023
• Eurosystem proceeds to next phase of digital euro project, European Central Bank, 18 October 2023
• Christine Lagarde on European competitiveness, US tariffs, and creating a digital euro, Atlantic Council, 23 October 2024

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Rhoda Wilson

While previously it was a hobby culminating in writing articles for Wikipedia (until things made a drastic and undeniable turn in 2020) and a few books for private consumption, since March 2020 I have become a full-time researcher and writer in reaction to the global takeover that came into full view with the introduction of covid-19. For most of my life, I have tried to raise awareness that a small group of people planned to take over the world for their own benefit. There was no way I was going to sit back quietly and simply let them do it once they made their final move.

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