Christine Lagarde to lead the IMF

[Slimprofits]

The news was announced yesterday, but here is an article about her from a few months ago.

http://www.rte.ie/news/2011/0214/g20-business.html

Lagarde, speaking ahead of a G20 finance ministers meeting in Paris on Friday and Saturday, said the world had to move on from the 'non-monetary system' it now has to one 'based on several international currencies'.


Accordingly, France wants to see less need for countries, especially the emerging economies, to accumulate huge foreign reserves, she said.


At the same time, international capital flows should be better regulated and the role of the Special Drawing Rights issued by the International Monetary Fund should be reinforced by the inclusion of China's yuan in the system.

[yourfather]

Re: Christine Lagarde to lead the IMF

The issue is, if you switched to SDR from another large reserve currency, would you kill off the ability for countries to export deflation/inflation.

If you cannot, what is the point of it - other than the IMF getting more visibility over what exactly is going on in an economy and where money flows are going.

[brent217]

Re: Christine Lagarde to lead the IMF

The issue is, if you switched to SDR from another large reserve currency, would you kill off the ability for countries to export deflation/inflation.

If you cannot, what is the point of it - other than the IMF getting more visibility over what exactly is going on in an economy and where money flows are going.

But isn't that the point? If the IMF/World Bank/Fed (all the same people, even though the institutions are supposedly different) can track all the money flowing through an economy, it becomes much easier to lobby, er convince, government officials to institute good skimming policies; while at the same time stopping the population from undercutting austerity measures being forced upon them by outside influences.