IMF's Christine Lagarde: "When The World Goes Downhill, We Thrive"

Tyler Durden's picture

When we wrote earlier that based on a leaked Wikileaks transcript, which the Greek government interpreted "as revealing an IMF effort to blackmail Athens with a possible credit event to force it to give in on pension cuts which it has rejected", the article promptly went viral. While it remains to be determined if the IMF indeed made such an implied threat, we attribute this spike in interest to the general public's surprise that the IMF could stoop to such a low, even by its own standards, level as to use a nation of 11 million people as a lab rat on which to conduct policy experiments.

But why the surprise?

As the below transcript from a April 2012 interview given by Lagarde to the Wharton school at UPenn, none other than IMF president Lagarde herself admitted that for the IMF to "thrive", the world has to "goes downhill", and that the IMF "to be sustainable" it needs to be "very in touch with our client base."

She added that "when the world goes well and we’ve had years of growth, as was the case back in 2006 and 2007, the IMF doesn’t do so well both financially and otherwise"

It goes without saying that Lagarde's sole prerogative as the managing director of the IMF is to make sure it "does well."

She concluded by saying that "we need to be able to invent and reinvent ourselves in many ways." One such client-facing "reinvention" just happened to be caught on tape.

Here is the key section:

Knowledge@Wharton: Of all the things that you do here, what are you most passionate about? What would you really like to make sure happens? It could be a small thing, it could be a large thing. What is it that really has your heart?


Lagarde: That’s complicated. I think it’s this issue of relevance … that is of real concern to me. You see, this is a very fascinating institution because it’s completely counter-cyclical. When the world around the IMF goes downhill, we thrive. We become extremely active because we lend money, we earn interest and charges and all the rest of it, and the institution does well. When the world goes well and we’ve had years of growth, as was the case back in 2006 and 2007, the IMF doesn’t do so well both financially and otherwise.


For this institution, which is a fascinating mix of almost all countries of the world with a single objective that should transcend all their respective individual policies and strategies, for it to be sustainable, we need to be very agile, very in touch with our membership, with our client base, if you will. We need to be able to invent and reinvent ourselves in many ways. So, as I was explaining about going from bilateral to multilateral surveillance, from a narrow focus to something that is more holistic, that is exactly what is at stake

h/t @rudyhavenstein

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skinwalker's picture

Why do the vast bulk of people allow such ugly creatures to rule them? 

junction's picture

Christine Lagarde is as crooked a politician/regulator as you will find, as she proved in the Bernard Tapie affair, when [as the head of a French government arbitration panel] she illegally approved of an award to Bernard Tapie of close to $450 million in 2008.  Lagarde is to stand criminal trial for her actions now, the award overturned but she still has her job as managing director at the IMF.



Stuck on Zero's picture

That picture was taken out of context.  She was describing her new Victoria's Secret bra.

Whoa Dammit's picture

The bitch makes sure she's got job security. The IMF is nothing but a payday lender ona global scale.

old naughty's picture

The "7" scarfe-ce speaks...

to justify her staff starting-and-fighting fire.

JRobby's picture

+10,000 Dammit!

Bury them alive because they stumbled into a ditch (stumbled because they were tripped up by Goldman et al.)

chubbyjjfong's picture

It is indeed one of my fantasies, and has been for quite some time, to engage in a passionate threesome with my Janet and Christine. It would be both an exhilarating and powerful experience.

Implied Violins's picture

I admit it would be entertaining watching them claw each other to death as they fight to get on top.

Miffed Microbiologist's picture

Personally after working trauma for 8 years I have enough disturbing imagery to last me for the rest of my life so I'd rather not add to the pile. The only upside to impending senility.


BaghdadBob's picture

Hey, Tyler's can you please change your Ad providers. Your JavaScript has been compromised badly. Getting constant page diverts to game websites again making ZH unusable. And no, this isn't an apple thing, it's happening on android as well. Thanks.

kenny500c's picture

My guess is they are happy to have a roof over their head and food on their plate so they don't want to rock the boat - so they vote for the incumbant.

Sudden Debt's picture

Because the guys that rigged our election systems and gave us our corrupt dictators report to them.

And they're send by god and all and their shit don't stink so yeah...

RaceToTheBottom's picture

Debt salesman: Purveyors of death.

They charge for risk, but never encounter any.

Chupacabra-322's picture

Spoken like a true Pure Evil Psychopath / Sociopath Scum Fuck. These Vermin used to operate in the Occult. Now, they're not even hiding it anymore.

"Confessions of an Economic Hitman." A must read for everyone.

Panic Mode's picture

Is she referring to the Paris attack?

i_call_you_my_base's picture

..."with a single objective that should transcend all their respective individual policies and strategies..."

Horseshit. The IMF is a front for the global banking elite and a tool for US foreign policy. An organization of modern subjugation and plunder.

EmmittFitzhume's picture

Jekyll Island called. They want their scumbag fucking bankers back.

Phillpots's picture

She has no credibility at all - period

Beowulf55's picture

I think she is to old to have a period.........


bada boom.....

GoldenGoosed's picture

That pic up there would make a great tshirt.

Yea she is just saying that so we can't short her shitshow ~ as soros armies need no competition .... To hedge against thier hell they got for entertainment.

Only bet one way as saddest can't afford less than their power hungry greed to deny others in order to be fair.

Son of Captain Nemo's picture

When you know you're very near the "finish line" to Armageddon and one of the four horsemen of the Apocalypse sticks her chin out and keeps speaking into the mic somebody stop me!!!

Said it somehwere before here today...


Cause if you can allow this kind of complaceny, disrespectfulness and impudence for the criminal conduct levied against you that will never cease unless you take matters into your own hands... 

It will be you with a "nail through your head" and not the "1%"!... 

walküre's picture

hoist her down from a heli into the "welcome starved" masses at Idomeni

Ms No's picture

Well, they have pretty much admitted to everything now.  So much for the assholes who thought they didn't intentionally coordinate destruction and suffering because they are too "incompetent" or there would just be "too much infighting".  There are very few unproven conspiracy theories these days.

I am going to go get drunk.  Later Bitchez.


Implied Violins's picture

Strange thing is, I think they are purposefully revealing how evil they are, so it makes it more likely we will buy into the 'solution' they give us: One World Bank. This shit show with all the central banks going rogue at the same time has a purpose.

Miffed Microbiologist's picture

Her comment is a topic of which I personally struggle. If I were to be honest, I also profit from the downfall of others. Also, due to the fact Americans are the unhealthiest group of people today, it looks like my services will be needed for a long time, technology being the only thing that could derail this.

The only thing I can think of in my defense it that I do want to help people and do my job well. However, in this " sickcare" climate I find myself, I sometimes feel it's hopeless and my role forever limited.

Guess it's time for a drink as well.


TheReplacement's picture

One suspects that you do nothing to induce the downfall of others.  Thus you are no more culpable than the average mortician (benefits from someone's death), dentist (benefits when people don't brush), or gas station owner (benefits when someone runs low on fuel).

On the other hand, if you live in a place like Ferguson you will be held accountable for the sins of others.

Life sucks and then you die.  The words that defined my generation - Gen X.

shovelhead's picture

IMF- Doing well by doing good.

venturen's picture

FN Die you wall street whore!

BendGuyhere's picture


Infield_Fly's picture
Infield_Fly (not verified) Apr 2, 2016 4:55 PM

When the world stops spending as a result of deflation, your story is bullshit - no one wants the debt you are selling.


Right Lagarde?  Ya wrinkled up stank cunt!!!!

Smegley Wanxalot's picture

Could be worse. We could all be forced to bang Lagarde.

robnume's picture

Conjuring BCCI. Remember them? Banks of crooks and criminals, international? Anyone who doesn't know that banksters and their ilk use blackmail, murder, etc., to keep themselves in power doesn't know shit all.

falak pema's picture

She pretends that the IMF is like the doctor : when the patient is ill he thrives as his skills are required.

But in reality the IMF has a special mission like the White Angel of Auschwitz; it is a hit man that extracts the teeth from the inmates once they have become gassed corpses under its loan sharking.

And then you hear the "White Angel" of IMF say like Szell : Is it safe, is it SAFE ?

Marathon Man and "yes, its safe !"

rahtidmon's picture
rahtidmon (not verified) falak pema Apr 2, 2016 5:48 PM

Yes, it's safe, it's so safe you would not believe it!


zerohedge25's picture

I just went to the "honest translation: site and translated it from Bullshiterian to plain English and here are the results:

You see, when we have chaos and mahem in economic markets, we can do all sorts of things with our banker friends to make us all rich that under normal circumstances would put us all in prison faster than you can say blow up Brussels. 

Our ability to facilitate mass terrorism via Islamic immigration, print money, debase currency and tax people for the "sin" of having savings in the bank causes a chaotic environment where we can rob the till while everyone is looking at the "diversions" such as a bunch of people getting killed and losing limbs at a train station. 
1,000 people went to prison during the S&L in the 80's and zero during the 2008 implosion/housing manipulation scandals, so we are really insulated from all of the chaos... Completely as a matter of fact. 

Negative interest rates are our next big goal, whether it is from creating inflation or actually physically stealing money from peoples accounts for the "priveledge" of parking it there. 

Like the old songs says: "The future is so bright I gotta wear shades." 


Boing_Snap's picture

To paraphrse: Let's see you have a debt problem Mr. Dumbass Finance minister, a problem that we created for you, I know lets solve it with more debt,.....hmmm, ya that's it. Oh, don't agree? Well we'll just threaten all the other indebted idiots that might trade with you it will mean econmic ruin for you both. Glad you could see it our way.

Now where do I note your new debt down in our ledger again? Excellent see you in 18 months.

consider me gone's picture

I'm pretty sure Satan maintains the same position. Go Team Satan!

GRDguy's picture

Isn't it nice that we fund these financial sociopaths with out taxes.

Wile-E-Coyote's picture

Fuck off you ugly French avoiding bitch..........I want to see the video where she goes down on Hilary.

valjoux7750's picture

Well thats a pretty damning statement there!  Especially when you consider the greece debacle!  These people need to hang, to bad the msm doesnt cover these stoties up so your average joe can see whats going on in the world.  

VWAndy's picture

Can her reflection been seen in a mirror? Just wondering if anyone checked?

rahtidmon's picture
rahtidmon (not verified) Apr 2, 2016 5:46 PM


lucky and good's picture

The IMF will not be doing so well if it all comes crshing down. The world might soon witness a major shift in the value of one investment over another as investor seek firmer ground. Derivatives, currencies, plunging stock prices, air rushing out of a bond market bubble, how debts are structured, and the timing or direction from which problems arise are all elements that must be considered. Several factors determine just how much influence can be applied to how current economic policies unfold.

Using the metaphor of "let the chips fall where they may," things like the size of the chips, the rate or speed at which they fall, and the number of chips in the air may make them uncontrollable. We could find ourselves up to our neck in chips in a blink of an eye, at that time all bets are off as to how successful efforts to stem a catastrophe might be. The financial overlords may be losing control and this means during the final stage of the global shakedown events will be chaotic and become very wild. More below on how violent the crash might be.


Sizzurp's picture

Another lawyer in charge.  When are we going to learn?

BiggestLoser's picture

Marie Antoinette was French.

pndr4495's picture

Her statement sounds arrogant and pedantic - maybe even Priapic.

Dre4dwolf's picture

IDK about the statement sounding pedantic or Priapic.

But it sure doesnt sound good.

Pretty much make it sound like these people cause problems in the world .... for profit.