Lagarde Promises More Inflation as ECB Balance Sheet Reaches Record High

Speaking in the European Parliament Nov. 15, ECB President Christine Lagarde admitted that her judgment on inflation had been wrong, stating that “it will last more than originally thought” for inflation to stop rising. As she was speaking the ECB balance sheet had reached the record figure of €8.38 trillion. As NTV put it, the ECB under Lagarde has pumped €171 billion monthly into the financial system. That makes €5.7 billion every day, which is almost the entire figure World Food Program director David Beasley is insisting is needed to solve the food emergency worldwide. Instead, it creates poverty by inflating the stock market, the commodity bubble and consumer prices.