Christine Lagarde did a step down to run the wealth destructing ECB. so what can we expect from her? Will wealth destruction be over? Will the ECB take on the interests of the people living in the Eurozone? Will the ECB protect the purchasing power from the Euro?

Well, the answer is easy: no.

So what will La Garde do as the head of the ECB?

The interest rate will remain negative. So she will also demand that retirees and pensioners are paying.

She will also continue with the buying up of bonds. 20 Billion to be precise. By doing so she will keep rates artificial low.

So the ECB will kick the can down the road. The delay of the much needed structural reforms in Southern Europe will continue. The unsustainable situation in France will continue. As well as the protests of the yellow vests.

But what could we expect? The ECB is divided into the bone. The board is split. With Le Garde, the ECB has someone at the steering wheel who might be capable to solve the internal divisions. Divisions that could break up the Euro.

There are many concerns for the European economy. Germany flirts with a recession. France suffers massive youth unemployment. Italy is in a recession. Spain and Portugal are now doing great. Greece is bankrupted.

So it is clear that Europe is in big trouble. Did the asset purchases help the troubled financial sector? No, they didn’t help.

One of the destructive viewpoints of Le Garde is that she is against government budget surplusses. She thinks the money should be used to stimulate the economy. But we all know this is very destructive and not sustainable.

I’m not against the separation of power between central banks and politicians. Not that I’m supportive of central banks. But at least they have some brains. They have some vision. A vision that is destructive. But a vision is at least better than no vision.

It would be best for the ECB to recognize that future economic growth will not come from consumer spending. But this is, unfortunately not the case.

There comes a moment that the ball can’t be kicked down the road for any longer period. So then the much-needed reforms need to come. Including the return to real money. When will we do this Gold will explode, as well as Silver.

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