The chairman of the Hungarian central bank discovered a U.S. plot to topple the Orbán government

The independent media outlets have a jolly good time every time György Matolcsy, the chairman of Hungary’s Central Bank, opens his mouth. Well, he spoke again today. By now even usually polite politicians have gotten to the point that they openly say that Matolcsy is not quite of sound mind and suggest that the chairman of the National Bank seek medical help.

So what happened to prompt such a response? The bank chairman delivered his report to parliament on the performance of the Hungarian National Bank in the last two years. As expected, he said that the institution under his direction had performed superbly. Under his excellent stewardship the bank’s monetary strategy added at least 1.5 percentage points to Hungary’s already respectable economic growth.

Not too many members of parliament were interested in Matolcsy’s self-praise. Only four or five MPs, just those who had to attend, were sitting in the huge chamber. I must say that those who were absent missed a great performance and a by and large incoherent speech about “a very grave shadow, a very dark shadow, a deep grey shadow” that darkened the otherwise sparklingly sunny Hungarian sky. This shadow was a treacherous ally’s attempt to topple the Orbán government with the help—you won’t believe it—of Hungary’s National Bank. But thanks to Matolcsy’s vigilance, the coup was averted.

I believe that for readers to truly appreciate Matolcsy’s muddled, rambling speech I must translate the relevant passages:

Here we should stop for a minute because there was a shadow on the year 2015, right at the beginning, in the first four months. That shadow had been visible already from August 2014 on. In 2015 one brokerage firm after another went belly up. First it was the deceitful Buda-Cash, then the deceitful Hungária Insurance Company, and finally the even more deceitful Quaestor failed; it failed because the central bank with its new methods of investigation found all the tricks this company had used in the last 10-15 years.

However, this shadow was actually good tidings. It was a good piece of news, something the whole country can be happy about, because we cleansed the Hungarian financial system by removing these robber barons. . . . But this good news was overshadowed by the fact that a large country which is a NATO ally via its embassy in Budapest began activities aimed at toppling the government and the central bank in the fall of 2014. . . . The central bank naturally would have found the deceitful brokerage firms, but it mattered when we found them: in January, February, and March. Why did we find them in January, February, and March?

Because some people wanted to use the Hungarian National Bank to create a bank panic in Hungary in April. And this bank panic actually occurred. It lasted for four hours in four different cities. We could say that this isn’t much. But it was shocking that some people, our allies and friends, wanted to use the Hungarian National Bank to topple the government by methods using the military and intelligence services.

This is a very grave shadow, a very dark shadow, a deep grey shadow. It has no different shades: it is just dark.

The few people in the chamber were stunned. It was immediately clear to everybody that Matolcsy was talking about the United States.

This muddle is full of unanswered questions. In what way did the United States want to influence either the brokerage firms or the central bank? Why was the so-called coup timed for April? How did Matolcsy manage to foil the Americans’ plans?

Source: 444.hu

The opposition politicians who had gathered to engage in the usual parliamentary debate after such a report were stunned. They were simply not prepared for such astonishing nonsense and concentrated instead on refuting the glowing report presented to them by the chairman of the central bank. János Volner of Jobbik pointed out that the bank did nothing until Quaestor actually went under although it had been known ever since April 2010 that Quaestor was misleading its customers. LMP’s Erzsébet Schmuck also questioned the success story reported by Matolcsy and commented on the unorthodox way the central bank operates nowadays. It was only Attila Mesterházy who had recovered enough from the shock to question Matolcsy’s accusations against the United States. He even managed to inquire whether the bank chairman had reported his knowledge of a foreign power’s meddling in Hungary’s internal affairs to the competent authorities. He called on the appropriate politicians to convene the parliamentary committee on national security to ask the Hungarian intelligence services to clarify the situation.

Well, I have a few questions of my own. My very first one would be whether Matolcsy shared the information he received about this alleged American plot with Viktor Orbán. I suspect he did and that, for one reason or another, Orbán decided that the so-called revelation was useful at this time. I wouldn’t be surprised if Orbán, banking on Donald Trump’s extremely low opinion of his predecessor’s “democracy export,” thinks that this kind of news, coming from the chairman of the Hungarian National Bank, will float in Donald Trump’s Washington.

The U.S. Embassy rarely gets engaged in arguments with the Hungarian government, but Matolcsy’s accusation was too much even for the normally calm American diplomats in Budapest. Both Népszava and Index wanted to know the U.S. reaction to Matolcsy’s garbled nonsense. The Embassy spokesman, Richard Damstra, released the following statement: “Hungary and the United States are partners and NATO allies. The United States didn’t attempt to overthrow the Hungarian government either in 2014 or at any other time and we can’t find it credible that any other NATO member state would attempt such a move.” Perhaps this will convince the Hungarian government that American diplomacy, at least for the time being, hasn’t changed all that much and that even the Trump State Department, such as it is, won’t believe that the Obama administration was planning to stage a coup in Hungary.

February 23, 2017
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Guest

The best “constipation theory” I’ve read about so far this year – what is one supposed to say?
Is there a video of M speaking to the almost empty parliament?

Ferenc
Guest

Don’t know video, but here’s a picture (from 444!): comment image
from this article: https://444.hu/2017/02/22/uj-rekord-6-kepviselo-hallgatta-matolcsy-gyorgy-beszamolojat-a-parlamentben

Guest

A picture is worth more than a million forints – or a thousand words!
Hungarian members of parliament ain’t as stupid as I thought, they left before Big M started?
Hungary is really getting more like North Korea every day – will people ever wake up or just fade away?

Ferenc
Guest

I don’t know the parliament agenda from wednesday, but I suspect members didn’t leave, but just were not interested and didn’t show up for big M’s speech.

Reality Check
Guest

I think most Hungarians are awake, but many do not see a path to action. When they are presented with a path they take it, as we saw with the referendum.

Guest

Yes, but that was Budapest – people in the countryside are much more passive /resigned imho. Most of our neighbours have just given up and are trying to survive …

Member

Speaking of conspiracy theories: Hungary’s very own Madame Mao takes a whack at Momentum… in English. Make big think, folks.
https://444.hu/2017/02/23/orban-rahel-ertekelte-a-momentum-mozgalmat

Guest

Thanks, you made my day!
Almost fell off my chair laughing!

FreeWheeling
Guest

With such a butchering it makes me wonder about the validity of her MBA degree at that exclusive hospitality university in Switzerland as their coursework is in English or French. The people who go there for graduate degrees typically are the best of the best and have faultless English.

Ferenc
Guest

Since I’m closely following Hungarian matters since the ‘quota’ Referendum from last autumn, I not familiar with things prior to that. Occasionally hit something and dig up information from webarchives etc. What came to me, after reading about these 2014/2015 broker cases brought up by Matolcsy, is that in it’s timeline run paralel the happenings between Orban and Simicska resulting into the (in)famous G-day.
Could there be a deeper, than publically known, connection between these two?

PS1: The main item brought up by Matolcsy, a NATO-ally’s coup attempt, only shows he is completely unfit for his position. How can one trust his national bank to be chaired by a man coming up with such thoughts in parliament…..

bimbi
Guest

Hungary at the center of the (crazy) world. Sure looks like it.

But has anyone any clue what has happened to Budapest Beacon and the Budapest Sentinel???

Both web sites have been down for some days now. We need them both!

Ferenc
Guest

On Budapest Beacon’s facebook, was stated that the site is down for maintenance and will soon be back online
https://www.facebook.com/BudapestBeacon/posts/1631212456895321
About Sentinel no info, but as they are both simultaneous off-line, are there connections between the two?

Reality Check
Guest

The BB is still publishing articles on their FB page. http://www.pewresearch.org/fact-tank/2017/01/23/obama-executive-orders/

Reality Check
Guest

Sorry wrong link above – https://www.facebook.com/BudapestBeacon/

Ferenc
Guest

Another thing I noticed is that for almost two months now there are no new posts at “Orange Files”. Anybody knows anything behind that?

PS: may be here Hungarian Spectrum is doing the work so good, that others feel less need to publish their own stories and views……

Ferenc
Guest

OT
the wonders of current Hungarian health reforms:
LESS PATIENTS – LONGER WAITING TIMES
http://mno.hu/belfold/kevesebb-a-beteg-megis-nott-a-muteti-varakozasi-ido-1387410

Observer
Guest

Today TASZ (a human rights watchdog NGO) spoke about another great lie pushed by the regime – after the tripling of infection caused deaths in the Hungarian hospitals in 2011-2014 the ANTSZ (the National Health Inspection) reported that the number of infections/deaths has declined in 2015. While the absolute number of infections has declined, together with the number of recorded patients, the ratio of infections per patients was slightly WORSE. The ANTSZ practically refuses to release any meaningful statistics on the issue.
http://hirtv.hu/ahirtvhirei/a-korhazi-fertozesek-ellen-indit-kampanyt-a-tasz-1387085
Orbanistan, again.

bimbi
Guest

Ol’ Matolcsy György really must be a bit slow on the uptake. He discovers the Great Coup Plot in 2015 but does not announce the discovery (wanting to protect the Homeland from panic and disarray, I expect) now presented in Fifty Shades of Grey though. But he knows about „the even more deceitful” Quaestor’s dirty dealings back in 2010 and he doesn’t do anything then either but waits for his master to pull the plug on the outfit after he has rescued government funds unwisely „invested” by his government ministers. [It is called Insider Trading, folks.]

Meanwhile, Mr. Matolcsy has, apparently, added his ’comfort woman’ to the payroll of the Magyar National Bank at 2,000,000 HUF/month public expense and has added his own MNB private army as well.

Never mind the USA. The on-going danger in Magyarország is the on-going coup, the on-going rip-off, by the Orban-Matolcsy-Fidesz government of the people and its financial resources.

Guest

What? M’s lover only gets two million HUF for her job(s)?

These people are really unbelievable – my wife used again some Hungarian words that I can’t find in the dictionary …

But it seems the majority of Hungarians is just thinking: Why can’t it be me …
North Korea, here we come!

petofi
Guest

You’re quite right, Bimbi. There’s nothing in the machinations of the Great Matolcsy to offend the delicate sensibilities of good Hungarian Christians…with the exception of the thought that THEY are not the ones doing it!

Istvan
Guest

If György Matolcsy is worried about US plots against Hungary during the Obama administration, then he had better have his Strabismus or amblyopia corrected with Trump in power. If Trump’s grand plan to use Russia against China and the Islamic State falls apart and Putin become the enemy again big time things change for Orban. I am sure Orban in that situation would be targeted as the Trojan horse for Putin and the US National Security Council would really authorize a destabilization plan for Orban’s government. The CIA is very skilled at implementing a simple thing like a regime change, not so much so for promoting democratic values and practices around the world.

President Trump today reintegrated his position on an America first foreign policy at CPAC. It should also be noted that a group was waving Russian flags during his speech and they were ordered seized (see https://mobile.twitter.com/TimAlberta/status/835150326382604288?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet )

I do not see Trump hesitating to use any means necessary to implement that vision if things go wrong with Putin, which they likely will.

Istvan
Guest

Should be “reiterated” autocorrect and word anticipation software error.

wrfree
Guest

Re: ‘Matolcsy’s Magyarorszag

Simply another instance where stewards of money, government etc deflect responsibilities onto a created chump. The seemingly unhinged Mach: keeping Machiavellian Magyarorszag alive. Paranoia lives mightily.

petofi
Guest

With the actions of brain-addled men like Matolcsy, Orban, Trump and the like, humanity is just about ready for AI to take over.

Observer
Guest

We have known for years that Mcsi is unhinged, but this episode is wild. While the “fairy tale” and “spotty baby bottoms” made him a laughing stock these ravings have many serious implications (worlds in a normal country):
– What did the intelligence services do to fend off the alleged attacks? What did they report and to whom?
– What did the HNBank do? What did they report?
– Why didn’t our hero Mcsi report these threats to the police/services and to the respective parliamentary committees/ the parliament?
All of the above are core duties, the breach of which is a criminal offense deliberate.
If there were no conspiracy, attacks or valiant defenses then the chairman of the HNB is either a psychiatric case or a criminal.
Add the diplomatic and international political consequences for the country.

But… But, Mcsi is Orban’s “right hand” (in that coffer), remember, so what does this make his master and the regime then?
Orbanistan is my tip.

Nevertheless the democratic parties fields reports, requested reports and called for a parliamentary investigation. My tip is Mcsi will probably be resigned to another well paid sinecura, like P.Schmitt.

Observer
Guest

Sorry:

would have in a normal country…

democratic parties filed reports, …

Observer
Guest
In parallel with the Mcsi, probably spontaneous ravings, other surreal stories run their course: “Dagály” swimming complex. To add insult to injury, the regime’s narrative now is that the complex “was completed before time and within budget” – the latter an outrageous lie since: – The project started with Tamás Gyárfas, then Hun Sswimming Federation Chairman, talking about 8 billion, – then a contract was awarded for 47 + 7.6, – followed by a stage with 76 and – now the bill stands at 90 million Ft (and still counting I suspect). https://www.google.hu/search?q=dag%C3%A1ly+uszoda&ie=utf-8&oe=utf-8&client=firefox-b-ab&gfe_rd=cr&ei=hbewWL7VGumv8wfk1a-AAw Another utterly cynical or dumb admission came yesterday: when the respective commissar Balázs Fürjes was asked about the substitution of the the originally planned elaborate (and expensive to build) construction with a conventional “box”one, he casually said that the original model was just a bluff. While nobody in Hungary is surprised to hear brazen lies from the fiedszniks, such arrogance or stupidity isn’t displayed so often. Along the same line the price tag of the Puskas Stadium grew from 40 to 105 and now to 192 billion Ft. (and counting) which is almost 500% overrun. Not a worry for the orban mafia, because it ‘s there companies… Read more »
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