Who Controls the Central Banks? Mark Carney, Governor of the … “Bank of Goldman Sachs”

goldman-sachs

In the event of a vote in favour of Brexit, The Governor of the Bank of England Dr. Mark Carney reassured the British public: “we will do everything in our power to discharge our responsibility to achieve monetary stability and financial stability…”

Carney intimated that “financial instability” and “poor economic outcomes” are associated with the Brexit process: a rather unsubtle message to investors, brokers as well as speculators. He also warned MPs that Brexit could lead to an exodus of banks and financial institutions from the City of London.

“[There is no] blanket assurance that there would not be issues in the short term with respect to financial stability and that potential reduction in financial stability could be associated – and normally would be associated – with poor economic outcomes, as we have seen in the past”.

The governor of the Bank of England Mark Carney (image right) is a former official of Goldman Sachs, the World’s foremost “institutional speculator”. He spent thirteen years with Goldman before heading the Bank of Canada.

carneyAt the time of his 2013 appointment to the Bank of England, he was not a citizen of the United Kingdom: Mark Carney was the first foreigner to occupy that position since the founding of the Governor and Company of the Bank of England in 1694.

Were there powerful interests involved in the recruitment of the Governor of the BoE? Who was behind Carney’s candidacy? At the time of his appointment, the issue of U.K. “sovereignty” and Carney’s citizenship were hushed up by the British media.

Brexit and Financial Instability

Carney was fully aware that an “authoritative statement” pertaining to “financial stability” would have an immediate impact on financial markets. On whose behalf was he acting when he made those statements?

Tory MP Jacob Rees-Mogg has accused Mark Carney, of “speculative statements”:

“It is speculative and beneath the dignity of the Bank of England. To be making speculative pro-EU comments.”

The Goldman Sachs Report

In February, Goldman Sachs warned that in the case of Brexit, the pound sterling “could lose 20 per cent of its value”  Mark Carney’s statements at the House of Commons not only point in the same direction, they also provide legitimacy and “credibility” to Goldman’s assessment.

As an institutional speculator, Goldman’s intent is to influence expectations regarding financial markets (backed by authoritative statements from the Bank of England).

Coinciding with Carney’s recent statements, Goldman Sachs released a report on the detrimental economic and financial impacts of Brexit:

“However, given the substantial unpredictability regarding the UK’s post-Brexit trading and regulatory arrangements, quite how damaging Brexit would be in the long term is subject to a great deal of uncertainty. Arguably of more immediate concern is the effect that the uncertainty itself would have on UK growth.

The EU Treaty sets out a two-year timeframe for departure. During this period, the UK government would have to negotiate the terms upon which it could continue to trade with EU countries…

Some of these trade negotiations and many of the regulatory/legal decisions would be relatively straightforward. But many would not. …

During this period, UK-based businesses would face considerable uncertainty: exporting companies would not know the terms on which they would be able to supply export markets abroad once Brexit is complete; importing companies would not know the terms on which they would be able to import; and all companies would be confronted with increased regulatory/legal uncertainty. (Excerpts of report)

Carney dismissed the claims of Goldman in early February. But now he supports them.

Where do Mark Carney’s statements originate, from the Bank of England or from Goldman Sachs, his former employer?

Goldman is known to be the World’s foremost “institutional speculator”. Foreknowledge of statements and decisions by central banks are often used by financial institutions in speculative operations. Inside knowledge and connections are part of this process, they are the “bread and butter” of the “institutional speculator”.

The important question which the British media has not addressed: what is the relationship between Mark Carney and Goldman Sachs.

The Goldman Trojan Horse

Is there a Trojan Horse within the Bank of England with Goldman Sachs sitting on the inside?

While Carney was appointed by Her Majesty, unofficially, he still has “links” to Goldman Sachs.

Is he in conflict of interest?

Next time there’s a financial meltdown, your money could be rescuing Goldman Sachs.

Yes, thanks to a new deal struck by Mark Carney, the former Goldman man now running the Bank of England, the US investment bank could end up enjoying the next round of British taxpayer bailout money. (The Independent, 20 August 2015)

Screen-Shot-2016-03-08-at-22.52.30Moreover, several key senior positions within the Bank of England are held by former Goldman officials. Mark Carney was appointed in 2013. The following year (2014), Dr. Ben Broadbent, a Senior Economist for Goldman Sachs was appointed Deputy Governor in charge of Monetary Policy.

Bankers from Goldman are strewn across key policy-making arenas across the world like no other financial institution.

As well as the Governor of the Bank of England, his deputy Ben Broadbent is ex Goldman, as were two previous Monetary Policy Committee members, David Walton and Sushil Wadhwani.

Across the Channel, European Central Bank chief Mario Draghi is a Goldman man, while in the US, Goldmanites make up a quarter of the Federal Reserve system’s regional presidents. (Ibid).

Concluding Remarks

Central Banks are complicit in the manipulation of financial markets including stock markets, commodities, gold and currency markets, not to mention the oil and energy markets which have been the object of a carefully engineered “pump and dump” speculative onslaught.

Who controls the central banks? Monetary policy does not serve the public interest.

The original source of this article is Global Research

Copyright © Prof Michel Chossudovsky, Global Research, 2016

Source

http://www.globalresearch.ca/mark-carney-governor-of-the-bank-of-goldman-sachs/5512969

5 thoughts on “Who Controls the Central Banks? Mark Carney, Governor of the … “Bank of Goldman Sachs”

  1. Mark Carney – my favorite little vegemite ……..
    He is a lot older than that pix above.
    Mark Carney alias Robin Hood …. but, has he doned the green tights yet
    Mark Carney robs the rich to give to the poor – the Daily Mail ran an article a 2-3 years ago “British economy has picked up – and is thriving” – this statement was based on robust consumer holiday spending – albeit – the British Banks had approved record applications for credit cards, just prior to the big spend up, by new credit card holders.
    Lending money to those who cannot afford to repay, was the exercise … but Mark dear – who will pay their credit card bill …. well the Bank of England thought of that – rob the rich to pay the credit card debt of the poor & inded they set up all manner of depositor fees to do just that
    You see, the rich Brit’s shop abroad.

  2. Did you know that Our Very Own Glen Stevens … of the Reserve Bank of Australia fame … flew over to The Motherland, Great Britain to interview for the job of … Govenor of the Bank of England, alas he lost out to … Mark Carney.

  3. The Sydney Morning Herald
    Business Day
    RBA boss is running for top British job
    Reserve Bank of Australia govenor Glen Stevens has emerged as a dark horse for the top job at the Bank of England.
    see – don’t ever let anyone tell you that we Australians cannot cut the mustard –
    TV news & there was Our Glen with his PA in tow, making their way to the VIP lounge …

  4. Our Mark says, “Brexit could lead to an exodus of banks & finacial institutions from the city of London.”
    ME:
    Well, in fact it will serve to reassure the foreign banks & financial institutions that they have a relatively safe place to hold up – the whole world knows that the EU is gone all bar the shouting & the banks & financial institutions want out or the EU ZONE before the have to close down.
    The economy of the European Union is a basket case – why do you think the EU have imposed strict austerity measures on ALL the EU member countries –
    Venture a guess …………….
    Because they are INSOLVENT AND BANKRUPT & THAT IS WHY THEY ARE DESPERATELY GRABBING EVERYTHING IN SIGHT …
    I read news from Europe – I have followed the Greek MESS since it’s inseption – it is all there – the EU Bosses are snatching anthing & everything they can IN DESPERATION …
    There is nothing like a rich man who does not want to pay his gambling debts & this is the Wealth of Europe the elit’s who have gambled & lost big & now they want to poor bastards of Europe to pay their debts –
    Ever thus hey !
    Mark Carney – is a pretty face & thinking is not his strong point.

  5. Australia’s ABC – The Business – presenter – Ticky Fullerton.
    If you have ever watched this show & I have, many times ( I like to keep abreast of global finance ) … how many distinguished guests talking true, on the ground, economics & they are so convincing that you must believe them – e.g. honored guests such as … Lord Muck & Sir Morbid, but to mention a few.
    And …You know how some people believe anything you tell them … no matter how rediculous … the ABC believe everything that their elite guests tell them – it never ocurres to anyone at the ABC that some of their guests could be telling porkies.
    NAIVETE:
    this is a song to celebrate the state of naivete –
    youtube – Perry Como – Hot Diggity Dog Ziggity Boom … please notice how attracive this man is … they don’t come as good looking today.

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