Mark Carney

BoE Governor Mark Carney Admits: Low rates may spark reckless borrowing, says he is ‘fully aware’ of the risks of the policy

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Bilderberger George Osborne appointed Mark Carney (Freemason, Goldman Sachs, Bilderberger) to be governor of the Bank of England.

H/t reader squodgy:

“Classic Poacher turned Gamekeeper.

Can you believe this man?

As a senior cog in the Bank that co-ordinated, mastered and milked the sub-prime debacle of lending money to unworthy risk borrowers, then fed off the QE process, he is now telling the lenders (while interest rates are still rock bottom) that they are lending too much…..

Unbelievable.”

– Low rates may spark reckless borrowing, admits Carney: Bank chief says he is ‘fully aware’ of the risks of the policy:

  • Bank of England Governor Mark Carney was speaking last night in London
  • Called low interest rates – 0.5 per cent since 2009 – a ‘tremendous burden’

Ultra low interest rates could damage the economy by encouraging excessive household borrowing, Mark Carney admitted last night.

The Governor of the Bank of England also said he is ‘fully aware’ the policy is not without considerable risks, putting ‘a  tremendous burden’ on the Bank as it battles to restore the economy to health.

Speaking at the Mais Lecture in the Cass Business School in London, Mr Carney warned: ‘An environment of relatively low and predictable interest rates could encourage excessive risk taking in financial markets and by households.

Read moreBoE Governor Mark Carney Admits: Low rates may spark reckless borrowing, says he is ‘fully aware’ of the risks of the policy

Mark Carney Defends The Bank of England: “We Are Not Robbing The Poor To Pay The Rich”

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– Mark Carney Defends The Bank of England: “We Are Not Robbing The Poor To Pay The Rich”:

In a speech delivered at the Liverpool John Moores University on Monday, Bank of England head, and former Goldman partner, Mark Carney defended his central bank’s near-zero borrowing costs which have been increasingly criticized by local politicians ever since the Brexit vote, claiming that central bank monetary policies have not been the cause behind wealth transfer.

Read moreMark Carney Defends The Bank of England: “We Are Not Robbing The Poor To Pay The Rich”

Exposed – How Two Janet Yellen Phone Calls Saved The World

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Full article here:

– Exposed – How Two Janet Yellen Phone Calls Saved The World:

Thanks to the just released February diary of Fed chief Yellen, we now know exactly when she called Bank of England Governor (and former Goldman Sachs employee) Marc Carney and ECB President (and former Goldman Sachs employee) Mario Draghi.

Can you guess when?

The answer:

…

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What Saudi Arabia Told The Bank Of England About Why Oil Crashed And Where It Is Headed Next

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– What Saudi Arabia Told The Bank Of England About Why Oil Crashed And Where It Is Headed Next (ZeroHedge, March 16, 2015):

…

“Ladies and gentlemen. A few weeks ago, in Riyadh, I was at a small, private function along with the British central bank governor, Mark Carney. Mr Carney asked me two questions. First, why did the oil price drop? And the second, where is the price heading? I will tell you today what I said to him then.”

– Ibrahim Al-Muhanna, Advisor to the Minister of Petroleum and Mineral Resources for Saudi Arabia

…

And now a special challenge for Zero Hedge readers: spot the number of lies uttered by the advisor in the text above. We exclude his repeat denials of the “conspiracy theories” – those don’t count.

The Monarchs Of Money: ‘These Guys Are Really More Powerful Than The Government’ (CBC The National – Video)

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YouTube Added: 29.04.2013

Commentary:

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
– Alan Greenspan

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
– John Maynard Keynes

Quantitative easing = printing money = creating money out of thin air = increasing the money supply = inflation = hidden tax on monetary assets = theft!

Please Welcome The UK To The Global Currency Wars

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– Please Welcome UK To The Global Currency Wars (ZeroHedge, Jan 23, 2013):

When it was announced in late November that Goldman’s Mark Carney would become head of the BOE (a “shocking” move only Zero Hedge predicted), we said that one has to be insane to be buying the GBP at those levels. Sure enough, it took just two short months before the implications of yet another Goldmanite’s pro-inflationary policies would become apparent. To wit:

  • KING SAYS BOE IS READY TO PROVIDE MORE STIMULUS IF NEEDED
  • KING SAYS QE WAS CRUCIAL IN AVOIDING U.K. DEPRESSION
  • KING SAYS U.K. BANKS SOME WAY FROM CONVINCING MARKETS ON SAFETY
  • KING SAYS POUND DROP WAS NEEDED FOR U.K. REBALANCING
  • KING: U.K. 4Q GDP ALMOST CERTAINLY CONSIDERABLY WEAKER THAN 3Q

And the punchline:

  • KING SAYS REBALANCING NEEDED TO AVOID CURRENCY WARS

In other words, please welcome the UK to the global currency wars.

Read morePlease Welcome The UK To The Global Currency Wars

Keiser Report: TINA’s Big Black Hole (Video)

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FT: ‘Wages Have To Be Slashed By 30-40% In the UK’


YouTube Added: 04.12.2012

Description:

In this episode, Max Keiser and Stacy Herbert investigate the black hole of debt sucking in our economies, jobs and wealth like strings of spaghetti past the economic event horizon. In the second half, Max Keiser talks to Ned Naylor-Leyland of Cheviot Asset Management about the fishy smoke signals blowing at the LBMA regarding silver contracts and about the debate between inflation, deflation, hyperinflation actually being a debate about the final denouement of paper currencies. Ned also reveals that BBC’s flagship programme, Panorama, had interviewed him and Andrew Maguire about silver manipulation and yet have never aired the episode.

Mark Carnage: A Look At The Mess Mark Carney Is Leaving Behind In Canada

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– Mark Carnage (ZeroHedge, Dec 1, 2012):

The greater story behind Mark Carney’s appointment to the Bank of England may be the completion of Goldman Sachs’ multi-tentacled takeover of the European regulatory and central banking system.

But let’s take a moment to look at the mess he is leaving behind in Canada, the home of moose, maple syrup, Jean Poutine and now colossal housing bubbles. George Osborne (who as I noted last month wants more big banks in Britain) might have recruited Carney on the basis of his “success” in Canada. But in reality he is just another Greenspan — a bubble-maker and reinflationist happy to pump the banking sector full of loose money and call it “prosperity” before the irrational exuberance runs dry, and the bubble inevitably bursts.

…

JPMorgan About To Take Over America, Again?

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Rothschild frontman, J. P. Morgan

– Is JPMorgan About To Take Over America, Again? (ZeroHedge, Nov 27, 2012):

Great and wondrous things seem to be afoot among the righteous bankers of the world. A few months ago Matt Zames was named to get JPMorgan’s CIO office out of trouble – and also happens to be the Chairman of the all-powerful Treasury Borrowing Advisory Committee. Just yesterday, Mark Carney completed Europe’s full-house of ex-Goldman Sachs alum running the region’s monetary policy. Today we hear Lloyd Blankfein will be sidling up to Obama tomorrow. And now this; from the never-crony-capitalist himself, billionaire Warren Buffett has publicly blessed Jamie “apart from the failure of control” Dimon as the best man for the top job at the Treasury. “If we did run into problems in markets, I think he would actually be the best person you could have in the job,” Buffett added (sounding more like the ‘we’ meant he) and dismissed the London-Whale “failure of control” with sometimes “people go off the reservation.” With Zames running the Shadow Treasury and Dimon running the Real Treasury, is it any wonder that inquiring minds are asking who really runs America (and for whom)? Of course, in the pre-Fed era – over 100 years ago, JPMorgan Sr. ‘bailed-out’ America before…

Goldman’s Global Domination Is Now Complete As Its Mark Carney Takes Over Bank Of England

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See also:

– The BBC Profiles Mark Carney, Uses Word “Goldman” Once (ZeroHedge, Nov 26, 2012):

It is truly amazing to what lengths the mainstream media will go to avoid talking about what really got Goldman’s former head of the Canadian Central Bank the role of Goldman’s current head of the Bank of England. But it could be worse: a word search for Goldman in the BBC’s just released profile of Mark Carney shows one instance of said word, and as a parenthetical at that. Hey, it could have been zero…

From the BBC

– Goldman’s Global Domination Is Now Complete As Its Mark Carney Takes Over Bank Of England (ZeroHedge, Nov 26 , 2012):

Back on July 3, we made an explicit and very simple prediction: “now that the natural succession path at the BOE has been terminally derailed, it brings up those two other gentlemen already brought up previously as potential future heads of the BOE, both of whom just happened to work, or still do, at… Goldman Sachs:  Canada’s Mark Carney or Goldman’s Jim O’Neil. Granted both have denied press speculation they will replace Mervyn King, but it’s not like it would be the first time a banker lied to anyone now, would it (and makes one wonder if this whole affair was not merely orchestrated by the Squid from the get go… but no, that would be a ‘conspiracy theory’.)”A few weeks later, in “On The Path To Global Goldmanation: Former Goldmanite Mark Carney To Head The BOE After All?” we added:

Read moreGoldman’s Global Domination Is Now Complete As Its Mark Carney Takes Over Bank Of England

On The Goldman Path To Complete World Domination: Mark Carney On His Way To Head The Bank Of England?

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– On The Goldman Path To Complete World Domination: Mark Carney On His Way To Head The Bank Of England? (ZeroHedge, April 17, 2012):

Back in November we penned “The Complete And Annotated Guide To The European Bank Run (Or The Final Phase Of Goldman’s World Domination Plan)” in which we described what the long-term reality of Europe, not that interrupted by the occasional transitory LTRO cash injection and other stop-gap central bank measure, would look like. And yet there was one piece missing: after Goldman unceremoniously set up its critical plants in Italy via Mario Monti and the ECB via Mario Draghi, one key target of Goldman domination was still missing. The place? Why the center of the entire modern infinitely rehypothecatable financial system of course: England, which may have 1,000x consolidated debt/GDP, but at least it can repledge any asset in perpetuity thus giving the world the impression it is solvent (no wonder AIG, MF Global, and now the CME are scrambling to operate out of there). Which is why we read with little surprise that none other than former Goldmanite, and current head of the Bank of Canada, is on his way to the final frontier: the Bank of England.

From the FT:

Read moreOn The Goldman Path To Complete World Domination: Mark Carney On His Way To Head The Bank Of England?