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

By Prof Michel Chossudovsky, who publishes Global Research.

Bank of England Ignites Quantitative Inflation

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 Goldman Sachs official which is the World’s foremost “institutional speculator”. He spent thirteen years with Goldman before heading the Bank of Canada.

At 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)

Moreover, 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.

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  • Be ready to be blown out of your chair’s! Mar 25, 2015 Ted Cruz: First President of the North American Union?

    Monday marked the start of the Next News Network’s Selection 2016 coverage as Senator Ted Cruz made it official with these colorful words captured by ABC News while speaking at Liberty University. Ted Cruz says he believes in you… that is why he’s running… but should we believe in him? Just who is Ted Cruz?

    https://youtu.be/lNhp9H3yCsI

    Managing Director Mrs. Heidi Nelson Cruz Company Description: The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management firm that provides a range of services worldwide

    His money trails that of Ted Cruz, whose team has boasted of $19 million raised, thanks in part to the Texas senator’s wife, Heidi, a Goldman Sachs executive on leave, who has become a fundraising dynamo. Heidi Cruz is a campaign trail star — but she could end up being a liability Except for perhaps Bill Clinton, no candidate spouse in the 2016 presidential campaign has proved as productive and effective as Heidi Cruz. Heidi Cruz, the daughter of Seventh-day Adventist missionaries and Harvard Business School graduate, is a managing director at Goldman Sachs, on leave during her husband’s presidential campaign.

    http://www.zoominfo.com/p/Heidi-Cruz/483895701

    http://www.zoominfo.com/p/Ted-Cruz/-1913169087

    Timeline of the Progress Toward a North American Union

    Canadian, U.S., and Mexican elites, including CEOS and politicians, have a plan to create common North American policies and further integrate our economies.

    http://www.vivelecanada.ca/article/163939368-timeline-of-the-progress-toward-a-north-american-union

    http://www.vivelecanada.ca/search.php?q=North+American+Union

    • CJS

      Links don’t work for me. And is this a back handed prediction that the banking interest will prevail?

      • Links of information does not work for you? Is this a correct understanding of your comment’s?

        • CJS

          iPad in Philippines, it worked this time. No explanation.

  • Brockland A.T.

    How nice of Carney to sorta kinda threaten financial instability if the Brits don’t surrender their sovereignty.

    The hoser can deliver on that threat, too. Not that Carney wouldn’t anyway even if the Brits capitulated; its just easier to de-tooth the British bulldog after de-clawing it.

    http://thedailycoin.org/?p=55326

    http://www.acting-man.com/?p=28004

    http://thetyee.ca/Opinion/2015/09/03/Canada-Worrying-Economic-Trends/

    • Carl_Herman

      Thank you, Brockland. As the article concludes:

      “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.”

  • March 8, 2016 The Financial System Is A Larger Threat Than Terrorism

    In the 21st century Americans have been distracted by the hyper-expensive “war on terror.” Trillions of dollars have been added to the taxpayers’ burden and many billions of dollars in profits to the military/security complex in order to combat insignificant foreign “threats,” such as the Taliban, that remain undefeated after 15 years. All this time the financial system, working hand-in-hand with policy makers, has done more damage to Americans than terrorists could possibly inflict.

    http://www.paulcraigroberts.org/2016/03/08/the-financial-system-is-a-larger-threat-than-terrorism-paul-craig-roberts/

    • CJS

      Hi Lincoln. This is closer to what I am investigating. I worked on FERF (Fusion Energy Research Facility) in 1970 at LLL and I saw first hand US technological supremacy. Since I worked face to face with real Soviet scientist, I was able then to realized that the Cold War was more fake than real. And so the one world government idea is really the US and its influence without China and Russia. But this conspiracy thinking tin foil hat ideas interferes with understanding what will be. The world’s financial system seems to already have been taken over. Not going to be taken over. China and Russia comply with most US financial regulations. I guess it depends on what is considered taking over. But soon, no financial transaction will take place without notice. I am not making it up but understanding what is and will be happening is another matter. That is why the recent Bangladesh heist is so interesting. Criminal activity is necessary to not be noticed. The world economic system (except China and Rusia) is under the control artificially low interest rates to allow an expansion by debt. I do not want to pursue one world government, end times connecting of the dots. However, you seem to be well informed on the effort to connect the dots. The problem is that the central banks do not seem to know where they are going. So, it is not a conspiracy I investigating. But close.

      • Here ya go, because I already have had this for years. A surprisingly small number of corporations control massive global market shares. How many of the brands below do you use? It is a Small World at the Top, and the largest banks hold a total of $25.1 trillion dollars or enough to fund the federal U.S. government for over 7 years or roughly $3500 per person on earth.

        Here is the .01% list: Which Corporations Control the World?

        http://www.internationalbusinessguide.org/corporations/

        You should drop your childish, But this conspiracy thinking tin foil hat idea interferes with understanding what will be.