Rather than going to the trouble of reiterating what I've been telling a few of my friends abroad about Mr. Carney, I'm going to take the lazier route and simply copy and paste a comment I'd made recently to a great friend of this blog, Chartrambler... himself an Englishman who wanted the straight goods from a Canadian who knows Carney, on "what's this guy all about?".
I felt this was an opportune time to publish this particular post because as some of you know, BNN (the Business News Network) keeps an amazing video library to which they add videos on every segment of their programming day approximately 45 minutes after they have aired live in Canada. Mr. Carney was featured in one such interview that ended only moments ago. It's a relatively short segment but it will serve very nicely to let people see how Carney operates and what it is that makes him so personable. For one thing he's a straight up guy who does not present an arrogant persona in any way. He speaks to people with the good manners of a friend sitting across the coffee table.
At this point I briefly debated about whether I should place the video right here at the end of this sentence or at the bottom of the post. I opted to place it at the bottom of the post for what I think is a rather important reason. I'm hoping you will read my comment to Chartramber before you watch the video so that in the event you have already developed an innate hatred for Carney due to his Goldman connections (for which I normally would be right there shoulder to shoulder with you), I would only urge you to consider reading what I related to Chartrambler regarding what Canadians have experienced so far from Mr. Carney. He has been absolutely stellar for Canada and needless to say we sincerely hope he will serve England with the same degree of responsibility and superb helmsmanship. Make no mistake, the man is a powerhouse on a global level. And despite those who are already looking for cracks in the man's armor, pointing out that he was in charge of the BOC during the worst housing bubble of all time, he absolutely did save Canada from the madness of liar loans, etc. The types of loans permitted in Canada during those bubble years were nowhere near the same as the jaw-dropping nonsense that banks not only permitted in the USA, but encouraged.
"Hola Señor Banquero. Mi nombre es Pablo Pila de Dolor. We would like to take out a mortgage for about $492,000. I work flipping many hamburgers and I'm certain I have good job security because I've been at the same company for 14 weeks now. I earn $82,000 per year in that position." To which the banker replies: "Awesome. That's a truly impressive resume you have there Pablum. So let me see... you'd like to borrow $492,000 to go along with your own $6,000 in order to purchase this lovely home for $498,000. You're going to need to furnish that house too I'd think, so whataya say we just round the loan off to $600,000. That way you and the lovely Señora can take a relaxing vacation to some exotic country while you await possession date on your new digs. How does a beautiful vacation in Cancun sound to you? What? You were born there? Oh, then how does some other awesome South American destination sound? Like Italy! Does Italy sound good? You and the Missus can visit the pyramids and everything. Been there myself... loved it. Hahaha... oh never mind, it's none of my business what you do with your new money. Sign here. Have fun!"
What follows is what I reported to Chartrambler over a week ago. Please recognize that this comment took place as part of banter between two friends and is therefore not quite "article" material. I thought it prudent to edit a couple of the words. Here goes:
Carney is a whole incredible story by himself. I'm so painfully torn about what to think of him. He's a Canadian and as you know all Canadians are good :-) That's partly why they chose him... to promote the idea that a pristine banker coming to the rescue can only be a good thing. He has been called the "only respected central banker left in the world". And he 'is' very respected, which is partially what makes him so scarily powerful. He's such a confident individual, intimidated by absolutely nobody, that he's probably too formidable for pretty much anybody to tangle with. Jamie Dimon found that out the hard way when that arrogant
On the other hand, he's an incredible story. He came out of nowhere... born way up in the Northwest Territories. Seriously man, that is Eskimo country... literally. I mean Fort Smith is a little town out in the middle of a vast frozen wasteland 400 miles from the nearest tree. Both his parents were teachers. He and his brothers all ended up at Harvard which is where he no doubt met the ruling class. The women say he's good looking but I reserve judgement on that. I can say though that he's charming and very respected at home and abroad. He's scary smart. I'm talking "brilliant" when it comes to damned near everything, including maintaining a pristine public image and a very high degree of "likability" as opposed to the arrogance that banking pricks like Dimon and Paulson normally exude.
So in a nutshell Carney is attractive (according to some of the ladies of the world), clean, charming, brilliant and appears out of nowhere. Does that not fit the description of the anti-Christ? Yes it does. I don't want to believe it. I want to believe that Carney will shape up the Bank of England and drive all the serpents out. But wait... he's a Goldman guy, which is first and foremost.
When you get to see more of him over there you'll instantly recognize what I'm talking about. The guy is just so sharp, clean and likeable that you'll be impressed. The people in England are going to fall in love with this guy. That's what makes him potentially so dangerous. Is he good or is he evil? One thing I know for sure is that he completely protected Canada "from" Goldman which is partly why at the current time Canada is one of the only sparkling gems left out there. We know that won't last of course if the shit hits the fan but at least Carney has protected us from Goldiesatan so far. Can he do that for the whole world? Does he want to? Let's keep our fingers crossed but I realize... he's an ex-Goldman guy.
One final note... he used to be a goalie in hockey and if anybody can make a stick save it's a hockey goalie. I don't really like the implications of that.
If anyone might be interested in reading more commentary that was exchanged between myself and other persons curious about Mr. Carney, most of them occurred in the comments section on my last post which can be found here:
Here's the link to the Carney interview which aired in Canada about an ago (December 11, 2012). This is Carney as Canadians see him on a fairly regular basis.
Central banker - a parasite, who never actually creates anything of genuine value, merely re-distributes from one productive member of the lower classes..to 'other people.'
As for 'The people in England are going to fall in love with this guy', well, the average UK citizen wouldn't even be able to tell you the name of anyone who has headed the BoE. I suppose the ruling classes will come to 'love him', not least if he just carries on with the current 'print print print' mantra. After all, many are desperate to see wide asset-class price inflation, I'm sure Carney will deliver on that.
Its laughable of course that the English are now so weak minded, we have resorted to some foreign banker, hoping he will 'solve our problems'. We tried that ethos with our national football team, bringing in a Swedish guy.
That didn't work out so well. Carney won't be any better.
...and when inflation does return..it'll be time for that song....'Blame Canada'.
You're not even a real country...anyway ;)
Try to think 'positively'. ;-)ReplyDelete
If I was any more positive right now, I'd be buying SPY Jan' $150 calls.ReplyDelete
*the chatter of 'civil war' is out there this evening. Interesting.
For those who know their history...the road ahead..very predictable.
LOL... I didn't mean quite that positively.ReplyDelete
Yeah I heard Hoffa utter those words in his interview. I'd have to think that social mood is going to get uglier every week during all of Obama's term no matter which way the macro scene evolves. Because the masses are going to get irate no matter whether we get an inflationary explosion or the deflationary outcome. Another way to think of it I guess is that no matter which way the equities markets head over the next few years, the people are going to be pissed no matter what.
Yup, I'd say the road ahead is relatively clear on a few fronts at least.
I think I can say that generally speaking (ohh how I love to generalise), the equity market has NO relevence to the majority.ReplyDelete
After all, the majority of Americans don't work. They have NO savings, no stocks..nothing. I think the ''average' savings of a USA person is 7k, but thats a very biased average, and for most..they really have ..nothing.
To the masses, now a majority, what matters is the continuation of a giant government, one that will keep the sheep placated just enough..so as to not get rowdy.
I certainly agree that through Obama's second term, things will get more ugly. Whether its a second round of bank bailouts - when the next financial upset occurs, or whether the bond market implodes, leading to currency woes, and the fed having to print to da moon.
As I sometimes noted, I can't see why anyone would want to lead the US. In retrospect, I am sure Romney will be absolutely relieved he wasn't the winner, and I'd even dare say, he wouldn't deserve to get blamed as the man who saw the USA fragment.
The situation is no different in Europe, in fact..arguably worse..not least in the very poor southern EU states of Spain, Portugal, and Greece.
Romney was the winner.ReplyDelete
Buonas dias AmigoReplyDelete
You know I've been stalking your old friend AUDJPY for some time, and I have to say the more I look at this chart the more I fall in love with it, lol.
It's getting very ripe now, and has a few big things like about it
1. It's getting close to the invalidation level, so a high risk:reward for a long-term short here
2. the triangle for Y in the double zig-zag implies a bearish outcome. Those not familiar with EW may be looking at a big bullish continuation triangle - this would line up with the apparently 'record' short yen speculative longs on COT. So may be a whole bunch of peeps on the wrong side here if my analysis sticks and it goes off the cliff.
I'll be enjoying pizza in Rome & warm beer in smelly old UK this Christmas, so hope nothing blows up til Jan.
Hope you have a good un & we'll talk again in the new year.
Cheers DK. Does that mean we won't be seeing you anymore until you get booted out of England again? That happened to your great grandfather too didn't it? Don't get me wrong, I'm not disparaging the fine man. To the contrary, I'm in awe of the great horse thieves of days past who hailed from Ireland, Scotland and Wales and who, by virtue of their audacity to take back what was rightfully theirs to begin with, their horses, won a free ticket to the biggest and most beautifulest island nation on the planet. Some punishment that was eh?ReplyDelete
Thanks for the chart. I've posted it below too. Yeah, the Aussie/Yen is by far the most important pair from the aspect of being a loyal reporter on the appetite for risk. You might recall this chart that I'd posted somewhere on this blog a time or three in the past. It's the Aussie dollar as a standalone currency. To me it 'still' looks like it might want to go higher although that notion would directly oppose your view as stated above. You could absolutely be right though amigo... I'm just offering what's on my mind for now. I do agree with you though that as it stands this evening, looking at your chart it really does seem like the pair is likely headed lower. But what if that upper resistance line (of the trinagle) is breached?
With that idea in mind, just now I drew a pattern on the Aussie dollar chart that I've seen happen a thousand times or more. No, I think it's a million times or more... can't remember fur shure no more. But I wanted to show this pattern to you because the set-up is certainly there for it to happen. We're in the thrid thurd turd third quartile of the trioganal and since it's symmetrical, this possibility is open. Of course that doesn't mean it has to happen as I've drawed drewn drown penciled it. In fact it could even make the deke out to the downside and then blast off to da moon.
And then the final, and maybe most important consideration is that which you've touched on... the commitment of traitors. For the longest time I was under the misunderstanding that the Commitment of Traitors reports were in reference to members of the US congress, but I stand corrected.
In case we don't see you again for a while, I sincerely wish you the very merriest of Christmas' my friend. Take care.
Damn, Australia back in those days was like an alien planet. All the most dangerous insects and reptiles lived there! Still do, but it's no longer a jungle teeming with things that can kill you with one bite.ReplyDelete
From the standpoint of the cabal, they have all the money in the world, they are not in it to make a profit. They are here to bring a fear (true fear) environment at the right time. Possibly to distract us from things like meditation and egyptian pyramids, who knows...
I said this last time on QE3 day, game theory says that getting out pre announcement makes most sense, because everybody and their shoeshiner seems to be long QE4. I suppose I made a wrong hypothesis re: bernanke not instituting QE3, but damn we've been below QE3 bear-kill day for like 2 months.
Reduced efficacy might still be in play, and QE4 would last.... a week!
Most people on the planet who are close to the markets are probably asking themselves the same question: "What in hell is keeping this thing up?"ReplyDelete
And the only answer is "money, lots and lots of money that's coming from somewhere." As long as that money just keeps coming from out of nowhere the markets will just keep heading higher. How long can they keep this up? Hard to say since they've been doing it since March 9th, 2010.
On the social mood theme, the UK census results were released yesterday. Plenty of politically-correct noises made in the mainstream media about diversity and rich tapestries. Hope I'm wrong, but I just see it as a powderkeg: http://www.guardian.co.uk/commentisfree/2012/dec/11/census-diverging-into-diversity-editorial?CMP=twt_guReplyDelete
The saddest part of all is that the vast majority of viewers of the MSM buy into the 'diversity' and 'rich tapestries' spin. They fail to recognize that the presenters are just reading sound bites handed to them by those who dictate what the unwashed masses shall see and hear. The viewers don't comprehend what's happening right before their very eyes. And they won't until it's too late... until the "powderkeg" goes off. Because you're absolutely correct Tom... it >i>is a powderkeg. And deliberately so.ReplyDelete
Here's a cool chart from Gann360. My apologies if you've already seen itReplyDelete
If you look at the two low pivots on 12/19/11 and 6/4/12, the next significant highs occur on 12/27/11 & 6/19/12 respectively.
This is 175 calendar days.
Another 175 calendar days forward from 6/19/12 is yesterday.
Leads me to believe that the dip should be bought, because resonance is pointing upwards.
Hey DK bro what do you think of EUR/AUD?ReplyDelete
Looks ripe to me
not sure. the old 1-2, i-ii looking a bit shakyReplyDelete
...but I haven't been watching things very closely recently, and will be away until the new year.
hope you enjoy good holidays & go easy on the christmas pudding.
It's still dangerous dude.ReplyDelete
last week -12 year old boy taken by a 3-metre croc.
worst one is the blue-ringed octopus, which they don't tell you about in the guidebook. small thing, lives in rockpools, where the unwary tend to poke around and fossick.
if you see the octpus is blue it means it has discharged it's poison and you have 30 seconds to live. Really.
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