Meet Mark Carney As Canadians Know Him

Goldman Sachs Golden Sax

As many of you know, a blockbuster announcement was made on Nov. 26th that governor of the Bank of Canada Mark Carney would be taking over as governor of the Bank of England on July 1, 2013... Mayan calendar apparently a non-issue inside the global banking circles.   This has to be one of the most incredible decisions in English banking history, considering that ever since that venerable bank was established in 1694 England has never relinquished that powerful seat to anyone but an Englishman.  That move raised a lot of questions, a lot of suspicions and as Zero Hedge loves to point out, it pretty much put the finishing touches on the fact that ex-Goldman Sachs monsters were at the helm of most, if not all, the central banks in the world.  So who is Mark Carney and what makes him so special?

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.

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"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!" 

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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:

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Thanks CR... glad you like the little diatribes that I post every once in a while.  Yeah, 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 basta prick buffoon attacked Carney for stating that global banking had to be totally reformed.  Dimon attacked and the stupid little punk took a one-punch knockout for his troubles.  But the fact of the matter is that Carney is an ex Goldman guy.  By that metric alone, and by default, that means that inside he's a satanic bastard who will just pull the banker wagon onward in history toward their ultimate goals.

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.

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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.

Hasta luego...