Will Mark Carney be a man of independent mind?

Chancellor George Osborne has made himself clear, and the new Bank of England governor may face an early test

Not much is likely to survive from Gordon Brown’s inglorious 10-year reign as chancellor of the exchequer, but one reform which he takes credit for – Bank of England independence – almost certainly will, at least in name if not in substance.

blastedyank: Will Mark Carney be of independent mind? Such silly questions you ask, Jeremy Warner.  I thought I would one-up you by asking if any man, bank, or government could remain independent of the tentacles of the Vampire Squid (Goldman Sachs), but you know, that would be a silly question as well.

tom197482: It all comes down to oil, though, doesn't it Jeremy? You can throw all the paper money around you want but it won't change the fact that growth since the war has been based on the promise of ever-cheaper oil. And if the oil price halved tomorrow, it would be boomtime again, wouldn't it? But it won't happen because nowadays China and India want it too. So the only solutions are to find cheaper energy supplies, invest in fuel-efficient technology or just live more modestly.

angermanagement: You live more modestly. But it does explain our mania for destabilising the middle.

pc249: These are the elitists’ who planned the current financial chaos in their drive to create a world government and world currency. They are the most evil people on the planet.   Attend if you can.   http://bilderberg2013.co.uk/

joelbanks: Mark Carney "of independent mind": independent of whom, of what?  He will not be independent of the loose money, lax credit, print money philosophy of the Bernanke/Yellen Fed.

nefti: Osborne needed someone willing to open the throttle of stimulus spending - a serious Keynesian. So he went and got him. Carney is here to do one thing - print money. The currency war is gathering pace - who can destroy their currency first?

pc249:     The collapse of the Gold price was orchestrated by Mark Carney at the BIS, a whistle-blower has revealed. The intention of the Illuminati (Red shields and Bilderberg) is to destroy our wealth in the drive to create a World Government (G20) and a World currency, the Yuan. Whist the price of Gold was massaged down by dumping paper gold into the market, there has been huge demand from China and Russia, which between them ,have purchased in excess of 9000 tonnes in 36 months.  There is massive buying by India and other Asian Countries. The Japanese are currently paying a premium of $500 an ounce to obtain Gold.   At G20 two years ago Mark Carney presented a plan, to seize our cash assets over the (UK) insured level of £85000, in the pretext that Banks are failing. The plan was accepted; hence Cyprus was the dry run for what is planned for the rest of us.   All cash assets (pensions, ETF’s etc) and probably privately held gold will be seized, almost certainly over a weekend, with a weeks’ bank holiday being declared thereafter.   The necessary UK legislation is currently being passed.   http://www.marketoracle.co.uk/Article39785.html   http://truthingold.blogspot.com/2013/04/the-frightening-truth-about-cyprus-bail.html   http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9970294/Helicopter-QE-will-never-be-reversed.html   http://bilderberg2013.co.uk/   The Argentinean default, which should have occurred three weeks ago, may be used as the catalyst for events.          

Lord_Rim: Mark Carney is a member of the Goldman Sachs gang. Nuff said. Whatever he does, you can be assured it won't be in the interests of the public.

malfleur: I imagine that he will be a man of Goldman Sachs' mind…

piecrust71: An Indepedent mind? Of course not. Carney's a Goldman Sachs / Rothschild stooge/groom of the stool. He'll do whatever his masters tell him. Keep your eyes on the gold price.

pc249:   Carney sits on several boards at the BIS.  As such he's there to make sure the central banks are protected from things like too high a gold price for instance.  A high gold price directly challenges the viability of worthless paper churned out by the ton on a daily basis.  Taxpayers are off the hook.   Future liquidity will be provided by the rich, that is to say anyone with more than 20 quid in their savings account.  Strategically Important Financial Institutions (SIFI's) will not be allowed to stop breathing, even if they are dead.  By 'strategic' he means anything that belongs to the Rothschild’s.  And if you've planned ahead and emptied your bank account, well, there's always that property you're sitting on - that must be worth quite a bit.  Carney, like other central bankers, will encounter a problem with the Chinese though.  Not much given to shouting and mouthing off to the press, nevertheless they must be getting a little more than p****d off with $85 billion per month to infinity rolling off the Fed's printing presses.   Expect unprecedented volatility and maybe a convenient war.   

DaveLDN: Mark Carney is a member of the "Group of 30" "The Group of Thirty was founded in 1978 by Geoffrey Bell at the initiative of the Rockefeller Foundation"http://thezog.wordpress.com/who-controls-the-group-of-thirty/ I don't think he has our interests at heart.

tom cudworth: Probably the best comment on here so far. Thank you for mentioning the BIS. Support the reinstatement of the Bradbury pound a debt free currency, based on the national credit.

DaveLDN: Well said, Tom. The Bradbury pound would solve our financial problems and remove our overlords from power. Do you watch the UK Column?

aadvark: The party has stopped for the private sector who are feeling the effects of the economic slow down. The public sector is still having the time of its life. Things for them have never been better, huge salaries and pensions that the private sector could only dream of, despite the fact that they pay for them. Government borrowing of £120 billion a year keeps the fun going. Carney will have to keep the printing presses going to keep funding the public sector largesse.  Let us make or children and grandchildren poor so that petty pen pushers in the public sector can have three once in a lifetime holidays each year.

Greybeard Chieftain: Are you actually kidding? The private services industry is still thriving and especially the one which, oh yeah, ACTUALLY AMASSED THE VAST PROPORTION OF PRIVATE DEBT IN THE FIRST PLACE?  Benefit payments only increased when private sector business was immobilised due to the freeze in credit. The lack of credit was due to the dissipation of capital and solvent assets within the banks due to excessive risk taking, over-zealous sale of loans to multiple consumers and multiple consumers paying for those loans by taking out loans with multiple mortgages on their property. Perhaps you can identify a common thread here…it's called private debt.  Government borrowing has absolutely nothing to do with the decrease in economic growth(unless of course if you refer to your preferred discredited pro-austerity essay by Rogoff and Reinhart). Austerity measures are a lie designed to try and preserve massive corporations from having to pay more tax and to flood the labour market with unemployed so that it is easier to maintain lower overall labour costs. Private businesses increasingly desire to intertwine themselves with the essential services we as consumers rely upon and hence, to ensure that when their risk taking, profit gaining activities cause them to become insolvent an bankrupt, they have to force the government to pay to bail them out(or face a massive loss to the public good) and then, add insult to injury by insisting that more essential public sector jobs must be cut 'for the good of the country'(oh and look at that, all of a sudden a market opens up for the corporations to occupy! How about that!) 

aadvark: I do not know what I would do without the vital public sector services, climate change managers, directors of diversity, crime management managers, directors of communications, communication directors, lesbian outreach coordinators, one hospital manager per bed, policemen on £192,000 per year, council clerks paid £220,000 etc etc. Yes your right essential services and good value!

realworlder: Greybeard, A nice cop of tea would do you the world of good. It would go well with the little blue pills.

angermanagement: Brilliant summary. Thanks.

misesdisciple: There's interest rate manipulation, there's printing money and there's outright fraud.