Behind the World’s Most Powerful Central Banker
Oct. 10, 2019 (EIRNS)—President Donald Trump is concentrating his fire on the wrong central banker. Clearly, the world’s most powerful chief in central banking is Mark Carney, the Governor of the Bank of England and would-be terminator of worldwide investment in fossil fuels and “carbon-based” technologies (such as human bodies).
• Early in his career, after a dozen years with Goldman Sachs, Carney for four years was Canada’s deputy finance minister and deputy governor of the Bank of Canada at the same time!
• Becoming Bank of Canada Governor in 2008, Carney quickly introduced the zero-interest-rate policy then copied by all major central banks in the world except that of China, and which Carney admitted—at Jackson Hole this past August—was a failure.
• Carney then became Bank of Canada Governor and chairman of the Financial Stability Board—and head of the BIS Committee on the Global Financial System, all at the same time.
• By 2012 he was also Coordinator of the World Economic Forum (Davos conference) and appointed the first non-Briton Governor of the Bank of England, leaving the Bank of Canada but retaining the FSB and BIS board chairmanships until late 2018.
• Carney pushed aside Bank of England senior financial expert Andrew Haldane to become its governor, and publicly attacked Haldane for supporting bank separation.
• In 2015, around the UN’s COP21 Conference and Paris Climate Agreement, Carney initiated the central banks’ Task Force on Climate-related Financial Disclosure (TCFD) under the Financial Stability Board, which is affiliated with the BIS, and made Michael Bloomberg chairman of it. This is the vehicle through which Carney said, at the UN Sept. 23, companies which take on “shades of green” will make profits and those which don’t will cease to exist.
• In his August 2019 Jackson Hole speech Carney presumed to get rid of the dollar as international reserve currency and replace it with a digital, global central bank currency—something no other central banker would have dared, or been crazy enough, to propose.
• He’s now head of the line to be IMF Managing Director.
But is there someone more powerful? At the same time Carney spoke, at COP21, about institutionalizing climate-related risk, his wife published a big report on the same subject. Diana Fox Carney wrote a 2015 report, updated in 2016, for the Institute for Public Policy Research, entitled “Known Unknowns: The Hidden Threats That Climate Risks Pose to British Prosperity,” with one Joss Garman (Greenpeace UK, Plane Stupid, European Climate Foundation-UK, The Syria Campaign formed to support the White Helmets). Nearly every section of this report is on some aspect of the “economic risks of climate change.” Diana Fox Carney is otherwise on the Council of Ambassadors of WWF-UK, board member of the Shell Foundation, and a trustee of the “sustainable energy foundation” Ashden, and of Friends of the Royal Society.
Politico, in an Oct. 24, 2018 article, quoted a person who has known Carney for a decade, saying “his wife’s powerful influence has shaped Carney’s thinking on the matter.”