What's Mark Carney Up to? - A Perpetual Sequel

Today's Day-ring focuses on Bank of Canada (BoC) Governor Mark Carney.

Dear Mark serves two masters:

1) The Canadian voter/consumer/taxpayer as head of the regulatory body over money policy such as deciding how much fiat currency to create and the setting of interest rates.

2) Serves on the Board of The Bank For International Settlements (the BIS is a private world financial entity that operates without a publicly-stated mandate but has great influence in economic world affairs).

So the question is begged - who does he actually serve? The public (us Canadians) or the private sector (BIS)?

Today I propose you visit two sites:

1) www.rt.com - Keiser Report episode #226 - minute 14:00 and 20:50 - interview with Steve Keen by Host Max Keiser. Steve Keen hesitantly praises the Governor (/Representative for Private Banking interests?) for pointing out the Minsky Momemt we are in where debt creation is falling.

2) www.bankofcanada.ca and read Mark Carney's speech to The Empire Club of Canada Dec.12/2011 titled "Growth in the Era of De-leveraging".

The problem as I see it is Central Bank Policies are at the root of our current economic crisis but we are still allowing these regulators to fumble and stumble along like currency-drunks trying to get us out of it (both domestically and world wide).

So on the one side of his mouth Carney points out a truth about a debt economy (based on debt-money) that no other Central Bank is acknowledging - while on the other he is spouting tough (read "austerity) methodology.

Do you trust his debt-money solutions?

In an era where everyone's wealth is being stolen - Banks are reaping huge profits (large/medium and small busineeses are being decimated - wages are plummeting - retirement and fixed income accounts are being wiped out - good jobs are going the way of the do-do).

There is a scary situation that has begun in Europe - unelected Bankers are now running countries (e.g. Italy and Greece).

Did not Central Bank Policies - and especially thier debt-money creation - get us into this mess in the first place?

If so why should we believe they - these "ethical" Bankers - can get us out?

Or are Bankers only proposing how to save Banks?

Something's hinky if you ask me. Its only the "devil" that's in the details that I do not.

And most likely neither do most of you.

But just look around you. Look at your bank account - retirement fund - investment portfolio - paycheck - food/utilities/insurance and gasoline bills - or look at the Welfare or EI check because there are no good paying jobs to be had to make it worthwhile traveling and leaving your kids for someone else to raise (don't blame the small percentage of people who do not want to work - the lazy are still lazy - in good times and bad. And the group is always small percentage-wise).

Talk to your neightbour - friends - family - co-workers.

Again - you may not know the details either - but you know. I know you know. Just like I do - your gut is telling you!

So, Mark Carney - what art thou up to?

Because I'm not convinced it's for the good of the Canadian people.

Convince me now - in real time - not some future dream-time that you Bankers keep trying to sell us (in confusing Banker jargon [like its equally evil twin legalese]).

Thanks for the Minsky Moment that should never have arrived - because the system as it stands should never have been allowed.

Shame on you and the governmant that selected you so you could do - what? Double duty for our good fortune.

Yah, right.

A full explaination is warranted - good luck to all us Canadians waiting for that gift. When was the last time a banker called you and gave you a really good investment tip? Or to tell you savings accounts now give good interest returns? But they sure love you to sign up for those 10% (if you're lucky) to 23% credit card products (priceless).

Enjoy your Christmas as best you can. Give your families a big hug - from me and mine.

And thank god people are NOT accumulating more "bad" debt.

TerryMcDonaldWriterFromPortCredit/Editor Canadian Curator.