Letters, emails show Bank of Canada's Carney blasted by citizens for rate hikes: Are we ready to March On Ottawa yet?
Just caught this 39 minute old Canadian Press story on Yahoo News. Since the shadow government new world orderly editors can't reveal themselves too easily, lots of good people on the inside can do good jobs by saying they're just "doing their job" by filing Access to Information Requests even after Harper made it harder to do.
Here's an example of how Canadians know a bit about what's going on before it disappears in future versions of this story: Citing variable-rate mortgages, which generally increased in price on Sept. 8, one angry citizen wrote to the governor: "You have made your banking friends very happy with even higher record profits."
Another interesting tidbit is Bank of Canada head Mark Carney (another word for a carnival worker?) was at Goldman Sachs for 13 years before he took over the BoC as the youngest central bankster in the G8. He's a real go-getter and may have had practice squeezing Russia before settling into his new role in Communist Canada.
We're getting jacked either way with the global constriction in credit. It's important to not play along with all the crazy stories about how bad "debt" is and how "it" will sink the economy (wherever). Instead of just going along with the game of Monopoly collapsing, perhaps it's time to bring up those old dreams of monetary reform again.
Canadians are clearly mad and nothing gets people madder than messing with their money. So, it's a good time to channel that anger into an understanding of the big picture and efforts in the info war to help combat it. Lots of people know, but lots of people don't. We'll only get to the next stage of pushing for better policies if more do.
Global propaganda efforts are turning the "smart" thing for us to say into complex explanations of how and why we're all screwed. That's incredibly stupid. Of course, yes, being unable to pay back massive amounts of debt can lead to problems. But, if these banksters are so smart... why did they let countries get so heavily in debt?
IMF "shock doctrine" (Naomi Klein) tactics (like these) were planned a long time ago according to a former World Bank Chief Economist, Joseph Stiglitz. It was exposed years ago. The only issue is will enough people know it's all based on fraud and fiat money to support others pushing for better policies? The info war is the first step...
See the article in its entirety for posterity, plus-plus before they minus (mine-us?)...
Mark Carney on Wikipedia
Before joining the public service, Carney had a thirteen-year career with Goldman Sachs in its London, Tokyo, New York and Toronto offices. His progressively senior positions included co-head of sovereign risk; executive director, emerging debt capital markets; and managing director, investment banking. He worked on South Africa's post-apartheid venture into international bond markets, and was heavily involved in Goldman Sachs's work with the 1998 Russian financial crisis.
Goldman Sachs' role in the Russian crisis was criticized at the time because while the company was advising Russia it was simultaneously betting against the country's ability to repay its debt. Goldman's activities in Russia have been the subject of renewed discussion in the context of 2010 investigations of the company's bets against its clients' interests during the financial crisis of 2007–2010.
Money As Debt
A short animated Canadian film about how money is created by banks when we agree to borrow it and pay it back later. If we borrow $20,000, they create it on their balance sheets and start spending it. (45 mins)
America: Freedom to Fascism
The later producer of "The Rose" with Bette Midler and "Trading Places" with Eddie Murphy has made a very entertaining film about central banking, taxes and many other issues that affect all of us. (110 mins)
The Money Masters
While it's long, it's also fascinating to see the history of money and how it's worked in different cultures, plus who controls it today. Since we're in a recession, this can help us figure out what to do. (215 mins)
Committee On Montary Reform
The Trends Research Institute with Gerald Celente
The International Forecaster with Bob Chapman
Surviving The Cataclysm with Webster Tarpley
Institute for Study of Long Term Trends with Michael Hudson
Follow The Money with Max Keiser
Letters, emails show Carney blasted by citizens for rate hikes
By Dean Beeby | The Canadian Press
39 minutes ago
* Fat-cat bankers have been a perennial target for the scorn of ordinary citizens trying to make ends meet — and Canada's top banker is no exception. Internal documents suggest the governor of the Bank of Canada, Mark Carney, earns his fair share of invective whenever he bumps up interest rates. Carney is shown speaking during a news conference after the Bank of Canada released its quarterly Monetary Policy Report in Ottawa, Wednesday January 19, 2011. THE CANADIAN PRESS/Adrian Wyld Photo
OTTAWA - Fat-cat bankers have been a perennial target for the scorn of ordinary citizens trying to make ends meet — and Canada's top banker is no exception.
Internal documents suggest the governor of the Bank of Canada, Mark Carney, earns his fair share of invective whenever he bumps up interest rates.
Witness the surge in emails and letters that followed the central bank's most-recent decision to raise rates, even as Canada's economy was suffering from anemia.
"Your latest increase has added yet another six months to the duration of my mortgage," one correspondent hissed after the Sept. 8 hike. "Your advisers must be daft."
Said one small-business owner, with his caps-lock button on: "WHAT ARE YOU THINKING! You are obviously out of touch with how shaky the economy really is and the lack of profits and the number of marginal jobs and unemployed workers."
Copies of email and letter correspondence sent directly to Carney after the Sept. 8 hike were obtained by The Canadian Press under the Access to Information Act. All identifying information about the senders was removed under the law's privacy protections.
Last year, the central bank received about 4,300 emails and letters from citizens on a wide range of issues, from foreign exchange and Canada Savings Bonds to unclaimed bank balances and monetary policy. There were also about 9,600 telephone calls.
But only 395 emails and letters in 2010 were addressed directly to Carney, whose thankless job has been to help steer the economy through tempestuous seas for the last three years.
The number of missives is in stark contrast with the Prime Minister's Office, which receives more than two million pieces of correspondence each year — mostly email — on a wide range of topics.
A spokesman for the Bank of Canada says the relatively few citizens who write directly to the governor normally are prompted by public releases.
"Anecdotally ... speeches, interest rates, and major publications tend to generate correspondence and reaction from the public," Jeremy Harrison said in an interview.
The Sept. 8 announcement, that a key bank rate would rise by a quarter of a percentage point, triggered a typical flurry of angry words.
"Your economists are continuing to demonstrate a remarkable inability to grasp what is actually taking place in the Canadian and global economy," one citizen wrote on the day of the announcement.
"The only redeeming feature is that they are joined by the vast majority of their fellow alchemists around the globe. ...
"It's too bad your alchemists don't include the impoverished quality of life of ... our fellow Canadians in their models."
One citizen-critic, unhappy with the rate rise, was at least sympathetic to Carney's difficult responsibilities: "I do not want to be considered like the mother in law doing back seat driving; you are the boss of the bank and I admit that this is not an easy job."
Said another: "I am not a happy camper about the increase in the Bank of Canada rates. ... We can afford a little bit of a chance for some inflation, let people catch their breath, before increasing the rates."
A retired senior was motivated to write, by hand on foolscap paper, because he was contemplating taking out a loan to replace an old car.
"The bank's recent actions are not helpful," he complained. "Please convince me, how these bank actions of transferring dollars from us — to the C.I.B.C. (Canadian Imperial Bank of Commerce) benefits us."
Another correspondent called the interest-rate hike "this Mark Carney problem."
"This is wrong Mark Carney. There is no reason to increase Bank of Canada interest rates."
Citing variable-rate mortgages, which generally increased in price on Sept. 8, one angry citizen wrote to the governor: "You have made your banking friends very happy with even higher record profits.
"It's really too bad that the Bank of Canada represents the BANKS OF CANADA and not the 30 million people who live in this country."
One amateur economist said the rate hike was indefensible because "inflation is tame as a neutered sheep."
Carney's response to all of these critics was in the form of a template letter that referred to the bank's October monetary policy report.
Harrison was not able to provide a precise breakdown of the subject matter of all emails and letters to the central bank or governor.
But the 9,585 telephone calls to the bank last year were broken down as follows: exchange rates (3,118); general inquiries about the bank (2,351); other, such as opening hours (1,404); calls referred to other organizations (576); Government of Canada bonds (485); unclaimed bank balances (390); currency (352); data and statistics (109).
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