Bank of England – finale

Zgodnie z obietnicą – kilka ostatnich uwag nt. BoE:

During the governorship of Montagu Norman, from 1920–44, the Bank made deliberate efforts to move away from commercial banking and become a central bank. In 1946, shortly after the end of Norman’s tenure, the bank was nationalised by the Labour government.

Under Norman, the bank underwent significant change. In 1931 the United Kingdom permanently abandoned the gold standard, at which point the bank’s foreign exchange and gold reserves were transferred to the British Treasury. Norman was a close friend of the German Central Bank President Hjalmar Schacht, who was a supporter of Adolf Hitler and the Nazi Party, and served in Hitler’s government as President of the Reichsbank and Minister of Economics. As such, Schacht played a key role in implementing the policies attributed to Hitler. Norman was also so close to the Schacht family that he was godfather to one of Schacht’s grandchildren. Both were members of the Anglo-German Fellowship and the Bank for International Settlements… careful investigation by historian David Blaazer into the Bank of England’s internal memos has established that Norman knowingly authorized the transfer of Czech gold from Czechoslovakia’s No. 2 account with the Bank for International Settlements to the No. 17 account, which Norman was aware was managed by the German Reichsbank. Within ten days the money had been transferred to other accounts. In the fall of 1939, two months after the outbreak of World War II, Norman again supported transfers of Czech gold to Hitler’s Germany. On this occasion His Majesty’s Government intervened to block Norman’s initiative. He retired from the bank in 1944.

Following his retirement, he was raised to the peerage as Baron Norman, of St Clere in the County of Kent, on 13 October 1944.”

Bardzo intrygująca jest postać obecnego gubernatora BoE – Marka Carneya:

Carney attended St. Francis Xavier High School, Edmonton before studying at Harvard University. …Carney spent thirteen years with Goldman Sachs. He worked at the investment bank’s London, New York City, Tokyo, and Toronto offices. His progressively more 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 involved in Goldman’s work with the 1998 Russian financial crisis…

Carney returned to the Bank of Canada in November 2007 after his appointment as Governor, and served as advisor to retiring Governor David Dodge before formally assuming Dodge’s position on February 1, 2008. Carney was selected over Paul Jenkins, the Senior Deputy Governor, who had been considered the front-runner to succeed Dodge. Carney took on this role during the depths of the recent global financial crisis. At the time of his appointment, Carney was the youngest central bank governor among the G8 and G20 groups of nations…

Carney’s actions as Governor of the Bank of Canada are said to have played a major role in helping Canada avoid the worst impacts of the financial crisis that began in 2007. The epoch-making feature of his tenure as governor remains the decision to cut the overnight rate by 50 basis points in March 2008, only one month after his appointment. While the European Central Bank delivered a rate increase in July 2008, Carney anticipated the leveraged-loan crisis would trigger global contagion. When policy rates in Canada hit the effective lower-bound, the central bank combatted the crisis with the non-standard monetary tool: „conditional commitment” in April 2009 to hold the policy rate for at least one year, in a boost to domestic credit conditions and market confidence. Output and employment began to recover from mid-2009, in part thanks to monetary stimulus. The Canadian economy outperformed those of its G7 peers during the crisis, and Canada was the first G7 nation to have both its GDP and employment recover to pre-crisis levels… In October 2012, Carney was named „Central Bank Governor of the Year 2012” by the editors of Euromoney magazine.

On November 4, 2011, Carney was named Chairman of the Basel-based Financial Stability Board. In a statement, Carney credited his appointment to „the strong reputation of Canada’s financial system and the leading role that Canada has played in helping to develop many of the most important international reforms”… Carney served as Chairman of the Bank for International Settlements’ Committee on the Global Financial System from July 2010 until January 2012. Carney is a member of the Group of Thirty, an international body of leading financiers and academics, and of the Foundation Board of the World Economic Forum. Carney attended the annual meetings of the Bilderberg Group in 2011 and 2012.

On November 26, 2012, UK Chancellor of the Exchequer, George Osborne, announced the appointment of Carney as Governor of the Bank of England. He succeeded Sir Mervyn King on July 1, 2013. He is the first non-Briton to be appointed to the role since the Bank was established in 1694. The Bank of England was given additional powers from 2013, such as the ability to set bank capital requirements… Carney has warned multiple times that Brexit is expected to negatively influence the UK economy. Consequently, pro Brexit activists accused him of making pro-remain statements in the British EU-membership referendum. He replied that he felt it was his duty to speak up on such issues…

In addition to Canadian citizenship, Carney also holds UK citizenship and Irish citizenship.”

 

 

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