by Rhoda Wilson, Expose News:
Dan Fournier has written an essay giving an overview of Canada’s new Prime Minister Mark Carney’s rise to power.
Carney has a background as a rich “elite” banker and globalist, with a history of questionable deeds and allegiances. And he has been actively involved in global climate initiatives, playing a key role in promoting climate-related financial disclosures. He launched initiatives such as the Glasgow Financial Alliance for Net Zero (“GFANZ”) to accelerate the transition to a net zero global economy.
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“Carney has been a very strong advocate of the net zero narrative from its very inception. As Co-Chair for the Glasgow Financial Alliance for Net Zero (“GFANZ”), he is at the head of its cultish crusade,” Dan Fournier writes.
Additionally, Carney has served as the United Nations’ special envoy for climate action and climate finance.
Carney has ties to the Rothschild and Rockefeller families. His involvement with these families and organisations, such as the Group of Thirty, suggests there will be a push for the globalist climate agenda that will benefit the elite at the expense of the middle class.
“Carney’s ties and obsequious subservience to global banking elites, headed by the secretive Bank for International Settlements, should leave little doubt as to the dire economic plight of Canada,” Fournier says.
By Dan Fournier
This 6,000-word essay is segmented as follows:
Table of Contents
Introduction
Mark Carney has long been seen as a rich elite banker and staunch globalist, receiving a fair amount of criticism over the years for his various deeds. Such rhetoric has certainly increased over the past few months as he’s become front and centre in Canadian politics.
While the average Canadian has a rudimentary perspective on Carney – including how he’s a savvy economist and former central bank governor, few are aware of his extensive list of questionable deeds, his true or underlying motivations, and louche allegiances.
This exposition will, therefore, attempt to fill the gap by revealing the obscure side of this enigmatic figure who has just become Canada’s 24th Prime Minister without even holding a seat as a Member of Parliament nor obtaining a single vote in a nationwide election.
Attending Harvard and Oxford and his Early days at Goldman Sachs
In 1984 at the age of 18, Mark Carney left his home base in Edmonton to attend Harvard University on a partial scholarship.
“He intended to study English literature and math[s]. But while attending lectures by the Canadian-born economist John Kenneth Galbraith, he found a new interest and eventually majored in economics, graduating with high honours,” states Julia Belluz from Reader’s Digest Canada.
John Kenneth Galbraith was one of the most widely read economists in the United States and was even an advisor to John F. Kennedy. Such a prominent figure would have undoubtedly left an indelible impression on the young Carney who was known around campus for being a bright and disciplined student.
But with elevated costs for Harvard, Carney needed to take time off to build up his tuition fund before returning and eventually graduating with high honours earning his bachelor’s degree in economics in 1988.
The high cost of his US education drove him to his first job as an analyst in the credit department for Goldman Sachs in 1989, progressively rising through the ranks in their London and Tokyo offices.
A few years later in 1991, the 26-year-old Carney pursued his post-graduate studies at the University of Oxford, earning his Masters at St. Peter’s College in 1993 and his doctorate from Nuffield College in 1995, both in economics.
It was at Oxford where Carney shaped his thinking on economic policy and where he also met and married his wife Diana Fox.
Cutting His Teeth at Goldman Sachs
Upon earning his PhD from Oxford in 1995, Carney returned to Goldman Sachs working in London, New York, Boston and eventually in Toronto.
He spent a total of 13 years at the investment banking firm, progressively holding more senior positions including co-head of sovereign risk (for Europe, Africa and the Middle East), Executive Director for emerging debt capital markets and Managing Director for investment banking.
Of particular note, Carney gained experience in assisting post-apartheid South Africa’s integration into international bonds.
He also reportedly played a role in the 1998 Russian financial crisis which saw the nation default on its debt and its Central Bank suffer a fierce devaluation of their currency, the ruble.
At the time, Goldman Sachs earned tens of millions in fees as it was advising Russia on managing its sovereign debt, helping it to issue $1.25 billion in bonds. Though the debt practically became worthless by August due to the default, the investment bank said that its losses were “absolutely minimal.”
That being said, it remains unclear what direct involvement Mark Carney may have had in those two dealings.
There’s little doubt that during his tenure at Goldman Sachs, Carney developed key relationships with other prominent bankers, financiers and other power players of high finance. Some of those figures and relationships will be referenced later in this post.
Governor of the Bank of Canada
Having left Goldman Sachs in 2003, Carney joined the Bank of Canada as Co-Deputy Governor alongside David Longworth. And in October of the following year, he was appointed as Senior Associate Deputy Minister of Finance.
On 4 October 2007, Carney was announced as the next Governor of the Bank of Canada.
During his five-year tenure as Governor for the Bank of Canada commencing in early 2008, Mark Carney oversaw monetary policy at the central bank which entailed a significant expansion in credit amidst a general lack of trust in the banking sector following the 2007-2008 Financial Crisis.
While he kept interest rates low to try to offset financial ills plaguing the Canadian economy, Carney also pursued unprecedented stimulus policies in addition to fostering a broader alignment with international banking outfits such as the International Monetary Fund (“IMF”), the World Bank, and the Bank for International Settlements (“BIS”).
It is largely with the latter, the BIS – the central bank of central banks – with whom Carney conspired to pursue monetary policies and green banking schemes which have led to and further exacerbated Canada’s financial predicament. Some of these, lesser-known, machinations will be further outlined and examined below.
