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Goldman Now 3 Out Of 5 In World Monetary Domination: Goldmanite To Replace Andrew Sentance At Bank Of England

Tyler Durden's picture


The stealth (or not so stealth any more) take over of the world by Goldman Sachs continues. Following the withdrawal of Axel Weber from ECB contention, and his almost guaranteed replacement with one Goldman alumnus Mario Draghi, now Goldman is set to take over the trifecta of Central Banks (since another Goldmanite Bill Dudley already controls the New York Fed): the BBC reports that: "the new member of the Monetary Policy Committee (MPC) will be Ben
Broadbent, a senior economist at Goldman Sachs." Not at all surprisingly "he will replace the
leading proponent of rate rises, Andrew Sentance, when he leaves the
Bank of England's interest rate committee in May." We wonder what Goldman's "bent" on dovishness will be. Next up: Goldman just needs to plant its operative at the BOJ and the SNB and the company's global take over will be complete.

From BBC:

Mr Broadbent is a widely respected economist who spent some of his early career at the Treasury. In the past year or so, Goldman Sachs has tended to be more upbeat about the UK and global recovery than many in the city, and Mr Broadbent's own commentaries have been consistently supportive of the government's tough approach to the budget, arguing that the economic recovery was strong enough to withstand the effect of spending cuts. Only today, he and a colleague published a paper suggesting that households were less vulnerable to interest rate rises than generally thought.

Many will therefore expect Mr Broadbent to follow Mr Sentance in voting for higher interest rates when he joins the committee in June [TD: many will also be very surprised]. Three voted for a higher rates at the February metting, with 6 against. There is another meeting this week, but most do not expect the balance to change until April or May, if then. Mr Broadbent's first MPC meeting will be in June.

However, Broadbent has also stressed in the past that a weak pound would be crucial to offsetting the impact of spending cuts, by pushing up exports. The pound could strengthen if interest rates rise faster in the UK than in other countries. Today's Goldman Sachs analysis, which he co-authored, says only "the MPC is divided and there are respectable arguments both for, and against, higher rates. But the sensitivity of households' interest payments is not top of the list."

Critics will note that there are still no women on the nine person committee, which lost its only female member last summer. Officials say the post has gone to the stand-out candidate, whose reputation speaks for itself. They also say they received 27 applicants for the post, of whom only one was a woman.

More important, to some, than the gender imbalance will be the marked imbalance of outlook on the new MPC. When Mr Broadbent joins, all of the four external members of the MPC will have spent most of their career as macro-economists. In the past there has been a desire to mix in some micro-economists, or at least people, like Mr Sentance, with experience as industrial or business economists. Arguably, that is now a missing voice on the MPC. But neither that or the gender imbalance are likely to be resolved any ti

Conrgratulations to Broadbent, and congratulations to Goldman on their ongoing, and totally uncontested take over of the world.


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Mon, 03/07/2011 - 10:00 | Link to Comment AN0NYM0US
AN0NYM0US's picture

and JPMs Daley running the WH, even lowly Canada's bank governor is a GS alum

Mon, 03/07/2011 - 10:03 | Link to Comment Larry Darrell
Larry Darrell's picture

Yea, but we are just tin foil hat wearing crazies.  After all, there can't really be a group of people trying to create a one world currency.

Mon, 03/07/2011 - 10:18 | Link to Comment BigJim
BigJim's picture

I'm surprised China haven't decided they need a little GS 'wisdom' at their central bank.

Mon, 03/07/2011 - 10:04 | Link to Comment Corduroy
Corduroy's picture

But Merrill have a Prime minister in New zealand

John launched his investment banking career in New Zealand in the mid 80s. After 10 years in the New Zealand market he headed offshore, working in Singapore, London and Sydney for US investment banking giant Merrill Lynch. During that time he was in charge of a number of business units including global foreign exchange and European bond and derivative trading. In 1999 John was invited to join the Foreign Exchange Committee of the Federal Reserve Bank of NY and on two occasions undertook management studies at Harvard University in Boston.


Mon, 03/07/2011 - 10:09 | Link to Comment AN0NYM0US
AN0NYM0US's picture

this broadbent guy is a ringer for Tyler (conspiracy??)

Mon, 03/07/2011 - 10:33 | Link to Comment lynnybee
lynnybee's picture

Broadbent looks like CHARLIE SHEEN to me .

Mon, 03/07/2011 - 10:09 | Link to Comment Jewelsnorth
Jewelsnorth's picture

Canada's Central Bank is run by Carney, another Goldmanite.

Mon, 03/07/2011 - 13:20 | Link to Comment anarchitect
anarchitect's picture

Who recently stated that gold had no place in a revised international monetary system. A fucking wanker to follow in the steps of other fucking wankers who sold the entire Canadian gold reserve.

Mon, 03/07/2011 - 16:13 | Link to Comment Canaduh
Canaduh's picture

He was also largely responsible for selling USSRs public assets for pennies on the dollar to 'qualified' buyers when it collapsed.

Mon, 03/07/2011 - 19:16 | Link to Comment Broken_Trades
Broken_Trades's picture

Carney also played a pivotal role in the destruction of the income trusts in Canada - Then Goldman Sachs swooped in and made a killing and didn't have to pay taxes.  Coincidence???


Mon, 03/07/2011 - 10:09 | Link to Comment Racer
Racer's picture

And with petrol prices at record highs and food prices going the same direction, water, heating and other essentials soaring... yeah people are less sensitive to interest rate rises... they are numb from being constantly raped by banksters

Mon, 03/07/2011 - 10:11 | Link to Comment monopoly
monopoly's picture

What planet am I on. I just cannot believe what is happening to this world.

Mon, 03/07/2011 - 10:14 | Link to Comment Sudden Debt
Sudden Debt's picture

Don't worry number 540.036.095.051 , everything will be taken care off.

You can proceed with your daily tasks.




Mon, 03/07/2011 - 10:14 | Link to Comment John Law Lives
John Law Lives's picture

It is hard to believe.

Mon, 03/07/2011 - 10:14 | Link to Comment gwar5
gwar5's picture

The Mothership is spreading it's pods. Global banksterism is imminent.

Mon, 03/07/2011 - 10:15 | Link to Comment alien-IQ
alien-IQ's picture

"strange women lying in ponds distributing swords is no basis for a system of government."

Mon, 03/07/2011 - 10:51 | Link to Comment aheady
Mon, 03/07/2011 - 10:15 | Link to Comment squexx
squexx's picture

I look forward to someone flying an airplane thru their windows!

Mon, 03/07/2011 - 10:15 | Link to Comment Sudden Debt
Sudden Debt's picture

as your IP is being traced, we can only say:



Mon, 03/07/2011 - 10:30 | Link to Comment squexx
squexx's picture

So fucking what?!? I'm not even in the USA!

Mon, 03/07/2011 - 11:58 | Link to Comment AN0NYM0US
AN0NYM0US's picture
How the American no-fly list applies outside America


even as far away as Korea

A Korean Air flight to California was diverted to Japan after U.S. officials refused to let it enter American airspace because they suspected a passenger might be a terrorist, airline officials said Tuesday.

The man, a U.S. citizen of Pakistani descent, has the same name as that of a suspect on the U.S. government's no-fly list.



Mon, 03/07/2011 - 13:35 | Link to Comment oddjob
oddjob's picture

No more SARS and TB dew in the cabin air for you.

Mon, 03/07/2011 - 10:16 | Link to Comment svendthrift
svendthrift's picture

We shall surround our government with a whole world of economists.

Mon, 03/07/2011 - 10:16 | Link to Comment Franken_Stein
Franken_Stein's picture

Goldman Sucks !


Mon, 03/07/2011 - 10:19 | Link to Comment bania
bania's picture

I can just imagine Lloyd Blankfein starting his Monday morning with the troops...


Mon, 03/07/2011 - 10:21 | Link to Comment Dagny Taggart
Dagny Taggart's picture

they just thought we said goldman standard...

Mon, 03/07/2011 - 10:23 | Link to Comment Scottj88
Mon, 03/07/2011 - 10:24 | Link to Comment AN0NYM0US
AN0NYM0US's picture

Benny certainly is a fiscal hawk

excerpts from a recent paper he co-authored

The growth in budget deficits in OECD economies in the past two-and-a-half
years was an entirely appropriate response to an unprecedented crisis.


Although the appropriate timing will differ from country to country,
governments will have to tighten fiscal policy by much more than their existing
fiscal plans indicate.


That said, decisive expenditure-driven fiscal adjustments are politically
difficult to implement and tend to take place only following a change
government and/or once bond markets force the government’s hand.

Mon, 03/07/2011 - 10:25 | Link to Comment BigJim
BigJim's picture

Critics will note that there are still no women on the nine person committee, which lost its only female member last summer. Officials say the post has gone to the stand-out candidate, whose reputation speaks for itself. They also say they received 27 applicants for the post, of whom only one was a woman.

Yes, our lives would be sooooo much better if more of our CB puppets didn't have penises.

The penis: destroying economies on a planet near you.

Mon, 03/07/2011 - 10:23 | Link to Comment bania
bania's picture

"3 out of 5 central banks recommend Goldman to prevent currency decay"

Mon, 03/07/2011 - 10:25 | Link to Comment WALLST8MY8BALL
WALLST8MY8BALL's picture

I Pledge Allegiance to the Flag of The Goldman Corporation and to the Profits on which it stands, One Corporation Under Lloyd, with Slavery and BTFD for all.

Mon, 03/07/2011 - 10:34 | Link to Comment TomJoad
TomJoad's picture

Are those live rounds Leonard?

 7.62 millimeter. Full metal jacket.




Jump! YouFuckers!

Mon, 03/07/2011 - 10:34 | Link to Comment gordengeko
gordengeko's picture

Maybe Lloyd will be out Jamie Dimon for Time mag person of the year??  Or will Ben Blankenstankee win for a 2nd time?

Mon, 03/07/2011 - 10:51 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Global takeover or circling the wagons? 

Have you noticed the new CNBS ads defending capitalism? The latest replays a 1979 interview of Milton Friedman as Phil Donahue feeds him his line and asks him if he's ever had doubts about capitalism. The ensuing response is put to a sappy vaguely patriotic music background where you can almost predict every word. This is in addition to their "we're capitalism's unapologetic champion" ad. 

Put this together with raging protests in impoverished nations around the globe and you know they're beginning to sweat, fearing we'll go  back to the situation of the 1970s

Mon, 03/07/2011 - 12:25 | Link to Comment rayban
rayban's picture

Excellent comment. By the way, Mario Draghi spent some time with the Squid too. Not surprisingly he, an Italian (!) is the front-runner to lead the ECB after October. As far as I know, there are no other GS alumni available to replace JCT. Probably BTP spreads might trade well as long as the succession race is on...

Mon, 03/07/2011 - 14:20 | Link to Comment Redstone
Redstone's picture

The Goldmanites/Rothschilds control the message and now have operational control of much of the world’s commerce. It gets to a certain point that the injustices from this speech bondage and financial incest - which some call the Jewish Brotherhood - cannot be tolerated and it breaks.

It’s indefensible.

The key to this power has been UNLIMITED access to the fiat world reserve currency.

Mon, 03/07/2011 - 17:31 | Link to Comment Guy Fawkes Mulder
Guy Fawkes Mulder's picture

This shit pisses me off.

I'm done for the day.

I'll be out on a street corner, with an End is Here sign in my right hand and a bottle of intoxicating liquor in my left.

See you guys tomorrow.

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