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Second Baby Squid Rumored To Be In The Running For Bank Of England Head

Tyler Durden's picture




 

Two weeks ago we reported the somewhat surprising news that according to the FT, current Bank of Canada head, and former co-head of sovereign risk at Goldman Sachs had been "informally" approached by the Bank of England to be Mervyn King's replacement when the latter's contract runs out in June 2013. Once the news broke, the tenuous arrangement to have a former-Goldmanite at virtually every single developed world central bank seemed to have hit a snag as both the Bank of Canada and Carney himself were forced to deny that any interest by the BOE had been expressed. Of course, what was missing from the public discourse is that this was likely one of those "reverse inquiry" type of career moves, whereby the candidate himself, or rather the employing firm - in this case Goldman Sachs, makes the decision whether or not the candidate would be suitable to head the Goldman subsidiary known as the Bank of England. Which is why it is with even less surprise that we now learn that it is none other than the firm's most permabullish strategist Jim O'Neill, who after coining the globalist wet-dream term "BRIC" was sent in exile to chair the firm's worst performing division, GS Asset Management, that is rumored to be the latest replacement for Mervyn King.

From the Sunday Times via BusinessWeek:

Jim O’Neill, chairman of Goldman Sachs Asset Management, is a candidate for governor of the Bank of England, the Sunday Times reported, without saying where it got the information.

 

O’Neill, who previously led a bid for English soccer club Manchester United, has been approached as a possible replacement for Mervyn King when he steps down from the role in June 2013, the London-based newspaper said.

Of course, at the end of the day, whether it is Carney, O'Neill, Fabrice Tourre, or Thomas Stolper is irrelevant. What is relevant is that Goldman's bloodthirsty tentacles appear to have gripped onto the top position at the BOE and just won't let go. Which is only logical: recall our graphic which showed how Europe would look with Carney at the BOE helm.

Indeed, very little would need to be replaced to show that whether Carney or O'Neill, the only thing that changes is the portrait at the top, even as Europe still remains a crimson red.

The only question is: why the sudden vampire squid fascination with taking over the last financial bastion of infinite rehypothecated leverage? Actually, on second thought, forget it - we just answered our own question.

 

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Sun, 04/29/2012 - 06:46 | 2383371 BattlegroundEur...
BattlegroundEurope2011's picture

Need to Hang the BASTARDS ASAP

 

Sun, 04/29/2012 - 07:32 | 2383402 sabra1
sabra1's picture

i love the sound of lamppost windchimes!

Sun, 04/29/2012 - 07:52 | 2383412 Dugald
Dugald's picture

How can you love something you have never heard? Pillock!

Sun, 04/29/2012 - 10:24 | 2383531 Pinto Currency
Pinto Currency's picture

-

 

With this eagerness for a foreign replacement BOE Governor, there must be a BOE & LBMA gold audit coming.

Patsy Governor's have their important roles.

Suggest Lee Harvey King stay for one more term until everything is resolved.

Sun, 04/29/2012 - 10:38 | 2383545 Chaffinch
Chaffinch's picture

Please forgive me for being slow - you probably all know this - but I have only just discovered that Jeff Christian is yet another ex- Goldmanite - which goes a long way to explaining why he seems to so despise the stuff he 'analyses'.

Sun, 04/29/2012 - 12:10 | 2383617 Pinto Currency
Pinto Currency's picture

 

 

The UK newspaper The Independent has taken down this article but a number of blogspots still post it:

"Ex-Governor George says Bank deliberately fuelled consumer boom" - Link:

http://notasheepmaybeagoat.blogspot.ca/2010/03/ex-governor-george-says-bank.html

These guys all knew what they were doing.  More like Mervyn Manson than Lee Harvey King - bad analogy.

Mervyn King, Edward (Eddie) George, etc. were all there and all knew what they were doing.

http://en.wikipedia.org/wiki/Group_of_Thirty

http://en.wikipedia.org/wiki/Mervyn_King_%28economist%29

A patsy Governor for the BOE is needed now but no responses to the classified ads for the position yet.

Carney ran for the door.

For posterity, here is an excerpt from the vanished Independent article circa March 21, 2007:

... 'The Bank of England deliberately stoked the consumer boom that has led to record house prices and personal debt in order to avert a recession, the former Bank Governor Eddie George admitted yesterday.

Lord George said he and his colleagues on the Monetary Policy Committee "did not have much of a choice" as they battled to prevent the UK being dragged into a worldwide economic slump by slashing interest rates. And he said his legacy to the current MPC was to "sort out" the problems he had caused."...

 

http://en.wikipedia.org/wiki/Edward_George

Sun, 04/29/2012 - 17:05 | 2383892 Sandmann
Sandmann's picture

That is so bloody obvious it does not need mentioning. The Y2K scam led to Greenspan creating a liquidity boom that turned into Dot.Com mania  - the BUst left Banks exposed so Greenspan and the Bof E deliberately used Housing Finance to rebuilt Bank Balance Sheets using secured lending. The whole period since 1998 has been injecting ever more liquidity into Banking to save it from collapse

Sun, 04/29/2012 - 10:39 | 2383547 Silver Bug
Silver Bug's picture

Beware the squid, trust nothing they say!

 

http://ericsprott.blogspot.ca/

Sun, 04/29/2012 - 06:50 | 2383375 zippy_uk
zippy_uk's picture

Got Goldman on the CV ? Then FUCK OFF - we don't want/need you. Such Jobs should go to midsize firm candidates only. Its not like any of these guys/girls are actually "good" at getting "results" or anything.

SIGNED - the 99% 

Sun, 04/29/2012 - 07:03 | 2383381 EconSammie
EconSammie's picture

It isn't all hopeless as the UK does at least have one independent candidate for the role as illustrated below.

The role of Governor of the Bank of England

 

It was suggested in the comments section on Wednesday that I should apply to fill the upcoming vacancy in the above role. I contacted the Treasury Select Committee yesterday afternoon and they have replied very promptly and here is their reply explaining the situation.

 

http://www.parliament.uk/documents/commons-committees/treasury/ChtoChxBoEGov.pdf

 

http://www.mindfulmoney.co.uk/wp/shaun-richards/spain-has-a-misery-index-that-has-risen-to-26-44-as-both-unemployment-and-inflation-have-risen/#disqus_thread

 

Sun, 04/29/2012 - 07:17 | 2383392 Old_European
Old_European's picture

Would anyone care to take K. Van Miert out of that picture? The guy's been dead since 2009. Given the fact that he was a social-democrat, chances are he was manipulated by the squid.

Sun, 04/29/2012 - 07:42 | 2383407 Bubble
Bubble's picture

That the British public has no say whatsoever in who the most powerful man in the country is says it all.

I assume whoever it is will already know the correct handshake for his subordinates. http://www.youtube.com/watch?v=u-qX9ERql50&feature=youtube_gdata_player

Sun, 04/29/2012 - 08:04 | 2383422 Motorhead
Motorhead's picture

Yep. We in the US of A can relate.

Sun, 04/29/2012 - 08:21 | 2383434 GMadScientist
GMadScientist's picture

The Brit public knowingly accepts a vestigial monarchy...whipped doesn't even begin to cover it.

Bring back Wat Tyler!

 

Sun, 04/29/2012 - 10:42 | 2383550 Chaffinch
Chaffinch's picture

"Bring back What, Tyler?" - I can't help myself - there's a great Abbott & Costello routine to be worked up there!
; )

Sun, 04/29/2012 - 08:20 | 2383432 GMadScientist
GMadScientist's picture

And you thought all that "tanning in the English rain" was for naught.

 

Sun, 04/29/2012 - 08:20 | 2383433 fiddy pence haf...
fiddy pence haff pound's picture

This is perfect. If you want to make the Bank of England vulnerable, put a colonial

at the helm. They'll be making fun of him from John O'groats (or whatever) to Land's End.

In the bank boardrooms where he's supposed to have respect, because the Gov covers their

shitty asses, he'll be a laughing stock.

 

"That's a lot of debt, eh?"

 

The Brits get pretty ethnocentric when a colonial scoops one of their big posts.

This will be the crack in the dam we've been waiting for.

Just don't tell anybody. Let it happen.

Shhh. shut up and don't talk.

 

BTW- this is another example of the Squid-trix. A universe created by and for the 

Vampire Squid. big up to Matt Taibbi.

Sun, 04/29/2012 - 08:22 | 2383437 GMadScientist
GMadScientist's picture

They don't even like losing at darts to a Scot.

Sun, 04/29/2012 - 08:22 | 2383435 LongSoupLine
LongSoupLine's picture

With as hated as Goldman is to the general "jersey shore watching" public, how can we get these charts and info to go viral?

Sun, 04/29/2012 - 08:24 | 2383438 GMadScientist
GMadScientist's picture

Trying to enlist Snookie in a bank run?

 

Sun, 04/29/2012 - 09:26 | 2383478 Sudden Debt
Sudden Debt's picture

ASK CHARLIE ASK CHARLIE!!!
http://www.youtube.com/watch?v=cMfq1lnp5qk&sns=em

http://www.youtube.com/watch?v=i9QYqak3Z48&sns=em

And now you know why I stopped watching CNBC and only watch the youtube info channles...

Sun, 04/29/2012 - 09:18 | 2383475 Sudden Debt
Sudden Debt's picture

TIME TO TAKEOVER EASTERN EUROPE!!!
Goldman's Fourth Reich!!

Sun, 04/29/2012 - 09:43 | 2383496 q99x2
q99x2's picture

Madoff's photo would have fit right in with that bunch of crooks. And, they will fit in nicely with him in the prison once they get caught. Pretty sure they don't feel safe to walk around without massive protection and that is a good start. Each day will get worse for them until they are finally hunted down and brought to justice.

Sun, 04/29/2012 - 10:01 | 2383506 43 Steelie
43 Steelie's picture

 

Anyhow, dear grizzlies…….bet your worried about today’s rally?   See u later.

 

Jim O'Neill, May 2010

 

 

Can't wait to see this guy discussing monetary policy with quotes like that. I feel bad for the English.

Sun, 04/29/2012 - 10:56 | 2383553 Jake88
Jake88's picture

"globalist wet dream term BRIC" ??? WTF

Sun, 04/29/2012 - 11:09 | 2383582 El
El's picture

So whatever it is they are trying to do, GS is going to be the front man. Troubling.

Sun, 04/29/2012 - 12:13 | 2383635 yogibear
yogibear's picture

The vampie squid's soldiers are taking control of key finance positions throughout the world. The vampire squid still needs to control China. 

Sun, 04/29/2012 - 14:33 | 2383776 Drachma
Drachma's picture

When he grows up, I want to be just like me.

                 - R. Wiggum

Sun, 04/29/2012 - 15:28 | 2383823 jmcadg
jmcadg's picture

Most Brits don't even know what Goldman Sachs is!
Mention the name and they'd probably think he's the exotic brother of Andrew Sachs, who they actually think is Manuel and is Spanish!

Trust me, the percentage of retards in the UK are equal to the US.

As long as they get their fill of EastEnders and Britain's Got Talent (lol), no one will notice.

Sun, 04/29/2012 - 17:06 | 2383897 Sandmann
Sandmann's picture

Most Brits don't even know what Goldman Sachs is!

 

Most Americans do know what Goldman Sachs is.......it is the US Treasury and sponsor of US Elections. It is the Essence of The American Dream......and they love Goldman

Sun, 04/29/2012 - 17:02 | 2383889 Sandmann
Sandmann's picture

The next Governor will be British. There is not enough credibility left in osborne or Cameron to dare anything that the Treasury Select Committee will oppose. After Thursdays upcoming elections Osborne might be out of a job anyway and an election looks ever closer. If they wanted a Goldman boy they could choose Gavyn Davies - even Brown stayed away from that. It might be Green of Standard Chartered or it might be Tucker - but it will be noone ZH has heard of or commented on.  There is simply too much inside the Bank of England for a foreigner - too much secret activity involved in national security

Sun, 04/29/2012 - 18:11 | 2383969 dust to dust
dust to dust's picture

 The Goldman subsidiary known as The Bank of England. Funny stuff. 

Sun, 04/29/2012 - 23:37 | 2384292 knukles
knukles's picture

First, Goldman is Not In Charge.
They are the front, the patsy, the poser for the RedShield, et. al.
When the time comes for the arrogant to be crucified alongside the Apian Way, those from Goldman will do the Rothschild's bidding.
Make that very clear in your mind.
Focus.
Do not forget.

Second and most possibly of greater importance, a philosophical meandering. 
In punishment of Zeus' anger, Pandora released all of the sins, pain and evils know to man from an urn (oft misinterpreted form classical Greek as a "box")
The exception to which was the quality of Hope.

O'Neill's potential assention to the Chair the Old Lady of Thread-needle is proof that Hope was in fact an evil as well, contrary to one interpretation of the myth wherein that it was not released and as such represents an attribute of good.

I cannot wait for the Ex Cathedra Horseshit.

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