Carney Under Fire Over Meeting With Venezuelan Regime Crooks Seeking $550m Gold Handover

Bank of England Governor Mark Carney is coming under fresh fire over an imminent meeting with two of Venezuelan dictator Nicolas Maduro’s key sidekicks. Extraordinarily, Guido understands that Carney is due to meet a delegation from Maduro’s ruinous regime tomorrow including Calixto Ortega Sanchez, the self-styled “President” of the Venezuelan Central Bank, and Simon Zerpa, Maduro’s Finance Minister. The delegation want Carney to transfer them $550 million of gold held by the Bank of England. Nothing suspicious about that at all…

Ortega Sanchez was appointed by Maduro but never ratified by the Venezuelan National Assembly, who have accused him of “usurping” their authority. Zerpa was sanctioned by the US Government for stealing hundreds of million of dollars and is heavily involved in the many corruption schemes of the Venezuelan regime, including the FONDEN slush fund. Neither have the credentials for the roles they’ve been granted. Carney should not even be dignifying Maduro’s cronies with a meeting, let alone seriously be considering handing over $550m of gold to them.

Tory MP Andrew Lewer, who is Vice-Chairman of the Venezuela APPG, has written urgently to Carney and Philip Hammond, describing the meeting as “entirely inappropriate” and urging Carney not to “confer respectability on a regime placeman such as Calixto Ortega who is unlawfully seeking to present himself as a central bank president.” Lewer also warns that “any transfer of gold to the regime would be quite wrong, as the proceeds would either be used for corrupt personal enrichment of regime leaders, or intensified repression of the population, or both.” Carney has already tarnished the Bank’s reputation with his politicking on Brexit, this would take it to new depths…

Read Lewer’s letter in full here:

UPDATE: Interestingly, if Carney did hand over the cash it wouldn’t be the first time the Bank of England has handed over gold to a murderous regime in dubious circumstances…

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Geek of the Week: Mark Carney
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Bank of England Revises Up Growth Forecast, Again

The pessimists at the Bank of England slashed their growth forecasts almost immediately after the Brexit vote. The economy proved resilient, prompting an upwards revision from 0.8% to 1.4% in November. Today on the BoE’s Super Thursday the Bank yet again revises up its 2017 GDP growth forecast to 2%. Obviously this beats the predictions of all city economists. Michael Fish eat your heart out

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Carney: Brexit Risks Have “Gone Down”

Some prize comments from Mark Carney which went under the radar in the excitement of Trump yesterday. The Bank of England governor now says he is “surprised” his forecast of an immediate post-Leave vote slump has not come true, admitting the BoE is “very likely” to improve its economic forecasts:

“Of course having got through the night the day after the scale of the immediate risks around Brexit have gone down.”

Apparently the EU now has more to worry about than us:

“there are greater financial stability risks on the continent in the short term for the transition than there are for the UK”

The stock market is enjoying a bull run and breaking all records. In November the BoE already doubled its forecast for 2017, the biggest single upgrade it has ever made to a prediction, and now it is likely to upgrade it again. Experts…

mdi-timer 12 January 2017 @ 08:27 12 Jan 2017 @ 08:27 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
UK Industrial Production Surges, Small Businesses “Confident”

UK industrial production is up 2.1%, way up on a gloomy 1% estimate. The latest figures are for last November and year-on-year the indicator is now +2%. Experts wrong again…

The news comes after the Federation of Small Businesses reported its members confidence had “bounced back” after Brexit. Chairman Mike Cherry said:

“The current economic outlook seems brighter, and UK small businesses are ambitious and want to make the most of it.”

Brexit Britain confident and productive…

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Carney on Not Being Helpful

Mark Carney explains the Bank of England’s forward guidance…

“The thing about forward guidance is that it is guidance that is forward. Which isn’t to say it’s meant to be in any way accurate. Indeed, it would be surprising if it were. The most important thing about forward guidance is that the underlying economic determinants should be correct, not that it should be helpful.”

mdi-timer 16 November 2016 @ 07:32 16 Nov 2016 @ 07:32 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments
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