Coffee House

The creepy cult of Mark Carney

13 August 2013

12:10 PM

13 August 2013

12:10 PM

Of all the qualities one hopes for in a Bank of England Governor – a brilliant mind, the courage to tell politicians they are wrong, supernatural foresight – coolness is not among them. I don’t mean coolness under pressure; clearly that helps. I mean the ability to project a hip image.

The new Bank of England Governor may well be a terrific economist. More than that, however, he is a first-rate media brand. He’s more Blair than Blair. Hell, he’s more Blair than Cameron. Last weekend, he went to the Wilderness Festival, aka ‘poshstock’, and the press seems to have taken that as proof that things are going to get better. Yesterday’s Evening Standard frontpage said:  ‘Get the Carney look: the Bank of England Governor teaches British men how to dress-down in style.’ Never mind the base-rate, everyone, the new Guv wears trendy clothes and has a fashion-savvy wife (‘Eat your heart out, Dave & Sam Cam’ etc).


A creepy Carney cult seems to be emerging. Whenever he appears on TV or the radio, media-men take to Twitter to applaud his ‘communication style’. Newspapers obsess over his ‘George Clooney-like’ looks, his snappy suits, and his unstuffy manner. He’s said to make a refreshing change from the fusty old ways of Threadneedle Street.

It’s all PR, obviously. Carney arrived in this country on a wave of hype — he was the super-central banker, a man who single-handedly steered the Canadian economy away from the global slump. As Matthew Lynn pointed out in the Spectator in May, however, he may be more lucky than good. While Carney basks in the sunshine of Britain’s affection, the Canadian economy he left behind is tanking. But who cares when he looks great in shorts?

Subscribe to The Spectator today for a quality of argument not found in any other publication. Get more Spectator for less – just £12 for 12 issues.

Show comments
  • jack loach

    Swiss Bank
    Accounts. March. 2015.

    Is your monies safe
    in these accounts —- definitely NOT.

    Would you get your
    money back if every body decided to withdraw all their accounts –
    NO WAY.

    Economic Experts
    say that there would only enough money to repay 50% of their clients.

    Are you going to be
    in the 50% — that loose your money.– Get it out NOW.

    2012 — – June.
    — Published in Anglo INFO .Geneva.— USA Trust Fund Investors were
    sent false and fraudulent documents by Pictet Bank.Switzerland. in
    order to collect large fees. ( Like MADOFF) —Even after the SEC in
    the USA uncovered the fraud Pictet continued to charge fees and drain
    whatever was left in these accounts. Estimated that $90,000,000
    million lost in this Pictet Ponzi scheme.

    2012 – – – July.
    — De – Spiegel. — states – Pictet Bank uses a letterbox
    company in

    and a tax loophole involving investments in London to gain

    millionaires as clients.

    – – – August —- German Opposition Leader accuses Swiss Banks of
    “organised crime.”

    the fines that crooked Swiss banks have incurred in the last few
    years exceeds £75.Billion.

    is also calculated that the secrecy ” agreements” with
    regards to tax evation by their clients will cost the banks another
    £450 Billion.( paid out of your monies.).

    banks are panicking — the are quickly restructuring their banks
    —- from partnerships —

    ” LIMITED COMPANIES.” —– this will probably mean that
    in the future — they could

    you only 10% of your monies ” if you are one of the lucky ones”
    —- and it be legal.

    —- The Crimes of —- Pictet & Cie Bank.

  • jack loach

    Sods —–


    For almost two
    decades we have strived to get justice for the injustice we have
    suffered at the hands of a world renowned bank— PICTET & CIE.

    Two yorkshiremen
    both running their own small family businesses trying to resolve the
    problem by taking all the correct legal procedures to recover their

    The matter was
    raised in Parliament – twice– the FSA investigated the matter
    concluding that PICTET had rogues operating in their London Bank —
    but the rogues had left —saying no one left to prosecute.??? —–
    so there.

    We then
    approached the Financial Ombudsman Service. (FOS) — our case was
    dealt with by seven different people —- then our numerous E-Mails
    were ignored — nobody would speak to us ——-so there.

    We then asked the
    SFO ( Serious Fraud Office.) to investigate our case —- the
    criteria of our case ticked all their boxes. — we were instructed
    not to send them

    documents/evidence.—— in fact they wrote to us advising us to go
    to the Citizen’s Advice Bureau.(CAB.)

    Richard Alderman
    the SFO boss —- who responded to our letter was the same man who
    would not investigate the “ Madoff” scandal or the “Libor”

    The MP’s
    committee —- said he was sloppy— and the SFO was run like “
    Fred Karno’s Circus” —– it was an office of fraud.—– so

    Our M.P.
    approached our local Chief Constable to investigate—– he was
    called—- Sir Norman Bettison— Chief Constable of West Yorkshire
    Police —- a force that made “ Dad’s Army” look like the S.A.S.
    They were inept – corrupt —malicious — from top to bottom. We
    were criminally dealt with by the Forces Solicitor—- the Head of
    the Economic Crime Unit —-and the Chief Constable —– so there.

    We were then
    advised to pass our complaint against West Yorkshire Police to the
    I.P.C.C. – which we did — they advised us to make our complaint
    to —- the West Yorkshire Police — we did with reluctance — all
    we got was abuse and obfuscation. —– so there.

    Sir Norman
    Bettison —- The Forces solicitor— and the Head of the Economic
    Crime —- have all been removed from their posts and facing criminal

    —— so there.

    We even sought
    justice through the Courts — culminating in a visit to the Court of
    Appeal-London.— On leaving the Courts of Appeal that day our
    barrister a “rising star” informed us — that if that was
    Justice then you can keep it. He quit the law and moved to Canada
    —– so there.

    A few years later
    we learned that one of the judges in our case at the Court of Appeal
    was related to a senior executive of the Pictet Bank —–so there.

    The Ministry of
    Justice passed our case to Lord Myners to investigate — we would
    rather have had Mickey Mouse or Donald Duck do it. — to this day we
    don’t know

    —whether he did
    anything or not —- probably not — seeing that his wife was on the
    Pictet Prix Board.

    Pictet & Cie
    .Bank — voted private bank of the year 2013.

    Ivan Pictet —-
    Voted banker of the year 2012. —- the senior partner — lied on
    numerous occasions and had documents destroyed — also said genuine
    documents were forgeries. —– so there.

    Ivan Pictet in
    Oct. 2013 —- Given the Legion of Honour — but saying that —-
    honours were given to Hitler — Eichmann — Mussolini —Franco
    — he’s in fitting company. —-so there.

    RAPHAEL.Q.C. — Peters & Peters.London. They were the banks

    Raphael.Q.C. along with Ivan Pictet withheld crucial documents
    requested by the High Court —- the FSA —- and the police Fraud
    Squad. —-so there.

    Raphael.Q.C. became an Honorary Queens Counsellor in March. 2012.

    Raphael.Q.C. became a Master of the Bench in Nov.2012.

    An expert in
    Fraud —the Doyen of Fraud Lawyers. —– so there.

    This says a lot
    about Banks — the consensus of opinion is that they are highly paid
    “crooks” —- no wonder they voted Ivan Pictet banker of the

    It appears that
    crimes in the “establishment.” are honoured by their peers.


    Full Story.—-
    “google or Yahoo ”




    Ivan Pictet/Monty

  • Raj Thamotheram

    As an antidote to all the hot air in the earlier comments, here’s some empirical data about handsome CEOs and financial performance.

    Another sign of how efficient markets are, perhaps?

  • 2trueblue

    “He is a first rate media brand”, God help us then. The last thing we need is a vacuum in that space. He has not done anything yet, so lets not get carried away. Canada’s population is less that half the UKs, they did not have a housing bubble, they have massive natural resources, and their banks behaved themselves. This had relatively little to do with Carney.

    Lets see what he can actually do. So far he has massaged the media, and we know how vacuous they are!

  • HookesLaw

    Gray should spend more time worrying about the Church of England which seems to be starting a campaign against fracking.

    • the viceroy’s gin

      …so they’re greenie nutters like you Camerloons?

  • HJ777

    The idea that what is needed is a central banker with “a brilliant mind” is fallacious.

    Central banks (and bankers) have too much power and can never know enough to make all the right decisions – Hayek was right about this.

    If we must have central banks, then the best we can hope for is someone who is prudent, sceptical of easy solutions and the power of the bank to run the economy, and hugely aware of his own fallibility.

  • the viceroy’s gin

    Hard to call Carney anything like attractive. That photograph and the massive chunk of real estate above his eyebrows brings to mind one of Captain Kirk’s old friends:

  • Fergus Pickering

    He doesn’t look in the slightest like George Clooney. And the creepiness has nothing to do with him but creepy b*m-kissing journalists, of whom their are a great number.

    • Abhay

      He looks more like Clooney’s cousin who was raised on the bankrupt farm. The boot-licking is indeed cringe-causing!

  • Jupiter

    Why do you think the Canadian economy is tanking?

    From that Canadian newspaper article you linked to above –

    “The largest contributor to the overall 39,400 drop in employment was a
    loss of 74,000 in the public sector, partly offset by gains in
    manufacturing, utilities and pockets of the service sector.”

    Sounds good to me, we could do with some of that here.

    • HookesLaw

      He has to say that to justify the preconceived nature of his argument.

  • the viceroy’s gin

    Well, the Londonistan bubble loves them some money printing, and King Mervyn was always sure to deliver.

    Now, the bubble needs to make sure its beloved money printing carries on and isn’t derailed somehow, so Mr. Carney is to be regaled, lest any stray longknives get brandished and spoil the party.

    • Abhay

      Read all the stuff coming out on inflation.

  • Tony_E

    What is Carney going to do that is truly different to what has gone before? I haven’t heard anything material in his first big set piece press conference that suggests to me that he’s going to be any more effective than King.

    Using monetary policy to ‘stimulate demand’ until unemployment is down to 7%. Well that’s not a change, only a clarification of the aggregate demand policies that were already tacitly in place (and have ben for a decade adn more). All he has done is to signal to the brokers that the era of cheap money is to continue for a while, so pile on and speculate while inflation makes the loans are free of real interest. He’s propping up a bubble, like the last lot, like Greenspan and Bernanke. There is no economic miracle coming down the tracks.

    Borrowing has to be paid for one way or another. And you and I pay every time. Either we pay straight up through higher taxation, or we pay through debasement and falling living standards. But in the end we always pay. Governments try to hide it because paying is unpopular, but the truth is, and has always been, that eventually debts are inescapable.

    Carney, his policy or his PR, won’t change that basic truth.

  • Holly

    Carney V King….Or Bozo, Balls or McCluskey?

    Not much argument from me who I’d prefer to watch, and I actually got the drift of what he was on about.
    King just made me go paint something, so I could watch it dry.

  • Smithersjones2013

    I just hope Carney is not as shallow and superficial as the media coverage (including this) surrounding him has been. The last we had this sort of positive hysteria around a banker it was around Sir Fred Goodwin in the early noughties. Look how that turned out…..

    • Abhay

      Pop/mass media is being run by people with bad memories and even worse writing skills.

  • george

    George-Clooney-like. Emphasis on ‘like’. Reminds me of one journalist’s description of Alan Alda’s ‘non-threatening good looks’ — meaning that he didn’t have any.

  • Tom Tom

    Carney brought his own PR team with him. he is polishing his image for Canadian Liberal Party politics

    • dalai guevara

      Of course he has – that’s how the business world works.

    • george

      Considering that the Canadian Liberals are worse than Labour if you leave Galloway out of it, I certainly hope not.

  • Chris lancashire

    This seems to be a rather egregious attack on Carney. He is annoyingly good looking and smooth but he has a decent track record and some fresh ideas. If he is “more lucky than good” then that’s fine (“send me a General who is lucky”) and the tanking of the Canadian economy has more to do with its dependence on natural resource extraction, demand for which, has indeed “tanked”. I don’t think you can lay that one at Carney’s door.
    Give the bloke a chance.

    • Hello

      Carney could announce the worst monetary prescription ever, and the media would say that it was “innovative” or “radical”. I don’t think the bloke needs to be given a chance.

      • Chris lancashire

        I was suggesting that his performance is judged after at least 12 months rather than 12 days.

        • Hello

          Now why on earth would you want to give a chap, whose primary interest is clearly himself, the time and the lavish praise of everything he does to imagine that he is a legend. Accountability is a constant concept. No one is suggesting that he shouldn’t be given a chance, but that doesn’t mean that he should be elevated to unearthly heights either.

          • HookesLaw

            And another one

      • HookesLaw

        Stupid comment.

        • Hello

          Takes one to know one.

        • Abhay

          Not stupid at all.
          Read again. Think.

          • HookesLaw

            yes it is it makes a sweeping uncorroborated and fatuous claim
            Why on earth would you want to give a chap, whose primary interest is clearly himself’
            No one has elevated him to unearthly heights.

            The argument is based upon pure supposition and invention.

    • HookesLaw

      ‘a rather egregious attack’ is a very polite way to put it. You are to be commended for your restraint and literacy.
      Mr Gray has produced an endless stream of dipstick articles. But then again this is what the modern day Spectator is all about.

      And they have the nerve to ask us to pay money for it.

      and if Gray’s article tells us anything it is to show up how idiotic and empty headed his fellow journalists are. It takes one to know one)

      • Chris lancashire

        I have to admit to paying money for it.

        • the viceroy’s gin

          You Camerloons are their target audience, so that would fit.

          • Chris lancashire

            Ah, I wondered when the Expert on Everything would deliver his pearls of wisdom.

            • the viceroy’s gin

              You were wondering about strangers on the internet? That’s sorta creepy.

              • HookesLaw

                You are the creepy one. You would rather see no sort of conservative govt if it is not your sort of conservative govt.

                You can spout your rubbish from miles away safe from having to live under a socialist govt.

                • the viceroy’s gin

                  Is that what the voices are telling you, lad?

    • Abhay

      ‘Give the bloke a chance’…?

      Nobody is waiting for you or I to ‘give the bloke a chance’. The globalist will do what they have to do. You just be prepared to pay their bills either through growing taxes or worsening inflation / currency.

      Unless you have managed to get a job in his entourage.