Craig Isherwood today branded as a “liar” Bank of England - TopicsExpress

Craig Isherwood today branded as a “liar” Bank of England Governor Mark Carney, for saying that until all nations enact Cyprus-style “bail-in” laws to steal deposits to prop up banks, the problem of “Too Big to Fail” [TBTF] banks is not yet solved. Carney doubles as the boss of the Financial Stability Board based at the Bank for International Settlements in Switzerland. The FSB is dictating the moves in each member country of the G20, including Australia, to legislate bail-in powers so that when a bank fails in the next financial crisis, its customers will have their deposits seized in order to keep the bank going. Last week Carney briefed the media ahead of the G20 Leaders’ Summit in St Petersburg, declaring that the FSB and G20 are still “years away” from a solution to the problem of TBTF banks. An FSB report that Carney released on the same day stated, “If we are to resolve … the problem of TBTF, further action is required from G20 countries, the FSB and other international bodies.” According to Canada’s 2 Sept. Globe and Mail, “That includes each country committing to introducing legislation enacting the FSB’s proposals and improving co-ordination between G20 members that have already done so, the report said.” [Emphasis added.] Importantly for every either dishonest or ignorant Australian politician who denies to their constituents that bail-in is planned for Australia, Carney praised Australia as one of the nations complying with the FSB’s demands! “When Mark Carney says there is no solution yet to TBTF banks, he is a liar,” Isherwood said. “A solution is not years away, because we already know what to do—enact Glass-Steagall.