by Rhoda Wilson, Expose News:
The United Nations’ unprecedented effort to reduce emissions of CO2, would be not only costly but deadly as well. The denial of efficient, affordable energy to a world in need would necessarily lead to the loss of millions of lives and the impoverishment of many millions more. This is intentional.
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The above are remarks made in the introduction of a 64-page report published by the Executive Intelligence Review (“EIR”) in September 2019. The report is aptly named ‘CO₂ Reduction’ is a Mass Murder Policy Designed by Wall Street and the City of London’.
As the name suggests, the report details carbon dioxide (“CO2”) reduction as a mass murder policy. It discusses climate psychologists promoting CO2 reduction as a solution viewing economic development as undermining the future, and advocating for policies that may have negative consequences.
It discusses the “green finance bubble”; the push for “green finance” by the Bank of England and BlackRock that will lead to devastating societal damage if not stopped in time.
And gives the history of energy development which shows the importance of increasing energy flux-density for societal progress, contrasting with the limitations of green energy sources like wind and solar power.
Importantly, the first chapter ‘The Age of Reason is in the Stars’ emphasises the need for a positive image of mankind and passionate love for humanity to unleash the unlimited potential of humans.
As you can see from the index shown above, many aspects in this report could be highlighted and each is as important as another. We have chosen to highlight points made about the green finance bubble because the main driving forces of all these interconnected plans being rolled out across the world in recent years seem to be either ideological or financial.
Please note that the report was written in 2019 and we have not edited the tense of the text extracted from it to accommodate for this. Neither have we adjusted the text to show, for example, former governor of the Bank of England Mark Carney’s current role. And we have used the same section titles as EIR’s report for ease of reference.
How Climate Hysteria and Radical Environmentalism Are Supposed to Save the System
Greening World Finance
The global push for a transition to a “climate sustainable economy” cannot be understood unless it is put in the context of the bankrupt global financial system. The “greening of the economy” is nothing but the last effort to bail out the system with a new giant financial bubble.
Not accidentally, in a paper published on 12 September 2019, the Institute of International Finance, the cartel of the financial industry, has characterised the green economy as “the new gold.”
As EIR is drafting its report, CO2 is Mass Murder, central banks and government efforts to keep the global financial system artificially alive after the 2008 financial crisis are approaching their exhaustion. The big 2008 bailout blew out central bank balance sheets and pushed government budgets to the limit of over-indebtedness, rolling over and actually increasing the global debt bubble.
Overall, global debt had grown to $244 trillion as of the third quarter of 2018, a 100% increase from a decade ago. At the same time, austerity measures implemented by governments to make the bailouts “fiscally sustainable” have brought the real economy to a halt. A decade of liquidity injections by central banks with zero and now negative interest rates has kept inflating the bubble while failing in the purported aim of reviving the real economy.
As a result, the system is facing a liquidity crisis in the short term, which will require an even larger bailout effort than in 2008, when the Fed alone committed up to $16.8 trillion overnight to prevent a total collapse.
Nobody has the crystal ball to forecast when the collapse will occur, but warnings such as the one that occurred on September 17, when a liquidity crisis sent the interbank lending rate up to 10%, forcing the Federal Reserve into emergency liquidity actions and back toward quantitative easing programs, should be taken seriously.
The answer of the financial industry to the threatened collapse of the system is the creation of a new giant bubble financed with taxpayers’ and “helicopter” money. The new bubble is called “green finance.” It won’t work, but it will do devastating damage to society if we don’t stop it in time.
Further resources:
- Dealing with the next downturn, BlackRock, 15 August 2019
- Dealing with the next downturn: From unconventional monetary policy to unprecedented policy coordination, SUERF, the European Money and Finance Forum, October 2019
A ‘Regime Change’ For the Financial System
In leading the efforts for “greening” the financial system, both Bank of England Governor Mark Carney and Wall Street giant BlackRock LLP are promoting many other new and exotic ideas to save the current bankrupt system.
Among the proposals brought up, before and after the meeting of central bankers at the Kansas City Fed’s August 2019 Economic Policy Symposium in Jackson Hole, Wyoming, is that offered by four prominent BlackRock executives, who issued a paper proposing a new monetary policy to be applied when the next crisis hits; they called it “going direct,” meaning that central banks could print money and directly lend to governments, institutions, firms, etc. Such a policy, sometimes called “helicopter money,” is supposed to allow a return of some desired inflation without increasing public debts.
One of those executives, former Swiss National Bank Chairman Philipp Hildebrand, called the scheme a “regime change” in monetary affairs in an interview with Bloomberg on 15 August 2019:
We are going to see a regime change in monetary policy that’s as big a deal as the one we saw between pre-crisis [of 2008] and post-crisis, a blurring of fiscal and monetary activities and responsibilities.
In this “regime change,” the central banks will still be independent of the governments, but the governments won’t be independent from central banks.
BlackRock called its immediate scheme the Standby Emergency Fiscal Facility, or SEFF.
From his side, Carney, speaking at the Jackson Hole meeting, proposed that to have a world economy less hostage to the United States-China trade disputes, one should create a synthetic world currency to replace the dollar, an international new reserve digital currency he calls a “Synthetic Hegemonic Currency.” He described it as being modelled on Facebook’s proposed Libra, but issued and controlled by central banks working with but ruling over governments.
The central banks’ “regime change” could happen much more quickly than Mark Carney was letting on in his remarks about a “Libra-like” digital currency replacing the dollar.
Further resources: Bank of England Governor: Libra-Like Currency Could Replace US Dollar, Coin Telegraph, 23 August 2019
Digital Money and Green Boondoggles
As “shocking” as BlackRock’s scheme and Mark Carney’s “Libra-like” proposal are in themselves, equally striking is that both are leaders in the current “climate change finance.” The Green Finance Initiative of the central banks is spearheaded by Carney’s Bank of England (“BoE”).
BlackRock, together with the Rhodium Group, is pushing a sophisticated “Google Maps”-type programme classifying the “climate change risk” to investments in US municipal bonds, electric utilities, and commercial real estate, literally property by property. Risk, that is, from “extreme heat waves,” wildfires, floods, extreme storms, etc. Fossil fuel production facilities are all classified as “high risk” in this programme, reflecting only the virtual reality of investment advice.
BlackRock’s programme is a pilot project for the “sustainable finance classification system” the European Commission is working at, also called “Taxonomy” (see below, ‘The High-Level Expert Group on Sustainable Finance’). Once the Taxonomy system is in place, customers can be induced to invest their money into “green projects,” and a “committee of experts” can be designated by central banks to decide how to spend the money printed for government “use in creating inflation.”
