Again, It Always Comes Back to Central Bankers

Source: LaRouche PAC

FORGET GRETA: THE CENTRAL BANKERS ARE THE REAL ECO-FASCISTS

By Harley Schlanger | 30 September 2019

This article was co-authored with Paul Gallagher

While most eyes watching events unfold at the UN Climate Action Summit were focused on the abused and rage-filled teen, Greta Thunberg, the truth about who is writing her script came out later that day, on September 23, when Bank of England Governor Mark Carney delivered his warning that, according to the largest banks in the world, no alternative to investments that shift industry "from brown to green" will be tolerated.

Carney opened his talk by stating, "A new, sustainable financial system is being built." The key to this, he said, is bringing “climate risks and resilience into the heart of financial decision making," as “sustainable investing must go mainstream." As Carney and other speakers made clear during the course of the summit, by "sustainable" they mean phasing out the energy production that provides the largest percentage of power in today's economy, including coal, oil and gas, and nuclear production, and replacing them with sources with ostensibly low or zero CO2 output.

None of them spoke of what the result of such a transition would be, i.e., moving to an inefficient global power grid based on decreasing the energy-flux density of the system, incapable of sustaining the levels of manufacturing, transportation, construction, or agricultural production required to support seven-plus billion lives on the planet. The result will be not having a sufficient electricity supply for the developing and developed countries alike, increased global infant mortality, shortened lifespans, and depopulation.

On Sept. 22 in New York City, on the eve of the UN Climate Summit, under the auspices of the United Nations Environment Programme—Finance Initiative, executives of 130 global banks—led by 30 of the biggest—signed a "compact" called "Principles of Responsible Banking," committing them to make the policy of the Paris Climate Accord, their own investment policy. That 2015 Paris Accord implicitly called for three-quarters of world coal power production to be eliminated by 2030. These 130 banks claim $47 trillion in assets.

While wielding fear-mongering language about the planet "boiling over" due to "man-made climate change"—which is based on Fake Science and the suppression of debate over the real sources of changes in climate—the financial powers behind Carney's jihad against modern society care little about the conditions of life on Earth.

Carney Pushes Bankers' Dictatorship

Carney, in his UN speech, expanded on what he presented at the Federal Reserve's annual outing in Jackson Hole, Wyoming, on August 22. In his remarks there titled, "The Growing Challenges for Monetary Policy in the Current International Monetary and Financial System," Carney insisted that the era of the dollar has ended, and proposed replacing it with a virtual, digital currency, controlled by Central Banks. Specifying that nothing physical would back this new "synthetic hegemonic currency," he said this new "financial architecture" would allow for the expansion of credit as needed.

Elaborating further, Carney added that he is proposing what former Fed Chair Ben Bernanke described as "helicopter money," that is, distribution of funds produced by Central Banks, as though dropped from helicopters, to "stimulate" the economy. Left unsaid is the real policy: that this new currency would be directed, by the Central Banks, to flow into the endangered speculative bubble, and to create new bubbles, such as the Green Financial Initiative boondoggle he is promoting.

Carney's Jackson Hole proposal, and a parallel one from the giant Wall Street firm, BlackRock, Inc., promoted by four prominent former central bankers, would far surpass the volume of funny money produced thus far by such gimmicks as Quantitative Easing and Zero or Negative Interest Rates. Such funds would not go to the real, physical economy, but into increasingly risky speculative ventures, to provide a short-term rate of return from trading to keep the bubbles from popping. Their supporters refer to these proposals as representing a “regime change in global finance."

At the UN, Carney explicitly laid out the terms for this "regime change," making clear that those who reject it will be targeted for extinction! Apart from the big banks, he identified the enforcers as asset managers, pension funds, insurers, credit rating agencies, accounting firms and shareholder advisory services. Carney initiated and co-chairs a Task Force on Climate-related Financial Disclosures (TCFD) among central banks and large European private banks, in order to "make these disclosures mandatory."

Carney then proceeded to lay bare his threat against any business or enterprise that might consider rejecting this change in regime:

Firms that align their business models to the transition to a net zero[-carbon] world will be rewarded handsomely. Those that fail to adapt will cease to exist. (emphasis added)

In other words, minimally, non-compliant firms will be denied credit, making their survival impossible.

A Crashing Sound Behind the Podium

Why have Wall Street's and especially London's, Frankfurt's and Amsterdam's bankers become "green" crusaders since 2015? Why and when, historically, do bankers become the drivers of extreme austerity on governments, and gin up movements of angry youth to shout down other views and break up other meetings? In other words, why and when do the biggest bankers become fascists—as Hjalmar Schacht said to his fellow bankers in reference to support for Hitler's Nazis in 1932: "Gentlemen, open the cash boxes."

Most of these bankers have not made any money—at least not remotely honestly—since 2015. Governor Carney and just about everyone else who spoke at the Jackson Hole bankers meeting admitted that the policy of zero interest rates and negative interest rates were failures, "traps," and nothing they did could generate any growth or even any inflation.

Now, the Federal Reserve has had to make emergency liquidity loans to financial institutions totaling well more than $350 billion during the past three weeks, because those banks and funds needed short-term liquidity and the Fed's "primary dealer" (Wall Street) banks would not, or could not, lend it to them. This is a major financial system problem and tracks very closely the ominous, early-2007 footsteps of the then approaching Global Financial Crash and Great Recession.

The Fed has not only had to extend its "day or two" emergency overnight lending from Sept. 16 through at least Oct. 10, but had to raise the daily injection to $100 billion, and add two-week liquidity loans in addition—first $30 billion of them on Sept. 24 and then $60 billion on each of Sept. 26 and 27—to carry banks past the third quarter’s end of September 30. These steadily rising liquidity injections nonetheless usually failed to meet the demand from the banks that were being refused loans from other banks, until Friday, Sept. 27.

Banks refuse liquidity loans to each other when they smell insolvency—if not of the borrowing bank itself, then of its corporate clients. They clearly are sensing the decay of the immense trans-Atlantic corporate debt bubble—whose "junk debt" parts alone total $3.5 trillion—and the securitized "everything bubble” around it including subprime auto loans, credit card debt, student debt, etc. Business capital investment is falling in Europe, and in the past two quarters, in the United States.

And we should not forget hundreds of super-indebted oil and gas drilling firms and their suppliers who make up a large chunk of very leveraged bank lending in the United States in particular, and are now losing more money than usual and facing a wave of defaults. This may be where Carney's "those who don't go green, will become extinct" intersects the financial crisis-sign of banks refusing to lend to other banks.

Whether that is the case yet or not, "green finance" is a desperate boondoggle, which these "responsible bankers”—so "responsible" that they include Deutsche Bank, Danske Bank, Lloyds, Barclays, Citigroup!—hope will let them loot their way, carbon taxes and tripled electricity prices and all, past the financial blowout they know is coming.

The Iron Teeth Behind Greta's Tears

Carney's address, and similar threatening outbursts, such as that by U.S. billionaire Michael Bloomberg, received little media coverage, as the fawning media focused instead on the children of the Apocalypse, led by Greta Thunberg. Her short address was scripted to appeal to a hoped-for audience of confused and frightened youth, while also meant to instill shame in those believers in man-made climate change who hesitate to take down the global economy, and provoke fear among those scientists and others who know the science being touted behind this "regime change" is fake.

Please go to LaRouche PAC to read the entire article.
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Source: RT News

WATCH: Dutch farmers clog roads with tractors & machinery over climate change blame

October 16, 2019

A scene from the farmers' protest on October 16, 2019 © AFP / ANP / Robin van Lonkhuijsen

Traffic on some of the busiest roads in the Netherlands ground to a halt on Wednesday as Dutch farmers ramped up protests against farming taking the rap for climate change.

"Last year you didn't hear anything about nitrogen, and now suddenly it's a mortal question," farmer Micha Bouwer of the Farmers Defence Force told state broadcaster NOS. "These are all people in the city who have two plants on their balcony and say 'nature is suffering'."

Stoet boeren via Westvlietweg op weg naar Malieveld #boerenprotest pic.twitter.com/YgRN3janqo

— Marieke van Essen (@mjhvanessen) October 16, 2019

Farmers are back for another big protest in the Netherlands. Thousands of tractors are driving on the highways right now and causing traffic jams across the whole country. This time not only the police but also the dutch army is trying to stop the #boerenprotest with roadblocks. pic.twitter.com/Qkk0zIM5vC

— Paploo (@Paploo968) October 16, 2019

Farmers on their way to The Hague again to protest against proposal to cut farm output country wide by 50%. #boerenprotestpic.twitter.com/WUVN5J6BS3

— nonouzi (@Gerrrty) October 16, 2019

While livestock farming is among the chief causes of nitrogen pollution, the farmers say they are being disproportionately blamed for climate change, and that their crucial role in food production is being overlooked.

The protest campaign follows Dutch court rulings that the government has an obligation to cut greenhouse emissions more significantly "in order to protect the life and family life of citizens" in the country.

Dutch politicians are reportedly considering imposing new restrictions on food production and farming in an effort to drastically cut nitrogen output, in opposition to concern from farmers and farming groups.

Please go to RT News to read the entire article.
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For the "end of an era for the US dollar," the fed sure does like to print a lot of it up for the repo market:

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