By refusing to back reliable coal-fired power plants, global elites have condemned the world’s poorest to a life of abject and eternal poverty.
The prospect of making $trillions trading in carbon dioxide gas credits – presumably backed by an invisible commodity that will never be delivered – has international bankers salivating. To get there, the money men have engineered so-called net-zero carbon oxide gas emissions targets, and plenty of Western governments have bought in.
The pinstriped beneficiaries thereof, however, couldn’t care less about the billion or so of the planet’s occupants who struggle every day to obtain the merest skerrick of energy for cooking or warmth. And then, often in the form of scavenged twigs and dung.
The ‘Kill the Poor’ attitude was on full display during the Glasgow climate gabfest, as Donn Dears details below.
Banks Agree: No more Coal-fired Power Plants
Power for USA
14 December 2021
COP26 has reached an agreement that will condemn millions of people in poor, developing countries to live in poverty and die an early death.
These are mostly non-white people, and since race seems to be of primary importance to elite Europeans and Americans, that fact shouldn’t go unmentioned.
Quoting an article from the Wall Street Journal:
“Most of the world’s big banks, its major investors and insurers and its financial regulators have for the first time signed up to a coordinated pledge that will incorporate carbon emissions into their most fundamental decisions.”
“Financial regulators, including the U.S. Federal Reserve, the Bank of England, plus the global-accounting-standards organization, have agreed to add their own oversight to the system through reviews and disclosure standards.”
A new international body is being established to enforce the making of the right decarbonization investments.
Some of these institutions have already said they won’t invest in coal-fired power plants or coal mining.
From a report by Morgan Stanley:
“Around 220 institutional investors representing some $57 trillion in assets have already committed to align their portfolios with net-zero. In addition, 88 banks, representing a third of global banking assets, have promised to decarbonize their lending and investment portfolios, in line with the net zero ambition.”
This means millions will continue to live without electricity and to having to use wood and dung for cooking. Dung, just to be clear, is the waste products, i.e., manure, from animals.
Supposedly, developed countries will provide billions for investing in wind and solar farms in developing countries.
Will these banks also invest in hydrogen production in countries that already don’t have enough electricity to supply even minimum amounts of electricity to their citizens?
And how will developing countries get along with battery-powered vehicles when they don’t have enough electricity to light their homes for just a few hours every day?
Has anyone been to Samarang, Indonesia, or cities in India and Africa to see how people move around and how goods are transported?
Battery-powered motor bikes and three-wheeled jitneys don’t work very well without electricity.
The media will declare COP 26 a success, but will the three or four billion poor people of color living in developing nations agree?
Power for USA
4 thoughts on “Beyond Contempt: Bankers Back Net-Zero & Condemn World’s Poorest to Eternal Poverty”
Upper classes like royalists need lower classes to be superior to. As STT has pointed out technologically advanced nations (Germany, Japan) have non replacing birth rates. Bringing all up to the same standard would do away with the have-nots, & that would never do.
Since the destruction of the Alexander Hamilton financial system – the purpose of American independence that has been lost sight of – based on Hamilton’s system our own Commonwealth Bank was ordered destroyed by the 1980s ALP-NLP economic consensus that gave away our economic independence to the private financiers of the International Monetary Fund & World Bank, we have been in constant rising debt since & the piper will have to be paid by war or depression or both.
Since the 1999 Bill Clinton destruction of the 1933 Glass-Steagall banking separation Act, bank leveraging & gambling with depositors’ money is again sanctioned & any loss is guaranteed with taxpayer money: the $250K deposit guarantee is only activated at APRA’s discretion & according to the IMF & BIS 2011 there are insufficient funds set aside to even cover AUs big 4 banks (cross owned by 6 transnationals).
Slipped into a recent book by the deputy director of the Fiscal Affairs Department of the IMF Michael Keen, & Joel Slemrod, professor of economics at the University of Michigan, is the intention to expand reduced taxation on interest gained from capital rather than reducing tax on worked for income. This makes obvious what upper classes think of the working class – plenty more where they came from – & who governments work for (Malthusian philosophy).
Even in so-called 1st world countries working populations are duped into believing they’re not self-policing wage slaves over-governed by the over-paid.
As Lord Bertrand Russell once said, “Man is born ignorant. Then educated to be stupid.” He should know as his Congress For Cultural Freedom had that purpose.
A large highly educated population would not put up with what is laughingly called a democratic process – particularly a preferential voting system where votes are counted more than once and running candidates pick the winners.
Old-Labour used to refer to the ‘money power’ that is now in total control, but the ALP equivalents in the common 2 party systems no longer care as they mouth platitudes in seeking to please their masters.
At lest a 2nd UN vote against glorification of Nazism was recently passed with only USA & Ukraine voting against it.
Like the poorer countries, we can only live in hope.
China will finance it. Western banks refusing to do it is just another part of the suicide pact that our corrupt elites have signed with China for their short-term gain.
Climatologist Dr. Tim Ball’s great little booklet for the layman:
Human Caused Global Warming The Biggest Deception In History.
Only 121 well illustrated pages reveal the banksters & multi-billionaires motives for the climate/warming fraud: these include
1) a vast depopulation
2) de-industrialisation (the attack on CO2)
3) a totalitarian one world govt.
Dr. Ball’s website, dedicated to truth in science:
The Great Reset & the covid frauds are the warming/climate fraud on steroids.
“ESG” = Extreme Shortages Guaranteed. Divesting in crude oil that changed the world after 1900 guarantees shortages of products supporting societies and economies.
Today, there is a lost reality that the primary usage of crude oil is to manufacture derivatives and fuels which are the ingredients of everything needed by economies and lifestyles to exist and prosper.