Trilateral Commission • Two Ways of Looking at it

The following diagram shows members/entities that are directly plucked from the membership list of the Trilateral Commission as of September 2021 (green represent former members).

The first diagram shows the member and the node linked to each member is the entity/event that they are famous for.

The second diagram explains the impact of each node on the material conditions in America and then the world – that we all live under each and every day.

THE CENTRAL BANKERS’ LONG COVID: AN INCURABLE CONDITION • Philosophical Salon

Source: Philosophical Salon

Sheep spend their entire lives being afraid of the wolf, but end up eaten by the shepherd. (Popular proverb)

By now it should be clear that COVID-19 is, essentially, a symptom of financial capital running amok. More broadly, it is a symptom of a world that is no longer able to reproduce itself by profiting from human labour, thus relying on a compensatory logic of perpetual monetary doping. While the structural shrinking of the work-based economy inflates the financial sector, the latter’s volatility can only be contained through global emergencies, mass propaganda, and tyranny by biosecurity. How can we break out of this vicious cycle?

Since the third industrial revolution (microelectronics in the 1980s), automated capitalism has been engaged in abolishing wage labour as its own substance. We have now passed the point of no return. Due to escalating technological advance, capital is increasingly impotent vis-a-vis its mission of squeezing surplus-value out of labour-power. With the unleashing of artificial intelligence this truly becomes mission impossible – game over.

This means that the foundations of our world no longer reside in the socially necessary labour contained in commodities such as cars, telephones, or toothpaste. Rather, they reside in highly flammable debt-leveraged speculations on financial assets like stocks, bonds, futures, and especially derivatives, whose value is securitised indefinitely. Only the religious belief that the mass of these assets produces value prevents us from seeing the yawning abyss beneath our feet. And when our faith dwindles, divine providence intervenes by sending us into collective hypnosis through apocalyptic tales of contagion and attendant narratives of salvation.

Yet, reality is stubborn, and keeps knocking on our door. As the financial tumour spreads through the social body, capital opts to unleash its Leviathanic doppelganger, a vampire that feeds on global emergencies and business models anchored in digital technology with the potential to securitize the entirety of life on earth. The writing is on the wall, a ‘soft dictatorship’ is already staring at us. Today, resisting the tide means defending the inviolable dimension of human dignity, a non-negotiable starting point for the construction of an alternative social project. There is still time, but we need critical awareness, courage, and collective awakening.

Pandexit in the land of unicorns

How close are we to Pandexit? The following excerpt from a recent Bloomberg piece has the most likely answer: “For anyone hoping to see light at the end of the Covid-19 tunnel over the next three to six months, scientists have some bad news: brace for more of what we’ve already been through.” To unpack this statement, let us surmise that our future is characterised by the following events: 1. Central banks will continue to create inordinate amounts of money, mostly destined to inflate financial markets; 2. The contagion narrative (or similar) will continue to hypnotise entire populations, at least until Digital Health Passports are fully rolled out; 3. Liberal democracies will be dismantled, and eventually replaced by regimes based on a digitised panopticon, a Metaverse of control technologies legitimised by deafening emergency noise.

Too dark? Not if we consider how the health crisis rollercoaster (lockdowns followed by partial openings alternating with new closures caused by mini-waves) looks increasingly like a global role-play, where actors pass the buck to make sure the emergency ghost continues to circulate, albeit in a weakened capacity. The reason for this depressive scenario is simple: without Virus justifying monetary stimulus, the debt-leveraged financial sector would collapse overnight. At the same time, however, rising inflation coupled with supply-chain bottlenecks (especially microchips) threatens a devastating recession.

This catch-22 appears impossible to overcome, which is why the elites cannot let go of the emergency narrative. From their perspective, the only way out would seem to imply the controlled demolition of the real economy and its liberal infrastructure, while financial assets continue to be artificially inflated. The latter comprises cynical tricks of financial greenwashing such as investment in ESG securities, an environmentally disguised loophole to legitimise further debt expansion. With all due respect to the Greta Thunbergs in our midst, this has nothing to do with saving the planet.

Rather, we are witnessing the accelerating dissolution of liberal capitalism, which is now obsolete. The outlook is objectively depressing. Global financial and geopolitical interests will be secured by mass data harvesting, blockchain ledgers, and slavery by digital app peddled as empowering innovation. At the heart of our predicament lies the ruthless evolutionary logic of a socioeconomic system that, to survive, is ready to sacrifice its democratic framework and embrace a monetary regime supported by corporate-owned science & technology, media propaganda, and disaster narratives accompanied by nauseating pseudo-humanitarian philanthro-capitalism.

By appealing to our personal sense of guilt for ‘destroying the planet’, the coming climate lockdowns are the ideal continuation of Covid restrictions. If Virus was the scary appetiser, a generous portion of carbon-footprint-mixed-with-energy-scarcity ideology is already being served as main meal. One by one we are being persuaded that our negative impact on the planet deserves to be punished. First terrified and regimented by Virus and now shamed for harming Mother Earth, we have already internalised the environmental command: our natural right to live must be earned through compliance with ecological diktats imposed by the International Monetary Fund or the World Bank, and ratified by technocratic governments with their police. This is capitalist realism at its most cynical.

The introduction of Digital Health Passports (only a year ago ridiculed as conspiracy theory!) represents a critical juncture. The tagging of the masses is crucial if the elites are to gain our trust in an increasingly centralised power structure sold as an opportunity for emancipation. After crossing the digital-ID Rubicon, the crackdown is likely to continue smoothly and gradually, as in Noam Chomsky’s famous anecdote: if we throw a frog into a pot of boiling water, it will immediately come out with a prodigious leap; if, on the other hand, we immerse it in lukewarm water and slowly raise the temperature, the frog will not notice anything, even enjoying it; until, weakened and unable to react, it will end up boiled to death.

The above prediction, however, needs to be contextualised within a conflictual and deeply uncertain scenario. Firstly, there is now evidence (however heavily censored) of genuine popular resistance to the pandemic psy-op and the Great Reset more widely. Secondly, the elites appear deadlocked and therefore confused as to how to proceed, as demonstrated by several countries opting to de-escalate the health emergency. It is worth reiterating that the conundrum is, fundamentally, of economic nature: how to manage extreme financial volatility while holding on to capitals and privileges. The global financial system is a huge Ponzi scheme. If those who run it were to lose control of liquidity creation, the ensuing explosion would nuke the entire socio-economic fabric below. Simultaneously, a recession would deprive politicians of any credibility. This is why the elites’ only viable plan would seem to lie in synchronizing the controlled demolition of the economy (collapse of global supply-chain resulting in an ‘everything shortage’), with the rolling out of a global digital infrastructure for technocratic takeover. Timing is of the essence.

Emergency addiction

With regard to a potential recession, financial analyst Mauro Bottarelli summarised the communicating-vessels logic of the pand-economy as follows: “a state of semi-permanent health emergency is preferable to a vertical market crash that would turn the memory of 2008 into a walk in the park.” As I tried to reconstruct in a recent article, the ‘pandemic’ was a lifeboat launched to a drowning economy. Strictly speaking, it is a monetary event aimed at prolonging the lifespan of our finance-driven and terminally ill mode of production. With the help of Virus, capitalism attempts to reproduce itself by simulating conditions that are no longer available.

Here is a summary of Covid’s economic rationale. The September 2019 bailout of the financial sector – which, after eleven blissful years of Quantitative Easing, was again on the verge of a nervous breakdown – involved an unprecedented expansion of monetary stimulus: the creation of trillions of dollars with the magic wand of the Federal Reserve. The injection of this inordinate amount of money into Wall Street was only possible by turning the engine of Main Street off. From the point of view of the short-sighted capitalist mole, there was no alternative. Computer money created as digital bytes cannot be allowed to cascade onto economic cycles on the ground, as this would cause an inflationary tsunami à la Weimar 1920s (which ushered in the Third Reich), only much more catastrophic for a stagnant and globally interconnected economy.

Inevitably, the (cautious) reopening of credit-based transactions in the real economy has caused inflation to rise, hence further impoverishment on the ground. The purchasing power of salaries has been dented, along with revenues and savings. It is worth recalling that commercial banks are positioned at the interface between the magical world of Central Banks digital money, and the emergency-swept wasteland inhabited by most mortals. Thus, any wild expansion of Central Bank reserves (money created out of thin air) triggers price inflation as soon as commercial banks leak cash (i.e. debt) into society.

The purpose of the ‘pandemic’ was to accelerate the pre-existing macrotrend of monetary expansion, while postponing inflationary damage. Following the Federal Reserve, the world’s central bankers have created oceans of liquidity, thus devaluing their currencies to the detriment of populations. While this continues, the transnational turbo-capital of the elites keeps expanding in the financial orbit, absorbing those small and medium size businesses it has depressed and destroyed. In other words, there is no such thing as a free lunch (for us). The Central Bank’s money-printer works only for the 0.0001% – with the help of Virus, or a global threat of equal traction.

At present, it looks as if central bankers are indulging in the noble art of procrastination. The Fed’s board will convene again in early November 2021, with taper (reduction of monetary stimulus) announced to start in December. However, with the Covid bubble deflating, how will the elites deal with zero interest rates and direct deficit financing? In more explicit terms: what new ‘contingent event’ or ‘divine intervention’ will get them out of trouble? Will it be aliens? A cyber-terrorist attack on the banking system? A tsunami in the Atlantic? War games in Southeast Asia? A new War on Terror? The shopping list is long.

In the meantime, ordinary people are caught in a suffocating double bind. If credit needs to be made available to businesses, Central Banks must keep a lid on inflation, which they can do only… by draining credit! Runaway inflation can be avoided only by containing the disruptive effects of excessive money creation; that is, by bringing work-based societies to their knees. Most of us end up squashed between price inflation of essential goods, and deflationary liquidity drainage via loss of income and erosion of savings. And in a stagnant economy with inflation off the chart, each suppressed business transaction is channeled into financial assets.

A tool preventing liquidity from reaching the real economy is the Federal Reserve’s Overnight Reverse Repo facility (RRP). While continuing to flood financial markets with freshly printed money, thanks to reverse repos the Fed mops up any excess of that very cash it pumps into Wall Street. Effectively, a zero-sum game of give and take: at night, financial operators deposit their excess liquidity with the Federal Reserve, which delivers as collateral the same Treasuries and Mortgage-Backed Securities it drains from the market during the day as part of its QE purchases. In August 2021, the Fed’s usage of RRP topped $1 trillion, which led the Federal Open Market Committee (FOMC) to double the RRP limit to $160 billion, starting from 23 September 2021.

Here, then, is the elephant in the room: how will the Fed’s taper square with reverse repos of this astronomical magnitude? Is the much-anticipated reduction of monetary stimulus even possible with a global financial bubble fuelled by zero-interest-rate leveraging and structural borrowing? But, at the same time, how can central bankers continue to expand their balance sheet, when the double whammy of stagnation and rising inflation (stagflation) is just around the corner?

The logic of this monetary mechanism is perverse. The solipsistic ‘mad dance’ of financial capital has spun out of control well beyond its customary madness, and the day of reckoning is fast approaching. Can a devastating recession be avoided? Today’s political answer would seem to mobilise the ancient wisdom that ‘extreme times call for extreme measures’, which translates as: no crime against humanity can be ruled out when systemic implosion is so stubbornly denied. Is this not what history has always taught us?

The crisis we are experiencing is not epidemiological. In the first instance, it is meant to take care of the potentially cataclysmic financial exposure to toxic risk and the associated management of inflation. Suffice it to note that central bankers do not succeed in increasing interest rates to 2%, when in the 1970s they were brought up to 20% to combat inflation. However, as Covid reminds us, financial acrobatics of the current magnitude only work under emergency cover: blockades, lockdowns, restrictions, etc. The purpose of the cover-up is twofold: 1. To conceal the sinking of the Titanic (finance-driven ‘work society’); 2. To coordinate the implementation of a colossal monetary reset based on economic depression and centralised control of people’s lives.

Digital fascism

The consequences of emergency capitalism are emphatically biopolitical. They concern the administration of a human surplus that is growing superfluous for a largely automated, highly financialised, and implosive reproductive model. This is why Virus, Vaccine and Covid Pass are the Holy Trinity of social engineering. ‘Virus passports’ are meant to train the multitudes in the use of electronic wallets controlling access to public services and personal livelihood. The dispossessed and redundant masses, together with the non-compliant, are the first in line to be disciplined by digitalised poverty management systems directly overseen by monopoly capital. The plan is to tokenise human behaviour and place it on blockchain ledgers run by algorithms. And the spreading of global fear is the perfect ideological stick to herd us toward this outcome.

As public debates are silenced by censorship and intimidation, we are being escorted to a bio-techno-capitalist dystopia whose hellish character is likely to manifest itself fully with the next global crisis. This would justify the rolling out of Central Bank Digital Currencies (CBDCs), which, in the words of Agustin Carstens (general manager of the Bank for International Settlements), will grant “absolute control on the rules and regulations that will determine the use of that Central Bank liability [i.e., money], and we will have the technology to enforce that.” Digital cash linked to digital identity is shorthand for hi-tech monetary serfdom, which will be extended to the unemployed first (e.g., UBI recipients), and potentially to most of us. When Larry Fink (BlackRock CEO) says that “markets prefer totalitarian governments to democracies,” we should better believe him.

Separating the population on the basis of vaccination status is an epoch-making achievement typical of totalitarian regimes. If resistance is quashed, a compulsory digital ID will be introduced to record the ‘virtuousness’ of our behaviour and regulate our access to society. Covid was the ideal Trojan horse for this breakthrough. A global system of digital identification based on blockchain technology has long been planned by the ID2020 Alliance, backed by such giants as Accenture, Microsoft, the Rockefeller Foundation, MasterCard, IBM, Facebook, and Bill Gates’ ubiquitous GAVI. From here, the transition to monetary control is likely to be relatively smooth. CBDCs would allow central bankers not only to track every transaction, but especially to turn off access to liquidity for any reason deemed legitimate. The ‘digitisation of life’ project also includes an ‘Internet passport’ which, subject to periodic review, would exclude from the web anyone considered undeserving. Should the social credit score fall below a certain level, finding a job, traveling, or obtaining loans would depend on willing subjection to ‘rehabilitation programmes’. Presumably, there will be a black market for the outcasts.

A cornerstone of historical fascism was industry controlled by government while remaining privately owned. It is quite astonishing that, despite the overwhelming evidence of systematic revolving doors between public and private sector, most public intellectuals have not yet realized that this is where we are heading. Italian writer Ennio Flaiano once said that the fascist movement is made of two groups: the fascists, and the anti-fascists. Today, when most self-proclaimed anti-fascists are quietly or enthusiastically supporting the medically driven authoritarian turn, this paradox is more relevant than ever.

From conspiracy theory to successful paranoia

The epistemology of conspiracy theory drives much of today’s propaganda as a rhetoric of exclusion. The a priori rejection of ‘paranoid thinking’ leaves the official narrative as the sole bearer of truth, irrespective of empirical verification. Therefore, as argued by Ole Bjerg, “the real pathology emerges on the side of the mainstream reactions to so-called conspiracy theorists […] in the form of an epistemic state of exception, which threatens to undermine the functioning of public debate and intellectual critique.”[i] In other words, paranoia qualifies the position of those modern-day Torquemadas whose inquisition tribunals silence any ‘heretical’ thinking that dares to depart from the dogmas of emergency capitalism. The blanket accusation levelled at ‘paranoid Covid-deniers’ and ‘anti-vaxxers’ is symptomatic not only of the dissolution of the democratic bond, but especially of a top-down contagion of ideological sickness never experienced before on such a global scale.

As Jacques Lacan argued in the 1960s, capitalist power works by vanishing, by making itself secret and invisible, thereby dissimulating not only its authority but also its impotence. Everything seems to function spontaneously in capitalism, as if no-one was giving or obeying orders, but just following their spontaneous desires: “What is striking, and what no one seems to see, is that by virtue of the fact that the clouds of impotence have been aired, the master signifier only appears even more unassailable […] Where is it? How can it be named? How can it be located—other than through its murderous effects, of course.”[ii] Should this prompt us to enlist Lacan in the army of wacky conspiracy theorists? While the traditional master relies on symbolic authority, the capitalist master delegates authority to the intangible objectivity of its modus operandi. As made abundantly clear by neoliberalism, mastery is officially relinquished but simultaneously reasserted in its relinquished form, for example as ‘leadership’. And Lacan’s point is that this stratagem opens the space for deeper, more insidious forms of manipulation.

Just like corporate-owned mainstream media, today many Lacanians love to ridicule ‘conspiracy theorists’. Typically, they do so by citing Lacan’s motto that “there is no such thing as a big Other” – so, ultimately, no-one can possibly be plotting behind the curtains. Or, to quote from a recent piece by Slavoj Žižek, “there is no need to invent pandemics and weather catastrophes, since the system produces them by itself.” But these arguments miss the target, for they overlook how power functions precisely by occupying the ontological inconsistency of the big Other, manipulating it in its favour. Differently stated: if there is an unconscious, conspiracy and manipulation are inevitable. The success of any power-structure depends on its ability to weaponise the self-contradictory status of its universe of sense against the neurotic masses.

For all his Hegelianism, here Žižek misses the speculative character of (capitalist) power: systemic contradictions are the very foundation and lifeblood of any power edifice. The elementary speculative ruse of power is that it turns ontological inconsistency into condition of possibility. This is clearly visible in the ‘authoritarian turn’ of contemporary capitalism as predicated upon the ideological use of emergencies. Ultimately, these emergencies are real only insofar as they are capitalist emergencies, deployed at the right time to further the interests of capital. The assumption that they will escape or subvert the existing power structure ignores the extent to which they already function for capitalist power. My reading of Covid as a product of financial volatility is consistent with this speculative stance: pandemic contingency is capitalist necessity, and as such it was supported from the start by a formidable ideological apparatus.

The rhetoric of exclusion that animates the public discourse on Covid can be described through what Lacan, borrowing from Freud, named “successful paranoia”, which “might just as well seem to constitute the closure of science.”[iii] Essentially, “closure” refers to the positivistic belief in scientific objectivity, which is built on the rejection (foreclosure) of the ‘subject of the unconscious’ as source of questioning, doubt, and error. In the context of Lacan’s discourse theory, successful paranoia aligns with a hyper-efficient belief-system secured by the “curious copulation between capitalism and science”.[iv] The power of what today is unilaterally promoted as ‘real science’ (so real that it bans doubt, prohibits debate, and promotes censorship) is akin to the power of a new religion, as Lacan cautioned in 1974: “Science is in the process of substituting itself for religion, and it is even more despotic, obtuse and obscurantist”.[v] And capitalism banks on science & technology just as it capitalizes on health, one of the most profitable businesses in the world.

The ‘science’ we are ordered to follow is hijacked by the financial elites and their political cronies, thus working as a barrier against the awareness that ‘our world’ is crumbling. Real science, which continues to operate behind the thick curtain of censorship, would never impose dictatorial mandates like those still in place in democratic countries around the world. Blind faith in ‘Covid science’, then, betrays a desperate desire to hang on to capitalist power, inclusive of its authoritarian mutation. Yet the history of scientific progress shows that science is, fundamentally, a discourse emphatically centred on what it lacks. All major scientific advances are based on a principle of insufficiency: the awareness that truth as cause of knowledge is ontologically lacking. Or, to quote Lacan: “Il n’y a de cause que de ce qui cloche” (“There is cause only in what doesn’t work”).[vi] This is the science worth fighting for.

While the system’s driving presuppositions (the value-creating relation between capital and labour) have stopped working, the Covid decoy allows capitalism, once again, to suspend any serious enquiry into its structural sickness and ongoing transformation. The clinic of neurosis shows us the extent to which the average neurotic wants a master, whose role is to reassure them that their world lies on solid foundations. Neurotics are often so desperately attached to their power-structure that they turn into perverts to secure its functioning – like a masochist eagerly handing the whip to his dominatrix. Perversion works as a command to enjoy the power relation, and contemporary subjects often readily submit to power in a desperate bid to consolidate it. Unfortunately, the conservative structures of neurosis and perversion are often shared by ‘progressive minds’ (including liberal and radical leftists) whose commitment stops at virtue-signaling or participation in conspiracy theory shame games.

And yet, not all is lost. Despite the unstoppable convergence of science and capitalism in establishing a watertight belief-system that excludes dissent, our successfully paranoid universe will fail to totalise its structure. Paradoxically, the current crackdown on humanity may be the best chance yet for radical opposition to the coming regime of capitalist accumulation and its relentless emergency blackmail.

Notes:

[i] Ole Bjerg, “Conspiracy Theory: Truth Claim or Language Game?”, Theory, Culture & Society, 2016, pp. 1-23 (6).

[ii] Jacques Lacan, The Seminar of Jacques Lacan, book 17, The Other Side of Psychoanalysis, trans. Russell Grigg (New York: Norton, 2007), pp. 177-78.

[iii] Jacques Lacan, Écrits. The First Complete English Edition, trans. Bruce Fink (New York: W. W. Norton, 2006), p. 742.

[iv] Lacan, 2007, p. 110.

[v] Jacques Lacan, Freud Forever: An Interview with Panorama, trans. Philip Dravers, Hurly Burly 12, 2015, pp. 13-21 (18).

[vi] Jacques Lacan, The Seminar of Jacques Lacan, Book 11, The Four Fundamental Concepts of Psychoanalysis, trans. Alan Sheridan (New York: W. W. Norton, 1998), p. 22.

Here is The Hidden $150 Trillion Agenda Behind The “Crusade” Against Climate Change • Zero Hedge

Source: Zero Hedge

We now live in a world, where bizarro headlines such as the ones below, have become a daily if not hourly occurrence:

  • *TREASURY TO STUDY IMPACT OF CLIMATE ON HOUSEHOLDS, COMMUNITIES
  • *TREASURY LAUNCHES EFFORT ON CLIMATE-RELATED FINANCIAL RISKS
  • *BRAINARD: CLIMATE-SCENARIO ANALYSIS WILL HELP IDENTIFY RISKS
  • *BRAINARD: CLIMATE CHANGE COULD HAVE PROFOUND ECONOMIC EFFECTS
  • *MESTER: FED LOOKS AT CLIMATE CHANGE FROM VIEW OF RISKS TO BANKS
  • *FED IS TAKING THE RIGHT COURSE ON MONITORING CLIMATE CHANGE
  • *FED SHOULD CONSIDER CLIMATE-CHANGE RISK TO FINANCIAL SYSTEM

Now, in case someone is still confused, none of these institutions, and not a single of the erudite officials running them, give a rat’s ass about the climate, about climate change risks, or about the fate of future generations of Americans (and certainly not about the rising water level sweeping away their massive waterfront mansions): if they did, total US debt and underfunded liabilities wouldn’t be just shy of $160 trillion.

So what is going on, and why is it that virtually every topic these days has to do with climate change, “net zero”, green energy and ESG?

The reason – as one would correctly suspect – is money. Some $150 trillion of it.

Earlier today, Bank of America published one of its massive “Thematic Research” tomes, this time covering the “Transwarming” World, and serves as a massive primer to today’s Net Zero reality. The report (which is available to all ZH pro subs) is actually a must read, interesting, chock-full of data and charts such as these…

… and handy cheat sheets…

… none of which happen to mention China’s role in the “global climate change” crisis of course (after all, can’t offend Beijing and lose the biggest revenue stream now can we) and comes at a very precarious time for the green cause, just when soaring energy prices around the globe as a result of the escalating global energy crisis, threatens to crush any grass roots support to fight “global warming.” As report author Haim Israel writes:

This is the decade of climate action and COP26 will be the tipping point of the race to reach net zero emissions – the balance of reducing and removing carbon emissions from the atmosphere. To achieve it, a transition to clean technologies in all sectors at an unprecedented pace would be required, with the steering of governments and willingness of society. This is the last decade to act. Absolute water scarcity is likely for 1.8bn people, 100mn face poverty, and 800mn are at risk from rising sea levels by 2025. Climate migration could reach 143mn from emerging markets, driven by extreme weather.

None of that is new, of course – and while it is handy to have a centralized compendium of the data, a 5 minute google search can provide all the answers that are “accepted” dogma by the green lobby.

But while we don’t care about the charts, that cheat sheets, or the propaganda, what we were interested in was the bottom line – how much would this green utopia cost, because if the “net zero”, “ESG”, “green” narrative is pushed so hard 24/7, you know it will cost a lot.

Turns out it does. A lot, lot.

Responding rhetorically to the key question, “how much will it cost?”, BofA cuts to the case and writes $150 trillion over 30 years – some $5 trillion in annual investments – amounting to twice current global GDP!

At this point the report gets good because since it has to be taken seriously, it has to also be at least superficially objective. And here, the details behind the numbers, do we finally learn why the net zero lobby is so intent on pushing this green utopia – simple answer: because it provides an endless stream of taxpayer and debt-funded “investments” which in turn need a just as constant degree of debt monetization by central banks.

Consider this: the covid pandemic has so far led to roughly $30 trillion in fiscal and monetary stimulus across the developed world. And yet, not even two years later, the effect of this $30 trillion is wearing off, yet despite the Biden’s admin to keep the Covid Crisis at bay, threatening to lock down society at a moment’s notice with the help of the complicit press, the population has made it clear that it will no longer comply with what is clear tyranny of the minority.

And so, the establishment needs a new perpetual source (and use) of funding, a crisis of sorts, but one wrapped in a virtuous, noble facade. This is where the crusade against climate change comes in.

Much digital ink has been spilled on the philosophy and debate behind the green movement, and we won’t bore you with the details, but we will instead focus on the very clear, and very tangible financial consequences of a world where the establishment agrees, whether with democratic support or not, to allocate $5 trillion in new capital toward some nebulous cause of “fighting global warming.” Here are the highlights from Bank of America:

  • Will it be inflationary? Yes, expect 1-3% pa shock. This is for the next 30 years… over and on top of any already present inflation!
  • What are the bottlenecks? Geopolitics, climate wars and EM.
  • Do we have the resources? Nickel and Lithium are just two that could be in deficit as soon as 2024.
  • Is green technology really green? Not really (see below).

Drilling down on the absolutely staggering costs, at an estimated $150 trillion over 30 years, boosting funding sources to $5tn a year is equivalent to the entire US tax base, or 3x the COVID-19 stimulus this decade. Here are the details:

The energy transition to a net zero greenhouse gas (GHG) economy by 2050 will be a very expensive exercise, estimated by the IEA at $150tn of total investment, over a period of 30 year. At $5tn p.a, the IEA see it costing as much as the entire US tax base every year for 30 years.

Not high enough for you? Hang on then because…

BNEF has a higher estimate that the total investment needed for energy supply and infrastructure could be as high as $173tn through 2050, or up to $5.8tn annually, which is nearly three times the amount invested on an annual basis today.

Next follows the obligatory pitch from BofA which is reminiscent of a stalinist kolhoz pep talk from the 1950s, to wit:

… But it can be done, with technology, economy, markets and ESG joining forces. Exponential cost reductions in wind, solar and batteries technologies have made renewables the cheapest form of energy in areas producing >90% of global electricity. Market appetite is chipping in too. Labelled bonds and loans jumped to > $3tn this year, with $3 in every $10 of flows into global equities going into ESG, which will support climate-friendly investments, as well as funding new ones needed to further decarbonize our planet like green mining, green hydrogen or carbon capture.

We leave the best for last because at the end of the day, this was always about more debt, and more monetization, a process which by now even the shoeshine boy knows makes the rich richer and the poor poorer. Only this time the world’s wealthiest plan on robbing what little is left of the middle class under the guise of a noble crusade to defeat global warming… a crusade which will require over $500 billion in annual debt monetization by central banks each and every year, leading to hyperinflation in either risk assets or the broader economy, or both.

So if it sounds like “the crusade against climate change” is one giant con game meant to enrich a handful of kleptocrats here and now, while the nebulous benefits – and the all too certain debt and hyperinflation – of this revolutionary overhaul of the global economy are inherited by future generations, it’s because that’s precisely what it is.

Here is BofA’s startling admission of the above, as excerpted from the report’s Q&A on the Climate Change Conference (COP 26):

Q: What is the economic impact of net zero?

A: The inflation impact of elevated net zero funding will not be insignificant but the impact looks manageable at 1% to 3% per annum depending on central bank monetization rates, particularly if government spending is targeted and contributes to accelerate the rate of global GDP growth. The IEA also has a productive outlook for their net zero scenario, where the change in the annual growth rate of GDP accelerates by somewhere between 0.3% and 0.5% on a sustained basis over the next 10 years as a result of a shift to a green economy.

So much more QE for the next 30 years, check. What about inflation? Oh, there will be plenty of that too. As BofA admits, “green bond purchases could result in a 1% to 3% inflation p.a. shock”

To answer this question, we look at three separate cases. In our first case, the Fed, ECB and other central banks would subsidize all of the required infrastructure spending to decarbonize (translation: print the money). In a second scenario, we assume that they would absorb only half of the new bond issuance. And in a third case, we assume central banks take up only a fifth of all decarbonization spending onto their balance sheet. What is our key finding? If central banks only have to foot 20% of the bill or less, the impact of decarbonization looks fairly manageable with respect to inflation (Exhibit 108).

And just so readers know what to BofA looks “manageable” here it is: this is inflation on top of whatever inflation is already in the economy. Of course, if central banks have to “foot” 50%, 80%, or more, well… it gets much worse.

And this is where we get to the punchline: as BofA admits, it’s all about greenlighting the biggest QE episode in history!

We just see a peak of <1% additional inflation a year over a three decade horizon. Under more aggressive scenarios where central banks opt to absorb either half or the full decarbonization bills through quantitative easing, the risks of an inflation shock grow. Still, we think our third case is the most likely scenario, as it would be politically difficult to justify a much more expansive monetary impulse. True, while central bankers have expressed a desire to help green the economy, their corporate bond purchases have historically been restricted to crisis time policies through quantitative easing and remain well below purchases of sovereign debt. As such, any purchases of corporate green bonds would likely be limited both by the size of future purchase programs and their proportion relative to the overall corporate bond market, with slightly higher allocations under more progressive purchase policies that highlight environmental concerns.

And there you have it: just as covid was one giant smokescreen to “allow” central banks and Treasuries to merge and lead us to Helicopter Money and MMT, creating some $30 trillion in liquidity in the process, the “Net Zero” myth is what will perpetuate this endless printing for the next 30 years, a period during which the only benefits will be bestowed upon those who benefit from QE and money printing. That would be the richest. As for everyone else, well you great grandchildren or their grandchildren may (or may not) live in a cleaner world. We really don’t know, but if we don’t start printing money now it will be too late.

If that sounds scarier and more manipulative than any religion in human history, it’s because it is.

The full 114 page report, which we recommend to anyone who wants to know what is coming, is available to pro subs in the usual place.

A Message To Fauci: You Are In No Position To Dictate The “Greater Good”

Desultory Heroics

By Brandon Smith

Source: Alt-Market.us

How does a fraud like Anthony Fauci find himself in the highest paid position in US bureaucracy? Well, Fauci’s career is a rather shocking testament to the reality of our government and our era – The more corrupt you are the more favors and promotions you will receive.

Fauci is well known as a shameless opportunist among many within the medical research community. For example, the creator of the Polymerase Chain Reaction (PCR) Test, Kary Mullis, had nothing but disdain for Fauci. Mullis was an interesting figure who valued scientific honesty above all else. He often warned that his PCR test could be exploited to inflate infection numbers by identifying remnants of a virus in a person’s body without distinguishing whether or not they are actually “infected” (sick). Sadly, his test is now being used in this exact manner today to exaggerate infection rates of…

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Pope Francis Wants More Dictatorship

Political Reactionary

Pope Francis has again shown himself to be evil. This time, he has called on to social media to censor more “misinformation”. As Reclaim the Net writes:

In a virtual meeting during the weekend, Pope Francis called on tech companies to be more responsible about the spread of “misinformation.”

The Pope made the remarks during the World Meeting of Popular Movements, which, according to Reuters, is “a grouping of grassroots organizations and social movements which bring attention to inequality in labour, land ownership, health care, and other social issues in the developing world.”

The pope noted that “the pandemic had laid bare the social inequalities that afflict our peoples.” He added that “technology can be a tool for good, and truly it is a tool for good, which permits dialogues such as this one, and many other things, but it can never replace contact between us, it can never substitute…

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Increased risk of heart inflammation from Moderna Covid jab in young men, US regulator says, after suspensions in Nordic nations — RT World News

Additional survival tricks

https://www.rt.com/news/538181-increased-risk-heart-inflammation-moderna/

22 Oct, 2021 12:08

The US Food and Drug Administration (FDA) has reiterated the
risk of heart inflammation in young men following vaccination with
Moderna’s Covid-19 jab after a handful of Nordic nations halted its use
in this age group.

In an announcement released on Wednesday, the body shared that “ongoing
analyses from the FDA and the Centers for Disease Control and
Prevention (CDC) safety surveillance systems have identified increased
risks of inflammatory heart conditions, myocarditis and pericarditis
following vaccination with the Moderna COVID-19 vaccine.”

As
per the statement, this risk has been seen particularly following the
second dose, with symptoms appearing a few days after receiving the jab.

“The
observed risk is higher among males under 40 years of age, particularly
males 18 through 24, than among females and older males,” the notice read.


Also on rt.com
Finland halts Moderna vaccinations for young men over heart inflammation…

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Who Were The Oligarchs Who Plundered Russia?

VikingLifeBlog

Video on BitchUte

In the 1990s a handful of men benefited from the chaos and corruption of the fall of the Soviet Union by acquiring massive amounts of wealth and formerly state owned resources. These were the Russian oligarchs.

In 1996 oligarch Boris Berezovsky identified the Semibankirschina or 7 bankers who were effectively running Russia by that time. This video explains who they were, how they acquired so much power and what was ultimately the undoing of their kleptocratic rule of Russia.

Keith Woods

Posts withKeith Woodson VLB:

Beyond Civilization: The Philosophy of New Tribalism

Is The Nazbol Vortex Coming?

Censorship: 10 Reasons For Optimism

What Is Going On With GameStop Stock?

How The Normies Stole Wojak

Why Capitalism Means Infinite Growth

Soviet Whaling: A Study in Evil

The Jewish Reuben Brothers Who Pillaged Russia In The 1990s Top List Of U.K.’s Richest People.

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The Impending Mass Firing of America’s Unvaxxed Essential Workforce And Ensuing Chaos — Easy Money

Vermont Folk Troth

https://vermontprideblog.files.wordpress.com/2021/04/82eeed885bcab273.jpg?w=529

The government isn’t allowing natural immunity exemptions to their vaccine mandates because that’s what keeps you alive, healthy, strong and free. (Pedro Gonzalez) Zac Spolar found himself running around in a frenzy amid the COVID-19 surge in December, tending to three or four patients at once and laboring late into the night at a Los […]

The Impending Mass Firing of America’s Unvaccinated Essential Workforce And Ensuing Chaos — Easy Money

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Liberals and Firearms Never Mix

The Tactical Hermit

Union Says Baldwin Prop Gun Had Single Live Round

All I have to say about this is what do you friggin expect?

People often HATE what they are IGNORANT and/or SCARED of, and so it is with LIBERALS and FIREARMS.

Why a LIVE round was even close to a movie set still remains the Million Dollar Question.

I agree with the author in that I don’t think it was an actual LIVE round but a SQUIB round that malfunctioned and became a deadly projectile, just like with the tragic incident with Brandon Lee on the set of The Crow in 1993.

Like all possible WRONGFUL DEATH cases, we will have to wait for the AUTOPSY to give us all the answers.

What is hilarious to me is how liberal toilet paper rags like The Atlantic are trying to spin this as a “Inherent” Gun Safety Issue (Guns are Dangerous!) instead…

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