Discover more from Matt Ehret's Insights
The Imperial Fraud of Green Finance Explored
Months before anyone had even heard of the term ‘COVID-19’, the bank of England’s former Governor Mervyn King had delivered remarks that the world was heading towards a financial Armageddon. Scary words indeed, although few were paying proper attention. Within weeks, ruptures in the world financial system could be seen as a renewed age of bailouts were brought online as the federal reserve began overnight repo loans amounted to $50 billion/night infusions in the month of September 2019, and quickly amounting to over $100 billion/night infusions by the end of the year.
Amidst this accelerated blow out of the hyper over inflated global derivatives Ponzi scheme that even conservative estimates posit are 10-20 times more than the world GDP, then-Bank of England governor Mark Carney was laughing.
Things were moving towards a systemic breach… but that was always what was planned.
As Mervyn King was warning of Armageddon, the World Economic Forum was busy hosting a global crisis planning event called Event 201 following a “fictional” scenario of a novel coronavirus spreading across the world and justifying a total shutdown of the world economy. But of course, that was fiction and I’m sure Carney (Trustee of the World Economic Forum) doesn’t care about such things.
Carney the Eco Warrior
Between his work as Bank of Canada governor (2008-13), then head of the Bank of International Settlement’s Financial Stability Board from 2011-18 (taking the helm from his former Goldman Sachs colleague Mario Draghi) and then heading the Bank of England (2013-20), Carney had earned the name “Eco-warrior of Central Bankers”.
Carney had earned this moniker by proselytizing fervently for a new green financial system based around a new system of values that were entirely antithetical to anything which one would have assumed a Goldman Sachs investment banker to believe economics is about.
Rather than increase productivity said Carney and his technocratic ilk, the world must learn to decrease productivity by reducing our carbon footprints. Dirty energy sources that contributed to global warming would need to be phased out and in his Fifty Shades of Green (published in September 2019), Carney explained that: “the firms that anticipate these developments will be rewarded handsomely. Those that don’t will cease to exist”.
In Carney’s new calculus, set out by such operations as the Task Force on Climate Related Financial Disclosures, “deep green” companies that adapted to the new decarbonized normal would be rewarded, while those that wished to hold onto productive modes of behavior would be labelled “brown” and choked of credit, while being forced to pay impossible insurance premiums.
Essentially what Carney was championing was a new system that channelled flows of capital and investment to sectors that would reduce human life by shutting down cheap, reliable energy and infrastructure. Financially incentivizing depopulation while de-incentivising activities which contributed to human life or empowering the economic sovereignty of nation states.
Carney assured the world that the majority of the regions of earth would also be cordoned off as “conservation zones” never to be touched by the hand of human beings.
Introducing the Great Reset
Since Covid was launched onto the world officially in December 2019, a buzzing of confusion, fear, and a creeping fascism hiding behind “crisis management” has swept the trans Atlantic world as Carney’s World Economic Forum friends have called for a “Great Reset” of civilization. Under this reset, humanity’s entire system of values, behavior, traditions and beliefs was expected to be forever altered and new values, beliefs and myths would be created to govern society into the coming centuries. This narcissistic power tripping plan was even given the name “The New Great Narrative Project” by Mr. Fourth Industrial “You’ll Own Nothing and Be Happy” Revolution himself, Klaus Schwab in November 2021.
Describing the full spectrum transformation he wished to see sweep over the world, Schwab said: “the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions… Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a ‘Great Reset’ of capitalism.”
Great Reset Co-architect Prince Charles re-emphasized Klaus’ message saying: “We have a golden opportunity to seize something good from this [COVID-19] crisis. Its unprecedented shockwaves may well make people more receptive to big visions of change,”
While the supposed “pandemic” was the spark plug for this change, the intent behind the Great Reset was always to ram through the global climate change agenda by intimidating the nations of the world to “keep warming to within 1.5 degrees of pre-industrial levels” which somehow meant “reducing carbon dioxide emissions by 80% within 30 years”. How carbon dioxide was ever made the culprit for global warming, or how apparent “experts” were led to believe that global warming was even caused by human activity when no such evidence ever existed was an uncomfortable discrepancy between narratives and reality that many chose simply to ignore. These discrepancies would easily be brushed aside by significant doses of ridicule, statistical arguments unbounded by reality and corporate media echo chambers that spun feedback loops for the population and political class 24-7.
Green Energy Cannibalizes Itself
Here we are in the first weeks of 2022, and Carney’s green fantasy is showing its absurd self-contradictions as the European Union suffers from its worst energy crisis in history due in large measure to an over reliance on “green” woefully inefficient windmills and solar panels on the one hand and a shut down of nuclear power and fossil fuels on the other.
The new green-dominated government of Germany celebrates shutting down 3 of its last 6 functional nuclear reactors while clashing with pro-nuclear states like France over whether or not nuclear power should receive a “sustainable energy” label from the EU or go extinct as the greens and Carney would like.
From a mathematical perspective, it may appear that 1Gw of windmill power might be equivalent to 1GW of nuclear or 1GW of natural gas, but the reality now slamming down upon a crisis-stricken Europe is not mathematical in nature, but profoundly physical. Not only does it take thousands of times more land area to host a windmill park of a 1 GW nature (vs one average city block for a nuclear plant), but the quality of energy is so low that you cannot build a windmill using windmill energy. The vast capital intensive energy production and materials processing from mining, through the production cycle just cannot be sustained with windmill power. That’s a fact.
Not only that, but the rare earths and other strategic elements that must be mined for windmills and photovoltaic cells is far more harmful to the environment than anything you can imagine from nuclear power or even natural gas. Meanwhile, it is also a fact that the expired photovoltaic cells are entirely unrecyclable and of course immensely costly within layers of hidden subsidies covering the loses to both energy suppliers and consumers (ironically coming from the tax paying consumers through a myriad of indirect looting).
As if it wasn’t bad enough that the developed sector” has been convinced to commit suicide, poor nations who never had the chance to have industrial progress have also been told by the architects of the Great Reset and COP26 that they are expected to follow suite.
African nations have been told by “enlightened” technocrats that the resources under their soil cannot be developed in any way to benefit the people of Africa. Doing so, after all, would not be green.
Western financial institutions and lenders who have signed onto Carney’s Green Climate Compact have already made it clear that lending to “brown” carbon producing sectors whether in either the developed sector or global south is now verboten.
At best, African nations of the Sahara are told that they should be happy hosting solar panels in such Global Green New Deal boondoggles as Desertec or OSOWOG (One Sun One World One Grid) plans where their fates as green energy colonies exporting solar power to a dying Europe is the best their nations can hope for. The nations not blessed with lifeless deserts are told simply to die while “environmentally friendly” green energy manufacturers rapaciously continue to steel African raw materials.
President Buhari of Nigeria was one of the most outspoken African leaders who recently called out the fraud of green energies at COP26 which underlies the driving force of the Great Reset. In a November 1, 2021 Newsweek article, Buhari said:
“Dire warnings of the end of the world are as old as civilization itself. But each year as the countdown to United Nations Climate Change Conference (COP) begins, they grow in volume and intensity. Recently, senior United Nations officials raised the alarm of “world conflict and chaos” and mass migrations and institutional collapse should greenhouse gas emissions remain unchecked for much longer….
It is an inconvenient truth, but energy solutions proposed by those most eager to address the climate crisis are fuel for the instability of which they warn. No more clearly can this be seen than in Africa. For today’s 1.3 billion Africans, access to low-cost and reliable energy is the highest of all possible concerns….
Without extra and stable power, we cannot build the factories that will transform Africa from a low-job, extractives-led economy to a high employment middle-income continent. Children cannot learn for longer and better by battery light any more than by candlelight. No more than the Africa of today, the Africa of tomorrow cannot advance using energy production that intermittently delivers….
Wind and solar, the most fashionable of modern energy technologies, are flawed by their reliance on back-up diesel generators or batteries for when there is no wind for the turbines or sun for the panels.”
A Reset for the People or for the Bankers?
The fact is that we have come to a point where a reset is inevitable.
Despite media lies, the inevitable systemic meltdown which will usher in a reset was NOT caused by COVID 19. The collapse was also NOT caused by the earlier revival of bank bailouts to prop up ‘too-big-to-fails’, nor was it caused by anything that happened in the past 20 years.
This systemic crisis finds its origins nearly 50 years ago, when a decision was made to dump the pro-industrial national economic model that had defined the world during the post-WW2 years. When this industrial growth model of capitalism was destroyed, the fixed exchange rate system that had underpinned the US dollar (the basis for world trade) was also annihilated, as the dollar was sucked into the floating exchange rate speculative systems in 1971.
By 1973, the petrodollar was created further weaponizing both the US dollar and oil itself as tools of geopolitical warfare rather than servants of real development. Decades of deregulation were put into motion during this Trilateral Commission-run period as industries were outsourced abroad, infrastructure was increasingly neglected, de-regulation and record breaking mergers and acquisitions in finance and corporate sectors reduced nation states increasingly to the status of colonies of a supranational shadow government and citizens were turned into myopic consumers.
Today the chickens have come home to roost, and the consequences of 40+ years of anti-industrial consumerism, short term thinking, and tolerance for rapacious economic enslavement of much of the world under a logic of cheap labor and resource extraction of the global south is now blowing up.
We have a choice.
Either we follow the tune of those same financier oligarchs and their managers like Mark Carney who wish us to drink Hemlock as the cure for a 50 year hangover, and go for a deep green suicide OR we can follow the thinking of leaders like Buhari and other nations outside of our rules based cage. Across Eurasia and many other parts of the world, there are leaders who wish to restore industrial growth objectives, large scale infrastructure projects and cooperation by reviving nuclear power, hydroelectric projects, greening of deserts, fusion energy, and vast investments into natural gas.
Where one system is founded upon closed system logic (presuming absolute limits to humanity’s existence), the other is founded upon open system principles (presuming that constant growth is possible as long as new discoveries are constantly cultivated and incorporated into the productive industrial habits of mankind. Where one is defined by the fraud of “sustainable development” (aka: depopulation), the other can be better described as “sustained development” and sees value in the constant increase of our species in both quantity and quality- both on the earth and increasingly even beyond.
Matthew Ehret is the Editor-in-Chief of the Canadian Patriot Review , and Senior Fellow at the American University in Moscow. He is author of the ‘Untold History of Canada’ book series and Clash of the Two Americas (which you can purchase by clicking those links or the book covers below). In 2019 he co-founded the Montreal-based Rising Tide Foundation .