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By Jo Nova Banker warfare to destroy businesses but make the weather nicer…
It’s another emergency on the Australian Soviet-style electricity grid. An entirely profitable and law abiding operation is potentially about to be shut down, putting 4% of the national electricity supply at risk, because the bankers want to save the world, and the government is helping them. Who runs the country, is it the PM or the banker cartel?
Delta Electricity needs a bank guarantee so it can keep trading in our national electricity market, but 15 banks have refused to supply that because of their own show-pony ESG requirements, designed to impress their ski buddies at Davos. Essentially, the bankers want to decarbonize our electricity grid, and make electricity more expensive for the poor, but can’t be bothered to run for election, so they are running the country the way they want anyhow — voters be damned.
It’s even more absurd that it looks, Delta isn’t asking for a loan — it’s profitable, it has the cash. But the bankers won’t even hold the cash and promise to pay it back when needed. Delta’s current bank guarantee runs out on Dec 31, and after that it […]
By Jo Nova
Call it an anti-subsidy to kill the product the customers want, and call it an anti-tariff to help foreign manufacturers
The Suicide of The West continues apace.
All around the West governments are concocting rules that force car manufacturers to sell a certain ratio of EV’s to petrol cars. In the UK if they breach the ratio they’ll be fined a savage £15,000 for every petrol car. In other words, if customers don’t voluntarily want to buy as many EV’s as the government thinks they should, the rules will force the car manufacturers to restrict the petrol car sales. Obviously, what’s left of the free market will pay big money for the rare and desirable petrol cars that are permitted to be sold. Soon only the wealthy will be able to afford them, while the riff raff have to catch a bus.
One Ford manager is helpfully telling the world what these rules mean:
Ford threatens to restrict petrol car sales to meet the UK’s EV targets
By Tom Jervis, Auto Express
Introduced at the start of this year, the ZEV mandate requires manufacturers to ensure that a minimum percentage of their […]
By Jo Nova
Shh! The Monster Banker Funds are secretly saving the World
By sheer coincidence the same day the Australian Treasurer said we’d have to pump up the subsidies on climate targets, a group of largely foreign bankers called for the Australian government to “hurry up with emissions reduction plans “.
The foreign investment bankers market themselves as “Australian and New Zealand investors” but boast they have $30 trillion in assets, which is a bit of a red flag when the GDP of both nations together is $2 trillion USD. It turns out the blandly named Investor Group on Climate Change (IGCC) is only 10% Australasian:
IGCC represents investors with total funds under management of more than $3 trillion in Australia and New Zealand and $30 trillion around the world. Investors welcome the development of internationally aligned climate risk disclosure requirements in Australia. —IGCC Submission to the Australian Treasury Feb 2023
But being 90% foreign doesn’t stop them putting in submissions to Parliament or pretending to be locals. Even The Australian thinks they are Australian:
An Australian investor group representing members with more than $30 trillion in assets says plans being developed by the […]
Octopus in the city image by Эльвина Якубова
By Jo Nova
23 US state Attorneys General blocked the insurance wing of the global climate police
After the States fired the first “Antitrust” volley across the bows, the largest insurance giants in the world ran for the exits. Within weeks, what was a 30 member alliance became a shell of a dozen minor insurance companies. The NZIA has effectively admitted defeat — announcing that members won’t need to set or report on their carbon targets. Phew.
In 2021 many stars of the insurance world rushed to join the global climate activist cartel — the Net Zero Insurers Alliance (NZIA) — which would have turned their industry into another branch of the global UN and WEF climate police. The plan was to make it hard for unfashionable businesses to get insurance unless they went “Net Zero” and followed the policies the UN and WEF billionaires wanted. Democracy be damned. This effectively would have dragooned the coal miners, airlines, farmers, and publishers — practically everyone who needs insurance, into setting “Net Zero” targets above and beyond their legal requirements. All businesses would have to say the right prayers to the […]
By Jo Nova
James O’Keefe formerly the soul of Project Veritas is back — he’s set up O’Keefe Media Group (OMG News). One of his insiders filmed Serge Valay, A recruiter at BlackRock, bragging about how they work.
“It’s not who the President is, it’s who controlling the wallet of the President.” “Who’s that?” she asks. “The Hedge Funds, BlackRock, the banks. These guys run the world.”
..you take a big f– ton of money and then you can start to buy people. Obviously we have this system in place. First, there’s the senators. These guys are f***ing cheap. You got ten grand? You can buy a senator.
BlackRock don’t want people to notice them:
“BlackRock don’t want to be in the news. They don’t want people to talk about them. They don’t want to be anywhere on the radar.”
“Why not?” she asks.
“I don’t know … I suspect because it’s easier to do things when people aren’t thinking about it.”
What kind of things are easier to do in the dark? Things other people won’t like.
News – he says, is propaganda. If you hear […]
By Jo Nova
Make no mistake, the UN “finance” cartel is the supermassive black hole at the centre of the climate-mafia galaxy.
The UN Environment Programme brags that across insurance, banking and investing, it has over 450 members representing more than $100 trillion dollars worth of carrots and sticks to beat up politicians and businesses with. These are the cogs and levers of the halls of global power.
Image by Amy from Pixabay
It’s a UN programme, but the first “target setting” rules were launched at Davos at the latest World Economic Forum (WEF) meeting — the skiing holiday for corporate rulers and their celebrity minions. The Big unelected political powers holidaying with the richest people in the world. Democracy on a barbecue.
In 2021 many Insurance giants had rushed to join the global climate activist cartel designed for their industry — the Net Zero Insurers Alliance (NZIA) — which would have turned the insurance industry into another form of climate police answerable to the UN or the WEF. But it’s all coming undone now, thanks to the 23 US States who are pressing the Antitrust button. I mean, imagine if all the competitors in an industry got […]
By Jo Nova
Exxon was told to jump through circus hoops like a performing seal and report the risks of NetZero to Exxon shareholders. But Exxon pushed back by pointing out that NetZero-by-2050 is so impossible it will never happen, and therefore the risks are not even worth assessing. Furthermore, and rather damningly, Exxon said, society would be unlikely to “accept the degradation in the global standard of living required“. Exxon has taken was was supposed to be another PR win for the narrative and turned it into a media weapon.
This is exactly why the Big-Gov-Corporatist cartel wants to co-opt or destroy independent profitable corporations. In this case, companies that don’t need Big-Gov are free to point out the hypocritical inanity and absurdities which the lap-dog dependent industries like wind power and solar cannot.
Sadly, companies like Exxon still need to be brave because Big-Gov is so big, it is always the largest potential client and holds the sword of mendacious legislation, licensing and regulation as well.
Exxon Crushes Progressive Dreams That “Net Zero” Has Any Chance By 2050: It Would Mean Collapse In “Global Standard Of Living”
By Tyler Durden, ZeroHedge
The US supermajor […]
By Jo Nova
Peer Review has been a sixty year experiment with no control group
It’s touted as the “gold standard” of science, yet the evidence shows Peer Review is an abject failure.
There are 30,000 scientific journals that publish nearly 5 million articles a year, and the only thing we know for sure is that two-thirds of papers with major flaws will still get published, fraud is almost never discovered, and peer review has effectively crushed groundbreaking new discoveries.
By Adam Mastroianni, Experimental History
The rise and fall of Peer Review
Why the greatest scientific experiment in history failed, and why that’s a great thing
For the last 60 years or so, science has been running an experiment on itself. The experimental design wasn’t great; there was no randomization and no control group. Nobody was in charge, exactly, and nobody was really taking consistent measurements. And yet it was the most massive experiment ever run, and it included every scientist on Earth.
It seemed like a good idea at the time, instead it was just rubber stamp to keep the bureaucrats safe. As government funded research took over the world of science after World War […]
By Jo Nova
A “win” for predatory capitalism and government mis-interference
Liddell power station (foreground). Bayswater power station (rear).Photo NSW DPI
Yesterday, for the last time the final turbine was switched off at Liddell Coal plant after 52 years of operation. The NSW government gave it away for free in 2014 — bundled like a McHappy Meal in with the sale of Bayswater Coal, valued at $0. Governments saw old coal as worthless, at least until 2017 when everyone saw the bloodbath when the Hazelwood coal plant suddenly closed and electricity prices suddenly rose 85%. Then they started to panic a little — even Malcolm Turnbull (our Renewables lovin’ PM) started openly pressuring AGL to sell Liddell so it could keep running until his pet project the Snowy Hydro 2.0 could start. Chinese owned Alinta turned up with $250 million dollars and was willing to put in a billion to repair the station and extend its life up to 2030. Despite that bonanza, AGL refused to take the money. It was determined to run it into the ground and shut it down instead. Now it’s determined to blow it up as well. The Demolition crew is already appointed […]
by Jo Nova
Bankers are just nice people
A major banker, worth $2 billion, says the government needs to take land away from poorer people and build machines on it to change the weather.
CEO Jamie Dimon says he “is a red-blooded, patriotic, free-enterprise and free-market capitalist” while he promotes government control of markets, land, clouds, wind and rain. ” We simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives” he complains, suddenly unhappy with the free-market, and sounding like a red-blooded communist on steroids instead. Even the Soviets didn’t try to micromanage the planet’s weather.
Dimon’s annual letter to Shareholders starts with all the right catchphrases. He comes in “defense of democracy and essential freedoms, including free enterprise”, but he doesn’t seem too interested in private property rights. He’s exasperated with people who won’t consider a carbon tax to stem climate change, though he doesn’t say anything about people who have considered it and think it’s Shamenistic VooDoo.
h/t To John Connor II, Climate Depot and Marc Morano
Seize property to build wind and solar farms, says JP Morgan chief
by Simon Foy, The Telegraph, UK
The […]
By Jo Nova Vanguard abandons the UN led Net-Zero Climate Finance monster group
Only a week after Ron de Santis pulled $2 billion in Florida funds from BlackRock, Vanguard, the second biggest asset manager in the world, has abruptly pulled out of GFANZ.
Vanguard has $7 trillion in assets under management, and GFANZ is a conglomerate cabal of bankers insurers and asset managers that has snowballed into a 550 member cabal with a jawdropping, obscene, 150 trillion in assets. Together, for a moment, they almost created the illusion of a One World Government by Bankers. After all, the GDP of the United States of America is only $23 trillion. So when an organization with six times the pulling power tells the world to go Net Zero, which company, which government would say “No”? Well, Ron de Santis did — and 18 other US states are working on it too.
The key weakness to the $150,000 billion dollar GFANZ monster is — as I said last week — that it’s an illusion. They are wielding other people’s money — using their clients own pension funds to indirectly punish their own clients, and the good guys […]
by Jo Nova Banks suddenly threaten to abandon the Glasgow GFANZ “climate action” group
It was the massive miracle-funding coalition of Glasgow but it is already starting to unravel as the banks figure out that conspiring to force “climate action” puts them at risk of antitrust suits.
A month ago I wrote that 19 US States were pointing out that it’s not OK for asset managers like BlackRock and co to join together in cartels to block investment in fossil fuels. These corporations bragged about belonging to groups like GFANZ (the Glasgow Financial Alliance for Net Zero) as if it made them into saintly environmentalists. But belonging to the group meant they are also effectively restraining trade, reducing competition and acting against the interests of their clients and against the wishes of voters.
Don’t underestimate how important this is or how ugly these monster cartels are: GFANZ has attracted some 500 members which control $130 trillion in assets. But the carbon targets they are told to aim for are set by the UN through something called the Race-To-Zero campaign. So this is a quasi World Government in cahoots with world bankers. Like a Great White Shark meets a pod […]
The rise of the tech giant billionaires, the crime, corruption, wokery, war, inflation, climate witchcraft, and the Big-Pharma reckless experiment — is all made possible by the same thing, and it’s been coming for fifty years.
Everyone under 40 has lived their entire lives in the fairy-land-of-plenty borrowed from the future. But all bubbles come to an end.
The rot started with a corrupted currency, and now infects every corner of the world — weakening markets and minds and concentrating power obscenely. When our medium of exchange is undisciplined, everything else is too. There is injustice built right in to Fake IOU’s made from thin air — especially when some can borrow big and early and at low cost, while others have to wait to earn them slowly an hour at a time. In the inflation race, speed is everything. They devalue the incentives that drive people to make things better, faster, and stronger. It punishes the prudent hardworking savers, and feeds speculative greed.
This is what BlackRock’s influence came from, and Gates, Zuckerberg, Dorsey, and the WEF. All of them rode the wave of easy money and easy loans. Through predatory purchases on credit, they were able to buy […]
Finally 19 US States are hitting back at BlackRock the financial behemoth, and not a day too soon.
A light in the tunnel…
Americasroof
By a pure dollar reckoning, BlackRock is the third largest “foreign entity” in the world, after the USA and China, but its core business, its reason for existing is a contradiction: it claims to be an asset manager but acts like a political power. With neither citizens, land nor an army, it’s a kind of toxic financial bubble on a roll — part illusion, but still swallowing economies, minds and electricity grids.
BlackRock is supposedly investing funds on behalf of its customers while using those same funds to promote Woke political agendas that its management may like, but that its own customers may disagree with. It’s a totalitarian force that consumes democratic choices by force of money. Finally some state legislators are calling out the contradiction. Does BlackRock serve its customers or “the management of BlackRock”?
BlackRock is enormous, but it’s not untouchable, and if retirees and State pension plans pulled their money and filed writs for breaches of law, the activist-agency could vanish overnight. BlackRock has $10 trillion in assets to wield […]
Starving for any attention, the carbon-haters need to find a reason to get into the inflation debate. CO2 keeps rising but crops are up, forests are greener, tropical islands are growing, mangroves are expanding, and the world is in more danger of being overrun with cheap soy and corn than by rising seas. Whatever. The disaster-bus will find a way to blame fossil fuels for everything that’s bad, as if through some miracle EV’s and windmills will make pork cheaper.
It’s a cult:
Climate crisis is ‘battering our economy’ and driving inflation, new book says
Edward Helmore, The Guardian
Forget Ukraine, coronavirus, corporate greed and “supply chain issues”, when it comes to inflation the climate crisis is the real, lasting, worry, according to a new book, and one that’s only likely to get worse. Climatenomics lays out how ‘supply chain disruptions’ has become a euphemism for the effects of climate change
“I don’t think people have realized that climate change is an economic issue now because it’s always been seen as an environmental, health or social issue,” says Keefe. “The fact of the matter is climate change is battering our economy.”
Any long term […]
Hopefully Elon Musk will give him a job.
Stuart Kirk, head of “responsible investing” for HSBC let rip at the doommongers of finance with a speech called “Why investors need not worry about climate risk”. He was speaking at A Moral Money Europe Summit, held by the Financial Times and is clearly fed up with listening to hyperbole and being told to analyze and worry about trivial long term future events. “Last night Target fell 25% — twentyfive!” … but I’m being told to worry about something coming 20 – 30 years down the track.” Other speakers were unceremoniously dispatched. He complained climate risk has become so hyperbolic no one knows how to outdo it. “Sharon [a speaker from Deloittes] said “we’re not going to survive!” But no one even looked up and ran from the room.”
Dangerously (for him) he also explained how the central banker models bury massive GDP and interest rate shocks in their economic forecasts of climate risk, otherwise they can’t generate bad news and headlines. Apparently, it’s all in the fine print that nobody mentions. They’re sounding more and more like climate models all the time.
That was last week. This week he’s been suspended.
[…]
Another Project Veritas operation exposes what’s going on behind the lines at Twitter and the most astonishing thing is not the political censorship but how Twitter is run like a Day Care centre for student activists. It’s not a profit making business, so much as a university club with salaries for people who may only work 4 hours a week and brag about being “left left left” and as “commie as f**k”. If they need days off, they just don’t turn up to work. Sometimes they take months off. “Mental health is everything”.
No wonder Twitter employees hate Musk and are stress eating — They have jobs where they get paid to take a month off, and no one cares how efficient they are, or what their sales figures or expenses were. Nice work if you can get it.
Which begs the pointed question of who is paying for all this?
If Twitter isn’t there to make money, who is pouring the dollars in, and is the political censorship the whole point? And if that’s the case, and it sure looks like it is, TWTR is a listed trading stock and the words fraud and fiduciary duty seem apropos. If […]
Character is destiny Daniel Hannan explains that Putin was undone by corruption
Bribery is no way to build an empire. Putin’s intelligence and military bureaucrats didn’t believe in the Russian Empire, and they kept the cash they were supposed to use for bribes in Ukraine. Then lied about the bribes and ultimately left Putin in a precarious position. But they too are vulnerable. Indeed Ukrainians are suffering. Russians are suffering. There are few winners and many losers.
Great civilizations are built on trust. Millions of people work most efficiently when they all know the rules, and everyone has a voice. We used to have that.
Comments here by David Evans on the article by Daniel Hannan
The details are only now emerging, and they help explain why Russia is losing in Ukraine and, indeed, why autocracies are often terrible at fighting wars.
By annexing Crimea and taking Donbass, in 2014 Putin tipped Ukraine into becoming majority western-oriented:
Until 2014, Ukraine was fairly evenly split between, to borrow 19th century Russian terminology, Westernizers and Slavophiles. Some Ukrainians wanted to join the institutions of the free world, including NATO. Others preferred, if not a merger with Russia, at least a special […]
The ante was upped
Just like that: The US froze Russian bank accounts. It broke all the rules. In return, Russia is freezing gas deliveries unless people pay in roubles. The US played a very big wildcard, and Joe Biden and the USA may lose in a big way. The World’s Reserve currency is the US Dollar, and it’s a powerful tool for the US. But if the dollar were weakened, by say 50 years of inflation, and the trust it is based on was blown, the bluff may be up.
One thing leads to another. Who will blink first?
Does Russia need the money more than Europe needs the gas?
Europe Is Facing Supply Disruptions As Russia’s Gas-For-Rubles Deadline Looms
OilPrice:
Russia’s insistence that its “unfriendly” nations pay in rubles for Russian natural gas risks disrupting European supplies as soon as this week as the deadline set by Putin for moving to ruble payments is drawing closer.
Europe, which depends on Russian natural gas for more than one-third of its demand—with some countries, including the biggest economy Germany, depending on Russia for half of its consumption—has rejected the gas-for-rubles idea, saying it […]
The most dangerous Big-Government Qango of all may well be the Central Banks (not the NIH). Money drives all the incentives across national economies, but one small unelected group decides the price of money, and all corruption flows downstream from there. Ponder how they set the temperature that drives the global currents of goods, resources and opportunity. They feed Big Government, Big Pharma and Big Tech.
Saddle Up: There is no hiding inflation. Despite the global economy grinding to a halt in a pandemic, house prices set surging records and paradoxically the Dow hit all times highs.
It is just supply and demand. As more dollars are printed, a bigger supply of money competes for the same number of goods. And boy, have they been printing money.
It’s a temporary spike they say:
This is the money base of USD, a rough measure of “how many dollars there are”.
US St Louis Federal Reserve, Money Base graph 1918-2008 | Source
For perspective, below is the history of the growth in US Dollars since 1918 up until the GFC. The US left the Gold Standard in stages between 1913 and 1971, and the growth in money supply since then […]
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JoNova A science presenter, writer, speaker & former TV host; author of The Skeptic's Handbook (over 200,000 copies distributed & available in 15 languages).
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The nerds have the numbers on precious metals investments on the ASX
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