Well, gee, I thought this was simply about reducing carbon emissions and saving the planet. No?
Climate change mitigation is creating a roadmap to a nationalized financial system
A Biden administration executive order issued in May required the Financial Stability Oversight Council (FSOC) and its member agencies to report on the risks that climate change pose for the financial sector and to recommend the measures needed to mitigate the purported risks.
The October report garnered little press attention even though it represents the first step in the administration’s plan to use Dodd-Frank Act powers to effectively nationalize and thoroughly politicize the financial system. Existing statutes will be used to promulgate new financial regulations that will allow the administration to control the allocation of investment capital under the pretext of controlling financial sector systemic risk.
What could possibly go wrong? Further, I’d like an apology from all those Warmists and Skeptics who said I was crazy in saying that this has little to do with science and everything to do with governmental power
The real paydirt for climate change doomsayers is transition risk. Transition risk is the risk that someday in the future, new information will convince government policymakers and consumers that the climate has reached “a tipping point” and that drastic steps must be enacted to reduce greenhouse gas emissions if humanity is to be saved from a global warming catastrophe.
According to this scenario, governments will respond by enacting policies that prohibit activities that generate emissions to prevent “The Day After Tomorrow” from happening. Households and financial institutions will immediately try to sell any asset linked to emissions-generating activities causing massive ”fire sale” losses for households and financial institutions. The crisis will intensify as these losses cascade through the financial system.
And Los Federales take over.
The real goal is to control the allocation of capital in the financial system using the regulatory powers of FSOC members. The regulatory agencies will impose new rules that restrict financial institutions’ ability to fund greenhouse gas emission-intensive activities. They will require businesses to disclose government-approved measures of their greenhouse gas emissions and then take steps to discourage investments in business or consumer loans linked to high greenhouse gas emissions.
But, don’t call Warmists authoritarian, you know. Remember when Biden and all those around him said he was a moderate? How you feeling about this stuff now, right side #NeverTrumpers?
The Hill has a good reputation even if very slightly right-leaning. But this editorial/essay comes from the American Enterprise Institute, a right-wing biased group with a “mixed” rating in terms of factual reporting.
The essayist started with a fact:
The rest is a wound-up conspiracy tale about nationalizing the financial system!
So what?
#LGBFJB
Bwaha! Lolgf
Well Teach for the last year you have been asking if it eas an insurrection why was nobody charged as such
Today 11 OathKeepers were charged with sedition and at least one is already cooperating with the DOJ
Wow. Seditious conspiracy against the poor schmucks who planned the attack. Hope none of those guys have texts or calls with GOP pols.
I’m old enough to remember when we were taught, in high school, that the Alien and Sedition Acts were a bad thing.
The next Republican President should, on January 20, 2025, pardon every last one of the Capitol kerfufflers.
Our soon-to-be-disappointed host wrote:
I hope that you aren’t holding your breath waiting.