In the news “Lagarde puts green policy top of agenda in ECB bond-buying”, she claims the ECB “wants to ‘explore every avenue’ in fight against climate change”. This is like a pig farmer claiming to only want to drive vegetarianism by selling its pigs. Banks drive fossil fuel consumption because money is carbon credit. We have written about this petrodollar nature of all present western currencies extensively. You can’t extend credit to start a building project if your credit does not buy diesel for trucks, cement for concrete, gas/coal for steel refining etc. etc. Money distributes fossil fuels to producers and consumers.
It has to be that way because there is no alternative yet. We mean no readily available store of energy that can be allocated and released to do work. This is because renewable energy storage is fought by banks who make patents disappear and who fund rediculously wastefull (Methane friendly) solutions like Hydrogen. Renewables need either to be able to be deployed more cheaply or find a way to store the energy more conveniently. This will all happen soon, no worries.
Reading Lagarde’s comment a different way it will make a bit more sense : She wants to control renewable energy production, so that banks can extend renewable energy credit. This is a risk, because banks are lazy and relationships play a large role, meaning lifestyles of people need to be maintained, which is the reason for the present inertia when it comes to banks and renewables. Always more obstacles, lobbied confusion, pro fossil decisions etc. etc. Banks want cashflow, fossil provides it! We wrote about how we need to separate out the trade of RE from that of fossil fuels and labour idealy, by introducing different currencies for each : The Euro, de Auro and the Joule.
We don’t want to see the continuation of an elitist banking system that has this crazy privilige to create fossil at will and determines our planets future by making excuses and exhagerating risks when it threatens cashflow. LIES are what makes banking possible, and you can see by the goons on the anti-social ‘right’ banks don’t give a damn who lies as long as they are left alone and fossil credit (where fossil fuels have the convenient quality of being highly stabile while stored) cashflow is king. Renewable credit is a more complicated issue and dropping RE energy prices mean that ownership of RE sources (which makes cashflow disappear) becomes more widespread.
So we are seeing a battle for sovereignty between banks and citizen/states. If the banks get their way all renewable energy sources will be grid tied, forced to follow the rules, the energy will be traded over markets where off shore wind drives down prices. The assault on land based privately owned renewable energy is clear and ongoing. Solar parks are chased away because they waste valuable land (which would otherwise remain unused), the opposition in the North of Holland is clearly motivated by the ambition of local politicians to be part of they fake gas friendly ‘hydrogen economy’, even the leftists there are for biomass. The battle is waged in a subtle way, for example by changing the fossil content of the energy supply (less fossil Joule/kWh because of the switch to gas and addition of Wind), homes are reappraised to be more energy efficient and adding solar panels does less to increase their energy performance rating.
The battle is between the freedom of the individual to not need money, and the bank that wants everybody to need money. The state is (at least in Holland) so clearly inflitrated by people who consider economics a healthy theory, who think money should be the measure of all things, in short the religion the USA has been indoctrinated into by Wallstreet, that there is little hope from there. Banks occupy most contries and they will never give in as long as their achilles heel, our need for their currency, remains intact.
So the title of this piece : Can Banks fight climate change? has to be answered with : NO. Not in their present form.
Now its stupid but let’s imagine banks having an epiphany and meeting up in Switzerland to discuss the situation, having the following conversation :
“Right we are on track to load the entire planet in debt, control it all”
“Yeah great, but my son is worried about the effects, why do we keep financing emissions and why after a century of wealth are we ourselves not even secure”
“That’s the system we run, one of equal chance and merit and opportunity, a competitive economy”
“Yes but not for us now right? We have control over the monopoly!”
“True but to ensure continuation we have to make ourselves vulnerable too”
“No we don’t actually, we control this monopoly, we don’t only have to follow the recipy (divide fund indebt control), we can build a parallel ecosystem, in fact, we should because in decade or so people will spread out”
“How so?”
“Because of internet and energy being available everywhere”
“Our plan was to lock people in cities where they will be kept dependend and generate cashflow. That will also allow for high efficiency while we monetize everything else (or it goes to shits due to climate change)”
“Or : We could front run this development by creating new cities where they are not viable now, more or less self sustaining, but modern and advanced, we can fund the detachement of existing cities from dependencies”
“And kill our business? We will be replaced by people who don’t doubt economics and don’t look for alternatives. In fact I now have a mind to replace you”
“If we did it, would your lifestyle change? If we just took regions and cities etc. of our books and put them in other books, with different principles, would you personally be hurt”
“No, why?”
“Have you ever cared about anything but your personal lifestyle? Didn’t that get you where you are now?”
“True”
“So why not do it? It’s an opportunity, we need to crack this world. Do you want to run city-gulags for the rest of your carreer, deal with assholes like Dick Benschop who seems to think he personally created all the oil for planes to burn no matter who gets Corona?”
“I guess we could keep a group of debt-cattle in cities to finance our lifestyles, and also have zones be exempt from our fossil-credit predation. It would still be better than have those become a threat. But there can be no examples. No city upon a hill.”
“Not for all maybe?”
What this amounts to is extraeconomic zones or roboeconomic zones we wrote about here. An extraeconomic zone is a zone that is prohibited from trading with the outside world. It has to be self sufficient. It can be a massive plantation or CO2 capture operation with farms etc. a bit like a Mars colony on Earth. But it can also be as solar drying house that needs no outside electricity or other resources, or a 100% renewable powered city that does not buy or sell electricity to the wider grid. The point of extraeconomic zones is that they generate resources (methane, plastic, biomass, fresh water) but don’t allow its consumption. If produced resources are consumed we call it a roboeconomic zone, which simply does not use any fossil or climate damaging resources.
As banks dominate right now, to the highest level of policy making they have to create room for the alternative. They are likely not to do that as you see form the discussion above, because bankers don’t care about their children. Its the cut-throat atmosphere banking creates that locks it into a super defensive posture, and this is what makes it vulnerable, in this case to the ravages of climate change. It needs to see it is an animal terrified by its own reflection. Some new neurons have to grow in the brains of Lagarde and others at the top that wonder if it would actually be bad to create a new track, which when populated and developed, stands to exist for as long as humanity will.
Renewables make it unnecessary to squeeze a tax out of people. You can be rich, wealthy, healthy and in control without a ‘consumer farm’ to generate cashflow. You can mitigate the threat by distributing the renewable based wealth and managing the sharing of technology between regions and commuities, all with the latest technology.