So what if the banks in their role as oil/gas/coal distributors are really out to not let anything spoil their party. They where managing the energy cookiejar for years, and made the economy boom so a maximum amount of poeple could benefit from the energy glut. Now that glut is over, gas is rising, but really there will be no replacement for all the present cars, trucks, etc. If you have to transition to gas, why not transition to renewables immediately.
But the banks want to keep going, they have to keep going because that is their business model. There has to be a market for them to control, and control the market they do. The only way to achieve that is to 1. Not allow any solutions to the energy crisis, and twart any independent solutions. And 2. Make sure unproductive people don’t have any money (which they would otherwise spend on the last reserves).
This is not only a banking survival strategy, but in a way a reasonable climate action strategy as well. Just claim finanial problems and cut money off of consumers, and you will emit less. But it is also a fight for dominance of the US, they need to keep control or China will take all the oil. Sadly the banks don’t think of it that way it seems.
The Federal reserve bank of the US has been feeding a frenzy since Greenspan began lowering interest rates which led to the ‘irrational exhuberance’ we all clearly remember. Bernanke continued the strategy and thus increased the power of banks to its current global level. The Banks are destroying Europe like they are destroying the US, through loans, derivatives and fraud.
It seems they will not stop to shrink the money supply and burden people with the notion of a debt, it just works so damn well. But if you want to see our global trillion dollar debt for real you have only to look up: It is the CO2 in our atmosphere. Burned oil, coal and gas is what is represented in the bank debt.
Half of the oceans and atmospheric CO2 contains a Carbon atom that was once bought with a bank loan. It escaped into our atmosphere and did not come back. The energy company that sold the Carbon did not give the money to the population in salaries or it would have to give away more Carbon for the same money. Thus a huge debt was hoisted upon the people, and it had only one physical form: CO2 in the sky (and H2O in our oceans).
If the world wants to rid itself of it’s ‘debt’, it needs to rid itself of the CO2. It will create energy, fuel, in many ways, that can drive the economy. We need to take action though, because the banks just want to sell the last cookie to the one that gives it the biggest cut. After the last cookie the banks will not be seen or heard from , just like Goldman Sachs and other Wallstreet banks are winding town US operations to move to Asia.