Good News: Solving ‘Climate Change” Leads To A Nationalized Financial System

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?