And which one do you supposed fedgov would choose? I'm thinking whatever gives them the most control.
Posted on 09/30/2022 8:47:07 AM PDT by Red Badger
The Federal Reserve has taken a major step in the direction of facilitating an ESG compliant monetary network that effectively acts as a parallel system to that of the Chinese Communist Party’s infamous social credit scoring system.
The Fed said in a statement Thursday:
“Six of the nation's largest banks will participate in a pilot climate scenario analysis exercise designed to enhance the ability of supervisors and firms to measure and manage climate-related financial risks. Scenario analysis—in which the resilience of financial institutions is assessed under different hypothetical climate scenarios—is an emerging tool to assess climate-related financial risks, and there will be no capital or supervisory implications from the pilot.”
In other words, The Fed is working with the big banks to monitor their ability to comply with the ruling class’s preferred enviro statist technocratic tyranny.
The unaccountable people behind the American money printer claim that this exercise is “exploratory in nature and does not have capital consequences.”
The statement adds that the “scenario analysis can assist firms and supervisors in understanding how climate-related financial risks may manifest and differ from historical experience.”
What exactly does this mean?
The Fed is clearly leaning in to the climate hoax narrative, or the pseudoscientific idea that humans are catastrophically impacting the climate, but not because they somehow care about the environment. The climate narrative is the chief rhetorical facilitator for the ESG (Environmental, Social, and Governance) movement.
ESG acts as a trojan horse for the continuing centralization of the American financial system. ESG finance, popularized by hyper political asset management behemoths like BlackRock and Vanguard, acts to prevent outsiders from challenging the regime-connected insiders on Wall Street and in Washington, under the guise of acting to manifest a healthier planet. In other words, pro-ESG institutions are committed to attacking free market principles by means of deception, preferring the CCP-style “stakeholder capitalism” that allows for a small group of technocratic elites to make broad determinations about society.
Unsurprisingly, the legacy media has thus far cheered The Fed’s plan, with The New York Times reporting “that it often lagged behind its global peers when it comes to talking about and coming up with a plan for policing risks related to climate change.”
The ESG “green transition,” frequently popularized by powerful world governments and the Davos elite, has served as the main vehicle for this movement. Akin to the Chinese social credit score, which is used to coerce businesses, and, by extension, individuals, into specific actions, ESG rules force individuals and businesses in America to deploy capital through the gatekeepers of the system.
The Federal Reserve statement continues:
“By considering a range of possible future climate pathways and associated economic and financial developments, scenario analysis can assist firms and supervisors in understanding how climate-related financial risks may manifest and differ from historical experience.”
The banks involved in this pilot program are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo.
Of course, it’s just a scenario, until it’s not. The Fed pilot program is set to launch in early 2023.
MARK OF THE BEAST IS HERE.......................
“This will affect every facet of your life...............”
Most around me either cheer this, or simply don’t care.
Does it pass ESG guidelines to fly a private jet to a monkeypox orgy?
Just as some corporations were starting to back away from the ESG controls, the feds are stepping in full force.
Only if you fly while wearing an S&M leather outfit...
No
Publicly traded companies are already given ESG ratings.
When I research energy, I always look for the ones that have a “Laggard” ESG rating. They have a better chance of actually making profits than “Leader” rated companies which invest too much in solar, wind, etc.
“Everything that is allowed is compulsory.”..................
WTF is this BS?!
Destroy the federal reserve - NOW
It works both ways. A low ESG score is a good indicator; indicates they are doing what is good for the company and not playing silly politics.
Never imagined there could ever be this many ignorant mofos available. Lenny would be proud and is smiling up from hell. 😲😵😠
All those child slave laborers mining minerals in Africa will breathe a sigh of relief knowing they are helping corporate profits.
Does this mean the executives of these banks will not use private jets, or tolerate companies that do. Nooooo. They don’t care thaaaat much.
I know Schwab does the ESG thing. Everytime I log into my account I see those ESG tags. I’ve mostly ignored it thus far, but really shouldn’t. A lot of the mess we’re in is because conservatives ignored and laughed at what the left was doing.
It’s like golf, the lower the ESG score the better.
Not a dime in transactions with these "Banks" ever again!
That’s the million (or trillion) dollar question. Doesn’t corporate management have a fiduciary responsibility to the owners/stockholders?
If, for instance, a bank lends money not based on the ability of a borrowing company to make money but based on some arbitrary standard that could cause the loan to go bad, hasn’t the bank intentionally lost its shareholders’ money?
I’m pretty sure management cannot knowingly engage in business practices that will lose money.
So how does this ESG nonsense work unless the law is changed?
What goes into ESG ratings are also more-or-less random. It really is a “political correctness” score, that shifts with modern political winds.
Its state-directed and politically controlled “capitalism.” It really is no different than what China’s CCP does.
A Swamp Sharia system.
And which one do you supposed fedgov would choose? I'm thinking whatever gives them the most control.
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