President Trump, for his part, came into that room and did what he always does, step on the metaphoric duck and draw the ire of the globalist glitterati.
But nothing Trump said landed with any weight because The Davos Crowd is in the process of getting rid of America’s Loki anyway.
The Green economy is being touted by everyone now. It was one thing when it began with Alexandria Ocasio-Cortez and her insipid Green New Deal. When it was just her and the Justice Democrats pushing this, it could be dismissed as a silly tactic to push the Democratic Party in the U.S. unacceptably left by a bunch of malcontent Bernie Bros.
But when it’s every major central banker in the world, including heads of major Federal Reserve Banks, it is quite another. When Greta Thunberg is speaking at both the United Nations and Davos, you know this is official policy.
Mike Shedlock picked up on this in a recent post going over all the major central bankers’ doom porn statements about climate change.
And, as good as Mike’s article is, it doesn’t get to the heart of the matter.
Because he doesn’t ask why? And, more importantly, why now?
Why is this now such a crisis that we have to alter the shape of the world economy to deal with the potential catastrophe of climate change?
Why won’t these tone deaf oligarchs finally come clean about the reality of the weather? The IPCC is adding the particle forcing data to their 2022 report which will fundamentally change their climate models to incorporate a small part of the real story of the sun’s effect on our weather.
And even that will force through a change in outlook that will make these decades of demonization of carbon dioxide look incredibly silly.
It can’t be because the weather has been so unbearably hot, because it hasn’t. Reality is a harsh mistress as there are record snowfalls all across the northern hemisphere. Bomb cyclones sweeping in to drop feet of snow across the northeastern U.S. that are literally unheard of.
It was a cold, wet spring which delayed plantings. It was an early winter which interrupted harvests. The more the data comes in, the more the USDA is altering past crop reports to make the damage not look so bad.
And the corn prices coming out of the U.S. are something you have to pay attention to.
By the way, it isn’t just the U.S. Russia put in a hard export limit on grains for the first half of this year. The last time they did this was because of an incredibly weak harvest.
The priority of the ministry is the food security of the country, so it sees as important that favorable external conditions do not lead to shortages of grain in the domestic market, the ministry said.
Russian grain exports are so far down 18% this season compared with a year ago, and export prices for Russian wheat are currently at this season’s high.
Corn Prices in Chicago are still dormant, well within in recent historical norms. But that is likely because the USDA is still counting on 1.3 billion bushels of corn being saleable that in reality isn’t. Keep an eye peeled there.
Ultimately, the market will suss this out, but the reality is that the Grand Solar Minimum is here, and it’s playing havoc with the weather in ways which are simply not reducible to ‘CO2 bad mkay!’
No matter what PTSD Greta and the Mighty Gore have to say about it.
So, again ask yourself the questions, “Why? And why now?”
It started with new ECB President Christine Lagarde, who made the first central bank pronouncement about the need for tackling climate change through Green initiatives fueling monetary policy.
This will require tens of trillions in new spending programs to implement the changes needed to combat this problem head on. After her, it was Mark Carney of the Bank of England last week.
Martin Armstrong, who has also been warning about the colder planet and the grand solar minimum, picked up on Carney’s statement. And he comes close to the truth as to why there is this push for climate hysterics from the central bankers and The Davos Crowd.
Any investment in “green” companies has resulted in major losses. So there is no logic to what Carney is saying unless it is a cover-up for the pension crisis that is unfolding. Governments have ordered pension funds to buy government debts and then they take interest rates down to negative. The governments, without climate change, are ensuring that pensions will be worthless. It seems that he is using climate change as the excuse for the pension system failure.
But, I think Martin misses the critical point of Carney’s statement. Carney, like Lagarde, the Fed and Kuroda at the Bank of Japan are all in agreement now.
And when central bankers start coordinating their communication worldwide, it is because they are getting ready to do something drastic. They know there’s something out there they can’t contend with.
Carney is helping to prep the ground for Lagarde to implement the green new deal as a Keynesian stimulus within the European Union. She will have to override Germany’s opposition to this while pushing for fiscal integration across the European Union.
But that won’t be hard: Germany’s economy is about to bring the house of Europe down.
She was put in charge of the ECB to enforce whatever plan they come up with to deal with tens of trillions in over-priced European sovereign debt that is beginning to rise in yield.
This is exactly as Yra Harris laid it out in my podcast with him in December.
But, I think this goes even further than that. The Green New Deal is also an excuse for how they’re going to sell us on the amount of money they will need to print to deal with the next financial crisis. Last time they could blame it all on the greed of Wall St.
This was then turned into Occupy Wall St. and has given rise to the well-intentioned progressive Left that is rightfully (and righteously) angry that Wall St. was bailed out at the expense of the lower and middle classes, just like Karl Marx described.
It’s all horseshit, but so what? What does the truth matter when there’s another generation to destroy when this thing blows up?
They can’t be the blame for it. These are humanity’s saviors after all.
They’ll blame Wall St. again this time and The Davos Crowd will try and use their cover as paragons of wokeness and serving the needs of the people to usher in the next attempt to protect themselves from the laws of economics.
The next crisis is one in sovereign debt. It will be bigger than the central banks.
They have been prepping the narrative for a couple of years now with MMT — Modern Monetary Theory — which is essentially print money until you drop. It comes in various disguises — Universal Basic Income, Earned Income Tax Credits and the Green New Deal.
But unlike the last crisis, the money won’t go to saving the banking system but to saving the broke governments. And you save governments by inflating away their previous liabilities, in this case the pensions and promises made during the last cycle.
Hence, the appeal to greenness and the spectre of the Climate Change Bogeyman. Honestly, it’s pathetic. But, unfortunately, it’s also working with a lot of people.
So, the answers to the questions I posed earlier are simple. Why now?
Because the crisis is already here and they have to have us prepared for it when it happens. That’s what the repo crisis is. That’s why the Fed is considering opening up their repo window to hedge funds.
It’s why the Trump administration is still complaining about a rising dollar while running a $1.3 trillion deficit and monetizing it through short-term treasury auctions.
It’s why there are more hundreds in circulation than singles. And it’s why we haven’t even gotten started yet.
Moreover, the response to the crisis has to happen before people really begin to question the whole nonsensical runaway greenhouse gas nonsense as they dig themselves out of snowfalls not seen in a hundred years.
When Mark Carney, a central banker, is showing us maps of Florida before and after a 9 foot rise in global sea levels, the whole climate change narrative hasn’t just jumped the shark, it’s carved it up and served it for dinner.
And since they’ve already destroyed one generation of savers, they have convinced the next one that it is good and virtuous to have less, to have lowered expectations, to eat bugs and fake meat and all the rest of it.
Because that is the reality of what’s coming. A colder planet, higher food prices as a percentage of a debased income, and total surveillance over your entire life to ensure 100% tax compliance.
The truth is, we went broke a helluva lot earlier than when we got woke.
Now the only question is, will you buy what they’re selling or protect yourself?
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