BOE HEAD: PENSION FUNDS COULD BE HIT BY WORTHLESS FOSSIL FUELS!?!?
T.M. spotted this one and deserves a big "thank you" for passing it along, because the Bank of England's Mark Carney is at it again, pushing the "climate change op" as Catherine Austin Fitts called it during her annual quarterly wrap-up with me just a few days ago. (For those interested, her wrap-up is available to her subscribers on her website, www.solari.com, and also to our subscribers in the audio cast section of our members' area.) But as T.M. put it, what does the Bank of England know?
Bank of England head: Pension funds could be hit by 'worthless' fossil fuels
Now, beyond the climate change op, there's something in this article that caught T.M.'s eye, and caught mine as well:
Bank of England governor Mark Carney has warned pension funds they could be stung as fossil fuels investments become “worthless” over time.
Carney said in an interview on BBC Radio 4’s Today Programme on Monday that global targets to reduce emissions would render many fossil fuel companies and their assets worthless, as people ditch ‘dirty’ energy in favour of renewables.
“Up to 80% of coal assets will be stranded, up to half of developed oil reserves,” Carney said. “A question for every company, every financial institution, every asset manager, pension fund, or insurer: What’s your plan?”
Carney said pension funds “could make [the] argument” to clients that it is better to ditch fossil fuels now, even as returns remain attractive.
“They need to make the argument, to be clear about why is that going to be the case if a substantial proportion of those assets are going to be worthless,” the outgoing Bank of England governor said. (Emphasis added)
Now, beyond the shriek-o-meter references to the climate-apocalypse-op, there's something else going on here in my high octane speculative opinion. Filter out those references, and the real story is that the head of the Bank of England is really saying: drop your fossil fuels corporate stocks and bonds now, while you can, because eventually those assets will be worthless.
It's the "worthless" part that caught my eye, for one cannot render stocks and bonds "worthless" based on questionable, if not bad, science, mere propaganda, and a pouting, screaming, preachy and sadly weaponized Swedish adolescent girl. There has to be a reality driving any such assessment of price and value, and the key hint in the article is the reference to "renewable" energy sources, which might more accurately be termed "virtually inexhaustible" energy resources.
Thus far, these have focused on two: solar, and fusion, and neither have thus far delivered anywhere near the results needed to sustain the energy needs of the planet. Or so we're told. By the same token, as one contemplates the energy needs just to mine cryptocurrencies alone, we're fast approaching that Kardashev scale class I civilization needs where the mass-energy conversion of an entire planet is needed to sustain civilization. Fusion and solar might be able to do that, pending success of current fusion reactor plans, like Itar in France, or pending the success of plans to harvest solar energy in space and beam it to the Earth.
So we're left with two ways of interpreting Mr. Carney's remarks: (1) it is an op, and nothing more, one designed to stampede investors into massive sell-offs of fossil fuels securities, so that the banksters can snap up those assets on the cheap, or (2) "something" is coming by way of breakthroughs in exotic energy technologies, and the banksters know it, and are trying to head off potential financial disasters by giving a heads up ahead of time in order to make the financial transition away from fossil fuels smoother.
Given the announcements in the past few years - think only of Lockheed-Martian's... er, I mean, Lockheed-Martin's... announcement a few years ago of a fusion reactor that can fit on the back of a truck, a reactor which, incidentally looks suspiciously like Philo Farnsworth's plasmators and fusor patents of the 1960s - my money is on option number two...
See you on the flip side...
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“more accurately be termed “virtually inexhaustible” energy resources” – Bingo!!
I think they are clearly NOT talking about wind, solar, hydro, biomass etc. It has to be something cheap and plentiful. That could be LFTR or one of the fusion “pokers in the fire”.
Has anyone made a study of comparing the energy consumed to maintain the bitcoin market and the energy consumed to maintain the value of the US dollar? How many nuclear aircraft carriers would it take to power the bitcoin system?
But there always the question who is really in control of this world and who do our elites the real slaves kowtow to. As for the rest of us we are only chattel or livestock to the real masters of this world.
@ goshawks.
“reply” doesn’t work for me, so putting in as a comment.
900,000,000,000. = 1X10^11
bioaccuumulation from phyto to zoo plankton = 1
from plankton to little fish = 2
from little fish to big fish = 2
from big fish to tuna = 5
into humans over 20 years of eating big fish = 3
total = ^11
even if I exaggerate, fuku is not going to end, and could even get far worse if a quake,. tsunami hits that plant. and there are other little leakers all over the world. something must account for Kevin Blanch’s dead tide pools in California, etc.
poor little Greta Thumpburg is likely a product of Chernobyl radiation, surely dilution as solution to pollution counts in the air too.. ditto for the initial fuku fallout and alarms, now taken off grid, going off in the USA.
https://rense.com/general96/child-of-chernobyl-greta-thunberg-is-areva-sandviks-tool-of-fukushima-denial.php
still, we *ought* to be able to trust scientists, the media and government to save us from guessing . we know we cannot.
We *owe* to be able to trust…
taxes
Thank you, Goshawk!! The one piece of the picture that always seems to get left out!! We “normies” have no clue how many groups of “others” are involved in the Big Picture!! However, we CAN sense that things are changing!! Here’s one for you….. I was very struck recently when looking at a picture of our Beautiful First Lady…..get my drift???!!! 😉
ZDB…..after getting hacked because of Patreon donations, I also now require a P.O. Box for any donations!!! This Grandma isn’t very computer savvy so will stick to what I DO understand!! 😉
Loxie Lou Davie, your comment ‘clunked’ things into place for me. Thanks!
Something about Trump’s ‘trophy’ wife has always bothered me. She is way too classy and self-composed for him. But, there is “something else.” It bothers me each time that I see her. Alertness and patience; weariness and a sense of a wider worldview. Something that just would not filter-through to my intellect…
Your comment feeding-into my comment ‘popped-up’ that she was an alien (off-world) who was ‘assigned’ to be Trump’s bodyguard/watcher/handler/contact. I know, I know – strange. However, some part of me just started jumping up & down and saying, “Yes!” So, I pass this ‘intuition’ on, for what it is worth…
Glad you caught it too, goshawk!! It’s impossible to “read” what is really going on. Awhile ago I heard rumors that our Wrecking Ball has ties to a certain off-world group through his wife…….it wouldn’t surprise me!!! We are not alone in the Universe & never have been!!
Just wondering if you have ever heard of the World Governing Council of Wettin & Miss Somerset Belenoff, who took it over in 1979??? One never knows for sure about such things!!
I know Stewart Swerdlow wrote a book about the true Bluebloods. Apparently, because their blood was a copper base, not iron base like ours, that when oxygen hit it, the blood would really turn blue??!!!
https://www.youtube.com/results?search_query=melania+slaps+trumps+hand+away
didn’t the Japanese not have a word for green since forever? it was always a shade of blue?
LLD, I never heard about the WGC, etc. I am fairly sure that any ‘real’ ruling group would be deeply hidden. If you stumbled-across it, you would be disappeared or suicided.
On bluebloods: Several of the Hindu ‘gods’ have been portrayed as having a blue skin color. (Possibly some Egyptian ones, also.) Western types have trivialized this, giving it ‘symbolic’ meaning only. However, within the Anunnaki race (minor Anunnaki ‘god’ Inanna was given western India/Pakistan as a fiefdom), blue may have been far more than symbolic…
There are so many techs being held down for so long, we might want to try to understand new techs suppressed less and the methods of suppression and release a bit more. Tesla comes to mind. That conversion from gasoline to electric is being monetized and profitable for the established tech suppressors so much so that their profit margins and control will increase through the transition.
G and Basta might have said the same thing as the above, only a bit better.
george carlin, it’s a big club and you’re not in it… and they’re coming for your retirement funds….
https://www.youtube.com/watch?v=H-PSCqhkWhg
and the old fart taxes to come.
or at the relevant time
https://youtu.be/H-PSCqhkWhg?t=122
I’d be investing in the expansion of desalination plants to also crack water to make oxygen, given the death of the oceans following Fukushima (and others to come and others leaking lesswise all the time, too expensive to close down). :they want you to have just enough oxygen to operate the machines but not so much that you sit around tables figuring how you are being screwared(sic to get this commnet through the HolyBot)
like button please.
Pierre, all you have said is true. They are psychopaths and/or non-human. Hopefully, a ‘counter’ will be devised…
However, the effect of Fukushima on the Pacific Ocean is vastly overblown – probably for FUD and oil/gas profits. I did a long calculation which shows that the radioactive contamination is a round-off error. The Pacific Ocean’s volume is HUGE:
https://gizadeathstar.com/2016/07/whats-way-whats-going-way-russian-bio-hazard-team-sent-arctic/#comment-64086
It could also be related to the situation in Iran. Any retaliation will likely be in the form of manipulating oil prices to drive them up. On the other hand if there is this new tech coming out soon then oil is one serious bargaining chip out of the game for the Middle East, which may be why Trump took the unusual action he did in killing Iran’s second in command.
Bottoming out the price of oil seems like the sign of a real war against the power structure that’s been walking around in America’s corpse. Until that happens in a real way, this war business all just hype to me.
Wasn’t there a similar tech transition happening before WWI?
In Canada many small and medium players in the oil/gas game are bankrupt with their assets being snapped up for pennies on the dollar. One new field which started operations on the ground with a 5 billion dollar investment was recently acquired for 70 something million dollars. How’s them apples?
http://nationalpost.com/opinion/dont-shut-in-canadas-oil-yet-we-just-got-a-wake-up-call-on-how-important-our-oil-actually-is/wcm/ac2d931f-299a-4a41-b602-ed255461d1e2
The only things keeping the economy going are wealthy retired pensioners, Federal employees, Federal contractors, and corporate welfare to the big monopolies. The rest of us get our money by supplying services to these groups. We are all slaves to the feds and there is no real GDP anymore. Printing more fake money out of thin air each year and using the military to back its artificial value is the only game in town and has been for a lot of years. So why are they choosing to crash the pensioners now knowing it would collapse the huge segment of the service industry economy that relies upon them and their checks each month?
The value of our dollar is now backed by our military might and influence in the world, not precious metals, oil, or any other commodity or industry anymore.
And what industries’ profits are backing the military?
Quite sickening these obvious ops that are con jobs. First there’s the alchemy of money from nothing that’s been going on for thousands of years. To the a point in time today that the global reserve currency is simply backed by Pentagon force; and coincidently, the oil[another op]. The oil was challenged by Tesla’s zero point energy which JP Morgan Inc. deep sixed, in favor of a monopoly controlled energy based upon abiotic petroleum. Again, to a near point in future, where the CO2 op is being made the fall guy for the real weather maker: the Sun. All fraudulent ops that ironically are killing Earth’s biosphere; w/o which sentient beings are doomed. Now, for a supposedly intelligent being, mankind appears to have been engineered primarily as a tool for slavery; rather than one possessed of so-called intelligence. [back to point: “80%”]
The question of What’s your plan?” should obviously be put to the international banking cartel; specifically, “What your up-coming weasel plan for fraud, this time around the mulberry bush?”
“A reality behind” this madness? Could be a new monopolized Energy Fraud 2.0; a step-up from the energy based-upon-dinosaur/plant-waste fraud[aka., reality: abiotic]. This “new” monopolized energy? Fusion? Solar power[China}? Microwaved down to Earth?
Buzzword, no doubt test-marketed as most effective market killer ap/”Renewable”.
We’re left w/the tried & true: “Napoleon won!” op.
[sell off your fossil fuels/the bankster$ snap them up]
Or, the real Energy McCoy is coming; albeit, a monopolized-4-control version.
Umm? The 1960’s Farnsworth model has been fitted/placed/approved for distribution; on the authorized/certified – of, by, and 4 the Monopoly board.
Or the third option: BOTH.
What if the time has come to switch when ready and they’re only making a head fake. Which ever direction the masses choose to believe is the open lane for the profiteers to take. Contrarians always profit most where they are allowed to drive the sheep. It doesn’t matter which way the sheep are driven. It matters that the sheep are driven. Those in power always have the advantage of time. They can wait until the last moment to move in the open direction – and leave everyone else moving in the wrong direction.
Interesting, didn’t the Rockefellers also divest themselves of all of their oil investements?
Good point!
With Saudi’s doing the same thing? Otherwise why take Aramco public?
Then there’s this on strategic Middle East Oil:
https://michael-hudson/2020/01/persian-powerplay/
In an interview w/the Saker
Above didn’t take; just go to:
http://michael-hudson.com/
Interesting comments indeed. On a macro level, many economic/geopolitical commentators hammer in the point that endless QE/global stagnation and endless ME wars (cough, cough) are ultimately being driven by the declining return on investment from oil. The gloom-and-doom story goes that easy oil has all been pumped and the whole shale boom is mal-investment and is an economic sinkhole, and tptb know this so let’s wage imperialistic wars in the ME to secure those fields. Visions of famine and decline and impending TEOTWAWKI (the end of the world as we know it, so ingrained now it has its own acronym).
If you think that Tesla and Maxwell weren’t clods and that over-unity energy has been suppressed for over a century now, well then you might have another perspective on the current situation and perhaps think that what we are actually seeing is the squeezing of the last drops from the lemon before the roll-out of these suppressed technologies–and that they won’t get any traction until all Mister Global’s ducks are nicely lined up in a row. Problem is, everything takes longer than you think, so they’re cutting it pretty close here.
Basta, well said. Totally agree. I think that the Plan was to keep fossil fuels ‘dominant’ until all the physical assets in the world had been bought-up or controlled. Then, new energy sources would be brought-in at a slow rate, so as to not disturb the Power Structure. A Harkonnen homeworld was the ultimate goal…
If the PTB are ultimately in control, we are probably heading for that timeline. However, I am still buoyed-up by the terror 1940s/50s/60s ‘authorities’ had for the UFO phenomena. Suppression and ridicule everywhere. (Read-up on how physicist James Edward McDonald was suicided when he rocked the boat too much.) I do not believe humanity is alone in the Big Picture…
My favorite scenario (outside of a mass Consciousness Raising experience) is from the WWII ‘island hopping’ campaigns. I take interstellar warfare as a given. I think that the PTB have been ‘neutralized’ – no starships or heavy weapons surviving – and ‘left behind’ on Earth, while battles raged onto other more strategic parts of our galaxy. (Maneuver warfare, written large.) It was not worth ‘digging them out’ at the time, so they were just monitored.
Over the past decades, I note the frantic development of weapons technologies. Thousands of years of stasis, and now there is development of technology at all costs. It is almost like the PTB know that something ‘bigger’ has changed. Perhaps, it has become time to ‘root out’ the stragglers…
(This ties-in with the blog through the poo-poo-ing of fossil fuels ‘from above’ and the implied insertion of more-advanced technologies to take their place.)
Amongst the various Tesla devices now spreading at the grassroots level, the Cold Steam Turbine is now here.
https://www.gofundme.com/f/cold-steam-tesla-turbine
Yes Dana, and that’s probably one of the many grass roots project that are popping up all over the world. Pretty soon it can become a flood gate that can’t be stopped. May be that’s why they( TPTB) trying to roll out their incentives like cold fusion generators etc. I am with dr. Farrel on that. Fossil fuels are out new things are in. It’s enough to look at Putin recently, his walk, gloomy face at the Christmas service. Russia economy relies in 70% on oil and gas. Without it they are toasted and if the bear gets angry that’s not a fun picture to watch at or be near by.
I want a po box and or a bricks and mortar address to mail a paper check to.
Free energy means easy fortifications in the wilderness. Once a prepper, always a prepper.
Robin Hood, with free energy in Sherwood, means munition industry, with faster arrows and stronger bows.
Waiting for King Richard to return, is a waste of time. King John is a hanging fruit, ripe for picking.
Free gold in Nottingham!
when a central bank governor says “make [the] argument” to clients that it is better to ditch fossil fuels now, even as returns remain attractive.”
That’s like a papal bull. Not only should you do it but you should run to do it.