The globalists are not even being clandestine over their outlandish spending sprees anymore. The elite and the plebs have come to a place of acceptance that this is the way things will forever be: trillions in spending, taxing, borrowing, and printing in the name of cushioning the blows from the COVID-19 pandemic, fighting climate change, and supporting The Great Reset. But while the U.S. regime has attempted to deceive the public by claiming the Build Back Better agenda will cost taxpayers nothing, the Treasury Secretary has placed an official price tag on the globalist pursuit to transform the international economy based on their vision. It may be wise to sit down for this one: $100 trillion to $150 trillion.
That Will Be $150 Trillion, Dearie
Speaking at the Finance Day Opening Event at the United Nations COP26 climate summit in Glasgow, Yellen got right down to business in her prepared remarks: The international community will need to spend as much as $150 trillion to address climate change. The former head of the Federal Reserve System told the audience:
“Glasgow and COP26 is a pivotal moment at the start of this decisive decade of climate action. The climate crisis is already here. This is not a challenge for future generations, but one we must confront today.
Rising to this challenge will require the wholesale transformation of our carbon-intensive economies. It’s a global transition for which we have an estimated price tag: some have put the global figure between $100 and $150 trillion over the next three decades. At the same time, addressing climate change is the greatest economic opportunity of our time.”
“These programs are exciting — but as big as the public sector effort is across all our countries, the $100 trillion plus price tag to address climate change globally is far bigger,” she added.
Yellen and her colleagues have proposed a series of measures to grapple with global warming; whether this will cost tens of trillions of dollars or not remains to be seen. According to the Treasury Secretary, governments should install a resilient financial industry that can withstand climate-related risks. She further listed establishing infrastructure projects, investing in companies and technologies that can achieve the decarbonization objective, and making public waters available for leasing to construct offshore wind-power generation by 2030 as chief priorities.
How Dare You
Teenage activist Greta Thunberg might have been right when she slammed COP26 as a “failure.” The discussion among policymaking grownups has metastasized into a tragic-comedy: tragic because $150 trillion is no small matter and comedy because politicians and bureaucrats think this is a minuscule sum of money that can be picked from the infinitely growing money tree. This is the attitude among elected and unelected officials who just completed the greatest fiscal and monetary experiment in human history by creating trillions of dollars out of thin air in a year’s span.
At this stage of the game, when so many of the world’s most advanced economies have fallen short of their targets and continue to postpone their net-zero carbon dreams to decades later, skeptics have earned the right to wonder if this is even about the green economy anymore. Five trillion dollars a year to prevent a climate disaster? The smartest men and women in the room might as well have demanded $20 trillion per annum. What would be the difference?
But enormous costs are the basis of the socialist approach to presenting a resolution to anything. In addition, the radical leftist endeavors consist of diminishing civil liberties, suspending property rights, and centralizing all decision-making. This, according to the globalists, is a far superior strategy to individualism, decentralization, and freedom – the antitheses to their neo-Marxist crusades.
Without doomsday language and prognostications, how could the population be scared into submission? “Fear is a great motivator, so the proponents of expanded government action have an incentive to represent the current situation as unprecedented and therefore as uniquely menacing unless the government intervenes forcefully to save the day,” wrote economist Robert Higgs in his phenomenal book Delusions of Power.
And, as CNN Technical Director Charlie Chester told an undercover Project Veritas journalist earlier this year: “Be prepared, it’s coming. Climate change is going to be the next COVID thing for CNN. We are going to hone in on it.”
Indeed, The Great Reset scheme is an immense umbrella with many different globalist goals placed underneath, acting as a shield from the rays of freedom and liberty. From installing central bank digital currencies (CBDCs) to igniting an inflationary tsunami, COP26 and similar events can function as cover for far more odious means than lowering the planet’s temperature and allowing world leaders to feast on opulence and excess in the name of saving Mother Nature.
The New Never-Ending War
The COVID-19 public health crisis served as the perfect excuse to push ahead with deficit-financed spending mechanisms. They never let a crisis go to waste – and they got away with it, too! This has emboldened the authoritarians, the Keynesians, and the cronyists, becoming representative of crisis opportunism, unleashed power grabs during crises that intensify over time and never subside after these incidents have dissipated. Like the War on Terror, this is a generational battle that will never be defeated – and that is the way the politicians like it. That is, until the next crisis that requires spending trillions of dollars more, forcing climate change to take a back seat.
~ Read more from Andrew Moran.