by: JD Heyes
(
Natural News)
Our governing systems continue their hard-left, anti-freedom, Marxist
shift, which is leading to the development of a parallel system that
conservatives are flocking to.
For decades, the federal government — at every level — has been
infiltrated by left-wing ideologues who are authoritarian by their very
nature, and now the Federal Reserve is joining the fray.
As reported by investigative journalist
Jordan Schachtel on his Substack,
the Fed “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.”
ESG — which stands for Environment, Social, and Governance in
investing — “refers to a set of standards for a company’s behavior used
by socially conscious investors to screen potential investments,” according to Investopedia.
What that means in practice, of course, is that regardless of the
potential for earning profits for shareholders, which banks and
corporations are beholden by law to always strive for, these
institutions instead only invest in “politically correct” industries and
sectors. No fossil fuels, for instance, as oil and gas are so early
2000s; no big tobacco; and nothing that has anything to do with Israel,
just to name a few (because the hard left is comprised of true bigots
and racists).
“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,” the Fed noted in a statement last week. “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 short, Schachtel said, the Federal Reserve “is working with the
big banks to monitor their ability to comply with the ruling class’s
preferred enviro statist technocratic tyranny.”
He goes on to say that the unaccountable, unelected bureaucrats at
the Fed who are responsible for this new exercise claim it is only
“exploratory in nature and does not have capital consequences.” The
statement from the nation’s money printer also said that the “scenario
analysis can assist firms and supervisors in understanding how
climate-related financial risks may manifest and differ from historical
experience.”
Then, why bother with this exercise at all? What’s the real purpose
behind it? As Schachtel explains, there is always a statist purpose
behind everything the American deep state does:
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.
Source: https://www.naturalnews.com/2022-10-03-federal-reserve-set-to-force-banks-adopt-social-score-system.html