Jun 112021
 June 11, 2021  Posted by at 8:47 am Finance Tagged with: , , , , , , , , , ,  60 Responses »

Wassily Kandinsky Free Curve to the Point – Accompanying Sound of Geometric Curves 1925


Stalin’s Covid Mismanagement Gets International Attention (CM)
100s Suffer Heart Inflammation Following COVID Vaccines (ZH)
Highly Contagious Delta Variant Now Makes Up 91% Of UK’s New Covid Cases (F.)
As Trump Banned China Travel, Fauci Funded Wuhan Lab Studies (NP)
There Are No Solutions -Part Two (Jim Quinn)
Goldman Requires Workers To Report If They Are Vaccinated (ZH)
Celebrity Cruises Has A Workaround For DeSantis’ Vaccine Passport Ban (F.)
The Global Pandemic Requires A Global Vaccination Plan (F.)
China Passes Anti-Foreign Sanctions Law (Y!)
Cash Gone Nuts: Treasury General Account Drops to $674 Billion (WS)
Trump Tells Biden To Give Putin His ‘Warmest Regards’ (F.)
Convert New York’s Entire Grid to Renewables With This One Trick (Vice)





Bhakdi: the authorities who Ok’d this; the EU; all the governments who approved these vaccines.. I think they should all be taken to court.”



Come for the headline, stay for the ivermectin.

Stalin’s Covid Mismanagement Gets International Attention (CM)

In a special live broadcast on June 1 of the DarkHorse podcast, Dr. Bret Weinstein (Ph.D.) and Dr. Pierre Kory (M.D.) discussed the incredible story of the Ivermectin drug in controlling COVID, in which they criticized Tamil Nadu Chief Minister MK Stalin for his irresponsible behavior during the pandemic. In the recent broadcast, Dr.Pierre Kory praised the Indian Council of Medical Research (ICMR) and the All India Institute of Medical Sciences (AIIMS) for including Ivermectin in their treatment guidelines. He added,” Some of the states in India went even further and they went much more aggressive. One of the boldest and uplifting moves was that of the Chief Minister of Goa, who recommended the use of Ivermectin for every adult over the age of 18 who was infected with corona. This is what I would have done if I were the Chief Minister of state.”

He went on to say that states like Goa and Uttar Pradesh took bold steps to help India reduce the number of COVID cases in the country. Later, he slammed Tamil Nadu Chief Minister MK Stalin for effectively outlawing Ivermectin and going all-in on Remdesivir, which he claims is the cause of the state’s increasing cases. He also took a dig at MK Stalin’s name recalling the Russian Communist dictator Joseph Stalin who killed thousands of people. “I don’t know why but his name is MK Stalin. I just have to mention that. So, Stalin in India outlawed Ivermectin and it is not going well for the citizens”, he said. In another interview with Sky News Australia, Craig Kelly, Independent Federal Member for Hughes, Australia, also criticized MK Stalin for blocking Ivermectin drug in the state, claiming that it resulted in a rise in mortality and infection rates while every other state that used it experienced a decrease in COVID cases.

“There is one exception in India. It is the state of Tamil Nadu down the south where they have elected a new leader who goes by the name Stalin. People actually went to the ballot boxes and voted for a bloke called Stalin. He decided that Ivermectin wasn’t effective and basically blocked from the state. The death rate and infection rate have gone through the roof while every other state that is using it is seeing massive declines.” he said.

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Perfectly safe.

100s Suffer Heart Inflammation Following COVID Vaccines (ZH)

Federal authorities have received over 800 reports of heart inflammation in people who received a COVID-19 vaccine, a health official said Thursday. The reports of myocarditis or pericarditis were submitted to the Vaccine Adverse Event Reporting System, a passive reporting system run jointly by the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration, through May 31. The bulk of the reports described heart inflammation appearing after the second of two doses of either the Pfizer of Moderna vaccines, both of which utilize messenger RNA technology.

Authorities stress that anybody can submit reports through the reporting system but authorities have already verified that 226 of the reports meet the CDC’s working case definition, Dr. Tom Shimabukuro, a deputy director at the agency, said during a presentation of the data. Followup and review are in progress for the rest. Of the 285 case reports for which the disposition was known at the time of the review, 270 patients had been discharged and 15 were still hospitalized, officials said. Myocarditis typically requires hospital care. No deaths were reported.

Update (2000ET): The Centers for Disease Control and Prevention announced Thursday that it will convene an “emergency meeting” of its advisers on June 18th to discuss rare but higher-than-expected reports of heart inflammation following doses of the mRNA-based Pfizer and Moderna COVID-19 vaccines. The new details about myocarditis and pericarditis emerged first in presentations to a panel of independent advisers for the Food and Drug Administration, who are meeting Thursday to discuss how the regulator should approach emergency use authorization for using COVID-19 vaccines in younger children.

As CBS reports, the CDC previously disclosed that reports of heart inflammation were detected mostly in younger men and teenage boys following their second dose, and that there was a “higher number of observed than expected” cases in 16- to 24-year-olds. Last month, the CDC urged providers to “ask about prior COVID-19 vaccination” in patients with symptoms of heart inflammation.

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If they don’t open on June 21, watch the spectacle.

Highly Contagious Delta Variant Now Makes Up 91% Of UK’s New Covid Cases (F.)

The highly contagious “delta” variant of the coronavirus originating from India now makes up nearly all of the U.K.’s new coronavirus cases, Health Minister Matt Hancock revealed Thursday, as the rapid spread of the mutant strain adds a new threat to Europe’s reopening. Hancock told lawmakers while under questioning about the government’s handling of the pandemic that intelligence he saw Wednesday night showed 91% of the U.K.’s new cases are made up by the delta variant. While research is still ongoing about its transmission rate, Hancock told Parliament earlier this week that the British government believes the delta variant is 40% more transmissible than the alpha variant (B.1.1.7) first detected in Britain.

Notably, as of Thursday, just three fully vaccinated people in the U.K. infected with the new variant have been hospitalized, according to data cited by Hancock, who emphasized “the jabs are working.” However, government data shows cases have been sharply rising in the U.K.: more than 41,000 new infections were reported in England in the week through June 9, a two-thirds increase from the previous seven-day period. The revelation about the virus’s prevalence in the U.K. came as the World Health Organization on Thursday morning warned the delta variant is “poised to take hold” across Europe. Hans Kluge, WHO’s regional director for Europe, encouraged countries to “act fast on signals of increasing cases” and urged caution as some move to reopen.

Hancock stressed that vaccines appear to be effective against this version of the virus. So far, the U.K. has partially vaccinated over 60% of its population and fully vaccinated nearly 43%, boasting one of the most successful vaccine rollouts in the world. The broader European Union has moved more slowly, with just 42% partially vaccinated and 22% fully vaccinated against the virus. Nonetheless, the spread of the variant is threatening to prolong lockdowns in the U.K. as the government is currently weighing whether it should delay the lifting of restrictions in England scheduled for June 21.

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Fauci and Daszak above the law.

As Trump Banned China Travel, Fauci Funded Wuhan Lab Studies (NP)

Published on February 3rd 2020, the paper entitled Synergistic China–US Ecological Research is Essential for Global Emerging Infectious Disease Preparedness was authored by researchers from the notorious EcoHealth Alliance and several Chinese Communist Party-run scientific institutions, including the Wuhan lab. EcoHealth Alliance – run by self-declared “killer” virus creator Peter Daszak – and the Wuhan lab have both come under increased scrutiny for their potential role in the creation of COVID-19 as well as the cover-up of its true origins. The 14-page paper was the culmination of two-year collaborative project between Chinese and U.S. researchers involving two workshops on “Frontiers in Ecology and Evolution of Infectious Diseases” in Shenzhen, China and the University of California Berkeley in 2018.

“The workshop has two objectives,” a summary notes before explaining: The first objective is to review recent progress in ecology and infectious disease research and identify key gaps in data, information, and knowledge. The second objective is to identify research priority areas and discuss possible mechanisms for joint, international cooperation on research and education activities in ecology and infectious disease research. The paper – which was published in EcoHealth Alliance’s official journal “EcoHealth” – asserts that collaboration between the U.S. and China is key to stopping future pandemics. “International cooperation, particularly between China and the USA, is essential to fully engage the resources and scientific strengths necessary to add this ecological emphasis to the pandemic preparedness strategy,” it posits.

“The global nature of emerging and re-emerging infectious disease threats indicates the critical role of international cooperation, particularly spearheaded by China and the USA, in emerging infectious disease (EID) preparedness,” the paper adds before calling for the two countries to form a “united front for research”: “The world would be much better equipped for curbing the next pandemic, if China and the USA provided a united front for research and progress toward EID preparedness.”

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“No scientist ever believes that he has the final answer or the ultimate truth on anything.”
– Carroll Quigley

There Are No Solutions -Part Two (Jim Quinn)

The boldness and extremeness of their actions since the Fall of 2019 seem out of character with their usual shrouded machinations behind the scenes, where the public is ignorant of their actions. Something broke within the debt saturated financial system and Powell was ordered to restart QE and start reducing interest rates to fend off disaster. In a fascinating coincidence, Event 201, a pandemic simulation, was conducted on October 18 in New York City, jointly run by The Johns Hopkins Center for Health Security, World Economic Forum, and Bill & Melinda Gates Foundation. The four-year coup attempt by the Deep State against Trump was floundering, with their pathetic last gasp impeachment farce in January 2020.

The weaponization of the Chinese bio-weapon lab virus into a global pandemic narrative accomplished numerous objectives for the Deep State. It provided cover for the Federal Reserve to funnel trillions into the pockets of the criminal Wall Street cabal and their billionaire clientele. It provided the means for Democrat governors and mayors to use it as an excuse to allow mass mail-in voting in order to fraudulently steal the election. Destroying the economy through unnecessary worthless lockdowns and blaming it on Trump gave the Democrats a further impetus to steal the election. Convincing the entire nation masking and lockdowns stopped the spread (they did not) allowed the ruling class to exercise tyrannical authoritarian un-Constitutional mandates with little to no push back from the masses – giving them the confidence to push further.

Cases and deaths were plummeting before vaccines were rolled out in any quantity, but the media mouthpieces and lying politicians will credit the jab for decline. Using propaganda fear, convincing the masses cowering in your basement was brave, using their captured media to lie about “being in this together” as our rulers flaunted their own lockdown dictates, creating social unrest based on the false narrative of systematic racism, forcing people to be scared and suspicious of each other, and pitting families and friends against each other based on falsehoods, has accomplished the mission of tearing the fabric of our society. And now for the coup de grace – forced vaccinations with an experimental untested DNA altering concoction for a virus with a 99.8% survival rate.

The immune systems of all but the sickliest are sufficient to fight off this virus and cheap, effective, and safe treatments like ivermectin and hydroxychloroquine have been scientifically proven to successfully defeat this virus. Watching scientists and doctors declare these treatments dangerous and ineffective, with Big Tech censoring anyone dissenting from this narrative, tells you how corrupted the medical and media industries have become. Science is never settled. “No scientist ever believes that he has the final answer or the ultimate truth on anything.” – Carroll Quigley

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“..the bank had sent a memo this week informing employees in the US that they had until noon on Thursday to report their vaccination status.”

Goldman Requires Workers To Report If They Are Vaccinated (ZH)

Goldman Sachs’ bankers dragged themselves back to the office last month, shortly before American workplace safety regulators weighed in on what employers are legally allowed to ask (and not ask) about their vaccination status. As it turns out, vague federal standards will allow Goldman to allow workers to go bare-faced in the office so long as they provided their managers with information confirming they had been vaccinated. Previously, disclosing vaccination status had been “optional” for employees. That has apparently changed, as Andrew Ross Sorkin’s “DealBook” reported Thursday that the bank had sent a memo this week informing employees in the US that they had until noon on Thursday to report their vaccination status.

Bankers can log their vaccination status with the bank’s internal app for employees. Since employers can’t directly ask for this information, the bank will instead ask workers to fill in the date where they received their shots, along with the maker of their vaccine. Goldman has also informed employees through the app that their vaccination status may be shared with managers and used for planning purposes. “Registering your vaccination status allows us to plan for a safer return to the office for all of our people as we continue to abide by local public health measures,” said a section of the memo, which was sent to employees who hadn’t already reported their vaccination status. A copy of the letter was obtained by the NYT.

One of the NYT’s “expert” sources explained that Goldman can share vaccination status “with certain individuals if it’s relevant to the individual’s responsibilities, but they can’t share for no reason,,” according to Jessica Kuester, who specializes in benefits at the law firm Ogletree Deakins. [..] Companies across the US are trying to find out how many workers are vaccinated ahead of full office reopenings. They have conducted surveys and given out cash rewards, mimicking strategies embraced by state governments, as the Biden Administration scrambles to meet its goal of having 70% of American adults at least partially vaccinated by July 4. Though as things stand, it looks like the US is going to miss that target.

No word yet on whether Goldman workers will receive any kind of compensation for getting vaccinated. But seeing as the bank largely skipped bonus compensation offered to junior employees by other banks, we suspect junior bankers who comply will be doing so mostly out of the goodness of their hearts – and their unwillingness to lose their jobs.

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“We’re going to manage that. We’ve got codes, we’ve got, you know, if we have to shut down cabin categories or open cabin categories, we are going to make sure that’s on us, not you.”

Celebrity Cruises Has A Workaround For DeSantis’ Vaccine Passport Ban (F.)

For cruise operators, their mission impossible is to figure out how to follow both the guidance from the Centers for Disease Control and Protection (CDC) — which recommends that 98% of crew and 95% of passengers on a ship be vaccinated before setting sail — and avoid violating a much-hyped law from Florida Governor Ron DeSantis that prohibits businesses in his state from verifying the vaccination status of individuals. The first ship slated to sail out of Florida in 15 months is Celebrity Edge, which will depart Fort Lauderdale on June 26 on a seven-night cruise to the Western Caribbean. That’s just the beginning. By mid-summer, nine of the cruise line’s 15 ships will be operating out of Florida and other ports.

On a call with travel agents on Tuesday, Dondra Ritzenthaler, senior VP of sales, trade support and service at Celebrity Cruises, outlined how Celebrity plans to thread the needle to stay on the right side of both the CDC guidance and the Florida law, according a scoop in the unofficial Royal Caribbean Blog, which is not affiliated with the cruise line. Forbes has also obtained a recording of the June 8 call. For context, this is the second such call within two weeks where Ritzenthaler has outlined a possible workaround to travel advisors. Forbes previously obtained a recording of a May 27 call where Ritzenthaler told agents that the DeSantis administration and major cruise lines had discussed a possible exemption to the Florida law for cruise lines. A DeSantis spokesperson denied that the governor had ever considered such an exemption and told reporters that Forbes had “misinterpreted” Ritzenthaler’s comments from that call.

Throughout Tuesday’s 46-minute call, Ritzenthaler outlined the CDC guidance and reiterated multiple times that 95% of passengers on all Celebrity ships would be fully vaccinated. “We will require documentation of full vaccination from all guests who are eligible,” she said. “This is for everybody, but Florida is a little bit different, okay?” “Florida — because we honor the government, we honor DeSantis — we will still go out with 100% of our crew and 95% of our guests vaccinated. But in Florida, we will not require you to have to show proof of vaccination, because we are doing this exactly the right way,” said Ritzenthaler.

“Our President and CEO, Lisa Lutoff-Perlo, right before this call, said, ‘Dondra, you reassure every travel adviser on this call that we will sail with 95% of our guests vaccinated,’” said Ritzenthaler, who did not explain in detail how Celebrity would accomplish this feat except to suggest that, instead of verifying passengers’ vaccination records at the port on embarkation day, Celebrity would manage the ratio of vaccinated-to-unvaccinated guests during the booking process. “Guys, the way we’re going to do that is we’re going to manage the sailing, right?” she told the hundreds of agents on the call. “We’re going to make sure that we open some cabin categories. We close some cabin categories. We are going to make sure that 95% of our guests are vaccinated.”

That would mean that only five percent of any ship’s inventory for any sailing would be made available to unvaccinated passengers. At the end of the call, Ritzenthaler fielded a question from a travel advisor asking for additional clarity on how the cruise line would achieve the 95% vaccination threshold. “That’s not anything you have to worry about,” Ritzenthaler reiterated. “We’re going to manage that. We’ve got codes, we’ve got, you know, if we have to shut down cabin categories or open cabin categories, we are going to make sure that’s on us, not you.”

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Don’t laugh, they’re serious.

The Global Pandemic Requires A Global Vaccination Plan (F.)

As world leaders gather for the annual G7 Leadership Summit, they have one job: end the pandemic by delivering a global roadmap to vaccinate the world. This must be a comprehensive, coordinated strategy that accelerates global Covid-19 vaccine access and delivery in order to achieve at least 70% coverage in all countries. Eighteen months into the Covid-19 pandemic, we find ourselves navigating a schism between the haves and the have-nots where those in high-income countries can see a light at the end of the pandemic tunnel while many in poorer countries are experiencing the persistence of this devastating crisis. More than 85% of vaccine doses administered to date have gone to people in high- and upper-middle-income countries. And low-income countries? Just 0.3%.

What was once the bright spot in the pandemic — the rapid development and manufacture of life-saving vaccines — now points to a vast moral failing. There are many reasons that this has happened, but it boils down to a difficult truth: there is still no end-to-end plan to vaccinate the world to at least 70% coverage and provide the support needed for every country to get vaccines delivered and administered safely. The system that allowed just a few countries to buy nearly all the world’s vaccine supply needs root and branch reform. But right now, we must collectively do more. We are calling for an end-to-end plan that addresses urgent gaps in vaccine supply and delivery. After all, vaccines alone don’t save lives — vaccinations do.

Though the commitment of COVAX — the mechanism to accelerate the development and manufacture of Covid-19 vaccines and guarantee fair and equitable vaccine access — is laudable, to date it is not enough. As WHO Director-General Dr. Tedros Adhanom Ghebreyesus said to the World Health Assembly, while COVAX has delivered 72 million doses to 125 countries, “those doses are sufficient for barely 1 percent of the combined population of those countries.” President Joe Biden’s announcement last week that shipments of surplus doses have begun is also promising, but global leaders must do more. According to the Launch & Scale Speedometer, the G7 countries (including the whole of the EU) have an excess of 3 billion doses, even after vaccinating their entire population. G7 countries have the opportunity to do the right thing. We urge leadership to share one billion doses by the end of August, and another billion by the end of the year to support the global vaccination effort.

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“The law aims to firmly safeguard the sovereign dignity and core interests of the country and oppose Western hegemony and power politics..”

China Passes Anti-Foreign Sanctions Law (Y!)

China on Thursday passed a new law to counter foreign sanctions, as it looks to build its defences against rising US and EU pressure over trade and human rights. Beijing has accused the United States of “suppressing” Chinese firms and issued veiled threats of retaliation after President Joe Biden last week expanded a blacklist of companies in which Americans are not allowed to invest. Countermeasures in the Chinese law include “refusal to issue visas, denial of entry, deportation… and sealing, seizing, and freezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials,” according to the text published by the standing committee of the National People’s Congress, China’s top legislature. The restrictions can apply to family members of individuals who fall foul of Beijing.

The law also allows the country’s courts to punish companies that comply with foreign laws, and says that businesses or people in China do not need to comply with foreign restrictions. “The law aims to firmly safeguard the sovereign dignity and core interests of the country and oppose Western hegemony and power politics,” foreign ministry spokesman Wang Wenbing told a briefing. China has long complained about US sanctions and trade restrictions affecting Chinese companies, calling it an extraterritorial application of US law. Biden has stepped up US criticism of Beijing in recent months over the theft of intellectual property, and alleged human rights abuses in Hong Kong and the restive Xinjiang region. Last week, the White House expanded the blacklist of companies Americans are barred from investing in due to the firms’ links to Beijing’s military.

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“..in part responsible for the flood of cash that suddenly started to show up in the banking system that was already up to the gills in cash, and poured out from there.”

Cash Gone Nuts: Treasury General Account Drops to $674 Billion (WS)

The excess balances in the federal government’s checking account – the “Treasury General Account” (TGA) at the Federal Reserve Bank of New York – that had ballooned to $1.8 trillion by July 2020 plunged to $674 billion as of Wednesday, according to the Fed’s balance sheet, released today, the lowest since April 2, 2020, having now unwound most of the monetized-but-unspent debt-binge spike from spring last year. The Mnuchin Treasury started reducing the balance in the TGA in baby steps by borrowing less than they were spending. The Yellen Treasury announced in February that it would draw down the account to $500 billion by the end of June. $174 billion more to go:

Last spring, the government sold a gigantic amount of debt, piling an additional $3 trillion on top of its mountain of debt in just a few months. At the same time, the Fed bought $3 trillion in securities as part of its QE and wealth effect program, thereby monetizing nearly all of the $3 trillion in new debt that the government issued during that time. But the government didn’t spend all of the $3 trillion in proceeds from the new debt, and the TGA – a liability on the Fed’s balance sheet – soared from around $400 billion in February 2020 to $1.8 trillion in July. This $1.4 trillion addition that the government had borrowed and that the Fed had then monetized didn’t go into the economy and the markets but sat in the government’s checking account.

But now, during the drawdown of the TGA, that money has been going into the economy and the markets. The drawdown so far is money that the government has spent since February but didn’t have to collect in taxes or borrow from investors since it already borrowed it over a year ago, with the Fed having monetized the new debt. Since February, this money has started circulating in the economy, markets, and banking system, as the government spent it, and is in part responsible for the flood of cash that suddenly started to show up in the banking system that was already up to the gills in cash, and poured out from there.

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“..don’t fall asleep during the meeting.”

Trump Tells Biden To Give Putin His ‘Warmest Regards’ (F.)

Less than a week before President Joe Biden’s summit with Russian President Vladimir Putin in Geneva, Switzerland, former President Donald Trump put out a statement insisting his widely criticized 2018 Helsinki summit with Putin went “great” and telling Biden not to “fall asleep” when meeting with the strongman. Trump said in a statement he had a “great and productive” summit with Putin, at which he contradicted U.S. intelligence on alleged Russian collusion in the 2016 election, stating, “Putin says it’s not Russia. I don’t see any reason why it would be.” Trump said the negative image of that meeting is the result of a “belated Fake News portrayal,” claiming he “won much” from it, including the “respect of President Putin and Russia,” though what they actually discussed in their closed-door meeting remains a mystery.

Trump said it was the “obvious” choice for him to believe Russia over former U.S. intelligence officials with whom he has feuded, including former FBI directors James Comey and Andy McCabe. Trump wished Biden “good luck” in “dealing with President Putin,” and, in a continuation of attacks he made on Biden’s physical and mental capacity during the election, added “don’t fall asleep during the meeting.” “Because of the phony Russia, Russia, Russia Hoax, made-up and paid for by the Democrats and Crooked Hillary Clinton, the United States was put at a disadvantage—a disadvantage that was nevertheless overcome by me,” Trump said, reflecting how he feels his presidency was kneecapped by the Russia probe.

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The “trick” is more legislation?!

Convert New York’s Entire Grid to Renewables With This One Trick (Vice)

New York lawmakers are considering legislation that would drastically build out the state’s renewable energy offerings, a step toward a future in which some activists believe energy utilities could be fully renewable and municipally owned. The New York Build Public Renewables Act (Assembly Bill A1466A) would enable the New York Power Authority (NYPA)—the largest state public utility in the country—to develop and operate utility-scale renewable energy projects while requiring it to phase out fossil fuel infrastructure by 2025. The bill was introduced in January by State Senator Kevin Parker and Assemblymember Robert Carroll, and is championed by the Public Power NY Coalition—a statewide collective of environmental justice organizations that includes several Democratic Socialists of America (DSA) chapters and the NY Energy Democracy Alliance.

It is less radical than a previously considered piece of legislation that would have transitioned control over utilities to the state while banning for-profit energy service companies like National Grid and Con Edison. Advocates believe the passage of the Build Public Renewables Act would represent a first meaningful step toward climate action more than two years after the passage of New York’s landmark Climate Leadership and Community Protection Act (CLCPA). Passed in 2019, the CLCPA established a set of legally-binding environmental targets requiring 70 percent of New York’s energy to come from renewable sources by 2030 in order to reduce statewide greenhouse gas emissions by 85 percent by 2050.

The CLCPA was once lauded as the the most ambitious piece of state climate legislation in the country, but activists like Charlie Heller, organizer with the Public Power Coalition, say the state hasn’t upheld its promises. (Just five percent of New York’s energy production is currently generated by wind and solar power, for example.) “If you really think it’s a climate emergency, you wouldn’t just sit there and not pass any major climate bills,” Heller said.

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Feb 152021
 February 15, 2021  Posted by at 3:05 pm Finance Tagged with: , , , , , , , , , , , , ,  25 Responses »

Giorgione The Tempest 1508



“Mankind’s only chance to not destroy its planet lies in diverging from all other species in that not all energy available to it, is used up as fast as possible. But that’s a big challenge. It would, speaking from a purely philosophical angle, truly separate us from nature for the first time ever, and we must wonder if that’s desirable.”


I wrote that 4 years and 2 months ago today, and I’m still thinking about it. It came to mind again, along with the article it comes from, see below, when I saw a few recent references to climate change, and to how any policy to halt it should be financed. It’s all painfully obvious.

Bill Gates, while on a virtual book tour, says governments should pay. In particular for the innovation needed. We’re going to solve it all with things we haven’t invented yet. That kind of thinking never fails to greatly boost my confidence in people and their ideas.

Overall, Gates’ words feel like a stale same old same old been there done that tone. But one thing is changing. Since Joe Biden became the most popular US president ever, according to his vote count, there is now a climate czar at the US Treasury, and a climate change team at the US Fed. Progress! At least for those seeking to use your money to solve their problems.


Bill Gates: Solving Covid Easy Compared With Climate

Mr Gates’s new book, How to Avoid a Climate Disaster, is a guide to tackling global warming. [..] Net zero is where we need to get to. This means cutting emissions to a level where any remaining greenhouse gas releases are balanced out by absorbing an equivalent amount from the atmosphere. One way to do this is by planting trees, which soak up CO2 through their leaves. Mr Gates’ focus is on how technology can help us make that journey. Renewable sources like wind and solar can help us decarbonise electricity but, as Mr Gates points out, that’s less than 30% of total emissions.

We are also going to have to decarbonise the other 70% of the world economy – steel, cement, transport systems, fertiliser production and much, much more. We simply don’t have ways of doing that at the moment for many of these sectors. The answer, says Mr Gates, will be an innovation effort on a scale the world has never seen before. This has to start with governments, he argues. At the moment, the economic system doesn’t price in the real cost of using fossil fuels. Most users don’t pay anything for the damage to the environment done by pollution from the petrol in their car or the coal or gas that created the electricity in their home.

“Right now, you don’t see the pain you’re causing as you emit carbon dioxide,” is how Mr Gates puts it. That’s why he says governments have to intervene. “We need to have price signals to tell the private sector that we want green products,” he says. That is going to require a huge investment by governments in research and development, Mr Gates argues, as well as support to allow the market for new products and technologies to grow, thereby helping drive down prices.


Yes, a climate change team at the US Fed. Which has been handed yet another mandate. Because the Treasury can only do so much, after all. What you want and need is something unlimited to pay for all those yet-to-be-invented tools that Bill Gates and his ilk will be happy to research with your money. Jim Rickards has this:


Green New Deal Is Underway

The overall Green New Deal calls for ending the use of oil and natural gas, moving to electric vehicles, solar, wind and geothermal power, imposing carbon taxes to reduce C02 emissions and providing government subsidies to non-carbon-based energy technologies. The U.S. would also seek to embed these policies and priorities in new trade treaties and multilateral agreements. President Biden has already begun this process by rejoining the Paris Climate Accord, which actually doesn’t mean much; it’s mostly for show. The Paris Accord is also a platform for pursuing the Green New Deal.

[..] With the job creation mandate in its portfolio, the Fed was empowered to interfere with almost every aspect of the real economy, including jobs, inflation, interest rates, liquidity and financial regulation. As if that weren’t enough, economist Barry Eichengreen now calls on central banks, especially the Fed, to use their regulatory powers to control climate change! Part of the agenda would address racial inequality, income inequality and credit access for underprivileged groups. These may be laudable goals, but it’s a long way from the Fed’s role as lender of last resort.

What’s frightening about this push to expand the Fed’s mandate is not that it can’t work, but that it could. A central bank could require commercial banks to lend money to solar and wind generating companies and deny credit to oil companies. A central bank could require more loans to disadvantaged neighborhoods and require that no credit be made available to gun manufacturers or gun dealers. There is no aspect of the economy and business activity that could not be affected positively by mandatory credit or destroyed by the lack of credit and access to the payments system.

This is already being done to some extent by cabals of commercial banks. It would be even more powerful if required by central banks. This is exactly the outcome that has been warned about for centuries by philosophers and political scientists. It is exactly the reason Americans abolished two U.S. central banks in the 19th century.


This is precisely what I was warning about in December 2016, when the protagonists were Mark Carney and Michael Bloomberg, who wrote “How To Make A Profit From Defeating Climate Change”. If you are serious about saving your planet, you’re not going to listen to the ideas of billionaires and central bankers. Because they are the people behind the original problem, and the only tools they know of are the ones who created that problem.

You can’t solve a problem with the same tools that created it. And you’re not going to solve the climate problem by seeking to make a profit from it. Here’s from 2016. Oh wait, do remember that our societies and economies don’t run on using energy, but on wasting it. If you haven’t internalized that one, take a few steps back and try again.



Heal the Planet for Profit (December 16, 2016)


Parisians duck down to evade German sniper fire following Nazi surrender of Paris, 1945



If you ever wondered what the odds are of mankind surviving, let alone ‘defeating’, climate change, look no further than the essay the Guardian published this week, written by Michael Bloomberg and Mark Carney. It proves beyond a moonlight shadow of a doubt that the odds are infinitesimally close to absolute zero (Kelvin, no Hobbes).

Yes, Bloomberg is the media tycoon and former mayor of New York (which he famously turned into a 100% clean and recyclable city). And since central bankers are as we all know without exception experts on climate change, as much as they are on full-contact crochet, it makes perfect sense that Bank of England governor Carney adds his two -trillion- cents.

Conveniently, you don’t even have to read the piece, the headline tells you all you need and then some: “How To Make A Profit From Defeating Climate Change” really nails it. The entire mindset on display in just a few words. If that’s what they went for, kudo’s are due.

These fine gents probably actually believe that this is perfectly in line with our knowledge of, say, human history, of evolution, of the laws of physics, and of -mass- psychology. All of which undoubtedly indicate to them that we can and will defeat the problems we have created -and still are-, literally with the same tools and ideas -money and profit- that we use to create them with. Nothing ever made more sense.

That these problems originated in the same relentless quest for profit that they now claim will help us get rid of them, is likely a step too far for them; must have been a class they missed. “We destroyed it for profit” apparently does not in their eyes contradict “we’ll fix it for profit too”. Not one bit. It does, though. It’s indeed the very core of what is going wrong.

Profit, or money in general, is all these people live for, it’s their altar. That’s why they are successful in this world. It’s also why the world is doomed. Is there any chance I could persuade you to dwell on that for a few seconds? That, say, Bloomberg and Carney, and all they represent, are the problem dressed up as the solution? That our definition of success is what dooms us?

Philosophers, religious people, or you and me, may struggle with the question “what’s the purpose of life?”. These guys do not. The purpose of life is to make a profit. The earth and all the life it harbors exist to kill, drill, excavate and burn down, if that means you can make a profit. And after that you repair it all for a profit. In their view, the earth doesn’t turn of its own accord after all, it’s money that makes it go round.


The worrisome thing is that Mark and Michael will be listened to, that they are allowed a seat at the table in the first place, whereas you and I are not. A table that will be filled with plenty more of their ilk, as the announcement of Bill Gates’ billionaire philantropist energy fund says loud and clear:

Microsoft co-founder Bill Gates and a group of high-profile executives are investing $1 billion in a fund to spur clean energy technology and address global climate change a year after the Paris climate agreement. Gates launched the Breakthrough Energy Ventures fund on Monday along with billionaire entrepreneurs such as Facebook head Mark Zuckerberg, Alibaba Chairman Jack Ma and Amazon.com chief Jeff Bezos. The fund seeks to increase financing of emerging energy research and reduce global greenhouse gas emissions to help meet goals set in Paris, according to a statement by the investor group known as the Breakthrough Energy Coalition.

Yes, many of the same folk and/or their minions were sitting at the table with Trump on Dec 14. To see if there are any profits to be made. When a profit is involved they have no trouble sitting down with the same guy they insulted and warned against day after grueling day mere weeks ago. They have no trouble doing it because they insulted him for a potential profit too. It’s business, it’s not personal.

Billionaires will save us from ourselves, and make us -and themselves- rich while doing it. What is not to like? Well, for one thing, has anybody lately checked the energy footprint of Messrs. Bloomberg, Gates, Ma, Zuckerberg, Bezos et al? Is it possible that perhaps they’re trying to pull our collective wool over our eyes by pretending to care about those footprints? That maybe these ‘clean energy’ initiatives are merely a veil behind which they intend to extend -and expand- said footprints?

The ones in that sphere who wind up being most successful are those who are most convincing in making us believe that all we need to do to avert a climate disaster is to use some different form of energy. That all the talk about zero emissions and clean energy is indeed reflecting our one and only possible reality.

That all we need to do is to switch to solar and wind and electric cars to save ourselves (and they’ll build them for a subsidy). That that will end the threat and we can keep on doing what we always did, and keep on growing it all and as the cherry on the cake, make a profit off the endeavor.


None of it flies even a little. First of all, as I said last week in Mass Extinction and Mass Insanity, there are many more problems with our present lifestyles than ‘only’ climate change, or the use of carbon. Like the extinction of two-thirds of all vertebrate life in just 50 years leading up to 2020. There’s -close to- nothing wind and solar will do to alleviate that.

Because it’s not oil itself, or carbon in general, that kills; our use of it does. And the rush to build an entire new global infrastructure that is needed to use new energy forms, which will depend on using huge amounts of carbon, is more likely to kill off that globe than to save it. “Carbon got us in this, let’s use lots more of it to get us out”.

The trillions in -public- investment that would be needed will make us all dirt poor too, except for the gentlemen mentioned above and a handful of others who invent stuff that they manage to make us believe will save us. Still convinced?


The lifestyles of the last 10 generations of us, especially westerners, are characterized more than anything else by the huge increase in the use of energy, of calories and joules. As we went from wood to peat to coal to oil and gas, the energy return on energy investment kept going higher. But that stopped with oil and gas. And from now on in it will keep going down.

“Free carbon excess” was a one-off ‘gift’ from nature. It will not continue and it will not return. Different forms of carbon have offered us a one-time source of free energy that we will not have again. The idea that we can replace it with ‘clean energy’ is ludicrous. The energy return on energy investment doesn’t even come close. And you can’t run a society with our present levels of complexity on a much lower ‘net energy’. We must dress down. No profit in that, sorry.

We built what we have now with oil at an EROEI of 100:1. There are no forms of energy left that come remotely close, including new, unconventional, forms of oil itself. Peak oil has been a much maligned and misunderstood concept, but its essence stands: when it takes more energy to ‘produce’ energy than it delivers, there will be no production.

This graph is a few years old, and wind and solar may have gained a few percentage points in yield, but it’s still largely correct. And it will continue to be.



We have done with all that free energy what all other life forms do when ‘gifted’ with an excess of available energy: spend it as fast as possible, proliferate to speed up the process (we went from less than 1 billion people to 7 billion in under 200 years, 2 billion to 7 billion in 100 years) and, most of all, waste it.

Ever wonder why everybody drives a car that is ten times heavier then her/himself and has a 10% efficiency rate in its energy use? Why there’s an infrastructure everywhere that necessitates for every individual to use 1000 times more energy than it would take herself to get from A to B on foot? Sounds a lot like deliberately wasteful behavior, doesn’t it?

The essence here is that while we were building this entire wasteful world of us, we engaged in the denying and lying behavior that typifies us as a species more than anything: we disregarded externalities. And there is no reason to believe we would not continue to do just that when we make the illusionary switch to ‘clean’ energy.

To begin with, the 2nd law of thermodynamics says there’s no such thing as clean energy. So stop using the term. Second, that we call wind and solar ‘clean energy’ means we’re already ignoring externalities again. We pretend that producing windmills and solar panels does not produce pollution (or we wouldn’t call it ‘clean’). While enormous amounts of carbon are used in the production process, and it involves pollution, loss of land, loss of life, loss of resources (once you burn it it’s gone).


An example: If we want to ‘save’ the earth, we would do good to start by overthrowing the way we produce food. It presently easily takes more than 10 calories of energy -mostly carbon- for every calorie of food we make. Then we wrap it all in (oil-based) plastic and transport it sometimes 1000s of miles before it’s on our plates. And at the end of this process, we will have thrown away half of it. It’s hard to think of a more wasteful process.

It’s a process obviously devised and executed by idiots. But it’s profitable. There is a profit to be made in wasting precious resources. And there is a key lesson in that. There is no profit in producing food in a more efficient way. At least not for the industries that produce it. And perhaps not even for you, if you produce most of your food – it takes ‘precious’ time.

It would still be hugely beneficial, though. And there’s the key. There is no direct link between what is good for us, and the planet, on the one side, and profit, money, on the other. What follows from that is that it’s not the people whose entire lives are centered around money who are the most obvious choices to ‘save the planet’. If anything, they are the least obvious.

But in an economic and political system that is itself as focused on money as ours is, they are still the ones who are allowed to assume this role. It’s a circle jerk around, and then into, a drain.


Mankind’s only chance to not destroy its planet lies in diverging from all other species in that not all energy available to it, is used up as fast as possible. But that’s a big challenge. It would, speaking from a purely philosophical angle, truly separate us from nature for the first time ever, and we must wonder if that’s desirable.

We would need to gain much more knowledge of who we are and what makes us do what we do, and why. But that is not going to happen if we focus on making a profit. Using less energy means less waste means less profit.

Yes, there may be energy sources that produce a bit less waste, a bit less pollution, than those that are carbon based. But first, our whole infrastructure has been built by carbon, and second, even if another energy source would become available, we would push to grow its use ever more, and end up initially in the same mess, and then a worse one.



I stumbled upon an excellent example of the effects of all this today:

The Shattering Effect Of Roads On Nature

Rampant road building has shattered the Earth’s land into 600,000 fragments, most of which are too tiny to support significant wildlife, a new study has revealed. The researchers warn roadless areas are disappearing and that urgent action is needed to protect these last wildernesses, which help provide vital natural services to humanity such as clean water and air. The impact of roads extends far beyond the roads themselves, the scientists said, by enabling forest destruction, pollution, the splintering of animal populations and the introduction of deadly pests.

An international team of researchers analysed open-access maps of 36m km of road and found that over half of the 600,000 fragments of land in between roads are very small – less than 1km2. A mere 7% are bigger than 100km2, equivalent to a square area just 10km by 10km (6mi by 6 mi). Furthermore, only a third of the roadless areas were truly wild, with the rest affected by farming or people.

The last remaining large roadless areas are rainforests in the Amazon and Indonesia and the tundra and forests in the north of Russia and Canada. Virtually all of western Europe, the eastern US and Japan have no areas at all that are unaffected by roads.



It’s a good example because it raises the question: how much of this particular issue do you think will be solved by the promotion of electric cars, or windmills? How much of it do you think can be solved for a profit? Because if there’s no profit in it, it will not happen.

One more for the philosophy class: I know many people will be inclined to suggest options like nuclear fusion. Or zero point energy. And I would suggest that not only do these things exist in theory only, which is always a bad thing if you have an immediate problem. But more than that: imagine providing the human race with a source of endless energy, and then look at what it’s done with the free energy available to it over the past 10 generations.

Give man more energy and he’ll just destroy his world faster. It’s not about carbon, it’s about energy and about what you yourself do with it. And no, money and profit will not reverse climate change, or any other detrimental effects they have on our lives. They will only make them worse.




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