JoNova

A science presenter, writer, speaker & former TV host; author of The Skeptic's Handbook (over 200,000 copies distributed & available in 15 languages).


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Well that explains everything: Bankers bullied Australia into Net Zero

Hands Up: It’s Net Zero now or a 1.5% interest rate hike?

So Australia is adopting Net Zero because the Global Financiers, who only want to save the world, would have refused to lend us money without jacking up our interest rates by 1.5%. The banker punishment would have meant a “17% investor exodus”. Fancy a stock market collapse?

This remarkable admission comes in the modeling released today by the Morrison government. No one is even trying to hide it.

At least we can stop pretending this has anything to do with science or the voters. Just cut out the IPCC and go straight for the BlackRock Temperature Tax, eh?

Note the “penalties” are imposed by global financiers:

Modelling shows real cost of no net-zero carbon emissions

Greg Brown and Geoff Chambers, The Australian

Businesses and households would have faced interest rate hikes of up to 1.5 per cent under expected penalties imposed by global financiers if the government had failed to adopt net zero emissions by 2050, modelling for the Glasgow climate package shows.

The penalty regime would have sparked a 17 per cent investment collapse by the middle of the […]

ANZ bankers kneel to carbon God, betray Australian farmers, miners — “don’t deserve a banking licence”

How to incense whole industries ANZ style The ANZ bankers declared this week that they are really in the business of saving the Earth, even if Australians didn’t vote for it. They declared some law abiding businesses were unworthy of their loans, and thousands of Australians in the steel industry, farming, and manufacturing are livid. The bank is now telling its customers that interest payments are not enough, and those with 50% or more of their operations in coal must diversify. They may well diversify right out of ANZ — a boycott is being discussed. And for shareholders this preening would seem like a dumb way to lose customers. But in Australia it’s worse than that. The right to earn interest by loaning money they mostly don’t have (by creating paper currency from thin air) is a glorious gift bestowed on them by an Australian banking license. It’s a perpetual money making machine, granted by a government group called APRA. ANZ is one of The Big Four Banks in Australia. It is supposed to provide an essential service, and in return APRA protects it by using the power of the state to run any new competitors off the ranch and […]

Worlds “Largest Shadow Bank” wants Australia to shut coal plants faster

Because Big Bankers really want to save the Earth, right?

BlackRock, the 10 trillion dollar “global investment fund” is urging the Australian company AGL to shut Bayswater and Loy B Yang Coal Plants much sooner than planned. BlackRock is a NY based and as wikipedia says “Due to its power, and the sheer size and scope of its financial assets and activities, BlackRock has been called the world’s largest shadow bank.”

The move only got 20% support from investors. Australian investors largely said “no thanks”. Where are The Greens in exposing multinational powers that want to influence Australia — they’re part of the Big Banker Promotion Team.

BlackRock turns up the heat on AGL’s coal exit plans

Nick Toscano, Sydney Morning Herald

AGL faced an investor revolt on Wednesday, as more than 20 per cent of the company’s shareholders backed a resolution for the board to align the retirement of the Loy Yang A power plant in Victoria and its Bayswater station in New South Wales with a strategy to limit global warming to 1.5 degrees.

This would mean shutting Loy Yang A, the largest brown coal fired power plant in Victoria, […]

Goldman Sachs pledges $750 billion on climate change — bankers just want to save the world too

Just when you think banks are only in it for the money, along comes Goldman Sachs to advise us on the planetary atmosphere:

“Goldman Sachs released a 34-page analysis of the impact of climate change. And the results are terrifying.”

All these nice banks want to save Earth too.

Yusef Kahn, Business Insider, Sept 2019

For some reason (what could it be?) a few months ago the Goldman Sachs investment bank was gripped with a sudden urge to repackage the IPCC report. Perhaps they were afraid their clients didn’t watch CNN, the BBC, or, pick-any-channel, maybe they couldn’t afford a television?

A Goldman Sachs report on the impact of climate change on cities across the world makes for grim reading. The bank warned that “consequences of a warming world may well play out over several decades to come, even if efforts to limit greenhouse gas emissions are successful today.” Rising temperatures would lead to changing disease patterns, more intense and longer-lasting heatwaves, more destructive weather events, and pressure on the availability and quality of water for drinking and agriculture.

“Despite the uncertainty around the timing and scale of the impact, it may be prudent […]

Giant Spanish Bank spends €100 b on Earth’s weather, cos they are nice people

This absolutely definitely is not about profits or money.

Giant Spanish bank announces €100 billion plan to fight climate change

BBVA, the second largest bank in Spain, has launched a major new financing initiative to support sustainable development and combat climate change in the coming years.

Only gas and oil companies are “vested interests” seeking to profiteer from our demise. Banks are charities:

BBVA Group Executive Chairman Francisco González said, “At BBVA, we want to play a key role in mobilizing resources to halt climate change and promote sustainable development. It is an ambitious, long-term goal in line with our purpose of ‘bringing the age of opportunity to everyone.’”

Apparently, the bank’s role is to change Earth’s climate, and “bring the age of opportunity to everyone”.

Do their shareholders know, I wonder?

Can anyone see an elephant?

Warning — Meaningless acronym coming — SBTI:

BBVA has also become the first Spanish bank to commit to the Science Based Targets Initiative. The campaign helps major corporates work out how they have to cut emissions to prevent the impacts of climate change.

The group’s new strategy is called Pledge 2025…

If you wanted […]

Most of Asia’s bankers ignore climate risks. Hmm. Rich and dumb, or rich and skeptical?

A survey in Asia found that 69% of financial institutions there don’t bother with assessing climate change risks when considering financing projects. Either these bankers have missed the last 20 years of IPCC messaging (careless inattentive bankers), or they’ve seen it and they know it’s baloney (skeptical bankers). Hmmm. What’s more likely?

Looks like two thirds of Asian banks don’t believe the IPCC:

[The new survey] …undertaken by Asia Research and Engagement with support of Australia and New Zealand Banking Group Limited, … found that 31 per cent of the institutions factored climate change risks into their financing operations, with 61 per cent of banks referring to green products and 56 per cent providing some quantification of their exposure.

It said financial institution were factoring climate change risks into their policies and offered green finance products. But only over a quarter of banks referred to climate change factors as a reason to limit financing .…

The bottom line is always where the money goes.

So over two thirds of financial institutions couldn’t care less about those forecasts of beachside apartments sinking under the waves, or cities becoming unlivable, nor of coal mines supposedly going broke. Nor […]

Central banks drive booms and busts, and force everyone to be a high risk speculator

It doesn’t have to be this way. The most important price in our economy is set by a bunch of bureaucrats. They are unelected and unaccountable. But your day to day life is affected by their decisions, as well as your ability to buy a house or for your retirement savings to maintain their value. Some people are wiped out by a mere phrase in a memo. There is a deep Soviet style management program at the centre of all Western economies. It’s time we talked about that ogre.

Maurice Newman, former chair of the Australian Stock Exchange (ASX), writes in The Australian about the defining invisible issue which is rarely discussed — our currencies, our central banks:

Vladimir Lenin advocated: “The best way to destroy the capitalist system is to debauch the currency.” True or not, we seem hellbent on finding out.

Dark times are coming:

The BIS has rung the alarms. We are warned that the world’s most reckless monetary experiment, which has taken interest rates to the lowest in recorded history, is failing. Central bankers remain silent, not knowing how or when to end what they began, while the political class simply looks […]

Climate change is potentially a $7 Trillion dollar money making venture (for bankers)

The tide of money, the vested interests flows

H/t to Eric Worrall at WattsUp.

The current “green” industry is already around $1.5 Trillion a year. Mark Carney, the Governor of the Bank of England said he expects this to grow to $5-7 trillion.

Financial Post: Climate change a $7 trillion funding opportunity

He said that given the enormous funding needs for clean infrastructure — he estimates at somewhere between $5 trillion and $7 trillion a year — investment opportunities will rebound.

If clean green energy was efficient, cheap and reliable there would be no “funding need” as the market would leap to exploit that opportunity. Instead most leading investors act like they are skeptics. The fact that central bankers are selling it so aggressively says a lot. Perhaps central bankers want to help the poor and save the world, or could it be that the entire financial industry will profit from a fake, forced market and another fiat currency? What are the brokerage fees on a $7T market…

Again we get this “free market” myth:

[Carbon pricing is the cleanest way for markets to judge the tangible exposure to climate change,” said Carney

[…]

Banks *really* want to save the world. Citigroup commits $100 billion to “climate change”. Media loves it.

The wall of money is enormous, and the media oblivious to the real flow from taxpayers to corporate welfare freeloaders.

The wall of money, part 23

Citigroup promised to spend, invest and loan $50 billion in 2007 and found it so easy, it managed to do it by 2013, three years ahead of schedule. This month it promised to send another $100 billion more towards “sustainability”.

How much of this is about being a green corporate citizen? Not much apparently. Citigroup are making the Citigroup buildings energy efficient, but what they didn’t say was whether they would stop investing in or taking money and profits from their fossil fuel customers. As it happens Citigroup might Big-Green, but they are also Big-Ungreen too, they were one of “the top providers of funding for the most damaging practices of the U.S. coal industry last year. “ Not that any journalist mentioned that when they repeated the press release.

The banks can sniff out a good subsidy — it’s money for jam, and they are happy to feed the machine that feeds them.

Easy money for “sustainability” will also generate thousands of scary press releases from each and every sub-project as they […]

When is a free market solution *not* the answer? When it isn’t free.

Profit through regulation of markets

Which caring environmentalists are trying to save the world through carbon credits? That would be the Banksters. Watch how the banks are working to “fix” the free market, via intervention and regulation, and milk the system to maximize profit. The so called capitalist pigs are really working in the style of the Soviets.

How sick is the EU carbon market? “It’s a dead man walking” according to Johaness Teyssen, chairman of EON.

The price of carbon hit record lows recently:

Carbon permits plunged to a record after European Union data showed emissions from factories and power stations in the region fell more than expected last year amid milder-than-normal weather.

EU carbon for December dropped 11 percent to close at 6.34 euros ($8.45) a ton, the biggest loss since April 28, 2006 on the ICE Futures Europe exchange in London. The previous low was 6.38 euros on Jan. 4. Power-industry emissions dropped to 2009 levels, said Matteo Mazzoni, an analyst for NE Nomisma Energia Srl in Bologna, Italy.

“That is the elephant in the room,” he said today by e- mail. “And then, of course, you have stagnating industrial production.”

But wait. Isn’t “lower industrial […]