Carney Threatens World Financial Collapse, as Extinction Rebellion Sends the Same Message
Oct. 14, 2019 (EIRNS)—Bank of England Governor Mark Carney threatened the world with sudden global financial collapse unless it adopts his insane green finance dictatorship. In an interview published Oct. 13 in the Guardian, he warned that companies and industries that do not adopt his zero-carbon emissions dictate will be cut off from investment and go bankrupt.
“There will be industries, sectors and firms that do very well during this process, because they will be part of the solution,” he said. “But there will also be ones that lag behind, and they will be punished.”
Carney was echoing what he told the Daily Mail in a July 31 interview: “Companies that don’t adapt, including companies in the financial system, will go bankrupt without question.”
Not only coal companies are at risk but banks as well.
“Just like in any other major structural change, those banks overexposed to the sunset sectors will suffer accordingly,” he told the Guardian on Sunday “Some [assets] will go up, many will go down. The question is whether the transition is smooth or is it something that is delayed and then happens very abruptly. That is an open question,” he said. “The longer the adjustment is delayed in the real economy, the greater the risk that there is a sharp adjustment.”
“There is a need for [action] to achieve net zero emissions, but actually it comes at a time when there is a need for a big increase in investment globally to accelerate the pace of global growth, to help get global interest rates up, to get us out of this low-growth, low-interest-rate trap we are in.”
Declaring that the City of London is positioned to become the green finance center of the world, Carney said,
“Certainly the U.K. financial system is one of the most sophisticated at managing this risk. The U.K. can extend that lead, for the good of the U.K., for the good of the world. A number of the industrial solutions draw on the strengths of U.K. innovation, from the use of artificial intelligence in energy systems through to potentially advanced materials like graphene. There is a big upside for the U.K. economy.”
As if to support Carney’s drive for a green financial dictatorship, the Extinction Rebellion—which pretends to be a Gandhian grassroots green outfit, but rakes in millions from billionaires—took to the City of London square mile. One hundred XR members demonstrated outside the Bank of England early this morning before the markets opened. Echoing Carney’s statements to the Guardian, XR released a statement declaring:
“Extinction Rebellion this morning are disrupting the system bankrolling the environmental crisis. The day of disruption, which will target financial institutions, seeks to highlight the far greater disruption faced by those living in the environments systematically being destroyed by U.K.-backed companies. The ecological damage is global, and it is hitting the global south now.”
The XR demonstrators are quoting by the Guardian as saying they will focus on the financial institutions “funding environmental destruction.”