The Great Reset And NGFS

The Great Reset Updated: You Might Not Have Heard of NGFS, but NGFS Has a Plan for You

Virgil

Here’s a December 15 headline in the New York Times that should not have been lost in the holiday whirl, nor in the general hubbub of news since: “Fed Joins Climate Network, to Applause From the Left.”

As the article details, the U.S. Federal Reserve Board, the nation’s central bank, has officially joined the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). That’s “Greening,” as in “environmentalism,” “Greta Thunberg,” “Green New Deal,” and all that. And as the Times makes clear in its headline, the left is loving it.

NGFS is an organization that few Americans have heard of, and yet it’s potentially one of the most powerful entities on the planet: Its roster of members and observers is nearly 100, including such mighties as the Bank of Japan, the European Central Bank, and the International Monetary Fund. And now, the U.S. Federal Reserve. So we can see that just about all the money in the world passes through its institutions. That’s power. 

It’s interesting to note that in the past, the left has been mostly hostile to big financial institutions, seeing them as pillars of Capital. And yet nowadays, the left—at least its huge green faction—is cheering for the financiers. 

Why this turnabout? Because NGFS is an an institution that the green left can control, and thus guide, in its pursuit of “sustainability”—that being the favored buzzword of the ecologically woke. As NGFS says of itself, its mission is to “contribute to the development of environment and climate risk management in the financial sector to mobilize mainstream finance to support the transition toward a sustainable economy.”

So now we’re starting to get the picture: NGFS is the global fusion of Big Green and Big Money, also known as Woke Capital.  

And yes, it’s that same Woke Capital that’s been leading the push for “The Great Reset”—the wholesale remaking of national and international societies and economies, all in accordance with the politically correct vision of Klaus Schwab and his plutocratic pals at the World Economic Forum—which Virgil, and many others here at Breitbart News, have heartily critiqued. 

In the meantime, conservatives, populists, and sovereigntists—those who believe that the U.S. should retain sovereignty over its own affairs—have been viewing these developments with alarm. Indeed, it’s been pressure from the right that kept the Fed from joining NGFS much earlier. As the Times explains, the Fed’s formal membership in NGFS “is something that Democratic lawmakers have been pushing for and that Republicans have eyed warily.”  

Meanwhile, the U.S. Fed has the power to choke off bank financing for any business, or even for a whole industry; that is, if the Fed declares something to be a “systemic credit risk,” lenders will shy away, lest they be labeled as violating their fiduciary responsibilities.  

In this fashion, the Fed could build a blockade against industries despised by the greens, including oil and natural gas, mining, and manufacturing.  As Barr and his allies wrote in their letter, “The enormous power of the Fed should not be weaponized to discriminate against a wide swath of American industry.” 

Of course, such discrimination is exactly what NGFS—now including the Fed—has in mind: to use the power of discriminatory finance to force industries, companies, and people to go green. Either that, or cease to exist altogether.

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