Central Banks Warn Of Green Swan Foreshadowing "Death Knell Phase"

The oil industry should have been boycotted in the early 70s, or even sooner, because electric cars were already fully efficient but suppressed by the petrol giants and media as a whole. That is why profit-seeking is a fallacious premise because it encourages corruption at the expense of Life itself.

Property rights can never be because humans do not have any birthrights and that human rights are "not" birthrights by definition. Human rights do not stand against the competition (the right to trample and kill legally). Look at the weapon industry which is allowed to exist because of profit. So as long as a system condones such an aberration forget about the right to freedom.

Global Debt To Hit All Time High $255 Trillion, 330% Of World GDP (zerohedge - NOV 2019)

But if we look closer at the "property rights" we do not own anything since we are transient anyway and this is very important to grasp to realize the grand deception of capitalism. And this means that such a system must sooner or later enter a "death knell phase". Climate issues are not the cause but monetary policies and greed of course but it's all too convenient to blame CO2. We need a system change!

World’s consumption of materials hits record 100bn tonnes a year - Unsustainable use of resources is wrecking the planet but recycling is falling, report finds (guardian-uk jan 2020)

Recycling fails because there are much fewer profits to earn from it.

We need a shift to birthrights so that the whole planet becomes "common heritage" but this also means that monetarism must be abolished. Many may say that it is because corporations have no right to exist that were are in this situation but the fact is that they embody the end result of the property rights fallacy in the first place.

If we are serious about ending the corporate dictatorship, we must also terminate property rights to prevent some from endlessly consolidating their assets. We cannot have it all.

A Common Heritage premise is mainly characterized by "a circular economy" and cooperation so that the environment can replenish itself as we consume and the need for raw materials remains minimalistic. We have to choose between a simpler and less stressful lifestyle (with the help of technology to replace low skilled labor) and the Dystopian fantasy of "capitalizing on despair" across the board because problems and stalling knowledge are by far more profitable. And time is running out.

Common heritage of mankind is a principle of international law which holds that defined territorial areas and elements of humanity's common heritage should be held in trust for future generations and be protected from exploitation by individual nation states or corporations. (wiki)

What gets us more worried here is that central banks define the threat as "uninsurable" and in our view that may well mean that the world won't be bailed out, and that we are going to hit the dead-end at some point with the very possibility of a derivatives domino-style collapse.

We recently hooked up with Tevin Chidester, founder of We Agree Life, and here is what he has to say. We actually do happen to agree, should Degrowth be unimplementable in a timely fashion.

No war, poverty, molestation, mining or polluting the planet to death. No hierarchy or media programming. First, we must unite to free all life! https://www.weagree.life/

FURTHER READINGS

'They're Done': CNBC's Jim Cramer Says Fossil Fuel Industry 'In the Death Knell Phase' | February 1, 2020

“They're done,” Cramer said of fossil fuels on the network's “Squawk Box.” “We're starting to see divestment all over the world. We're starting to see … big pension funds saying, 'We not going to own them anymore.” ----------- “The world's changed,” Cramer continued. While companies like BP still mark profits, “nobody cares,” because “new money managers want to appease younger people who believe that you can't ever make a fossil fuel company sustainable.” ------------ “You can tell that the world's turned on them, and it's actually kind of happening very quickly,” said Cramer. “You're seeing divestiture by a lot of different funds. It's going to be a parade … that says look, 'These are tobacco, and we're not going to own them.'” https://www.desmogblog.com/2020/02/01/cnbc-jim-cramer-fossil-fuel-industry-death-knell-phase

‘Uninsurable and Unhedgeable’: Central Banks Warn of Financial Crisis from Climate Change | January 31, 2020

A future climate disaster, or “green swan” event, could bring down the global financial system, according to a new report from the Bank for International Settlements (BIS), an international financial organization that serves as a bank for central banks around the world. --------- Like black swan events, “green swan” events will be very difficult to predict and will hit with little warning. The potential for a cascading series of crises stemming from climate change threatens global financial stability, and the world’s central banks are not equipped to respond to them, or even predict what exactly might unfold, the 100-page BIS report said. ------------ Transition risk refers to the repricing of assets as the global economy shifts towards cleaner energy, such as an oil company losing much of its value following the passage of a painful carbon tax. Both types of risk “are characterized by deep uncertainty and nonlinearity,” BIS said. Worse, they will interact with each other, resulting in feedback loops that could deepen financial stress. The destruction of coastal real estate could trigger bank failures or the collapse of insurance markets as losses pile up, for example. The ripple effects are difficult to predict, and the 2008-2009 financial crisis is a reminder that the financial system can seize up in an instant. -------------- However, green swan events are different from a typical “black swan” event in that while the details or timing of the disaster are unpredictable, there is nevertheless a high degree of certainty that climate catastrophes will indeed happen. And they are “even more serious than most systemic financial crises: they could pose an existential threat to humanity,” the BIS report warned. https://www.desmogblog.com/2020/01/31/green-swan-central-banks-financial-crisis-climate-change