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 next decade, cutting 0.9 per cent from gross domestic product and making each Australian more than $650 poorer.
Households would have paid an extra $25bn a year to service home loans, and business and credit card debts.
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? …
The real rulers are the ones who decide the rules and the penalties.
So there you have it. The international deep state has set the policy, and international finance will fine us if we don’t follow along. How the world really works.
Consider how banking works. Bankers manufacture bits of paper — or just electronic records nowadays — and the rest of us have to earn them with real goods and services. Can anyone emit bits of paper in exchange for real goods and services? No, only bankers are allowed to do it.
Most people will work for their money, some people just manufacture money out of thin air. Nice work if you can get it. It is no accident that bankers and financiers lead lives of luxury without having to work hard.
Now consider how carbon trading works. Some people get to manufacture bits of paper — or electronic certificates for emission allowances — and the rest of us will have to earn them with real goods and services. Can anyone make carbon emission certificates? Of course not.
Most people will work for their carbon emission certificates, some people just manufacture them out of thin air. I sense a new class of people who live lives of luxury with the best available healthcare.
No wonder the bankers and bureaucrats want carbon trading.
Fool me once, shame on me. But twice?