April 6, 2023 - The Truth Central - Dr. Jerome Corsi
36:17
As the Dollar and US Economy are Crumbling, Biden and Yellen Double Down on Climate Hysteria
The National Debt is crushing the US Economy, the dollar declines around the world, the Chinese Communist Party extends its global influence and too much taxpayer money is wasted. Still, the Biden Administration continues to overspend and double down on the Climate Change Agenda's collective hysteria.Dr. Jerome Corsi explains why, the motivation and the plan on today's The Truth CentralVisit Dr. Corsi's The Truth Central website: https://www.TheTruthCentral.comMyVitalC: https://www.thetruthcentral.com/myvitalc-ess60-in-organic-olive-oil/Swiss America: https://www.swissamerica.com/offer/CorsiRMP.phpBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-truth-central-with-dr-jerome-corsi--5810661/support.
We're going to cover some stories today about, I think, are pretty fascinating.
The first one here has to do with the Federal Reserve.
And I'm actually kind of shocked by this story.
The Biden administration is now ordering the Federal Reserve to worry about climate change.
Okay, good.
I mean, so, you know, we've got bank failures, we've got inflation going through the roof, we have people losing jobs, thousands being laid off now by all the big tech companies, McDonald's joining in on big layoffs, and what the Biden administration is worried about is climate change.
Now, this story, the first story I want to cover, It really kind of took me by surprise.
The Federal Reserve on Tuesday has ordered a pilot climate scenario test.
So what banks are now going to be required to do is to analyze their portfolios, which means basically their loans, in terms of the climate risk.
Okay, so they're saying that climate risk management practices have to be taken into account when building the information about whether loans, commercial loans, residential loans, etc.
are desirable.
It's not whether the loan is gonna be profitable, it's whether the house has the right insulation, whether the building is using the right codes with regards to heat and cooling.
They can have all kinds of standards, whether you've got a, how about if you've got a natural gas stove in your house?
Maybe that means you don't get quite as good a loan, or maybe you don't get one at all.
So banks have to consider the impact On corporate loans and commercial real estate portfolios based on a scenario of reaching net zero greenhouse gas emissions by 2050.
These scenarios are not forecast or policy prescriptions, but can be used to build understanding of climate related risks.
So what they're trying to say is that if you don't take into consideration of climate risk, you're going to have all kinds of natural disasters and weather, and your portfolio is going to be risky, and also you're going to not be meeting the net zero emission standards that we're all going to be held to.
Which does suggest very strongly the government's going to monitor us internally in our houses and our buildings, commercial buildings, with regards to how much energy we're using.
Probably all have to have a climate portfolio in our personal credit score.
That's probably coming.
So, it seems to me that the business of banking should be banking.
That the Federal Reserve ought to be worried about inflation, ought to be worried about the trillions of dollars of treasury debt that has been on the portfolio, on the asset portfolio of the Federal Reserve because it's quantitative easing.
We've been buying our own debt.
The Federal Reserve has trillions of dollars of zero coupon, or near zero coupon, no interest paid.
Treasury bonds, because it's fed through the Obama years, kept the interest rates at zero.
The rates go up under Trump's administration, but now, again, we have interest rates going up to close to 5%, which is going to affect real estate and all kinds of other aspects of our economy.
Gold is still trading over $2,000 an ounce.
Gold is, I think, going to really explode in its value.
But the Federal Reserve is going to be worried about climate change.
Now, Chris, if you'll put up my book on climate change, what I demonstrate in this book is that, first of all, the agenda of the climate change movement began to develop in the 1950s, right after World War II.
It began to develop as a movement.
There's my book.
We have a new page on the website of my books.
And this one's one, I think, it's close to 400 pages long.
It's one of my better books, I think.
It demonstrates the climate movement came out of the Malthusians.
There was a group of writers after World War II, ended up in the 60s with Paul Ehrlich, who did the Population Bomb.
Harrison Brown was an earlier one.
Most people don't know him today, but he worked on the Manhattan Project.
He was a nuclear scientist, and he used to write books about too many people.
Too many people were using all the Earth's natural resources, so therefore we have to have population control.
Well, that movement got co-opted by John Ehrlich, who is Obama's science czar.
In the 60s, John Ehrlich—sorry, Ehrlich teamed up with Paul Holder.
Holder teamed up with Ehrlich.
The science czar and the guy who wrote the population bomb teamed up and they decided that they were going to say that the biggest threat, the existential threat, was if we keep using hydrocarbon fuels, which emit carbon dioxide, we're going to have increased global warming, the Earth's going to be too warm, we're all going to die.
You see, the whole point of the Malthusian movement, Paul Ehrlich, too many people, was that if we don't have birth control, if we don't let the government tell us how many children we can have, if we don't have open abortion at will, we're going to all die because we're going to use up the resources of the earth.
There's not enough resources to go around with all these people.
People are the problem.
And then when John Ehrlich got into the deal, John Holdren, John Holdren got into the deal with Ehrlich.
They added to it the climate issue because they realized that just saying there were too many people wasn't enough.
And if they could demonize carbon dioxide, which we exhale, we exhale carbon dioxide.
That's what they're talking about.
Plants absorb carbon dioxide.
That's why the earth is so green these days.
Carbon dioxide is actually beneficial for the planet.
And if they combine these two things, now they've got a real reason to say, we've got to stop using hydrocarbon fuels, which will end capitalism.
Because this agenda was always an anti-capitalist agenda.
And it got co-opted by the AOCs and became a Marxist agenda.
Okay, that's the evolution of this movement.
The idea that there's too many people, that the earth is going to run out of resources, I argue against strongly in this book.
Basically, Ehrlich's whole vision was negative.
People are the problem.
Okay.
Well, I look at economists who said that the earth is abundant in resources.
We're not going to run out of resources.
We've never run out of resources that we worry about it.
But, you know, in the 1850s, they were worried about running out of coal.
Well, we now have more coal today than we've ever had in terms of available resources because we can mine more, we can do it more cheaply, it's more effective.
We have so much coal we don't know what to do with and we're saying we don't wanna use coal at all because it emits carbon dioxide and somehow dirty.
Well, this is gonna mean a less abundant life for everyone, lower standard of living.
And that's what this agenda is about.
We're going through an architecting right now of a new reality.
And this is a fundamental paradigm shift we're living through right now.
And people don't realize it because it's hard to see it as it's going on.
But we're going into an oligarchical world where a small group thinks they're privileged.
They can, with their machines and their computers, they don't need all these people.
We can have McDonald's, which can be run by robots.
We don't need employees.
And the whole obsolescence of people, which this radical left in the climate movement now calls us the Anthropocene.
In other words, we're now living through the new era, which is the human era, Anthropocene.
Anthro is the word for human being in ancient Greek.
So the idea is that we are our own cause of destruction.
People are the problem.
We are going to destroy our existence because we're using hydrocarbon fuels.
Now this whole theory is scientifically nonsense.
Carbon dioxide is a very small trace molecule in the atmosphere.
It's much less than one percent.
Point zero zero four percent.
Seventy percent of all global warming Agents, water vapor is the major one.
Water vapor is the basic element which keeps the planet warm enough at night.
And go outside at night.
This is a hard concept to get across to the left.
Sun heats the earth.
They don't want to admit that.
They want to say carbon dioxide heats the earth.
The major, go outside, take a look at the sky.
That big yellow thing up there is not a tree ornament.
That's the sun.
That's why we have heat and light on earth.
And at nighttime, I mean, go outside, another big, Marxists have a hard time with this, it's cooler at night.
Why?
Because the sun is not shining.
These are hard concepts, right?
But the point is to focus on carbon dioxide as a greenhouse gas that is the bane of our existence.
Is nonsense.
There was much more carbon dioxide, geologically, going back billions of years, when we had ice ages.
We have a lot less carbon dioxide on Earth right now than ever.
But that's not what you're going to be told by the left.
Left doesn't think they have to tell you the truth, they can lie.
Now if we get back to Janet Yellen, the second article I posted today here, Uh, again, I thought for a while maybe the Federal Reserve doing this pilot test is, well, that's just the Federal Reserve today.
Maybe it doesn't.
Then I started looking about Janet Yellen.
And I realize that Janet Yellen's been on this theme as Treasury Secretary.
Now, here she is warning that climate change is going to cascade through the financial system.
Remember, Janet Yellen's not a climate scientist.
She doesn't have a degree in environmental sciences.
She is the Treasury Secretary.
Now, she had the first meeting of this Climate-Related Financial Risk Advisory Committee Which is what I've been talking about in the first part of the podcast today.
The Federal Reserve is going to worry, in terms of its loans, about climate change.
And she's saying, a delayed and disorderly transition to a net zero economy can lead shocks to the financial system as well.
What?
This stuff is, this should be a comedy show.
She says, as climate change intensifies, natural disasters and warming temperatures can lead to declines in asset values that could cascade through the financial system.
She said during this meeting of this climate meeting, financial system climate meeting, a delayed and disorderly transition to a net zero economy can cause shocks to the financial system as well.
And climate-related disasters have caused economic losses through infrastructure damage.
Disruptions in critical services and property loss values, according to a federal government report last year, which said we had nearly eight billion, we had eight $1 billion disasters every year over the past four decades.
Past five years, it's jumped to nearly 18 events.
When a hurricane occurs or a tornado, it's going to cause more damage because the areas are more developed than they were 20 years ago.
It's not that we have more tornadoes or more hurricanes.
If they really would look at the statistics, we don't.
We actually don't have global warming occurring on earth, not in any measurable or important way.
I mean, they're saying one or two degrees is going to mean that we've got to get back to net zero emissions, which means you can't have any, you've got to take as much carbon dioxide out of the atmosphere as you're putting into it.
That's net zero emissions.
If we're focused on carbon dioxide, it's focusing on the wrong thing.
Carbon dioxide's insignificant in terms of climate science.
The big impacts, as I show in this book, in climate science are the oceans, clouds, the amount of water vapor in the atmosphere.
When we have actual changes and shifts of paradigm, when the dinosaurs all died 65 million years ago, It was a catastrophe.
We had a giant asteroid hit the Earth that sent tsunamis all the way up to North Dakota.
Of course, North Dakota didn't exist 75 million years ago, but I'm saying in that much of Earth.
And what we're seeing here is the exaggeration.
This could only occur with a public that has not been educated on climate science or on economics.
And I'm finding increasingly that that's the difficulty, that the government can lie because people are not educating themselves.
Chris, do you want to comment on this so much so far?
I mean, my producer, Chris... Actually, I do.
And you're talking about Janet Yellen.
I found, while you were talking, I was pulling up a piece that... I create shorts for another outlet.
I wanted to pull up a piece that I found a few... Was it February 9th?
Janet Yellen.
Well, let's put it this way.
She was talking to the Center for Strategic Studies and... It has.
Yeah, and Strategic... I'm sorry.
I will get that for you right now.
The actual group... Yeah, go ahead.
The actual group was the Center for Strategic and International Studies.
Yeah, that's different.
That's the group.
Yeah, you mentioned it.
That's the correct name.
Right, right.
It's a think tank in Washington.
Exactly.
What she was saying, though, not only was she calling on the US to combat climate change, she was calling on the World Bank to do so.
Let me play that for you.
Yeah, go ahead.
Let's play that clip.
That sounds good.
It's a good idea.
This is back from February 9th, but this is pretty much what she does and what she's been doing secretly without the press around the world and, of course, in front of the spotlight as well.
Last fall, I issued an urgent call ahead of the World Bank and IMF annual meetings for the evolution of the multilateral development bank system.
My reasoning was simple.
The world has changed, and we need these vital institutions to change along with it.
In today's world, it's important that the MDBs make progress on their core mission of poverty reduction and inclusive economic growth.
But it's also important that they take decisive action on global challenges like climate change, pandemics, and conflict and fragility.
Oh, there you go.
Janet Yellen saying, no, let's not worry about economics and world inflation.
Let's worry about climate change.
And inclusion and diversity.
Last fall, I issued an urgent call.
I mean, she's supposed to be in charge of the Treasury.
Right.
Now, how about the trillions of dollars of Treasury debt the banks are holding because the Federal Reserve told banks that these were safe.
And they have such low interest rates to them, these treasury bonds, that they have to be held as assets at deep discount, which means that the banks, pretty universally, that hold these bonds, which is about every bank, unless they're giant banks and can hedge the risk, they're going to have to mark their Bonds to market, which means what's this bond really worth today?
And a bond that should be worth, they projected to be worth over a dollar, is now worth about 75 cents.
Well, that hurts their asset portfolio in the banks.
The bank's asset portfolio deteriorates.
The bank is insolvent.
It's bankrupt because the treasury bonds are there.
And this is the thing that can cascade through the economy that Janet Yellen ought to be worried about.
The problem is, she doesn't like to explain that to anybody.
It puts her work and her administration, or the administration that employs her, in a bad light.
What puts them in a good light is to say, hey, let's fight climate change.
Let's be inclusive.
You remember back in 2000 and I'd say 2007, 2008 and 2004, Republicans were accused of using
September 11th as a fear-mongering strategy. Oh yes. To get people to vote for them. This is,
climate change is what the Democrats use for their brand of fear-mongering.
This is not- Well, it- This is a 50-year indoctrination, by the way.
It's more than that, actually.
I think it's been going on for a long time.
Malthusians have been around for hundreds of years.
Go back to the Irish in the 1700s.
Let's go to the next story here about coal.
Go back to the Irish in 1700s.
Let's go to the next story here about coal.
I mean, now, okay, so here's Janet Yellen, and she won't do a thing about China,
because China's just about bought every politician of a significance in the United States,
including Mitch McConnell.
I got in trouble at the Heritage Foundation when I talked about my book, and they didn't like me saying that Uh, his wife's Chinese is influenced by the Chinese, which influences Mitch McConnell's supposedly Republican policies.
But anyone who knows anything about how China operates knows that his wife's family would not be around today with their 300 or whatever it is, millions of dollars, if Mitch McConnell didn't agree to take China into consideration when forming U.S.
national policy.
Now, the next story I want to cover here is that China is having a coal boom.
China is using coal wildly.
They have developed 38% increase in their coal capacity in 2022.
And China always gets positioned by the Biden administration, oh, China's going to have net zero emissions.
Well, China's going to have net zero emissions when hell freezes over.
They're never going to do it.
China is on a mad rush to use coal.
China even has Fischer-Tropsch plants.
Fischer-Tropsch plants were the, they show in my book, the equations that Germans developed in the Weimar Republic, which shows how oil is synthesized.
They can make oil.
They can make synthetic oil.
The Nazis did it in World War II.
I've written extensively about that.
It's not fossil fuel.
It's not dinosaur soup you're looking at.
And China is going to use all the coal they can get, because China has got problems itself internally.
Its economy has slowed down.
China's got a huge population, which they suppress.
And at any time, they could revolt.
Now they're going to revolt.
They get a cold winter and they can't be warm.
They freeze to death.
You know, Stalin, the communists love to do this.
Stalin in the collectivization right in the 1930s starved the Ukrainian.
He basically said the Ukrainians were all supposed to go into collective farms.
Well, the Ukrainians, he took their food away.
Millions died.
That's communism.
It's gonna happen here again with coal and Janet Yellen.
Why are we, so our banks are gonna worry about climate change when China doesn't give a hoot about climate change, and China's doing all the emissions for the whole world, so we're achieving nothing, as long as China's not restrained.
And by the way, I don't see any problem with China using coal.
It's a natural product of the earth.
We're in a global warming period now because it's an interglacial warming period.
Our orbit around the sun is at its most circular.
It will get more elliptical like an egg and we will have another ice age.
Maybe not immediately, probably another 10 or 20,000 years, but it's gonna happen.
And China's gonna use all the coal it can get.
And so are other countries like India, Turkey, Indonesia.
And China is going to be one of the major importers of coal.
They're gonna manufacture gasoline and other hydrocarbon products, fuels, diesel fuel, aviation fuel out of coal.
And China couldn't care, and they're gonna lie.
They're gonna say, well, yeah, sure, we're gonna be net zero emissions by 2050.
And if we don't make that, we'll make it 2060.
Because it doesn't make any difference.
The real scientists know, the legitimate climate scientists know, that carbon dioxide is not the thermostat of the Earth.
We've had much, we've had, Much colder periods of time when there's been much more carbon dioxide and ice ages.
Again, it's the sun heats the earth.
When the earth is farther from the sun in an elliptical orbit, which it happens every 10 or 20,000 years or 100,000 years on these Milankovitch cycles, which is how the earth goes around the sun, then we get a global cooling period.
It has nothing to do with carbon dioxide.
Okay, now the next article, what's happening In the United States going through this, we're worried about diversity, we're worried about all these different issues, net zero emissions.
In the meantime, Saudi Arabia and China and Russia are getting very close together.
Under Trump, we had the various Arab countries uniting against Iran.
Who is the leader exporting a border of terror.
They're making nuclear weapons.
They have vowed to destroy the United States and to destroy Israel.
China has announced that it's going to have a massive military and it's going to replace the United States as the dominant international power, which we've been since the end of World War II.
We've maintained relative peace.
I mean, human beings can't, it seems, live without war.
We can't live without war, and we can't live without evil.
So, the Saudis here have decided to join this Shanghai Cooperation Organization.
Shanghai Cooperation Organization, which is China, and Russia is very closely allied with it, has a sphere of influence, a trading influence, Which is extending now into the Arab world.
And the SCO, the Shanghai Cooperation Organization, is the world's largest regional political, economic, and defense organization in terms of geography and population.
It covers 60% of the Eurasian continent, which is by far the largest single landmass on Earth.
40% of the world's population, and more than 20% of the world's gross domestic product, GDP.
Formed in 2001 on the foundation of the Shanghai Five, set up in 1996 by Russia, China, and three former USSR states, Kazakhstan, Kyrgyzstan, and Tajikistan.
All these stan countries, stan means basically land of, The people of.
The Kazakhstans are the land of or the people of the Kazakhs.
There are many of these different little countries, which are fairly tribal based, all through Eurasia, through the part of the former Soviet Union that is Near Iran, Iraq, Turkey, etc., in the globe.
Most people know nothing about the SCO or the—I mean, Chris, it's astounding to me, but generally people know nothing about this, right?
That's true.
Not a lot of people know what's going on as far as this is concerned, too.
But people just don't pay attention all the time.
And even very smart people who were kind of hoping, hey, about four or five years ago when Trump was president, people were looking at the headlines and saying, wow, looks like U.S., Israel, and the Arab nations are getting along a little bit better.
This is great.
What they're not noticing is what's going on right now.
We can always say the opposite of Trump's Abraham Accords is the Biden discords, if you will, in the Middle East.
Yeah, well, look at this next article.
I mean, we've now got Saudi Arabia at China's urging getting closer to Iran.
Now, again, Iran's the leading exporter of terror.
Iran has been very, very involved in Syria.
Iran is now supplying drones to Russia.
In the Ukraine war, Iran is testing out its weaponry in Ukraine.
China has now agreed to do the same with Russia in Ukraine.
Now, Saudi Arabia and Iran just agreed, I guess this was yesterday, to restore flights, commercial air flights between their two countries and to resume government and private sector visits, which means their two economies are gonna get closer together.
This comes two weeks after the governments, Saudi Arabia and Iran, agreed to re-establish diplomatic relations in a deal that was brokered by China, which ended seven years of estrangement, and it jolts the politics of this oil-rich region.
In other words, as soon as you get the Saudis again back in league with Iran, this is a radicalization move.
Uh, it's a move which will support the rise of more terrorism out of the Middle East.
It's what has been attempted to be suppressed.
Uh, George W. Bush and Trump basically were aiming to stop Middle Eastern terrorism.
Uh, now what we've got is we don't seem to care anymore.
We left Iraq and we left all this military equipment there, which everybody seems to forget.
The U.S.
Army is in desperate need to try to recruit new people to come join it.
China is making massive advances in developing one of the most technologically sophisticated armies in the world.
Now they're still China's relatively small in terms of its economy or its military, but it's growing rapidly.
And it's growing rapidly at a time when the United States is going in the other direction.
That's really the problem.
And the United States, as we pointed out in various of these broadcasts, have financially lost a lot of ground.
We're also losing ground geopolitically.
So the dollar's under pressure.
We're finding China is making agreements all around the world economically.
China's grabbing all the coal it can get.
Doesn't worry about net zero emissions.
China couldn't care less about, you know, destroying capitalism.
They're already communists.
They already have totalitarian control, which is essentially what communism is about.
It comes in preaching that they're going to have justice for all, and it ends up killing millions of people.
I recommend people get the Little Black Book of Communism, which was a big book in the 1990s in Europe, which detailed the millions, hundreds of millions, that have been killed under communism worldwide in this failed endeavor to find utopia on Earth.
I think it's basically satanic.
And I've thought that from the beginning.
This is a dark move.
Chris, if you show my second book, if you would.
These are a trilogy I'm writing.
And I'm doing a lot more writing today and trying to really get the word out on these.
We show the second book.
First book was climate change, truth about climate change, global warming.
etc.
The second book, which is on the home page, if you take a look, we've got a new tab up at the top which says Books, and the new book is going to be The Truth About Neo-Marxism, Cultural Maoism, and Anarchy, and that book is written.
It's going to be in print probably later this year, and it's exposing these woke Um, insanities in an age of disinformation.
So basically we're, we're going to look at the whole development of this critical theory, which is a form of Marxism that has taken over the universities, et cetera.
And, uh, it's a book on political philosophy.
I'm tracing the truth about science, uh, is in this book as well, because my first book on global warming showed how the climate science Has been distorted by the left.
It's not a fact-based or science-based proposition.
The carbon dioxide is going to kill us all.
As I say, exhale it.
If they're talking about carbon monoxide, they might have a case.
But hydrocarbon fuels being burned do not emit carbon monoxide.
The second book is more on the political philosophy.
How do we get this whole change in Marxism and Maoism in order to have a cultural war, which is architected to essentially create a new critical theory reality.
And that's what we're exposing, controlling our institutions today.
So it's a, these books are challenging and they have a little harder to read, a lot more science.
A lot more political philosophy in them.
But I think if you really want to understand what's going on, it's time to pay attention and to really get into it.
Now, I want to end by mentioning, again, our sponsors, which keep this program going.
Chris, if you'll show those, we have My Vital C. I've written a book on this, we'll be introducing it pretty soon, with Chris Burrys, who's the founder of My Vital C, co-founder.
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In the comments, a number of people said, you know, People are not even able to know whether an advisor is good or not because they're losing their ability to evaluate.
They don't have the information on finance.
Well, again, there are experts and there are people who pose as experts.
Swiss America I've worked with since 2004.
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I think precious metals, especially in an era of fiat currency, when I foresee we're going to have an economic crash, Uh, are important to own and whether you're have a lot of money or don't having some precious metals in your portfolio, owning some is a good idea.
Uh, they preserve value.
When you, if you take a look at the dollar, it's lost about 99% of its purchasing power since 1971, when Richard Nixon took us off the gold standard.
Precious metals have increased in value and will continue to.
They could double in the economic crisis I think we're going into.
So, we've run a couple minutes over today, but I think we've covered some important ground.
Thank you for joining us.
We'll be back every weekday.
We'll be back again tomorrow and Friday.
I always end by saying, in the end, God always wins.
God will win here, too.
I foresee difficulties and what in the end means this time around, but I'm going to do my best now to return, to be active, and try to educate people as to the deeper nature of what we're seeing in our politics and our economics.
