April 26, 2023 - The Truth Central - Dr. Jerome Corsi
34:56
BRICS Buying Gold and More Nations Want In While West Worries About Climate Change
Gold is a hot commodity now and the BRICS nations are capitalizing, buying it at a record pace this year. Meantime, 19 other nations are applying to become part of this new emerging trading group, which may eventually prove more powerful than the G7. While all this is happening, what is the West doing? It's concern over climate change fanaticism without heeding the world economic situation could lead to its decreasing in financial power. Dr. Jerome Corsi examines the situation on The Truth CentralVisit Dr. Corsi's The Truth Central website: https://www.TheTruthCentral.com'Follow Dr. Corsi on Twitter: @corsijerome1MyVitalC: https://www.thetruthcentral.com/myvitalc-ess60-in-organic-olive-oil/Swiss America: https://www.swissamerica.com/offer/CorsiRMP.phpPro Rapid Review: https://prorrt.com/thetruthcentralmembers/elBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-truth-central-with-dr-jerome-corsi--5810661/support.
This is Jerome Corsey, and today is Wednesday, April 26, 2023.
We're here at the TruthCentral.com.
And I want to get right into the stories today.
We've got quite a lot to cover.
First of all, I have an article up on American Thinker right now.
It's americanthinker.com.
And what the article is about is that the SEC is going to impose these really ideologically driven, extremely costly climate regulations on U.S.
corporations.
Now, essentially what's happening is the SEC, which is also fighting cryptocurrency, This is Gary Gensler, who's head of it, has decided that corporations need to file with the SEC a statement of their impact on carbon dioxide emissions.
Now it's quite complex because they actually have a kind of a three category system of what carbon dioxide emissions are.
Number one, it's what you emit as your company, you know, the building, the activities, et cetera.
But it goes all the way down to, even if you use somebody else's products, for instance, let's say in a supply chain, Then you have to take into account their carbon dioxide emissions for producing what you are using from them.
As crazy as that sounds.
Now, what it means is it's going to cost corporations millions of dollars with these rule changes.
And they come from the international agencies.
Ultimately, you trace it back and it goes right back to the EU.
A whole series of different panels and groups, climate groups, and they have just decided that it's a fact of global warming.
You can't argue that fact.
And since it's a fact, they can impose all these regulations on corporations to, you know, scope one, scope two, scope three emissions.
Scope one emissions are the greenhouse gas emissions a company makes directly, for example, while running its boilers and vehicles.
Scope two emissions, company makes indirectly, like when the electricity or energy it buys for
heating and cooling buildings is being produced on its behalf. And scope three, greenhouse gas
emissions, not associated with the company itself, but from organizations and its value train.
For example, buying products from suppliers and consumers use those products.
We've got to take into account what the emissions were to make the products that you're using in your supply chain or your value chain.
Now, again, these are very, very comprehensive regulations.
And they're all predicated on the fact that we've got to reduce Earth's temperature 1.5 degrees above Celsius, above pre-industrial levels.
We've got to get to that between 2030 and 2050 or else we're going to have a climate catastrophe.
What's happening here is that under the Biden administration, the government is legislating through the bureaucracy.
The bureaucracy is making rules.
The bureaucracy are packed with these neo-Marxists who are absolutely convinced, and you can't argue with them, about global warming.
And, you know, I'm saying, and I've said for years, that the premises, the scientific premises, of global warming just aren't valid.
Carbon dioxide is not a noxious chemical and in fact we're in an interglacial warming period.
We've had much higher levels of carbon dioxide on earth in ice ages.
The earth is a very changing place and a little bit more carbon dioxide is not going to kill us all but yet that's the fear here and it's a It is not a fact-based or science-based concern because legitimate climate scientists understand that the Earth's temperature is extremely complex.
It's non-linear.
It's not predictable.
You can't predict the weather tomorrow.
Can't tell us what is going to rain this afternoon.
I mean, yet they're going to say that if we don't reduce the Earth's temperature to basically pre-industrial levels, that's the whole point.
This whole climate movement is anti-capitalism.
And if you'll read the article today that I've written in American Thinker, it's mind-boggling how many Intergovernmental, world NGOs, commissions, panels, groups that have self-appointed themselves as experts, have decided that we're going to re-engineer the entire society in order to achieve their goal of having less carbon dioxide emitted in the atmosphere.
Carbon dioxide is, the trees love it, and the earth is greener right now because we have carbon dioxide in the atmosphere, and we wouldn't do particularly well without it.
All right, let's get, I want to cover quite a few stories today.
Another one that astounded me is this story about the EU leaders.
There's nine countries now, and they're France, Germany, Ireland, Denmark, Netherlands, Luxembourg, Britain, and Norway.
So it's all Germany, and basically Great Britain, together with Denmark, Netherlands, Luxembourg, and Norway, which are all these northern countries in Europe, they want to build a gigantic wind farm in the North Sea.
Now, some of these things are just preposterous.
I mean, I can hardly believe they're this crazy to do this type of thing.
Okay, so the collective goal is to boost offshore wind power To 120 gigawatts by 2030.
It's just 30 today.
So in, I guess, eight years, we're going to go four times what we have now and at least 300 gigawatts.
Well, how many wind turbines do you think it's going to take to generate that much electricity in the middle of the North Sea?
If you have so many wind turbines out there, it's gonna become not navigable for ships.
I mean, it's ridiculous.
They're gonna spend $900 billion doing this.
And it's because they're saying, well, we don't have the access to gas, natural gas from Russia.
Of course, because the European sanctions against Russia, Russia retaliated and said, you're not gonna get any more of our natural gas.
And President Trump had warned the EU that their dependence on Russian natural gas was dangerous.
They should really diversify their supplies.
They didn't.
Well, now they're saying, okay, they're shutting down, Germany's shutting down its nuclear power plants, and they're gonna do everything with wind and solar.
It just isn't gonna work.
Wind and solar are not sufficiently powerful.
They have to be stored in batteries.
I've been saying this again.
Please read the truth about energy, climate change, and global warming.
The problem is people are not educated on the science.
So these ideas, let's use wind and solar.
You know, the sun shines all the time, it doesn't.
Well, the wind blows, no, it doesn't blow all the time.
It's intermittent.
And when it doesn't blow, if you have studied ships before, you know, powered ships, just sail powered, the doldrums, you sat there.
Without wind, you're not gonna move.
That's the problem, is that the wind and sun Are not sufficiently powerful compared to hydrocarbon fuels, which are abundant and also abiotic, which means that they are not made from dinosaur or any biological material.
They're made naturally in the earth.
And again, if you'll take a look at that book, please study this a little bit, because otherwise these things sound on the surface reasonable.
The other story I want to cover in this vein is that General Motors is finally deciding that they're not going to produce the Chevy Bolt any longer.
Well, the problem with the Bolt was that the batteries caught fire.
GM had to recall 142,000 vehicles as a result of the battery fires.
And this is one statement that was put out by GM spokesperson Dan Flores.
is.
And he said, uh, the production of the Chevy Bolt EV and EUV will continue in this plant that they have until they're going to shift it over.
Uh, this is, uh, it to produce Silverado EVs and Sierra EV pickups.
They're going to produce pickups now.
The idea that they basically, in 2021, This GM spokesperson, Dan Flores, gave a statement about the batteries burning.
He said, in an effort to reduce potential damage to structures and nearby vehicles in the rare event of a potential fire, we recommend parking the bolt on the top floor or an open-air deck and 50 feet or more away from another vehicle.
Additionally, we suggest you do not leave your vehicle charging unattended, even if you are using a charging station in a parking deck.
Well, it sure makes me want to go out and get a bolt.
These are the problems with these electric vehicles, that they are, again, one of these ideas that the left produces.
You know, why don't they put a sail on a car and tell you to To move it along with wind power that way.
You can generate some electricity with solar, and you can generate some electricity with wind, but it's not enough to power a city without using an enormous amount of land, enormous amount of territory, and running into all kinds of technical problems.
Like having hydrocarbon backups for when the sun doesn't shine, the wind doesn't blow, or for peak usage.
Chris, you want to comment on this?
A fairytale without foresight, that's what I call it.
These activists, these people who are trying to push electric cars on us say it's going to be beautiful and clean, everybody's going to be happy.
But everything that happens along the way, the fact that these batteries are heavy and overly expensive, we're going to be depending on China most likely.
And whoever controls Afghanistan and African nations for rare earths to power these things, which weakens our country as well.
The grid's not ready, but it's still going to sound nice.
Now this.
And another thing about those wind turbines.
Patrick Moore, the co-founder of Greenpeace, has been talking about the idea that humpback whales have been dying because of the wind turbines along the Atlantic coast of the U.S.
Imagine what's going to happen in the North Sea.
You're destroying the environment.
Well, it's an insane idea, and it's a hoax and a delusion, and eventually people will wake up and realize it doesn't work.
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Thank you for saying that.
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Okay, let's get back to the news.
I'm also covering today a series of stories here on the BRIC nations.
Now, Most people don't know.
Oh, by the way, First Republic, I didn't post this, but it's lost 50% of its stock value.
I think it's going to be one of the first banks that the government just takes over.
They've had the bailout when Silicon Valley was also failing.
We're going to see a whole series of bank failures.
It's, I think, almost inevitable right now.
Okay, so let's go back to the Truth Central and pick up these two stories on the BRIC nations.
Now, the BRIC nations are Brazil, Russia, India, China, and South Africa.
And they're holding a summit meeting.
They hold these summit meetings periodically, I guess almost every year.
And what's happening is that there are 19 countries who want to join The BRIC coalition.
Now, what that means is, and this article says that the BRICs are becoming, they're surpassing the G7 nations in gross domestic product.
And if they get 19 other nations to join them, they're going to be one of the most powerful economic blocks in the world.
And these are essentially developing nations.
These are nations that are not worrying about Uh, carbon dioxide.
China's using more coal than any other nation on earth.
India is using coal and, and, uh, oil and natural gas.
These are countries that want to expand.
These countries want economic development and they're basically going to create a very, very strong, essentially anti-American coalition because they think America is self-destructing.
There's probably good evidence for that.
So they're talking about the expansion of the BRICS, and 13 countries have formally asked, 6 have asked informally to join the BRIC coalition.
And China is leading this.
China would like these countries to join.
By the way, they're also talking about creating a brick cryptocurrency.
They're going to most likely use XRP, which is Ripple, in international payments.
I think they're, again, well, our SEC, Gary Gensler, is attacking cryptocurrencies, wants to get rid of them.
is imposing on corporations regulations of massive reporting of their carbon emissions.
I think the Biden administration a lot wants to tax the air we breathe, which is what it's going to amount to.
Corporations are going to leave the United States.
They're going to go to, and Western Europe.
They're going to find that they're going to have a much more productive environment In a country that's open to capitalism.
And while China is not particularly open to capitalism, state-run businesses are what dominate in China.
You'll find the BRIC nations as a whole are going to offer much more opportunity for economic growth and development, while the United States seems to be determined to go on a backward slide.
Now, this next story, too, on the BRICS caught my attention, which is the BRIC nations are massively buying gold, and they're doing it to topple the dollar.
BRIC central banks have been setting a record Both quarter one and quarter two of 2023, it looks like they're going to be just purchasing massive.
They've added, India added 2.8 tons to its gold reserves in 2023, the first part of this year.
And India has now accumulated gold for several months and will continue probably to do so through the rest of the year.
This development puts the dollar on the back foot As gold could easily be used as collateral and not the US dollar.
In other words, they could begin doing gold-based crypto, they could be doing cryptocurrencies, they could be doing just using the gold as a value That would not the dollar.
They don't need the dollar any longer as a reserve currency, especially when the dollar has been so diluted.
We're now up to $30 trillion.
I saw an exchange with Janet Yellen at a Senate hearing and she looks to me like she's completely out of left field.
It looks like she should be retired.
And she was always answering their questions about, well, we trust the Biden administration plan.
I think we're on a solid ground here.
We had $33 trillion worth of debt.
How much debt's too much?
She wouldn't answer the question.
Well, the problem is we are in spending that has now for these payments for welfare and other benefits, Social Security, Medicare, which there's no real way to get rid of out of the federal government, are taking up an increasingly large percentage of the revenue and the spending of the federal government.
We basically are locked into programs which have no limit as to how much they could spend.
As the population ages and demands on both Social Security and Medicare increase, with fewer people working as a percentage of the population, we'll have fewer people supporting an increasingly large retirement group with regulations that are stifling Uh, for business to really prosper.
This is not a good condition set of conditions.
I think we're into for a, a massive downturn, which is could happen in any, any day more bank failures, commercial real estate failing.
I'm not sure what the trigger is going to be.
But there will be some trigger where finally the house of cards starts to collapse.
There's much debt even in the banking system.
We're holding treasury bonds that were issued when the treasury is keeping virtually zero interest rates for Obama.
Make sure he had economic growth and activity in his presidency.
Those bonds today have to be marked to market and they have to be deeply discounted, which means their asset value to the banks or institutions holding them is less.
That's a problem.
The banks have requirements, again regulations, to meet certain asset ratios to their liabilities.
When their assets depreciate, the banks are in a situation that threatens bankruptcy.
It's why These various banks like Republic, its stock is virtually going to be worthless pretty soon.
It's been deeply, deeply depreciated.
And the bank has so much debt now that I don't know how it's going to operate.
Banks operate in very, very thin margins.
So the bank is going to be struggling To pay off the debt it's got and to manage itself into profitability.
The Federal Reserve itself is holding trillions of dollars of U.S.
government debt.
And if the inflation continues, which I think it's going to, we're going to have to have higher interest rates.
We're going to have the Treasury issuing more bonds.
We're going to have the Federal Reserve buying more debt.
When you buy your own debt, You know, you can't live in credit cards forever.
Eventually, you run out of credit card usage.
It's not a productive, you know, if you start thinking, oh, look at how much money I have.
I've got all these credit cards.
That's debt.
It has to be repaid.
So, we are on a debt binge in the United States and in Western Europe, and we're in an inflationary period of time with stagnant economic growth.
So, again, our second sponsor, which is Swiss America.
Chris, if you'll show that.
Again, they have a very good offer.
Sponsors, and click it down, and you'll see in the sponsors that Swiss America has this Walking Liberty half dollar offer.
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The whole idea is to begin a relationship with Swiss America where you can get consultation and you can get advice, given your financial situation.
I'm not giving financial advice here.
I'm basically marketing one of the sponsors.
Swiss America can give excellent advice.
They're the experts on gold and silver.
But you'll get real gold and silver, tangible, that you can keep.
And people say, well, how do I sell it?
Well, there's always a market for gold and silver.
2,000 years, people have been using gold and silver as value.
And people have had it in times when paper currency is worthless, Find that they may be able to eat or live more comfortably and the value increases.
So the same amount of gold and silver that bought a house 20 years ago is gonna be the same amount of gold and silver that'll buy a house today.
The purchasing power of precious metals tends to increase.
When economies turn bad.
It's one of those counter-cyclical.
So that when we had the 2008-2009 credit crisis on subprime mortgages, that's when gold and silver basically doubled in value.
And it could do it again.
We're only at the very beginning of what I see as a very deep downturn.
Okay, now I want to cover one more story, and then I'd like to have Chris talk a little bit about the website.
I want to make sure people know what channels we're on.
We're beginning to expand.
We're on many different platforms.
I want Chris to point that out.
But I want to cover one more story first, and this has to do with the whole idea of what's going on in Ukraine.
Now, Ukraine is saying that they want to have a counter Offensive and the Ukrainian government is begging for money and weapons.
The counter offensive that they think will happen this now in the spring will gain back territory from Russia.
Now in these documents, it's being political reported this, that in the these classified documents that have been circulating, I guess they were stolen.
I mean, but the point is, The press can still pick them up and cover them.
We're covering a political story here.
This is basically mainstream media reporting.
The Biden administration doesn't think the offensive is going to work.
And I don't think so either.
I mean, I'm watching what this Bakhmut, the city that Russia has basically had 70,000 inhabitants when Russia started to attack it.
It's now just rubble.
It's uninhabitable.
There's people left.
And there, you know, there's still Ukraine, Ukrainian forces in there fighting, but the Russians are essentially going to take the city.
And, uh, Russia is not going to be dislodged.
Russia is constricting troops.
They have this Wagner group, which is paramilitary, uh, non-governmental military fighting with Russia.
That group is all through Africa.
It's a very powerful group.
Uh, we'll have to start covering it.
I don't think Americans know very much about the Wagner group.
But it is a very powerful military force within, in alignment with Russia.
And now as Russia, China, India, Iran get closer together, the United States and Western Europe are becoming isolated.
It's a very dangerous situation for the world.
And Western Europe has this war mentality where they're saying that, you know, we've got to essentially back Ukraine to beat Russia.
The best thing to do would be to negotiate with Russia.
Russia is going to have access to the Black Sea through Crimea, through Ukraine, and I don't think trying to deny Russia that access is going to be a productive strategy.
Russia needs to be able, a major power, I think we're basically, it's no longer just the United States as a superpower, we're now going to contend with also three superpowers, including China and Russia.
Now, we're the largest economy, but again, as we continue to have these internal problems caused by this delusional neo-Marxism, where we're basically clouded in pivot theory, which bankrupt New York and other socialist theory, that just spends so much, the government goes bankrupt.
And that's what we're basically doing.
We've done so many welfare programs and you can't cut them off once they're started.
You're not going to end Social Security or Medicare.
And we are now in a situation where we're not producing enough economic activity in order to sustain the economy without massive debts.
We have massive national debts accumulating.
The question to Janet Yellen was a very good one.
We've doubled the national debt.
The national debt when Obama took office was about $10 billion.
We're now at $30 billion.
Democrats and Republicans alike are spending.
De Tocqueville said it.
De Tocqueville, who wrote in the 1700s, toured America.
He was French and he basically wrote some very brilliant things saying that once politicians learn that they can spend the public treasury to hand things out free or give benefits to the people, it doesn't cost them anything as politicians, that's when the country will go broke.
De Tocqueville said some very prescient things. He was very foresighted in
understanding that, as Benjamin Franklin did, we have a republic if we can keep it.
It doesn't seem like we're doing a particularly good job at the moment of
keeping it. Chris, any comments?
And why don't you show the websites and places, do a little bit of the tour of the homepage of The Truth Central so people can know where to go and how to look at it, what facilities we've got on other channels where we're broadcasting.
Yes, we will.
And The Truth Central is still a work in progress, but we've come along pretty nicely.
As you can see, you can follow Dr. Corsi here on various social media, Twitter, Facebook, we're revamping the Facebook page and we're going to be moving your old Facebook page to something new.
So stand by for that.
You can also catch that here on the True Essentials website.
Hook up with Dr. Corsi on LinkedIn.
He has some really cool shorts on his YouTube channel and TikTok if you're of the younger set and like to play with that as well.
You can support us on Patreon.
That's right here with these social media links.
You can also find this podcast on several outlets.
Rumble if you're watching there or if you're not watching there, you can catch us there.
You can catch the podcast on YouTube.
As far as audio outlets, if you're driving around and you want to hear or you don't want to miss an episode of The Truth Central, you can find us on Apple Podcasts, iHeartRadio, Spotify, Spreaker, Amazon Music.
You can even tell your Alexa, hey, let's listen to, or Alexa, please play The Truth Central podcast.
That's great.
And tune in SoundCloud, Google Podcasts, GeoSong, and more.
If you'd like, just come to the website, The Truth Central, Click on the play button here where we have our latest podcast.
We also have all of the past ones here piled up on our website right here on the front page.
You can also find our sponsors here in the sponsor section.
That's ProRapid Review, My Vital C, and Swiss America Books.
Dr. Corsi's books will be here.
We have a full bookstore coming out.
And yes, soon you could pick up some nifty merch right here from the True Central.
Chris has done a very good job building this website, and I'm very pleased with it.
I think it's the best one I've had ever.
And we'll be continuing to add to it.
We're trying to cover a range of stories that are typically not given the attention in the news that they deserve.
And I follow economics, I follow cryptocurrency, politics of course, and there are many different subjects.
I'm writing in a wide range of subjects.
Our current book, which is The Truth About Energy, Global Warming, and Climate Change, I'll soon be having out.
It's in press right now.
You can find it on Amazon.
It's The Truth About Neo-Marxism, Cultural Maoism, and Anarchy, and I think you'll find that book is going to be a, it's going to be a large book, but it's one that will help you to understand the Political philosophy, the worldview of how this neo-Marxism has arisen, this critical theory.
I go very extensively back through the Frankfurt School.
I explain post-modernism.
You really can't understand where the left is unless you understand their political philosophy and their phenomenology, their worldview.
Which is fundamentally different.
They are living in a different world than we are.
And they have a completely different mental frame of reference.
So there's a disconnect in trying to talk with these people or comprehend them.
And I've written this book to try to bridge that gap.
Just like I wrote the first, this is going to be a trilogy.
Third book will be on transhumanism, where they're really going.
My first book on energy basically said that they are not fact-based.
They have a utopian vision of climate, and that's what they mean by climate consensus.
And their utopian vision has no hydrocarbon fuels.
It doesn't necessarily make any fact-based sense, but it's not constructed to.
The second book explains that, how this neo-Marxism and post-modernism allows the radical left coming out of universities to create their own reality.
That's this whole imagine, like John Lennon.
Let's just imagine it.
Well, you know, wishing and hoping doesn't make it so, unfortunately.
The earth is Created by God and has rules and you can't just make up your own rules as you go along.
It doesn't quite work that way.
Anyway, this is Jerome Corsi, Dr. Jerome Corsi, and thank you for joining us.
We're broadcasting this podcast every day.
I'm going to try to keep right on time as we end it now.
