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Oct. 21, 2022 - Ron Paul Liberty Report
24:07
U.S. States Wage War Against The ESG Scam

More and more people are realizing the absurdity of "getting rid of fossil fuels," and don't find the idea of "eating the bugs" as appetizing. We work to bring home the bacon, not the insects. The ideas of "woke capitalism" and "climate finance" are crushing our standard of living and many U.S. states are now fighting back against it.

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Welcome To Gold Insights 00:02:46
Hello everybody and thank you for tuning in to the Liberty Report.
With us today is Chris Rossini, our co-host.
Chris, welcome to the program.
Great to be with you, Dr. Paul.
Very good.
And we have a subject that I've talked about in the past because even about a year or two ago I found some stuff on Fink, Larry Fink, who runs BlackRock, and all the shenanigans going on.
And they're in the news today, and we want to talk about that.
What kind of news, good news or bad news.
But before I go into that, I want to remind all our viewers that we are partners with Birch Gold Group.
And it's a group that supports us in what we do, and we're very pleased.
And if you want to get more information from them, there's a text number at the bottom of this page.
You can text this number, and they'll send you materials, help you get started if you're looking for information.
And that material would come to you, but there's no cost to it.
So you can't go wrong with that.
So anyway, I think if you have full knowledge and you trade and been in gold for a long time, I still think it's a welcome thing to get as many opinions as possible because that's what I do.
And I've been looking at gold before we were even allowed to own it.
Way, way back in the 1960s, when we knew gold would once again be legal because it's the real money.
So it is very valuable to have people to go to and get information.
So if you're interested in following up a little bit and getting more information from Birch Gold, take a look at that number down at the bottom and text that number and they will send you a package giving you some information about what their responsibilities are and what they do in the gold market.
And Chris, I want to, of course, welcome you again to the program because we're going to talk about something that when it goes haywire, the system that we're going to talk about, when it goes haywire, believe me, we think gold is important.
I've been watching gold since it was $35 an ounce.
I think it's important.
But the subject we're going to be talking about now, the amount of money that's being spent on ESG, is going to one day make gold soar to a huge amount.
But that day is unknown.
I don't know the day, but I'll tell you what, the predictions of Austrian economists over the years has been correct.
Even in the 60s when you weren't even allowed to own gold and the world was dependent on gold at $35 an ounce, but people were saying, can't last, can't last.
Manipulating ESG Markets 00:14:12
And until we just about went totally broke, once we were about 90% broke, we said, oh, we better hold on to a little bit of that gold.
So it's been around for a long time.
There's a record about gold.
And I'll tell you what, what we're doing now is historic.
And what I mean by that is that what we, our government, is doing to the value of the dollar, the printing of the money, the expansion of credit, the manipulation of what's going on, the interference with economic planning.
This whole issue today of ESG, having a company that is now the biggest company in the world for managing funds, and that's BlackRock and Larry Fink, they manage $10 trillion.
That's almost like a government itself.
And they really believe in social manipulation through the financial system.
And guess what?
You got to be careful.
They do it all in the name of capitalism.
They're good capitalists.
You know, it reminds me of Nancy Pelosi when she got caught and her family got caught buying and selling stock and things that you can go to jail for.
But they did that.
And she, when she was caught, they asked her about it.
She said, well, I believe in the free market.
And, you know, I think they think that, and they say, well, this is a little bit of a stretch, but we're pretty good liars.
We'll go ahead with that story.
And of course, some people end up in jail for doing little things like that.
But I predict Nancy Pelosi is pretty safe.
They're going to keep it free.
But maybe someday there'll be catch up on this because you can't cheat, lie, and steal forever.
Eventually the people wake up, and they did that with COVID.
And right now, they're waking up in the financial markets, and that's why there's so much chaos.
And right now, this whole idea of somebody manipulating ESG for social reasons, which in this case is claiming that they can invest the money in the corporations who are pure on the environmental standards of social manipulation and also governance, the government itself.
Actually, it's just really a front for a very, very bad system.
So, Chris, give us your take on this.
No, you got it, Dr. Paul.
This ESG is a mixture of the woke political agenda mixed with climate finance.
And it's all geared towards this net zero, this absurdity of getting rid of fossil fuels.
But, you know, people do absurd things.
That's part of life.
And you have these companies that are now rated with ESG scores.
You know, and this score, this social credit score, shows how woke they are and how green they are.
You know, have you noticed you're seeing more and more products?
They tell you how much recycled material is in it.
All right, whatever.
I don't buy things based on that or not buy things based on that.
It's information.
It's like telling me that half the people that made the product were over five foot tall.
All right, whatever.
How much is it?
So they try to virtue signal, basically.
Now, why would companies do this?
Obviously, normally they would not do this nonsense.
Well, there's the financial side, and Dr. Paul mentioned BlackRock, and you have Vanguard.
And these, they've managed trillions of dollars.
If you look at the top shareholders in this SP 500, I think 90%, the top shareholders are BlackRock and SP, or not SP, Vanguard.
So they have a financial leash on these companies.
Do what we say, or how would you like your stock to go down?
Whether or not that is said, who knows?
But that's why you have these corporations all walking together doing all these crazy things.
And people are wondering, how is this possible that all these corporations are doing this?
This is how it's possible.
So as Dr. Paul pointed out, states are finally pushing back.
The people have had enough.
The states are pulling out their pension funds from BlackRock.
There's 19 Republican states that are investigating this whole scheme.
And this is all very good news.
We're happy to report on it.
The Fed is involved in this too.
The corporations are involved and all the social plannings are involved.
But when we have a crisis like the COVID non-crisis or another war and a lot of bailing out and it's to the tune of trillions of dollars and we have never been able to achieve a true audit of the Fed.
But it is my belief and evidence is available for people who have studied this that BlackRock is a close friend of the Fed and that they have responsibility when the money has to be passed out.
What better company can you ask that's involved with $10 trillion worth of corporate securities to manipulate and put pressure?
And the other thing that they do is they work behind the scenes at getting the directors thrown out if they happen to disagree with this policy of investing, not because of good investment, but because of this radical wokeism.
So this is something that, you know, it is becoming evident and it's also one that is very dangerous.
And what I see is the bubble keeps getting bigger and bigger.
And when it bursts, it might astound people how big it really is.
But I want to read a comment that Fink made in his letter as CEO of his letter this year, 2022.
He said that capitalism has the power to shape society and act as a powerful catalyst to change.
And when we harness, now this is the catchphrase, and when we harness the power of both the public and private sectors, we can achieve incredible things.
This is what we must do to get to zero.
Well, sounds good to me.
That means zero intrusion in our personal liberties and zero intrusion in designing fiat currency.
Oh, no, that's zero means there's going to be no more CO2.
What are we going to do with all this CO2 that we breathe out every single day?
They've already admitted they want to kill all the cows, but they want to get to zero.
But this is this harnessing of the public and the private.
That's the giveaway.
This is corporatism at its worst.
It lends itself to fascism and socialist ideas.
And it's something that's been under the radar.
So we have to compliment these states that have spoken out.
Missouri was announced just yesterday.
Louisiana, Utah, and Arkansas have spoken.
But there's a significant amount into the tens of millions of dollars, but $10 trillion is a lot of money.
So he still has a lot of clout and a lot of defiance too.
So this is going to continue.
Unfortunately, it could end if enough people wake up, just like it's really hindered the woke people when the people woke up and found out that it was all a fraud on COVID.
But that's not finished yet.
They're still trying to force vaccinations of little kids and that whole thing.
So this is a thing that's going to be ongoing, but eventually it will end just as the big bubble will end because this is not durable.
Because, you know, the natural consequences of a Federal Reserve board and a system that arbitrarily does economic planning through the manipulation of interest.
Pump out the money, lower the interest rates, and people say, oh, we have a healthy economy.
People are working hard.
They're saving their money.
That's why interest rates, that's why interest rates have gone down.
So I'm going to start borrowing.
Well, we know that doesn't happen anymore.
So it's an illusion.
This is an illusion too, because they think that this money is going into these corporations and they're going to do good.
And just like Pelosi, Fink says it's in the name of free markets and capitalism.
What a force it is.
But it will end.
And that is why we do keep talking about gold and mentioning our friends at Birch Gold, because I think knowledge of gold is very important.
You say, well, yeah, you were saying this a year ago, and gold has done not much.
And I say, well, I'm sort of a long-term person.
I started looking at this when it was $35 now.
So long term, I think we're back at 35 or back at an equivalent of 35, except we're at $1,600.
But it's going to go wild.
And it's part of this illusion, deceit, fraud, a big government collecting big government with our big corporations.
And this is the only way we can combat this is with more knowledge.
It's going to be a tragedy.
And I am right now pessimistic that we're going to have the collapse before we come to our senses.
If we came to our senses, we could deal with it.
That'd be a bit of a problem for a year.
But what we're doing, there's going to be a bit of a problem for decades because they're just going to paper everything.
People will be happy.
Just send them money.
They say they don't have enough money to pay the bills.
Well, if you understand the monetary system, precisely, it's the excesses amount of money and the lower interest rates which has caused so much of our problems.
Very good, Dr. Paul.
And you are, I believe you're correct.
This ESG is going to crash and burn someday because, you know, simple malinvestment, you know, for those who understand Austrian business cycle theory.
But it's really just a battle against freedom, free markets, which we surely do not have.
This ESG is, it's almost like Soviet-style planning with the outward appearance of markets.
And, you know, a reason why the intelligentsia and people, they hate the markets is because it's very hard.
It's hard to succeed.
You know, you have to spend enormous amounts of money in market research because the consumer is the king.
The consumer says, yes, I will buy or no, I will not buy.
And you've got to find out what they want and speculate as to what they want.
And it's got to be profitable.
You have to risk your money and your capital.
And if you're right and consumers do want what you're selling, you'll be successful.
But if you're not right, you're going to lose your money and capital.
And people hate that.
So this ESG is an attempt to avoid all of this.
Who cares what consumers want?
You're going to buy what we say you're going to buy.
You're going to eat what we say you're going to eat.
And Dr. Paul mentioned they want to get rid of cows and give us, you know, go look at the stock chart of beyond meat.
People don't want it, you know?
And now they're trying to put insects, insects.
You know, some kids in some other countries, they're serving them in the school lunches.
This is how insane it is.
Now, can there be a niche market for beyond meat or insects?
Perhaps.
But they want to force this on everyone in the planet.
And that's how big their egos have gotten with this funny money that they're playing with.
So they're trying to force it on everyone.
It's an incredible waste of resources.
And what happens to wasteful resources?
They have to be liquidated someday.
And that's why Dr. Paul is right.
It's going to crash and burn.
You know, we often mention the Depression 19, 2021.
It was very, very bad.
I think GDP went down about 15% a year.
But it was still hands-off.
They still believed that the monetary system was corrupted.
They spent too much, printed too much money, and you had to get rid of all the mistakes.
And they just had hands off in a year.
It was over.
Painful, but it was over.
And in the Depression, of course, they didn't believe in that.
It's too much suffering.
You can't do it.
And we're politicians.
We have to look like we're busy doing something.
So they did.
They got busy, and the darn thing lasted, you know, for really for 15 years.
But you're talking about doing silly things.
We read about them already now in this environmental stuff.
But back then, they believed that if the farmers were going broke, there was deflation back then.
The adjustment was just way out of sync because they weren't allowing the market to work.
So they said, well, the farmers are having trouble.
We have to help them out.
And they say, well, we don't want to just send them a check, which they did anyway.
But what we need to do is get people to get people to get more money, make more money.
Let's raise prices on farm.
People out there starving in the streets.
So they said, we have to, you know, no, no, we want to get rid of the prop.
We want to get rid of the crop.
Too many crops, and that's why the prices were down.
It was crazy.
So they had one of those strict rules you could get into big trouble during the Depression was what you have to do is plow your crops under.
So the government would go out and check, oh, you have 25 acres of corn and you're only allowed to have 15.
Plow them under when people were starving in the streets.
We're not doing much better now with all this nonsense going on.
So it's this interventionism that is the real problem.
We start with it and we don't want to give up with it.
There's too much power.
The wealth is at the hands of the few.
Price Controls and Starvation 00:06:44
And the big picture that I don't like about that, everything is based on lies and fibs and propaganda, which is ordinary.
But then it explodes once these people get into trouble, either with wokeism on COVID or when they get involved with the environmental things.
They keep lying to themselves and lying to us because that becomes the whole system.
Everybody becomes nihilistic.
Well, we can't defend that because you can't know.
You can't tell such a thing as lying.
Lying is impossible to prove one way or other.
And good economics, you mean commodity money is bad because you can't prove it's bad.
You can't know the truth.
Well, that kind of stuff goes on.
But I tell you what, I think looking for the truth and working for the truth and obeying the truth in a financial sense and in a civil liberty sense, and also in a foreign policy sense, would go a long way to solving a lot of our problems.
Chris?
Excellent, Dr. Paul.
I'll finish up kind of reiterating something I said a few weeks ago.
You know, we live in a world with these big, huge power centers.
It's not just one big blob.
And they work with one another when it works to their advantage.
But once one of their turfs are threatened, they will fight each other.
And that's, you know, we live in a world of gang warfare.
These governments are so big and corporations are so big.
And unfortunately, we, the people, are caught in the middle.
And we have to somehow navigate our way through, which is why, you know, our founders were right and why we push, you want small localized governments.
Because when conflict occurs and conflict will occur, you know, it's limited in the amount of damage and the number of people that are harmed when they fight one another.
But we have big, huge, multinational, you know, power centers, and we all get wrapped up in their turf wars.
You know, and ESG is, you know, it may not be as inevitable as they say it is.
And I credit our friend Tom Luongo, who we had on the show a while ago, and he spoke at one of our conferences recently.
He's been pointing out that this ESG, there's power centers within that that don't seem to be on board.
One of them is J.P. Morgan CEO, Jamie Dimon.
And those who are familiar with the history of the Fed and the financial system know how important J.P. Morgan is.
They're a huge part of the Fed.
And he has been saying recently, absolutely not with this not investing in fossil fuels.
He said that would be the road to hell for America.
And he said we are getting energy completely wrong.
And just this month, he said specifically on ESG that investors don't give a blank.
You know, he used the word there that I won't say here.
He goes, we're not going to cede governance to do-gooder kids on a committee.
So you can see that, you know, just within this ESG camp, there's not a unity of thought.
And this is important because think back to COVID.
All you need is one person like Iran DeSantis, and he could throw the whole thing out of whack, like the lockdowns and the max.
One courageous man totally destroyed the narrative for the rest of the country.
So, you know, if they just have infighting within this ESG, that alone can help to take it down.
Our job, again, is to survive, to try to understand this the best that we can and keep pushing for smaller power centers and more individual liberty.
Chris, very good.
And, you know, I've described what I think is happening and things that why things are worse, because the business cycle manipulated by the Federal Reserve has been around for a good while throughout history, but especially in our country since 1913.
And that's pretty well understood, but there are too many other factors attached onto it.
So when there was the inflation in the 70s and 80s, and the housing bubble was, there was a malinvestment because of low interest rates, but the housing bubble was accelerated by, you know, Congress putting more money into it.
And that's what I see happening now.
We have the miss dealing with the Fed, but then we have all this wokeism, environmentalism, and the things that are going on now and BlackRock, and that adds to it.
So there's a lot of mistakes out there that have to be corrected.
So the malinvestment is nothing more than mistakes that you can't live with.
But Chris is absolutely right.
There are seeds planted out there.
Already we have talked a whole lot about what's going on with COVID, how the parents and the people finally had enough, and they would just stand up to them and combat them.
But there's still a lot of ways to go on this because you can't work with this burden of debt.
Right now, the government's going to be facing this.
They lie about what they're really doing with the monetary policy because it's so unique.
But the government will have to do it.
You read now today about central banks going broke.
Well, how can a central bank go broke?
Well, that's when the people reject using the money, and that will happen to us.
The liquidation of debt has to come, and that is what will get us back.
But that is already recognized with COVID.
The resistance has built.
But I think now what we're talking about is a pretty new resistance, and that's resisting this whole radicalism on allowing the corporatists, the people who pretend they're capitalists, to take money with misappropriations and have support from the government and spending it and investing and convincing people, boy, yes, if you don't have the rubber stamp of approval of the ESG,
we don't even want you to invest in that country.
That's why a lot of public-held funds have gone in there for political pressure.
That is breaking.
I think that's the best thing we can say about this past week or two is it's starting to break.
People are sick and tired of it, and they're catching on to it.
So that's the good news of this because eventually all the lie and cheating and stealing and ti-at money printing, it always comes to an end.
What we would like to do is have it come back, come to an end quickly, smoothly as possible, do it without an encroachment on our personal liberties, and let the people go back to work, trust the people to do that they know what to do, which would be the best for themselves and for their family.
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