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July 5, 2023 - X22 Report
19:10
Ep. 3109a - ESG Does Nothing For Environment, Recession Is The Nice Word For What Is Coming
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Hi and welcome.
You're listening to the X22 Report.
My name is Dave and this is episode 3109A and today's date is July 5th, 2023 and the title of the episode is ESG does nothing for environment.
Recession is the nice word for what is coming.
Let's talk about protecting our wealth.
The U.S. dollar has lost 85% of its value since the 70s when the dollar decoupled from gold.
And the government seems bent on continuing the tradition.
From now until after the next elections, the government can print as much money as they want.
The last time they did that, inflation went up 9%.
This means one thing.
The security of your future and your family's future is all in your hands.
Make sure you freeze the value of the wealth you are holding.
Invest in gold with Noble Gold Investments.
Gold is one asset that has proven to withstand recession, inflation, and just about all economic threats.
Noble Gold Investments is here to help you if you want to invest in gold.
You will also get a 24-carat, one-quarter ounce gold standard coin for free.
Go to x22gold.com.
That is x22gold.com.
Or click the link in the description.
And remember, there's always a risk of investment and there's no guarantee of any kind.
Let's get right into the economic collapse financial news.
Now the deep state, the corrupt politicians, the private was a central bank, the world economic forum.
What the people are starting to realize is that these people that have been pushing the Green New Deal, these people that have been pushing the Great Reset, These people have been telling everyone that, hey, the economy's strong, you don't gotta worry.
The people that have been saying, hey, there is no inflation, don't worry about that.
The people that have been saying, hey, you know the high fuel costs?
Blame that on Putin, don't worry, it's gonna go right back down.
Well, the people are starting to realize all those people have been feeding them lies the entire time.
And as we move forward into their plan, which is to bring us into the Green New Deal, the Great Reset, Trump and the Patriots, they wanted everyone to see all their lies, everything they've been telling us firsthand.
They wanted the people to see, look, look what they're going to do.
They're going to destroy the economy.
They're going to lie about it.
And then they're going to try to convince you that they have something better for you.
Well, the people aren't buying this.
The people see that everything that's been told to them, And everything that's coming is a complete and utter lie.
And as people see this, the people are going to say, absolutely not.
We're not going to be heading in this direction.
Now Trump has warned us about all this.
Remember, he told us that recession was the nice word.
What's coming is going to be a lot worse than a recession.
And now we have economists actually agreeing with Trump, saying, yes, the recession is going to be the nice word.
Now, we're going to be talking a little bit more about that a little bit later.
But first, let's talk about this Green New Deal and how they're pushing ESG investing, because that is completely and utterly falling apart And I think the people of this country and corporations and investors, they're seeing this too.
And what's very interesting about all this is that there was a new study that was released and it indicates that ESG investing is counterproductive in practice.
Kelly Hsu of Yale University and Samuel M. Hartzmark of Boston College investigated the environmental impact of over 3,000 large companies between 2002 and 2020.
They found that the green company's lower cost of capital does not lead to reduced emissions.
This makes sense since the likes of Spotify or Hospital are not particularly heavy emitters and have little capacity to reduce emissions.
Brown companies produce 260 times higher environmental impact.
By contrast, when brown companies are starved of capital, they become dirtier to avoid bankruptcy.
The green investing agenda may also have other unintended consequences.
For example, there are examples of large oil producers offloading older assets to improve their green credentials, only for their mines and oil rigs to become dirtier in the hands of new owners who operate them for longer.
It's the same principle for the UK, where efforts to prevent new domestic oil and gas production have only resulted in importing expensive hydrocarbons.
Often from less than democratic places like the Middle East or Russia.
And when you push the ESG agenda, companies, they lose money like there's no tomorrow.
And I think the people of this country, the people around the world, they're starting to realize this.
Everything the deep state, everything the Central Bank, the World Economic Forum has been pushing does not benefit the people.
And I think the people are starting to realize this.
And as the economy crashes and as we are pushed closer and closer to war, Everything is going to work against them, not for them.
And it's going to push the people away from their agendas.
And I do believe this is what Trump and the Patriots had in mind.
When you hit people with all of this and the people are suffering and the people realize that these people are liars and all their agendas do not benefit them, what do the people normally do?
They say, you know something?
We're not heading in this direction because now I see the truth.
Actually, I'm experiencing the truth and I realize this is not going to work.
But you can see the economy is going to continually break down.
It's not just going to repair itself because we know that this is the playbook that they're following.
So does Trump and the Patriots.
Instead of Trump being in the White House, instead of Trump taking on all the heat, why not allow your enemy to do what they were going to do no matter what?
It doesn't matter if Trump was in the White House or if the Central Bank was in the White House.
They were always going to bring this economic system down, and Trump needed them to bring the economic system down.
And why not do it on their watch where they're completely responsible for everything?
Remember, we are in a private Western Central Bank illusionary economy, and the only way out of it is to destroy it.
And it's very difficult to destroy because they have control.
Can they destroy the economy and blame it on Trump if he was in the White House?
Absolutely.
If they bring the system down and Biden's in the White House, well, does that reflect on Trump?
No.
It reflects on the Biden administration, the Fed, and the Treasury.
That's what people are noticing.
But you can see that everything's starting to fall apart now.
And I do believe we're already in a recession.
Yes, the Fed, the data is going to point way back and say, hey, by the way, the recession started in early 2023, just for anyone that's curious about it.
And right now, we're heading into something that's a lot worse than that.
And you can see that manufacturing right now.
Well, that's not doing too well.
U.S. factory orders rose just about 0.3% month-to-month in May, well below the 0.8% month-to-month expectation, dragging the year-on-year change into the red down 1%.
And this is the first time since October of 2020.
Worse still...
Core factory orders fell for the fourth straight month in May, down 4.24% year on year, worse since September 2020.
And the ISM data, well, that just shows that everything is going to get a lot worse as we move forward.
And what's very interesting is that we have a major debt problem in this country.
Rates are moving up.
Debt is increasing.
And this is a complete and utter nightmare.
And what's very interesting about the debt problem and about the deficit problem is that the CBO, the Congressional Budget Office, they recently released a report illustrating the fiscal problems looming dead ahead for the United States.
It's most recent analysis and annual report estimating the long-term budget outlook illustrated why Democrats' solution to the problem, namely massive tax increases, won't solve our budgetary woes.
According to the CBO report, the federal government faces massive deficits over the next 30 years.
Specifically, deficits are projected to grow almost every year over the next three decades.
As a percentage of the economy, they would average more than twice the average deficit over the past half century, growing to reach 10 percent of the entire economy in 2053.
What will cause these deficits?
As the CBO reports notes, it's not low levels of federal revenue.
In fact, the budget gnomes believe that revenues measured as a percentage of GDP are projected to be higher than they have been on average in recent decades.
Instead, spending will drive our deficits.
Federal outlays will reach levels seen only twice in our nation's history, during World War II and during the COVID lockdowns.
Spending will rise faster than revenues almost every year, leading to greater and greater federal deficits.
Rising deficits will bring with it rising levels of debt.
And according to the CBO, federal debt as a share of GDP will reach an all-time high in 2029, exceeding levels during and after World War II.
But even after reaching 107 percent of the economy six years from now, the debt will rise still further, hitting 181 percent of GDP 30 years from now.
All that debt will lead to higher interest costs, such that net interest costs will nearly triple over the coming three decades after they have already risen sharply over the past two years.
By 2051, CBO estimates we will pay more in interest on the national debt than we will spend on Social Security.
Let's talk about protecting our wealth.
The U.S. dollar has lost 85% of its value since the 70s when the dollar decoupled from gold, and the government seems bent on continuing the tradition.
From now until after the next elections, the government can print as much money as they want.
The last time they did that, inflation went up 9%.
This means one thing, the security of your future and your family's future is all in your hands.
Make sure you freeze the value of the wealth you are holding.
Invest in gold with Noble Gold Investments.
Gold is one asset that has proven to withstand recession, inflation, and just about all economic threats.
Noble Gold Investments is here to help you if you want to invest in gold.
You will also get a 24-carat, one-quarter ounce gold standard coin for free.
Go to x22gold.com.
That is x22gold.com or click the link in the description.
And remember, there's always a risk of investment and there's no guarantee of any kind.
And like I said from the very, very beginning, this system that was created to push blackmail, to push spending, to continually print, does not benefit the people whatsoever.
Even if they didn't spend that much, the system still breaks down no matter what.
But what we're witnessing right now is we're witnessing the acceleration of how this system is really run.
And now the people can see very, very clearly what inflation is.
And what I mean by inflation, I mean the devaluation of the currency.
And people can actually feel how their currency is worth less and less and less because they need a lot more of it to spend on the same exact items.
And as we move forward, it's just going to get worse and worse.
And what's very interesting is that Peter St.
Onge, PhD, he let us know that if we look at GDP and GDI, well they should be the same, but they're telling completely different stories.
And it shows that we're going to be heading into a pretty darn bad recession.
Now, I do believe we're already in a recession, and this recession is just going to get a lot worse.
And what's very interesting is that Evercore founder is not agreeing with Powell, who says, you know, we might head into something that might be a little recession or we might have nothing.
It looks like the economy is doing well.
Well, the Evercore founder is disagreeing with him.
And this is Roger Altman saying, no, no, no.
The U.S. is in for a more serious recession than Powell thinks.
And the market veteran pointed to the inverted treasury yield curve and troubling signs among small businesses.
A moderate recession is the most likely outcome by the end of the year.
The U.S. is headed for even more serious recession than Jerome Powell has projected.
Now, since a recession really hasn't been officially declared yet, it doesn't mean that you're not in a recession.
Because when you look at the inverted yield curve, it has preceded previous recessions by about 18 months.
And this is according to Altman.
And when you go back in time, you look at 1989, you look at 2006, we saw the same exact thing.
We saw the inverted yield curve.
And it was way before they even announced there was a recession.
Plus, there's another data set that Altman has been looking at.
And they're saying that this is also signaling a recession.
So this index recently dipped below 48, a threshold that's typically correlated with a downturn.
So basically, we're seeing the same things that we've seen in the past.
We have the Fed telling us, don't worry about it, everything is fine.
And we have the Biden administration and Obama in the basement letting us know that everything is fine.
And when we start to really look at the real economy, The people are realizing there are problems.
People are seeing layoffs, actually, Challenger Gray and Christmas.
They're letting us know that layoffs are really picking up and they're getting a lot worse.
People are seeing inflation.
People are seeing high energy fuel costs.
People are seeing all this and it's just going to get worse and worse as time goes on.
Now, I do believe as we enter 2024, it's going to really accelerate and people are going to see a lot more people lose their jobs.
Remember, Trump, he was able to create jobs.
Biden hasn't created any jobs.
All he did was fill the jobs that Trump created.
He didn't fill them all.
He was short about three million.
Now we're losing the jobs and it's getting worse and worse.
And we know why all this is happening.
The deep state, the central bank, the World Economic Forum, what do they want to do?
They want to destroy their own system, but they just can't bring it all down and say, oops, look what we did here.
They need to make it look natural.
They need to make it look like, hey, we have everything under control.
And look, it just fell apart.
Now, they're going to need a cover story because they don't want to be blamed for it.
When they actually bring it down, remember, they've been telling us that the economy has been strong, inflation is under control, everything looks good.
So they will need some type of an event.
They don't have one right now, so they're going to create one.
I do believe this is going to be a cyberattack.
But the people, they're already going to realize that the cyber attack really had nothing to do with the economy coming down because the economy was already in bad shape because people feel it every single day.
This is why when you look at the poll numbers with the Treasury, with the Fed and the Biden administration, they're not buying what they're selling.
They don't believe that the economy is okay.
They know there's major, major problems.
And those people that are on a fixed income, those people that have families, they can see it every single day.
So yes, they could try an event.
They can try to convince people.
But in the end, it will not work.
But we know why they're doing all this.
They're trying to bring us into the central bank digital currency, which is the Great Reset.
Trump and the Patriots, they want them to destroy their own system, so this way Trump can usher in a different system, which is going to be backed by we the people.
And I do believe Trump at this point has the upper hand, and we can see there are certain individuals around the globe that are saying central bank digital currencies, they are not the way to go.
And people are actually calling the central bank out on this.
And remember, here in this country, in the United States, The House needs to vote on this.
The central bank just does come in and say, hey, by the way, everyone switch over to central bank digital currency.
It doesn't work that way.
So they would need to vote on this, and this is why the Deep State, the Central Bank, the World Economic Forum, this is why they're bringing us down this path very slowly to have some type of an event to scare the House, to scare the people into voting for this.
But I think the people are way too awake at this point, and they're not going to be scared into doing this.
But if you look out in the UK, we can see the UK Financial Services Minister Is actually letting everyone know, be careful about central bank digital currency.
Britain should be cautious about issuing a digital pound, central bank digital currency, given privacy and other issues involved.
And he's absolutely right.
And we're starting to see a lot of individuals saying, listen, we know what the central bank digital currency is all about.
We know they can shut down your spending at any time.
We know it's all about total control.
And in the end, the people aren't going to buy this.
The people are awake.
The people are seeing what the World Economic Forum, the Central Bank are pushing.
And as the crisis rears its ugly head, and the Biden administration, the Treasury, and the Fed still don't admit they were in a recession, and people see layoffs.
They see inflation picking up.
They see high energy costs.
The people are...
No longer going to believe them.
There might be a couple right now that are still believing them, but when the recession really goes into a deep recession, that's when people are going to say enough is enough.
You could tell us the economy's great.
You could tell us whatever you want, but we can see it for our own two eyes.
It's almost like going back in time when they told us there were no riots.
Remember, these are just peaceful protests.
And what people saw were looting, burning, destruction, death.
And the people, they didn't believe the corrupt politicians.
They didn't believe the fake news.
The same thing with the economy.
And this just doesn't affect one side.
This affects everybody.
Because if you can't make a living, if you can't make money, you're screwed.
And the population is going to realize this.
And yes, we're going to have the Biden administration, Obama in the basement.
We're going to have the Fed, the Treasury.
They're going to tell us that everything is fine until it's not.
And the people are going to see this.
The people are going to experience this.
And the people are going to say enough is enough.
And the people are going to say, we need something completely different here.
We're not following these people.
And this is where Trump and the Patriots, this is where they step in.
Everything that they're trying to do right now, the World Economic Forum, the Central Bank, it is going to completely backfire on them.
Trump, the Patriots, they let them down this path, and now they're screwed.
Listen, everyone, thanks a lot for listening.
Be well, be safe, and especially be prepared.
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