The Federal Reserve Announces Major 'Pilot Exercise' for ESG Social Credit Score System• Joedan Schactel's Dossier and Washington Exami
Scenario analysis will be used to examine the resiliency of financial institutions under different hypothetical climate scenarios and claims it will not have "capital consequences." The climate narrative is the primary tool to implement the ESG (Environmental, Social, and Governance) movement. Journalist Jordan Schachtel says that Pro-ESG institutions are committed to attacking free market principles by means of deception, making way for a small group of technocratic elites to manipulate society. ESG rules are akin to the Chinese social credit score, intended to be used to coerce businesses, and, by extension, individuals, into specific actions and behaviors.
The Federal Reserve has taken a major step in the direction of facilitating an ESG compliant monetary network that effectively acts as a parallel system to that of the Chinese Communist Party's infamous social credit scoring system.
The Fed said in a statement Thursday:
"Six of the nation's largest banks will participate in a pilot climate scenario analysis exercise designed to enhance the ability of supervisors and firms to measure and manage climate-related financial risks. Scenario analysis—in which the resilience of financial institutions is assessed under different hypothetical climate scenarios—is an emerging tool to assess climate-related financial risks, and there will be no capital or supervisory implications from the pilot."
In other words, The Fed is working with the big banks to monitor their ability to comply with the ruling class's preferred enviro statist technocratic tyranny.
The unaccountable people behind the American money printer claim that this exercise is "exploratory in nature and does not have capital consequences."