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IPFS News Link • Central Banks/Banking

Well that explains everything: Bankers bullied Australia into Net Zero


So Australia is adopting Net Zero because the Global Financiers, who only want to save the world, would have refused to lend us money without jacking up our interest rates by 1.5%. The banker punishment would have meant a "17% investor exodus".  Fancy a stock market collapse?

This remarkable admission comes in the modeling released today by the Morrison government. No one is even trying to hide it.

At least we can stop pretending this has anything to do with science or the voters. Just cut out the IPCC and go straight for the BlackRock Temperature Tax, eh?

Note the "penalties" are imposed by global financiers:

Modelling shows real cost of no net-zero carbon emissions

Greg Brown and Geoff Chambers, The Australian

Businesses and households would have faced interest rate hikes of up to 1.5 per cent under expected penalties imposed by global financiers if the government had failed to adopt net zero emissions by 2050, modelling for the Glasgow climate package shows.

The penalty regime would have sparked a 17 per cent investment collapse by the middle of the next decade, cutting 0.9 per cent from gross domestic product and making each Australian more than $650 poorer.

Households would have paid an extra $25bn a year to service home loans, and business and credit card debts.

If only Australia had its own sovereign currency? If only there were competitive money lending institutions out there, somewhere in the whole wide world who were happy to loan us money purely for profit? But no such luck.

Who knew bankers would turn down profits to protect the turtles?