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ESG Will Bankrupt You — Financially and Morally

By Allan J. Feifer

Do you believe in cautionary tales or think most things happen without warning?  Your answer might reveal how your psyche processes information to which you are exposed.  Everything you need to make good decisions is readily available, depending upon which sources you rely.

Recently publicized topics should set your spidey senses twitching:

  1. Silicon Valley Bank suffers an abrupt collapse.
  2. Joe Biden resurrects the all-but-dead Willow Creek Oil project.
  3. Biden’s Energy Secretary praises China’s work on climate change.
  4. The president delivers his vision for his FY 2024 budget, with a $6.9 trillion price tag.
  5. 40,000 hours of security footage inside the Capitol on January 6th are released to the public, initially through Tucker Carlson.

All of these bullets connect — ESG (Environmental, Social, and Governance) ideology permeates everything, and it will cost us all.  You’ll understand who wins and who will lose when ESG is fully implemented.  ESG is intended to replace the profit motive for large companies with something more akin to a social conscience.  What could go wrong?

Prepare to be amazed!

Silicon Valley Bank

The biggest little bank you had never heard of was a key bank to the small and medium-sized businesses in the tech industry.  Remember, the FDIC guarantees up to $250,000 per account.  But, in a jaw-dropping move, Biden bailed out all accounts in a change not contemplated by the FDIC act.  Is this to be the new FDIC standard?

Where did Biden get such authority, and is this yet another abuse of his presidential powers?  Where’s Congress in all of this?  Given Biden’s extra-lawful money grabs, why have a Congress at all?

Early information about the bank’s demise gives a definite and suspected reason.  Long-term bonds, issued at low yields, secured many of the bank’s assets.  When liquidated early to cover cash calls, SVB suffered huge losses.  Why did SVB need cash?  Because the government spent trillions it did not have making the money supply massively inflated, thus creating runaway inflation.  The Fed’s only real inflation-fighting weapon is raising interest rates, which it has done so at a voracious rate, thereby making everyone poorer.  Biden’s wasteful spending is directly tied to the default of SVB and other banks.
Even more controversial is that SVB’s head of risk management spent considerable time spearheading multiple “woke” LGBTQ+ programs, including a “safe space” for coming-out stories, even as the firm catapulted toward collapse.  Like its tech clients, SVB embraced ESG and took its eyes off the ball while serving “higher interests.”

Willow Creek Oil Project

It would be difficult to find another oil field approval on public land since Biden came to office.  Biden’s earlier statements about ending our dependence on fossil fuels without regard for Americans going cold this winter; making electricity less and less affordable for the everyday citizen; and seizing the freedom a personal vehicle brings all show he believes such suffering will make us more pliable as the only alternatives are those that fold into his “green” energy agenda…

READ FULL ARTICLE HERE… — Financially and Morally – American Thinker

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