The Federal Reserve announced a “pilot exercise” for an ESG (environment, social, governance) social credit score system. It mirrors the Chinese Communist Social Credit System.
Six of the nation’s largest banks, traitors to the nation, have agreed to participate.
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The Federal Reserve Board of Governors said the following in their announcement.
“The Federal Reserve Board on Thursday announced that 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.”
The Federal Reserve will monitor how well the banks will comply with the elites’ enviro-tyrannical mandates. They will help explain and promote their leftist views and goals.
“The Board anticipates publishing insights gained from the pilot at an aggregate level, reflecting what has been learned about climate risk management practices and how insights from scenario analysis will help identify potential risks and promote risk management practices. No firm-specific information will be released.”
This isn’t about the climate. Climate change is the excuse for the technocratic movement toward a financial dictatorship. It will kill the free market, and Stakeholder Capitalism will take over. Stakeholder Capitalism allows all the money and power to rest in the hands of a small number of elites like BlackRock, Vanguard, and State Street.
The Federal Reserve is centralizing the financial sector. All other pillars of society will necessarily fall into place. This will affect every area of our lives.
All investments will pass through the approval process set up by the Green Elites.
The announcement concludes by naming the banks.
“The banks in the pilot exercise are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo. In coming months, the Board will provide additional details on how the exercise will be conducted and the scenarios that will be used in the pilot.”
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