ECB Official: Can Use Portfolio To Combat Climate Change
Central banks have been making all kinds of ridiculous climate change statements in the last several quarters. Some monetary authorities have even said, they could also expand balance sheets to purchase climate-related financial investments.
Sabine Lautenschläger, Member of the Executive Board and Governing Council of the European Central Bank (ECB), was quoted by Bloomberg on Wednesday in Düsseldorf, Germany, as saying the ECB is prepared to use its balance sheet to support the fight against climate change.
Bloomberg quoted Lautenschläge as saying:
• Sustainability criteria are already taken into account in our portfolios that are not held for monetary policy purposes: Lautenschlaeger
• The ECB needs to address all citizens, not just an expert audience – without ever becoming political
We’ve suggested in the past, that this is just a giant ruse to sneak through MMT and helicopter money under the virtue-signaling guise of fighting climate change.
Central banks, who’ve spent a decade expanding balance sheets, have plowed trillions of dollars into financial assets across the world.
The flawed policy lifted financial asset prices but only benefited a few who held stock, bonds, real estate, etc… Everyone else, which is a majority of the global population are considered non-asset holders, didn’t participate in the decades-long orgy of cheap money, thus created a massive wealth gap that can no longer be ignored.
As a result of the wealth gap, protectionism and nationalism are sweeping across the world.
Political uncertainty across the world is at the highest levels ever.
Millions of people are currently protesting from Asia, the Middle East, and South America, calling for change after a decade of flawed monetary policy by global central banks.
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