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Climate Crisis is Upon Us

Climate Crisis is Upon Us

One of the more useful allusions hidden in plain sight in the recent IPCC / UN report on climate crisis is the distinction between the pre-industrial and industrial ages that defines the era of climate crisis. Industrial capitalism, a/k/a capitalism, is the cause of climate crisis. Plenty of pseudo-scientific rubbish about human caused and Anthropocene can be found in the report’s text. But industry— the integration of science and technology in capitalist production, is identified as the cause. No longer are goat herders in Turkmenistan as responsible as the executives of Exxon-Mobil for the unfolding debacle.

The report is striking in its urgency. Feedback loops and tipping points contradict any straight-line assurances of an orderly and knowable path forward. Behind pages of stark calculations can be found Gaia, the unknowable relations of Mother Earth that make a mockery of scientific certainty beyond the understanding that the environment of the planet is being destroyed and needs to be fixed. Missing is any semblance of a political program to move resolution forward. But also missing is the usual subtext of technocrats meeting in swank hotels to eat four-star meals, swap resumes and network. The stakes are now apparently too high.

Identification of the industrial age— capitalism, as the cause of climate crisis brings with it a host of related revelations. Capitalist wealth becomes a crude measure of its reciprocal in environmental devastation. The relation of wealth to political power makes timely and / or peaceful resolution improbable. Capitalist accumulation will hereafter be a measure of informed socio-pathology. The writing is on the wall. The American political ‘choice’ between the wealthy or their technocratic servants is a formula for environmental annihilation. The system crisis is a metaphor for the political crisis that makes resolution so intractable.

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Path to the Great Reset

PATH TO THE GREAT RESET

Gold has been money for most of recorded human history. Industrial capitalism operated on a global gold standard up until the world wars shredded Europe’s economy. In 1933, President Roosevelt criminalized private gold ownership using an executive order, and the U.S. government forced citizens to sell their gold at a below-market valuation. This gold was melted down into bricks and shipped to Fort Knox where KPMG says it still sits to this day.

The Bretton Woods Agreement was executed in 1944, which pegged the U.S. dollar to gold at $35 per ounce, and installed the dollar as the world’s reserve currency. Under Bretton Woods, all other national currencies were pegged to the dollar, and foreign central banks could exchange dollars for gold at the fixed rate.

The Bretton Woods Agreement required the U.S. government to maintain the dollar-to-gold exchange ratio, but that didn’t happen. The U.S. government instead ramped up the printing presses to power its “Guns and Butter” campaigns in the fifties and sixties. Eventually foreign central banks caught on and began to exchange their dollar reserves for gold through the gold window. Gold steadily flowed out of the U.S. Treasury until August 15, 1971 when President Nixon unilaterally closed the gold window and ended the U.S. dollar’s direct convertibility to gold.

This action thrust the entire world onto a fiat monetary standard where all currencies floated in value against one another. The word “fiat” is defined as: an arbitrary order or decree, and the word very literally means “let it be done” in Latin. Fiat money is simply money that comes into existence and derives its value exclusively from government decree.

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Olduvai IV: Courage
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Olduvai II: Exodus
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