Attack of The Killer Climate! BIS Buys Into A Monster Movie

THE funniest thing about German director and writer Roland Emmerich’s 2004 meteorological disaster flick The Day After Tomorrow is that it was made to cash in on climate hysteria but had to accelerate catastrophe so it could be concertinaed into a cinematically viable timeframe; into mere days, in fact. Emmerich admitted his other motivating deadline was the 2004 US presidential election. The film’s inept President and Vice-President were meant to be mockeries of George Bush and Dick Cheney, both supposedly indifferent to ‘climate change.’ Two years later, Al Gore worked essentially the same narrative artifice and earned fulsome praise for doing so. When it comes to weather-doom, the challenge for promoters is to make theorised but non-existent terror an ongoing cultural and political spectre. Along the way, a shorter-term benefit is supposed to be the routing of non-leftist governments, incumbent or prospective (which never seems to happen). They’re trying it again now using the 2019-20 bushfires. Leftist historians of culture like to argue the brilliant monster movies of the 1950s were metaphors for the psychological distress of potential nuclear war. Among the better known of the genre are The Day the Earth Stood Still (1951), The War of the Worlds (1953), The Blob (1958) and Invasion of the Body Snatchers (1956). The difference between these two kinds of schlock is that the threat from communists and their collaborators was real. Enter The Green Swan.

Released on Monday by the Bank for International Settlements, The Green Swan is both the name of a new book (link is to the PDF) and what its authors obviously hope will catch on as a “climate-change alternative to the term ‘black swan’, used to describe unexpected and extreme occurrences that have major effects.” The headline thesis of the report is that the world’s central banks (including the RBA) may have to take over coal mines and coal-fired power stations following a climate-caused disaster – this to fulfil their stabilisation mandates and forestall a GFC. Borrowing the fantastic hurry-it-along plot device of Emmerich, the BIS argues that “under an abrupt transition scenario … financial assets could be subject to a change in investors’ perception of profitability [and] lead to fire sales which could trigger a financial crisis.”

The “abrupt transition scenario” could be anything – even whatever is popularly perceived to be the ultimate cause of a damaging weather ‘event.’ As we have seen this summer, ‘perception’ of linkages and culprits is routinely manipulated by the media, left-wing politicians and corporate scaredy-cats. Anthony Albanese has gone on record saying that under Labor, no coal-fired power station will be built in Australia ever again. The BIS is – dare I say it – playing with fire. Four of the five authors of The Green Swan do not work for the BIS at all (as acknowledged at its website). Three are professional climateers while Professor Patrick Bolton is a business economist with a blue-ribbon resume. Blue ribbon or not, he appended his name to a document that begins by quoting the 11,000 scientists of debacle fame. It will be recalled that one of the 11,000 was Mickey Mouse. If you can forgive that – in Chapter One’s epigraph – and read on, you will find a lot of politics and weather forecasts but nothing actuarial and nothing that hasn’t long been subsumed within conventional insurance economics.


Related: Landmark decision from UN Human Rights Committee paves way for climate refugees.

“The UN Human Rights Committee considered a challenge brought by Mr Teitiota, and while the committee found he was not at imminent risk, it did find that such claims may be upheld in future as the impacts of climate change worsen.”


In other words, The Green Swan is one of a growing list of official bureaucratic documents (or interventions) whose purpose is to keep fear alive (because the voting public isn’t fearful). Like the others, it brings forward into the cinema of now imagined catastrophes from the future. Most disturbing of all, The Green Swan seeks to psychologically undermine – indeed, gaslight – the energy industry. While it’s true that perceptions alone have crashed markets, it is mendacious to assert this could ever occur in relation to electricity without political and administrative sabotage. The BIS is nodding and winking to the perpetrators – even if its actuating premise (in different words) is correct: that ideological saboteurs could indeed ruin profits in the sector (or the perception of future profits). If this was a rational age, the so-called ‘central banks’ central bank’ would have made the same argument but as a warning to policy-makers of the havoc climate zealots – not the climate – have already wrought. Josh Frydenberg today rejected The Green Swan’s buy-out scenario while embracing the “adaptation, mitigation and resilience measures” it also encourages. I started by referring to the most hilarious aspect of a bad weather movie. As risible schlock, not even that comes close to the Treasurer and the Opposition Leader discussing carbon dioxide emissions today … for the year 2050.

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32 Responses to Attack of The Killer Climate! BIS Buys Into A Monster Movie

  1. Iain Russell

    I assume the avid buyers of these mines and power plants will be the Chinese. Their world domination will then be complete.

  2. stackja

    BIS

    We pursue our mission by:
    fostering discussion and facilitating collaboration among central banks
    supporting dialogue with other authorities that are responsible for promoting financial stability
    carrying out research and policy analysis on issues of relevance for monetary and financial stability
    acting as a prime counterparty for central banks in their financial transactions
    serving as an agent or trustee in connection with international financial operations

    BIS is creating instability. Using OPM.

  3. Penguinite

    Lose lips sink ships! Don’t these fools realise they are only opening the door for more claims. This is what John Howard did in his last crusade. Now look where we are. Mind you Rudd would have done and did throw the door wide open.

  4. liliana

    I am always amazed how climate fanatics only berate western nations ignore that coal fired power stations are still being constructed all over the world. The ridiculous self-flagellation about the evils of coal needs to pointed out at every opportunity. China alone has tripled it’s coal generation since 2004 and is currently constructing the equivalent of 6 Hazelwood generators. This inconvenient fact is ignored by the climate sheeple and needs to shoved in their faces at every opportunity.

  5. Win

    The targeting of western democracies only for climate change is just the agenda to bankrupt the people .A bankrupt poverty stricken unemployed population kills itself with drugs and alcohol the void filled by an obedient already indoctrinated population via mads migration.

  6. PB

    It only makes sense when you realise that it has never been about climate anything.

  7. Gab

    Sadly the climate hystericals believe these types of movies are more documentaries than just Hollywood fiction.

  8. Old School Conservative

    My comment was rejected by the Oz this morning:
    Due to her lack of schooling, Greta doesn’t know that she emits CO2 with every breath.
    Or is she implying that the world population must be trimmed?

    No criticism of Saint Greta allowed.

  9. RobK

    ….would have made the same argument but as a warning to policy-makers of the havoc climate zealots – not the climate – have already wrought.
    To me this is the salient point. The cure us far worse than the disease. The world’s environment has never been static. Man isn’t the only player, resilience and adaptability are key to survival, fear and panic is not.
    If we were to build a lot of generators of all sorts, efficiently, as they would in competition, then a hydrogen economy may well develop and transition from fossil fuels in 50 or so years time.

  10. RobK

    I suspect hydrogen bonded to one or more carbon atoms will be a good store for cheap and efficient energy use. We are not far from that point now. Even coal is a good source of carbon and water a good source of hydrogen.
    https://www.energy.gov/eere/fuelcells/hydrogen-production-coal-gasification

  11. Roger

    I am always amazed how climate fanatics only berate western nations…

    Connect the dots.

    Meanwhile, Kaufland has exited the Australian market early reportedly due to fears re the impact of climate change on the supply chain.

  12. Bruce

    H. L. Mencken had a few things to say about this sort of thing.

    These will do for starters:

    “The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.”

    “The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, and intolerable.”

    “Men go mad in herds and recover their senses one by one”

    “The urge to save humanity is almost always a false front for the urge to rule. ”

    Observant chap, old H. L..

  13. Robber Baron

    Who is BIS and who owns it?

    Kaufland knows that Australia is toast.

  14. stackja

    Robber Baron
    #3299814, posted on January 23, 2020 at 11:31 am
    Who is BIS and who owns it?

    Australian tax payers through RBA.

    the BIS is owned by 60 central banks,

  15. Shy Ted

    Do all you can politically to drive down the value of insert asset here then buy at rock bottom prices. Like Obama’ mates in the US.

  16. duncanm

    Well – the UN has to invent climate refugees, otherwise how are they going to meet their 2010 target of 50 million refugees ?

    Kiribati was supposed to have disappeared.

  17. duncanm

    Bruce
    #3299811, posted on January 23, 2020 at 11:30 am
    H. L. Mencken

    of course you forgot the most important quote:

    Every normal man must be tempted, at times, to spit on his hands, hoist the black flag, and begin slitting throats

  18. duncanm

    Good to see Oxfam is making up their own numbers, too.
    20 million people are displaced due to climate change every year

    .. and yet the UN says there are at total of 13.6M refugees per year, due to conflict and persecution. Not climate.

    Maybe Oxfam means “had to step back when the tide came in” displaced ?

  19. Lee

    Oxfam is so politically compromised (left wing) it’s not funny.

  20. duncanm

    Seriously, Oxfam just make shit up.

    New Oxfam analysis of data from the Internal Displacement Monitoring Centre reveals that there was a five-fold increase in the reported number of extreme weather disasters that resulted in people being displaced over the last decade. (2)

    Note (2)

    Ibid. This apparent trend may be in part a result of an increase in the amount of data being collected over the years. As IDMC notes in its 2019 mid-year report, it ‘has improved the monitoring of displacement associated with disasters over the years by detecting and reporting on more small-scale events and capturing more information about them’.

  21. Tom

    In 2020, 100% of leftist activism is devoted to trying to create an hysterical alternate reality purely through propaganda and 90% of the news media, which used to be the public’s eyes and ears, is are happy to parrot it.

  22. Kneel

    “20 million people are displaced due to economic climate change every year”

    There. FIFY. Now you can understand that they weren’t lying by commission, just by omission. They told the truth, just not the whole truth. And it was for your own good. So get back in your box and do as you are told.

  23. Tim Neilson

    Well – the UN has to invent climate refugees, otherwise how are they going to meet their 2010 target of 50 million refugees ?

    It irresistibly brings to mind the “She turned me into a newt!” line from Monty Python and the Holy Grail.

  24. duncanm

    Seriously – where the hell are today journalists? I mean those who are not hack who regurgitate press releases from people like Oxfam?

    From that ABC Link regarding Oxfam’s 20 million people.

    Fijian man Kelepi Saukitoga is planning to move house. He has no choice — the ocean is lapping at his doorstep.

    “The problem here is we are facing rising sea levels right now,” he told the ABC by phone.

    “My home is one of the homes that is being touched by the sea.”

    His house, in the village of Narikoso on Ono Island in Fiji, is where his grandparents grew up.

    The villagers have planted mangroves and tried to build a seawall out of rocks, but the island is becoming inundated as the tide rises.
    ..
    Mr Saukitoga is one of the 20 million people internally displaced each year by climate change, according to a new Oxfam briefing paper.

    Uh huh.. so I search “Fiji sea level” and get this paper.

    New sea level records from the Yasawa Islands in Fiji are presented. Beachrock occurs frequently on the beaches in the zone between mean and high tide levels on most of the islands. They date to the last 4200 years. The present sea level has produced distinct shore marks in the form of undercut notches, rock-cut platforms and sea-caves in the bedrock, as well as sand accumulations with a clear mean high tide level (HTL). The fieldwork was concentrated in 10 sites. Elevation was measured with a high-precision instrument with respect to HTL. Ages were determined by 17 C14-dates. A +70 cm higher sea level was observed, sampled and dated at AD 1530-1673. It was followed by a significant regression of about 1.7-1.8 m, killing coral reefs and cutting a new rock-cut platform some 20-30 cm above present mean low tide level (LTL). Then sea level rose again to its present position, or slightly above, a level, which remained fairly constant over the last 150-200 years. In the last 60 years corals were killed due to a sea level lowering or a severe bleaching episode. After that very stable sea level conditions must have prevailed for the last decades, forcing corals at several sites to grow laterally into microatolls.

  25. Gowest

    Where the hell are today journalists?? – OUTSIDERS are back on the 26th … only 3 days to go until we get relief from the harbingers of doom…

    Mind you now that its stopped raining its time to get out the bulldozers and cut firebreaks … singing I’m a lumberjack and I’m OK… wont that be fun on australia day – the whingers wont know where to protest!

  26. Fat Tony

    Our enemy is the MSM
    None of this is possible if they did their job properly

  27. David Brewer

    What a hopeless title – The Green Swan. I thought they were talking about Wayne’s face when Treasury told him how the 2012/13 budget was really turning out.

    Seriously, this turns out to be yet another watermelon proposal for interfering with the market on spurious environmental grounds. As usual the idea is for the institution concerned to worm its way around the government, the electorate, and its own mandate by fabricating excuses to “take action” on climate change. The particular action here is for central banks to screw resource industries by denying them rights to raise capital in their jurisdictions because climatechange666.

    From page 55:

    The study finds that about 5% of the issuers within the ECB’s CSPP portfolio would fall out of the investment grade category if climate-related risks were factored in. The author suggests that the ECB could integrate such procedures not only into its unconventional monetary policies but also into its collateral framework. Following a simpler approach for the management of its FX reserves, the Swedish central bank recently decided to reject issuers with a “large climate footprint” (Flodén (2019)), for instance by selling bonds issued by a Canadian province and two Australian states.

    So, this may be a bit more urgent than Frydenberg realises. If I were in his shoes I would be asking the RBA whether they saw an advance draft of this report and if so whether they protested. And it’s also past time for him to eject Lowe and Debelle from the RBA board before they have Australia buying into this rubbish.

  28. Squirrel

    “…the world’s central banks (including the RBA) may have to take over coal mines and coal-fired power stations following a climate-caused disaster – this to fulfil their stabilisation mandates and forestall a GFC.”

    Wouldn’t that be a handy excuse and distraction from the monumental effwittery of flooding the world economy with trillions in free (or better than free) money – nothing could possibly go wrong with that…..

  29. classical_hero

    It’s funny how the solution is global communism.

  30. David Brewer

    Frydenberg:

    Our own Reserve Bank of Australia has talked about the importance of the issue of climate change and how it is working on the impacts of that to the economy,” Mr Frydenberg told reporters.

    But also, you’ve got APRA and ASIC who have also talked about the climate change issue. But what the report also points out is the need for a balanced approach; a balanced approach which sees not only emissions reduction, but adaptation, mitigation and resilience measures put in place without compromising the strength of the economy.”

    When asked about the possibility of the RBA purchasing stranded assets such as coalmines or fossil fuel power stations, Mr Frydenberg said he “can’t see that happening”.

    Josh, this report is much more sinister than you realise. Read this bit again:

    Following a simpler approach for the management of its FX reserves, the Swedish central bank recently decided to reject issuers with a “large climate footprint” (Flodén (2019)), for instance by selling bonds issued by a Canadian province and two Australian states.

    Get it now? Other central banks are already disinvesting in Australian states’ bonds on the excuse that the states issuing them have “large carbon footprints“. If you don’t make the RBA kick up a stink about this sort of sabotage, Australia is going to have to pay higher interest rates to get foreigners to take our debt. And they had better stop their own hand-wringing and bed-wetting about global warming, which only feeds this sort of nonsense.

  31. This is pretty sad.

    The BIS was one of the best and most reputable economic institutions.

    Their analysis was very, very good.

    Now the PC and RBA are also as bad as Treasury, the best you can do is follow someone like Tony Makin or Sinclair.

  32. Rayvic

    Sadly, BIS has lost its way by embracing anthropogenic global warming groupthink, persuading central banks to accept AGW (aka climate change) by consensus.

    Consequently, many banking and industry leaders feel obliged to join the PC emissions reduction club (or should that be mafia).

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