The imploding new world economic order

Written by Terence Corcoran on February 26, 2022. Posted in Current News

As Canada staggered through another day of the truckers’ convoy crisis, on Saturday, February 12, the province of Ontario’s electricity generating corporation released a dazzling video of the highlight of the day, the deliberate implosion of four coal-fired power generating plants.

The destruction of the Lambton Generating Station in southwestern Ontario was swift and effective, the four units gone in less than a minute in clouds of dark grey smoke.

A few local news outlets covered the demolition of the plants that had produced electricity from coal for more than 30 years and could have produced for another 30 years. But the event was non-news.

Lambton was but a tiny local demonstration of the expanding impact of the economic and political theories promulgated by members of the United Nations climate regime and the World Economic Forum.

Blow up coal plants and Build Back Better with wind and solar and maybe cleaner natural gas, unless you’re on the far end of the New World Economic plan and also want to blow up gas plants.

In Germany, the government closed nuclear power stations and elected to adopt natural gas as a key energy source, claiming it represented “an important bridging technology on the way to greenhouse gas neutrality.” A new pipeline from Russia was intended to provide the gas. But then came Vladimir Putin.

Hailed in 2017 by World Economic Forum leader Klaus Schwab as a Young Global Leader, Schwab later introduced Putin to a 2021 WEF audience as the voice of non-confrontation in this new world.

“At this moment in history,” said Schwab, “where the world has a unique and short window of opportunity to move from an age of confrontation to an age of co-operation, the ability to hear new voices, the voice of the president of the Russian Federation is essential, even and especially in times characterized by differences, disputes and protests.”

Putin’s WEF speech zoned in not on his Ukraine strategy but on the risks posed by COVID-19 to global stability. He seemed to be blaming the pandemic for rising global tensions. “The coronavirus pandemic has become a major challenge to mankind, and it has accelerated structural changes, the preconditions for which were already in place.”

In retrospect, Putin was using the COVID crisis as a scene-setter for his larger ambitions. Russia’s moves this week to annex the Ukraine have forced Germany to reverse its approval of the Nord Stream 2 gas pipeline from Russia. Having figuratively imploded nuclear plants, Germany now will have to blow up its new gas pipeline, although nothing is certain. Germany needs the gas; Russia presumably needs the revenues.

In the last two years, mired in climate and pandemic policy, Germany, the United Kingdom and most of Europe have been sliding into an energy and economic crisis, pushed along by the climate NetZero 2050 fantasy of a power system driven by renewables and natural gas. Coal and nuclear plants are being closed, creating energy price chaos — except in China and other coal-dependent nations.

The price of oil appears to be on track for US$100, propelled in part by the Ukraine crisis but perhaps more importantly by the post-pandemic economic crisis generated by massive government spending and central bank stimulus.

It was all part of The Great Reset. Inflation is rising around the world, interest rates are set to follow, and public debt uncertainties — brought on by pandemic spending and economic controls — set the scene for ongoing turmoil.

Most of the current situation — from supply shortages to gold hitting US$2,000 — is the product of a new willingness to take government intervention to new levels, as part of a plan to reshape capitalism and the world economy. Just last month, China’s President, Xi Jinping, outlined his view of the new global policy axis before a World Economic Forum agenda session.

Echoing Putin, Xi said:

“The world today is undergoing major changes unseen in a century. These changes, not limited to a particular moment, event, country or region, represent the profound and sweeping changes of our times … in a new period of turbulence and transformation.

How to beat the pandemic and how to build the post-COVID world? These are major issues of common concern to people around the world. They are also major, urgent questions we must give answers to.”

Instead of answers, we have exploding coal plants, government debt and central bank balance sheets, along with invasions, inflation and shortages.

See more here: financialpost.com

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