The EU’s gigantic green python slowly eating its own tail – the EU Green Deal - way ahead of the UN IPCC climate plans

Russia’s invasion of Ukraine combined with the C19 pandemic has accelerated the European version of Mao’s cultural revolution in the areas of “climate change”, such that it is now way ahead of any UN IPCC goals.

Far from recognising the massive amount of economic costs, damage and hardship that C19 pandemic  lockdowns and injections inflicted on an already overtaxed and underserved population, the EU has “doubled down” on its “race to de-base” by accelerating the roll-out of its “climate transition” policies.

See if you can spot the parallels of logic with the roll-out of C19 injections – lie about the results  of falsified research and ignore all collateral damage.

There is no climate emergency. The goals of the “Greens” is to prevent all economic growth, raise energy prices to levels where people cut usage in half and for people to eat bugs or plants – no meat.

Zero growth combined with food and energy inflation of 50% over the next seven years. That is the goal.

Cutting the use of hydrocarbons as a source of energy leads directly to lower standards of living, via higher costs for inefficient alternatives. Planting millions of acres of (unrecyclable) windmills and solar panels with the need for millions of miles of transmission wires – using child and slave labour to mine mineral, metal and rare earth resources in the third world – is an exercise in a cruel, hypocritical folly.

The EU Green Deal is outlined here:

European Green Deal - Consilium (europa.eu)

“The European Green Deal is a package of policy initiatives, which aims to set the EU on the path to a green transition, with the ultimate goal of reaching climate neutrality by 2050.”

A timeline of policy changes and “adoptions” for the last 6 weeks is below:

“Timeline

03/05/2023 - Council adopts its position on empowering consumers for the green transition

25/04/2023 - Council and Parliament agree to decarbonise the aviation sector

25/04/2023 - Council adopts key pieces of legislation delivering on 2030 climate targets

30/03/2023 - Provisional deal on the renewable energy directive

28/03/2023 - Member states set their position on future gas and hydrogen market”

The 2050 goal has  a mid-period 2030 milestone target:

“European climate law

The European climate law regulation turns the political ambition of reaching climate neutrality by 2050 into a legal obligation for the EU.

By adopting it, the EU and its member states committed to cutting net greenhouse gas emissions in the EU by at least 55% by 2030, compared to 1990 levels. This target is legally binding and based on an impact assessment carried out by the Commission.”

In the next seven years, the EU commits to reducing greenhouse gas emissions by 55% below levels of 1990 Emissions have already been cut a lot over the 33 years since 1990, so that is not as severe as it seems.

This, of course, completely ignores the largest Greenhouse Gas (GHG) - water vapour, lie clouds nor does it impose any restrictions on the biggest planetary contributor to GHG’s – China.

All this is part of a “Fit for 55” policy. As you would expect, despite having just 10% of the seats in the European Parliament, the Green parties dominate the EU policy that impacts the 90% who are already ticked off about the lowering of their standards of living.

Check out this set of “initiatives” that has bureaucrats drooling all over the EU:

“The package is a set of proposals to revise climate-, energy- and transport-related legislation and put in place new legislative initiatives to align EU laws with the EU’s climate goals. It includes:

·        a revision of the EU emissions trading system (EU ETS), including its extension to shipping, and a revision of the rules for aviation emissions and the establishment of a separate emissions trading system for road transport and buildings

·        a revision of the effort sharing regulation on member states’ reduction targets in sectors outside the EU ETS

·        a revision of the LULUCF regulation on the inclusion of greenhouse gas emissions and removals from land use, land use change and forestry

·        an amendment of the regulation setting CO2 emission standards for cars and vans

·        a revision of the renewable energy directive

·        a recast of the energy efficiency directive

·        a revision of the energy tax directive

·        a carbon border adjustment mechanism

·        a revision of the directive on the deployment of alternative fuels infrastructure

·        ReFuelEU Aviation for sustainable aviation fuels

·        FuelEU Maritime for a green European maritime space

·        a social climate fund

·        a revision of the energy performance of buildings directive

·        reducing methane emissions in the energy sector

·        a revision of the third energy package for gas”

Eyes glazing over yet? Remember, the process is the punishment! All care and no responsibility for any and all harms inflicted.

Who is going to pay for all this? Certainly not any politician or political party. It will all be paid for with debt.

Here’s one component of the debt wheeze:

What is the EU's Recovery and Resilience Facility? | Euronews

“This €723.8 billion temporary recovery instrument aims to mitigate the economic and social impact of the COVID-19 pandemic and help Member States advance green and digital transitions.”

Mitigate the economic and social impact of the C19 pandemic screw-ups across the EU that saw some of the worst instances of fascist dictatorship since WW2.

But really it’s designed to “advance green and digital transitions” – any pandemic reimbursements for deaths and harms from lockdowns and infections is purely coincidental.

The Union of European Socialist Republics (UESR) thinks that money grows on trees and is irrelevant to any policy decision. The UESR considers that money for government spending is limitless and those that work for it, may as well allow the ECB to print it, and governments to run any kind of fiscal deficit they please. Gone are the days of the “Maastricht Treaty” where debt to GDP was limited to 60% and deficits to 3%.

Check out the growth in the ECB money printing press from here: Monthly Balance Sheets (yardeni.com)

(Check out Figure 6 for how the S&P500 index moves up and down in lockstep to central bank actions over the last 15 years).

The European Central Bank will need to at least double the size of its balance sheet to pay for the European Green Deal – which will itself cause massive inflation.

Print and be damned, right? 8.5 trillion bucks = half of EU GDP and more than a years worth of taxes taken across the entire EU!

By the way, notice the same language as in the revisions to IHR2005 and the new pandemic treaty being discussed as we speak? The EU is IMPLEMENTING the draft version now!

“The Facility is structured around six pillars: 

·        green transition

·        digital transformation

·        smart, sustainable and inclusive growth

·        social and territorial cohesion

·        health, economic, social and institutional resilience

·        policies for the next generation

Nothing measurable or accountable – no measurable benefits to anyone. with no budgeted costs (just access to lots of loans and grants) that everyone will have to pay to transact and comply with these insane and delusional policy directives. “Here take this “free” money and do what I say – don’t worry about your costs for living going up 50% and your taxes going up by the same – you have been and now you must pay the piper”.

Right, at this point, those who detest looking at complex economic numbers should click off.

Pulling this data is like pulling teeth. There are so many variables that are calculated differently by the various government and supranational bodies as to make the task almost impossible.

However, because I have had a pop at it, I will present some tables on debt and taxes on the US and EU.

Top level. EU v US - apologies for making you squint!

EU debt is inferred from metrics which claim that it is 84% of EU GDP.I suspect this is way too low.

EU has the same level of nominal debt to GDP as the US, its taxes are double and its GDP per capita is half of the US.

First – the data is dodgy, sourced from the  OECD Revenue Statistics: Key findings for France (oecd.org) I cross checked the US numbers Government Receipts (whitehouse.gov) and replaced them.

World Bank data is even worse Tax revenue (% of GDP) | Data (worldbank.org)

Otherwise the US tax take would have been closer to 7 trillion bucks! The same process should have been applied to each EU country as well. The 40.7 % EU tax take/GDP is drawn from a proxy basket of nine EU countries – not from an EU source as I could not find such a source at the EU level. Lots of data on Wikipedia is similar, but it is not from a single source or the same method. The closest I managed to get was data from here:

World Debt Clock - Real Time National Debt Clocks (worlddebtclocks.com)

Ok, here’s the starting position for major and minor EU countries of note that will have to conform to the “European Green Deal”

The Debt to GDP ratios of Portugal, Italy, Greece and France are in triple digit percentages. Taxes already take 40% of activity – people work 2 days out of 5 for the government. Enquiring minds want to know what happens in Luxembourg for its 600,000 odd people to produce 145,000  dollars of debt each. The Irish have borrowed 71 thousand bucks each too. Portugal, Italy, Greece and Spain look decidedly prudent in comparison on a debt per capita basis.

The point is that the EU (and the US) have already maxed out their credit cards AND their tax rates already condemn their populations to state slavery for 2 days a week out of 5.

The European Green Deal will make energy more expensive and companies will have to lay off workers in order to stay in business as they “transition”. Transition is such a sick term these days in light of what is going on with children’s gender choices. Maybe its all part of the same plan and it is a distinction without a difference.

Lastly, I thought I would see what impact there has been on TARGET balances at the ECB. (TARGET = Trans-European Automated Real-time Gross settlement Express Transfer). It is a device to balance the books.

Using data from here:

 Data - TARGET balances - ECB/Eurosystem policy - Reports - ECB Statistical Data Warehouse (europa.eu)

You can derive this table in Euros:

A positive balance indicates that other countries owe money to a country – a negative balance indicates that a country owes other countries money. You might ask how the ECB’s 2,500 or so employees could possibly have run up so much debt, but then, they also bought 8.5 trillion bucks worth of debt, so there is that. Those 600,000 people in Luxembourg have managed to run up credits of almost 300 billion Euros. Ireland’s 5 million people are owed almost 90 billion Euros. Pretty good! As I said, these are “book entries” and signify nothing – just the need to keep them, for another reason (finger pointing?) .

You can check out more detail on TARGET here:

TARGET balances of participating NCBs (europa.eu)

What are TARGET2 balances? (europa.eu)

Smoke and mirrors – there are many wizards behind the curtain, “creating impressions”.

Onwards!

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