It is a promising start to 2025 – very quietly and quietly, the money is starting to leave the climate monster banker cartel. Since Donald Trump’s victory, bankers have suddenly distanced themselves from the United Nations’ Net-Zero Banking Alliance (NZBA), a subdivision of GFANZ (Glasgow Financial Alliance for Net Zero) – the largest and wealthiest climate activist club in the world. The GFANZ is the public face of a global financial strategy that purports to save the world, but puts pressure on countries and companies through economic bullying. This powerful financial collective has a staggering sum of an estimated $130 trillion in assets under management – enough to bankrupt entire nations. It acts like a hydra that targets pension funds and government budget managers who do not submit to the “sacred” green goals. Who still cares what the voters want?
The latest wave of banker departures began a month ago with Moody’s and Goldman Sachs. Just two days ago, RealClear Energy celebrated that “US giants such as Bank of America, Citigroup, JP Morgan, Morgan Stanley and Wells Fargo” would continue to be part of the NZBA. But Wells Fargo withdrew a week ago, and during the New Year’s Eve celebrations, Bank of America and Citigroup also quietly left the ship. No one is openly commenting on the reasons, probably because they cannot admit that they were involved in anti-competitive agreements to restrict the freedom of choice of companies and voters. Nor would anyone be reluctant to admit that it was a mistake to join a club that subordinated the interests of its clients to the preferred projects of UN bureaucrats.
This retreat is largely due to Republican governors, who are taking action against these practices with antitrust and trust lawsuits. Their legal threats seem to be helping to uncover and unravel the gigantic financial quagmire – especially now that bankers have lost the “protection” that the Biden-Harris administration may have offered.
Citigroup Inc. and Bank of America Corp. have announced that they are withdrawing from the Net-Zero Banking Alliance (NZBA). This makes them the last major Wall Street lenders to leave this global climate banking group last month.
In a statement, Citigroup stressed that it remains committed to achieving net-zero emissions, but has terminated its membership in the NZBA. Bank of America also announced that it is leaving Allianz. At the same time, she stated that she would continue to work with her customers to reduce their greenhouse gas emissions.
The move appears to reflect growing skepticism among leading banks about participating in global climate coalitions while still trying to pursue their own climate goals.
The bankers just want to save the world – and sell green bonds…
Citigroup has been the world’s No. 4 green bond issuance since the beginning of the decade, behind BNP Paribas SA, JPMorgan Chase & Co and Credit Agricole SA, according to data compiled by Bloomberg. Bank of America is in eighth place.
As I explained earlier, these bankers can force first-world economies to pursue net-zero policies – even if voters don’t want to. But their power is based on a bluff made with other people’s money, and the U.S. Republicans have held them accountable. Larry Fink doesn’t own $10 trillion in personal wealth, but manages $10 trillion in other people’s investments.
The climate banking cabal called GFANZ (Glasgow Financial Alliance for Net Zero) was launched in 2021 by the UN and Mark Carney (former governor of the Bank of England). At one point, the GFANZ grew to an obscene $130 trillion in “money under management,” giving it the financial power of a black hole. The world’s 20 largest economies have a combined GDP of $87 trillion. So if a collective managing $130 trillion wants to “jump,” there are hardly any presidents or prime ministers who would say “no.” In October 2020, BlackRock’s CEO told the Australian government that he wanted them to shut down coal-fired power plants faster. Three weeks later, Scott Morrison and the treasurer signed the commitment to net zero – even though voters had demanded less climate protection and not more of it.
… it was all a big bluff. All of these huge funds use other people’s money to bully and persuade board members, ministers, and global leaders to do things that none of them really want. Instead, it looked as if they were squandering the proceeds to prop up socialist ideologies and questionable corporations, and forcing governments to enact laws that voters did not want.
Larry Fink, the CEO of BlackRock, and his cronies have turned our pension funds into a left-wing activist machine. Fortunately, 19 U.S. states have fought back by raising legal questions about whether these funds are working together in a way that violates antitrust laws and neglects their fiduciary duty.
It is a major setback for the UN and the bankers
GFANZ and the UN banking cartel represented an obscene grab for power. It is an unholy alliance of big money and big government – a construct that looks and feels like the beginning of a global government machine that takes power away from voters to control their energy, investment, pensions and freedoms from Geneva or London.
The psychopaths and conspiring bankers won’t stop intriguing, but this could at least be the beginning of the end for the outrageous, overtly visible part of their plan. Now they have to meet secretly again in Davos on ski trips to forge their selfish goals. They have to make it seem like they are competing with each other, which will slow down their ambitions. They are not allowed to blatantly “determine national policy” or use their clients’ funds against it – at least not visibly.
We don’t need all bankers to get out of this system, but only a few to allow some competition again.
Which banks serve the United Nations?
The UN has made it easy for itself and published a list of member banks that can be searched by country.
In the US, the only major bankers that remain in the NZBA (Net-Zero Banking Alliance) are JPMorgan Chase and Morgan Stanley. The list of US members is otherwise remarkably empty.
In Australia, on the other hand, almost every major bank has joined the United Nations’ “NZBA Club”: ANZ, CommBank, NAB, Westpac, Macquarie and BoQ. Are there any banks that have not joined? Maybe the Bendigo Bank? Check the Wikipedia list of Australian banks. Let us know if you find one that serves Australians more than the UN.
The Bank of New Zealand is also a full-fledged member.
In Canada , the situation is similar: almost every bank is a UN bank, including CIBC, BMO, Coast Capital, NBC, RBC, Scotiabank, TD Bank and Vancity. (Please excuse any errors in the acronyms.)
In the UK, the list of banks is almost endless. Members include Lloyds, Barclays, HSBC, NatWest, PBS, TSB, Standard Chartered and Virgin Money, among others.
A beginning of the end?
While the strict “antitrust” laws with which the Republicans want to intimidate bankers apply in the USA, there are also rules in the rest of the Western world that regulate fiduciary duties and anti-competitive agreements.
Hopefully, this is just the beginning of the end for this grand climate power strategy.