Central Banks Can’t Print Energy
March 12, 2021 by Robert
Analyst Gail Tverberg has done an excellent job of explaining that it’s not just the availability of energy that matters, it’s the affordability of that energy to the bottom 90% of consumers.
The following is from The Myths of Green Energy by Charles Hugh Smith:
Central Banks Can’t Print Energy
Again, “money†is nothing but a claim on future energy, because energy is the foundation of the global economy. Without energy, we’re all stranded in the desert and all our “money†is worthless because it can no longer buy what we need to live.
Central banks can print infinite amounts of currency but they can’t print energy, and so all central banks can do is add zeroes to the currency. They can’t make energy more affordable, or guarantee that a day’s labor will buy more than a fraction of the energy that labor can buy today.
https://www.iceagenow.info/central-banks-cant-print-energy/
