That was the green energy company that received over half a BILLION taxpayer dollars in federal “loan guarantees” from the Obama stimulus plan . . . and then promptly went bankrupt.
Solyndra became the poster child for the failure of Obama’s green energy initiatives.
Well the Federal Reserve may soon turn the whole country into Solyndra.
You see, just a few months ago, the Fed acknowledged that climate change is a “core issue” for them.
And Federal Reserve Chairman Jerome Powell recently said the Fed would make sure climate change did not “destabilize the financial markets.”
Powell said the Fed will “eventually” join a group of central banks from around the world that assesses the risks and potential responses to the “climate change crisis” called the “Network for Greening the Financial System.”
But he gave no specifics on how the Fed planned to “protect” financial markets from climate change.
So, we don’t know if the Fed is planning to launch a “Green” Quantitative Easing by buying assets of green energy companies to give them an edge in the marketplace. . .
. . . or if the Federal Reserve is going to step up its purchases of treasury securities to monetize the costs of the Green New Deal, enabling even more government debt, inflation, and a weaker dollar.
Or maybe they will pressure banks and other financial institutions to stop lending to businesses rumored to “contribute to climate change.”
Maybe the Fed will do all of these things and inflict even more damage on the economy than their easy money, pro-Wall Street/anti-Main Street policies have already done.
We also don’t know why the Fed is considering this since, as Campaign for Liberty Chairman Ron Paul has stated, the science on climate change is far from settled.
In fact, there is plenty of evidence that human action is not causing climate change.
The truth is, we won’t know the details of the Fed’s plans to “save us from climate change” until it’s too late. . .
Unless Congress passes Audit the Fed!
So please call your U.S. Representative at 202-224-3121 and ask him or her to cosponsor The Federal Reserve Transparency Act (H.R. 24).
If your representative is already cosponsoring the bill, thank them and ask that they do everything they can to bring it to the floor for a vote immediately.
And if your representative is not a cosponsor of Audit the Fed, demand they stop the secrecy of the Fed and sign on now!
The Fed’s plans for climate change are not the only thing the Fed is keeping secret from Congress and the American people.
The central bank continues to pump billions a day into the repo markets but refuses to divulge what institutions are receiving the funds or how long the Fed anticipates having to keep this bailout going.
And they won’t say how they intend to respond to some of the unintended consequences of their actions -- most significantly a weakening of the dollar’s value compared to other currencies.
And the only way to get the truth about the Fed’s operations is to pass Audit the Fed!
So please call your U.S. Representative at 202-224-3121 and ask him or her to cosponsor Audit the Fed (H.R. 24).
Audit the Fed is supported by almost 75% of the American people and is supported by politicians from across the political spectrum.
The current Senate leadership and President Trump are on record supporting Audit the Fed.
And Audit the Fed passed the House as an amendment to another bill with Nancy Pelosi as Speaker in the past, which means we can get Audit the Fed passed into law this session!
But you and I MUST keep the pressure on Congress to make it happen.
The first step is to get a majority of the House to cosponsor the bill, which will enable us to force Speaker Pelosi to put the bill on the floor.
The good news is, last year grassroots activists got over 30 cosponsors added to the bill in a very short time. But you and I must continue and increase our efforts.
So please call your U.S. Representative at 202-224-3121 and tell them to cosponsor Audit the Fed.