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Banks are using Your Money to fund the Fossil Fuel Industry
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[ad_1]
Banks are using Your Money to fund the Fossil Fuel Industry
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View Reddit by reddcube – View Source
Filling the gas tank of my car funds the fossil fuel industry.
I don’t care. My money is FDIC guaranteed for up to $250,000. This is nothing new, and this is basically the reason why the stock market crashed in 1929. So nice try with the shock title there, pal.
Guy finally learns what fractional reserve banking is and acts like he’s uncovered an elaborate deception
Also many investment funds (including those that pretend to be ethical) are buying [cash settled derivatives](https://corpgov.law.harvard.edu/2010/09/12/using-cash-settled-derivatives-to-hide-corporate-ownership/) through retail banks and investment banks to hide their ~~ownership~~ **investments** in fossil fuel companies.
The entire financial system is completely corrupt. There should be 100% public transparency on ownership of all companies big and small. Eliminate all of these bullshit schemes used to hide ownership.
And how is this a bad thing? Lol
This is some groundbreaking reporting here. Who knew that banks provide loans to the oil and gas industry?!?!? I for one, am keeping my savings under my mattress.
If you’re in Canada and want to support orgs working on this issue, check out SumofUs and Greenpeace.
humans use banks money to buy drugs
I am also using my money to fund this industry
Couldn’t watch all of that.
Calling fractional reserve banking “shady” because some of it goes to a company he has a beef with is disingenuous. Without FRB everyday people would never be able to get a car loan or a mortgage or a student loan to pay for your environmental studies degree.
This guy is making it sound like your bank is stealing from you and (at least in the case of FRB) it just not
Couldn’t he say the same thing about every bank that gives an auto loan?
Yeah
Jokes on them, I have no money. I’ve been borrowing from my mom who already has no money. She goes without so my kids get what they need.
Good, natural gas needs more money to replace coal and keep food prices down so we don’t starve. This guy doesn’t understand fossil fuels
This channel consistently has some of the sharpest and funniest visual gags.
Jokes on you I barely live paycheck to paycheck so they’re not using my money for anything. The bank is a pitstop on its way to my bills. I can afford health insurance now tho….next up able to afford to use it!
Fuck yes I love Climate Town! 🙂
Copying the ‘what you can do’ section from the video description for ease of access
STUFF YOU CAN DO
1) GET ON SOCIAL MEDIA and let these banks know you’ve had enough.
Write a little note to tell them how you feel. Get creative. But maybe something like: ‘Hey guy, I noticed you’re loaning billions of your customers’ dollars to the fossil fuel industry. I don’t like that. And if you don’t stop right away, I’m taking my money and going home.’
Oh, and FIRE UP THESE HASHTAGS & HANDLES:
> **#DontBankOnIt #StopTheMoneyPipeline #BankingOnClimateChaos #NoMoreDirtyBanks #CustomersForClimateJustice #EarthDay2022 #InvestInOurPlanet #BetterBanking**
> Tag the banks: @Chase @Citi @WellsFargo @BankOfAmerica @MorganStanley @GoldmanSachs
2) If you don’t want your money financing oil & gas companies, SWITCH YOUR BANK.
Look into climate friendly regional banks and credit unions with transparent lending policies, or take a look at options like [Atmos](https://www.joinatmos.com/) that actively finance climate solutions. Be aware of greenwashing, and check out [this article](https://mightydeposits.com/posts/environmentally-friendly-banks) and [this site](https://bankforgood.org) for even more options.
3) PROTEST. LEARN. SIGN THINGS. Get educated & mAkE nOiSe.
Check out the links below, and visit[ his site](https://www.climatetownproductions.com/banking) for more info about petitions, actions, and resources we think are the bees’ knees.
MOVEMENTS & CAMPAIGNS:
* https://www.bankingonclimatechaos.org/
* https://stopthemoneypipeline.com/
* https://stopthemoneypipeline.com/moment-of-truth/
* https://www.nomoredirtybanks.com/
* https://stopthemoneypipeline.com/customers/
* https://www.earthday.org/earth-day-2022/
* https://fossilbanks.org/
* https://www.iccr.org/2022-climate-finance-resolutions
I invest all my money in stocks including oil companies thus oil companies don’t get my money to operate. Actually it’s the opposite. I get money from them. My original investment went to someone’s else pocket.
Man this dude can be so annoying.
Tries to make it look like they’re explicitly only financing oil and gas and that FRB would be a tool *just for that*.
^(also stretches the video with lame repeated jokes, but hey on 1.75x speed it’s almost watchable)
Edit: The end of the video/after the sponsor part is better than the start tbh.