
The establishment is pulling an elaborate confidence trick by claiming that individual “energy savings” are benefitting the environment because the end result of such savings are an increase in energy use, Exeter British National Party was told at its latest meeting.
Addressing a packed local venue, BNP parliamentary candidate for Exeter Robert Farmer explained that all savings made by individuals in fact led directly to increased energy usage through other means.
“Before we can understand why energy conservation cannot work, we must first understand one very important aspect of the banking system,” Mr Farmer said.
“Banks are able to loan out some ten times the amount of money they hold on deposit. This is called Fractional Reserve Banking,” he said.
“This means that if Joe Soap puts £1000 in the bank, then the bank is now able to issue and collect interest on loans totalling £10,000.”
With that point understood, Mr Farmer went on to explain how individual energy savings increased total energy use.
“Joe Soap lives in a big house and uses lots of energy and has an overall energy bill of £1000 a month. In order to reduce this bill, Joe installs a new, efficient, gas central heating boiler.
“He then changes all his light bulbs to the new energy efficient ones — you know the sort, the ones that glow in the dark.
“He buys a new fridge and freezer, has a ‘smart meter’ installed and is forever turning off lights and other appliances. And all this pays off, for at the end of the month Joe’s energy use has halved and his bill is now just £500,” Mr Farmer said.
“What will Joe now do with the £500 he has saved? The answer to this question will tell us why energy conservation is doomed to fail.
“Like most people, when presented with an extra £500 per month, Joe will more than likely do one of two things: he will either spend the money or he will save it.
“Should he decide to spend it, then he may now go out and buy that new TV set he has been looking at for the bedroom — a TV set that used more energy in its construction than the amount of energy Joe has saved, not to mention the energy the TV set will use during its lifetime and the energy needed to dispose of the set at the end of its lifetime.
“Joe may jet off to Florida and enjoy a holiday in the sun, but in so doing, use far more energy than that saved,” Mr Farmer said.
“As anything and everything Joe may buy will use energy of one kind or another, then whatever Joe spends his money on will result in a greater energy use than that initially saved,” Mr Farmer continued.
“But Joe may not spend the money saved at all; he may just put it into the bank. Surely that must conserve energy?
“Well I’m afraid not. As we saw earlier, banks, under the Fractional Reserve Banking system, are able to loan out ten times the amount of cash held on deposit.
“This means that when Joe puts his saved £500 into the bank, they are able to loan out £5,000 to people – who will then use this money to buy cars, TV sets, foreign holidays et cetera.
“Thus Joe is still accounting for far more energy use now than he did before his conservation effort. It makes no difference whether he spends or saves the money,” Mr Farmer said to laughter and applause.
The meeting also heard from the BNP candidate in Totnes, Mike Turner, who discussed the recent events surrounding the election hustings at the Totnes Community College.
Mr Turner said the college principal eventually cancelled the hustings but the Totnes Civic Centre was offered as an alternative venue which proved more than adequate.
Some 250 people attended the hustings with the BNP alongside the Conservative, Labour, LibDems and Green Parties. Mr Turner ensured that he spoke on all issues discussed including education, local buses and travel, and local hospitals.
The meeting was also addressed by BNP website editor and foreign affairs spokesman Arthur Kemp.
A collection was held in which some £760 was raised for branch election funds.