Ann Pettifor

It's a sort of Islington by the sea place.

Properties for 1.2 million.

Nothing.

Insurance companies aren't going to go to the coastal properties that people have bought.

And we saw that most vividly in Los Angeles.

And the problem is that when the insurance industry withdraws, the mortgage companies have to withdraw because you can't get a mortgage without insurance.

And so this is a kind of disaster coming towards us, which we don't want to think about.

And then we say, sorry, there's nothing we can do about this.

There's nothing we can do about the climate.

Because you know what, Nish?

There is no money in the bank.

And this is what drives me utterly wild, that our politicians go around saying there is no money.

And we all know that when the great financial crisis came, suddenly there was a lot of money.

When COVID broke, suddenly there was a load of money.

Who got it?

The rich got that money, basically, mainly because they have the power to move their capital abroad.

And the point is that our monetary system, and I try to make this case in the book, is a great civilizational advance.

It's something that we invented to enable us to do what we can do.

And we can do something about the climate.

And we can make the money system work for us.