Insurance availability underpins the fiat debt based monetary system.

It supports the value of assets used to secure debt. Without insurance backing many assets (especially built structures) cannot be used to secure finance. Climate change makes natural disaster insurance increasingly difficult to provision as the risks to many assets increase and as the cost of insurance rises the viability of insurance reduces- people either cannot afford or do not want to pay the premiums required to cover the risk. At the same time the assets held by insurers and reinsurers as reserves to cover potentially large claims events may themselves be increasingly themselves exposed to climate change risk. The overall ability to provision insurance is eroded by increasing risk due to climate change.

As insurance becomes less and less viable a tipping point may be reached where the entire fiat debt based monetary system collapses. It certainly increases the stress levels upon it. Since neoliberalism the Wests wealth has increasingly been held in real estate- non productive speculative assets and this is also where an increasing ratio of fiat debt bank finance has been channeled - as the Wests ability to compete in productive sectors has declined.,

This makes the West especially vulnerable to the decline in the viability of natural disaster insurance.

Neoliberal~Libertarians who deny human caused climate change are pushing a narrative that makes more probable the collapse of western financial markets as climate change makes insurance unviable.

The Libertarians who on Stacker News regularly scoff at the reality of climate change will be silent in response to this post and events unfolding in California - and to the analysis that their irrational denial of climate change logically hastens the decline of western hegemony..and the rise of Communist China in its place.