Sub-prime carbon is coming
Behind the scenes, large financial houses are moving in stealthily. In 2008, carbon trading worldwide reached $126 billion and is projected to grow to become a $2-$10 trillion dollar market, or “The largest commodity traded world wide”. The largest. That’s bigger than oil, coal, gas, or iron.
Banks want us to trade carbon
JP Morgan, Morgan Stanley, Citigroup, BNP Paribas, Barclays, Deutsche Bank, Citigroup, Credit Suisse are just a few financial houses calling for emissions trading schemes. (None of them seem to be calling for a tax?) Those who broker the trades are guaranteed to make money.
Journalists who repeat IPCC press releases without investigation are unwittingly acting as unpaid agents for large financial players.
This “free market” is not free, and is not based on a commodity, but on unverifiable, unauditable permits for actions that depend on “motivations”. They are issued to companies to build clean factories they would otherwise not have built (who can tell?). The top two auditors in Europe have both been suspended in the last 12 months. Carbon permits have no value other than by government decree. It’s another fiat currency to be exploited by financial institutions.
Bankers benefit — you pay
The potential for fraud and corruption is limited only by what the voting public will put up with (and what they are aware of). Once this legislation is in place it will be impossible to unwind without major compensation claims. Big bankers win either way.
It sucks wealth from those who produce real goods.
* Gun? What gun? Try not paying your carbon taxes and say “hello” to four grey walls.
Sources: Carbon Trading, World Bank Report.
Predictions: Commodities and Futures Trading Commission (CFTC) USA.
TURN THE PAGES (Links will become active as pages are published)
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This is page 5 of The Skeptics Handbook II, a 20 page PDF.
This is the html version of The Skeptics Handbook II. Posted here for discussion, feedback and for wider reading. With the links, sources and a few extra graphs and notes not available in the PDF.
The short killer summary: The Skeptics Handbook. The most deadly point: The Missing Hot Spot.
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Posted on
December 1st, 2009 under
AGW socio-political • Tags: Bankers, Climate Money, Money.
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December 1st, 2009 at 5:47 am
Joanne,
Thanks for the “continuing” saga of this HUGE befogle!!! Since “Money Talks” the power to stop this is either Revolution or the Politicians stopping this thing in it’s tracks! Lionell is correct in His latest statements..I wholeheartedly agree with you, Lionell…
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December 1st, 2009 at 7:56 am
[...] Copenhagen is a complete waste of time and waste of money, and needs to be stopped before green sub-prime becomes even [...]
Hot debate. What do you think?
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December 1st, 2009 at 8:33 am
“Warmist’s” idea of reasonable exchange of ideas.
http://www.youtube.com/watch?v=wIl2gdDtbCg
Need one say more?
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December 1st, 2009 at 8:54 am
Its always about the money trail
Quote “Stop the Copenhagen cult. Copenhagen is just another junket for the green bureaucrats, the likes of whom wined and dined in Bali – all at taxpayers expense and hypocritically in the process created the carbon footprint of a small country”
http://www.twawki.com
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December 1st, 2009 at 9:02 am
[...] Also Related [...]
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December 1st, 2009 at 9:25 am
The Australian ETS is dead – Abbot winds Liberal party leadship!
Well-loved. Like or Dislike:
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December 1st, 2009 at 9:27 am
Climate Dementors on ABC unleashed
Climate Dementors are not only determined to scare us witless about an imagined impending climate catastrophe, they also want to suck all the joy and happiness out of our lives in the process.
http://www.abc.net.au/unleashed/stories/s2747744.htm
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December 1st, 2009 at 9:28 am
Sorry – source….
http://www.smh.com.au/national/shock-result-as-abbott-wins-liberal-leadership-by-one-vote-20091201-k1uz.html
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December 1st, 2009 at 9:54 am
Woohoo great news – Tony Abbott, climate skeptic new leader of the opposition in Australia.
http://www.twawki.com
Posted congratulations to Tony in the MSM – doubt whether they will publish them!
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December 1st, 2009 at 9:59 am
Hi All,
This video on youtube is coming along really well. I like how it is just introducing who the people are and what their emails said (verbatim).
Nice, Clear, let’s the facts speak for themselves.
The ending bit is particularly good. If only they could put in the source code as well to move from the intent into the actions…
http://www.youtube.com/watch?v=Cu_ok37HDuE&feature=player_embedded
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December 1st, 2009 at 10:14 am
There’s an article in the UK Guardian today, in which George Monbiot (pronounced “Moon-bat”) proclaims Canada to be a “corrupt petro-state”.
Must be the heat getting to this envirotard’s brain.
Have you seen the latest “green” advertising campaign from Europe?
Pretty grim…and utterly tasteless.
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December 1st, 2009 at 10:23 am
Liberal senators who still support the ETS
ACT senator Gary Humphries, senator.humphries@aph.gov.au,
Marise Payne of NSW, senator.payne@aph.gov.au,
Queenslanders Sue Boyce, senator.sue.boyce@aph.gov.au,
George Brandis, senator.brandis@aph.gov.au,
South Australian Simon Birmingham, senator.birmingham@aph.gov.au,
Victorians Michael Ronaldson, senator.ronaldson@aph.gov.au,
Judith Troeth, senator.troeth@aph.gov.au
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December 1st, 2009 at 11:21 am
And here in New Zealand the producers of real goods are demonised by the Green elite. Our farmers (arguably the most productive in the world) are constantly under a barrage that they are “gross emitters”. Meanwhile those who berate them travel off to their beach houses or overseas holiday destinations belching CO2 along the way. When they are at work, producing whatever non-essential goods or services they do, their CO2 by-products are not considered unnecessary.
There’s huge hypocrisy in this. And under an ETS those who produce tangible, life sustaining goods are going to end up as a peasant underclass.
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December 1st, 2009 at 12:28 pm
With Tony Abbott as leader of the Opposition, the Liberal Coalition has a real chance of winning this coming election on economic grounds, while at the same time undermining the AGW Hypothesis by allowing skeptical evidence of that flawed hypothesis to be announced in Parliament…. The mainstream media will have to report on it… The average person will soak up the debating points, the catastrophism will diminish… AGW will die as a policy issue.
It will be an interestin’ year coming up:-)
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December 1st, 2009 at 12:54 pm
Joanne and to all here….Congratulations for all the hard work you all have done…the extra posting, the notifing Friends, Family and your Politicians….Great Job!!! Here in the U.S., we have to do the same but I’m not getting my hopes up since the Democrats have a majority here…There are some Democrats that are on the fence because of the Job situation which isn’t good here overall…Job well done, People!!! Pray for all who Need to be Led out of Bondage!!!
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December 1st, 2009 at 1:52 pm
http://www.youtube.com/watch?v=mvqCXfmTkFo
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December 1st, 2009 at 2:50 pm
Just to let you all know, Australia’s awesome political developments are making headlines at Blogging Tories here in Canada.
Many of us are now hoping that, if Climategate was the first domino to tip, Australians rejecting ETS will up the momentum.
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December 1st, 2009 at 3:13 pm
Here’s the latest from Prof. Richard S. Lindzen from M.I.T.. The Climate Science Isn’t Settled http://www.globalwarminghoax.com/e107_plugins/forum/forum_viewtopic.php?1335.last
An excellent article!!! Must read!!
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December 1st, 2009 at 3:16 pm
Hey, does anyone know if Australia will be going to Copenhagen after what has happened!!! I hope they do and spread the truth about ETS and/or Cap & Trade….The U.S. needs all the help it can receive!!
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December 1st, 2009 at 4:11 pm
Sowing the seeds of the grapes of wrath…NY post: “the global warning song” ensuring future generations are singing from the same sheet. Vision of thousands of kids waving a little green book as the krudd crony calvalcade rolls in to announce it`s latest heroic deed….
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December 1st, 2009 at 4:13 pm
To Jo, thanks for your efforts. I so often read your brilliant writing and feel it should be out there in the MSM.
Our emails to Lib MP’s and Senators I think helped. So I’d also like to thank my fellow emailers! We done good!
Lastly, we need to be patient with Tony. He has to play down his scepticism (which he did brilliantly today) and let climategate run its course. The time will come when he will be able to “let it out”.
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December 1st, 2009 at 4:54 pm
Hold the celebrations the ETS is not dead yet. Liberal senators could still cross the floor and vote with Labor. Keep the emails going to the Liberal senators most likely to support this legislation.
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December 1st, 2009 at 8:35 pm
Just sent an ever so slightly terse email to Senator Marise Payne reminding her who her constituency is.
Damn it! Why should we grovel to her, we pay her salary. She’s always struck me as someone who would be more comfortable in the Labor Party.
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December 2nd, 2009 at 2:12 pm
[...] This post was mentioned on Twitter by Free Iran!, spot_the_dog . spot_the_dog said: Warning: Sub-prime carbon is coming http://j.mp/7ALrfw Investing trillions in hot air: what could go wrong? #tcot [...]
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December 2nd, 2009 at 6:05 pm
[...] Sub-prime carbon is coming « JoNova [...]
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December 3rd, 2009 at 8:38 am
[...] “Behind the scenes, large financial houses are moving in stealthily. In 2008, carbon trading worldwide reached $126 billion and is projected to grow to become a $2-$10 trillion dollar market, or ‘The largest commodity traded world wide.’ The largest. That’s bigger than oil, coal, gas, or iron,” says Joanne Nova. [...]
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December 3rd, 2009 at 2:41 pm
“Journalists who repeat IPCC press releases without investigation are unwittingly acting as unpaid agents for large financial players.”
I am not so sure about the “unwitting” part in many cases. I wonder how many of them have invested in the ‘green’ scheme. [One investment newsletter has been relentlessly proclaiming 'cap and trade' investments of the "biggest transfer of wealth in our lifetimes."
On the anniversary of Michael Crichton's death [Nov. 4th], Charlie Rose interview [again] Al Gore who was promoting his new book. At the beginning of the broadcast he disclosed that he and ‘Al’ had some sort of joint business interests.
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December 4th, 2009 at 6:29 pm
Invest now before all is lost!!!!
If you can’t beat the CT idiots, join them! As the low level mud dwellers on the foodchain WE will be paying for this foolishness.
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December 7th, 2009 at 2:15 pm
Mal T just posted on twitter that he will cross the floor next year and vote with Labor when the ETS is retabled. Not surprising though. M T originally attempted (and failed) to gain a seat with Labor. The Liberals were his second choice and you can see where his loyalty still lays (the reason for such a weak opposition during his watch?).
Further, being a merchant banker, he has a personal vested interest. He stands to make a lot of money in trading the Carbon Credits so why would he oppose it. He know which side of his bread is buttered.
voice your opinion
His electoral office details are:
Malcolm.Turnbull.MP@aph.gov.au
Phone: 02 93273988
Fax 02 93272533
Post PO Box 545 Edgcliff NSW 2027
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January 10th, 2010 at 10:05 pm
[...] and in some markets amounted to 90% of the volume. No wonder the carbon market has stalled. As I have said before, there is no natural limit on a market that trades on promises, intentions, or motivations. It’s [...]
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