https://www.bloomberg.com/news/articles/2024-12-03/bankers-to-start-including-counterfactuals-in-carbon-accounting
By Jo Nova
What other industry gets paid for what they could have done, but didn’t?
The carbon market is the perfect scam-quasi-tax currency for our banker overlords. They were always trading reductions in an invisible gas, now they’re trading reductions from an imaginary increase that may never have occurred.
Carbon credits were always atmospheric nullities that “might theoretically change the weather”. Now they’re even less real…
It’s a nice gig if you can get it. This elastic game can expand to cover as much of the economy as feasible. The bankers payout is limited only by how much they can squeeze out of their political vassals. Homeowners will not get a “carbon credit” for turning a heater off that they might have left on, or for not-buying a second-hand Dodge Challenger Hellcat. This is a game only the uber rich money-changers can play. The Blob has effectively set up a secondary fiat currency in the world that has a Byzantine web of rules that they control but has no physical products for delivery.
As Steve Milloy says — Coming soon: Unending bank climate fraud Bankers Find Way to Claim Credit for Avoided Emissions By Frances […]
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