News & Analysis
Incredible 'Real' Reason for Carbon Trading?
Critics who think that the U.S. dollar will be replaced by some new global currency are perhaps thinking too small. On the world horizon looms a new global currency that could replace all paper currencies and the economic system upon which they are based. The new currency, simply called Carbon Currency, is designed to support a revolutionary new economic system based on energy (production, and consumption), instead of price. Our current price-based economic system and its related currencies that have supported capitalism, socialism, fascism and communism, is being herded to the slaughterhouse in order to make way for a new carbon-based world. It is plainly evident that the world is laboring under a dying system of price-based economics as evidenced by the rapid decline of paper currencies. The era of fiat (irredeemable paper currency) was introduced in 1971 when President Richard Nixon decoupled the U.S. dollar from gold. Because the dollar-turned-fiat was the world's primary reserve asset, all other currencies eventually followed suit, leaving us today with a global sea of paper that is increasingly undesired, unstable, unusable. The deathly economic state of today's world is a direct reflection of the sum of its sick and dying currencies, but this could soon change. – The August Review (Carbon Currency: A New Beginning for Technocracy?)
Dominant Social Theme: Green is good.
Free-Market Analysis: We tend to analyze articles that appear in the mainstream press but regular readers know that the Bell will make an exception from time to time. And in this case, we have. The paper we have alluded to, (above, excerpted) seems to reveal details about the power elite's REAL agenda as regards global warming and carbon trading. While some of the information alluded to in the article has come out already in serial reports, we think the way the August Review has pulled it together and synthesized the information may be seen as both original and important.
In fact, the mind-blowing report that the Review is presenting today on its website (for the first time anywhere) sounds credible to us, understanding as we think we do, the memes of the power elite and the reason for their promotion. Click here to read Carbon Currency: A New Beginning for Technocracy?
We are not surprised by the quality, generally, of the Review's publications. The August Review is a "global elite research center." The tone of its analysis is often scholarly and its articles – while frank – seem to place a priority on research over opinion. Here's more on the August Review from the site itself:
The August Review is an exclusive Internet-based publication of the editor, Patrick M. Wood, and focuses on the Trilateral Commission, its members and activities. The research "juggernaut" that was created by Wood and Antony Sutton to study the Trilateral Commission has been enhanced using various professional sources now available on the Internet. This editor is committed to performing original and innovative research, as opposed to re-hashing second hand or opinionated writings of other news services or commentators. The August Review also monitors the press for news stories relating to members, policies and meetings of the Trilateral Commission.
The emphasis on making carbon an environmental bogeyman makes sense within a context of power elite promotions. The elite creates fear-based dominant social themes to frighten people into giving up wealth and power to authoritarian solutions that have also not-so-coincidentally been created by the elite. Regulate carbon and you basically have a way to monitor and control people's entire lifestyles, or certainly the part that involves the use of oil, gas, etc. That water vapor is responsible for trapping the majority of greenhouse gases doesn't enter into the equation – because the environmental movement in its later stages is not about reacting to environmental problems but about creating more power and wealth for the handful of families and individuals that create these promotions.
Here's some more from the new August Review white paper:
The modern system of carbon credits was an invention of the Kyoto Protocol and started to gain momentum in 2002 with the establishment of the first domestic economy-wide trading scheme in the U.K. After becoming international law in 2005, the trading market is now predicted to reach $3 trillion by 2020 or earlier.
Graciela Chichilnisky, director of the Columbia Consortium for Risk Management and a designer of the carbon credit text of the Kyoto Protocol, states that the carbon market "is therefore all about cash and trading – but it is also a way to a profitable and greener future." (See Who Needs a Carbon Market?)
Who are the "traders" that provide the open door to all this profit? Currently leading the pack are JPMorgan Chase, Goldman Sachs and Morgan Stanley. ...
Whoever controls the currency also controls the economy and the political structure that goes with it ... Technocracy and energy-based accounting are not idle or theoretical issues. If the global elite intends for Carbon Currency to supplant national currencies, then the world economic and political systems will also be fundamentally changed forever.
Considering the sheer force of global banking giants behind carbon trading, it's no wonder analysts are already predicting that the carbon market will soon dwarf all other commodities trading.
The August Review is a foremost authority on the Trilateral Commission. Here at the Bell we certainly believe that such private groups are damaging to free-enterprise because they inevitably seek to involve government power and to use the force of law for private ends. Such a system is called mercantilism and it is a true curse of modern Western societies.
It is the Bell's contention that the mercantilist destruction wrought by the power elite's dominant social themes has possibly met its match in the 21st century thanks to the Internet. It is the longtime contention of the editors of the Bell (for nearly a decade now in various publishing incarnations) that the Internet has been undermining the entire promotional program of the power elite and that the elite's memes would meet increased resistance as the Internet's influence grew. In fact, we believe this is taking place.
We have utilized the impact of the Gutenberg press on society as a historical reference point when making the case that the power elite will have to take "a step back" as it did before when confronted with the unique challenges of a major communications revolution. In fact, we are not impressed with arguments that because US military agency DARPA invented what became the Internet, the power elite expected and anticipated what the Internet has become. In fact, it was the invention of the floppy disc and personal computer that created the phenomenon of the Internet, and this was the result of private enterprise and could not have been easily anticipated.
The August Review's presentation of "Carbon Currency: A New Beginning for Technocracy?" may be seen, from the above perspective, as a further example of how the Internet is causing headaches for the power elite and its banking and financial instrumentalities. Once a concept is understood and transmitted throughout the Internet, plenty of readers take advantage of the information and elaborate on it in their own way. This will happen, we are confident with the revelations contained in "Carbon Currency: A New Beginning for Technocracy?" (It could thus mark an "end" rather than a new beginning, or certainly slow the momentum.)
Power elite promotions rely on secrecy and a sense of inevitability. But in the case of global warming, the promotion has been greatly damaged. It was the Internet that made possible the exposure of the reprehensible emails that showed a conspiracy to defraud as regard the impacts (and even the existence) of global warming. It was the Internet that provided people with a way to organize against environmental fascism. And now it is the Internet, in our opinion, that is exposing the further scheming that lies at the HEART of the power elite's promotional efforts as regards this horrid dominant social theme.
We are aware of the growing argument among certain observers of the alternative press that the exposure of power elite themes must be part of a larger plan. But if so, why didn't the same phenomenon occur in the 20th century when power elite promotions were at their peak and most powerful? The answer of course is the Internet. Every power elite meme from the war on terror, to global warming and central banking is under powerful attack these days. We can't imagine that this is a desirable outcome from the point of view of those involved with their implementation.
It may be that the power elite will begin "exposing" its own promotions in order to gain some advantage from Internet revelations. But we have difficulty believing that such an exercise will pay sufficient dividends to make up for the current destruction of its dominant social themes, which likely have to be rebuilt from the ground up – once the Internet is tamed (and when will that be?).
As a final aside, we are gratified that in this white paper, the August Review also deals with the fraud of peak oil. We are entirely unsurprised that Technocrat M. King Hubbert and his economically illiterate energy concepts manage to slither into the middle of the story that the August Review has to tell. The idea that the market itself would not (and somehow could not) respond to peak oil with new stores of energy is yet another power elite promotion. (Meme: Only government authorities, including the UN, can properly plan energy replacements!)
Conclusion: The August Review's presentation of the apparent planning and purpose behind the carbon scam is yet a further proof of the power of the Internet in our opinion. Between the emails revealing the conspiracy and the more recent revelations of phony research and false numbers (and the Review's seemingly accurate revelations as to where all this is really headed) we think the global warming meme is under extreme duress. Sure, it may stagger along – that's one of the hallmarks of a power elite promotion (it won't die no matter how many holes are shot into it) – but it's very hard to promote a theme or meme that has been discredited. And boy is it being discredited.
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Posted by Rwfresh on 09/29/10 01:14 PM
This is pretty much, for better or for worse.. a done deal unless an unprecedented world wide revolution takes place. In which case their will be chaos. People don't want chaos.
The exchanges are already in place, CERs are being traded. It's not just carbon, it's all harmful gases (allowances) being traded. The largest companies in the world have been VOLUNTARILY participating in this trading since 2003 in some cases (in North America). Europe's market for these instruments is much more mature.
The dollar will collapse (by design). Fear will push any remaining dollars into gold. Gold bubble will run until it seems the entire world economy is going to TRULY collapse into oblivian. Fear FEAR FEAR. No dollar, No global currency, no gold left to buy because all currencies will be worthless in the shadow of gold. Global carbon backed currency is introduced through UN and everyone will run to it as the only solution. Gold bubble is popped. This is one scenario..
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Posted by Paul Darwen on 08/26/10 07:53 PM
A 1983 science fiction novel by David Gerrold (about aliens called the Chtorr) had energy-backed currency. Following an economic collapse, the U.S. dollar gets replaced with a currency backed by energy instead of gold, denominated in kilocalories and nick-named "KCs". As population and energy sources dwindled, the value of a KC went up and prices went down.
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Posted by Andrew McKillop on 03/03/10 04:46 AM
Once again you confuse reality with unreality. In this case you confuse the absurd theory of runaway Global Warming, with what you call the "fraud" of Peak Oil.
The wanton exaggeration of Global Warming hysterics like Al Gore is very evidently part of the action by power elites to pave the way forward to a global Carbon Currency. Peak Oil concerns the geological depletion of non-renewable fossil mineral reserves, but to be sure is focused by the same mediatic pressure to exaggerate and distort, to amuse or frighten the public. Global Warming is at best a "junk science", but Peak Oil is based on the study of rigorous geological processes.
We can say Global Warming is at least 75 bullshit, but Peak Oil is at most 25 bullshit.
It will not be possible to raise world oil production much above present levels - possibly by 10 but not more; oil production will soon start to decline. The decline may be faster if producer countries decide not to deplete their national reserves in the shortest possible time in return for increasingly worthless and unstable paper currencies.
This brings us back to Carbon Currency. The power elites of course do not want to mention Peak Oil as the real reason for their desperate attempt to frighten public opinion into accepting Carbon Money, but recent weeks have shown this is beginning to change. The power elites now whine about high oil prices as another reason, with Global Warming, for why the public must accept Carbon Money
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Posted by MetaCynic on 01/30/10 04:12 PM
Let's also not fail to point out that Al Gore, the patron saint of Global Warming and a partner in a carbon trading company, stands to become a billionaire if global Cap and Trade becomes a reality.
It seems to me that carbon credit certificates are similar to taxicab medallions. Both are designed to artificially restrict supply in order to raise prices and transfer wealth from the many to the politically connected few. In both examples the "asset" is intrinsically worthless and must depend on the gun of the state to levitate its price above zero.
As for the Peak Oil meme, probes have documented that Titan, a moon of Saturn, is awash with oceans of methane - a fossil fuel. Since no one is arguing for ancient life forms on Titan, the logical origin for this methane must be abiotic. If on Titan then why not on Earth?
With the rapid industrialization of Asia, even if Earth's oil and natural gas are abiotically produced, have we depleted the reserves faster than they can be naturally replenished? Since most oil and natural gas comes from state owned enterprises, the tendency is to deplete reserves faster than privately owned businesses would.
This would artificially depress energy prices, encourage excess consumption and discourage conservation and the development of alternative energy. Of course free markets are vastly superior to centrally planned economies in innovation and productivity. However even a totally free market in energy may not save us if oil production, for example, suddenly hits a wall and prices soar because state producers recklessly depleted their reserves.
There simply may not be enough time and capital to bring alternative energy to market on the very large scale needed to fuel our civilization. Could America's oil guzzling, suburban sprawl lifestyle and non-organic factory farming system survive the sudden passing of today's cheap oil and natural gas?
Can the heavy industry necessary to manufacture alternative energy's infrastructure and components itself run on solar, hydrogen and wind energy? Even if huge new carbon based energy reserves are discovered, they may be so inaccessible that more than a BTUH of energy would be expended to extract each new BTUH of energy. In that case extraction would not be economical no matter high energy costs go.
Reply from The Daily Bell
Great point about Titan!
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Posted by Bill Ross on 01/27/10 12:20 PM
"your vision" I counter that it is not a "vision", but an alternate proof that freedom (except to be a predator) is the only viable social / economic method of organization. Bell attacks the problem from a detailed analysis of history / economics and great thinkers, which I have also done and concluded: proof too complex, beyond the average intellect.
Knowledge in this area highly subverted and misrepresented.So, given the knowledge that truth survives scrutiny from all logically consistent / rational perspectives, I searched for an alternate, simpler, more difficult to subvert proof, which you call "vision".
We are not disagreeing. Freedom is the only way to peacefully socially / economically organize or to progress (adapt to excellence) as a species and civilization.
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Posted by Bill Ross on 01/26/10 07:25 PM
"who is to "insist?"
I do, with respect to what I will tolerate. Works for me. I do not advocate imposing anything on anybody. You can choose the same, since it is in your interests. In fact, you already adhere to the "Social Contract" with your voluntary associations. The problem is, your "Involuntary Associations":
http://www.cli.gs./SocialContract For those who are not aware of the delightful work of Libertarian fiction, the "Great Explosion" by Eric Frank Russell, highly recommend. Amusement crescendo of statist (hierarchical) versus lateral thinkers starts in Chapter 7
:Click to view link
This about a planet of Gands (From Ghandi) whose motto is F-IW (Freedom - I Won't) who respond to orders with: "make me" and busybodies with MYOB (Mind Your Own Business) and make an overwhelmingly powerful ship of statists flee before their entire crew is subverted by freedom.
The message is, without cowardly complicity, power has no power. This is how Gandhi evicted the Brits from India and is the only way that statists can be brought down - by refusing to associate or lending our power for their endeavors. If you violently oppose, well, that will be used as evidence to collect more power for your demise.In fact, I would recommend that Bell link to this book in the eBook section.
Reply from The Daily Bell
Again, Bill, despite the brilliance of your formulations, no matter how you insist, people together or separately will have to make an affirmative decision to participate in the theology you suggest. And in the real word, people, even in the freest circumstances, are constrained by culture, tribal ties and other arrangements that will tend to vitiate the pureness of such a solution.
It seems to us simpler to advocate a market-based process in all things, including justice and urge - through education and persuasive communication - that people to move in that direction. There is certainly a genuine use for your vision (paralleling as it does a free-market perspective) but the world is an imperfect place. We would settle gladly for half-of-loaf, for the moment, considering what we've got now.
We do agree with you that non-violent protest is perhaps the most effective tool available if enough participate over a long enough time period.
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Posted by Shawn on 01/26/10 06:11 PM
This is another obvious plot that is been dismantled by the Internet. There has been a lot invested in this meme and as the Bell has said, it won't die easily, but I think its throat is about to be cut, then it will have to die.
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Posted by Bill Ross on 01/26/10 05:14 PM
"religion is destructive when coupled to the power of the state"
That is because it takes religious belief from voluntary, with a requirement to compete (and therefore have merit) to compulsive, with no merit requirement, a rationalization source for power. Like the marriage of sovereign and religion leading to "divine rights of kings" which should be left in the dustbin of history.What is really required is insistence on the "Social Contract", the self-organizing principle of the civilized:http://www.cli.gs/SocialContract
Reply from The Daily Bell
Yet once again, Bill, who is to "insist?"
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Posted by Mark Y on 01/26/10 04:39 PM
Interesting that you state that religion is destructive when coupled to the power of the state. The Book of Revelation describes the greatest "power elite" meme that will ever occur when the False Church joins with the power of the state headed by the "Antichrist" (substitute deliverer) to bring in the ultimate totalitarian world government - all in the name of peace and prosperity for mankind. But then, as the "all seeing" Daily Bell, you already knew that, didn't you?
Reply from The Daily Bell
Thanks, Mark. The Bible, as we wrote previously, is an amalgamation of a certain kind of human wisdom, and we are not at all surprised by the passage you are presenting. Or what we consider to be its truthfulness.
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Posted by Bernie D. on 01/26/10 01:57 PM
great article!
Kind of what I had suspected all along.fortunately the "scientific" underpinnings of carbon trading(AGW)are crumbling rapidly with almost daily revelations of data manipulations,moving/deleting thermometers to produce an artificial warming trend etc.
Hopefully, now that some mainstream media have picked up on this,people in the west will demand an end to the carbon trading scam as it only is just another outrageous instrument of wealth transfer.
By the way,there is an interesting hypothesis re:oil that is not generally accepted by mainstream scientific"consensus"---sound familiar?
It proposes abiotic origin of oil deep(100k)in the earth's mantle from carbonate,iron oxide and water,all of which are very abundant.
Click to view link
Reply from The Daily Bell
All credit to the August Review.
FYI ... We have been writing about abiotic oil for nearly a decade now in various 'Net incarnations.
See, recently ...
Click to view link
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Posted by Mark on 01/26/10 01:48 PM
Talk about the ultimate fiat currency! We're essentially buying and selling air.
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Posted by David E on 01/26/10 01:12 PM
One can clearly see this as an authoritarian agenda with an Orwellian twist. I remember of a kid the stories of "certificates" and bread lines in the communist block. Obviously the inefficiency of options in trade-based systems will cause productivity to go down and open up new markets for options trading, enhancing the "wealth" of the elite.
If you think about it for a minute, technology aside, a carbon based system will put northern climates at a distinct disadvantage in this new system as they would be primary producers. If you look at where much of global production comes from, it is from the northern climates.
So this will probably cause forced migrations of populations and crater the industrialized world, and cause a whole new slew of wars over land. Great idea. As for third world countries that can't compete technologically, their borders will be ripe for the taking.
Reply from The Daily Bell
The ramifications are seemingly endless ...
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Posted by Howard Roark on 01/26/10 12:26 PM
Your website is such a great wealth of knowledge for the reality of what is really happening in the world. Unfortunately every once in a while you fall for the power elite's greatest meme: religion. Please consider that you are falling for the greatest scam in the history of the world.
Reply from The Daily Bell
Sir, we have received this sort of feedback before, and we will repeat, with some elaboration, our previous response. (We think it to be an important point - though Lord knows there are many important points to be made in this weary world.)
Anyway ... there is NOTHING we find objectionable about spirituality of any sort DIVORCED from state coercion. We cannot conceive of infinity, can we? Who can say for certain if there is or is not a God?
Anyway, it is not a power-elite promotion as we would define it unless it involves the power of the state itself. The Roman Catholic Church of hundreds of years ago was objectionable in our view because it was an admixture of theology and state power. Today's Church, in our view, is less objectionable because there is less intermingling (certainly overt) between church and state.
Power-elite dominant social themes ALWAYS involve mercantilism at the highest level - and seek the active involvement of the state to turn opinion into law. Lacking state coercion, a dominant social theme is hardly actionable. It is, then, merely an opinion to which one can subscribe or not as he or she chooses. Seen from this point of view, the DOMESTIC religious aspect of the power-elite thematic, is dysfunctional if not defunct.
It is certainly worth noting, however, that the power elite has cleverly manipulated the Muslim religion, and that is why the war on terror is from our point of view an obvious dominant social theme or promotion.
"Radical Islam exists and is evil" is no longer an opinion because the power of the state has been been brought into play to act upon the meme. There are wars being fought as a result of this promotion, using Anglo-American tax dollars - and citizens have no choice in the matter. State coercion is alive and well as regards this meme.
So ... seen from this point of view, the Daily Bell does not deny power-elite manipulations of religion - we would simply propose this particular promotion has gone global.
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Posted by Lance E. Schultz on 01/26/10 11:42 AM
Ephesians10
Finally, my brethren, be strong in the Lord, and in the power of his might.
11 Put on the whole armor of God, that ye may be able to stand against the wiles of the devil.
12 For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
13 Wherefore take unto you the whole armor of God, that ye may be able to withstand in the evil day, and having done all, to stand.
Reply from The Daily Bell
Yes, the Bible is truly a compendium of certain wisdom.
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Posted by Bill Ross on 01/26/10 11:32 AM
MSM appears to be focusing inordinately on Haiti (an opportunity for states to prove how caring thy are, and, what is appearing to be a US colonial exercise) and irrelevancies while studiously avoiding AGW, a totally failed social meme (aka: fraud).
The "SOME THINK" appears to be the beginning of AGW backpedaling while MSM searches (in vain) to find a scapegoat for AGW so they can position themselves as fraud victims. Fat chance.
It is only a (short) matter of time before elites conclude that their MSM investments are not paying off in terms of "maintaining the fraudulent public consensus" and MSM will be dumped, like all tools which have outlived their usefulness. It is inevitable that MSM (and their new owners) conclude that their survival depends on "the truth, the whole truth and nothing but the truth".
I think the time is past when any grand social consensus can be achieved on any matter except freedom, "the right to be left alone" and "resistance to command / controllers and tyrants".
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Posted by John F on 01/26/10 10:35 AM
Just to provide a bit of encouragement on the push-back to global warming front, this link to the Indianapolis Business Journal. Not a large publication, but mainstream all the same. The article talks about T. Boone Pickins' plan as it may impact the trucking industry, but that's irrelevent. You have to read carefully to catch the important part, this quote:
"Pickens wants buses and trucks that run on natural gas to replace the diesel and gasoline engines that some think contribute to global warming..." That SOME THINK contribute to global warming? When did the mainstream press ever doubt the meme? The cracks are showing when the printed word offers even the possibility of doubt. Enjoy:
Click to view link
Reply from The Daily Bell
Nice catch. Thanks for the link. Power elite promotions face difficulties in the era of the Internet.
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Posted by Bill Ross on 01/26/10 08:13 AM
Currency used to be a measure of stored productivity (wealth), a measure of productivity achieved by a producer and a call on the productivity of other producers. Now, it is fiat and signifies nothing real except debt. Currency holders may now be of the following classes: productive, criminal, counterfeiters. Currency has lost its information value which used to be: who has produced and therefore has a claim on the productive. Or, information regarding who is a contributor to civilization and who is not (honest versus criminal).
Currency is also the great coercer. If wealth is held by the productive, they will coerce towards productive values (honesty, property rights, excellence...). If wealth is held by criminals, they will coerce towards criminal values (unaccountability, fraud, predatory, chaos...).
Currency, like everything else obeys the laws of supply and demand. The more there is (printed). the less it is worth. The less it is trusted, the less it is demanded.Unless a currency is based on something REAL, finite and in demand, as opposed to decree and trust, it is just a wealth grab, as carbon credits appear to be.
Surely our elites KNOW that fraud and disincentives to the productive collapses commerce and civilization. This is easily proven:http://www.cli.gs/MathematicsOfRuleAnd yet, they persist with their schemes. Therefore, a sound economy and peace is NOT their end game. Since their actions result in the destruction of civilization, it can only be concluded this is the goal.
Money is irrelevant to those who can print as much as they want. It appears Luddites and Malthusians are in control. They appear to want far fewer of us (collapse our civilization which provides survival, destroy the values of cooperation and social organization, trick us into blaming and killing each other). They also appear to want to restore feudalism.
The maddening part is that we are being manipulated to do it to ourselves. Elites seem to have concluded we are unfit to survive, useless eaters.
http://www.cli.gs/DarwinReconsidered
Are they right? Stay tuned...
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Posted by Allen on 01/26/10 06:43 AM
Thank you guys for your articles. Ive been getting your newsletter for a while now and it is one of the ones I always read. Great insights! Keep up the good work! Allen
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Posted by Patrick McDonald on 01/26/10 05:51 AM
Energy translates into value which is interpreted into carbon credits. A carbon tax is applied to the user producing the carbon foot print. Some political folks in the know have carbon credit bonds and may have acquired them for their own children. Carbon credits are trade commodities.
The more carbon credits you have; the wealthier or more comfortable your life may be. In past history salt food water were more valuable than gold. Tonnes of Tsarist gold could not prevent Russia from imploding into a bloody revolution. Money is power. One wonders if carbon credits are a sufficient currency to replace or adapt to the power of gold.
Click to view link
Reply from The Daily Bell
And yet it would be a meaningless currency without any intrinsic value.
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Posted by Alan on 01/26/10 03:42 AM
Great article and links to the fraud of carbon trading. How unamazing the usual suspects in fantasy finance: JPMorgan Chase, Goldman Sachs and Morgan Stanley!
A market of $3 trillion a year by 2020? At the rate the central bankers and friends are going that will hardly buy a coffee. It is becoming very apt that these scammers are being likened as to financial power vampires.
Real (in folklore) vampires hide from the light of day and you can shoot them full of holes without them suffering any discomfort. The only solution: the light of day and a stake through the heart, long may the internet be that light and the written word that stake!
