Author: sansukong

Subprime carbon is coming [Copy link] 中文

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Post time 2013-2-23 01:34:11 |Display all floors

RE: Subprime carbon is coming


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US stiffen opposition to European carbon emissions rulingExcerpt:

US Senate lawmakers and the Obama administration have stiffened their opposition to a European law that targets emissions from commercial jetliners and applied new pressure on Brussels and the United Nations to resolve global concerns.

http://www.telegraph.co.uk/news/worldnews/europe/9315637/US-stiffen-opposition-to-European-carbon-emissions-ruling.html

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Post time 2013-2-23 09:14:25 |Display all floors
sansukong Post time: 2013-2-23 01:34
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US stiffen opposition to European carbon emissions rulingExcerpt:

Good that you high light this.
You should do this more often because even the Obama Administration is not perfect.
Not perfect because too many rat interests in America.
I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2013-2-24 02:31:10 |Display all floors

RE: Subprime carbon is coming

This post was edited by sansukong at 2013-2-24 08:59

NZ Emissions Trading Scheme More Or Less Dead
  • Date: 12/02/13
  • University of Canterbury

    New Zealand’s greenhouse gas emissions trading scheme (ETS) is more or less dead, according to a University of Canterbury (UC) forestry professor.  New Zealand has allowed unrestricted imports of credits, including many hot air credits from eastern Europe, meaning New Zealand has become a dumping ground for worthless credits from elsewhere, Associate Professor Euan Mason [...]



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Post time 2013-2-24 09:49:12 |Display all floors
seneca Post time: 2013-2-24 07:03
Just what we needed to prove that Sans Souci often works hands in glove with U.S: right-wing maver ...

The rat is a merger between a brainless cut and paste machine from American right wing nuts

And a nasty typing machine

There is no credit for trading rats.

I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2013-2-24 11:29:38 |Display all floors
Carbon credits: another corrupt currency?

Carbon credits are a form of fiat currency, yet as calls for carbon trading grow, ironically, another fiat currency collapses—destroying life savings, wiping out

jobs, and taking down historic institutions overnight.


“Just because other currencies have failed and wreaked havoc doesn’t prove that a carbon currency won’t work. It’s possible that for the first time in human history,we might get the regulation right, enforce the accounting, and fix the legal loopholes. But if most of the leading democratic sovereign nations can’t keep their own currencies from imploding, what
chance is there for an international currency that buys and sells theoretical atmospheric nullities in the third world?The US dollar is imploding. This is the real hockey stick graph.

                                                                                                                                                                              

Money base US dollar Jan 2009

Helicopter Ben is at work As far as the currency goes, once or twice a century our monetary system breaks. To get an idea of the scale of the current crisis look at the Federal Reserve Bank graph (above) of the monetary base. It’s a graph to take your breath away.
The financial crisis meets the carbon scam. Hoping for a happy outcome is no reason to risk hand-feeding financial sharks. I’ve put together a paper for the SPPI:

  • why carbon credits, like any fiat currency, will almost inevitably lead to fraud and corruption
  • how the current US economy is so sick it’s on life support
  • how the derivative bomb could take down our financial system
  • why the same speculators behind the debacle in our currencies and banks want to play in the carbon casino


Summary for Policy Makers
Fiat money has a long history of failure, corruption and fraud. The inevitable booms, busts and inflation act as an invisible tax, transferring wealth from people who work and save to speculators, middle men, and crooks. The US dollar—sovereign issue of a great capitalist, democratic nation—is on life support. So far at least eight hundred billion dollars has been created from thin air to stop the banking system from crashing.
Meanwhile, global warming alarmists are asking us to create another fiat currency, this time based on hot air. Large multinational conglomerates are already pouring billions into exchanges and derivatives in anticipation of carbon trading. There are ‘options’ to buy credits in the future.There’s no longer any evidence that carbon matters much to our climate; and in the unlikely event that carbon might matter, the benefits of trading carbon don’t add up. If the US adopted Obama’s strict 80% reduction in emissions tomorrow, thus transforming the main energy source used by Americans since Columbus, the savings in carbon merely delay the claimed warmer-Armageddon by six years.Currencies based on nothing are powerful tools that have reshaped civilizations. But they draw out the darkest elements of human nature. We open this Pandora’s Box with trepidation. Is the risk worth the benefit?                                                                                     The full text is here, and the pdf is here on the SPPI site.                                                                                                                    This is the page to comment on the paper.



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Post time 2013-2-24 12:29:32 |Display all floors
sansukong Post time: 2013-2-24 11:29
Carbon credits: another corrupt currency?
Carbon credits are a form of fiat currency, ye ...

Is that supposed to show no climate change?
I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2013-2-24 17:14:49 |Display all floors

RE: Subprime carbon is coming

This post was edited by sansukong at 2013-2-24 16:55
sansukong Post time: 2013-2-23 00:34
Related Article:

US stiffen opposition to European carbon emissions rulingExcerpt:

THERE’S NO CHANCE USA SIGNING UP TO CLIMATE DEAL                                         
Date: 30/11/12              Ed King, RTCC News

US climate change negotiator Jonathan Pershing says there is no chance of the USA signing up to a climate deal that requires the country to make substantial cuts in its emissions.The Times of India has obtained a transcript from a closed meeting with NGOs Pershing attended in Doha on Wednesday evening, where he outlined the USA’s ‘red lines’ when it comes to negotiations on a 2015 climate treaty.In particular he takes issue with proposals for atmospheric quantities of CO2 to be ‘equitably’ divided among the world’s states, arguing that it would leave the US having to commit economic suicide.“It’s a vision you can say that the atmosphere can take an X quantity of coal emissions and therefore what you do is you divide that number into percentage,” he said.“The obligation it states is that you (the US) would have to reduce its emissions down to negative 37% (below 1990 levels).“And the obligation of China will be a tiny bit, but India can still grow quite a lot. The politics of that quite frankly really don’t work. I can’t really sell that to the US Congress.“One way to think about it is what you could deliver. You say what you are going to do and you will be held to that. So how do you marry the reality of what you are doing with the reality of what is needed. To me, it’s going to be a hybrid. It’s going to be something between those two.“If we can’t take it home and sell it at home, in whatever political economy we are living in, we won’t do it.”While the comments come as little surprise to observers who have followed the USA for many years, they do emphasise the challenge that negotiators will face as they dig into the detail of a 2015 binding agreement.US President Barack Obama has already said he will only take actions that will boost US jobs: “if the message is somehow we’re going to ignore jobs and growth simply to address climate change, I don’t think anybody’s going to go for that. I won’t go for that,” he said.

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