Skip to comments.The smell of money ( Carbon Trading and the Money behind the Global Warming Hoax )
Posted on 05/03/2010 1:51:14 PM PDT by Ernest_at_the_Beach
Thanks to Glenn Beck, we get bit more insight into the tangled web that The House of Global Warming was built on.
Who would have thought? Goldman Sachs has been working hard to save the environment for years.
Generation Investment Management (GIM) was founded by Al Gore, and a few friends, which included David Blood (former Goldman executive), Mark Ferguson (Goldman) and Peter Harris (Goldman). They are the fifth largest shareholder in the Chicago Climate Exchange (CCX). Then in 2006, when the CCX needed some extra funding, who should step up to buy 10% of the company Goldman Sachs.
CCX is an exchange that wont be doing a heck of a lot if carbon trading doesnt become mandatory. All of these players have a vested interest in Cap N Trade legislation.
But its not just Goldman Sachs getting in on the deal to make money out of the trading-scheme-based-on-thin-air.
In 2001, a man was apparently working on a device (?) to make carbon trading possible. He filed a patent, then died. His wife onsold this patent application to Franklin Raines, the CEO of wait for it, Fannie Mae. The same CEO who has committed massive accounting fraud.
Now the story gets more slippery: In 2000 the Chicago Climate Exchange was helped to get started by the Joyce Foundation. Its a charity set up years ago, that now manages around a billion in funds. Heres how Beck tells it:
The Joyce Foundation is like the George Soros TIDES Foundation. In fact, its actually bigger than TIDES and even funds TIDES. Think of it as a place where uber-rich and powerful liberals like to dump their money into, so the cash can be spread around to their pet projects without a direct link.
There was one influential member on the board of the Joyce Foundation at the time the Chicago Climate Exchange got its seed money; someone instrumental in steering the funds towards the creation of the Chicago Climate Exchange. They were on the board from 1994-2002. The founder of the Chicago Climate Exchange, Richard Sandor, said that he knew (this person) well, which is perhaps how the money was awarded to the Kellogg Graduate School of Management, where Sandor was a research professor. Ill get back to that person in a minute.
Who could it be that one influential member of the board, who was active in getting the CCX started? Apparently it was a man named Barack Obama.
And that patent application owned by the Fannie Mae CEO? It was finally approved by the patent office on Nov. 7, 2006. Coincidentally the day after the Democrats took control of Congress.
So now, Fannie Mae, who is congressionally mandated to make housing more affordable, is poised to reap billions on a system that has nothing to do with housing except for that it would make housing costs go up.
Remember when Fannie purchased risky mortgages from banks, bundled them together and sold to investors as mortgage-backed securities? And then the housing market was absolutely destroyed? Well, former Fannie VP Scott Lesmes was responsible for that bundling.
Well, heres the good news: Not only will this new carbon trading system try the exact same bundling method (except with air); they are using the exact same guy: Scott Lesmes.
The full Glenn Beck piece. He has challenged the media to report and investigate these connections
Hat tip to Larry
BTTT—should have included you to #19.
All crooked roads lead to Chicago.
Bump for reference.
First the Democrats invented the subprime mortgage scam and Goldman benefits. Then the Dems event cap and trade and Goldman benefits again. And, oh yes, Goldman gave $1,000,000 to the Obama campaign. Things couldn’t any more obvious.
May 4th, 2010 at 5:22 am
Soros is a Fabian!
AT this web site:
in 1947 George Soros took off for London. There he worked as a waiter at Quaglinos Restaurant, as a house painter and an apple picker, enrolling in 1949 at that famous Fabian Socialist institution, the London School of Economics (LSE), where he studied philosophy and economics.
Also found on the web:
A notable recent member of the Joyce Foundations Board of Directors was Barack Obama. While Obama was a director of the Joyce Foundation, the Foundation issued
* a $347,600 grant to Richard Sandor to design a mid-western pilot program for the voluntary trading of carbon dioxide and other emissions that cause climate change, with the goal of answering methodological questions and resolving operational issues. (2000)
* a $760,100 grant to the J. L. Kellog School of Management at Northwestern University, working with Sandor, to fund the design of the Carbon Climate Exchange, otherwise known as the CCX. (2001)
The President of the Joyce Foundation in 2000, when the foundation made its first grant to the Climate Exchange, was Paula DiPerna, who is now executive vice president of the Chicago Climate Exchange in charge of corporate recruitment and public policy, as well as president of CCX International.
DiPerna left the foundation in November 2001 and joined the Exchange. It was the same year in which the foundation gave its second and much larger grant to the exchange. The Exchange launched in 2003.
The Fabian Society has three global goals, one is to centralize credit in the hands of the Fabians which theyve done with this huge fund at 10 Downing Street which has fifty-five trillion dollars in it parked in the Carbon Disclosure Project. The Fabians goal is to centralize credit with the state and control spending, lending and taxing and in fact, they want a global carbon tax in the global common so everyone pays them for the right to breath out. The second is to have global governance through a global elite of teachers at university level. And the third is eugenics, that is, the depopulation of the earth through sterilization, or abortion, or genocide. Fabians are known most amongst the Oxford-educated Rhodes Scholars. The Fabians just had a conference in early 2010 which the Prime Minster of Britain, Gordon Brown, gave a keynote speech in which 700 delegates were in attendance.
Of course you know that William Jefferson Clinton is a Rhodes Scholar along with Robert Reich US, Malcolm Turnbull AU, Tony Abbott AU, among others.
Finally look here to tie all of this together with Tony Blair and Maurice Strong.
I think I want to go into hiding now ..
See #25...might be something new in there.
Spotlight on Gore s Dual Role As an Advocate and Investor
New York Times, Nov 3, 2009, By JOHN M. BRODER
Abstract: Al Gore finds himself in position of having to defend decision to invest, through his venture capital firm Kleiner Perkins Caufield & Byers, in Silver Spring Networks, which produces hardware and software to make electricity grid more efficient.
Gore and his partners invested $75 million in Silver Spring, which wanted to expand its partnerships with utilities seeking to install millions of smart meters in home and businesses; deal appears to have paid off now that Energy Dept has announced $3.4 billion in smart grid grants, with $560 million going to Silver Spring.
Gore and his partners could reap great returns from investment and he is defending that investment against critics who say he stood to benefit personally from energy and climate policies he urged Congress to adopt. Gore contends his investmenet activities are consistent with his public advocacy. (snip)
Gore is a founder of Generation Investment Management, based in London and run by David Blood, a former head of Goldman Sachs Asset Management (the firm was quickly dubbed Blood and Gore).
Mr. Gore earns a partners salary at Kleiner Perkins. He has substantial personal finances invested at both firms, officials of the companies said. He also serves as an adviser to high-profile technology companies including Apple and Google, relationships that have paid him handsome dividends over the last eight years.
Mr. Gores spokeswoman would not give a figure for his current net worth, but the scale of his wealth is evident in a single investment of $35 million in Capricorn Investment Group, a private equity fund started by his friend Jeffrey Skoll, the first president of eBay. Ion Yadigaroglu, a co-founder of Capricorn, said that Mr. Gore does not sit on the funds investment committee, but obviously agrees with the partners strategy of putting long-term money into promising ventures in energy, technology and health care around the globe.
Aspirationally, said Mr. Yadigaroglu, who holds a doctorate from Stanford in astrophysics, were trying to make more money than others doing the same thing and do it in a way that is superior in ethics and impacts.
Mr. Gore has said he invested in partnerships and funds that try to identify and support companies that are advancing cutting-edge green technologies and are paving the way toward a low-carbon economy.
He has a stake in the worlds pre-eminent carbon credit trading market and in an array of companies in bio-fuels, sustainable fish farming, electric vehicles and solar power.
Capricorn holds a major stake in Falcon Waterfree Technologies, the worlds leading maker of waterless urinals. Generation has holdings in Ausra, a solar energy company based in California, and Camco, a British firm that develops carbon dioxide emissions reduction projects.
Kleiner Perkins has a green ventures fund with nearly $1 billion invested in renewable energy and efficiency concerns.
Mr. Gore also has substantial interests in technology, media and biotechnology ventures that have no direct tie to his environmental advocacy, an aide said. (snip).
Oh, wait.......what about COS Rahm Emanuel? What role does he play?
Goldman Sachs Will Be Sitting Pretty With Emanuel in the Obama White House
By Timothy P. Carney, Examiner Columnist, Nov 21, 2008
EXCERPT Today, in these tumultuous times of bailouts and meltdowns when the investment banking leviathan needs Washington more than ever before, Goldman Sachs can leverage its most valuable asset yet White House chief of staff Rahm Emanuel.
Traditionally a Democratic booster, and one of Barack Obamas top sources of funds in this past election, Goldman has always had particularly strong allies in government.
Rahm Emanuel is one such ally. An interesting early chapter in the Goldman-Emanuel relationship took place in the setting of Bill Clintons 1992 campaign for the White House. Clinton hired Emanuel as his chief fundraiser.At the same time, however, Emanuel was on the payroll of Goldman Sachs, receiving $3,000 per month from the firm to introduce us to people, in the words of one Goldman partner at the time. This is certainly a noteworthy relationship, but its one that has almost entirely escaped scrutiny. (snip)
In his four terms in Congress, Emanuel raised $74,750 from Goldman, making the firm his number four source of funds. Goldman has helped Emanuel. How has Emanuel helped Goldman? The most obvious answer, as mentioned in this column two weeks ago, is in Emanuels lead role in shepherding the $700 billion bailoutfirst proposed by former a Goldman CEO, Bush Treasury Secretary Henry Paulsonthrough the skeptical House.
Of course, back in the Clinton days, Goldman benefited from NAFTA and the bailout of the Mexican currency, with Emanuel pushing NAFTA through Congress, and Rubin hammering out the peso bailout.
Did Goldman improperly funnel money to the Clinton campaign by subsidizing Emanuels salary in 1992? Did Goldmans help to Clinton spur the Democratic president to push NAFTA and the Mexican bailout?
The answers to these questions are opaque, and with Emanuel burrowed deep within the Obama White House, the continued relationship between Goldman Sachs and Obamas right hand man wont be easy to follow.
Watch which regulations of Wall Street Obama fights for. Watch where the bailout money goes.
SOURCE http://www.washingtonexaminer.com/opinion/columns/TimothyCarney/ Goldman_Sach_Will_Be_Sitting_Pretty_With_Emanuel_in_the_Obama_White_House_112108.html
Thanks Ernest_at_the_Beach, BOBTHENAILER, and Liz.
Look, the Government/Financial Complex is going to cheat. They always have, and always will. Their “deal” has always been that they would leave room for the little guy to be successful, too. Increasingly, they are indicating that that “deal” is off - times are tough and Main Street is now just another chunk of fish food to be gobbled up. That such gobbling will kill them, too, in the medium term does not seem to matter right now. They are looking down the barrel of an unstoppable deflationary depression, and they are scared.
Lugar (RINO-IN) bet the farm on CCX, literally.
Lugar Farm is first in Indiana to provide carbon sequestration offsets on the Chicago Climate Exchange
Thursday, May 18, 2006
U.S. Sen. Dick Lugars Marion County farm is the first in Indiana to participate in the Chicago Climate Exchange.
Audio comments from the press conference are available at http://src.senate.gov/lugar/radio/ and via telephone at 1-800-545-1267; press 407 for the Lugar mailbox.
I am pleased to announce that the Lugar Stock Farm has enrolled as an offset provider in the Chicago Climate Exchange. The Lugar Stock Farm is an active corn, soybean, and hardwood tree farm in Marion County, Indiana. Our farm will be the first in Indiana to enroll in this important exchange. I am hopeful that farmers in Indiana and elsewhere will investigate the possibility of enrolling in the exchange. This not only will encourage the practice of sequestering carbon, it will provide an additional source of farm income to those who qualify, said Lugar.
I believe that a bold future of increased economic opportunities is opening to Hoosier farmers. They can generate higher farm incomes and contribute greatly to solving our nations energy problems by growing the grain for ethanol production that reduces our dependence on oil. As technology becomes more sophisticated, markets will expand for fuel produced from grasses and agronomic and livestock wastes. Today, we are alerting farmers to the economic opportunities associated with solving environmental challenges through proven agricultural practices. I am confident that Hoosier farmers will take advantage of these opportunities and contribute, as they always have, to the security and prosperity of our nation, said Lugar, a member of the Senate Agriculture, Nutrition and Forestry Committee, and a former chairman of the committee.
Lugar also has been supporting major tree efforts by Indianapolis Mayor Bart Peterson. “Today’s announcement once again shows Senator Lugar’s commitment to our city and state, Mayor Peterson said. I am happy to learn that his Indianapolis tree farm is the first in Indiana to participate in a market based solution to addressing climate change. Trees have a positive impact on climate change. In Indianapolis, I am advocating the strategic planting of 100,000 trees over the next ten years to not only beautify our neighborhoods, but to also improve the environment, which is so important to us all.
The 604-acre family-owned Lugar farm in Marion County, Indiana produces corn and soybeans. A third of the farm is a classified hardwood tree farm, including significant acreage in black walnut trees that were planted in recent years. Growth of these trees produces oxygen and removes carbon dioxide from the air. The rising concentration of carbon dioxide in the earths atmosphere is associated with the risk of global climate change, which could have profound effects on ecosystems, agriculture and human health.
As a Hoosier farmer, I seek ways to ensure the economic productivity of our farming operation. I utilize risk management tools such as federal crop insurance and commodity markets, and I seek ways to add value to the products grown on our land. Nearly 20 years ago, I began converting about 200 of the 604 acres on our farm to hardwood trees. As these majestic trees grow, they absorb and store carbon from the air around Indianapolis. Increasingly, the global community is recognizing the potential perils of climate change. The ability of farmers and others to remove carbon from the atmosphere and store it through methods such as tree farming and no-till planting are an important part of the solution, Lugar said.
The Lugar Stock Farm has entered into a binding contract with the Chicago Climate Exchange to provide offset carbon credits, or carbon that entities may want to use to mitigate or offset the amount of greenhouse gasses they may produce. Based on our management practices, tree age, tree density, and other factors, the Chicago Climate Exchange estimates that our farm will capture about 3,400 metric tons of carbon in these trees. Instead of selling these offset credits directly to specific generators of carbon, the Chicago Climate Exchange operates as a market discovery mechanism similar to corn and soybean markets where willing buyers and sellers transact business based on commodity prices. The Lugar Stock Farm maintains legal ownership of these offset credits until a market decision is made to sell them on the exchange. Yesterday, carbon credits were trading at $3.50 per metric ton. Additionally, our farm is responsible for reporting any loss of trees, or the addition of trees, to ensure that carbon is being stored. Similar situations now involve U.S. livestock operations and no-till farmers, continued Lugar.
Under the energetic leadership of Dr. Richard Sandor, the Chicago Climate Exchange is providing an innovative means of involving American businesses and citizens in the effort to protect the environment. Our nations leading companies are buying and trading units of carbon as a way to reduce their impact on climate change. I am hopeful that the economic opportunities provided by the Exchange will enhance the incentives farmers already have to participate in the sequestration of carbon, Lugar said.
Chicago Climate Exchange (CCX) brings together over 170 entities dedicated to building cost-effective, market-based systems for reducing greenhouse gas emissions. Members of CCX include leading companies such as Ford, American Electric Power and IBM, cities such as Chicago and Portland, the State of New Mexico, and major universities, traders and environmental professionals. CCX is an integrated system of rules governing monitoring and independent audit, as well as electronic trading and registry platforms. CCX Members commit to reduce their greenhouse emissions 4 percent by the end of 2006, and 6 percent by 2010. Members can reduce emissions internally, and can partner with other members through trading to achieve reductions wherever most practical. Trading allows members to comply by financing emission cuts at facilities of other members, or through offset projects, including reforestation projects. Reforestation and other agricultural projects including continuous conservation tillage and methane capture mitigate global carbon emissions and yield local environmental benefits, such as cleaner water and wildlife habitat.
I want to encourage farmers to explore this new opportunity to increase their farm income by using carbon-absorbing environmental practices. We have had testimony in the Senate Agricultural Committee about the potential for farmers to receive green payments and now that opportunity can be realized. I would also encourage agricultural and environmental organizations to explore how they may help promote these opportunities among our industries, communities and landowners, Lugar said.
Lugar Stock Farms membership in CCX demonstrates Senator Lugars long-standing personal commitment to sustainable agriculture and forestry. He understands the role that market-based mechanisms can play in rewarding the environmental services provided by farmers, foresters and ranchers. We are honored and proud to be able to further build this environmental market with the help of Senator Lugars farm as a source of emission offsets. said Dr. Richard L. Sandor, Chairman and CEO of CCX.
Farmers who undertake reforestation, methane collection, continuous conservation tillage or grass plantings may be eligible to earn emission offsets and should contact Nathan Clark at (312) 554-0819.
About Chicago Climate Exchange (CCX): Chicago Climate Exchange is North America’s only, and the world’s first, legally binding multi-sectoral, rule-based and integrated greenhouse gas emission registry, reduction and trading system. CCX is the only available mechanism through which U.S. based entities may engage in the integrated carbon market with a linked reduction and trading system and is a vital tool for understanding the price of carbon in all operations. CCX members range from large industrial concerns such as DuPont, International Paper, Baxter Healthcare and Temple-Inland, to utilities such as Manitoba Hydro, Tampa Electric and Green Mountain Power, to universities such as Iowa and Minnesota, to non-governmental organizations such as World Resources Institute and Rocky Mountain Institute, to cities such as Portland, OR, Oakland, CA and Chicago, IL, to farmers in Iowa and Nebraska and the Iowa Farm Bureau, to the State of New Mexico, the first U.S. state to join CCX. Eligible emission offset projects include agricultural soil carbon sequestration, reforestation, landfill and agricultural methane combustion, and switching to lower-emitting such as biomass-based fuels. See www.chicagoclimateexchange.com.
ICE to Buy Parent Of Chicago Climate Exchange - FR, 2010 April 30 Climate Exchange was founded by Richard Sandor, a longtime futures industry executive in Chicago. .....
Futures exchange group Intercontinental Exchange Inc. said it agreed to buy Climate Exchange for 395 million pounds ($606.7 million) to create a single trading platform for environmental contracts worldwide. Shareholders in Climate Exchange, the operator of the European, Chicago and Chicago Futures carbon emissions exchanges, will receive 750 pence a share in cash, representing a 57 percent premium on Thursday's closing price...
Climate Exchange was founded by Richard Sandor, a longtime futures industry executive in Chicago. .....
Richard Sandor, Barack Obama and the Founding of the Chicago Climate Exchange (CLE.L) - Climateer Investing, 2009 June 16
..... The debate over whether or not a polluter would have cut its greenhouse-gas emissions without the financial incentive of credit sales is "quite interesting, but that's not my business," Mr. Sandor says. "I'm running a for-profit company."... Sandor Got Obama Nod on Seed Money for Chicago-Type Climate Law A Brooklyn-born economist who gave up teaching at the University of California at Berkeley in 1973 to trade the first Treasury-bond futures is getting his way with the biggest change in U.S. environmental policy in 20 years. And he has an unwitting ally from Chicago. Legislation to let polluters buy and sell carbon-dioxide emissions like pork bellies is the outgrowth of Richard L. Sandor, founder of the Chicago-based network of people trading pollution permits from Beijing to Brussels known as Climate Exchange. It doesnt hurt that the six-year-old market got $1.1 million of seed money from the citys Joyce Foundation, whose board included a little-known state senator named Barack Obama. Now the 44th president is determined to enact Americas first limits on greenhouse gases. .....
UPDATE April 30, 2010: "Al Gore, Score!: InterContinental Exchange, Inc. Buying Climate Exchange PLC (CLE.L; ICE; GS)" A scam wrapped in a scam inside a scam...
..... The debate over whether or not a polluter would have cut its greenhouse-gas emissions without the financial incentive of credit sales is "quite interesting, but that's not my business," Mr. Sandor says. "I'm running a for-profit company."...
Sandor Got Obama Nod on Seed Money for Chicago-Type Climate Law
A Brooklyn-born economist who gave up teaching at the University of California at Berkeley in 1973 to trade the first Treasury-bond futures is getting his way with the biggest change in U.S. environmental policy in 20 years. And he has an unwitting ally from Chicago.
Legislation to let polluters buy and sell carbon-dioxide emissions like pork bellies is the outgrowth of Richard L. Sandor, founder of the Chicago-based network of people trading pollution permits from Beijing to Brussels known as Climate Exchange. It doesnt hurt that the six-year-old market got $1.1 million of seed money from the citys Joyce Foundation, whose board included a little-known state senator named Barack Obama. Now the 44th president is determined to enact Americas first limits on greenhouse gases. .....
I've watched this stuff building since 1994 with Maurice Strong, Al Gore, et al... Each time someone adds new information I get a little more alarmed for the future of our magnificent earth changing republic!!!
The evil intensity with which these malevolent people and their swindling allies subverts the great morality of this exceptional world power is beyond breathtaking!!!
One wonders which belief system is more evil and fervently driven, environmentalism, or the muslim kind. Either has the power to take us right back to the darkest of ages in heartbeat... the heartbeat of America that Chevrolet used to advertise years ago...
He looks almost exactly like Mousolini, facist dictator of Italy in WW2 for all you youngsters who weren’t around back then. I was so young then, too!!! (grin)
With the Chicago dark forces in the mix now, things are rapidly approaching the boiling over point like back in the late sixties, early seventies!!! I feel it approaching like a locomotive!!! (diesel-electric, of course)
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