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The smell of money ( Carbon Trading and the Money behind the Global Warming Hoax )
JoNova ^ | May 4th, 2010 | joanne

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 won’t be doing a heck of a lot if carbon trading doesn’t become mandatory. All of these players have a vested interest in Cap N Trade legislation.

But it’s 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. It’s a charity set up years ago, that now manages around a billion in funds. Here’s how Beck tells it:

The Joyce Foundation is like the George Soros’ TIDES Foundation. In fact, it’s 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. I’ll 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.

There’s more:

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, here’s 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 :-)

The short killer summary: The Skeptics Handbook. The most deadly point: The Missing Hot Spot.



TOPICS: Business/Economy; Conspiracy; Science; Weather
KEYWORDS: 111th; agw; capandtrade; carbontrade; corruption; democratcorruption; democrats; energy; envirofascism; globalwarming; globalwarminghoax; greendemagogues; obama
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1 posted on 05/03/2010 1:51:15 PM PDT by Ernest_at_the_Beach
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To: steelyourfaith; NormsRevenge; Fred Nerks; blam; SunkenCiv; Grampa Dave; SierraWasp; BOBTHENAILER; ..

fyi


2 posted on 05/03/2010 1:52:15 PM PDT by Ernest_at_the_Beach ( Support Geert Wilders)
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To: Ernest_at_the_Beach; Nipfan; Defendingliberty; 4horses+amule; Nervous Tick; Amagi; Beowulf; ...
Thanx !

 




Beam me to Planet Gore !

3 posted on 05/03/2010 1:56:19 PM PDT by steelyourfaith ("Let his days be few; and let another take his office. " - Psalm 109:8)
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To: Ernest_at_the_Beach

This is very serious. Where are our representatives to save us from this nightmare and keep our government honest and true to it’s original purpose?


4 posted on 05/03/2010 1:57:08 PM PDT by auntyfemenist (Where is a grassy knoll when you need one?)
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To: MamaDearest; freekitty; jesseam; Piquaboy; SouthTexas; ZULU; 70th Division; 2ndDivisionVet; ...

Rampant Corruption


5 posted on 05/03/2010 2:00:10 PM PDT by ExTexasRedhead (Clean the RAT/RINO Sewer in 2010 and 2012)
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To: ExTexasRedhead
"Rampant Corruption.

Nothing new about that. It's been going on for years.

Bart.

6 posted on 05/03/2010 2:03:52 PM PDT by blackbart.223 (I live in Northern Nevada. Reid doesn't represent me.)
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To: blackbart.223

You are oh so correct. Time to remedy the situation on November 2nd.


7 posted on 05/03/2010 2:05:05 PM PDT by ExTexasRedhead (Clean the RAT/RINO Sewer in 2010 and 2012)
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To: Ernest_at_the_Beach

CCX communist bump


8 posted on 05/03/2010 2:08:12 PM PDT by newfreep (Palin/DeMint 2012 - Bolton: Secy of State)
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To: Ernest_at_the_Beach
The $10 Trillion Climate Fraud (Cap-And-Trade and CCX)
Cap-And-Trade: While senators froth over Goldman Sachs and derivatives, a
climate trading scheme being run out of the Chicago Climate Exchange would
make Bernie Madoff blush. Its trail leads to the White House.”


“Fannie Mae Chief Executive Officer Franklin Raines, two of his top underlings and select
individuals in the "green" movement were inventing a patented system to trade residential carbon credits.
Patent No. 6904336 was approved by the U.S. Patent and Trade Office on Nov. 7, 2006 --
the day after Democrats took control of Congress. Former Sen. John Sununu, R-N.H.,
criticized the award at the time, pointing out that it had "nothing to do with Fannie Mae's charter, nothing to do with making mortgages more affordable."

"It wasn't about mortgages. It was about greenbacks. The patent, which Fannie Mae confirmed it still owns with Cantor Fitzgerald subsidiary CO2e.com, gives the mortgage giant a lock on the fledgling carbon trading market, thus also giving it a major financial stake in the success of cap-and-trade legislation."


“Here comes the next bubble -- carbon trading
Forget CDOs and other inventions of the great credit bubble. That’s all old hat.
Investment bankers are moving on to an area of securities trading that is potentially even
more lucrative, and what’s more, even has a social value – saving the planet.
….According to Mr Schapiro, carbon trading is now the fastest growing commodities
market on earth. Since Kyoto signatories bought in to the cap and trade concept in 2005,
there have been more than $300bn carbon transactions, prompting several investment
banks, including Goldman Sachs and Barclays, to set up their own carbon trading desks.
But that’s just the start. If President Obama and his supporters can institute a cap-and-
trade system in the United States – and that’s a big if for this increasingly marooned
presidency – demand could explode into a $2 to $3 trillion market.

And here’s the great thing about it. Unlike traditional commodities markets, which will
eventually involve delivery to someone in physical form, the carbon market is based on
lack of delivery of an invisible substance to no-one. Since the market revolves around
creating carbon credits, or finding carbon reduction projects whose benefits can then be
sold to those with a surplus of emissions, it is entirely intangible.

“Carbon developers”, many of them employed by large multinationals, travel the world
in search of carbon reduction projects to sell, while firms of carbon accountants have been
established to verify on the United Nations’ behalf that those reductions are real.
The whole thing, though well intentioned, looks wide open to abuse and scams. “

9 posted on 05/03/2010 2:08:36 PM PDT by Diogenesis (Article IV - Section 4 - The United States … shall protect each of them against Invasion)
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To: ExTexasRedhead
"You are oh so correct. Time to remedy the situation on November 2nd."

there are a lot pissed off people right now. Let's hope they stay pissed off till November.

Bart.

10 posted on 05/03/2010 2:12:23 PM PDT by blackbart.223 (I live in Northern Nevada. Reid doesn't represent me.)
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To: Ernest_at_the_Beach

bump to the top


11 posted on 05/03/2010 2:14:17 PM PDT by GOPJ ("Draw Mohammad Day" - - May 20, 2010 - Draw for freedom - draw for your children's freedom.)
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To: Diogenesis

That picture reminds me off Mussolini.


12 posted on 05/03/2010 2:14:28 PM PDT by blackbart.223 (I live in Northern Nevada. Reid doesn't represent me.)
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To: blackbart.223

Same demon inhabiting Obama.


13 posted on 05/03/2010 2:18:02 PM PDT by Hoosier-Daddy ( "It does no good to be a super power if you have to worry what the neighbors think." BuffaloJack)
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To: Ernest_at_the_Beach

Gore needs a new place alright. A cell.


14 posted on 05/03/2010 2:18:28 PM PDT by Hoosier-Daddy ( "It does no good to be a super power if you have to worry what the neighbors think." BuffaloJack)
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To: Ernest_at_the_Beach
Good read. The list of criminals increase as they are slowly exposed to the public eye.
Many dots yet to be exposed as well as connected.
15 posted on 05/03/2010 2:19:45 PM PDT by Marine_Uncle (Honor must be earned....)
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To: ExTexasRedhead

They are corrupt is right.


16 posted on 05/03/2010 2:30:19 PM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: Ernest_at_the_Beach

Standing between psychopaths and all the money in the world is a dangerous place to put yourself. God Bless and protect you Glenn.


17 posted on 05/03/2010 2:37:36 PM PDT by DManA
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To: Hoosier-Daddy
"Same demon inhabiting Obama."

It would seem so.

18 posted on 05/03/2010 2:37:59 PM PDT by blackbart.223 (I live in Northern Nevada. Reid doesn't represent me.)
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To: auntyfemenist; steelyourfaith; NormsRevenge; Fred Nerks; blam; SunkenCiv; Grampa Dave; ...
This is very serious. Where are our representatives to save us from this nightmare and keep our government honest and true to it’s original purpose?

No kidding it's serious.

Our representatives are lining up to sell us down the road of Euro-energy prices for the TRILLIONS OF DOLLARS IN NEW TAX REVENUE.

Not to mention lining the pockets of a few select liberals to the tune of hundreds of millions of dollars. Al Gore, and others, are chuckling all the way to their Swiss/offshore bank accounts.

19 posted on 05/03/2010 2:38:23 PM PDT by BOBTHENAILER (EPA will rule your life)
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To: Hoosier-Daddy
"Gore needs a new place alright. A cell."

Next to a big guy named Bubba.

20 posted on 05/03/2010 2:39:55 PM PDT by blackbart.223 (I live in Northern Nevada. Reid doesn't represent me.)
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