Replies

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?

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 Â… shall protect each of them against Invasion)

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.)

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)

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

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.

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.

30 posted on 05/03/2010 3:09:51 PM PDT by Mr. Jeeves ( "The right to offend is far more important than any right not to be offended." - Rowan Atkinson)