At last, dear reader.
It begins.
The Opposition beginning to highlight the real purpose behind the global push for trading “hot air”.
The enrichment … and further empowerment … of the global bankster class –
Note that well:
But one of the things that I really want to draw people’s attention to today is the fact that we are learning more and more about just how much money is going to go overseas under this tax. It was obvious on Sunday that in 2020 more than $3 billion was going to go overseas to foreign carbon traders to meet the Government’s emissions abatement targets but if you go out just 40 years to 2050, no less than $57 billion of Australian money is going to go overseas to line the pockets of foreign carbon traders. Within a relatively short time, more than one per cent of Australia’s GDP is going to go overseas to line the pockets of foreign carbon traders. Now, all of us want to help the environment but a get-rich-quick scheme for foreign carbon traders is not the kind of environmental assistance that Australians want. So, I just think that as each day goes past and more details of the Government’s carbon tax package become apparent the less the Australian public like it.
I hope that readers will forgive me a little moment of fantasy. A small, petty indulgence.
In my imagining the teensy possibility that my discussion with Senator Joyce just 2 weeks ago may have just a weensy bit of influence on this small shift of emphasis, in the campaign against the carbon “X” scheme scam.
I met Senator Joyce for the first time on July 1, at the Martin Place No Carbon Tax rally. Despite the pressures of so many wishing to speak with him – as you can imagine – he was gracious enough to make time available to speak with me about several concerns.
The chief of those concerns relates to my view that regular readers will be familiar with.
That is, my firm view – now confirmed by the evidence of the final package – that this carbon “X” scam is and always has been a scam designed solely to benefit bankers, from Day 1.
And therefore, it has also been my view that there is great opportunity for the Opposition to take advantage of Julia’s recent to-ing and fro-ing over whether the scheme is really a “tax”, “like a tax”, or … “an emissions trading scheme”.
How?
By emphasising the simple, demonstrable fact that an ETS only benefits the banksters, and speculators.
And further, that emissions trading has been shown to have zero impact on reducing actual emissions of CO2 –
Why do I believe it is so important to emphasise the bankster connection?
The reason is this.
While calling the scheme a “tax” has been very effective to date, in appealing to those of a conservative mindset – who in my view are generally predisposed to an ideology of lower taxes – I do not believe it is the most effective strategy for appealing to those of a more so-called “progressive” mindset.
It is my experience that “progressives” are not necessarily predisposed against bigger taxes – provided they can be convinced that it is in “a good cause”.
That is exactly how The Final Solution to global warming – the Great Global Carbon Trading Scam – has been sold to those of a “progressive” bent.
That it is “a tax” … or “like a tax” … that is “the best way” to “save the planet”.
A Robin Hood scheme, that takes from the rich, and gives to the poor, saving the planet in the process.
And so-called “progressives” have lapped this lie up.
It is also my experience that, in Australia at least, pretty much everyone … hates banks.
And it is my observation that so-called “progressives” are often their most fervent opponents.
In my discussion with Senator Joyce, I put this argument forward, and whilst congratulating him on his own frequent mentions of “bankers making fees and commissions from pushing bits of paper around”, impressed on Senator Joyce my view that the Coalition should raise the emphasis on the role of banksters in the Government’s planned scheme.
I explained my view that the polls clearly show those of a “conservative” bent are now very firmly against this scheme, irrespective of what title is given.
And that I firmly believe a significant raising of emphasis on the galactic-scale profit-making opportunity that the Scheme scam represents for global banksters – who are driving the push for global “hot air” trading – may be the best way to now begin appealing to “progressives” and the “undecided”. Using a touchstone for nearly all Aussies, conservative or progressive.
Hatred of banks.
I also suggested my view to Senator Joyce, that the Opposition should begin to do so only after a suitable interlude from the day of our discussion, being the day after Julia’s first backflip on what this scheme really is, a “tax” or an “ETS” .
An interlude of a week or two.
And here we are.
Exactly 2 weeks later.
Pure coincidence, I am sure.
But I do trust readers will understand my choosing to enjoy a little moment of vanity indulgence, on seeing the above statements by Tony Abbott yesterday 😉
Please do spread the word, to all you know.
That our Green-Labor-Independent government’s scheme, is nothing more than a global bankster scam.
As I am confident that one former Goldman Sachs Australia chairman (and “confidential” beneficiary of their deep pockets), Malcolm Turnbull MP well knows.
Barnaby Is Right 
Get rid of the hat …
More apt for Randwick and Warwick Farm.. no??
Joking
The sheeple do not understand … I doubt if they will wake up in any time soon.
As the Greens control the Senate, this will go through. Independents are just sitting back waiting for their pension, they have no penchant to run again.
All things being equal, the next election may get Liberal across the line.
What then?
Shoot for a double dissolution?
How many times has a double dissolution been called, that resulted in a measured shift of preferences in the Senate?
Problem is, that once this becomes l.a.w. it will be far more costly to rescind the scheme than anyone currently assumes.
Who foots the bill?
The minimum tax free level could be sustained as that would be covered in the main by bracket creep…. but we have a far more insidious tax playing out on miners.
Then the RBA on interest rates?
An increase to the minimal tax level, as proposed, can only increase the inflationary effect, together with an increase in the utility prices. That means an increase in interest rates (as that is the only way that the RBA knows how to handle the situation).
So if liberal does manage a feat, then what can they tackle to cover the costs and labor incompetency?
My feelings are a few austerity measures, either that or an increase in the GST ceiling to 12%, which will not be very popular on the voters nor unions.
Do not forget the increase in interest rates, that will hurt a lot of families and SME’s so a further popularity poll slaying for whoever is in power..
Then how long will Liberals stay in power, before Labor and the Greens find themselves back in a winning situation?
Same old same old … we have a revolving door of ineptitude, that leads to increased utility costs and prices across the board, which eventually will lead to austerity measures that reverts to nothing really that better at the end of the day.
Maybe we should just get rid of the fabian/marxist/socialist philosophy and concentrate on a total utilitarianism regime, without going to the point of to the point of linguistic incoherence.
I was directed to my last sentence as a mistake… puhleese it is the point!
Hey! .. no criticisms of The Hat allowed here! 😉
Seriously though, I tend to agree with the logic of much of what you’ve said here re difficulties of rescinding it. It’s why I barrack hard for ensuring it becomes another still-born pipe-dream of the Green-Labor continuous debacle post 2007. Plus .. I don’t necessarily trust that Abbott would rescind it, when the time came.
Re interest rates, did you see that Westpac’s chief tea-leaf reader Bill Evans made the big call (not) today of cuts in interest rates by December? I see a greater chance of interest rate cuts than raises, for the foreseeable future, due our economy planking. To mix the metaphors, we are just a cork on others’ ocean, and big “rogue” waves are a’ coming, I reckon.
Hey BI, I like the hat!! But you look so young! How did you get so smart, so quick??
Anyone have any ideas what Juliar’s next gig is likely to be?? After shooting herself in the political face here at home, I’m tipping Secretary General of the UN. She likes a big audience. Anyone see her performance in the US Congress a few months ago?? How many times did she reference “war”??
“We were with you in New Guinea, fighting the Japanese. We’re with you in Iraq and Afghanistan,fighting “terrorists”. We were with you in Vietnam and Korea, Hell, we’ll just go with you anywhere and anytime and fight anyone you think needs to be fought….. blah blah blah.”
I counted upwards of 37 references to war or international military conflict in a 30 minute speech to the US Congress..
This woman is MUCH more dangerous than anyone is allowing for.
She is a political animal. She has achieved her “Lifes Ambition” She’s got the “TOP JOB”. Political animals DO NOT shoot themselves in their “political face” without very good reason.
Then what would motivate her to throw it all away?? Could it be that she has been offerred an even better and bigger job??
Move over Kev. She’s already taken the job you had. Now it could be that she’s lusting after the job you’re lusting for.
“We were with you in New Guinea, fighting the Japanese”
If she really said that then she is a bonehead. In fact the Americans were with us, it was an ill trained & ill equipped militia force, the 39th Battalion, which first faced the battle hardened Japanese South Seas Force in New Guinea.
The Americans did not fight until the very end at Buna & even then required the assistance of an Australian brigade to overrun the Japs after suffering heavy losses in an initial failed assault.
Perhaps the least publicised aspect of the Carbon Tax is the gamble the Labour Greens Socialist Coalition (LGSC) is integrating the restructuring of the Australian economy to function and depend on the basis of an economically-liquid Co2 trading market that does not yet exist and the probability it might exist by 2015 is unlikely in the extreme.
Here’s the thing the LGSC or our majority left-wing media wont tell you when they talk about Co2 trading. Australia will inevitably emit Co2 at levels beyond our committed limits. We will need to buy Carbon Permits from other countries participating in a Trading Scheme. Trouble is: There is NO GLOBAL AGREEMENT ON THE TERMS OF Co2 TRADING. YES, IT DOES MATTER!!
All of the evidence from the EU warns us that in their ideological exuberance, the LGSC have struck a STARTING PRICE for Co2 that is significantly higher than our potential trading partners with equivalent Government Administration and Audit standards and processes. The price of which has already collapsed three times within their jurisdiction, requiring government intervention to bring it back to life.
A global price based on bottom-up demand versus market manipulation will require the participation of at least the 3 largest Co2 emitters, the USA, China and India. However, the USA has already entirely abandoned and talk of a Co2 Trading scheme. Let’s say it again for clarity: It is not the policy of the Obama administration, nor any candidate in the Republican party. It is a dead issue in the US political system.
China have made limited statements regarding a Co2 trading scheme, though no concrete timeframe, mechanisms or pricing details have been provided. In what fantasy would anyone suggest China would not ensure a significant price advantage on any OECD competitor? Given it’s commitment to immense investments in new coal fired power facilities, Co2 in China will be as cheap as a digital watch from the plants that rely on that power.
India has a policy to control the emissions of the top 563 emitters (as Gillard has mentioned) by putting a price on Co2. A sobering fact is that India places a price of approx 50 Rupees/tonne. That’s about $1.07 for anyone not in the corporate finance department.
The consequences of loosing this gamble will even dwarf the disgraceful transfer of billions of Australian Dollars Offshore as the Australian economy will be stranded in the middle of a Global Reform party that didn’t eventuate, including:
– Lining the pocket of questionable Administrators within countries that have dubious records of propriety, leading to increased emissions based on false abatement permits (known as Carbon Leakage)
– Without the Global adoption of a Co2 Trading Scheme, the Market Value of a Tonne of Co2 will inevitably be significantly lower than Australia’s Fixed price at the point of transition in 2015
– The total collapse of the Governments Budgetary planning and Forward Estimates from reduced Co2 Revenues.
– Financial Devastation to the Companies, Investors, Employees and Customers of investments in Co2 mitigation that function within the proposed market and or market leveraging government programmes.
In consideration of the above, the greatest probability is the economically-liquid Co2 Trading market the LGSC are betting your future on is ALL BUT DEAD. Not impossible in their social-engineering minds. To the rest of us, it is more like the iron lung of the fixed Co2 price will be pumping away, while the scans of the market indicate it’s brain dead, but the LGSC ideologues will stride up in 2015 and turn off the life support, fully expecting their Co2 Creation to leap into life and sweep up the LGSC and carry them to their glorious place in history.
I fear one day some knucklehead, somewhere in Canberra will figure out that C02 has two oxygen atoms per carbon atom. Next thing you know, the banks will be strapped for cash, and we’ll start trading Oxygen too!!
On interest rates.
CPI index will point up with the increase in utility prices.
Commodities will point up with the fact that hot money needs to find a home.
Retail suck and will continue to do so.
Mining sector will continue to boom.
However we are looking at the RBA here, interest rate ghouls who think that they are the champions of the Greenspan put. Stevens is a dill and will increase rates to offset the perceptions that will filter through on the stats.
If you look at history the Euro situation will be subject to can kicking again and the plebs (and bond market) will settle down. AU will drop and the ‘risk on’ market will be back in vogue. I am of the opinion that Italy will calm the markets with the $99b package pushed through the parliament, more bailouts and European states will continue to absorb the stupid debt from other Countries (Ireland/Portugal and Spain). So we are due for a hiatus, Finland remains on the radar, as too Japan.
Remember that the international investment bankers are in control. They will continue on their merry way and ensure that there is debt on top of debt. Euro Central Bank has twits at the helm, no different to here!
2014/5 will be more likely the time-frame that everything breaks down.
And Evans … well he misses the mark more often than not. I cannot see the big banks reducing their loan rates due to their cost of borrowing.
The one black swan I do see however is the COMEX and the systematic collapse of this market through sheer weight of paper, that has taken the place of physical. There is a hell of a lot of paper backing the trades and BoE appears as reckless as anyone, leasing other peoples assets, to the players. Just takes a couple of withdrawals and the BoE will need to cover fast. Then you have the ETF’s SLV and GLD, both of these have no precious metals backing and are relying on a collapse on price and Sprott’s funds may take a beating on a correction which will have ramifications.
The biggest single issue for me though is who has bought AU futures at $1,600 in September?? .. someone has a crystal ball and is using it to good effect.
Oh and Trichett … he is an idiot, this one fool supports my theory of perpetual can kicking … the ECB to buy up as much debt as possible from all countries within the zone.