Tag Archives: banksters

The “Carbon Tax” Is NOT A Tax … It Is The Bankers’ CPRS By Another Name

27 Jun

Apologies in advance for any underlying tone of anger / frustration here.

I’ve decided to post on this topic after yet again fruitlessly debating with someone – a prominent conservative public “think tank” figure who should know better – who (like most Aussies) has swallowed the line that our government is introducing a carbon dioxide “tax”.

It is not. Ok?

It is NOT a #&^%! “tax”.

It is something far more insidious than merely a simple “tax” … something that you are hoping could easily be repealed one day.

But hey, don’t take my word for it.

Here’s Julian Turecek of Cleantech Ventures, writing for MacroBusiness in May 2011 (emphasis added):

The current government has not yet give its policy a formal name. So the Opposition has obliged* and chosen one for them: a carbon tax.

Now this has got a lot of people, mainly tax advisers and accountants, barking up the wrong tree. It’s not actually a tax…

The current proposal is not a tax, but a fixed price emissions trading scheme. This is exactly the same as the CPRS, which also had a fixed price at the start.

[* Think back carefully. When Gillard announced that she would introduce a “price on carbon” after all, she and the government initially denied the Opposition’s “great big new tax” claim. But they have since allowed, and encouraged, this false meme to become entrenched into the public psyche. I believe that is because calling it a “tax” sounds more simple and less threatening, and does not so clearly highlight the banker-driven “trading” aspect if they had instead called it what it is, and always was ultimately intended to be right from the beginning … an Emissions Trading Scheme.]

Do you need something more formal and “official” than the word of an investment fund manager for “clean energy” technology?

Then read the final Garnaut Review, Chapter 5 (emphasis added):

In implementing an emissions trading scheme with a fixed-price start, there are two sets of decisions to be made: the starting price and how much the price will rise in each subsequent year; and the timing, conditions and manner of transition to emissions trading with a price that is set by market exchange.

Garnaut makes it crystal clear. It is an emissions trading scheme with a fixed price start.

Need more?

Carefully read the government’s own website on the topic (emphasis added):

Broad architecture of the carbon price mechanism

A carbon price mechanism could commence with a fixed price (through the issuance of fixed price units within an emissions trading scheme) before converting to a cap-and-trade emissions trading scheme…

Now sit up and take notice.  The following is very important, if you are going to get your head around why this is NOT a tax, and why allowing it be called that in public discourse (but not in the official documents) is a very sneaky, very deceitful way of relabelling what is exactly the same policy.

Note carefully what it says under Transition Arrangements (emphasis added):

Transition Arrangements

At the end of the fixed price period, the clear intent would be that the scheme convert to a flexible price cap-and-trade emissions trading scheme. In relation to the transition to a flexible price, it would be important to design the arrangements so as to promote business certainty and a smooth transition from the fixed to flexible price.

Ross Garnaut also reiterates the importance of the initial design promoting a “smooth transition” to a fully-floating price ETS, in his final Garnaut Review:

Investors need clarity about when and the conditions under which the transition to a floating price will occur. To support a smooth transition, the necessary institutions and supporting infrastructure should be established from the beginning of the scheme. It is important to specify rules for the scheme as soon as possible, including arrangements for auctioning permits and for acceptance of offsets and international permits.

Ok.

So, how exactly do you design a scheme to promote a “smooth transition”?

By giving those initial “fixed price” permits an expiry date that is far enough away to ensure that they can be traded when the emissions trading scheme transitions to a “floating” price. In this way, the “property rights” of those forced to purchase the initial “fixed” (and rising over “3-5 years”) price permits are safeguarded (ie, thus, “business certainty”) – they can “bank” their permits and trade them later, when the transition to a floating price occurs.

Of course, an even simpler way would be to give these permits to “pollute” an unlimited expiry date.

Which is exactly what the government’s official Policy position was under the original Rudd-Garnaut CPRS White Paper.  Which the Gillard-Garnaut “carbon pricing” mechanism aims to replicate – because that is what the bankers want (emphasis added):

Policy position 8.1

Each permit will have a unique identification number and will be marked with the first year in which it can validly be surrendered (its ‘vintage’). It will not have an expiry date.

…

8.4.1 Banking

Banking allows permits to be saved for use in future years. With unlimited banking, permits would not have an expiry date—once issued, they could be used for compliance at any future time.

… the advantages of banking are greatest if banking is continuous. For these reasons, the Government will allow unlimited banking from Scheme commencement.

To all those who continue to parrot the party line that what our government is proposing is a “tax” … you are wrong.

You have been hoodwinked.

In calling it a “tax”, you are focussing on unimportant details of the initial “fixed price” period, and failing to see the end game. The Big Picture.

The Government’s plan has never changed.  They have always been pursuing a CPRS – an emissions trading scheme – with an initial fixed price period.

It’s the thin end of the carbon-trading global banksters’ wedge.

So if you still think it is just a “tax”, then you have just bent over, grabbed your ankles, and taken the thin end right up your @$$.

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Our Banks World’s Most Profitable, Adding Insult To Injury

27 Jun

More confirmation – if any were needed – that our banks are as greedy and reckless as we have shown recently (eg, “Our Banks Racing Towards A ‘Bigger Armageddon'” ).

h/t to journalist Peter Martin and the latest Bank Of International Settlements (BIS) data, for showing that our banks are the world’s most profitable:

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GFC2 Will Be Brought To You By “A Stupid F***in’ Government And Above All, Wankin’ F***in’ Bankers”

20 Jun

WARNING: We all know that any warning to the effect that the following contains language that may offend some viewers, or is unsuitable for children, only guarantees that children and/or those who might be offended will definitely view the potentially offensive material.  So, this warning is a warning that the following does NOT contain language unsuitable for children or that may be offensive to some viewers.  And if you believe that, then there’s really no help for you, now is there.

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Unelected, Unaccountable JAFA Garnaut Calls For Unelected, Unaccountable, Unholy Trinity Of Carbon Gods

1 Jun

The Labor/Green/Independent government’s hand-picked, unelected, unaccountable, Solomon Islands strip-clearing, water polluting, gold mining, $5 Million taxpayer-salaried, Grand Poobah #JAFA, Mr Ross Garnaut, has decreed called for a trinity of unelected, unaccountable, unnamed “independent” persons to oversee the totalitarians wet dream Eco-dictatorship.

From the Herald Sun:

Do not give the unelected a power to tax you

One idea in Ross Garnaut’s report to the Gillard Government yesterday must be fought by every democrat.

No, this country must not let its future be decided by an unelected committee.

It’s already bad enough that we’ll get a foolish tax the Government promised before the election not to impose.

But sneaking around the people’s will seems the mission of today’s warmist.

Garnaut, the Government’s global warming guru, yesterday recommended an “independent” committee decide how much we cut our emissions – which, in turn, influences the level of any carbon dioxide tax.

This essentially means unelected people will decide how much to jack up your bills for power and petrol, and everything made with them.

Yes, their call can be overruled by the Government, but the aim is to make a political decision “non-political”.

The Government seems keen on Garnaut’s plan because of the very reason it should never be adopted.

Labor and the Greens are squabbling right now over how much to cut our emissions in their negotiations over next year’s carbon dioxide tax.

Labor wants our emissions cut by much less than the Greens demand, because it fears what voters might do to it once they realise what this useless sacrifice will cost.

But if an “independent” committee made that decision, the Government could claim its own hands were clean. Blame the committee, instead.

This is frankly sold as an anti-democratic move that warmists need.

As one media report approvingly noted: “Garnaut has concluded the only safe way to manage a carbon price going forward is to keep politicians as far away from the process as possible.”

You can punish politicians. Bureaucrats, you can’t. So Garnaut’s plan will leave the policies to people beyond your influence.

That may please Garnaut, but the rest of us should fight.

Already we will get a tax we didn’t vote for. Now we are told the tax will be overseen by people we’ll never vote for.

Protest. Do not surrender your power.

Andrew Bolt is right.

But he misses a crucial point. Because he does not Follow The Money.

Consider.

One of the three gods in Garnaut’s unholy trinity of “independent” regulatory entities, is an “independent” Carbon Bank.

We have looked at this evil idea before (see “Our ‘Squeeze Pop’ Carbon Bank”).

It is nothing more than a ruse to allow banksters – the same people who gave us the GFC – to get their hands on billions of taxpayer’s money right from the start. Even before the move from an initial fixed price “tax”, to a legislated-to-rise “market” priced Emissions Trading Scheme in “3 to 5 years”.

And it is this particular unholy god that will bankrupt the country.

How?

One of the “powers” that the eco-fascists like Garnaut and the peak “clean energy” lobby group want an “independent” carbon bank to be granted, is the power to BORROW against future CO2 tax revenues, and “invest” those borrowings:

An independent carbon bank, similar to the Reserve Bank, should be set up to oversee a carbon price and investment in clean technology, the peak renewable energy lobby says.

The Clean Energy Council will today release a discussion paper proposing the carbon bank, which it says could be allowed to borrow money to invest in renewable energy projects against the future revenue of Labor’s proposed carbon tax and emissions trading scheme.

Note that well.

Borrowing … and “investing” … against the future government tax revenue.

In other words, the government … meaning taxpayers … would be the guarantor for any losses on those “investments”.

In a bankster-designed, multi-trillion dollar, global air-trading derivatives market.

We have all seen just how well things work out for the little people, when governments pass laws that effectively give unelected, unaccountable banksters free reign over markets (and thus, our economy).

It’s time to stand up and be counted.

To take our country back, before the eco-fascist banksters bankrupt us all. Once and for all.

Make your voice heard.

Call your MP’s and Senators today.

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Bankers – The Root Of Evil

11 May

Banking was conceived in iniquity and born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take away that power, and all the great fortunes like mine will disappear — as they ought to in order to make this a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, then let them continue to create deposits.

Sir Josiah Stamp (1880-1941), one time governor of the Bank of England, in his Commencement Address at the University of Texas in 1927. Reportedly he was the second wealthiest individual in Britain.

Bankers have become even more ‘sophisticated’ in the many decades since Sir Josiah Stamp let the cat out of the bag. Now, not only do they create ‘money’ out of thin air by signing you up to a loan – which is entered into a computer as a brand new “deposit” for you to spend – they also ‘manufacture’ all kinds of ‘synthetic’ money substitutes too.

They’re called “derivatives”. Or, as Warren Buffet called them, “Financial weapons of mass destruction”.

And bankers can create as many of them as they wish, because there is absolutely zero regulation of the derivatives markets. To give you some idea, at the peak of the first wave of the GFC in 2008, there was around 1.44 Quadrillion $USD worth of OTC (“Over The Counter”) derivatives in existence.

Why is this important?

Because the $1 Trillion funding to save the Eurozone announced yesterday is meaningless.  The Eurozone cannot be saved, no matter how much money the EU tries to beg, borrow, steal… or print.  Because banksters like Goldman Sachs can simply create ever greater mountains of ‘synthetic’ derivatives with which to attack debt-laden countries, one by one, starting with the weakest.

From ZeroHedge:

Jim Rickards: “Goldman Can Create Shorts Faster Than Europe Can Print Money”

Jim Rickards, who recently has gotten massive media exposure on everything from the JPM Silver manipulation scandal, to the Greek default, was back on CNBC earlier with one of the most fascinating insights we have yet heard from anyone, which demonstrates beyond a doubt why any attempt by Europe to print its way out of its current default is doomed: “Look at what Soros did to the Bank of England in 1992 – he went after them, they had a finite amount of dollars, he was selling sterling and taking the dollars, and they were buying the sterling and selling the dollars to defend the peg. All he had to do was sell more than they had and he wins. But he needed real money to do that. Today you can break a country, you don’t need money you just need synthetic euroshorts or CDS. A trillion dollar bailout: Goldman can create 10 trillion of euroshorts. So it just dominates whatever governments can do. So basically Goldman can create shorts faster than Europe can create money.“

The world is not ruled by politicians.  It is ruled by banksters.  Most of us simply don’t quite understand that, because we don’t understand how they do it.

It is very simple.  Well before most of us were born, bankers were given the exclusive power to create ‘deposits’.  Which you and I know as ‘debt’.  And which is now called ‘credit’ … because it appeals to our Pride, and sounds so much nicer, to delude ourselves that we have been given ‘credit’.

When in reality, what we have been given is a Debt.  By accepting the offer of ‘credit’ (Debt), we sell ourselves as slaves to the bankers.

They know it.  They’ve always known it.

Now you do too.

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