Tag Archives: carbon trading

Support For Carbon Price Means Support Killing Black People: Oxfam Report

14 Oct

See all the happy little politicians, dear reader?

And see all the happy little carbon tax / trading supporters?

What all these people are really supporting … is genocide.

Of black people.

From the New York Times (via Oxfam):

New Forests Company, grows forests in African countries with the purpose of selling credits from the carbon dioxide its trees soak up to polluters abroad. | Credit: Sven Torfinn for The New York Times

In Scramble For Arable Land, Groups Says, Company Pushed Ugandans Out

KICUCULA, Uganda — According to the [New Forests Company’s] proposal to join a United Nations clean-air program, the settlers living in this area left in a “peaceful” and “voluntary” manner.

People here remember it quite differently.

“I heard people being beaten, so I ran outside,” said Emmanuel Cyicyima, 33. “The houses were being burnt down.”

Other villagers described gun-toting soldiers and an 8-year-old child burning to death when his home was set ablaze by security officers.

“They said if we hesitated they would shoot us,” said William Bakeshisha, adding that he hid in his coffee plantation, watching his house burn down. “Smoke and fire.”

William Bakeshisha, farmer and local chief, lost his house and land and now rents a room in a neighboring village. In his briefcase, he keeps documents that provide proof that he inherited the farm from his father | Credit: Sven Torfinn for The New York Times

According to a report released by the aid group Oxfam on Wednesday, more than 20,000 people say they were evicted from their homes here in recent years to make way for a tree plantation run by a British forestry company, emblematic of a global scramble for arable land.

“Too many investments have resulted in dispossession, deception, violation of human rights and destruction of livelihoods,” Oxfam said in the report. “This interest in land is not something that will pass.” As population and urbanization soar, it added, “whatever land there is will surely be prized.”

Across Africa, some of the world’s poorest people have been thrown off land to make way for foreign investors, often uprooting local farmers so that food can be grown on a commercial scale and shipped to richer countries overseas.

But in this case, the government and the company said the settlers were illegal and evicted for a good cause: to protect the environment and help fight global warming.

The case twists around an emerging multibillion-dollar market trading carbon-credits under the Kyoto Protocol, which contains mechanisms for outsourcing environmental protection to developing nations.

The company involved, New Forests Company, grows forests in African countries with the purpose of selling credits from the carbon-dioxide its trees soak up to polluters abroad. Its investors include the World Bank, through its private investment arm, and the Hongkong and Shanghai Banking Corporation, HSBC.

In 2005, the Ugandan government granted New Forests a 50-year license to grow pine and eucalyptus forests in three districts, and the company has applied to the United Nations to trade under the mechanism. The company expects that it could earn up to $1.8 million a year.

But there was just one problem: people were living on the land where the company wanted to plant trees. Indeed, they had been there a while…

An evicted woman shows proof of land ownership | Credit: Sven Torfinn for The New York Times

Olivia Mukamperezida, 28, said her house was among the first in her community to be burned down. One day in late 2009, she said, her eldest son, Friday, was sick at home, so she went out to find medicine. Villagers suddenly told her to rush back. Everything was incinerated.

“I found my house when it was completely finished,” she said. “I just cried.”

Ms. Mukamperezida never found the culprits. She buried Friday’s bones in a grave, but says she does not know if it is still there.

“They are planting trees,” she said.

(Read the rest of the NYT story here.)

And then there’s this:

Armed troops acting on behalf of a British carbon trading company backed by the World Bank burned houses to the ground and killed children to evict Ugandans from their homes in the name of seizing land to protect against “global warming,” a shocking illustration of how the climate change con is a barbarian form of neo-colonialism.

The evictions were ordered by New Forests Company, an outfit that seizes land in Africa to grow trees then sells the “carbon credits” on to transnational corporations. The company is backed by the World Bank and HSBC. Its Board of Directors includes HSBC Managing Director Sajjad Sabur, as well as other former Goldman Sachs investment bankers.

The company claims residents of Kicucula left in a “peaceful” and “voluntary” manner, and yet the people tell a story of terror and bloodshed.

Villagers told of how armed “security forces” stormed their village and torched houses, burning an eight-year-child to death as they threatened to murder anyone who resisted while beating others.

“We were in church,” recalled Jean-Marie Tushabe, 26, a father of two. “I heard bullets being shot into the air.”

“Cars were coming with police,” Mr. Tushabe said, sitting among the ruins of his old home. “They headed straight to the houses. They took our plates, cups, mattresses, bed, pillows. Then we saw them getting a matchbox out of their pockets.”

An Oxfam report documents how the British outfit has worked with the Ugandan government to forcibly expel over 20,000 people from their homes using terror and violence as part of a lucrative scramble for arable land that can be used to satisfy the multi-billion dollar carbon trading ponzi scheme, which is worth $1.8 million a year to the company.

(Read the full article here.)

This is just one example of the unintended (?) consequences of the universally-ignorant support by multitudes of morally self-righteous, urban rich white people, for “pricing carbon” in the name of “saving the planet”.

But that’s ok … those are just dirt poor BLACK people, aren’t they? And the urban white self-righteous hate everything black … think black balloons coming out of air conditioners … except perhaps for their oh-so-fashionable “wicked” little black dress for an indulgent night out.

As has been demonstrated countless times on this blog – including from the government’s legislation – the “carbon tax” has never had anything whatsoever to do with climate change.

It is, and always has been, all about money. Derivatives, to be precise.

“Putting a price on carbon” is all about legally enabling the predatory financial sector to rape the world all over again, with a new derivatives-based ponzi scheme, after their Western world real estate derivatives bubble exploded (GFC1).

It is a very simple scam.

Carbon “pricing” creates in law a new artificial ‘commodity’ called “carbon ‘units’, having an artificially-created (by proclamation) monetary value.

Who benefits?

On the lower level, governments. The basic carbon “price” for selling (on threat of gaol) their “permits” to “pollute”, represents a new cashcow for politicians. For handing out to their mates, favouring special interests, and bribing the ever-more welfare-dependent electorate to vote for them (ie, keep them in power).

On the higher (unseen) level, the international shadow banking sector. “Pricing carbon” means they can (a) cream off billions in fees and commissions on the trade in those permits, but far more importantly (b) instantly create unlimited quantities of wholly unregulated carbon derivatives, to gamble on unregulated international trading markets.

Exactly like the Western real estate bubble.

If you support “putting a price on carbon”, then what you are really supporting is two outcomes.

Impoverishing the West.

And genocide of black people.

All for the benefit of … not the environment … but bankers.

Barnaby Rages Against The Green Machine

12 Oct

Hot off the presses, and an “insider” gift to barnabyisright.com, here follows a great speech given just this morning in the Senate, by Barnaby Joyce.

It came after the Greens used their numbers to shut down a move by The Leader of the Opposition in the Senate (Senator Abetz) to suspend standing orders to allow for consideration of a motion of censure: “That this Senate censure the Labor-Green Alliance’s unprincipled use of their numbers to stifle debates that involve the national interest” (my emphasis added):

UPDATE: For your viewing pleasure –

Senator JOYCE (Queensland—Leader of The Nationals in the Senate) (10:40): It is a disgusting day when the Greens, who were the paragons of virtue and were allowing open and transparent debate to enable all sections of the chamber to take part in the carbon tax debate, become part of a guillotine process so that one political party in Australia and the Independents cannot be part of the debate — no-one can be part of the debate because the Greens have changed. It is a new paradigm. The paragons of virtue have now descended down the greasy pole to be just like everybody else. I will bet there are a few Democrat voters out there who have wondered where they have ended up in supporting the Greens. There used to be a sense of honour in here but they have taken it and trashed it.

Just like the deceit with the carbon tax, they are saying one thing while being something else. The Greens today have shown that they say one thing out there but they are entirely something else. When leave was sought for the making of a brief statement, even that was denied. That is where this whole debate has got to. They are running and hiding because this whole tax is such a debacle, such a fiasco. It is disturbing that, because the Greens have chosen to adopt this attitude, we are denying not just political parties but the people of Australia the chance to be involved in and hear the debate in all its complexity, with all its nuances. The Greens exude this almost nauseating faux nobility but when you put them to the test it is the same party that denied Annette Harding the chance to have an inquiry into her rape and it is the same party that is now denying opportunity for debate. That is the Greens; that is who we have; that is what they have become.

The Australian people are very uneasy about this carbon tax. We had a demonstration in support of the tax out the front of Parliament House, but there were more placards than people — no-one turns up; the support is all contrived. In a couple of weeks time I am going to sell a mob of cattle and I am going to tell the truck driver to take them to Dubbo. I expect the cattle to end up in Dubbo. I will certainly be disappointed if he decides instead to take them to Weabonga and just let them go in the hills. It is exactly the same thing — when you have a contract with the Australian people, their expectation is that you will take them to a certain position, and the position this government said it would take them to was that there would be no carbon tax under the government this Prime Minister led. Instead, the government took the people to the hills and just let them go. Then Graham Perrett goes out and says they will not change the truck driver. It does not matter about the truck driver; it is the destination that matters — in this case the destination that those opposite are taking this nation.

This is why it is so vital that we turn this around. In these times of uncertainty, with what we are seeing in Europe and what we are seeing America, what the government is doing to this nation is culpable. Those opposite know that and that is why they are guillotining; that is why they are shutting down debate; that is why they are not allowing the Australian people to have their proper say. It is ludicrous to say that we have had a chance to look at this legislation. We have not. The government has wrapped it and stacked it and brought it in here in a bundle. If we asked those opposite to quote sections of it or to go to the pertinent parts of it, they would not know it themselves — they would not have a clue. It is going to come in here because they have wanted out — they have other things to deal with. They have to work out whether Mr Rudd is coming back and whether he is going to take out the Prime Minister. This is the whole soap opera that our nation has become under these people. It is a disgusting, hopeless approach to government. Every facet of this government is now a total and utter debacle.

What about regional Australia? The government inquiry went to Melbourne and to Sydney and to Canberra, but who did they talk to? They talked to their mates. The big banks are going to be happy — soon they are going to get this massive commission stream which the Greens will bring into place. The Greens are supporters of big banks and big banks’ commissions.

I am surprised to see Senator Rhiannon is going to be supporting the big banks in getting billions of dollars of commissions out of struggling working families, out of people who currently cannot afford their power and out of people who currently cannot afford the daily necessities of life.

This is where the nation is going. Is it going to change the climate? No. We have asked Minister Wong this question 600 times and never once have we got an answer. How much will this change the temperature of the globe? The answer is absolutely not at all. It is merely a gesture and in the cruellest form will be delivered to people who cannot afford it. They are going to be lumbered with it for life, and the absolute insult is they listen to you now and they are hearing you shut down the debate because you are scared. You are running, but you are not going to hide — we are going to flush you out.

Barnaby is right.

We are going to flush them out.

Here’s how.

Carbon Permits Do Not Even Exist

2 Aug

Are the government’s carbon dioxide permits really just “bits of paper” for banksters and assorted financial parasites to shuffle around for fees and commissions?

Are the government’s carbon dioxide permits really just “bits of paper” for banksters to reference as the basis for creating new derivatives products for their long-sought carbon derivatives casino?

No.

As I have said all along, the carbon permits will not even be printed on physical paper.

They will be electronic bookkeeping entries.

Electronic digits.  In a computer.

It is yet another similarity with the completely farcical EU system, where over 3 million of these “permits” – which only exist as numbers in a “Registry” computer – were stolen between November 2010 and January 2011.

From our government’s exposure draft Clean Energy Bill 2011, Part 4, Division 2 (emphasis added):

Division 2—Issue of carbon units

94 Issue of carbon units

The Regulator may, on behalf of the Commonwealth, issue units, to be known as carbon units.

95 Identification number

A carbon unit is to be identified by a unique number, to be known as the identification number of the unit.

98 How carbon units are to be issued

(1) The Regulator is to issue a carbon unit to a person by making an entry for the unit in a Registry account kept by the person.

(2) An entry for a carbon unit in a Registry account is to consist of the identification number of the unit.

(3) The Regulator must not issue a carbon unit to a person unless the person has a Registry account.

Too easy.

Left click, left click on the mouse button.

Tap tap, tap tap on the keyboard.

Voila!

A new “carbon permit” has been created.

With a government-decreed purchasing power, of AUD $23 (in 2012).

In other words, exactly the same way that “money” is created under modern banking.

Wheeeeeeeeeeeeeeeeeee!

This bankster-designed evolution of the old medieval-era hoax called “alchemy” – formerly known as “turning lead into gold” –  is really easy.

You just have to be the one making the rules.

Which is why I say this.

Again.

There is only one way that common humanity can ever truly be free.

And stay free.

By taking unto ourselves – each and every one of us – those powers long held exclusively by a tiny minority of malevolent modern-day central banking “alchemists”, who create “money” out of thin air.

See my essay – The People’s NWO: Every Man His Own Central Banker.

“There are a thousand hacking at the branches of evil to one who is striking at the root” – Henry David Thoreau

Spread The Word – “Untouchable” Turnbull Is A Goldman-Plated Turd

14 Jul

The public reception to the carbon “X” is somewhat hostile.

So … quelle surprise! … Malcolm Turnbull is at it again.

From today’s Australian (emphasis added):

Liberal colleagues turn on Malcolm Turnbull over his ‘bitter’ mindset

Malcolm Turnbull is being urged by colleagues to reconsider his future in politics after his latest attack on Opposition Leader Tony Abbott.

A senior Liberal told The Australian Online that Mr Turnbull had a strong future in the party, but only if he could shake his “bitter and twisted” mindset.

Another Liberal went further, saying it was time for the former Liberal leader to resign.

“For the good of the Liberal Party and the country, Malcolm Turnbull has to leave the parliament,” the source said.

Here on barnabyisright.com, we have long covered the real background story of Mr Turnbull’s strident advocacy for Emissions Trading.

The background story that calls into question everything about Mr Turnbull’s motives, and actions:

Malcolm Turnbull, the former Goldman Sachs Australia chairman, named co-defendant in a $450+ million lawsuit, and beneficiary of a “confidential” settlement made on his behalf by his former employer, believes so strongly in Australia having an emissions trading scheme for a very good reason indeed.

But I personally harbour the gravest of doubts that “saving the planet” has anything whatsoever to do with it…

Your humble blogger has spoken with a number of persons within the Coalition, in seeking to draw widespread public attention to the above.

I believe that the public has a right to be fully informed about all the details of Mr Turnbull’s long involvement with – and possible obligations to – the international banking giant and carbon dioxide derivatives trading advocate, Goldman Sachs.

It has been made clear to me by informed sources that – in terms of our mainstream media, and this particular story – Mr Turnbull is an untouchable.

So dear reader.

It is clear that, if the truth will out, then it is up to you and me.

The people power of Australia.

To spread the word.

Because our mainstream media will not.

So, if you would like to see the Government’s carbon “X” scheme scam detonated, then I am asking for your concerted help, to make that happen.

To blow up the myth that Mr Turnbull is the politician of great integrity, standing stalwart by his beliefs in the need for an emissions trading scheme – and only an emissions trading scheme – as “the best way” to “save the planet”.

I have tried. Others have tried too. But the mainstream media will not touch this story.

In my firm view, if this story were headline news around this nation – as it should be – then the last bulwarks of public support for the carbon “X” scheme scam would collapse.

As the “conservative” hero and “preferred Liberal PM” of the green cargo cult was seen in a fuller light.

Illuminating the public to his questionable past … and present …. actions.

Please be a light of truth today.

And tomorrow.

And the day after that.

Every day, until the truth will out.

Please, share this post with everyone you know … and, those you don’t.

As a favour to your humble blogger.

To yourself.

And the nation.

Thank you.

* Other, related links to help you to be informed, and to inform –

Compassion For Malcolm – He Just Wants His Balls Back

Malcolm’s Motive: His ETS Lie Unravelled

Doing God’s Work – Turnbull An Angel Of ‘Death Derivatives’

“Turnbull Once Said To Me, ‘You Capitalise On Chaos'”

UPDATE:

Initiated by a reader and follower of my Twitter feed, the following exchange took place this afternoon between myself and Mr Turnbull, along with some interjections from Twitter onlookers.

I will leave readers to draw their own conclusions:

* Click on the bold ” @____ ” titles to view original tweets.


@TurnbullMalcolm

@nqcowboy_@barnabyisright@getuppr barnabyisright.com is such a courageous website there is nowhere can be found the identity of the author


@BarnabyisRight

@TurnbullMalcolm Would you care to offer FULL disclosure re Goldman, HIH, FAI, “confidential settlement” Mr Turnbull? @nqcowboy_ #auspol


(Interjection by) @gtwarrior47

@TurnbullMalcolm @BarnabyisRight @ Politics is a dirty game Malcom.The goal is to get the labor/green coalition off the treasury bench,


@BarnabyisRight

@gtwarrior47 Disagree. The goal is to have an honest, open, transparent Parliament, w/out conflicts-of-interest etc @TurnbullMalcolm #auspol


(Interjection by) @makiwa

@BarnabyisRight Agree. Without full accountability and transparency, we will only have an illusion of change! @gtwarrior47 @turnbullmalcolm


@TurnbullMalcolm

@BarnabyisRight@nqcowboy_ and who are you? Or are you as cowardly as you are scurilous?


@BarnabyisRight

@TurnbullMalcolm Not relevant, Mr Turnbull. What is relevant are the facts viz GS, HIH, FAI, ur “confidential settlemnt” @nqcowboy_


(Interjection by) @snowytristan

@BarnabyisRight @TurnbullMalcolm @nqcowboy_ We would like to to know Malcolm. Sounds like Gillard and her cover-ups.


@TurnbullMalcolm
 –

@snowytristan @barnabyisright @nqcowboy_ ok whats the question?


@BarnabyisRight
 –

@TurnbullMalcolm RU willing 2 provide public w/ ALL documentation viz GS/HIH/FAI “confidential settlement”? @snowytristan @nqcowboy_ #auspol


@BarnabyisRight

@TurnbullMalcolm RU willing 2 publish sworn affidavit that u’ve 0 obligations of any kind 2 GS/their CT interests? @snowytristan @nqcowboy_


@BarnabyisRight

@TurnbullMalcolm RU willing 2 publish sworn affidavit that u will receive 0 benefit – financ/otherwise – from ETS? @snowytristan @nqcowboy_


@TurnbullMalcolm
 –

@BarnabyisRight a bit rich from someone who wont reveal his name..but I have no obligations to GS re carbon – only a paranoid wd say I did.


(Interjection by) @KeeptheBshonest

@TurnbullMalcolm @barnabyisright MT, we understand your frustration you will never be PM of Aust but calling folks Paranoid is a bit rich!!


@TurnbullMalcolm

@KeeptheBshonest @barnabyisright conspiracy theorists usually are. Especially when they dont have the guts to say who they are.


(Interjection by) @KeeptheBshonest

@TurnbullMalcolm @barnabyisright No Guts is about you sucking it up and “fully supporting your leader” in the fight for govt old mate, JS


@BarnabyisRight

@TurnbullMalcolm You are obfuscating Mr Turnbull. Ad hom. is not honest response to the 3 simple Q’s posed, implies guilt. @KeeptheBshonest


@BarnabyisRight

RU willing to publish sworn affidavit to that effect? @TurnbullMalcolm “..I have no obligations to GS re carbon” #auspol


@BarnabyisRight

@TurnbullMalcolm RU willing 2 provide public w/ ALL documentation viz GS/HIH/FAI “confidential settlement”? @FixNSWLegal @JamesJohnsonCHR


@BarnabyisRight

@TurnbullMalcolm RU willing 2 publish sworn affidavit that u, family, assoc’s, will receive 0 benefit – financ/otherwise, from ETS? #auspol


@TurnbullMalcolm

@BarnabyisRight If you are not prepared to say who you are, then I regret our interesting dialogue will have to come to an end.


@BarnabyisRight

@TurnbullMalcolm Sir, it appears you are not prepared to openly, directly, & honestly respond to reasonable questions of public record.


(Interjection by) @NOH8ER

@TurnbullMalcolm That’s not reasonable – what matters is the value of what is said, not who says it, Malcolm. cc.@BarnabyisRight


(Interjection by) @maatilda

@TurnbullMalcolm This tweep has a large following and if you dont respond you condemn yourself @BarnabyisRight


@BarnabyisRight

@TurnbullMalcolm As I iterated earlier Mr Turnbull, who I am is irrelevant to the facts. You are the public “servant”. Pls answer direct Q’s


(interjection by) @joneschris79

@TurnbullMalcolm @barnabyisright – don’t let it end. Best Aussie twitter 2n and fro ever. Plus…we want the answers.


@NOH8ER

@KeeptheBshonest @TurnbullMalcolm @barnabyisright I actually wanted MT to be PM but the GS affair is unsettling.


@KeeptheBshonest

@NOH8ER @turnbullmalcolm @barnabyisright never liked the kid who took his bat & left a game mid way through because a point went against him


@BarnabyisRight
 –

@KeeptheBshonest Never liked “public servants” who attack the man when asked simple, direct Q’s of national import @NOH8ER @turnbullmalcolm


@KeeptheBshonest

@BarnabyisRight @noh8er @turnbullmalcolm you keep asking the tough q’s mate, MT lacks ticker, that’s why Libs turfed him out


@BarnabyisRight

@KeeptheBshonest No, disagree. Think Mr @turnbullmalcolm has lots of ticker. Q’s go to issue of obligation, opportunity, not courage @noh8er


@NOH8ER
 –

@TurnbullMalcolm I looked forward to you as an alternative to Abbott, then I found out about the Goldman Sachs affair. @BarnabyisRight

I Was Right – Our Banks Begin Preparing Carbon Derivatives Market

14 Jul

It did not take long. Just 3 days.

From Business Spectator (emphasis added):

Australian banks are eyeing opportunities to cash in on the proposed carbon tax by developing new financial products and services that capitalise on a market seen to be worth billions of dollars annually, according to a report by the Australian Financial Review.

Australian financial firms that have experience in European carbon markets, such as Macquarie Group Ltd, Westpac Banking Corp Ltd and ANZ Banking Group Ltd are particularly keen to establish their presence in the Australian market.

The initial three-year fixed carbon tax period from 2012 will serve as time to prepare for the release of ETS permits by 2015, when opportunities will really open up for banks to capitalise on the carbon market.

ANZ’s head of energy trading said the value of the derivatives carbon market would dwarf the $10 billion initially raised by the government, according to the AFR.

I was right.

On Carbon Sunday, I dissected the Government’s newly-announced “carbon pricing mechanism” (see “Our Bankers’ Casino Royale – ‘Carbon Permits’ Really Means ‘A Licence To Print'” ).

Here’s a couple of quotes from that article. The first is in reference to the “initial fixed price period” that the Government would have you believe is “like a tax”:

I was right.

The carbon permits will have no expiry date.

They are an artificial construct – “an electronic entry” – that is deemed by government decree to be a new “financial product”.

Moreover, note carefully the sentence I have bold underlined.

The creation of equitable interests, and taking security over them, simply means this.  The carbon permits can be used as the basis for bankers to create other, new financial “securities”.

Carbon derivatives, in other words.

Derivatives (or “securities”) are the toxic, wholly-artificial financial “products” that were at the heart of the GFC.  The same bankster-designed “widgets” that the world’s most famous investor, Warren Buffet, spoke of as “a mega-catastrophic risk”, “financial weapons of mass destruction”, and a “time bomb”.

You can stop reading this piece right now if you like.

Because from that Table 6 alone, you now have conclusive proof that this is nothing whatsoever to do with the climate.

It is all – and only – about global bankster profits. At the direct expense of the common people of planet earth.

Note well. The banks do not have to wait until the “flexible price period” commences after 3 years, to begin creating their “securities” (ie, derivatives), based on the notion of the underlying “value” of the “fixed price” carbon permits.

The Government’s scheme allows this from Day 1. Naturally. Because that is what the banksters – and their “leading economist” shills – are all salivating over. A government-decreed excuse, to create a whole new kind of “derivatives” market.  It is the whole point of the scheme.

In specific reference to the “flexible price period” to follow three years later, I wrote this:

Now, why have I bold underlined “borrowing“?

And why have I bold underlined “advance auctions of flexible price permits…”?

Because these are the key words from the “banking and borrowing” section. The words that tell you all you need to know.

That this SCAM is nothing whatsoever to do with the global climate.

And that it is 100% about creating a new, global, CO2 derivatives-trading market for the banksters.

The world’s biggest-ever financial cesspool.

Of toxic, intrinsically-worthless, humanity-raping financial “instruments” called derivatives.

Non-existent, digital “widgets”.

That can be borrowed from the future – ie, before these artificial carbon “widgets” are even issued – and leveraged by scum-of-the-earth banksters.

And then, traded by these parasites at multiples of hundreds and thousands of times more than the underlying, artificially-created “value” of the carbon permit.

Furthermore, the “advance auctions of flexible price permits in the fixed price period” proves beyond all shadow of doubt, that I was right.

That this “carbon pricing mechanism” is the bankers’ CPRS by another name. From Day 1.

Why does it prove it?

The advance auctions of flexible price permits “in the fixed price period” means this.

From Day 1, the government is effectively allowing the setting up of a futures trading market, for Australian CO2 permits.

Futures trading of nothing. Before the nothing is even created.

The banksters’ wet dream.

Australia – you have been monumentally conned.

The Green-Labor-Independent Alliance’s plan to “save the planet”, is a gigantic scam.

It is the bankers’ Casino Royale.

Where “carbon permits” really means, “A Licence to Print”.

Thank you, Australian Financial Review and Business Spectator.

For confirming that I was right.

Oh … just one more thing.

To help give you some idea – a picture in your mind – of how gigantic the new (government-rigged) “market” for the banksters’ carbon derivatives can become, take a look at the following chart, sourced from the RBA’s Statistics data.

It shows the size of our banks’ current holdings of Off-Balance Sheet derivatives bets, on the future of Interest Rates, and Foreign Exchange Rates:

Click to enlarge

Yes, that’s $3.98 Trillion in Foreign Exchange derivatives bets. And a whopping $11.68 Trillion in Interest Rate derivatives bets. Off-Balance Sheet. At March 2011.

Here’s another chart – also sourced from RBA data – showing our banks’ current On-Balance Sheet “Assets” (66% of which are actually loans) – the blue line – compared to their total Off-Balance Sheet “Business” (ie, derivatives) – the red line:

Click to enlarge

Yes, that’s $2.68 Trillion in “Assets” (mostly loans). Compared to … $16.8 Trillion in Off-Balance Sheet derivatives gambling. Mostly on Interest Rates, and Foreign Exchange rates.

Just try to imagine the size of the brand new carbon dioxide “hot air” derivatives market casino that our banksters’ will create, in the form of leveraged bets on the underlying so-called “value” of carbon permits.

It is Armageddon waiting to happen.

Our Bankers’ Casino Royale – “Carbon Permits” Really Means “A Licence To Print”

11 Jul

I was right.

It is a scam.

A huge scam.

A clever, complicated scam.

But a scam, nonetheless.

In previous articles, I identified the two key details of the Green-Labor Alliance’s proposed “carbon pricing” scheme. The only two details that matter. Because they are the two key details which confirm whether this really is “a tax” / “like a tax”. Or, whether this is just a European ETS-imitating scheme scam:

Will the carbon permits:

(1) have an unlimited expiry date?

(2) be bankable from the commencement of the scheme?

If you’ve not read the previous articles I’ve posted about this – including my online brawl with Opposition Climate Action Onanist Greg Hunt MP about it – then you may wish to recap by reading this, this, and especially, this.

Now, if you just want the quick answers to those 2 key questions, then here’s the 30 second summary. All you need to know. Without bothering to check and understand the detail for yourself.

1. YES, carbon permits will have an unlimited expiry date.

2. NO, carbon permits issued during the “fixed price period” can not be banked. Although there will be unlimited banking after 3 years, when the “flexible price” period begins.

BUT … and (like Gillard’s) it’s a very big but … all “freely allocated” carbon permits can be traded. And – here’s the real biggie, ladies and gentlemen – from Day 1 the Government will allow securitisation of carbon permits (the creation of carbon derivatives, in other words). AND, the Government will set up an “auction” system in advance of the “flexible price period” – an advance-auction system that effectively creates a carbon Futures trading market, allowing banksters (and the lucky 500 “polluters”) to speculate gamble on the future price of the “flexible price” permits, that will replace the “fixed price” permits after 3 years.

I was right.

It is NOT a “tax”.

From Day 1, it operates as an ETS by stealth.

It is the bankers’ CPRS by another name.

And what “carbon permits” really means, is “permitted to profit”.

Or perhaps more accurately … A Licence To Print.

Want to know more? To see the proof with your own eyes … and understand it too?

Ok. Let’s get into the details.

Now that GilBrown’s Grand Design has finally been released, let’s take a look at the Government’s freshly-minted cleanenergyfuture.gov.au website. There we can see exactly what they have to say about those two key details that I identified previously.

Note that the answers are buried in the fine print.  Naturally.  You have to read the Appendices.

In this case, the “devil in the detail” is hidden in Appendix A.

First, let us look for the answer to my point #1 – Will there be unlimited expiry dates for carbon permits?

We find the answer in Appendix A, Table 6  (emphasis added):

Table 6 Compliance

Carbon permits

The domestic unit for compliance with the carbon pricing mechanism will be the ‘carbon permit’.

Each carbon permit will correspond to one tonne of greenhouse gas emissions.

The creation of equitable interests in carbon permits will be permitted, as will taking security over them.

In addition, carbon permits will:

* be personal property;

* be regulated as financial products;

* be transferable (other than those issued under the fixed price or any price ceiling arrangements);

* have a unique identification number and will be marked with the first year in which they can be validly surrendered (‘vintage year’);

* not have an expiry date; and

* be represented by an electronic entry in Australia’s National Registry of Emissions Units.

I was right.

The carbon permits will have no expiry date.

They are an artificial construct – “an electronic entry” – that is deemed by government decree to be a new “financial product”.

And, they are a personal property right (see first asterisk) of the holder of the permit. Exactly as I argued with that onanist shill for the green cargo cult, Greg Hunt MP.

Moreover, note carefully the sentence I have bold underlined.

The “creation of equitable interests”, and “taking security over them”, simply means this.  The carbon permits can be used as the basis for bankers to create other, new financial “securities”.

Carbon derivatives, in other words.

Derivatives (or “securities”) are the toxic, wholly-artificial financial “products” that were at the heart of the GFC.  The same bankster-designed “widgets” that the world’s most famous investor, Warren Buffet, spoke of as “a mega-catastrophic risk”, “financial weapons of mass destruction”, and a “time bomb”.

You can stop reading this piece right now if you like.

Because from that Table 6 alone, you now have conclusive proof that this is nothing whatsoever to do with the climate.

It is all – and only – about global bankster profits. At the direct expense of the common people of planet earth.

Now, what about my point #2. The key question of whether there will be unlimited banking of permits.

That is covered in Appendix A as well.  But we must take a bit of a journey here, as it’s a little more complicated to get to the bottom of this one.

If you are interested to understand how this scam really works more fully, then do bear with me here (emphasis added):

Scheme architecture

Table 1: Starting price and fixed price period

Fixed price period

The carbon pricing mechanism will commence on 1 July 2012. There will be a three year fixed price period.

The fixed price

The carbon price will start at $23.00 per tonne in 2012‑13 and will be $24.15 in 2013‑14 and $25.40 in 2014‑15.

The prices in the second and third year reflect a 2.5 per cent rise in real terms allowing for 2.5 per cent inflation per year (the midpoint of the Reserve Bank of Australia’s target range).

Blah blah blah. We already knew all that. These details were leaked in advance, in typical Green-Labor fashion.

Let’s get to the nitty gritty. The characteristics of the carbon “permits” themselves, and what you can (and cannot) do with them.

Especially during the initial 3 year, so-called “fixed price period”.  The period in which the government (and Opposition) have been telling you that this scheme scam “is a tax” or “will operate like a tax” (depending on what day it is):

Fixed price permits

Liable entities will be able to purchase permits from the Government at the fixed price, up to the number of their emissions for the compliance year.

Any permits purchased at the fixed price will be automatically surrendered and cannot be traded or banked for future use.

Ok.

So, the lucky 500 “polluters” can not trade, or bank, any permits that are purchased at the fixed price.

Now, that appears to eliminate point #2 of those key points that I identified, doesn’t it? The question of unlimited banking of permits.

But does it really?

Hold your horses, dear reader. There’s more to it than that.

Let us peel back the multiple layers of deception.

Yes, permits that are purchased can not be banked.

But what about permits that are handed out for free?

Permits freely allocated may be either surrendered or traded until the true-up date for the compliance year in which they were issued. They cannot be banked for use in a future compliance year.

Right.

So, just like “purchased” permits, “freely allocated” permits also can not be banked during the “fixed price period”. (However, all permits will have unlimited banking after 3 years, when the “flexible price period” begins – see Appendix A, Table 3)

But note this well.

Freely allocated permits can be traded “until the true-up date for the compliance year in which they were issued”.

In other words, with respect to “freely allocated” permits in particular – which will be handed out to “trade exposed” industries rent-seekers – this IS an emissions trading scheme.

It’s right there.  In black and white.

I was right.

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

Now, did you notice that other little word back there?

“surrendered”?

What happens when “freely allocated” permits are “surrendered”?

Is that just a case of handing back something that you got for free?

Or … is there another profit-making opportunity for our lucky “polluters” there too?

That is, a profit-making opportunity over-and-above the profit-making opportunity they have been granted, to simply jack up their prices and use the “cost” of permits as an excuse – whether they actually paid for all their “permits” or not. Just like the lucky “polluters” have done in the European scheme scam (from Green-Left Weekly May 1, 2011):

The first phase of the ETS ran from 2005 to 2007. It made no dent in emissions. But power companies made about 19 billion euros by charging customers for the “cost” of permits they were given for free. Manufacturers made about 14 billion euros in windfall profits with the same trick.

So, let’s take a look shall we, and see if there might be yet another profit-making opportunity for our hand-picked lucky 500 “polluters”, on all those “freely allocated” carbon permits (emphasis added):

Buy‑back of freely allocated permits

The holders of freely allocated permits will be able to sell them to the Government from 1 September of the compliance year in which they were issued until 1 February of the following compliance year.

Got that?

You get some-thing for nothing.

You increase your costs to customers, using the government-decreed “price” of that “some-thing” as your excuse – a windfall profit.

And then, you either trade that free “some-thing” to someone else, or, you sell it back to the government – for another windfall profit.

Brilliant!

Now that’s what I would call “transitional assistance” too, if I were one of those lucky 500 “big polluters”.

Money for nothing.

How much will you get paid for selling back your free permits … you lucky big “polluter” you?

The price paid by the Government will be equal to the price of the fixed price permits for that year, discounted to 15 June of the compliance year by the latest available Reserve Bank of Australia index of the BBB corporate bond rate, so that the buy‑back price reflects the present market value of the permit.

From 15 June onwards, the price paid will be equal to the fixed‑price permits for that vintage.

What does that mean?

It’s very simple.

Those lucky “polluters” receiving “freely allocated” permits (to profit), can either:

(a) trade them (as we saw earlier), OR

(b) sell them back (ie, “surrender” them) to the Government.

If they can’t pull a big enough profit from trading their free permits … the fall-back plan is to resell them to the Government.

Now, who do you think is going to benefit the most from all the transactions of these carbon permits?

Who is going to make money for nothing via fees and commissions, each time a “freely allocated” permit is traded, or bought from/sold back to the government?

Banksters.

The same despicable scum, the parasites who created the GFC, and have been driving the global push for CO2 emissions trading from Day 1.

Our government’s scheme scam will achieve exactly the same result as the benchmark European ETS.

Huge profits for a few.

Raped wallets for the many.

And absolutely bugger-all impact on global CO2 “emissions reduction” –

Want more?

There IS more.

Is there anything interesting to note about the subsequent “Flexible Price Architecture” (ETS)?

That wonderful “market-based” scheme scam that comes after the so-called “fixed price period” (in which trading of freely allocated permits can happen anyway, meaning it is an ETS from Day 1)?

The final destination of the scheme scam that Gillard spoke of in these words just days ago – “I have always been determined to create an emissions trading scheme … for our nation’s future”.

Is there anything about the detail of the “flexible price architecture” that might give us further evidence – if any were needed – that this really is the bankers’ CPRS by another name?

Indeed there is.

Take a look at Appendix A, Table 3 (emphasis added):

Table 3: Flexible price architecture

Price ceiling

A price ceiling will apply for the first three years of the flexible price period.

The price ceiling will be set in regulations by 31 May 2014 at $20 above the expected international price for 2015‑16 and will rise by 5 per cent in real terms each year.

If the world is on a 450 parts per million carbon dioxide equivalent (CO2-e) trajectory or higher, this will be reflected in international prices and the price ceiling will automatically be $20 above this price. The level of the international price will be examined closer to the point of transition to a flexible price period to ensure that the price ceiling reflects a $20 margin above its expected level.

In other words, our Green-Labor Alliance would (if still in power) not only allow, but indeed, “ensure”, that the CO2 price in Australia could be traded at a $20 per tonne premium to the international price.

Economic planking indeed.

And, a Paradise Now bonus for banksters.

Because this detail tells us that this is a scam whereby the government will “ensure” that there is “flexibility” for the banksters’ – market manipulators extraordinaire – to use the many dodgy means at their disposal to push the Australian CO2 trading price up, by as much as $20 more than the international market price.

In other words, if the international market price for CO2 permits (again) fell to near-zero – let’s say, $0.10 – then our Green-Labor Alliance would still happily allow our nation to suffer under a $20.10 price for CO2 permits, and the flow-on effects of that to the prices on everything.

Insanity.

But there’s more:

Price floor

A price floor will apply for the first three years of the flexible price period.

The price floor will start at $15 and rise at 4 per cent in real terms each year.

Also highly significant.

And insane.

If still in power, our Green-Labor Alliance would force the so-called “free market” price to be at least $15 per tonne. And, they would force that price to rise at a rate of 4% per annum.

Ummmmm … hello?!

That’s NOT a “free market” mechanism.

That is quite simply, a Communist-style command-economy.  Wearing a very thin veil of “free market” respectability (if you’re idiot enough to believe it, that is).

But here’s the part I really love, dear reader.

The part that – once again – confirms that this is a bankers’ CPRS by another name.

Banking and borrowing

Unlimited banking of permits will be allowed in the flexible price period.

There will be limited borrowing of permits such that, in any particular compliance year, a liable entity can surrender permits from the following vintage year to discharge up to 5 per cent of their liability.

Auctions of permits

Permits will be allocated by auctioning, taking into account transitional assistance provisions for key sectors.

The policies, procedures and rules for auctioning will be set out in a legislative instrument.

The Government will advance auction future vintage permits. There will be advance auctions of flexible price permits in the fixed price period.

Note that bit about “transitional assistance provisions” for “key sectors”. That’s Orwellian doublespeak for “freely allocated permits” for “big ‘polluters’ with the best lobbyists”.

If you are a “polluter” in need of “transitional assistance” – meaning, everyone – then you will get lots and lots of freely-allocated permits. To help you “transition” (wink wink, nudge nudge).

Now, why have I bold underlined “borrowing“?

And why have I bold underlined “advance auctions of flexible price permits…”?

Because these are the key words from the “banking and borrowing” section. The words that tell you all you need to know.

That this SCAM is nothing whatsoever to do with the global climate.

And that it is 100% about creating a new, global, CO2 derivatives-trading market for the banksters.

The world’s biggest-ever financial cesspool.

Of toxic, intrinsically-worthless, humanity-raping financial “instruments” called derivatives.

Non-existent, digital “widgets”.

That can be borrowed from the future – ie, before these artificial carbon “widgets” are even issued – and leveraged by scum-of-the-earth banksters.

And then, traded by these parasites at multiples of hundreds and thousands of times more than the underlying, artificially-created “value” of the carbon permit.

Furthermore, the “advance auctions of flexible price permits in the fixed price period” proves beyond all shadow of doubt, that I was right.

That this “carbon pricing mechanism” is the bankers’ CPRS by another name. From Day 1.

Why does it prove it?

The advance auctions of flexible price permits “in the fixed price period” means this.

From Day 1, the government is effectively allowing the setting up of a futures trading market, for Australian CO2 permits.

Futures trading of nothing. Before the nothing is even created.

The banksters’ wet dream.

Australia – you have been monumentally conned.

The Green-Labor-Independent Alliance’s plan to “save the planet”, is a gigantic scam.

It is the bankers’ Casino Royale.

Where “carbon permits” really means, “A Licence to Print”.

UPDATE:

Stock broker and licensed securities and derivatives dealer Andy Semple recognises the same point that I did above – that this is not a “free market” mechanism at all, but a Soviet-style command-and-control scheme. He has deconstructed the Government’s carbon trading scam, from a trader’s perspective. A must read –

The Clayton’s Emissions Market – “The Market You Have When You’re Not Having A Market”

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 @$$.

%d bloggers like this: