Posted by Tina
Carbon trading has become one big money making scam and it’s rife with corruption and fraud. Investor’s Business Daily reports on the raids and arrests going on across Europe and the potential dangers for America that high flying players, pushing a similar scheme in America, might visit upon us:
“Europe’s Carbon Mafia, And Ours” – IBD
Twenty-five people have been arrested in raids by British and German authorities as part of a pan-European crackdown on carbon credit VAT tax fraud.
This is troubling news for America. The President is very much interested in Cap and Trade and a VAT tax is being considered in Congress as well. I’m particularly troubled to discover that President Obama sat on the board of the Joyce Foundation when it granted start-up capital for Chicago’s Carbon Trading Exchange (CCX). His involvement in creating the exchange in Chicago places him in a compromised position regarding cap and trade and vat tax legislation. The entire idea is as stinky as the scheme Democtrats created to put poor people in houses. That scheme later played a prominent role in the housing crash and banking meltdown. This one has the potential to cost the average Joe a whole lot more:
Now President Obama would make such carbon trading mandatory, limit total emissions and make carbon as valuable a commodity as booze during Prohibition. ** The Joyce Foundation’s two grants totaled just over $1 million. CCX has proved very lucrative for (CCX founder) Sandor, whose 8 million shares in the exchange has grown to more than $260 million even before a national cap-and-trade system like Europe’s is established. ** Al Gore, who recently increased his carbon footprint by spending $8.9 million on an oceanview villa near Santa Barbara, Calif., sitting on 1.5 acres with a swimming pool, spa, fountains, five bedrooms, nine bathrooms and no fewer than six fireplaces, is co-founder of Generation Investment Management LLP, the fifth largest shareholder in CCX. ** The largest shareholder is, uh, Goldman Sachs. Other CCX founders include former Goldman Sachs partner David Blood, as well as Mark Ferguson and Peter Harris, also of Goldman Sachs. Presumably they know a lot about playing shell games with other people’s money.
The big boys at one of the banks that was “too big to fail” are rubbing elbows with our president who also recently said he was against breaking these “too big to fail” banks up into smaller ones. Cozy, huh?
Ladies and gentlemen the big boys in business and big government have taken enough from our pockets. Big government schemes to manipulate business has got to stop. The fraudsters, no matter who they are, must be deterred, caught, and punished severely!