EPA Threatens “Command-and-Control” Economy to Push Climate Change Agenda

Kurt Nimmo
Infowars
December 9, 2009

The Environmental Protection Agency’s recent declaration that the life-sustaining gas carbon dioxide is a dangerous pollutant is part of an effort to establish “command-and-control” role for government. EPA boss Lisa Jackson declared carbon dioxide dangerous prior to her scheduled appearance at the Copenhagen climate summit in Denmark.

Command-and-control is a military term defined as the exercise of authority and direction by a designated commanding officer over assigned and attached forces in the accomplishment of the mission. In the case of the EPA, the mission is to impose the globalist climate change agenda on the United States.

EPA boss Jackson announces carbon dioxide is a pollutant.

More specifically, the EPA threat to impose a military-style command-and-control over the economy is an effort to force congressional action on the climate change agenda.

EPA states that it will not wait for an agreement in Copenhagen and action on climate change legislation in Congress. Proposed legislation that passed the House is currently on hold in the Senate.

The agency, established by Richard Nixon and Congress in 1970 with 18,000 full-time employees, will intervene directly in the economy, according to an official.

“If you don’t pass this legislation, then … the EPA is going to have to regulate in this area,” the official announced. “And it is not going to be able to regulate on a market-based way, so it’s going to have to regulate in a command-and-control way, which will probably generate even more uncertainty.” The EPA official warned that the EPA’s intervention will be a huge “deterrent to investment” and will inflict injury on an already damaged economy.

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Critics of the Obama administration and the EPA say such directives from on-high represent a move toward socialism. In fact, the EPA’s dictatorial edict is more evidence that the government is colluding with the “powers of financial capitalism,” as Carroll Quigley of Georgetown University described the global elite, who are working to dominate the political system of each country and the economy of the world as a whole. “This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements, arrived at in frequent private meetings and conferences,” explained Quigley.

The leak earlier this week of the “Danish text” demonstrates that secret agreements are being hatched behind the scenes at Copenhagen.

Republicans have urged Jackson and the EPA to withdraw the finding on carbon dioxide in light of leaked emails from the Climate Research Unit that reveals how scientists manipulated climate data and threatened skeptics.

Rep. James Sensenbrenner, R-Wis., the ranking Republican on the House Select Committee for Energy Independence and Global Warming, said yesterday he is will attend the Copenhagen conference and inform world leaders and climate change commissars that despite any promises made by Obama no new laws will be passed in the United States until the “scientific fascism” ends. “The U.N. should throw a red flag” on scientists who support the climate change fraud and are attempting to stifle dissent.

Climate change guru and carbon trading opportunist Al Gore told CNN yesterday that the leaked emails do not change the world government and carbon taxation scheme. Gore said the emails were taken “out of context.”

Al Gore attempts to dismiss the CRU emails on CNN.

Appearing on the Alex Jones Show yesterday, Lord Monckton said text of the Copenhagen agreement mandates a globalist power grab on an “unimaginable scale” by a “sinister dictatorship.” Monckton described how a new world government outlined in the treaty would impose a 2% taxation on the GDP of the United States and “close down effectively the economies of the west” and “transfer your jobs to third world countries.”

URL to article: http://www.infowars.com/epa-threatens-command-and-control-economy-to-push-climate-change-agenda/

Monckton Says Secretive Copenhagen Treaty Creates Global Government Tax

Paul Joseph Watson
Prison Planet.com
Wednesday, December 9, 2009

Lord Christopher Monckton warns that the secretive draft version of the Copenhagen climate change treaty represents a global government power grab on an “unimaginable scale,” and mandates the creation of 700 new bureaucracies as well as a colossal raft of new taxes including 2 percent levies on both GDP and every international financial transaction.

Speaking with The Alex Jones Show, Monckton, who is in Copenhagen attending the UN climate summit, said that when he attempted to obtain a copy of the current draft of the negotiating text agreement, he was initially rebuffed before he threatened an international diplomatic incident unless the document was forthcoming.

“I insisted and it took about 10 minutes and they consulted each other with three or four of them arguing over it – none of them would produce the document….I said I know this treaty exists because this is what the conference is all about,” said Monckton.

Only after Monckton threatened repercussions was he handed the the current draft of the treaty, and the details it contained are perhaps a clue as to why the UN officials were so keen to keep it under wraps.

“Once again they are desperately trying to conceal from everybody here the magnitude of what they’re attempting to do – they really are attempting to set up a world government,” said Monckton, adding that the word “government” was no longer used but the process of further centralization of power into global hands was clearly spelled out in the treaty.

Monckton said that the new world government outlined in the treaty would be handed powers to, “Tax the American economy to the extent of 2 percent GDP, to impose a further tax of 2 percent on every financial transaction….and to close down effectively the economies of the west, transfer your jobs to third world countries – all of that is still in the treaty draft.”

As the leaked document out of Copenhagen reported on by the London Guardian revealed yesterday, this massive new system of global taxation will be paid not to the UN, but directly into the coffers of the World Bank.

“The draft hands effective control of climate change finance to the World Bank; would abandon the Kyoto protocol – the only legally binding treaty that the world has on emissions reductions; and would make any money to help poor countries adapt to climate change dependent on them taking a range of actions,” reported the Guardian.

Monckton illustrated the size of the new taxes being proposed by noting they amounted to at least half of the entire US defense budget.

“This is how they are going to fund this vast new government they’re setting up,” said Monckton, adding that he counted around 700 new bureaucracies that would be created as a result of the treaty, which would be bankrolled by taxpayers even outside of the raft of new taxes the treaty would create.

Monckton outlined how the new taxes would be enforced, stating, “They’re going to auction allowances to emit greenhouse gases and if you don’t buy an allowance to emit greenhouse gases, you won’t be allowed to emit them,” adding that the text contained a provision for a “uniform global levy of $2 dollars per ton of CO2 for all fossil fuel emissions,” as well as an additional tax on every commercial plane journey, except ones that go in or out of poorer countries.

There would also be a “global levy on international monetary transactions – that means every transfer of money across borders will be taxed,” said Monckton, adding that this would be on top of the GDP tax.

The treaty outlines, “Penalties or fines for non-compliance,” in developed countries and the creation of an international police force to “enforce its will by imposing unlimited financial penalties on any countries whose performance under this treaty they don’t like,” added Monckton, saying that it amounted to a total global government takeover on an “unimaginable scale”.

“We’re looking at a grab for absolute power and absolute financial control worldwide by the UN and its associated bureaucracies and 700 new bureaucratic bodies,” said Monckton.

Speaking about how such draconian measures were being forced through despite the recent scandal surrounding how key IPCC-affiliated scientists conspired to “hide the decline” in global warming, Monckton emphasized how the climate change establishment were still ludicrously attempting to downplay the significance of the climategate emails by merely repeating their already discredited propaganda about global warming.

“What has happened is that the mainstream media has done themselves terrible damage by signing up to this climate nonsense and then by servilely refusing to admit that climategate was happening, admit how serious it was and simply inform their readers of what was actually in these emails,” said Monckton, “Admissions that while they’re telling us, as the Met Office did just today, that today is the warmest decade since records began 150 years ago, privately what they’re saying in the climategate emails is ‘hey look we’ve got a temperature which has been falling and we can’t explain why and it’s a travesty that we can’t explain why’ – so they’re saying one thing to us publicly to maintain the scare that’s making them rich, and that’s what’s called fraud, it’s criminal fraud, and on the other hand they’re saying privately ‘oh dear oh dear we can’t account for the fact that there’s been no warming for the last 15 years’”.

Monckton said that the Copenhagen treaty meant America was in “immediate peril” of losing its freedom to a “sinister dictatorship” being formed under the contrived pretext of global warming.

Watch the five part interview with Monckton below.

URL to article: http://www.infowars.com/monckton-says-secretive-copenhagen-treaty-creates-global-government-tax/

Unredacted TSA Manual Posted on WikiLeaks

Kurt Nimmo
Infowars
December 8, 2009

	Click on the above image to download the PDF.

Apparently the legal staff at the Transportation Security Administration are as clueless and inept as the guys who search you at the airport. The TSA released a manual for flight and other screening procedures and thought they had done a knock-up job on redacting certain sensitive areas.

Problem is they attempted to do this with a PDF editor and blew it big time. Instead of printing the document and marking out the areas by hand, they merely placed black boxes over the text in the editor. Call it laziness or stupidity. Either way, the boxes were easily defeated because they are not part of the document. Even a sixth grader with rudimentary knowledge of Acrobat or other PDF editors knows this.

Obviously, the factotums at the TSA need to read one of those Dummy books. It is another example of the kind of help the government hires. And these guys want to run health care?

The areas outlined in red were formerly redacted (click on the image above to download the unredacted document). No telling how long this document will remain on the WikiLeak servers.

At any rate, the document reveals a few things the feds don’t want us to know. For instance, Section 2A-2 (C) (1) (b) (iv) addresses which twelve passports will instantly get you moved to secondary screening. Other juicy details include the procedure for CIA-escorted passengers to be processed and the calibration process of airport metal detectors.

All good stuff al-Qaeda would want to know – that is if they actually existed.

URL to article: http://www.infowars.com/unredacted-tsa-manual-posted-on-wikileaks/

John Lennon On the Myth of Over-population

Infowars
November 8, 2009

Today is the anniversary of John Lennon’s assassination. He was not killed by a deranged fan who read it in Catcher In The Rye. He was killed for expressing opinions like the one below.

URL to article: http://www.infowars.com/john-lennon-on-the-myth-of-over-population/

Ramping up Afghanistan war to control Caspian oil and gas transport routes

Jerry Mazza
Online Journal
December 8, 2009

The 800-pound gorilla standing in the auditorium at West Point is still waiting for an answer to why Obama made his surge-speech for 30,000 more troops and $30 billion to pay for them. That gorilla wonders “why” Obama pitched so hard for the US to stay and surge through Afghanistan and Pakistan. The reasons given were that the Afghanistan Taliban and Al Qaeda led by Osama bin Laden were the people that attacked us on 9/11, which was an iteration of George W. Bush’s reasons for the War on Terror. They are as phony now as the day Bush promised to smoke out Bin Laden.

But, here are Obama’s actual words, pointed out by Christopher Bollyn on page 2 of his article, Why Afghanistan?

“1. I am convinced that our security is at stake in Afghanistan and Pakistan. This is the epicenter of the violent extremism practiced by al-Qaeda. It is from here that we were attacked on 9/11, and it is from here that new attacks are being plotted as I speak.

“2. It is important to recall why America and our allies were compelled to fight a war in Afghanistan in the first place. We did not ask for this fight. On September 11, 2001, 19 men hijacked four airplanes and used them murder nearly 3,000 people.

“3: If I did not think that the security of the United States and the safety of the American people were at stake in Afghanistan, I would gladly order every single one of our troops home tomorrow.”

Also, as early as Oct. 14, 2001, a month and three days after 9/11, Bollyn wrote in The Great Game – The War For Caspian Oil And Gas: “President Bush’s ‘crusade’ against the Taliban of Afghanistan has more to do with control of the immense oil and gas resources of the Caspian Basin than it does with ‘rooting out terrorism.’

“Once again an American president from the Bush family is leading Americans down an oil-rich Middle Eastern warpath against ‘enemies of freedom and democracy.’

“President George W. Bush, whose family is well connected to oil and energy companies, has called for an international crusade against Islamic terrorists, who he says hate Americans simply because we are ‘the brightest beacon of freedom.’

“The focus on religion-based terrorism serves to conceal important aspects of the Central Asian conflict. President Bush’s noble rhetoric about fighting for justice and democracy is masking a less noble struggle for control of an estimated $5 trillion of oil and gas resources from the Caspian Basin.

Read entire article

URL to article: http://www.infowars.com/ramping-up-afghanistan-war-to-control-caspian-oil-and-gas-transport-routes/

Newspaper Establishes Registered Gun Database, Equates Gun Owners to Sex Offenders

NRA
December 8, 2009

On November 30, 2009, the Bloomington Herald-Times made the following announcement:

“This week, HeraldTimesOnline.com will launch its new gun permit database. You’ll be able to search gun permit records by county, city or town and street.”

The Herald-Times has begun receiving calls and emails, and their response is a defiant defense of their online gun permit database.

Anyone who visits the newspaper website will be able to search the number of permits on a given street or neighborhood. Although at this point the names and house numbers are not listed, the newspaper’s website treats law-abiding Indiana gun owners like sex offenders on a searchable database.

It is NRA’s firm belief that there is no public good served by the publishing or cataloguing private citizens’ gun ownership information, and that more harm is done by such an action. Law-abiding Hoosiers should not be subjected to the same treatment as sex offenders, and if the newspaper won’t listen to their constituents and customers, then NRA Members and Indiana gun owners should send a financial message by cancelling their subscriptions to the Bloomington Herald-Times.

Please contact the Bloomington Herald-Times to respectfully voice your displeasure at the irresponsible action the newspaper has made.

Scott Schurz, Sunday Hoosier Times/Editor-in-Chief

(812) 331-4250

Sschurz@heraldt.com

E. Mayer Maloney Jr., Publisher

(812) 331-4251

Mmaloney@heraldt.com

Bob Zaltsberg, Editor

(812) 331-4364

rzaltsberg@heraldt.com

URL to article: http://www.infowars.com/newspaper-establishes-registered-gun-database-equates-gun-owners-to-sex-offenders/

Depression Good for Reducing Carbon Emissions

Kurt Nimmo
Infowars
December 8, 2009

According to the U.S. Energy Information Administration, the United States has made remarkable progress in reducing carbon emissions. “Carbon dioxide output from the U.S. energy sector has probably fallen half as much as would be needed to meet the 2020 emissions reduction target the Obama administration took to the Copenhagen climate-change summit,” reports Bloomberg.

It is said the energy-related carbon dioxide emissions will be 5.45 billion tons this year, or 8.6 percent below the 2005 level of 5.96 billion tons. Prior to the Copenhagen climate scam confab, the Obama administration said the U.S. is willing to reduce carbon dioxide and other greenhouse gases “in the range of 17 percent” below the 2005 level by 2020.

As the EPA told us yesterday, such reductions will be imposed without input from Congress and the American people.

How did we get here? It’s the economy, stupid.

“Falling U.S. emissions are the result of the ‘weak economy,’ which grew at an annual rate of 2.8 percent in the third quarter after shrinking for a year, and a cleaner fuel mix in the electricity sector, the EIA said in its December Short-Term Energy Outlook,” writes Bloomberg.

Storm clouds on the horizon, however. “After falling 6.1 percent this year, energy-related CO2 emissions should increase 1.5 percent next year on ‘projected improvements in the economy,’ EIA said. This would put 2010 emissions at 7.2 percent below the 2005 level, making the 2020 target harder to reach relative to the 2009 total.”

Bummer. But fear not tree-huggers and would-be globalists. If the bureaucrats teaming up at Copenhagen as I write this have their way, they will cut the carbon emissions in stupendous fashion and usher in an era of permanent economic “recession.”

In order to realize this return to the Dark Ages in the name of polar bears and bankers, much of the world will necessarily need to be pitched into utter poverty. As the “Danish text” reveals, this is precisely what our global managers have in mind for the so-called third world.

“The UN Copenhagen climate talks are in disarray today after developing countries reacted furiously to leaked documents that show world leaders will next week be asked to sign an agreement that hands more power to rich countries and sidelines the UN’s role in all future climate change negotiations,” reports the Guardian this morning. “The so-called Danish text, a secret draft agreement worked on by a group of individuals known as ‘the circle of commitment’ – but understood to include the UK, US and Denmark – has only been shown to a handful of countries since it was finalized this week.”

Of course, when these guys say “rich countries,” they are not talking about the average American pleb or his counterpart in England or Europe. They’re talking about the bankers and transnational corporations. The so-called “circle of commitment” (to rob us blind and enslave us) is a creature of the World Bank and the IMF, two Frankenstein monsters created as a result of the one-worlder Bretton Woods Conference in 1944.

“The draft hands effective control of climate change finance to the World Bank,” the Guardian reports. In other words, the monetary aspect of the climate change scam predicated on junk science will be handled over to a notorious global loan shark syndicate already responsible for starving millions of people to death and enslaving billions more to an astronomical debt that can never be repaid and was in fact never meant to be repaid. The IMF and World Bank are about fire sales and stealing natural resources and other prized goodies around the planet.

Not a bad deal for “financial institutions” that create funny money out of thin air and pawn it off on corrupt dictators who then force their people to pay it all back with interest. The fire sales begin when the people are unable to pay off the interest let alone the principal.

In addition to forcing poor nations to live up to unrealistic carbon emission standards (designed to keep them mired in poverty and misery forever) the Danish text — let’s call it what it is, the bankster text — spells out how the global elite (”rich nations”) will further slice up and divide the third world and force them to tighten their belts even more than they are now tightened and make sure they never arrive in the twentieth first century, let alone the twentieth.

Much of the world now exists on less than two dollars a day. If the banksters have their way, a lot of them will be existing on fifty cents or less per day. It’s an ideal scenario for a gaggle of eugenicists who resent most of humanity.

But that’s only part of the story. The scheme will not be limited to the third world. The “rich nations” — or rather the people who live in them — will be forced into the New Dark Age as well.

On the Alex Jones Show today, Lord Monckton, reporting from the epicenter of the criminal conspiracy, revealed what the control freaks in high places have in mind for the “developed nations.”

The Copenhagen summit under the cover of an elaborately constructed climate religion facade will endeavor to build a taxation and world government structure that will impose a 2% levy on the GNP of the “rich nations.” It will create 700 or more bureaucratic globalist bodies and a totalitarian world police force that will go after the scofflaws. It will impose levies on airfares, on international monetary transactions (of folks who are not part of the bankster syndicate) and in general tax out of existence most aspects of modern life.

As the U.S. Energy Information Administration unwittingly revealed, “weak” economies and economic depression are good for reducing carbon emissions. The Copenhagen summit — with its tear-jerk apocalyptic movies and blathering scientists (never mind the emails and programmer notes) — is all about convincing us that we have to accept world government and global poverty in the name of saving the planet.

It is the biggest scam in history.

URL to article: http://www.infowars.com/depression-good-for-reducing-carbon-emissions/

Cap and Trade Is A Tax and It’s a Great Big One

The Heritage Foundation
December 8, 2009

Cap and Trade Top Ten List

Cap and Trade Is a Massive Energy Tax.

It Will Not Make A Substantive Impact on the Environment.

It Will Kill Jobs.

It Will Cause Electricity Bills and Gas Prices to Sharply Increase

It Will Outsource Manufacturing Jobs and Hurt Free Trade

It Will Make You Choose Between Energy, Groceries, Clothing, and Haircuts

It Will Be Highly Susceptible to Fraud and Corruption

It Will Hurt Senior Citizens, the Poor, and the Unemployed the Worst.

It Will Cost American Families Over $3,000 a Year.

President Obama Admitted “Electricity Rates Would Necessarily Skyrocket” under a cap-and-trade program (January 2008)

What Would Global Warming Regulations Do?

Lieberman-Warner: Last year, the Senate rejected cap-and-tax legislation that would have capped CO2 emissions 70% below 2005 levels by 2050. A Heritage analysis of that bill found startling economic impacts.

Markey-Waxman: The cap-and-trade tax proposed by Rep. Henry Waxman (D-CA) and Rep. Edward Markey (D-MA) would double down on last year’s failed scheme, bringing in trillions of dollars in taxes, making it one of the largest sources of revenue for the federal government.

Six Hundred Hurricanes Couldn’t Cause This Much Economic Damage: In the first 20 years, Lieberman-Warner would have destroyed nearly 3 million jobs, caused some manufacturing sectors to cut jobs by 50% and generated up to $300 billion per year in government revenue while reducing income by nearly $5 trillion. For comparison, this is equal to the economic damage done by over 600 hurricanes…and the Markey-Waxman bill is worse.

Green Jobs Are a Myth; Real Job Losses Are Not: For every “green job” created, others are wiped out. Job losses resulting from the Lieberman-Warner cap and trade would have surpassed 900,000 in some years. Keep in mind that this is net of any “green jobs” created.

New Version, More Expensive: Markey-Waxman will be much more costly than the bill rejected by the U.S. Senate last year. Such an expensive tax on all Americans is bad under normal circumstances and worse during a recession.

A “Carbon Constrained Future”

The Ultimate Outsourcing: India and China have repeatedly said they would not match U.S. environmental goals in order to protect their economies. Cap and trade will merely move manufacturing jobs to China and India.

By 2100: By EPA calculations, the Lieberman-Warner bill could at best result in a global drop in temperature of only 0.1 to 0.2 degrees Celsius by the year 2100.

A Carbon Tax Would Be No Different: Alternative carbon taxes share the central flaw of any other carbon reduction scheme. Similar to cap and trade, a carbon tax would cause significant economic damage and would do very little to reduce global temperatures.

An Alternative That Supports American Taxpayers: Instead of appeasing a radical environmental agenda, President Obama should give us access to all energy sources, including domestic oil production, nuclear energy, coal, and new renewable fuels. Instead of new taxes, the President should aim to lower gas and electricity prices. When government impediments are lifted, America’s energy entrepreneurs can develop innovative and market-driven solutions to our energy needs.

URL to article: http://www.infowars.com/cap-and-trade-is-a-tax-and-its-a-great-big-one/

Draft Copenhagen climate change agreement – the “Danish text”

The Guardian
December 8, 2009

Copenhagen climate summit in disarray after ‘Danish text’ leak

John Vidal
The Guardian

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The UN Copenhagen climate talks are in disarray today after developing countries reacted furiously to leaked documents that show world leaders will next week be asked to sign an agreement that hands more power to rich countries and sidelines the UN’s role in all future climate change negotiations.

The document is also being interpreted by developing countries as setting unequal limits on per capita carbon emissions for developed and developing countries in 2050; meaning that people in rich countries would be permitted to emit nearly twice as much under the proposals.

The so-called Danish text, a secret draft agreement worked on by a group of individuals known as “the circle of commitment” – but understood to include the UK, US and Denmark – has only been shown to a handful of countries since it was finalised this week.

Read entire article

URL to article: http://www.infowars.com/draft-copenhagen-climate-change-agreement-the-danish-text/

Copenhagen’s Hidden Agenda: The Multibillion Trade in Carbon Derivatives

Washington’s Blog
December 8, 2009

As I have previously shown, speculative derivatives (especially credit default swaps) are a primary cause of the economic crisis.

And I have pointed out that (1) the giant banks will make a killing on carbon trading, (2) while the leading scientist crusading against global warming says it won’t work, and (3) there is a very high probability of massive fraud and insider trading in the carbon trading markets.

Now, Bloomberg notes that the carbon trading scheme will be centered around derivatives:

The banks are preparing to do with carbon what they’ve done before: design and market derivatives contracts that will help client companies hedge their price risk over the long term. They’re also ready to sell carbon-related financial products to outside investors.

[Blythe] Masters says banks must be allowed to lead the way if a mandatory carbon-trading system is going to help save the planet at the lowest possible cost. And derivatives related to carbon must be part of the mix, she says. Derivatives are securities whose value is derived from the value of an underlying commodity — in this case, CO2 and other greenhouse gases…

Who is Blythe Masters?

She is the JP Morgan employee who invented credit default swaps, and is now heading JPM’s carbon trading efforts. As Bloomberg notes (this and all remaining quotes are from the above-linked Bloomberg article):

Masters, 40, oversees the New York bank’s environmental businesses as the firm’s global head of commodities…

As a young London banker in the early 1990s, Masters was part of JPMorgan’s team developing ideas for transferring risk to third parties. She went on to manage credit risk for JPMorgan’s investment bank.

Among the credit derivatives that grew from the bank’s early efforts was the credit-default swap.

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Some in congress are fighting against carbon derivatives:

“People are going to be cutting up carbon futures, and we’ll be in trouble,” says Maria Cantwell, a Democratic senator from Washington state. “You can’t stay ahead of the next tool they’re going to create.”

Cantwell, 51, proposed in November that U.S. state governments be given the right to ban unregulated financial products. “The derivatives market has done so much damage to our economy and is nothing more than a very-high-stakes casino — except that casinos have to abide by regulations,” she wrote in a press release…

However, Congress may cave in to industry pressure to let carbon derivatives trade over-the-counter:

The House cap-and-trade bill bans OTC derivatives, requiring that all carbon trading be done on exchanges…The bankers say such a ban would be a mistake…The banks and companies may get their way on carbon derivatives in separate legislation now being worked out in Congress…

Financial experts are also opposed to cap and trade:

Even George Soros, the billionaire hedge fund operator, says money managers would find ways to manipulate cap-and-trade markets. “The system can be gamed,” Soros, 79, remarked at a London School of Economics seminar in July. “That’s why financial types like me like it — because there are financial opportunities”…

Hedge fund manager Michael Masters, founder of Masters Capital Management LLC, based in St. Croix, U.S. Virgin Islands [and unrelated to Blythe Masters] says speculators will end up controlling U.S. carbon prices, and their participation could trigger the same type of boom-and-bust cycles that have buffeted other commodities…

The hedge fund manager says that banks will attempt to inflate the carbon market by recruiting investors from hedge funds and pension funds.

“Wall Street is going to sell it as an investment product to people that have nothing to do with carbon,” he says. “Then suddenly investment managers are dominating the asset class, and nothing is related to actual supply and demand. We have seen this movie before.”

Indeed, as I have previously pointed out, many environmentalists are opposed to cap and trade as well. For example:

Michelle Chan, a senior policy analyst in San Francisco for Friends of the Earth, isn’t convinced.

“Should we really create a new $2 trillion market when we haven’t yet finished the job of revamping and testing new financial regulation?” she asks. Chan says that, given their recent history, the banks’ ability to turn climate change into a new commodities market should be curbed…

“What we have just been woken up to in the credit crisis — to a jarring and shocking degree — is what happens in the real world,” she says…

Friends of the Earth’s Chan is working hard to prevent the banks from adding carbon to their repertoire. She titled a March FOE report “Subprime Carbon?” In testimony on Capitol Hill, she warned, “Wall Street won’t just be brokering in plain carbon derivatives — they’ll get creative.”

Yes, they’ll get “creative”, and we have seen this movie before …an inadequately-regulated carbon derivatives boom will destabilize the economy and lead to another crash.

URL to article: http://www.infowars.com/copenhagens-hidden-agenda-the-multibillion-trade-in-carbon-derivatives/