The $10 Trillion Climate Fraud

 

Cap-And-Trade: While senators froth over Goldman Sachs and derivatives, a climate trading scheme being run out of the Chicago Climate Exchange would make Bernie Madoff blush. Its trail leads to the White House.

Lost in the recent headlines was Al Gore’s appearance Monday in Denver at the annual meeting of the Council of Foundations, an association of the nation’s philanthropic leaders.

“Time’s running out (on climate change),” Gore told them. “We have to get our act together. You have a unique role in getting our act together”.

Gore was right that foundations will play a key role in keeping the climate scam alive as evidence of outright climate fraud grows, just as they were critical in the beginning when the Joyce Foundation in 2000 and 2001 provided the seed money to start the Chicago Climate Exchange. It started trading in 2003, and what it trades is, essentially, air. More specifically perhaps, hot air.

The Chicago Climate Exchange (CCX) advertises itself as “North America’s only cap-and-trade system for all six greenhouse gases, with global affiliates and projects worldwide.” Barack Obama served on the board of the Joyce Foundation from 1994 to 2002 when the CCX startup grants were issued. As president, pushing cap-and-trade is one of his highest priorities. Now isn’t that special?

Few Americans have heard of either entity. The Joyce Foundation was originally the financial nest egg of a widow whose family had made millions in the now out-of-favor lumber industry.

After her death, the foundation was run by philanthropists who increasingly dedicated their giving to liberal causes, including gun control, environmentalism and school changes.

Currently, CCX members agree to a voluntary but legally binding agreement to regulate greenhouse gases.

The CCX provides the mechanism in trading the very pollution permits and carbon offsets the administration’s cap-and-trade proposals would impose by government mandate.

Thanks to Fox News’ Glenn Beck, we have learned a lot about CCX, not the least of which is that its founder, Richard Sandor, says he knew Obama well back in the day when the Joyce Foundation awarded money to the Kellogg Graduate School of Management at Northwestern University, where Sandor was a research professor.

Sandor estimates that climate trading could be “a $10 trillion dollar market”. It could very well be, if cap-and-trade measures like Waxman-Markey and Kerry-Boxer are signed into law, making energy prices skyrocket, and as companies buy and sell permits to emit those six “greenhouse” gases.

So lucrative does this market appear, it attracted the attention of London-based Generation Investment Management, which purchased a stake in CCX and is now the fifth-largest shareholder.

As we noted last year, Gore is co-founder of Generation Investment Management, which sells carbon offsets of dubious value that let rich polluters continue to pollute with a clear conscience.

Other founders include former Goldman Sachs partner David Blood, as well as Mark Ferguson and Peter Harris, also of Goldman Sachs. In 2006, CCX received a big boost when another investor bought a 10% stake on the prospect of making a great deal of money for itself. That investor was Goldman Sachs, now under the gun for selling financial instruments it knew were doomed to fail.

The actual mechanism for trading on the exchange was purchased and patented by none other than Franklin Raines, who was CEO of Fannie Mae at the time.

Raines profited handsomely to the tune of some $90 million by buying and bundling bad mortgages that led to the collapse of the American economy. His interest in climate trading is curious until one realizes cap-and-trade would make housing costlier as well.

Amazingly, none of these facts came up at Senate hearings on Goldman Sachs’ activities, which may be nothing more than Ross Perot’s famous “gorilla dust,” meant to distract us from the real issues.

The climate trading scheme being stitched together here will do more damage than Goldman Sachs, AIG and Fannie Mae combined. But it will bring power and money to its architects.

Source: http://www.investors.com/NewsAndAnalysis/Article.aspx?id=531731

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One comment on “The $10 Trillion Climate Fraud

  1. Why does Raines Freddie/Fannie own the patent for CO2 carbon computer that some guy who died on 9/11 invented?? The Democratic congress gave it to Raines Nov 2008.. 44 % of the people killed on 9/11 were in competetion with CCX,,Chicago Climate Exchange. Poor souls …Al Gore, Ohbummer and Maurice Strong, plus whatever Congress and House member who own stock in CCX will make TRILLIONS if the can pass Cap & Trade..Funny how that bill they passes yesterday does not include Fanny/Freddie, and Dobbs and Frank that cause the mess will not be investigate,,I think they have a lot of money riding on this Dark Horse!!!

    {{Interesting twist to 9/11::The people at Northwestern University who ran the cap-and-trade simluation which demonstrated the profits possible with a 350ppm cap, also partnered with Boeing and Honeywell to guide the planes on 9/11 and sabotage the evacuation of their number one rival CO2e.com from the North Tower.

    The ADT dispatcher.told everyone in the Twin Towers to return to their offices on 9/11 where Honeywell / Vulcain ventilation systems were rigged to kill them with a toxic/explosive mix of gases

    9/11 real purposes was to scare the climate deniers and remove the competition to the racketeering launch of the Chicago Climate Exchange by Al Gore and Maurcie Strong and Richard Sandor.}}

    “Were Marsh & McLennan, Cantor Fitzgerald/CO2e.com/eSpeed and Aon Corp destroyed to eliminate the competition in a future multi-trillion dollar carbon trading market?”

    “Cantor Fitzgerald/CO2e.com/eSpeed held the patent on the unique software which would be used in the future carbon emissions trading which will result in trillions of dollars of trades. The Carbon Disclosure Project (CDP) located at 10 Downing Street is currently estimated at $64 trillion.”

    “In 2000, the Joyce Foundation provided a grant to Richard Sandor and Northwestern University’s Kellogg School of Management to develop a competing carbon trading software. At the time, Barack Obama was on the board of directors for the foundation. A second grant was made in 2001 and eventually led to the birth of the Chicago Climate Exchange (CCX) the only emissions reduction and trading system for all six greenhouse gases and the only operational cap and trade system in North America.”

    “The Obama administration is currently strongly pushing carbon emission policy. While leaning heavily on congress, they have also instructed the Environmental Protection Agency to declare CO2 a dangerous threat to human health which will lead to regulation of carbon emissions.””
    Powerful forces behind the scenes appear to be orchestrating events to set up and profit from a carbon emissions trading system worth trillions of dollars.

    The impact area of American Airlines Flight 11 in the North Tower was the offices of Marsh & McLennan. ( See below)

    The offices above Marsh & McLennan were primarily Cantor Fitzgerald/CO2e.com/eSpeed. Cantor Fitzgerald was cut off from the rest of the building by the impact and suffered the greatest single loss by any company on 9/11. 658 of its employees died in the north WTC tower. [Business Week, 9/11/2006]

    But Thomas Barnett’s two “mentors” at the firm that he interacts with—Bud Flanagan and Philip Ginsberg—are both out of the building at the time, for “accidental reasons,” and survive the attacks. [Institute of International Studies]

    Marsh & McLennan loses 295 employees & 60 contractors.

    In the South Tower, United Airlines Flight 175 impacts a zone mostly occupied by Fuji Bank. The Aon Corporation offices are above the impact area and they are also cut off. 175 employees of Aon Corp. die in the attacks.

    There were 2605 deaths in 2 towers that day. Marsh & McLennan, Cantor Fitzgerald/CO2e.com/eSpeed and Aon Corp lost a total of 1153 people. That is just over 44% of the total deaths—a staggering proportion.

    The employees of these 3 companies constituted a small fraction of the total number of individuals in the two towers but accounted for 44% of the deaths.”” (#1)

    “From the Washington Examiner:

    When he wasn’t busy helping create a $127 billion mess for taxpayers to clean up, former Fannie Mae Chief Executive Officer Franklin Raines, two of his top underlings and select individuals in the “green” movement were inventing a patented system to trade residential carbon credits.

    Patent No. 6904336 was approved by the U.S. Patent and Trade Office on Nov. 7, 2006 — the day after Democrats took control of Congress. Former Sen. John Sununu, R-N.H., criticized the award at the time, pointing out that it had “nothing to do with Fannie Mae’s charter, nothing to do with making mortgages more affordable.”

    It wasn’t about mortgages. It was about greenbacks. The patent, which Fannie Mae confirmed it still owns with Cantor Fitzgerald subsidiary CO2e.com, gives the mortgage giant a lock on the fledgling carbon trading market, thus also giving it a major financial stake in the success of cap-and-trade legislation.

    Besides Raines, the other “inventors” are:

    * Former Fannie Vice President and Deputy General Counsel G. Scott Lesmes, who provided legal advice on Fannie Mae’s debt and equity offerings;

    * Former Fannie Vice President Robert Sahadi, who now runs GreenSpace Investment Financial Services out of his 5,002-square-foot Clarksburg home;

    * 2008 Barack Obama fundraiser Kenneth Berlin, an environmental law partner at Skadden Arps;

    * Michelle Desiderio, director of the National Green Building Certification program, which trains “green” monitors;

    * Former Cantor Fitzgerald employee Elizabeth Arner Cavey, wife of Democratic donor Brian Cavey of the Stanton Park Group, which received $200,000 last year to lobby on climate change legislation; and

    * Jane Bartels, widow of former CO2e.com CEO Carlton Bartels. Three weeks before Carlton Bartels was killed in the Sept. 11 attacks, he filed for another patent on the software used in 2003 to set up the Chicago Climate Exchange.

    The patent, which covers both the “cap” and “trade” parts of Obama’s top domestic energy initiation, gives Fannie Mae proprietary control over an automated trading system that pools and sells credits for hard-to-quantify residential carbon reduction efforts (such as solar panels and high-efficiency appliances) to companies and utilities that don’t meet emission reduction targets. Depending on where the Environmental Protection Agency sets arbitrary CO2 standards, that could be every company in America.

    The patent summary describes how carbon “and other pollutants yet to be determined” would be “combined into a single emissions pool” and traded — just as Fannie’s toxic portfolio of subprime mortgages were.

    “Fannie Mae earns no money on this patent,” communications director Amy Bonitatibus told the Washington Examiner. “We can’t conjecture as to the cap-and-trade legislation”” (#2)

    “Know the crooks and their roles:
    George Soros, Joyce Foundation and connection to CCX.

    What is CCX, the Chicago Climate Exchange, projected to gross 10 Trillion a year is Cap-N-Tax passes. Obama played a pivotal role in the formation of the CCX. (Click here for expose)

    Barrack Hussein Obama, Board Member of the Joyce Foundation, funded the formation of the CCX. (
    Valerie Jarrett is still on the board, Obama’s top adviser.) Obama sat on board and funneled money to Ayer’s brother (wild huh, just a guy in his neighborhood) and to form the CCX.

    AL Gore–Goldman Sachs– GIM: Hold on to your britches, London-based Generation Investment Management sees the Trillion and they purchased a huge stake in Chicago Climate Exchange (fifth largest shareholder.) The founder of GIM is none other than former Vice President Al Gore along with Goldman people. For example other founders are David Blood (former Goldman executive), Mark Ferguson (Goldman) and Peter Harris (Goldman) to name a few.”

    Franklin Raines, mega crooked banker and bust Fannie Mae head, uses Fannie Mae (taxpayers money) to buy the technology to measure and manage carbon. The patent was award the day after Obama and Dems won the election.

    Goldman Sachs owns ten percent of the CCX and its 10 Trillion a year potential. (CCX is 10% owned by Goldman Sachs (GS) and 10% owned by Generation Investment Management (GIM).) Gore, Goldman, and Cap and Trade – Tangled Web of Corruption” (#4)

    “If we follow the time line on where Obama was during the funding of the Chicago Climate Exchange, he was still a professor at the University of Chicago Law School teaching constitutional law, with his law license becoming inactive a year later in 2002.

    It may be interesting to note that the Chicago Climate Exchange in spite of its hype, is a veritable rat’s nest of cronyism. The largest shareholder in the Exchange is Goldman Sachs. Chicago Mayor Richard M. Daley is its honorary chairman, The Joyce Foundation, which funded the Exchange also funded money for John Ayers’ Chicago School Initiatives. John is the brother of William Ayers.

    What a flap when it was discovered that the senator from Chicago had nursed on Saul Alinsky’s milk, had his political career launched at a coffee party held by domestic terrorist Bill Ayers, and sat for 20 years, uncomplaining in front of the “God-dam-America pulpit of resentment-challenged Jeremiah Wright.

    Folk were naturally outraged that the empty suit who would go on to become TOTUS was spawned from such anti-American activism.

    But the media should have been hollering, “Stop Thief!” instead.

    The same Chicago Climate Exchange promoting public rip-off was funded by Obama before he was POTUS.

    Even as man-made global warming is being exposed as a money-generating hoax, Obama is working feverishly to push the controversial cap-and-trade carbon reduction scheme through Congress.

    Obama was never the character he created for himself in the fairy-tale version in “Dreams of My Father”. He’s the agent of Change and Hope for cohorts making money down at the Chicago Climate Exchange.” (#5)

    “In closing, an article that appeared in FrontPage about a year ago, noted that “CCX’s members include Ford, DuPont, Dow Corning and the states of Illinois and New Mexico. CCX also owns 50 percent of the European Climate Exchange (ECX), which features such members as Shell, British Petroleum, Barclays—and Goldman Sachs.” British Petroleum—better known as BP.
    http://canadafreepress.com/index.php/article/22810

    Enough! We The People demand that a RICO investigation and criminal charges be initiated to uncover the criminal actions of this administration and all of its radical cohorts in crime, like GE, BP, Goldman Sachs, the labor unions, Fannie and Freddie, ACORN, Organizing for America, George Soros, Maurice Strong, Warren Buffett, Al Gore, The Progressive Caucus, anyone who has close ties to this administration.”

    This is a cabal of crooks. All legislation should be halted until this is done. We, The People will not stop. We will know justice. We demand that you do your duty and uphold the oath you took to defend the Constitution. Our Country is depending on you like at no other time in history. (#6)

    Once again, of course, Barack Obama is front and center, along with the Chicago Climate Exchange, the Joyce Foundation, George Soros, Maurice Strong, Edmund de Rothschild, the Federal Reserve, Goldman Sachs, George W. Bush’s Treasury Secretary Henry Paulson, even Fannie Mae, and many others. It entails global Marxofascism / global kleptocracy, with Americans being the chief victims, while a few overlords rule at, and their financiers skim off, the top. If any “mainstream” reporters cared to cover this thoroughly (and could) they could be much bigger characters in U.S. and world history than Woodward and Bernstein. And as for Americans willingly instigating this, it is treason.
    http://investigatingobama.blogspot.com/2010/04/greatest-scandal-in-modern-history.html

    see the brilliance of the plan..Bush’ watch,,bush’s fault..no connections to the chicago boys,,then Ohbummer says the the oil leak is like 9/11..they always return to the scene of the crime..why do they all protect him to a fault,,like picking an actor for their next soap opera drama,,Harry reid’s statement,,put a suit on that boy and he’ll work. fine,,paraphrase,,henry kissinger,,said O was poised in the art of deception,,he can play the part of the prez..everyone knows about soros,,he’s big enough to take the heat,,it’s not what see,,it’s there hole card,,,and the hole card was Cap & trade,,and viola,,Flight 93 landed at it’s target,,Nov 2008..

    (#1) http://www.abeldanger.net/2010/04/specific-companies-in-world-trade.html

    (#2) http://climateerinvest.blogspot.com/2010/04/fannie-mae-owns-patent-on-residential.html

    (#4) http://www.examiner.com/x-14143-Orange-County-Conservative-Examiner~y2010m4d27-Scandal-Obama-Gore-Goldman-Joyce-Foundation-CCX-partners-to-fleece-USA

    (#5) http://warofillusions.wordpress.com/2009/03/30/obama-maurice-strong-al-gore-key-players-cashing-in-on-chicago-climate-exchange/

    (#6) http://investigatingobama.blogspot.com/2010/06/rico-investigation-needed-now-about.html

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