Here’s part of an interview on Amy Goodman’s “Democracy Now” about this Wall Street fantasy. Amy’s talking with Arun Gupta of The Indypendent:
And there’s a lot of talk now also about a green-collar economy. I think that’s very important, but one of the reasons that it’s important to ban derivative trading is the investment banks are salivating over a green-collar economy, and that needs to be explained why, because they are—have set up trading desks. It’s estimated that carbon trading, the idea of trading in pollution rights, in ten years will be larger than all energy markets combined. So they’re looking to make a killing off of it. They’ll create derivative instruments, and this will just create another bubble.So we need to be now thinking about clearly exactly what to do to put in progressive ideas and to prevent this disaster from happening again.
The White House will use a portion of this tax to fund their “Wars for Empire and Israel.”
And We the People will be left holding the bill…. again.
Don’t buy the hype of the innocuous sounding Save Our Climate Act of 2009 , it’s just another massive fraud being perpetuated by the same clowns that told us Saddam had “nooks,” and that 19 crazed Muslim fundies attacked us on 9/11.
Now, according to the Wall Street Journal, the economists who invented the entire cap-and-trade concept say it probably won’t work in regards to climate change.
Whatever you think about global warming, carbon trading is a scam which will only create a new profit-making machine and speculative bubble for Goldman Sachs, JP Morgan and the rest of the boys who caused the financial crisis.