If you think the housing and credit bubble diminished your financial security and your community, or the bailouts, or the rising gas prices did as well, hold on to your hat. The worst may be yet to come. Carbon trading is gearing up to make the housing and derivatives bubbles look like target practice.
Here are some comments on H.R. 2454, the American Clean Energy and Security Act of 2009:
“economic colonization of the heartland”
-Rep. Geoff Davis (R-Kentucky)
“a scam”
-Rep. Devin Nunes (R-California)
“massive transfer of wealth”
-Rep. James Sensenbrenner (R-Wisconsin)
“Carbon markets can and will be manipulated using the same Wall Street sleights of hand that brought us the financial crisis.”
-Rep. Dennis Kucinich (D-Ohio)
And from Elizabeth Kolbert’s New Yorker interview with James Hansen, NASA’s climate expert:”Hansen pointed out that the bill explicity allows for the construction of new coal plants and predicted that it would, if passed, prove close to meaningless. He said that he thought it would probably be best if the bill failed…”
The best description to date can be found in Matt Taibbi’s wonderful article, “The Great American Bubble Machine: From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression – and they are about to do it again.”
Taibbi describes recent bubbles including “The Housing Craze,” “$4 a Gallon,” and “Rigging the Bailout.” He goes on to predict that Goldman’s extraordinary investments in lobbying to create a new carbon-credit market which will be rewarded with the biggest bubble so far.
Given Goldman’s historical dependency on their lead counsel, Sullivan & Cromwell, and their ties to the intelligence community, whatever Goldman is engineering, there is a deeper story worth contemplating. The de-industrialization of the United States is well underway and a reorganization of North American society is beginning.
Will thousands of people committed to relocalization jump into the carbon credit bubble and increased depedency on corporate profits and Wall Street-Washington rigged schemes? Indeed, it is possible.
Meantime, Al Gore is apparently denying Goldman’s leadership in the newest bubble. Given Gore’s historical ties to Goldman and what is emerging here in Al Gore’s home base here in Tennessee, I’m a sceptic.
Catherine, I’m curious about your thoughts on the Feinstein/Snow amendment recently introduced to the Senate. Folks like Andy Stevenson over at the NRDC are raving about it, and I personally see it as a good step in the right direction, and am glad that at least a few regulators/congresspeople are doing more than complain or murmur apocalyptic predictions.
With that said, it’ll probably get gutted in committee if anything – my greatest hope is that it at least manages to alter the framing of the senate climate bill (if one can trust John Kerry, it already has).
Does it go far enough? Will it survive intact enough to prevent an unsustainable bubble?
I’d love to see what you think.
-Noah Wilson
Brock:
This fall we will see a rapid acceleration in the reengineering of the legal and governance structure in place in North America.
Brad:
Pretty funny. As Bert said in another post, we are being pushed into a tight box.
Bert:
Question is how to act in concert. For many years, I have found that when I act, it simply creates an opportunity for others to sell out to the NWO for a bit more money, leaving me high and dry. I am happy to keep doing what I am doing — I don’t do it for money or because people do or do not follow me. However, the dynamic is the same for others as it is for me.
How do we organize to ensure our gains are real gains, not just opportunities for free riding?
Catherine
Second thoughts – maybe “Pop and Raid.”
Best Regards, Brad
Catherine,
I just want to mention a couple of things here. I listened to the interview with you on Veritas and I must say it was the best interview I’ve heard as it touched on so many subjects. Your way of communicating your experience and thoughts really helped me understand the system and what one can do to combat the harsh realities one faces.
I recently read the Rolling Stone article and I’ve come up with an alternative to Goldman Sachs and Al Gores interest in “Cap and Trade.” How about “Tap and Raid” as their M.O. – I think this works from what I’m reading and seeing. God help us all.
BGBurch
“a reorganization of North American society is beginning”
Could you please elaborate on this?
Catherine,
I would appreciate your insight as to what the stock market is likely to do with cap and trade and the healthcare fiasco. I own a very stable stock that has performed well even with all the instability. It is a well managed company. However, it has seen fluctuation in stock value due to the trends in the overall market. Are stocks likely to rally upward as the cap and trade crowd investments (G.E., etc.) and the healthcare overhaul crowd play on investment opportunities these events may stimulate? I am asking because even though the stock I hold is an excellent one, I am planning to sell and pay down debt in preparation for the very rocky road I see again, and timing in life is everything. I don’t want to sell too soon and miss any rally, however, I don’t want to get caught and lose either. Your thoughts please. Thank you.