Hat Tip: Brian B.
Hat Tip: Brian B./Jean Stoner
PART ONE: Glenn Beck explains Obama, Al Gore, Goldman Sachs, and CCX
PART TWO: Glenn Beck explains Obama, Al Gore, Goldman Sachs, and CCX
Hat Tip: Brian B.
Food Freedom – S 510 is hissing in the grass (Hat Tip: Brian B.)
S 510, the Food Safety Modernization Act of 2010, may be the most dangerous bill in the history of the US. It is to our food what the bailout was to our economy, only we can live without money.
“If accepted [S 510] would preclude the public’s right to grow, own, trade, transport, share, feed and eat each and every food that nature makes. It will become the most offensive authority against the cultivation, trade and consumption of food and agricultural products of one’s choice. It will be unconstitutional and contrary to natural law or, if you like, the will of God.” ~Dr. Shiv Chopra, Canada Health whistleblower
ThirdWaveDave – TAHOE RESORT GOING OFF CLIFF; REID NOT FAR BEHIND
Kenneth Timmerman – Experts Warn of Escalating Chavez Threat
Kenneth Timmerman – Bin Laden in Iran, Documentary Claims
Fox Nation – Rush: ‘This Is the Regime At Its Racist Best’ (Hat Tip: Brian B.)
Tenth Amendment Center – States Revolt Against the Federal Government
Bookworm Room – Lowering the bar on incitements to violence
The Radio Patriot – The Congressional Black Caucus – liars?
The Radio Patriot – Arizona takes on LaRazabacks
The Radio Patriot – I love this gal and her ukelele
The Radio Patriot – “Why Goldman Sachs?” If you didn’t watch Glenn Beck’s TV show last night…
The Radio Patriot – Lt. Col. Terry Lakin: Like storming the beaches on D-Day
Hat Tip: Jean Stoner
First, there was Climate Gate – the scandal with hacked emails suggesting scientists have abused data for research on global warming. Now, another international climate scandal is emerging that may have an impact on the talks in Copenhagen.
Europe’s top police body Europol, the closest thing that European Union has to the American FBI, has exposed a massive fraud with the unions official market in carbon credits, the Emission Trading System.
The fraud is costing tax payers in a handful of European countries more than five billion euro – 7 billion dollars – and raises doubts about the effectiveness of carbon trading as a measure to curb emissions.
Europol director Rob Wainwright issued the following statement:
These criminal activities endanger the credibility of the European Union Emission Trading System and lead to the loss of significant tax revenue for governments.
Police authorities in Belgium, Denmark, France, the Netherlands, Spain and the United Kingdom have worked together in what Europol calls a process to identify and disrupt the organized criminal structures behind these fraud schemes.
Lets see if we can explain the scheme, using this graphic provided by Europol.
The fraud is based on a what is tax experts and investigators call as a Carousel fraud with missing traders.
This carousel generates money by stealing value added tax from governments.
The first step of the criminals is to open a trading account with a national carbon registry, in the name of a newly registered company.
From there, this company buys EU emission allowances in another country on one of the six official carbon exchanges in Europe.
After that, these emission allowances are moved to another country, and subsequently sold to an unregulated broker in yet another country.
This broker then charges VAT on these transactions but does not pay the collected VAT to the tax authorities.
Just before the tax authorities realize that this company owes them huge amounts of VAT, basically a period of a few months, the company and its owners disappear.
A new company is set up, using other front men, to repeat the carousel. Crime rings that run such schemes can have several dozen or hundreds of companies whose real owners are difficult to trace.
Basically, this type of fraud is possible because European countries continue to disagree on single market tax legislation. Carousel fraud is a constant feature in the European cross-border market and until recently only happened with shipments of valuable goods such as iPods or flat-panel tvs, not with carbon credits.
Europe’s tax commissioner, in an interview with EUX.TV, has estimated the damage from these carousel frauds at more than 60 billion euro per year as European finance minister continue to disagree on effective measures to fight this fraud.
The Emission Trading System system was set up in 2005 as part of Europe’s efforts to curb emissions of greenhouse gases. That topic now is at the top of the agenda at the UN Climate summit in Copenhagen this week and next. This unprecedented and massive fraud is likely to prove a major embarrassment for EU negotiators.
This is a great interview with Michael Johns. This is one of a few interviews taken at the April 15th 2010 Tea Party in Trenton, NJ. In brief, it tells you what the Tea Party is and explains the concerns that have galvanized Americans across the nation, regardless of political background to come to the movement.
Pataki Says Obamacare Can Be Repealed (Hat Tip: Brian B.)
Bloomberg’s Offshore Millions (Hat Tip: Brian B.)
Glenn Beck Radio: Obama, Al Gore, Goldman Sachs and the CCX trading scheme (Hat Tip: Brian B.)
Portuguese Five-Year CDS at Record High, Spread Wider. Can you spell D-E-F-A-U-L-T, boys and girls?
Hat Tip: Brian B.