The Chicago Climate Exchange Scam

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

examiner.com – Scandal: Obama, Gore, Goldman, Joyce Foundation CCX partners to fleece USA

The Right Scoop – Glenn Beck Radio: Obama, Al Gore, Goldman Sachs and the CCX trading scheme

Chicago Climate Exchange


Links To Visit – 04/27/10

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


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

WND – Meet stunning Americans looking to dethrone Pelosi

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

Continue reading


Organized Crime in Charge of EU Carbon Trade, Europol Says

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.


We The People – Speakout

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.


Financial News Update – 04/27/10

S&P Slashes Portugal’s Ratings, Downgrades Greece to Junk


Doubts intensify

Spreads to Portugal

Orszag warns of danger

Thousands Of NJ Students Walk Out To Protest Budget Cuts

Deficit panel leader says Obama will OK findings

Senate GOP blocks action on financial regulation bill again

Pataki Says Obamacare Can Be Repealed (Hat Tip: Brian B.)

Unbelievable: Obama’s Budget Director: Powerful Rationing Panel Will Control Health Care Levels . . . “Advisory Board’s Proposals Take Effect Automatically” (Hat Tip: Brian B.)

Democrats, undaunted, keep focus on Wall Street

EDITORIAL: Meltdown of the climate-change bill

Next in health care war: Applying the law

The PIIGS are Eating Our Money

Germany, France press Greece over austerity measures

Morning Bell: The Obama Fiscal Responsibility Farce Continues

Government Unions Are the Big Winners in Obama Economy

Side Effects: Special Treatment for Congress

VAT Finds Favor with Debt Commission Co-Chairman Bowles

Democrats Kill Financial Reform Loophole Pushed By Buffett

Economists: Obama Stimulus, Jobs Bill Didn’t Help Recovery

What Lies Beneath (Hat Tip: Kim Priestap)

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.)

Euro Gold and the Euro Zone

Obama Admin Buried Report on Cost of ObamaCare Until After Vote (Hat Tip: WhenIfHow)

POLL: Most Greeks disapprove of EU/IMF aid deal

Transport on strike as anger grows

Greece, Portugal Lead Stock Declines on Contagion Concern

Harrisburg, Pennsylvania to Consider Bankruptcy

Tent City In New York Set Up In Hopes For Elevator Job

Camped out for 3 days for chance at getting an application

Unemployment challenges Obama’s economic storyline

Top Dem holds Wall Street fundraiser during Wall Street bill debate

FoxBusiness: New Details Emerge in Goldman Case

Senators Slam Goldman, Accuse Firm of ‘Unethical’ Bet Against Housing Market

Senate to Hold Second Vote on Financial Bill

It’s All ‘on the Table’ — Even National Sales Tax

Debt Panel — or Obama Tax Screen?

Ford Posts $2.1B Profit in First Quarter

Lawmakers Accuse GM of Misleading Public

Energy Co. to Move Workers Ahead of Senate Probe


Iceland reports record 34 percent inflation

Portuguese Five-Year CDS at Record High, Spread Wider. Can you spell D-E-F-A-U-L-T, boys and girls?

Forget 10% Unemployment, The Real Job Loss Pain Number is 54%

U.S. Food Inflation Spiraling Out of Control

10 Cities Facing a Double Whammy of Default Risks

The Housing Crash Has Just Started; Get set for falling prices again. Round two is about to begin.

Greek Bond Market Crash, Greek Budget Deficit Worse Than Feared

Marc Faber Says Holding Cash Will Be A Disaster, Investors Should Accumulate Gold

Why are US Stocks an the US Dollar Rising?

The Devaluation of the US Dollar, Gold’s Springboard

US Housing Market Crash Update, There’s a World of Pain Ahead

Financial Reform Bill Will Devastate US Economy

US in the Midst of the Greater Depression, Fourth Turning Generational Crisis