I first sent an email with the following material to people back on 28th March 2012.
“How did they resolve that crisis in Greece because they came out first with a number of 3.5 billion and then they started to ratchet it higher now they’re saying they’re just tearing up contracts.”
BIS: Clearing CDS through a CCP could cost “G14 dealers” $100B in margin requirements
This is why the big banks will never pay out on the CDS they sold while they got the taxpayer to pay out on the CDS they bought from AIG.
Each of these G14 dealers have CDS they have bought from other dealers and CDS they have sold to other dealers and attached is the picture from the Zerohedge article of how $42+ TRILLION CDS cross exposures breakdowns among these G14 dealers.
If these contracts are indeed being torn up then the $42+ TRILLION CDS market will go to $ZERO and I say good riddance.
Much bigger than the CDS market is the $400 TRILLION Interest Rate Swap market and this will also go to $ZERO and I also say good riddance.
CDS Trader comes clean – ‘a fatally flawed product’ … understatement
“What is the gross quantity of CDS you’ve traded over the past 15 years ? … A lot”
“Going forward what’s going to be your volume ? … Zero.”
“Ambiguous, vague, incomplete.”
“the ISDA stats that indicates “The total combined notional amount outstanding of interest rate, credit, and equity derivatives at June 30, 2010 was $466.8 trillion”.”
Goldman: “Greece Post PSI” (2012-03-09)
“After all Goldman is a key member of the ISDA’s European Determination Committee (and co-chairman with JPM of our very own Treasury Borrowings Advisory Committee). Not to mention that Goldman is the firm that allowed the Greek default to happen in the first place, by allowing it to hide its unprecedented debt accumulation far beyond what was allowed by the Maastricht treaty.”
There it is, in broad daylight. We live in a world of conflict of interest.
“more effective rule of law” ?
How about prosecuting Goldman Sachs for hiding some of the Greek government debt where the Eurozone currency people wouldn’t see it ?
CME Withdraws from European Derivative Responsibilities (2012-03-14) – to avoid the explosion ?
“There is a RAGING wildfire behind the scenes as the entire $50,000,000,000,000 Credit Default Swap market is imploding due to the Greek default. The losses will come fast and furious once the auction is held on March 19th. The ISDA’s 2009 “Big-Bang Protocol” will be put to the test next week.”
Final Results Of Greek CDS (2012-03-19) Auction: 21.5% Final Settlement Pricehttp://www.zerohedge.com/news/final-results-greek-cds-auction-215-final-settlement-price
“For those who bought at par, we can only hope they have arrangements with the ECB to fund the shortfall”
Greek CDS Settlement (2012-03-20) – 3 Wrongs Do Make A Right
Definitive on Derivatives Blowup – Ponzi’s Fail in Contraction (2012-03-27) by Warren Pollock, Wall Street executive
”indicative of the first guy out of the door of a movie theatre that is caught on fire and with Greece event what happened was that these derivative instruments were placed at risk, at performance risk, they’re all going to fail, those were the ones related to Greece. And what they decided to do was to cover the losses of this Greek event and in hindsight of this event this realisation that these things are fraudulent caused this market to shrink from $247 TRILLION to $230 TRILLION.”
With the CDS derivative market having shrunk by nearly 7% since March 20th we might not have long before it reaches terminal velocity.
JP Morgue’s Whistle Blower and Monday’s Greek CDS Auction
“Yesterday, JP Morgue whistle blower disclosed JPM’s $1 trillion in Greek CDS on their balance sheet.”
Greek government debt is three hundred and something billion euros so what the hell is JP Morgan doing with 1 trillion dollars of Greek CDS ?
BATS IPO Flash Crashes – “crashes from $15.75 to $0.038 in minutes”
“We note that there were some trades executed at $0.00!”
“Pretty much tells us all we need to know about the stability of broken market structure”
BATS Withdraws IPO
I thought I had seen everything but I haven’t.
SkyNet Wars: How A Nasdaq Algo Destroyed BATS
“What happened is that a malicious, 100% intentional Nasdaq algorithm purposefully brought BATS stock to a price of 0.00 within 900 millisecond of the company’s break for trading! This is open SkyNet warfare.”
“The fact that the BATS exchange itself halted just prior to break only facilitated this (and could potentially be a case of malicious sabotage). But one thing is clear – as the data below shows, there is no doubt that an Intermarket Sweep Order originating on the Nasdaq exchange was unleashed to make a mockery out of BATS.”
Ex-Goldman Exec Comes Clean On How A “Toxic And Destructive” Goldman “Rips Its Clients Off”
My Statement Regarding Greg Smith’s Goldman Resignation by Nomi Prins former MD of Goldman Sachshttp://sgtreport.com/2012/03/my-statement-regarding-greg-smiths-goldman-resignation/
Matt Taibbi on the Explosive Resignation of Goldman Sachs Executive Greg Smith
Jamie Dimon Warns Employees To Stay Mum On Muppetgatehttp://www.zerohedge.com/news/jamie-dimon-warns-employees-stay-mum-muppetgate
We’re all muppets in the eyes of the banksters.
I first sent an email with the following material to people back on 26th February 2012.
Attached are the charts that show the quantity of paper promises to deliver a commodity on the futures market that are plotted in ascending quantity from left to right.
Notice where the 4 precious metals are, they are all on the right hand side. And notice what their order is, it is palladium then platinum then gold then SILVER.
If these market participants have the the promised quantity of physical commodity to deliver to the market then all is well but you should ask yourself ‘do I trust these market participants?’
If these market participants do not have the promised quantity of physical commodity to deliver to the market then these paper promises are fooling the market into mispricing each commodity to the downside and the market will not stay fooled forever.
This shows how afraid the banksters are of physical silver.
I got from the more recent chart from http://www.brotherjohnf.com/uncategorized/sunken-coins-bound-for-spain-after-legal-battle/
Cartel Dumps 102.5 Million Ounces of Paper Silver in 7 Minutes, Yet RAID FAILS!
The massive dump was met, on this occasion, with a corresponding massive uptake.
If this level of trading had been sustained throughout the entire 23 ¼ hour trading day, it would have amounted to 19 billion ounces.
The day of this failed raid could mark the turning point in this financial war.
(2012-02-26) Friday’s Mysterious Silver Technicals
“This is a game changing event.”
J.P. Morgan Chase’s Ugly Family Secrets Revealed by Matt Taibbi
“Nearly half of the files [Linda’s] team sampled were missing proofs of judgment or other essential information, she wrote to colleagues. Even more worrisome, she alleged in her wrongful-termination suit, nearly a quarter of the files misstated how much the borrower owed.”
“In the “vast majority” of those instances, the actual debt was “lower that what Chase was representing,” her suit stated.”
“Linda subsequently found an enormous range of errors. Some judgments, she told me, were not judgments at all. In some cases, she said, Chase actually owed the customer money.”
This is letter of marquee, JP Morgan is operating as a government-sanctioned pirate.
JPM Received $200 Million Margin Call 3 Days Prior to MFG Bankruptcy
“Dallas Fed President and CEO Robert W. Fisher actually notified the New York Fed on that day that JP Morgan was using TARP money (Troubled Relief Asset Program) to write their euro currency option derivatives.”
“This illegal trading done by JP Morgan violated the terms of the 2008 Bush-Pelosi bank bailout that forbid banks like Goldman Sachs and JP Morgan from using U.S. Taxpayers’ money to engage in any type of derivative trading.”
“At this hour we can divulge that Dallas Fed President and CEO Richard W. Fisher is cooperating with U.S. Marshals who are investigating this financial treason and will shortly offer his resignation.”
From the article/report not posted:
“We can now divulge that at the time the JP Morgan audit was issued its margined derivative exposure exceeded their capital assets by 2500 to 1.”
I don’t expect to this reported on the old media.
I think someone needs to explain what affect a “naked put option” has on an underlying asset.
My understanding is that it the more puts that are bought is price negative for the underlying asset hence the naked nature of the put makes for a rigging of the price of the underlying asset.
BANG! BANG! BANG! Geithner potentially facing criminal charges over AIG withholding CDS info
If you remember it was $185 billion going to AIG and for their CDS book, among others, $13 billion going straight to Goldman Sachs – it was ordered that the information about all the CDS payouts was to be withheld but it obviously did get released eventually.
The Treasury Secretary at the time, Hank Paulson, is a former CEO of Goldman Sachs.
Bank Resignations up to 450!!!
The rats continue to leave the sinking ship that is banking.
Unravelling Europe’s Epic Ponzi Pyramid Of Lies
“The quoted and much ballyhooed sovereign debt numbers are now known to be no longer accurate and hence the lack of credibility of the debt to GDP data for the European nations. Stated more simply; none of the data that we are given about sovereign debt in the European Union is the truth, none of it. According to Eurostat, as an example, the consolidated Spanish debt raises their debt to GDP by 12.3% as Eurostat also states, and I quote, that guaranteed debt in Europe “DO NOT FORM PART OF GOVERNMENT DEBT, BUT ARE A CONTINGENT LIABILITY.” In other words; not counted and so, my friends, none of the data pushed out by Europe about their sovereign debt or their GDP ratios has one whit of truth resident in the data.”
“Danske bank points out this morning that the drop in home prices for Spain was -4.2% last quarter which marks the biggest drop ever and they note a record high vacancy rate of 24.3% while further stating that the fall in Real Estate prices is so steep that it is equivalent to a 10% loss in GDP. In a report issued on 2/29/12 and apparently ignored by everyone including the ratings agencies, Eurostat reports that Spain has total sovereign guarantees of “other debt” which is 7.5% of their total GDP which would total around another $72.2 billion in uncounted debt.”
I suppose uncounted debt is debt that had slipped down the back of the sofa.
“If we just take the newest figures for Spain, which were released this morning, we find an admitted sovereign debt of $732Bn and a touted debt to GDP ratio of 68.5% which is up 10.7% from last year.”
“Then if we consider the “known” debt for Spain, only someone in La Mancha may know the “real” answers, we find:”
“Admitted Sovereign Debt $732 Billion”
“Admitted Regional Debt $183 Billion”
“Admitted Bank Guaranteed Debt $103 Billion”
“Admitted Other Sovereign Guaranteed Debt $ 72 Billion”
“Total Admitted Debt $1.090 Trillion”
“A More Accurate Debt to GDP Ratio 113.2%”
Terminated CBO Whistleblower Exposes Deep Conflicts At “Impartial” Budget Office
Welcome To The Predatory State of California–Even If You Don’t Live There
“This was an interesting claim given that R.T.:”
“Did not reside in California in 2006”
“Did not file a State income tax return in California in 2006”
“Did not have any outstanding tax issues with California in 2006”
“Did no business in California in 2006”
“Owned no property in California in 2006”
I first sent an email with the following material to people back on 1st April 2012.
Dept of Justice Won’t Return Koutoulas Phone Calls in MF Global scandal by Warren Pollock
JP Morgan Lawyer Exposes Corruption at JPM, MF Global & the CFTC
“Below is the written testimony to Congress of Diane Genoa, Deputy General Counsel for JP Morgan as it relates to the MF Global investigation. I have no doubt that she was “deputized” such that JPM’s actual General Counsel, Stephen Cutler, didn’t have to speak. Unfortunately for the Bad Guys, Ms. Genoa’s dance around the issues may have provided more information than they wanted to expose. Here’s the statement…”
“Statement from JP Morgan re: MF Global Collapse http://financialservices.house.gov/UploadedFiles/HHRG-112-BA-WState-DGenova-20120328.pdf”
“Basically, Ms. Genoa knows exactly what they did illegally in this situation and is trying to dance around it. JP Morgan KNOWINGLY confiscated at least $200M of customer funds and then tried to cover their tracks by getting MF Global to sign a waiver three times that stated the funds were legitimate and not customer segregated funds. MF Global never signed the document but JP Morgan still hasn’t given the money back.”
“The corruption runs deep within the Banking Cabal, the Government Oversight Organizations and the US Legal System.”
“The GOOD thing about all this is that the curtain is being pulled away and the Banksters can’t survive in the light of day.”
Tyler’s Take on The $17 Trillion Dollar Obamacare Debacle
“Republican Jeff Sessions who after actually running the numbers has uncovered that the true long-term funding gap is a mind-boggling $17 trillion, just a tad more than the original sub $1 trillion forecast.”
The bill should have been called the Patient Mis-Protection and Un-Affordable Care Act.
Everything out of government seems to be the opposite of what the government says.
It’s Time To Stomp On The Left – the shooting of 17-year-old Trayvon Martin in Florida
“This sort of blatant “in your face” distortion ought to be ringing everyone’s alarm bells at high volume”
“Then we have the call for blatantly unlawful action yesterday from the “New Black Panthers”, which literally asked for 5,000 black men to search for and kidnap Zimmerman and issued a reward for anyone who did so.”
“he was attacked from behind, fell to the ground and was repeatedly struck by Martin who was on top of him.”
NBC News caught altering audio of Trayvon Martin 911 tape, to do ‘internal investigation’
“Outright advanced a falsehood on national television” – NBC are f**king traitors.
This is the divide and conquer strategy.
BRICS: Dollar No Longer Reserve Currency? – 20% of the global economy
The fact that all those American dollars used by Brazil, Russia, India, China and South Africa for bi-lateral trade will now start coming back to the USA makes this a GIGANTIC, GIGANTIC, GIGANTIC deal.
Brave New Bank? BRICS moot dropping dollar, IMF
““The BRICS summit has wrapped up in India. Creating an alternative global lender and stepping away from the dollar as a reserve currency were among their main objectives. RT’s Priya Sridhar is in New Delhi.”
“Earlier RT spoke to Dr Sreeram Chaulia, who is a Vice Dean at the Jindal School of International Affairs. He believes institutions like the IMF and the World Bank have outlived their uselfulness.””
Reforming the United Nations ? WOOHOO.
The International Monetary Fund is going down.
The Bretton Woods system of monetary management established in 1944
“The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states.”
“The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate by tying its currency to the U.S. dollar and the ability of the IMF to bridge temporary imbalances of payments.”
How are the imbalances of payments looking these days ?
Apparently, the International Monetary Fund expressly forbids participating nations from engaging in gold as settlement.
You see the people of the world are far, far, far too stupid to be able to choose the form of money that is acceptable to both parties in a transaction of trade so we must have a monopoly forced upon us.
US Threatens India Over Iran Oil
Peter Schiff on BRICS and the demise of the dollar
The BRICS is a group of creditors while Europe and the USA is a group of debtors and the BRICS no longer want to participate in the ponzi fraud that is the current global financial system.
GREATEST MISTAKE in WEST’S HISTORY, ECONOMIC WAR, GOLD REACTING & MORE – Jim Sinclair
“Too stupid to be stupid.”
Keiser Report: Rip Out Eyes, Tear Off Head (E263)
“In the second half of the show Max talks to filmmakers William Gagan and Geoff Shively about their crowd funded journey to Syria and ‘fake’ activists and, with the introduction of anti-free speech laws in Chicago, the filmmakers discuss the small drone helicopters they have acquired for reporting on the NATO summit.”
“I got involved when I saw videos being displayed that were not getting mainstream media attention.”
The revolution to replace the lying establishment media is gaining momentum.
The game changing tool is the internet.
What Isn’t for Sale?
Foreheads are for sale – “Paid $10,000 by an online casino to install a permanent tattoo of the casino’s Web address on her forehead.”
Keiser Report: Guns vs Gadgets (E264)
“In the second half of the show Max talks to musician Tomas Kalnoky of Streetlight Manifesto about wanting to be the first band to sell no records while the RIAA and record industry executives crash and burn with their dying model.”
“The Recording Industry (Association) of America has become the turd in the punchbowl. They are suing your fans, they’re suing customers.”
“They’re suing people in general, on our behalf when we have absolutely no interest in anyone being sued.”
“The ship is sinking. All the rats are freaking out because their cushy little lives are in danger.”
The internet is cutting out the middle man.
Keiser Report: Unbanked & Unworthy (E265)
Segregation, old and new -“Coloured, to the back of the bus. Unbanked, to the back of the bus.”
“In the second half of the show Max talks to Mark Melin of Uncorrelated Investments about MF Global, JP Morgan and the future of the futures market. They also discuss the Charles Manson’s of the futures industry and the branch office of the too big too fail banks formerly known as the SEC.”
“This is the most brazen act of potential fraud and cover up almost in the history of the financial industry and it’s not being investigated. Another angle of this story is: who’s protecting the commodity markets and their integrity ?”
“Not prosecuting people for obvious crimes, obvious crimes, in my opinion, is crime in itself.”
“Intelligent people in the financial industry, professional investors, they are watching MF Global. Are you kidding me ? If there isn’t a prosecution, this is going to be a damnation of the U.S. financial industry and it’s going to impact everyone and it’s going to benefit a very slim group of people.”
Keiser Report: Selective Amnesia for Brokers & Murderers (E266)
“Finally the Irish, apparently, are waking up. From the New York Times ‘Urged on by the promoters of a tax boycott, fully 85% of irish homeowners have yet to pay a $130 property tax that is due March 31. The latest official figures show that just 225,000 property owners out of 1.6 million have paid a total of $29 million’…. ‘The household tax is also the prelude to a much bigger property tax that is being demanded next year by the so-called troika of lenders, the European Union, the International Monetary Fund and the European Central Bank, under the terms of Ireland’s bailout deal’.”
“They know that the taxes they are paying, it’s now ‘taxation without representation’. They know that’s it just a siphon to, transfer wealth to an outside body of bankers.”
“In the second half of the show Max talks to independent journalist, Lars Schall, about his recently published investigation into insider trading around the 9-11 terrorist attack as well as his pursuit of Germany’s elusive gold reserves.”
“The (9/11) trade was not organised in an Afghan cave.”
RBS sold complex swap to 19 year old first-time landlord
An Interest Rate Swap is just as crap as a Credit Default Swap, following the Greek default and the tearing up of the Greek CDS contracts Jessica should do the same with the IRS contract she bought.
I hope no one I know has been sold one of these pieces of s**t.
Caught in the (interest rate swap) trap: ‘I trusted the bank and saw it just like a house mortgage’
“When the Bank of England lowered base rates below the “floor” of the structured swap Mr Hawkes began paying more interest than he expected.”
So not only are savers not getting a decent rate of interest but the people who were fooled into purchasing interest rate swaps are being charged higher interest payments in reverse proportion to the current interest rate versus the original interest rate.
Treasury acts on interest rate swap claims
“the products that were supposed to protect them from upward movements in interest rates.”
“Typically sold between 2006 and 2008, businesses found themselves paying far higher rates of interest than they expected as Bank base rates fell to historic low rates.”
“The bank should have made clear that interest rates may fall as well as rise, and that as such the cost of servicing the collar may rise as well as fall. If you feel that you were mis-sold the product … you may wish to seek legal advice.”
Keiser Report 267: Muppets Hunting Muppets
“In the 2nd half of the show Max talks to bestselling author, Charles Goyette, about bi-partisan debtors, peasant pitchforks and a warmongering state”
Trichet warns of nations’ ‘behavioral contagion’
“Jean-Claude Trichet, the former president of the European Central Bank, said Saturday that he is worried that controversial quantitative easing and other nontraditional steps that global central banks have taken since the financial crisis could be here to stay.”
“Some economists believe the liquidity could fuel (price) inflation.”
Yeah, quantative easing to infinity while our economies stagnate will make us all destitute in the long run as the stock of currency in circulation goes hockey stick.
Keiser Report: Backstage Wall Street (E268)
“By push button autocracy … credit freezes, panic ensues and Congress will write you any law you want to. They did it in 2008… It’ll happen in Spain. Spain’s ready to hit the wall. They’ll just hit the button and say ‘sign off all your assets or we’re going to cut off all your money’.”
Kenya’s Samburu people ‘violently evicted’ after US charities buy land
Where are the rights of these human beings ? Were they tenants or did their government arbitrarily claim the land they were living on belonged to the government to do with as they wished ?
Keiser Report: Parasites With Bailouts (E228)
“They’ll also question the intentions of the ‘well-meaning’ people who drive Kenyans off their land, and could be doing more harm than good with malaria vaccines.”
Soros’s MF Global Bank Heist Via JP Morgan with Max Keiser
SWIFT Spells Trouble for China, BRIC Nations in Fight for Global Dominance
“dominance of the U.S. dollar was almost entirely dependent on the grip it had over oil producers and this allowed the oil price to be denominated in the U.S. dollar.”
I wonder how many people actually know that we operate on a petro dollar standard, at least we used to operate on a petro dollar standard.
“Right now there are ongoing discussions between the BRICS (Brazil, Russia, India, China and South Africa) countries over their use of the SWIFT system of international settlements as a ‘weapon’ against Iran.”
You read that right – weapon.
“The full extent of the impact of this appears to have been ignored. With China and India as two of Iran’s clients, they found that the U.S. could hurt them considerably with this action. If they can hurt them in this way, then they can hurt them the same way on other issues. So the question that the BRIC nations are now asking is,
“Must we be subject to the financial will of the U.S.?””
“The question has long-term implications that could affect these nations’ freedom of financial activity. The question demands to see just how powerful the U.S. really is. It is very clear to these emerging nations that if they are to keep on growing, unfettered by the U.S. will, they must set up a system that is not vulnerable to U.S. influence and to reduce the influence of the dollar itself.”
“What is being realized slowly is that the actions that come out of this conference may well mark a watershed in the shift of power from West to East and the significant reduction in the power of the U.S. as the globe’s main financial influence.”
“While the SWIFT settlement system is a Belgian-based international banking settlement agency, the U.S. influence over it was sufficient to halt all Iranian interbank transfers. It is not the system that is faulty but the influence of the U.S. over it that is the danger to the BRIC nations.”
“China can no longer afford to depend on the U.S. dollar as the financing currency for its goods, as it is technically possible, although unlikely at the moment, to face threats from the U.S. even on this subject.”
“It is clear to the BRICS nations that they need to set up institutions at the heart of the present world financial systems to act as an alternative to the World Bank and the International Monetary Fund and perhaps a replacement to the SWIFT system for transactions with the emerging world.”
The GIGANTIC, GIGANTIC, GIGANTIC deal is getting even more GIGANTIC by the day.
The international revolution Rothschilds empire of the World Bank and the International Monetary Fund is unfolding but you wouldn’t see it on the corporate media of the USA and Europe. And why should they not have a revolution what with the dominant medium of exchange of the fiat paper American dollar builds up within their borders in exchange for consumer goods they produce.
“Gold in national vaults gives a certain weatherproof quality to a nation’s wealth. That’s why it is pointless in giving it a currency price.”
I would ask what is gold doing in national vaults when in times gone by the people circulated it as money ?
Fiat Money – rich poor divide
One of things I wasn’t taught in school but that I have learned since is the truth about our monetary system.
I wonder how many people actually know that we operate on a petro dollar standard, at least we used to operate on a petro dollar standard.
‘It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning’ – Henry Ford
Our paper currencies are ghosts of money and debt instruments while gold and silver are real money and equity instruments.
Bedrock of Vaccination Theory Crumbles as Science Reveal Antibodies Not Necessary to Fight Viruses
Strike at the core of the vaccine fallacy, BOOM.
FDA says fresh milk is dangerous, but chemical BPA is perfectly safe!
“order distributors to burn their recipe books containing stevia recipes. (www.naturalnews.com/stevia.html)”
So the USA is now following the book burning practices of Nazi Germany.
“Anthony Gucciardi from Natural Society is reporting that BPA producers are rolling in a whopping $8 billion in sales on this chemical”
“BPA, for the record, has been linked to cancers and hormone disruptions, and this happens at ridiculously low levels of contamination (parts per billion). But the FDA looks at this and thinks, “This could be HUGE for the pharmaceutical business!” The more people are sickened by BPA, in other words, the more people eventually buy high-profit prescription drugs to treat the symptoms brought on from the consumption of BPA.”
“Producers of toxic BPA are now boasting $8 billion in sales for 2012 thanks to the FDA rejecting a potential ban on the cancer-linked chemical on March 30th. According to GlobalData, manufacturers will produce 4.7 million metric tons of BPA this year to be dispersed into the daily lives of millions worldwide. BPA now goes into everything: plastic bottles, canned foods, DVDs, plastic wrap, and much more.” (http://naturalsociety.com/bpa-makers-to-gross-8-billion-thanks-to-fda…)
“the FDA is a clear and present danger to the health and safety of the American people.”
When the FDA says dangerous they mean to the profits of the pharmaceutical industry they do not mean to the health of the American people.
Lord Monckton’s Schenectady Showdown – the man-made global warming fraud
“Monckton vanquishes Union College “Greens too yellow to admit they’re really Reds””
“displaying some slides demonstrating the unhappy consequences of several instances of consensus in the 20th century.”
“The Versailles consensus of 1918 imposed reparations on the defeated Germany, so that the conference that ended the First World War (15 million dead) sowed the seeds of the Second. The eugenics consensus of the 1920s that led directly to the dismal rail-yards of Oswiecim and Treblinka (6 million dead). The appeasement consensus of the 1930s that provoked Hitler to start World War II (60 million dead). The Lysenko consensus of the 1940s that wrecked 20 successive harvests in the then Soviet Union (20 million dead). The ban-DDT consensus of the 1960s that led to a fatal resurgence of malaria worldwide (40 million children dead and counting, 1.25 million of them last year alone).”
“The 2001 IPCC gospel had abolished the medieval warm period by another piece of dubious statistical prestidigitation that was now under investigation by the Attorney-General of Virginia under the Fraud against Taxpayers Act 2000 (gasps of gaping astonishment from some of the environmentalists, who seemed not to have been told this before).”
“The 1995 gospel had been rewritten by just one man, to replace the scientists’ five-times-expressed conclusion that no human influence on global climate was discernible with a single statement flatly (and incorrectly) to the contrary.”
“On this basis, the cost of abating 1 C° of global warming would be $1.5 quadrillion. That, said Lord Monckton, is not cheap. In fact, it is 110 times more costly than doing nothing and paying the eventual cost of any damage that might arise from warmer weather this century.”
“In the past decade, he said, methane concentration had risen by just 20 parts per billion, which might cause 1/350 C° of warming. This was too little to matter. Leave the cows alone. What about peak fossil fuels? Should we not start cutting back now? No, said Lord Monckton. The recent discovery of vast and now-recoverable reserves of shale gas meant that we had several hundred years’ supply of fossil fuel. The professor agreed that shale gas had a contribution to make: it produced more energy per ton of CO2 emitted than oil or coal.”
“The professor then asked the students in to raise their hands if they agreed with him that the IPCC’s use of the statistical technique questioned by Lord Monckton was correct. Dutifully, fearfully, about two-thirds of the hands in the room went up. Lord Monckton turned to the professor and told him he should not have done that. He then turned to the students who had raised their hands and asked them how many of them were statisticians. Just one student began to raise his hand and then – apparently realizing that admitting he was a statistician was to admit he had knowingly raised his hand to endorse a manifest statistical falsehood – slowly lowered it again, blushing furiously.”
“Lord Monckton, sternly but sadly, told those who had raised their hands: “You know, from the plain and clear demonstration that I gave during my lecture, that the IPCC’s statistical abuse was just that – an abuse. Yet, perhaps out of misplaced loyalty to your professor, you raised your hands in denial of the truth. Never do that again, even for the sake of appeasing authority. In science, whatever you may personally believe or wish to be so, it is the truth and only the truth that matters.””
“Lord Monckton’s reply was moving. Gently, and sadly, he said, “We shall lose the West unless we can restore the use of reason to pre-eminence in our institutions of what was once learning. It was the age of reason that built the West and made it prosperous and free. The age of reason gave you your great Constitution of liberty. It is the power of reason, the second of the three great powers of the soul in Christian theology, that marks our species out from the rest of the visible creation, and makes us closest to the image and likeness of our Creator. I cannot stand by and let the forces of darkness drive us unprotesting into a new Dark Age.””
Piers reinforces Lord Monckton’s debunking of the insanity of demonising carbon dioxide.
Christopher Monckton served in Conservative Central Office and worked for Margaret Thatcher’s Number 10 Policy Unit during the 1980s. I wish these guys had not made the following stuff up about this Durban Summit.
United Nations Eco Fascist World Gov At Durban Summit
“a “more than 100%” reduction by 2050, which presumably could only be accomplished by killing billions of humans to prevent them from exhaling carbon dioxide.”
““So, no motor cars, no coal-fired or gas-fired power stations, no aircraft, no trains. Back to the Stone Age, but without even the right to light a carbon-emitting fire in your caves,” writes Monckton.”
“- The text calls for a 2 degree Celsius drop in global temperatures, which as Monckton points out “would kill hundreds of millions” and herald a new ice age.”
“- The reduction in CO2 concentration the text calls for would actually begin to kill all plant life and trees on the planet because they need levels of carbon dioxide above 210 ppmv to survive.”
Lord Christopher Monckton: The Coming New International Climate Court
10m00s “Attempt take carbon dioxide to levels where trees and plants will die.”
11m00s “I’m not making this stuff up.”
12m00s “No more Mr Nice Guy.”
13m00s “Breaking the electronic Berlin Wall.”
Marc Morano: World Government Built on Eco-Fascism to Control All
Agenda 21: The Wrenching Transformation of America
16m45s “National sovereignty, they say, is a social injustice.”
Individual sovereignty is a human being’s unalienable right.
He goes on “According to the sustainabilists it’s a social injustice for some to have prosperity if others do not.”
“Promises of healthcare for all, jobs for all, housing for all, inequality for all.”
Everyone will be told the medial treatments that they will be receiving, everyone will be told the jobs that they are to work, everyone will be told the house that they will live in.
“Gross National Happiness will slowly replace Gross National Product.”
“Happy Planet Index.”
It goes on and on and I think it is clear that our public servants are certifiably insane.
“Individual rights will have to take a back seat to the collective” – while the individual rights of the elite will remain in the front seat.
However, Agenda 21 is being rolled back and it’s also a good job that the International Monetary Fund is going down and the United Nations is going to be reformed.