Employing a scare tactic that’s become mind-numbingly familiar to those who track the machinations of the New World Order, an executive of Federal Reserve member bank JPMorgan has said the earth will heat up if JPMorgan isn’t allowed to speculate freely in the carbon trading markets.
Many believe carbon credits will be the next asset class to be systematically inflated and crashed by the favored members of the New York Federal Reserve, which would act with the complicity of a predictably malleable Congress. This time, though, a few members of Congress are expressing concern.
In an Aug. 13 story at Bloomberg.com, Bill Winters, co-chief executive officer of JPMorgan’s investment bank, explained why he objects to attempts by members of the U.S. Senate to ban or restrict participation by investment banks in the market for trading carbon-emissions credits that’s currently being established.
Citing no scientific evidence, Winters said that if JPMorgan isn’t given a free hand to speculate in energy credit derivatives, the markets “will die, and the temperature on this planet will go up by a couple of degrees, more than it would have otherwise, and we’ll be really sorry about it.”
A few members of the Senate are attempting to place restrictions on participation in the carbon market by New York Federal Reserve members JPMorgan and Goldman Sachs. Both firms speculated heavily last year in oil futures on the long and short sides, profiting first from the commodity’s run-up and then from its collapse.
Now the banks are positioning themselves to do the same with the carbon credits market. According to a disclosure statement, Goldman Sachs is a shareholder in Climate Exchange PLC, which owns the European Climate Exchange, the California Climate Exchange, and the Chicago Climate Exchange. Several familiar names are involved in these enterprises.
As Fox News reported last March, President Obama helped fund the Chicago Climate Exchange while serving on the board of the Chicago-based Joyce foundation in 2000 and 2001. According to Canada Free Press, the Chicago Climate Exchange’s board of directors includes Al Gore and Maurice Strong, two of the most prominent proponents of the global warming hoax.
Al Gore is chairman of the trading firm Generation Investment Management LLP, which stands to profit handsomely from the trading of carbon credits. Canadian Maurice Strong has a lengthy resume as a global environmentalist, having served in several capacities at the United Nations.
Strong was also co-author of “The Earth Charter” with former Soviet Prime Minister Mikhail Gorbachev, who once said that the “threat of environmental crisis will be the ‘international disaster key’ that will unlock the New World Order.”
