IS A CARBON CURRENCY
Michael S. Coffman, Ph.D. and Kristie Pelletier
September 10, 2011
Carbon currency is a global monetary system that would not be based on money as we have historically known it, but on carbon credits. It is nothing less than a revolutionary new economic system based on energy consumption and production rather than price.
Analysts are warning that it is highly probable that Europe’s economy will collapse within the next three years, if not sooner. When Europe goes down it is highly likely the U.S. economy will soon follow with potentially devastating effects. At same time, the EPA is instituting thousands of pages of new regulations that cap CO2 emissions, without a single new law passed by Congress. It is all coming down through Executive Branch Fiat. Every analysis of these new regulations show they will have a huge negative impact on our economy right when we can least afford it. It is estimated that the GDP (Gross Domestic Product) will be $9.4 trillion from 2012 to 2035, eventually reaching $700 billion annually. Finally, there is growing suspicion that national currencies will be made worthless through default, hyperinflation, or both. Will a carbon currency replace them?
The current worldwide crisis in the free market system may be the impetus for the full implementation of the new Carbon based global monetary system. Our current price-based economic system and its related currencies that have supported capitalism, socialism, fascism and communism, seems to be herded to the slaughterhouse. Greece, Ireland, Italy, Portugal, Spain and other European nation’s economies are falling like dominoes.
The United States is also in real trouble, with our credit rating downgraded by Standard & Poors. Contrary to what the media is saying, it is not because Congress did not raise the debt limit fast enough; rather it is because U.S. spending is out of control with no end in sight. The Dow Jones Industrial lost a staggering 14 percent immediately after the S&P downgrade was announced and President Obama tried to assure the nation that everything was fine. It is not fine and the market finally realizes it. The crisis is gargantuan and it is worldwide.
As we wrote on May 3, the global financial architecture developed over decades and formalized at the 2002 Monterrey Mexico International Conference on Finance for Development is set up for regional monetary control patterned after the European Union. The long-term goal is to establish a global currency. The Bank for International Settlements (BIS) was given oversight through their Financial Stability Forum, now called the Financial Stability Board. The BIS, in turn is basically controlled by the U.S. Federal Reserve (Fed—the private unaccountable Central Bank of the U.S.) and the Bank of England.
The Facts Don’t Add Up
The entire purpose of the BIS’ Financial Stability Board (FSB) is to stabilize the global financial architecture to prevent exactly what happened in the 2008-2009 and 2011 financial collapse. Either the FSB is a total failure, or they let the financial collapse happen to allow existing currencies to collapse and give the central banks more control. Before the Dodd Frank Financial Reform Act was passed in 2010, global financial analyst Joan Veon made a very good case that the Federal Reserve, the BIS and the FSB used the crises to basically take control over the U.S. financial and regulatory structure;
Since most [people] are not acquainted with our financial and regulatory structure, they will not appreciate the incredible transfer of power being given to the Federal Reserve, a private corporation. Once Congress passes the necessary [financial reform] law, the Fed will be given massive powers over the entire financial and economic industry, the insurance industry, non-banking institutions as well as the mortgage industry.
If Veon is only partially correct, it means the Fed, and by extension, the BIS, is close to controlling the financial regulatory structure of the U.S.; just as called for in the Monterrey plan. Virtually no one knows this. So what is their plan?
The idea for a carbon currency has been around since the 1930s under the banner of Technocracy. Technocracy is a world run by scientists and experts, not elected officials. Early proponents of this model even wanted F.D. Roosevelt set up as a dictator, not elected as a president. They claim Technocracy brings economic freedom, but it will actually bring the exact opposite. Financial analyst explains:
Carbon Currency will be based on the regular allocation of available energy to the people of the world. If not used within a period of time, the Currency will expire (like monthly minutes on your cell phone plan) so that the same people can receive a new allocation based on new energy production quotas for the next period. Because the energy supply chain is already dominated by the global elite, setting energy production quotas will limit the amount of Carbon Currency in circulation at any one time. It will also naturally limit manufacturing, food production and people movement.
A carbon currency must depend on a finite supply of fossil fuel so that it can be strictly controlled by technocrats. Since the founding of Technocracy, every generation has been taught the “peak oil” theory; i.e. the world only has “x” number of years before the earth’s oil is depleted. There is a problem with this theory, however. More oil is discovered every year. In fact, enough oil and gas exist in shale oil formations in Colorado, Utah and Wyoming to be energy independent for several hundred years with current technology and oil prices.
This bonanza of energy had to be restricted if carbon currency was to become a reality. That could explain why fear mongering of global warming continues to escalate even when there is no empirical evidence to show that man is causing it. Recent NASA research has clearly shown the climate models grossly overestimate warming. Yet, the hue and cry to reduce CO2 emissions continues to increase. That is exactly what the EPA is doing.
Of equal concern is that Congress locked much of shale oil formations up with Omnibus Public Land Management Act of 2009. It is perhaps very revealing that at the same time Congress locked up much of this 100+ year supply of oil, the same Congressmen and Senators were wringing their hands pontificating to their constituents back home that we must break the dependence on foreign oil. Why the hypocrisy?
Congress was told that the bill it would have a devastating impact on the future of energy in the United States. Senator Tom Coburn (R-OK) warned the bill would put 1.3 trillion barrels of shale oil, out of the total of about 2 trillion barrels, off limits to development. It also cuts off 9.3 trillion cubic feet of natural gas permanently. Although it seems irrational, the legislation had to be intentional.
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The question that every citizen needs to ask themselves; is the seeming rush to a carbon currency just insanity, ideological blindness, or an obscene effort to trash the U.S. dollar through inflation and debauchery to destroy the U.S. from within? Or, is it all of the above? In any case, it is imperative that Americans vote out every neoconservative and progressive liberal in Congress, state legislatures, and local governments in the 2012 election.
How fast will carbon currency be implemented if that is the elite’s goal? It depends on how fast the smart grid is implemented, which is discussed in Part II.