20 March 2009
Emission Trading Scheme is the latest trading scam devised to extract money from the great unwashed. These are the poor shareholders, mortgaged mums and dads, small businesses and pensioners. All forced to survive on limited incomes.
ETS traders do not actually produce anything they just trade other people's nasties (pollution). Traders make up a system to measure nasties such as carbon then trade them on to large industrial corporations. They do nothing to actually solve the pollution problem.
ETS comes on the tail of the failed World Trade Organisation. The WTO representatives feed hungry financial journalists with their propaganda in conferences all over the world. Buried in deep footnotes in complex reports, the media, with deadlines, failed to uncover the layers of jargon of true facts behind the rhetoric. Enron is a prime example and should have been a warning sign of what was to come.
Meanwhile short sellers shifted shares around and those on the inside the CEOs, raised their entitlements long before the bubble burst. They feasted up for years in conferences all over the world. What did all these conferences achieve? Take overs of sound businesses by conglomerates. Privatisation of essential services all over the world that not only became financial burdens to taxpayer but services declined. The privatisation of water is a prime example where many poor people were robbed of their livelihood.
The intelligent vox populi saw through the scam and protested worldwide. Governments and small shareholders believed in the temporary privatisation boom that offered good short term returns to their shares. "The ladder of opportunity" was good while it lasted but then the snake sent it all down.
Today workers are laid off, superannuation and taxpayers are propping up banks and businesses that have exploited them in the past. CEO's take their leave with their exorbitant payouts. They leave us with AGM reports that ensure the real story is buried in reams of footnotes that overwhelm any reader. This makes it almost impossible to trace the truth of the cause of this worldwide recession. Still the WTO won't die even though it is on life support.
What do we get in return? A government handout for a few that would be better invested in long term services and infrastructures that have been neglected by greedy businesses, bank and pathetic governments for decades.
I fear for the next generation. How long will it take them to climb the ladder of opportunity again?
Secretary of STOP MA WA.
P O Box 1375 Bibra Lake 6569 WA