Finally the carbon credit scam begins its financial services stage. Welcome to the testing ground formerly known as the Colony of Australia http://www.theage.com.au/opinion/po...-scrap-carbon-floor-price-20120828-24xuo.html
That's smart, cause this climate change thing only occurs within Australia's borders. :lol: Why would we want companies to be able to keep costs down by using imported credits, when the carbon tax is all Australian made? Oh, that's right... the deficit???
I think it is fairly ironic that the Greens were whinging that a price below $20 from memory was basically pointless. Remember when they were pushing for $40 a tonne? http://www.smh.com.au/environment/c...ce-shock-now-its-40-tonne-20110516-1epxo.html And: http://www.theaustralian.com.au/nat...ll-be-well-south/story-fn59niix-1226057628289
The Greens are hopeless. They have a complaint about everything and a reasoned solution to nothing. In Sydney their solution for dealing with traffic is to force large commercial developments to only have 2-4 car parking spaces. Their "reasoning" is that if people can't find anywhere to park they will get rid of their cars. There is a 77 room + retail accommodation development being approved in our council area and they were only required to provide 4 off-street parking spaces.
How else do you indoctrinate policy that undermines free markets and creates victims in a politically viable way? Easy, invite opportunistic voters into the scam to share the proceeds. Negative Gearing operates on exactly the same philosiphy. As soon as the politicians can bring in enough voters to make reversal of said policy 'political suicide', it's sure to stay the course and more so, they can unleash those voters taking advantage of the situation loose on those who protest, creating a lovely little buffer between their policy and accountability. 'We kept it around because so many Australian's rely on it's profit to survive and because 'democratically' the Australian majority voters want it in place' It's enough to make any thinking person sick. Death by austerity. That's the policy and business model of this country's political landscape and we have the audacity to wonder why there's no integrity in the system?
Quote from our chief economist today: "The pricing and stucture of the carbon tax was set up with no economic considerations at all and with one goal only - to make it as difficult as possible to reverse it by Abbot."
And that's because the international investment banking cartels that ordered the Labor Party to introduce the tax want to make sure that their profits are secure.
I should also mention that I work for one such international banking cartel... and I firmly beleive the structue of the carbon tax is full of s***... however, if money is there to be made on a government's stupidity, then we would be just as stupid if we didnt try and profit on it.
I think you have the horse before the cart and that is the moral hazard. It is these banking cartels that have pushed this, it's not like they are opportunistic entrepreneurs here making a dollar off of a dumb green ideology. They have set this up to profit even further from people's misery.
^ thankyou Not all profit is good profit. Depends on perspective, but abandoning all ethics for profit has caused a lot of problems for mankind in general. That tend should be pushed into reverse, not encouraged. Edit: likewise, someone could argue they're going to make heaps of money being on the top rung of a ponzi scheme, but that doesn't make it ok to support a ponzi, knowing full well that your profits will be the direct losses of many others.
Well i can safely say i didnt push or vote for a carbon tax and would be happy as any of you to see it go... But if someone puts a 10oz bar in front of you and says: "Please take it (here is the receipt from the Perth mint guaranteeing it was legitimatley obtained)" - would you take it?
So that the socialists don't take your comment the wrong way (which they probably will) - as per rbaggio's and others signature blocks the abandoning of ethics occurs when regulations give you a special protected space in the market where it is nearly impossible for consumers to punish you for abandoning all ethics for profit. I can't think of any real world example which has not been created as a result of a having been handed a privileged position in the market by the Government.
^ thanks One prime example is the US legal system as a whole, it is so convoluted, and the legal officials are so corrupted that big business can do whatever it wants, if it has a big enough legal team. Edit: which means that lower level competition is unfairly disadvantaged, and usually snuffed out. Too big to fail is another example of this.
But that's my point. It's not like someone is puting the 10oz bar in front of you. They are coercing the government to make someone else put a 10oz bar in front of them. All of the rest of the BS behind this aside, There is one piece of legislation missing out of all of this that is vital. No one should be able to purchase a carbon credit that is either not the end user of the credit or the creator of the credit. If a big bank like Goldman Sachs or J.P. Morgan is able to use its endless access to cash to be able to buy credits and sell them at a profit then right there is the first sign that this is out and out corruption.
