In short, "While on the board of a Chicago-based charity, Barack Obama helped fund a carbon trading exchange that will likely play a critical role in the cap-and-trade carbon reduction program he is now trying to push through Congress as president."
The charity was the Joyce Foundation on whose board of directors Obama served and which gave nearly $1.1 million in two separate grants that were "instrumental in developing and launching the privately-owned Chicago Climate Exchange, which now calls itself 'North America's only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide.'"
And that's only the beginning of this tawdry tale. FOXNEWS host Glenn Beck broke this story asthe biggest corruption story of the centuryand it doesn't appear on a Front Page anywhere. No surprise there with the communist state-controlled media. Beck points the way to the 15 Trillion dollar scam that has some amazing players.Glenn Beck made an astute point: If Goldman is really the bad guy, why are these people still on the job? The Goldman suit is a put up job!
1. William C. Dudley, president of the Federal Reserve Bank of New York; was a partner and managing director at Goldman;
2.Gary Gensler, chairman of the Commodity Futures Trading Commission; spent 18 years at Goldman;
3.Mark Patterson, chief of staff to Tim Geithner; former Goldman lobbyist;
4.Philip Murphy; nominated for ambassador to Germany; former Goldman executive;
5.Diana Farrell; deputy director of the National Economic Council; formerly with Goldman;
6.Emil Michael; White House fellow; former investment banker with Goldman.
Glenn Beck saysthat a watchdog steered him to the collusion between Barrack Obama, George Soros, Al Gore, Goldman Sachs, Franklin Raines (super crooked Fannie Mae head), CCX (Chicago Climate Exchange), and Generation Investment Management (GIM-London based co-founded by AL Gore).
The "privately-owned" Chicago Climate Exchange ("CCX") is heavily influenced by Obama cohorts Al Gore and Maurice Strong. For years now Strong and Gore have been cashing in on that lucrative cottage industry known as man-made global warming. Strong is on the board of directors of the Chicago Climate Exchange, which Wikipedia-describes as "the world's first and North America's only legally binding greenhouse gas emission registry reduction system for emission sources and offset projects in North America and Brazil."
Gore, self-proclaimed Patron Saint of the Environment, buys his carbon off-sets from himself "the Generation Investment Management LLP", an independent, private, owner-managed partnership established in 2004 with offices in London and Washington, D.C., of which he is both chairman and founding partner. The Generation Investment Management business has considerable influence over the major carbon credit trading firms that currently exist, including the Chicago Climate Exchange.
Strong, the silent partner, is a man whose name often draws a blank on the Washington cocktail circuit. Even though a former Secretary General of the 1992 United Nations Conference on Environment and Development (the much hyped Rio Earth Summit) and Under-Secretary General of the United Nations in the days of an Oil-for-Food criminal fraud that beleaguered Kofi Annan, the Canadian born Strong is little known in the United States. That's because he spends most of his time in China where he he has been working to make the communist country the world's next superpower. The nondescript Strong, nonetheless is the big cheese in the underworld of climate change and is one of the main architects of the failing Kyoto Protocol. Full credit for the expose' on the business partnership of Strong and Gore in the cap-and-trade reduction scheme should go to the investigative acumen of the Executive Intelligence Review (EIR).
The tawdry tale of the top two global warming gurus in the business world goes all the way back to Earth Day, April 17, 1995 when the future author of "An Inconvenient Truth" travelled to Fall River, Massachusetts, to deliver a green sermon at the headquarters of Molten MetalTechnology Inc. (MMTI). MMTI was a firm that proclaimed to have invented a process for recycling metals from waste. Gore praised the Molten Metal firm as a pioneer in the kind of innovative technology that can save the environment, and make money for investors at the same time.
"Gore left a few facts out of his speech that day," wrote EIR. "First, the firm was run by Strong and a group of Gore intimates, including Peter Knight, the firm's registered lobbyist, and Gore's former top Senate aide." (Fast-forward to the present day and ask yourself why it is that every time someone picks up another Senate rock, another serpent comes slithering out).
Second, the company had received more than $25 million in U.S. Department of Energy (DOE) research and development grants, but had failed to prove that the technology worked on a commercial scale. The company would go on to receive another $8 million in federal taxpayers' cash, at that point, its only source of revenue. With Al Gore's Earth Day as a Wall Street calling card, Molten Metal's stock value soared to $35 a share, a range it maintained through October 1996. But along the way, DOE scientists had balked at further funding. When in March 1996, corporate officers concluded that the federal cash cow was about to run dry, they took action: Between that date and October 1996, seven corporate officers–including Maurice strong–sold off $15.3 million in personal shares in the company, at top market value. On Oct. 20, 1996, a Sunday, the company issued a press release, announcing for the first time, that DOE funding would be vastly scaled back, and reported the bad news on a conference call with stockbrokers.
On Monday, the stock plunged by 49%, soon landing at $5 a share. By early 1997, furious stockholders had filed a class action suit against the company and its directors. Ironically, one of the class action lawyers had tangled with Maurice strong in another insider trading case, involving a Swiss company called AZL Resources, chaired by Strong, who was also a lead shareholder. The AZL case closely mirrored Molten Metal, and in the end, Strong and the other AZL partners agreed to pay $5 million to dodge a jury verdict, when eyewitness evidence surfaced of Strong's role in scamming the value of the company stock up into the stratosphere, before selling it off. In 1997, Strong went on to accept from Tongsun Park, who was found guilty of illegally acting as an Iraqi agent, $1 million from Saddam Hussein, which was invested in Cordex Petroleum Inc., a company he owned with his son, Fred.
These are the leaders in the Man-made Global Warming Movement, who three years later were to be funded by the man who was to become President of the United States of America. If we follow the time line on where Obama was during the funding of the Chicago Climate Exchange, he was still a lecturer at the University of Chicago Law School teaching constitutional law, with his law license becoming inactive a year later in 2002.
It may be interesting to note that the Chicago Climate Exchange in spite of its hype, is a veritable rat's nest of cronyism. The largest shareholder in the Exchange is Goldman Sachs. Chicago Mayor Richard M. Daley is its honorary chairman, The Joyce Foundation, which funded the Exchange also fundedmoney for John Ayers' Chicago School Initiatives. John is the brother of William Ayers. The Joyce Foundation is tied to the Annenberg Challenge Group, which terrorist Bill Ayers and Obama were board members of that defrauded the federal government in diverting federal funding through suspect grants to alleged school programs. THE JOYCE FOUNDATION was established in 1948 by Beatrice Joyce Kean of Chicago. The Joyce family wealth came from the lumber industry (Tremont Lumber Company), including family-owned timberlands, plywood and sawmills, and wholesale and retail building material distribution facilities which were located in the state of Louisiana and the Midwest.THE JOYCE FOUNDATIONemphasizes environmental, campaign-reform, and gun control issues, with education and culture programs.
What a flap when it was discovered that the senator from Chicago had nursed on Saul Alinsky's milk, had his political career launched at a coffee party held by domestic terrorist Bill Ayers, and sat for 20 years, uncomplaining in front of the "God-dam-America" pulpit of resentment-challenged Jeremiah Wright. Folk were naturally outraged that the empty suit who would go on to become POTUS was spawned from such anti-American activism. But the media should have been hollering, "Stop Thief!" instead. The same Chicago Climate Exchange promoting public rip-off was funded by Obama before he was POTUS.
Even as man-made global warming is being exposed as a money-generating hoax, Obama is working feverishly to push the controversial cap-and-trade carbon reduction scheme through Congress. Obama was never the character he created for himself in the fairy-tale version in "Dreams of My Father". He's the agent of Change and Hope for cohorts making money down at the Chicago Climate Exchange.
The answer involves the Chicago Climate Exchange (CCX). The CCX is self-described as “North America’s only cap and trade system for all six greenhouse gases with global affiliates and projects worldwide.” Currently, this exchange is voluntary, but apparently, not for long if the Democrats have their way.
In a nutshell, “cap and trade” is a system that redistributes wealth from successful companies to less successful companies. Heavily supported by the now-defunct Enron, a company that was guilty of fraud on a massive scale, it enforces regulations on gas emissions by forcing companies that emit more gas to give money to companies that emit less gas. It is Marxism at its best. President Obama admits that if enacted, this system will cause electricity rates to “skyrocket.” Don’t believe me? Look it up!
How does all of this tie together? In 2001, the CCX was provided with grants by the the Joyce Foundation, though where their money comes from remains unclear. The Joyce Foundation also gives money to John Ayers, Bill Ayers’ brother, and George Soros’ Tides Foundation. Beck describes the Joyce Foundation as “a place where the uber-rich and powerful liberals dump their money so they can spread their cash around to their pet projects without any direct link.”
There was one member of the board for the Joyce Foundation, active from 1994-2002, who was particularly influential and made sure that the Joyce Foundation funneled funds to the Chicago Climate Exchange at the time the CCX was created, around 2001. This influential member became the middle-man that virtually orchestrated the entire convoluted relationship between the investors of the CCX. That member’s identity will be revealed shortly.
The founder of the CCX, Richard Sandor, has publicly stated that this climate exchange market will be a 10 Trillion dollar a year industry. When this was announced, the London-based Generation Investment Management, created by Al Gore and boasting the membership of people like David Blood, Mark Ferguson, and Peter Harris of Goldman Sachs, purchased a stake in CCX and is now the fifth largest co-owner of the Climate Exchange. Also, recognizing the potential profits of this industry, in 2006, Goldman Sachs purchased 10 percent of the company. While Barack Obama sat on the Joyce Foundation’s Board, they made the decision to provide seed money to the Chicago Climate Exchange – a scheme to sell credits for carbon. Basically, selling air. Ten Trillion Dollars isa lot of money for air.
All of this came together because of that middle-man, the influential member on the board of the Joyce Foundation –Barack Obama. To push this agenda, a Global Climate Bill is necessary, but fear not, for the “cap and trade” bill is being worked on by both Democrats and Republicans, and is nearly 1,400 pages long. And, it's all being covered up bybuy-offand threats to the mainstream(state-controlled) media by George Soros.
Additionally, the machinery to facilitate the new industry is vital, but luckily for us, the patent for the equipment has been purchased by Franklin Raines, accounting fraudster and former CEO of Fannie Mae. In case you forgot, Fannie Mae and Freddie Mac were primary facilitators of the mortgage troubles in the United States. This patent was approved on November 7, 2006, just one day after Democrats took control of Congress. Former Fannie MaeVice President Scott Lesmes is famous for the purchase of risky mortgages, which were bundled together and resold to investors as mortgage-backed securities. Guess who is in charge of the carbon-trading system and plans to use a similar system of “bundling”?
So if Obama is in cahoots with Goldman Sachs, why is Goldman Sachs the current scapegoat for America’s economic troubles? Beck says, “It’s almost like Goldman is willing to take a little heat now, in order to get a little piece of the $10 trillion green pie later.” No wonder they donated nearly a million bucks to Obama’s campaign. It didn’t have anything to do with their shady Wall Street dealings and everything to do with hitting the carbon jackpot.
This isa corruption scandal that is bigger than any other in the history of the United States. It could explain the “why” behind the “Climategate” scandal that broke last year but was ignored by the American mainstream media. Not only are several former Goldman Sachs executives working inside the Obama administration, but the banking giant has a 10% stake in cap and trade technology via the Chicago Climate Exchange, an entity that Barack Obama helped form as a Board member of the Joyce Foundation. When the congressional hearings that took place with Goldman Sachs executives is viewed through the lens of this kind of conspiracy, it sheds a whole new light on what is really going on behind the curtain.
The cap and trade bill is a total scam. Al Gore stands to make at least a BILLION dollars if the Cap & Trade bill passes. The whole purpose behind needing to pass the Cap & Trade bill is to avid adding to the Global warming problem.
There Is No Freaking Global Warming Problem!! Do you get it yet?
Barack Obama was made President so he could push the Cap & Trade bill through Congress OR sign an equivalent Executive Order. Barack Obama is guilty of the LARGEST EXAMPLE OF INSIDER TRADING THAT HAS EVER AND WILL EVER HAPPEN ON THE PLANET!!!