review of Trading On Thin Air.txt

Trading on Thin Air:

How the schemes of financial institutions make money for those institutions. Fractional reserve and fear currency contribute to growth but have negative effects to which average citizens are vulnerable. Among the consequences are economic instability with periods of financial contraction, unemployment, and rising prices.

The strategies of carbon credits, carbon taxes, offsets and cap and trade make big money for the agencies (banks and other financial firms) that administer them and for government. A small percentage of the sale is given to the trading agencies. The sums of money traded are so hugh that trading companies receive billions of dollars. The trading agencies thereby benefit greatly from the belief that manmade CO2 emissions cause dangerous climate change and so carbon emission must be controlled.

The trading agencies have political and financial clout, enough to influence media coverage of climate change, legislation, and research findings. Large companies have a fianancial incentive to promote the theory of anthropogenic global warming. Oil companies and electrical generating companies can sell carbon credits to finance the building of nuclear power plants, more efficient coal burning power plants, and other projects that can be considered to contribute less to global warming.

The corporate constituency is so hugh that the power of consumer advocacy groups is overwhelmed. Undesirable effects occur. A more effective and less expensive system of carbon taxes is ignored in favor of the more industry friendly carbon credits. Rising food prices result when land is converted from food production to production of bio fuels. Farmers are forced off land by dam building. Consumption of non renewable resources continues instead of a switch over to renewable energy sources.

Summary by:
Alan Detwiler, author of Thrivers In An Uncertain Future; bio at