#2
Well, the party is over, and as you wake up with a monster hangover in a strange bed, you find that things look quite a bit different now than what they appeared to be last night.
Posted by: Alaska Paul ||
11/19/2010 11:15 Comments ||
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#3
Mish Shedlock's comment: Rat's Ass Perspective
The other countries in the EU do not give a rat's ass about Ireland. All they really cares about is $650 billion in loans on the books of UK, German, French, Italian, and Spanish banks.
The US is of course the third most interested party and will no doubt apply pressure on the IMF to apply pressure on Ireland to accept some sort of bailout.
Ireland is sitting on a pile of cash. That cash will last much longer if Ireland defaults and that I believe is just what Ireland should do.
The short answer is for Ireland to tell the EU and IMF to "Stuff It".
Every country for itself. There is simply no reason for Irish citizens to bailout UK, German, French, and US banks.
Meanwhile, back in the USA, US citizens continue to bailout US banks by devaluing the dollar and piling up the national debt.
In what are likely to prove controversial proposals, Dominique Strauss-Kahn, the IMF managing director, called on the European Union to move responsibility for fiscal discipline and structural reform to a central body that is free from the influences of member states.
In a speech in Frankfurt addressing the sovereign debt crisis engulfing Europe once again, he said: The wheels of co-operation move too slowly. The centre must seize the initiative in all areas key to reaching the common destiny of the union, especially in financial, economic and social policy. Countries must be willing to cede more authority to the centre.
Europe is plagued by crisis because member states put too much faith in banks and let their public finances run out of control. Greece has already been bailed out and Ireland is expected to agree a 100bn (£85bn) rescue within days. Portugal is also at risk.
One need read no further than the U.N. International Climate Accord [PDF] ultimately shot down at Copenhagens climate summit last year to understand the organizations international wealth redistribution goals. The failed treaty actually contained as many paragraphs outlining the payment of "climate debt" reparations by Western nations as it did emission reduction schemes.
Indeed, for nearly 50-years the U.N. has formulated its own unique brand of social justice under the guise of saving the planet by demonizing one byproduct of Western economic growth or another. Carbon Dioxide is, of course, merely the devils derivative du jour.
Now, a high-ranking member of the U.Ns Intergovernmental Panel on Climate Change (IPCC) has admitted that climate policy has little to do with environmental protection.
On Sunday, Ottmar Edenhofer, a German economist and IPCC Co-chair of Working Group III on Mitigation of Climate Change, told the Neue Zürcher Zeitung (translated) that climate policy is redistributing the world's wealth and that it's a big mistake to discuss climate policy separately from the major themes of globalization.
Edenhofer went on to explain that in Cancun, the redistribution of not only wealth but also natural resources will be negotiated, adding that:
The climate summit in Cancun at the end of the month is not a climate conference, but one of the largest economic conferences since the Second World War.
And another shot at playing Robin Hood with Americans money. As I addressed yesterday:
Now consider the U.N. plan to levy a climate reparations tax on the developed world (read that United States) on everything from airline flights and international shipping to fuel and financial transactions to the tune of $100 billion annually. That scheme is backed by both Obama advisor Lawrence Summers and radical anti-American billionaire George Soros as a means to meet the annual figure international leaders agreed to in Copenhagen and will be a primary goal at Cancun in a few weeks.
Will Barack Obama and his fellow recently repudiated Democrats actually entertain incurring further international debt on the backs of strapped American taxpayers (whose belief in AGW is at an all-time low), given Edenhofers staggering affirmation?
#5
The UN cretins what to redistribute your wealth into their pockets. The poor of the world can buzz off.
Posted by: Barbara Skolaut ||
11/19/2010 20:57 Comments ||
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#6
IPCC + UNO
versies
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#1
Possibly Herr Edenhofer will protest that this characterization of his remarks is unfair.
Predictable Spin control: They will say that Edenhofer didn't mean to imply that the goal of climate change mitigation was for wealth redistribtion. No sir! He was simply making a critical observation of the process. And, if anything, he was voicing his disdain on how far the participants have strayed from their original altruistic ideals.
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trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
