ETS in context

With many thanks to Kaboom, this (relatively old) article puts the global financial crisis and Turnbull’s support of an emissions trading scheme into disturbing context. Remember, Turnbull made his money at Goldman Sachs.

Not that making money is a bad thing… in principle.

Yet, some players bet on the Internet bubble, the housing, er, bust, the huge rise in oil prices (despite lower demand and greater supply), and now?

Thin air. Taxing thin air. Regulating thin air.

It’s called Cap n’ Trade.

But who are they? They made a lot whilst most lost a lot. It would be good to know since they’ve made a lot of money so far and are poised to make a lot more.

They, allegedly, are Goldman Sachs, and as the article shows, “they” are everywhere… but now we know where, kk (that’s Korean for LOL).

The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who’s Who of Goldman Sachs graduates.

The bank’s unprecedented reach and power have enabled it to turn all of America into a giant pumpanddump scam, manipulating whole economic sectors for years at a time, moving the dice game as this or that market collapses, and all the time gorging itself on the unseen costs that are breaking families everywhere — high gas prices, rising consumercredit rates, halfeaten pension funds, mass layoffs, future taxes to pay off bailouts. All that money that you’re losing, it’s going somewhere, and in both a literal and a figurative sense, Goldman Sachs is where it’s going: The bank is a huge, highly sophisticated engine for converting the useful, deployed wealth of society into the least useful, most wasteful and insoluble substance on Earth — pure profit for rich individuals.

And here’s the real punch line. After playing an intimate role in four historic bubble catastrophes, after helping $5 trillion in wealth disappear from the NASDAQ, after pawning off thousands of toxic mortgages on pensioners and cities, after helping to drive the price of gas up to $4 a gallon and to push 100 million people around the world into hunger, after securing tens of billions of taxpayer dollars through a series of bailouts overseen by its former CEO, what did Goldman Sachs give back to the people of the United States in 2008?

Fourteen million dollars.

But here’s the catch. The last century saw unprecedented advancements in technology and the average standard of living. That’s bing’s opinion, anyway.

Clear cut?

Hmmm. But historically, we’ve witnessed societies decline. Continually robbing people could perhaps help facilitate that. Not that anyone is accusing Goldman Sachs of that – I invest myself – but perhaps it would be wise – long term wise – for Goldman Sachs to reiterate their “long term greed” strategy, and exactly what it means, and to clarify if or if not this is their current strategy… and why or why not…

Right, Left, or wrong, there are a lot of people out there concerned that the West is in decline. Not really a huge stretch of the imagination, especially for those who studied history in high school. This concern is not being adequately addressed.

Anyone who who knows anything about history would know making short term gains for long term pain is fucked. Perhaps not for certain individuals, but certainly for society and most likely for thus that said individual’s descendants.

Sure, we have increased technology, but what about the principles behind it?

(Isn’t it ironic how capitalism and socialism mix sometimes?)

Anyway, I think this is part of what we’re talking about when we talk about the decline of the West.

The linked article ties in directly to the money and power page on this blog.

That Malcolm Turnbull is an ex Goldman Sachs employee, and a major one at that, and that he’ co-opting Australia’s ETS aka CPRS, and that, it if nothing else will help bankers ($$$) at firms such as Goldman Sachs… IT JUST REEKS.


And please, do take the time to read the original article.

No one at Tizona’s is against money, or capitalism. But we are against being conned by an ETS scheme, that Turnbull agreed to, that could directly benefit his ex-workmates who, according to the linked article, were allegedly implicit in implementing.

And please prove me wrong – with argument, not lawsuits – that Malcolm Turnbull is trashing the alternative voice.

What next? The moon? Done. Mars? Hmm, getting there. Europa (not to be confused wit the EU).

It’s gangsta stuff that makes Capone look like an amateur.

Just one thing… The entire century Goldman Sachs was allegedly doing this kind of stuff, the standard of living skyrocketed, pardon the pun.


Kabs can go shove it. 😉 It’s actually been Colin who’s, exasperatedly, been alerting us to this for months. Sorry, Colin.

24 Responses to “ETS in context”

  1. Carpe Jugulum Says:

    ETS – unleash the spivs and rent seekers, lets see how big this meltdown is when the market collapses.

  2. Colin Says:

    There’s much more on the Goldman connection the more you dig. Example: take a look at the bios on The Team of parasites behind Al Gore’s money-making vehicle called “Generation Investment Management” –

    Oh so apt that the head honcho’s name is “Blood”.

  3. Colin Says:

    “Just one thing… The entire century Goldman Sachs was allegedly doing this kind of stuff, the standard of living skyrocketed, pardon the pun.”

    Ummmmm…. so did the levels of private and public DEBT. Debt slavery (thus control) is what our “standard of living” was really built on.

    More on Goldman Sachs, via the Times in London. Their current head parasite very recently tried to justify bank bailouts by the taxpayer and billion-dollar bonuses, by claiming that banksters are “doing god’s work” –

    Hmmmm. Just which “god” would that be, one wonders.

    • Struth Says:

      The absurdly high house prices in metropolitan Australia is a result of many women in full time employment these days.
      They have been liberated from the kitchen sink and have joined their husbands in mortgage debt slavery. Do you think the big real estate boom and doubling of house prices earlier this decade, coinciding with an inordinate amount of TV shows dedicated to the industry was a coincidence? Hot Property, Location Location, Hot Auction, Backyard blitz, The block etc. and many more I cant think to name were all used to drive and fuel the Real estate frenzy, which in turn pushed prices through the roof, which in turn created dual-income debt slavery. Eddie Groves understood this.

    • Colin Says:

      Disagree Struth. More women are in the workplace for three reasons:

      (1) Influence of feminism re “liberation” from the terrible scourge of raising a family /sarc – do some research on the origins of that movement (hint: look at the known USA communist party connections of the original popularisers of feminism);

      (2) Appeal to greed – consumerism (I must have that, and that, and that… because “I’m worth it”); and thus

      (3) Desire and/or need to BORROW to achieve “independence” and/or all the trinkets of modern society – meaning you gotta get a job to pay for it, AND to prove your independent worth as a “liberated” woman.

      Results? More Debt Enslavement. Marriage stress. Unloved rogue kids. And ultimate goal achieved – the breakdown of the family unit as the bedrock of Western society.

      Communism by “popular revolution” of the “oppressed peasants” never worked in the West. So the solution was “soft” revolution by stealth, by undermining the family unit instead… starting with changing Western women’s attitudes, convincing them they were “oppressed”.

      It’s all there in the USA communist party’s early literature – do some hunting for yourself.

  4. Colin Says:

    Jo Nova has figured out the connection (banksters) too –

    Learn how the world is controlled by the creation of money out of thin air (by banksters only, of course), then lent to you and me at interest –

    There is no contradiction chaps. Our “rising standard of living” is really a delusion… another catchphrase that we all swallow hook line and sinker. The bigger house, new car, trinkets and consumer junk all comes at the expense of our Independence and Freedom. It’s called Debt Slavery.

    We are not free.

    A “peasant” with no debts in a “Third World” country is a free man. And he is, technically, a wealthier man than any one of us.

  5. Alan of Sydney Says:

    What I want to know is what deal was done between Rudd and Turnbull to prompt Turnbull to declare war on nearly half the Liberal parliamentarians and ALL of the Liberal’s core constituency?

    Never in Australian political history has the leader of an Opposition been so accommodating to the demands of the Government of the day!

    Not only is Turnbull in complete agreement with Rudd’s CPRS (with a bit of cosmetic tarting up to please the punters), but a dog is still a dog – but, Turnbull is prepared to fracture the whole of the parliamentary party and utterly disenfranchise the bulk of it’s core voters who now have no party to vote for.

    And Turnbull is even demanding that his fractured party strictly adhere to Rudd’s pre-Copenhagen timetable.
    To say this is bizzare is an understatement!
    I thought the job of Oppositions was to – OPPOSE!

    All this trench warfare within the Liberals for no discernible benefit – except to Rudd who can sneak this through under the cover that Turnbull is providing – without scrutiny and without consulting the Australian people.

    I suspect next week’s Newspoll will be a disaster for Turnbull, while Rudd rides the crest, having pulled off the greatest con job in history and kept his ridiculous polling figures intact.

    We live in the age of deceit. And the age of stupid!

    • Struth Says:

      Turnbull’s allegiance and duty lies with the globalists at the top of the food chain who are pushing the Global Warming scare to further their own agenda. Don’t confuse the man with a politician who has the interests of the common Australian at heart. He is there to do a job for his masters and if it means he has to sacrifice his own political career, then so be it. Why would he care?
      Someone on Bolt’s thread today said Turnbull was a Rhodes Scholar and to understand what that means. Here’s a tip: Globalsits

    • Rosemary Says:

      Absolutely right, Alan of Sydney.

      The only ones to come out of this mess smelling like roses will be the Nationals. Which is why it is critical that they distance themselves from the Liberals at the earliest opportunity possible.

      Here’s how Life is imitating Art.

      I feel a bit like Neo out of the Matrix, because we took the ‘red pill’ we now know that the world around us is some horrible virtual reality and we feel powerless to alter it. Unfortunately everyone else is being spoon-fed the ‘blue pill’ daily by the media and by corrupt Governments, and unknowingly they walk around and interact with ‘the Matrix’ thinking they are in control, yet unaware they are simply part of the machine, their bodies being used as batteries powering the matrix and ultimately being recycled as nutrient for those still living and connected to the matrix.

    • elsie of brisbane Says:

      Alan, from an opinion column in the Wall Street Journal :

      “All of which makes it even more incredible that Liberal Party leader Malcolm Turnbull, who until now has stonewalled on supporting the deal citing the economic cost, has jumped onboard this train wreck. Declaring that the opposition “saved tens of thousands of jobs” Mr. Turnbull threw his weight behind Mr. Rudd’s plan Tuesday, adding that the move demonstrates the Liberals’ “genuine and sincere commitment to action on climate change.”

      Doesn’t Turnbull realise that he is seen internationally as being an idiot?

    • Sean of Deer Park Says:

      G’Day Alan, a reasonable question.

      Personally, I believe the answer to this political nightmare regarding the ETS may be the actual Carbon Credit certificates; which I understand have already been created within Australia with connections to both major political parties.

      Some years ago, my Dad had video taped a 4Corners program which discussed briefly, the potential for a cap and trade regime in this country. I have looked online and can not find the program at the ABC web site to cite as proof. I have talked about this before on Bolta’s and also sent direct questions to all Senators. Tim Blair said this letter, as a post, contained “potentially defamatory allegations”. I thought these questions were reasonable and the community had a right to know the answers to them. I also sent copy to some journalists asking them to look into this.
      (Bing Bing, you may want to review and remove this entire post from your blog if you think it could get anyone in trouble.)

      Here is what I asked them on Sunday 4th October 2009:
      (Sent to all Senators – Most kindly responded except for the usual suspects)
      An open letter To Whom It May Concern,

      I request to have the following information clarified regarding Malcolm Turnbull, leader of the Liberal Party as well as Kevin Rudd, Prime Minister of Australia and including any other relevant political representatives of Australia. This personal disclosure, I believe, will be fundamental to public opinion of the proposed Emissions Trading Scheme (ETS) and therefore all Australian’s.

      Reportedly, Malcolm Turnbull was originally interested to join the ALP. Is this a fact?

      If my memory serves me correct, Malcolm Turnbull (is/was) one of the founding directors and member of the board of a “Shelf Company” created to issue Carbon Credits in Australia. The company formed when Kim Beazley was leader of the ALP. Is this correct?

      If true, will Malcolm and other politicians personally profit financially from the introduction of the ETS?
      (True – Yes/No. Can you please respond, Mr Turnbull?) Could this be a personal incentive as to why Malcolm Turnbull and Kevin Rudd support the introduction of an ETS in Australia?

      If my memory serves me correct, Malcolm Turnbull (sits/sat?) on the board of said shelf company; along side other directors, Kevin Rudd, Kim Beazley, Julia Gillard and several other notable political figures currently in (and out of) elected parliament.
      (Kevin Rudd/Julia Gillard – can you please confirm or deny your links to said “shelf company” and any financial interests you may have regarding future Carbon Credit trading and any financial gain you may be entitled to if the ETS is ratified by the Rudd government?)

      I recall this information was presented publicly on ABC 4Corners well prior to the 2007 election, if I am not mistaken. The program was rerun a second time following summer break. I can not locate these details online at the ABC – I have searched many times!
      [b]Perhaps some good journalism could unearth this very interesting information.[/b])

      Malcolm Turnbull’s behaviour and personal stance on the ETS this past week seems to have publically undermined the credibility of the Liberal Party. Many elected Members of Parliament and Liberal Party members have declared they are unhappy with ETS and particularly Mr Turnbull’s performance as leader of the opposition. To date, Mr Turnbull has made several bad calls since he was appointed leader of the opposition, which may have damaged the Liberal Party brand. ( Utegate , 17% popularity, threatening to resign etc…)

      In my opinion, Malcolm Turnbull is hurting the Liberal party. Malcolm Turnbull, to me, comes across as a “Yes Man” in the ALP’s favour, on record as fearing opinion polls rather than standing for Liberal Party values. I am not happy with the Liberal Party as a result and I would find it difficult to vote for the coalition under these circumstances.

      In the name of good journalism, I for one would appreciate these issues being addressed publicly by the media and ask the Liberal Party to consider a new leader, well before the next Federal election.

      (Disclaimer: I may not be accurate in my recollection; therefore I actively request a response from the coalition and others and write to all accordingly to seek clarification on the above matters. I stand to be corrected.)

      I really do not know for certain and can not verify. (Dad taped over the video! (rolls eyes) If this is true, it would certainly explain the bipartisan push to legislate the ETS and allow the trading of the Carbon Credits created by this “no name” shelf company. 4Corners reported the company was purchased for just over $400 and set up by individuals from both sides of the political fence, privately. Is it possible some politicians may have a vested interest? Are these the same group of people who are now the most senior political figures in our country?

      I never did get answers to these questions. Others in the Senate did write to me via email and by post declaring their interest in this and I certainly respected those people for their effort in taking the time to get back to me.

      I fear potential for personal financial gain could be a motivating factor in the push by these people to introduce the ETS. I have no problem with them if this is the case; good on them for seeing an opportunity prior to 2005 and being euntrepenurial about it. I do, however, think any conflict of interest needs to be declared if it exists.

    • bingbing Says:

      Good letter and most interesting IF your suspicions prove correct… IF.

      You’ve stated that your not asserting the emails contents as true, just merely enquiring.

      Unless we get some nasty letter (although buggers me who checks tizona’s inbox), it stands.

    • bingbing Says:

      Besides, I’m a non-resident of Australia and our server is in TEXAS.

    • Alan of Sydney Says:

      Nuclear powered replies gang – many of whom I know well from Andrew Bolt’s blog.

      The system works!
      And the beauty of blogging here is that our posts have a reasonable chance of not being swamped in the deluge (well, the deluge Andrew used to get in the old days of like, last Tuesday!).

      There was so much noise over at Andrew’s I was starting to wonder what the hell was the point. Like he put up 17 threads yesterday with the opportunity to comment on just one.

      That is not a blog.
      It might be a lot of things – a news service, a journalist’s opinion page, a resource of the most incredible research – but a blog it ain’t!

      I think Andrew, while luxuriating in his spare time, will also wonder where the traffic’s gone.

      I popped over for a squiz earlier today, and what he has going is the Forum, albeit by a different name. There are also a bunch of new players there and a distinct absence of many familiar names.

      Time will tell. But thanks for your fantastic replies and I think the concerted efforts of thousands of conservatives will force a major rethink by the Liberaals.

      Anyway, it’s time for Turnbull to go.
      No opposition leader can suck up to the government and expect to be loved or respected by his constituency.

      It’s time for Turnbull to go into the library, walk over to the desk and reach for the metaphorical revolver.

  6. Kaboom Says:

    “Kabs can go shove it” OREELY?

    This was my first posting on this issue in the “Andrew Bolt” discusssion:
    “Kaboom Says:
    November 25, 2009, 9:07 am at 9:07 am
    There was a commenter on Bolt’s yesterday, Colin I think, who pointed out the connection between Malcolm Turnbull and Goldman Sachs.

    He referred to a fascinating insight into the Goldman Sachs “connections” at [url][/url], which is a terriffic read.

    I haven’t heard of Matt Taibbi, but what he relates (in Rolling Stone magazine of all places!) is pure dynamite, and the fact that it is still there from July is impressive in itself!

    If even a small part of what Taibbi writes is correct, this goes a long way towards explaining Turnbull’s bizarre actions.

    Turnbull, of course, is ex Goldman Sachs.”

    Note that I fully attributed this to Colin, and identified him as a poster from Bolta’s blog the day prior.

    All snivelling, grovelling and craven apologies may be considered for acceptance.

    • bingbing Says:

      *Bing takes out cat-o-nine tails and goes to town

      Sorry. Please forgive me.

  7. Kaboom Says:

    My second posting was in the “Turnbull on the Brink” thread, and again I attributed Colin (whom I see has joined us!):

    “Kaboom Says:
    November 25, 2009, 10:00 am at 10:00 am

    There was a commenter on Bolt’s Blog yesterday (Colin, I think?) who posted a link to an interesting article by Matt Taibbi in Rolling Stone magazine, setting out the “connections” enjoyed worldwide by Goldman Sachs.

    In looking for a motive for Malcolm Turnbull’s strange behaviour, you should remember that he is a wealthy ex-Golman Sachs executive.

    I have never heard of Matt Taibbi, but if even a fraction of what he says about GS is true, then this is just political dynamite.

    Here is the link to the Taibbi article in Rolling Stone (of all places!).

    It has been around since July this year, so the fact that it hasn’t been pulled lends a bit of credence.”

    Please press the “submit” button (Geez, I like that word!) with your abject, contrite and prompt snivelling apology.

    • bingbing Says:

      It was a joke trying to deflect attention away from the fact I didn’t attribute Colin originally in the post.

    • Kaboom Says:

      Well, on a 1 to 10 scale of abject snivelling, grovelling, craven, contrite apologies, that rates about a 4.

      However, I am feeling magnanimous today, and I’ve just played “Hide the Decline (Hide the decline)” for the umpteenth time, and I cannot keep the grin off my face, so Bingster, you are forgiven for your pusillanimous conduct.

    • bingbing Says:

      Geez that’s harsh. My back is gushing blood and muscle has been ripped from the bone.

  8. Colin Says:

    The Matrix is a very apt analogy indeed, Rosemary.

  9. Colin Says:

    Kaboom, IMO you’re a legend for passing the message along. Let’s hope others do likewise.

    • bingbing Says:


  10. Quantitative easing explained « James Board Says:

    […] and from a post I did about this time last year, Goldman Sachs would play a big part in any Aussie ETS, and most likely in the new carbon TAX that Julia Gillard […]

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