Goldman Sachs takeover of world banking complete, Mark Carney at Bank of England rounds out Goldman triumvirate, Dudley at NY Fed, Draghi at ECB-Zero Hedge. Carney 'no Elliott Ness,' Taibbi

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7/1/13, "The Goldman Takeover Is Complete: A Glimpse Inside The Bank Of England Where Mark Carney Is Now Presiding," Zero Hedge

"Back in April 2012 we first suggested - to loud jeers by the "pundits" who were convinced there is no chance in hell of it happening - that Goldman's take over of the world's central bank triumvirate: the NY Fed (Bill Dudley), the ECB (Mario Draghi) and the Bank of England, would soon be completed with Mark Carney taking over the world's oldest central bank located on Threadneedle street. Today, this process has concluded and we have photographic evidence.

Behold Goldman's Mark Carney attending his first BOE Monetary Policy briefing (don't miss Michael Cross, Head of Foreign Exchange, and Executive Director for Markets, of Fleecebook fame sitting on the lower left). [solo shot of Carney follows]: "

  

photos from Zero Hedge

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11/27/12, "Mark Carney: The Goldman Sachs connection," UK Telegraph, R. Blackden

"Mr Carney spent 13 years at Goldman, joining after he graduated from Harvard, and worked for the bank in London, Toronto, New York and Tokyo. His appointment cements Goldman’s reputation as a bank whose reach extends into the highest echelons of central banking and government.

 
Mario Draghi, the president of the European Central Bank, was a Goldman Sachs partner and Mario Monti, the Italian technocrat prime minister, was formerly an adviser to Goldman.

The bank’s reputation really took hold when George W Bush picked Hank Paulson, Goldman’s former chief executive, as his Treasury Secretary in 2006."...

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12/6/12, "Matt Taibbi: Mark Carney Just 'Another Goldman Creature'," Huffington Post, D. Tencer

"Matt Taibbi, the Rolling Stone finance writer who rose to fame with his description of Goldman Sachs as a “vampire squid,” set his sights on Mark Carney in a blog post Thursday.

Clearly, Taibbi is no fan of the current Bank of Canada governor and soon-to-be Bank of England governor.

Carney “is no Elliott Ness, brought in from the outside to clean the streets of Chicago,” Taibbi wrote. “Instead, he's another Geithner-esque character who will almost certainly prefer a hands-off regulatory approach....”

Taibbi added: “He'll likely be another central banker in the mold of Ben Bernanke, who's used endless rivers of cheap loans and money-printing programs like Quantitative Easing to keep floating corrupt banks all night long, for as long as they want to keep playing the roulette table.”...

He (Carney) caught more than a few people by surprise last year when he described the Occupy Wall Street movement as “entirely constructive.”"...

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Below, Goldman Sachs, masters of Eurozone, map from UK Independent, 11/18/11:



Nov. 18, 2011, "What price the new democracy? Goldman Sachs conquers Europe," UK Independent, Stephen Foley 


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Obama war on US coal is huge tax increase on US consumers many yrs. into a depression with no end in sight. China is big winner, China CO2 increases negate US CO2 reductions. US martyrs in chains over a fantasy orchestrated by billionaires

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6/28/13, "In Obama's War On American Coal, China's The Victor," IBD Editorial

"While our electricity prices necessarily skyrocket under the weight of the administration's regulatory assault in fossil fuels, the world's largest carbon emitter will spew even more, preferring economic growth over climate change hype. 

 

President Obama's expansion of his war on coal to include existing coal plants may very well put the industry on the path to extinction, costing jobs and economic growth while raising energy prices, a huge tax on the American consumer. But countries like China and India are increasing their coal consumption, more than outpacing any U.S. reductions in coal use and carbon emissions.

His actions come as news outlets ponder why global temperatures have flat lined for the last 16 years or so — and despite the fact that the U.S. has led the world in carbon reductions for the last two decades. The increased use of natural gas thanks to a boom in fracking has helped fuel these reductions. That proves once again that technology fuels both growth and clean air.

Energy analysts say the administration's energy policies could push about one-third of the U.S. coal-fired fleet into retirement. In the first quarter of 2013, there were 900 active coal mines, down 17% from a year earlier. Last year, U.S. utilities burned 825 million tons of coal, down from 1.045 billion tons in 2007.

 

This would seem to be the fulfillment of Obama's goal of saving the earth by going green. Yet exports of American coal have increased as domestic production declined. Coal companies exported 126 million tons last year, up from 59 million tons in 2007, much of that to China and India. If we do not burn it here, they will burn it for us.

China's coal consumption soared to 4.33 billion tons last year, up from 2.97 billion tons in 2007. While the president hopes China and India will follow our example, such countries argue the West has had a long head start and they are not about to suspend their economic growth as they catch up.

China Doesn't Cap Growth

While pledging to reduce the share of fossil fuels in their energy mix, the Chinese are not about to stunt their growth. Su Wei, China's chief climate negotiator, says Western countries' emissions peaked when their per capita GDP was between $40,000 and $50,000. He noted the figure for China stands at $3,000. He has said China's emissions would likely increase until its per capita GDP had reached about half of the industrialized world's mark, which would mean a fivefold increase.

While U.S. emissions have fallen since 2005, China's are still increasing right along with the output of its factories. The Rhodium Group estimates that they were up by roughly 3.4% last year. China accounted for more than a quarter of worldwide emissions in 2011, according to the U.S. Energy Information Administration. The United States was responsible for just under 17%.

Global demand for coal is expected to grow to 8.9 billion tons by 2016 from 7.9 billion tons this year.

As of last November, there were at least 1,199 coal plants on the drawing board, according to a new report from the World Resources Institute. China is expected to add about 160 coal-fired plants within four years to the 620 operating now. During that period, India will add more than 46 plants.

In the Chinese view, the journey to economic growth begins with a single lump of coal. Obama's path won't save the planet but will cost jobs and push up energy bills at home." via Free Republic



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SEIU and Transit Union strike closes down BART, San Francisco-Oakland rapid transit. Avg. BART salary almost $80,000, benefits $50,000 a yr.. SEIU had strike buttons available on June 25

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"BART employs about 3,250 people whose average salary is $79,500 and who receive $50,800 in benefits annually."...

7/1/13, "San Francisco Rapid-Transit Strike Threatens Morning Commute," Bloomberg, A.Vekshin

"Workers on the commuter trains linking downtown San Francisco to its airport and the East Bay went on strike today, forcing 400,000 daily riders to hit the road in cars and buses.

The Bay Area Rapid Transit system, known as BART, was shut down by the Service Employees International Union, representing mechanics and clerical employees, and the Amalgamated Transit Union, which includes train operators and station agents, after an impasse in contract talks over pay and health and retirement benefits.

“We regret to say that after waiting for hours, we’ve received no new proposals from BART,” said Josie Mooney, a spokeswoman for the Service Employees union 1021, in an e-mailed statement. The unions will rally later today in Oakland and San Francisco, according to the statement....

No talks between both sides “appear” to have been scheduled for today, Rice was cited as saying by the San Francisco Chronicle. A mediator will seek to get talks resumed as soon as possible, the newspaper reported.

The San Francisco Municipal Railway or Muni, which operates the city’s subway, light rail lines, buses and cable cars, remained in operation. 

BART workers represented by the Services Employees union delivered a 72-hour strike notice to management on June 28. 

Sticking points included salary, whether employees should begin contributing to their pensions, and whether they should pay more for health coverage, said Rice.

The BART system opened in 1972 and connects San Francisco to East Bay cities including Berkeley and Oakland, as well as San Francisco International Airport....

BART employs about 3,250 people whose average salary is $79,500 and who receive $50,800 in benefits annually, according to BART’s website."  Image above of SEIU buttons, "Buttons are displayed during a Bay Area Rapid Transit worker strike authorization vote on June 25," getty photo.


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Egypt protesters storm Muslim Brotherhood headquarters in Cairo Monday morning, millions demonstrate on Sunday demanding Morsi resignation-BBC

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7/1/13, "Egypt protesters storm Muslim Brotherhood headquarters," BBC

"Anti-government protesters in Egypt have stormed the national headquarters of President Mohammed Morsi's Muslim Brotherhood in the capital, Cairo.

People are reported to have ransacked the building in the eastern Moqattam district and also set it on fire.

Eight people have been killed outside since Sunday, security sources say.

Earlier, the opposition movement behind the protests that saw millions take to the streets across Egypt on Sunday gave Mr Morsi until Tuesday to resign.

Tamarod (Rebel) said Mr Morsi would face a campaign of civil disobedience if he did not leave power and allow elections to be held.

Protesters across Egypt have accused the president of failing to tackle economic and security problems since being elected a year ago. His supporters have insisted he needs more time.

Millions of people attended demonstrations across the country on Sunday to demand Mr Morsi step down.
 

The crowds seen in Cairo's Tahrir Square were the biggest since the 2011 revolution that toppled Hosni Mubarak.

 
Sporadic outbreaks of violence were reported nationwide. Four people were killed in the central province of Assiut, while security sources told BBC Arabic that eight people had died in clashes around the Muslim Brotherhood's headquarters in Moqattam since Sunday evening.

Overnight, protesters threw petrol bombs and rocks at armed guards inside, who retaliated by firing at them. 

On Monday morning, the protesters stormed the six-storey building and began throwing objects of broken windows. One protester was seen removing the Muslim Brotherhood sign, while an Egyptian flag was flown from a balcony.

Witnesses told the AFP news agency that no members of staff had been inside the building when it was stormed because they had been escorted out earlier.

The movement's leaders have complained that the police have failed to protect its headquarters.

Earlier, Tamarod issued a statement saying the protesters would give Mr Morsi until 17:00 (15:00 GMT) on Tuesday to leave power and allow state institutions to prepare for early presidential elections.

Otherwise, people would begin a campaign of "complete civil disobedience", the group warned.

It urged "state institutions including the army, the police and the judiciary, to clearly side with the popular will as represented by the crowds".

The group also rejected offers of dialogue from the president.

"There is no way to accept any half measures," it said. "There is no alternative other than the peaceful end of power of the Muslim Brotherhood and its representative, Mohammed Morsi."

On Saturday, Tamarod said it had collected more than 22 million signatures - more than a quarter of Egypt's population - in support.

But Mr Morsi was defiant in an interview published on Sunday, rejecting the opposition calls for early presidential elections.

"If we changed someone in office who [was elected] according to constitutional legitimacy - well, there will be people opposing the new president too, and a week or a month later they will ask him to step down," he told the Guardian newspaper.

He said he would not tolerate any deviation from constitutional order.

"There is no room for any talk against this constitutional legitimacy. There can be demonstrations and people expressing their opinions," he added. "But what's critical in all this is the adoption and application of the constitution. This is the critical point."" below photo from twitter pic. top photo via bbc

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"As night fell today, it quickly became clear the size of the June 30 protests by opponents of President Mohammed Morsi would eclipse those seen during the revolution.

Egypt’s CBC cable channel showed a split-screen of high shots of the various protests, each box revealing a staggering number of Egyptians walking and chanting.

It’s impossible to confirm, but a military source told the Al Masry Al Youm newspaper that millions had taken to the streets in the biggest protests Egypt has ever seen. It’s easy to believe."...photo via twitterpic, 6/30/13

6/30/13, "Reporter’s Notebook: Millions March in Egypt Protests," ABCNews.go.com, Alexander Marquardt 
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Nobel Prize-winning scientist and Obama supporter Dr. Ivan Giaever resigned from elite American Physical Society over its policy advocating global warming. 16 scientists sign WSJ article supporting facts that CO2 is not a pollutant and isn't harming the world, 1/27/12

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"Lysenko and his team lived very well, and they fiercely defended their dogma and the privileges it brought them."

1/27/12, "No Need to Panic About Global Warming," Wall St. Journal, opinion

"There's no compelling scientific argument for drastic action to 'decarbonize' the world's economy."

"Editor's Note: The following has been signed by the 16 scientists listed at the end of the article:"... 

"A candidate for public office in any contemporary democracy may have to consider what, if anything, to do about "global warming." Candidates should understand that the oft-repeated claim that nearly all scientists demand that something dramatic be done to stop global warming is not true. In fact, a large and growing number of distinguished scientists and engineers do not agree that drastic actions on global warming are needed.

In September, Nobel Prize-winning physicist Ivar Giaever, a supporter of President Obama in the last election, publicly resigned from the American Physical Society (APS) with a letter that begins: "I did not renew [my membership] because I cannot live with the [APS policy] statement:  'The evidence is incontrovertible: Global warming is occurring. If no mitigating actions are taken, significant disruptions in the Earth's physical and ecological systems, social systems, security and human health are likely to occur. We must reduce emissions of greenhouse gases beginning now.' In the APS it is OK to discuss whether the mass of the proton changes over time and how a multi-universe behaves, but the evidence of global warming is incontrovertible?"

In spite of a multidecade international campaign to enforce the message that increasing amounts of the "pollutant" carbon dioxide will destroy civilization, large numbers of scientists, many very prominent, share the opinions of Dr. Giaever. And the number of scientific "heretics" is growing with each passing year. The reason is a collection of stubborn scientific facts. 

Perhaps the most inconvenient fact is the lack of global warming for well over 10 years now. This is known to the warming establishment, as one can see from the 2009 "Climategate" email of climate scientist Kevin Trenberth: "The fact is that we can't account for the lack of warming at the moment and it is a travesty that we can't." But the warming is only missing if one believes computer models where so-called feedbacks involving water vapor and clouds greatly amplify the small effect of CO2.

The lack of warming for more than a decade—indeed, the smaller-than-predicted warming over the 22 years since the U.N.'s Intergovernmental Panel on Climate Change (IPCC) began issuing projections—suggests that computer models have greatly exaggerated how much warming additional CO2 can cause. Faced with this embarrassment, those promoting alarm have shifted their drumbeat from warming to weather extremes, to enable anything unusual that happens in our chaotic climate to be ascribed to CO2.
The fact is that CO2 is not a pollutant. CO2 is a colorless and odorless gas, exhaled at high concentrations by each of us, and a key component of the biosphere's life cycle. Plants do so much better with more CO2 that greenhouse operators often increase the CO2 concentrations by factors of three or four to get better growth. This is no surprise since plants and animals evolved when CO2 concentrations were about 10 times larger than they are today....

Although the number of publicly dissenting scientists is growing, many young scientists furtively say that while they also have serious doubts about the global-warming message, they are afraid to speak up for fear of not being promoted—or worse. They have good reason to worry. In 2003, Dr. Chris de Freitas, the editor of the journal Climate Research, dared to publish a peer-reviewed article with the politically incorrect (but factually correct) conclusion that the recent warming is not unusual in the context of climate changes over the past thousand years. The international warming establishment quickly mounted a determined campaign to have Dr. de Freitas removed from his editorial job and fired from his university position. Fortunately, Dr. de Freitas was able to keep his university job. 

This is not the way science is supposed to work, but we have seen it before—for example, in the frightening period when Trofim Lysenko hijacked biology in the Soviet Union. Soviet biologists who revealed that they believed in genes, which Lysenko maintained were a bourgeois fiction, were fired from their jobs. Many were sent to the gulag and some were condemned to death. 

Why is there so much passion about global warming, and why has the issue become so vexing that the American Physical Society, from which Dr. Giaever resigned a few months ago, refused the seemingly reasonable request by many of its members to remove the word "incontrovertible" from its description of a scientific issue? There are several reasons, but a good place to start is the old question "cui bono?" Or the modern update, "Follow the money." 

Alarmism over climate is of great benefit to many, providing government funding for academic research and a reason for government bureaucracies to grow. Alarmism also offers an excuse for governments to raise taxes, taxpayer-funded subsidies for businesses that understand how to work the political system, and a lure for big donations to charitable foundations promising to save the planet. Lysenko and his team lived very well, and they fiercely defended their dogma and the privileges it brought them.

Speaking for many scientists and engineers who have looked carefully and independently at the science of climate, we have a message to any candidate for public office: There is no compelling scientific argument for drastic action to "decarbonize" the world's economy. Even if one accepts the inflated climate forecasts of the IPCC, aggressive greenhouse-gas control policies are not justified economically....

If elected officials feel compelled to "do something" about climate, we recommend supporting the excellent scientists who are increasing our understanding of climate with well-designed instruments on satellites, in the oceans and on land, and in the analysis of observational data. The better we understand climate, the better we can cope with its ever-changing nature, which has complicated human life throughout history. However, much of the huge private and government investment in climate is badly in need of critical review. 

Every candidate should support rational measures to protect and improve our environment, but it makes no sense at all to back expensive programs that divert resources from real needs and are based on alarming but untenable claims of "incontrovertible" evidence."

"Claude Allegre, former director of the Institute for the Study of the Earth, University of Paris;
J. Scott Armstrong, cofounder of the Journal of Forecasting and the International Journal of Forecasting;
Jan Breslow, head of the Laboratory of Biochemical Genetics and Metabolism, Rockefeller University;
Roger Cohen, fellow, American Physical Society;
Edward David, member, National Academy of Engineering and National Academy of Sciences; William Happer, professor of physics, Princeton;
Michael Kelly, professor of technology, University of Cambridge, U.K.;
William Kininmonth, former head of climate research at the Australian Bureau of Meteorology; 
Richard Lindzen, professor of atmospheric sciences, MIT;
James McGrath, professor of chemistry, Virginia Technical University;
Rodney Nichols, former president and CEO of the New York Academy of Sciences;
Burt Rutan, aerospace engineer, designer of Voyager and SpaceShipOne;
Harrison H. Schmitt, Apollo 17 astronaut and former U.S. senator;
Nir Shaviv, professor of astrophysics, Hebrew University, Jerusalem;
Henk Tennekes, former director, Royal Dutch Meteorological Service;
Antonio Zichichi, president of the World Federation of Scientists, Geneva."

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Nov. 29, 2012: 134 scientists wrote letter to UN Sec. Gen., ask him to stop alarmist speech in light of 16 yrs. with no global warming, includes NOAA citation: 

12/11/12, “Open letter to UN Secretary-General: Current scientific knowledge does not substantiate Ban Ki-Moon assertions on weather and climate, say 125-plus scientists,“ Special to the Financial Post

“The NOAA “State of the Climate in 2008” report asserted that 15 years or more without any statistically-significant warming would indicate a discrepancy between observation and prediction. Sixteen years without warming have therefore now proven that the models are wrong by their creators’ own criterion.”…(2nd parag. fr. end of letter). “Global warming that has not occurred cannot have caused the extreme weather of the past few years.”…
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2005 and 2010, Phil Jones cites cooling and lack of warming since 1998, 1995:
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Lead UN Nobel winning scientist Phil Jones in a 2005

email said the planet has "cooled from 1998," but "scientific community would come down on me in no uncertain terms" if I said so. In 2010 newspaper article Jones said the planet has not warmed since 1995.

1. ClimateGate email, July 5, 2005, Phil Jones said planet had cooled since 1998:
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"The scientific community would come down on me in no uncertain terms if I said the world had cooled from 1998.

• OK it has

but it is only 7 years of data and it isn't statistically significant."...
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The scientific community would come down on me in no uncertain terms if I said the world had cooled from 1998. OK it has but it is only 7 years of data and it isn’t statistically significant. - See more at: http://www.lesjones.com/2009/11/30/climategate-phil-jones-admits-recent-cooling-trend/#sthash.gGuJlRuB.dpuf

From: Phil Jones
To: John Christy
Subject: This and that
Date: Tue Jul 5 15:51:55 2005
The scientific community would come down on me in no uncertain terms if I said the world had cooled from 1998. OK it has but it is only 7 years of data and it isn’t statistically significant.
- See more at: http://www.lesjones.com/2009/11/30/climategate-phil-jones-admits-recent-cooling-trend/#sthash.gGuJlRuB.dpuf

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2. 2/14/10, "ClimateGate U-Turn as scientist at centre of row admits: there has been no global warming since 1995," UK Daily Mail, J. Petre
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"He further admitted that in the last 15 years there had been no ‘statistically significant’ warming, although he argued this was a blip rather than the long-term trend."...

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Thanks to GOP Court Jesters, King Obama decrees electricity will cost more in US, then decrees Africa will light up with new power plants via $7 billion US peasant taxpayer dollars

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6/30/13, "The Grand Prize in Obama’s War on Coal™," Watts Up with That, by Willis Eschenbach

Among comments: "William Astley says: June 30, 2013 at 7:19 pm

Obama promises to make electrical power costs more expensive in the US and promises to spend money in Africa for power plants.
Obama is fortunate to have his own government. It is a shame there are no longer checks and balances in the US system. When did Obama become King?

http://www.independent.co.uk/news/world/americas/barack-obama-pledges-energy-cash-to-light-up-africas-darkness-8680599.html
 
“Barack Obama pledges energy cash to light up Africa’s darkness
 
US President promises funding to provide ‘the energy to lift people out of poverty’ by doubling Africans’ access to electricity.

Mr Obama said his government (William: it is nice to have one’s own government to promise money that one does not have during your summer holidays) would provide $7bn (£4.6bn) in public funding.”"



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Egypt anti-Morsi crowds appear bigger than anti-Mubarek crowds, say Morsi advanced Muslim Brotherhood and not Egypt

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6/30/13, "Reporter’s Notebook: Millions March in Egypt Protests," ABCNews.go.com, Alexander Marquardt

"We’ve covered a lot of protests in Egypt since the fall of President Hosni Mubarak, but the last time we’d seen anything on this massive scale was in the days following Jan. 25, 2011, when the revolution started against him.

As night fell today, it quickly became clear the size of the June 30 protests by opponents of President Mohammed Morsi would eclipse those seen during the revolution
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Egypt’s CBC cable channel showed a split-screen of high shots of the various protests, each box revealing a staggering number of Egyptians walking and chanting.

It’s impossible to confirm, but a military source told the Al Masry Al Youm newspaper that millions had taken to the streets in the biggest protests Egypt has ever seen. It’s easy to believe. 

On the road to the palace this afternoon, the mass of humanity stretched in both directions as far as the eye could see. It was a brain-rattling cacophony of car honking, megaphones and chants. Men, women and children of all stripes were out to protest Morsi’s first year in office and his inability to get Egypt back on track.

“A year, he did nothing for this year,” Ghada Ahmd said. “He is not even trying. He is doing everything for his Muslim Brotherhood group. Not for Egypt, not for Egyptians. He is ignoring everything.”"...via Atlas Shrugs. photo via twitterpic, 6/30/13


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NOAA scientist disputes Mayor Bloomberg, says 2012 Sandy storm likely due to natural causes and not man-caused excess CO2 or global warming-Dot Earth

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Andrew Revkin 10/28/12 post about Sandy Storm includes response from NOAA scientist Dr. Martin Hoerling stating Sandy was likely due to natural causes and not excess CO2:

10/28/12, "The #Frankenstorm in Climate Context," Dot Earth, NY Times, Andrew Revkin

"8:11pm Update"

"Martin Hoerling, a meteorologist at the National Oceanic and Atmospheric Administration focused on the forces influencing extreme weather, sent this note:

"Great events can have little causes. In this case, the immediate cause is most likely little more that the coincidental alignment of a tropical storm with an extratropical storm. Both frequent the west Atlantic in October…nothing unusual with that. On rare occasions their timing is such as to result in an interaction which can lead to an extreme event along the eastern seaboard. As to underlying causes, neither the frequency of tropical or extratropical cyclones over the North Atlantic are projected to appreciably change due to climate change, nor have there been indications of a change in their statistical behavior over this region in recent decades (see IPCC 2012 SREX report).""

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