The $10 Trillion Climate Fraud

Investor’s Business Daily
4/28/2010

Cap-And-Trade: While senators froth over Goldman Sachs and derivatives, a climate trading scheme being run out of the Chicago Climate Exchange would make Bernie Madoff blush. Its trail leads to the White House.

Al Gore is co-founder of an investment management firm that is now the fifth-largest shareholder in the Chicago Climate Exchange. AP

Al Gore is co-founder of an investment management firm that is now the fifth-largest shareholder in the Chicago Climate Exchange. AP

Lost in the recent headlines was Al Gore’s appearance Monday in Denver at the annual meeting of the Council of Foundations, an association of the nation’s philanthropic leaders.

“Time’s running out (on climate change),” Gore told them. “We have to get our act together. You have a unique role in getting our act together.”

Gore was right that foundations will play a key role in keeping the climate scam alive as evidence of outright climate fraud grows, just as they were critical in the beginning when the Joyce Foundation in 2000 and 2001 provided the seed money to start the Chicago Climate Exchange. It started trading in 2003, and what it trades is, essentially, air. More specifically perhaps, hot air.

The Chicago Climate Exchange (CCX) advertises itself as “North America’s only cap-and-trade system for all six greenhouse gases, with global affiliates and projects worldwide.” Barack Obama served on the board of the Joyce Foundation from 1994 to 2002 when the CCX startup grants were issued. As president, pushing cap-and-trade is one of his highest priorities. Now isn’t that special?

Few Americans have heard of either entity. The Joyce Foundation was originally the financial nest egg of a widow whose family had made millions in the now out-of-favor lumber industry.

After her death, the foundation was run by philanthropists who increasingly dedicated their giving to liberal causes, including gun control, environmentalism and school changes.

The article continues at IBD.

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