Saturday, January 22, 2011

Andrei Say it isn't so

We are doomed, the wonderful scheme to save the planet from human economic activity by transferring wealth from the productive to the parasitic, chattering classes is rife with fraud.

Under the flagship trading scheme, companies need permits to emit carbon dioxide as part of the global fight against climate change. Polluters are granted a certain number of emissions allowances that can be traded.

However, it has been plagued by fraud, with Europol estimating that criminals trying to play the system accounted for up to 90pc of all market activity in some European countries during 2009.

Fraudulent traders mainly from Britain, France, Spain, Denmark and Holland pocketed an estimated €5bn.

Well I'll be! Who'd have thunk it possible?

2 comment(s):

Lucia Maria said...

5 billion euro!

ZenTiger said...

And a fair proportion of that will be tax payer Euro I suppose. Or is every country with mandatory superannuation about to find most of the value wiped out coming up to retirement?

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