Chinese Stocks: Why They’re Under Scrutiny

When you trade micro-cap stocks or small-cap stocks, there is added risk. And when you trade Chinese small-cap stocks, there is even more risk.

Just take a look at the media these days and you’ll find some small Chinese company making the news…but for the wrong reasons.

There has been a rise in discussions on the strategy of reverse mergers in the media. The speculation is that numerous small Chinese stocks debuting on the domestic exchanges (via reverse mergers) are currently being investigated for pump and dump schemes and questionable reporting practices on their statements.

Reverse mergers or takeovers occur when a private company that wants to go public finds a shell company that is trading and buys the shell. The private company then transfers its assets into the empty shell and, after some minor reporting, the company becomes public.

The advantage is that it is much easier to take over a shell company than it is to get listed via the traditional method. The reporting requirements are much less stringent in a reverse merger. This appears to have attracted numerous Chinese companies.

I’m not saying all of these Chinese reverse mergers should be the subject of investigation; but, as this strategy is the easiest method of listing on domestic exchanges, I’m not surprised to hear of wrongdoings in this area.

It appears that there’s a witch hunt on for these small Chinese companies, many of which are likely legit. Yet, we are seeing short sellers, bloggers, and anyone with access to writing on the Web posting negative reports on small Chinese companies.

China MediaExpress Holdings, Inc. (NASDAQ/CCME) saw its share price plummet by over 30% on surfacing news that the company would be the target of an investigation for a pump and dump scheme. The allegation is that the company, via a reverse merger, pumped up the positive news, driving up the stock price, and then dumped the stock for massive profits. Again, it’s only an allegation and is yet to be proven.

China Electric Motor, Inc. (NASDAQ/CELM) hit a wall on Thursday morning after announcing the delay of its 10K, Q4, and 2010 reports.

China Education Alliance, Inc. (NYSE/CEU) announced on Thursday that it would need to delay its earnings conference, but said it was not due to accounting issues. But you have to wonder…

China Century Dragon Media, Inc. (AMEX/CDM) is under investigation and could see delisting from AMEX.

FUQI International, Inc. (formerly NASDAQ/FUQI; now Pink Sheets/FUQI.PK) was delisted. It currently trades on the Pink Sheets.

Other Chinese companies subject to allegations include China Green Agriculture, Inc. (NYSE/CGA), China Agritech, Inc. (NASDAQ/CAGC), AutoChina International Limited (NASDAQ/AUTC), and China Valves Technology, Inc. (NASDAQ/CVVT).

I have covered many of these stocks based on what I believe were factual results and information. You cannot always differentiate the good information from bad. When a sole short seller attacks a company, you have to take a step back and wonder.

Worst yet is that we are seeing stock bloggers rip into companies, driving the stock down. When a sole blogger can drive a share price down, you come to understand the extreme nervousness in the market.

The way I see it is that we have to be careful here. There are some suspicious companies, but I feel that the majority of Chinese companies are legit, including some of those that formed via reverse mergers.

While there are problem companies, many of these Chinese stocks are unfairly being dumped upon. I suggest you take the opportunity to buy on weakness, unless there are numerous allegations against the company, especially from reputable sources. In these cases, AVOID.

George is a Senior Editor at Lombardi Financial, and has been involved in analyzing the stock markets for two decades where he employs both fundamental and technical analysis. His overall market timing and trading knowledge is extensive in the areas of small-cap research and option trading. George is the editor of several of Lombardi’s popular financial newsletters, including The China Letter, Special Situations, and Obscene Profits, among others. His trading advice on stocks and options is also found on his daily trading site, Daily Profits. He has written technical and fundamental columns for numerous stock market news web sites, and he is the author of Quick Wealth Options Strategy and Mastering 7 Proven Options Strategies. Prior to starting with Lombardi Financial, George was employed as a financial analyst with Globe Information Services.

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US Dollar Under Acute Pressure: The World seeks an Alternative Reserve Currency

by Bob Chapman

The US dollar continues under acute pressure, as the world seeks an alternative reserve currency.

The days and years of manipulation, fraud and criminal behavior are fast coming to an end. New alliances are evolving, as are outspoken advocates of a new world reserve currency. As a result more and more foreigners are bypassing Treasury and Agency bonds, as well as other US dollar denominated investments. We watch as other major nations accumulate gold and cannot help but think that the new world reserve currency will be gold backed.

Over the past 11 years the Fed and other central banks have increased money and credit by several devices and in the last three years more aggressively by purchasing bonds and via using swaps. QE1’s monetary creation has now begun to affect costs and the entire price structure. As wages lay stagnant the resultant inflation will eventually destroy the middle class, the structure that holds American society together. As the taxpayer saves the financial institutions the middle class is being destroyed. They are funding their own demise.

We believe inflation is currently 8% and should be 14% by yearend. That is the result of QE1 and stimulus 1. Next year the US economy will be impacted by QE2 and stimulus 2. If we get QE3 and stimulus 3, 2013 will be impacted. Inflation could range from 25% to 50%, or more, dependent upon what the elitists have in store for us. While this transpires unemployment will rise and government revenues will fall increasing the already colossal debt. That means consumption will fall as a percentage of GDP from 70% to perhaps 64.5%, the long term mean, by the end of 2013 if we get QE3 and stimulus 3. People will only be able to spend on basics. That also means corporate profits will fall, as well as share prices. That, of course, will depend on whether the “Working Group on Financial Markets” is able to hold the markets up and keep them from falling. Deficits will spiral completely out of control, as will personal and corporate insolvencies. That means education will be cut to the bare bones. Instead of 18 to 21 children in a class you will see 36 to 42. Social services and welfare will be cut in half.

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Under The Ceiba: The Sacred World Tree of the Maya

The Ceiba Tree is the sacred World Tree of the Maya, as such, it has many representations. According to the mythology of the ancient Maya of Central America, where I live, the great Ceiba tree stood at the center of the earth, connecting our Earth world to the Spirit world in the heavens above. The Ceiba descends 9 levels into the underworld, which is not considered hell, but a cold, damp, dark place called Xibalbá. “The presence of the Ceiba in the underworld is a very ancient concept throughout the Maya world. In the sixteenth century, Diego de Landa, first bishop of Yucatan, recorded that the souls of the benevolent dead entered “a place where nothing would give pain, where there would be an abundance of food and delicious drinks, and a refreshing and shady tree they called Yaxché, the Ceiba beneath whose branches and shade they might rest and be in peace forever.” (http://maxwellinstitute.byu.edu) The underworld is in fact not a place of punishment, but a place where darkness may go to be transformed to light.

The bridge from the underworld to the heavens is middle Earth, our Earth. The Ceiba then reaches upward 13 levels to the heavens where Hunab Ku, their Supreme Deity, resides at the top. Every Maya village, both ancient and modern, is centered around a Ceiba as this tree offers protection, enlightenment, prosperity and eternal life. Even today, as forest are being cleared, it is not uncommon to see the workers leave in place their sacred Ceiba, such is its significance to their lives. Hunab Ku, is not only Supreme Creator, but its energy represents the very source from which all consciousness springs. The Ceiba tree and this Deity’s importance cannot be underestimated now in the closing days of the Mayan Calendar.

The Mayan Calendar, which is quickly counting down to 13-0-0-0-0-, will commence with an extraordinary astrological event of our Earth and Sun conjuncting with the intersection of the Milky Way and the Solar System’s ecliptic cycle forming a cross in the sky. This cross has been symbolized by the Maya as a Ceiba Tree and it marks the end of a cycle and the beginning of a new era. The Ceiba Tree, the Tree of Life, is where all life force begins and ends, and sitting in its center is Hunab Ku, often thought of as a God, but which is really a point: a point from which all consciousness originates. A place from which everything is either created or destroyed in very predictable cyclic patterns. Soon our Earth, the Sun and the center of the Milky Way, Hunab Ku, will line up into that Tree of Life design and we will be passing through that gateway, and as we pass through the portal, our consciousness is upgraded, evolved, created anew again. Also, what no longer works is destroyed.

Now, let’s look at this in light of the most recent Earth changes in Japan. An earthquake occurred, and a tsunami followed on its tail. These are two natural events that will occur from time to time on the earth. A lot of people speak about Haarp, quite honestly I do not put much thought into that, as this intensification on the Earth is part of the needed shifting and moving which will get us ready for that upcoming MilkyWay alignment. In fact, there’s much more natural movements to come. What is most unnatural is the nuclear situation that came on the heels of this event. That is catastrophically disastrous and with that said, I even believe this is a miracle. The Galactics have said so many times, they cannot come, they cannot land, they cannot fully disclose until we lay down our nuclear armament. Will Japan lead us to that reality? Will we actually learn our lessons? Germany had 60,000 people form a human line and shield in front of one of their nuclear plants in protest, proclaiming, NO More Use of Nuclear Energy!  Enough is Enough!” Honestly, enough is enough. Aren’t we tired beyond belief of defending ourselves against ourselves? Have we not yet understood that this defense may lead to our own extinction?

When my husband moved to the island of Caye Caulker in 1987, he planted a Ceiba Tree, understanding its significance in the region, his intention was to protect our property. This Ceiba, the only one on the island, grew and flourished! In the year 2000, Hurricane Keith swept through our island, causing much damage including taking down our beloved Ceiba. A devastating category 4 hurricane that left its mark on the people of Caye Caulker with 80% of everyone’s house roofs’ missing, coconuts and other island trees and foliage uprooted, electrical poles knocked over and water supplies contaminated: the Red Cross declared a state of an emergency and requested all women and children be evacuated from the island until a clean-up had been commenced in full. That meant my three children and myself, all under the age of 5, had to relocate to the States, leaving my husband behind in the wake of this terrible mess to clean-up with all the other men.

Eventually, weeks later, after a large-scale restoration and clean-up project on the island, the children and I made it back to our much longed for and sweet home . As we entered our garden path, no longer lush in foliage, the first thing I noticed was our Ceiba tree lying supine on the ground. My husband hurriedly pointed out to me that the Ceiba had actually sprouted roots while lying on the ground, showing that it was indeed not dead. He knew I would interprete a dead Ceiba as an ominous sign of needing to leave the island. He told me he planned to jack the tree back up into standing position.

Sure enough, a few days later, he and a crew of ten men, including a disgruntled neighbor, who bears no goodwill for my family, gathered together to upright the Ceiba. Needless to say, their attempts failed miserably and the neighbor, who had the bright idea, to cut the top out of the Ceiba in order to lessen its weight, was almost seriously injured that day by the tree nearly falling on him.

Weeks later, my husbands good friend came by with an idea on how to help the tree. Together the two of them went at it. Two good souls with pure energy for the land. Together they braced the tree back into upright position. Our gorgeous Grandfather Ceiba flourished again and it sprouted a looper which went onto to be Caye Caulker’s second Ceiba Tree.

Figuratively, literally, or symbolically, 7 billion of us now all stand underneath the shade of the majestic Ceiba Tree. Billions of zombie-like souls exisitng here are at a total loss as to who they are, where they are and what is going on around them. Countless more are heavily sleeping under the tree awaiting a sudden wake-up jolt. A handful of disconnected and disembodied reptiles, disguised as humans, are working hard at taking down this tree for the immense natural resources that lie beneath it. A large army of followers stand at their beck and call ready to dispense their orders. And a handful of chosen benevolent beings are honoring and holding the World Tree in all its light, love and glory. Our efforts have been enormous and our numbers grow rapidly each day as our actions ripple out awakening all the innocent sleepers.

Hold hands now with the next available awake person and let us sing a spiritual song of healing to the Galaxy, “Kumbaya, Hunab, Kumbaya. Kumbaya, Hunab, Kumbaya. Someone’s crying, Hunab, someone’s crying. Come by here, My Lord, Come by here!” Someone’s laughing, Hunab, someone’s laughing. Kumbaya, Hunab, Kumbaya”.

At breathtaking speed, we are racing towards that Galactic Alignment that will offer everyone a place on the Sacred Tree of Life. Say farewell to those going to the Underworld and rejoice in their moment to tranform their lives to the light. Say hello to those kindred souls on middle Earth who are here to heal the damages left over from extremely Dark Ages. And celebrate those incredible beings who will ascend to the heavens to live with the Masters as their work is complete: José Argüelles (January 24, 1939 – March 23, 2011), brought us Earth Day, the Harmonic Convergence, widespread knowldege of the Mayan Calendar especially the date Dec. 21, 2012 and is considered to be the reincarnation of Pacal Votan, Mayan Prophet whos tomb was most recently sealed in Palnque, Mexico. His parting words via his partner, “The message that he wanted me to convey to kin is that everything is now the responsibility of the people who have heard the message. There is much work to be done. He said to tell all kin: “EVERYTHING IS PERFECT!!! Love everyone. Hate no one. God bless everyone.” He will now be assisting the closing of the cycle from the other side of the veil. “Perfect was my time of coming. Perfect was my mission. Perfect was the time of my going. Perfect is the discovery of my prophecy .” Telektonon 11.67 I extend all of my love to everyone in this most heartbreaking (but miraculous) time.”

I stand at my Ceiba this day and I bow down, I am humbled but I stand unafraid as I joyously await our alignment!

Navajo

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Obama on Military Attack: “President Does NOT Have Power Under the Constitution”

In December of 2007, while then Senator Obama was running for the Office of the President, Boston.com sat down with the candidate for a Q & A session.

The question from interviewer Charlie Savage asked Mr. Obama about Presidential authority to initiate a military attack under the Constitution:

In what circumstances, if any, would the president have constitutional authority to bomb Iran without seeking a use-of-force authorization from Congress? (Specifically, what about the strategic bombing of suspected nuclear sites — a situation that does not involve stopping an IMMINENT threat?)

Mr. Obama, at one time a professor of constitutional law at the University of Chicago, responded with a clear and concise view on the matter:

The President does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation.

As Commander-in-Chief, the President does have a duty to protect and defend the United States. In instances of self-defense, the President would be within his constitutional authority to act before advising Congress or seeking its consent. History has shown us time and again, however, that military action is most successful when it is authorized and supported by the Legislative branch. It is always preferable to have the informed consent of Congress prior to any military action.

As for the specific question about bombing suspected nuclear sites, I recently introduced S.J. Res. 23, which states in part that “any offensive military action taken by the United States against Iran must be explicitly authorized by Congress.”

While President Obama and his counterpart in the UK, Prime Minister David Cameron, believe that the military action in Libya has been authorized, and is legitimate and legal, it is only legal with respect to United Nations’ bylaws and treaties.

The United States, however, requires the approval of Congress to engage in war, as stated by Mr. Obama in December of 2007. While the actions of Libya’s long-time leadership may be perceived abhorrent and morally unjust, it does not justify US involvement – especially unilateral decision making, with respect to US law, on the part of the President.

The United States was not in danger because of Libya’s actions against its people. There was no imminent threat.

Regardless of what the United Nations has or has not authorized, the People of the United States, by law, require Congressional approval for such an action.

This is a prime example of why our Founders were adamant about the system of checks and balances.

Reference Sources: Activist Post, What Really Happened, Boston.com

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UPDATE: New Maps; Radiation in Perspective; Tokyo Faces Fallout; US Under Threat; Live Gieger Counter; Financial Panic

UPDATE: March 15, 2011 11:45 CST

…Japanese stock market down 2000 points in less than a week.

…World financial markets in panic – commodities, stocks, precious metals all down significantly in single day trading

…situation in Japan is escalating

…Over half a million evacuated. Prime Minister of Japan urges residents within 19 miles of reactors to flee or bug in

…Princeton Physicist: “It’s way past Three Mile Island already.”

…Tokyo radiation levels rising (200 miles from reactor site)… Live Geiger Counter

…Radiation levels around Japanese cities in real time (Link) *Note, due to an extremely large volume of traffic, this web site may not be accessible.*

…Secondary source: Latest real-time radiation level screen capture (source):

…While earlier posted fallout map showed innaccurate “RAD” level count, wind patterns remain intact… Radiation set to cross Pacific

…Nuclear Regulatory Commission spokesman David McIntyre: “Right now it’s quite possible that there could be some radiation floating over the United States“

…Radiation threatens California agricultural region (Map)

…Perspective on Radiation Levels:

Here’s a chart showing the range of radiation levels in milli sieverts (mSv). Currently up to 400mSv per hour are being recorded in the immediate vicinity of Fukushima. Remember, although these figures may suggest that the level of radiation being recorded at Fukushima is not extremely high, the danger is constant exposure over a period of time. For this reason, people within the 20km evacuation zone are at high risk of serious harm.

7,000-10,000mSv – Person dies from radiation poisoning. (Full body exposure).
1,000mSv – Nausea and vomiting (Full body exposure).
500mSv – Decrease of lymphocytes in peripheral blood (white blood cells that defend your body) (Full body exposure).
200mSv – No clinical conditions confirmed below this number
10mSv – 1 year’s worth of natural radiation (Brazil)
6.9mSv – CT scan
2.4mSv – 1 year’s worth of natural radiation (world average)
1mSv – Limit of one’s year’s exposure to non-natural radiation (excluding medical examinations)
0.6mSv – Stomach X-ray
0.2mSv – A return air trip from Tokyo to New York
0.05mSv – Chest X-ray (or the level of radiation expected around a nuclear power plant – in practice it is much lower than this)

…more updates to come as information becomes available

UPDATE: March 12, 2011 15:30 CST

…Japanese officials say nuclear disaster averted; but new reactor is now in danger

…Millions currently without power, gas

…Report from Mito, Japan:

In Mito, another town in the area, long lines formed outside a damaged supermarket as hundreds waited for medicine, water and other supplies. Supplies ran low as people stocked up, not knowing how long it would take for fresh goods to arrive.

“All the shops are closed, this is one of the few still open. So I came to buy and stock up on diapers, drinking water and food,” Kunio Iwatsuki, 68, told Reuters.

…Tour of grocery store in earthquake/Tsunami stricken area – Shelves just about empty:

…Grocery store in Tokyo – supplies of basic goods, non-perishables dwindling:

UPDATE: March 12, 2011 12:06 CST

…Status of nuclear plant is unconfirmed… Reports vary… some suggest plant has melted down… others suggest plant is intact

…Tens of thousands missing in Japan

…Thousands being evacuated in potential nuke fallout zone… 12 mile radius

…Explosion in building housing reactors (video)

…Chernobyl-like meltdown possible (video)

…Fuel rods may have melted

…West coast residents on alert in the event of a nuclear meltdown

…Wind may carry radiation across Pacific to West coast of North America…. 180 Hour Wind Forecast Model

…Unofficial fallout map (Note that this map has not yet been legitimately sourced, thus the estimated “Rad” levels are as of yet unconfirmed, though the wind patterns match those of the 180 hour forecast above):

***This Nuclear Fallout Map below has been identified as a hoax. As mentioned in our original posting, the source was not confirmed. We chose to publish this map to demonstrate the fallout pattern in the event high levels of radiation were released in Japan. ****

…As of yet, the estimates for radiation release levels in the event of meltdown as measured in Rads/Greys is unknown, therefore Rem/Microrem biologically effective doses cannot be measured accurately…

…radiation level outside the reactor became elevated to 1,015 microsievert—the equivalent of being exposed to the maximum allowable level for a full year in a single day. The level has since come down sharply.

…Survival / Alternative News forums go ballistic

…General Radiation Absorption ESTIMATES (source):

0-50 rads – No obvious short-term effects
80-120 rads – You have a 10% chance of vomiting and experiencing nausia for a few days
130 -170 rads – You have a 25% chance of vomiting and contracting other symptoms
180-220 rads – You have a 50% chance of vomiting and having other severe physical effects
270-330 rads – 20% chance of death in 6 weeks, or you will recover in a few months.
400-500 rads – 50% chance of death
550-750 rads – Nausia within a few hours ; no survivors
Greater than 1000 rads – immediate incapacitation and death within a week or less.

…Japanese emergency officials are planning to distribute iodine to those in nuclear radiation zones:

Japanese authorities are making plans to distribute stable iodine, a treatment to prevent radiation poisoning, to residents near two damaged nuclear plants, the International Atomic Energy Agency says.

…FDA has historically recommended Potassium Iodide (KI) within 3 – 4 hours of radiation exposure

…Retail provider of KI

…Related SHTFplan articles:

The Effects of Nuclear Weapons

Survive Anything: Nuclear Attack

UPDATE: March 11, 2011 19:45 CST

…88,000 Reported Missing, Hundreds dead

UPDATE: March 11, 2011 17:00 CST

…California: 1 Confirmed Dead, 2 Swept out to sea as they watched incoming Tsunami

…Oregon: 4 Swept out to sea, rescued by Coast Guard

UPDATE: March 11, 2011 16:30 CST

…Reports that Fukushima nuclear reactor is at 2.1 times normal pressure

…Radiation reportedly at 1000 times normal and rising; no evacuations of plant or surrounding areas as of yet.

The following just released video from PBS Newshour documents just how powerful the Japanese Tsunami was. It completely demolishes an entire village in under a minute:

The Sakurajima Volcano on Southern Tip of Japan has begun erupting:

ORIGINAL STORY POSTED March 11, 2011 09:00 CST:

…An estimated 8.9 magnitude earthquake off the east coast of Japan sent Tsunamis across the Pacific, striking Japan with waves reportedly as high as 33 feet.

…Other Southeast nations have also been struck.

…Hawaii was inundated with a Tsunami earlier this morning.

…Oregon closes schools…California on alert…expect waves potentially as high as 5 feet around 11am EST

…Canada on alert

Videos from Japan

Massive Tsunami wave races inland…tons of debris…burning fires atop waves…boats, cars, buildings uprooted:

Tsunami overwhelms Japan port city:

Tsunami causes whirpool:

Japan Tsunami: Cars, Debris thrown around by water like children’s toys:

Tsunami Reaches Hawaii:

Wave’s reportedly not unusually high. Officials warn waves may get as high as 6 feet:

The scene at a local grocery store in Hawaii as residents anticipate the Tsunami:

Tsunami in Open Sea – Headed towards other south east Asian countries…Almost all of Pacific Basin on alert:

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Global warming down under: 10 little facts

by Professor Bob Carter

Control the language, and you control the outcome of any debate

Ten dishonest slogans about global warming, and ten little facts.

Each of the following ten numbered statements reproduces verbatim, or almost verbatim, statements made recently by Australian government leaders, and repeated by their media and other supporters. The persons making these arguments might be termed (kindly) climate-concerned citizens or (less kindly, but accurately) as global warming alarmists.

Despairing of ever hearing sense from such people, some of whom have already attributed the cause of the devastating Japanese earthquake to global warming, a writer from the well regarded American Thinker has badged them as “idiot global warming fanatics”.

Be that as it may, most of the statements below, self-evidently, were crafted as slogans, and all conform with the obnoxious and dishonest practice of political spin – in which, of course, the citizens of Australia have been awash for many years. The statements also depend heavily upon corrupt wordsmithing with propaganda intent, a technique that international Green lobbyists are both brilliant at and relentless in practising.

The ten statements below comprise the main arguments that are made in public in justification for the government’s intended new tax on carbon dioxide. Individually and severally these arguments are without merit. That they are intellectually pathetic too is apparent from my brief commentary on each.

It is a blight on Australian society that an incumbent government, and the great majority of media reporters and commentators, continue to propagate these scientific and social inanities.

1. We must address carbon (sic) pollution (sic) by introducing a carbon (sic) tax.

The argument is not about carbon or a carbon tax, but rather about carbon dioxide emissions and a carbon dioxide tax, to be levied on the fuel and energy sources that power the Australian economy.

Carbon dioxide is a natural and vital trace gas in Earth’s atmosphere, an environmental benefit without which our planetary ecosystems could not survive. Increasing carbon dioxide makes many plants grow faster and better, and helps to green the planet.

To call atmospheric carbon dioxide a pollutant is an abuse of language, logic and science.

2. We need to link much more closely with the climate emergency.

There is no “climate emergency”; the term is a deliberate lie. Global average temperature at the end of the 20th century fell well within the bounds of natural climate variation, and was in no way unusually warm, or cold, in geological terms.

Earth’s temperature is currently cooling slightly.

3. Putting a price on carbon (sic) will punish the big polluters (sic).

A price on carbon dioxide will impose a deliberate financial penalty on all energy users, but especially energy-intensive industries. These imaginary “big polluters” are part of the bedrock of the Australian economy. Any cost impost on them will be passed straight down to consumers.

It is consumers of all products who will ultimately pay, not the industrialists or their shareholders.

4. Putting a price on carbon (sic) is the right thing to do; it’s in our nation’s interest.

The greatest competitive advantage of the Australian economy is cheap energy generated by coal-fired power stations.

To levy an unnecessary tax on this energy source is economic vandalism that will destroy jobs and reduce living standards for all Australians.

5. Putting a price on carbon (sic) will result in lower carbon dioxide emissions.

Economists know well that an increase in price of some essential things causes little reduction in usage. This is true for both energy (power) and petrol, two commodities that will be particularly hit by a tax on carbon dioxide emissions.

Norway has had an effective tax on carbon dioxide since the early 1990s, and the result has been a 15% INCREASE in emissions.

At any reasonable level ($20-50/t), a carbon dioxide tax will result in no reduction in emissions.

6. We must catch up with the rest of the world, who are already taxing carbon dioxide emissions.

They are not. All hope of a global agreement on emissions reduction has collapsed with the failure of the Copenhagen and Cancun climate meetings. The world’s largest emitters (USA and China) have made it crystal clear that they will not introduce carbon dioxide tax or emissions trading.

The Chicago Climate Exchange has collapsed, chaos and deep corruption currently manifests the European exchange and some US states are withdrawing from anti-carbon dioxide schemes.

Playing “follow the leader” is not a good idea when the main leader (the EU) has a sclerotic economy characterised by lack of employment and the flight of manufacturers overseas.

7. Australia should show leadership, by setting an example that other countries will follow.

Self-delusion doesn’t come any stronger than this.

For Australia to introduce a carbon dioxide tax ahead of the large emitting nations is to render our whole economy to competitive and economic disadvantage for no gain whatsoever.

8. We must act, and the earlier we act on climate change the less painful it will be.

The issue at hand is global warming, not the catch-all, deliberately ambiguous term climate change.

Trying to prevent hypothetical “dangerous” warming by taxing carbon dioxide emissions will be ineffectual, and is all pain for no gain.

9. The cost of action on carbon (sic) pollution (sic) is less than the cost of inaction.

This statement is fraudulent. Implementing a carbon dioxide tax will carry large costs for workers and consumers, but bring no measurable cooling (or other change) for future climate.

For Australia, the total cost for a family of four of implanting a carbon dioxide tax will exceed $2,500/yr* – whereas even eliminating all of Australia’s emissions might prevent planetary warming of 0.01 deg. C by 2100.

10. There is no do-nothing option in tackling climate change.

Indeed.

However, it is also the case that there is no demonstrated problem of “dangerous” global warming. Instead, Australia continues to face many self-evident problems of natural climate change and hazardous natural climate events. A national climate policy is clearly needed to address these issues.

The appropriate, cost-effective policy to deal with Victorian bushfires, Queensland floods, droughts, northern Australian cyclones and long-term cooling or warming trends is the same.

It is to prepare carefully for, and efficaciously deal with and adapt to, all such events and trends whether natural or human-caused, as and when they happen. Spending billions of dollars on expensive and ineffectual carbon dioxide taxes serves only to reduce wealth and our capacity to address these only too real world problems.

Preparation for, and adaptation to, all climate hazard is the key to formulation of a sound national climate policy.

Professor Bob Carter is a geologist, environmental scientist and Emeritus Fellow at the Institute of Public Affairs.

Notes:

*Assuming a tax rate of $25/tonne of CO2, and Australia’s emissions being 550 million tonnes, indicates a total cost of $13.8 billion. Spread across a population of 22 million persons, that equates with $627/person/year.

This essay originally appeared in Quadrant online and was reposted here at the invitation of Dr. Carter

For more information:

Australian Climate Science Coalition
The Carbon Sense Coalition
Institute of Public Affairs
Non-governmental International Panel on Climate Change (NIPCC)
joannenova.com.au

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10/03/2011: Egypt’s Christian protestors under violent attack….Media Silence Again!! 13 DEAD 140 WOUNDED…

IT APPEARS THAT NEWS IS ONLY NEWS WHEN ARABS ARE INVOLVED AND OF COURSE OIL!!
10 march 2011

Egypt’s Christian protestors under violent attack
A Muslim mob has turned on Christian demonstrators who were protesting in Cairo against the burning down of a church by Islamists. The ensuing violent clashes left 13 dead and 140 wounded.
Thousands of Christians took to the streets of the capital this week after the destruction of a church in the village of Soul, 30km from Cairo, on Saturday evening. A Muslim mob attacked the Christian demonstrators, resulting in deadly clashes.
The violence broke out around Mokattam garbage village, where Barnabas Fund has been helping the Christian residents with various projects over several years. A number of homes in the vicinity were looted and torched by the mob during the violence.
A senior church leader from Cairo said:
Large groups of Muslim youths from surrounding areas began to form and attack the Christians. Within hours there were many thousands in the fight, and the attackers had all kinds of weapons, whereas the village youth mostly had stones. Although the army sent in several tanks, they apparently did nothing until later in the evening, when they are reported by eye witnesses to have shot in the air indiscriminately. It is quite obvious that this was a well-organized and deliberate attack on Christians.
The incident that sparked the Christian protest involved a mob of nearly 4,000 Muslims, who attacked Christian homes and destroyed the church in Soul by exploding gas cylinders inside. In an act of “collective retribution”, the Muslims were seeking revenge against all the Christians in the village because of a personal dispute involving one Christian and a Muslim family.
Severe anti-Christian violence has also broken out elsewhere in the region. Mobs of Muslim extremists have been rampaging through western Ethiopia this week, setting dozens of churches and Christian homes ablaze after accusing a Christian of desecrating a copy of the Quran.
Egyptian authorities target Christians
Since the overthrow of President Mubarak, Christians have come under a series of attacks by Islamists and the authorities. On 22 February, church leader Dawoud Botrous was found stabbed to death at his home near Assiut, Upper Egypt.
That same week, Egyptian armed forces stormed ancient Christian centres, firing live ammunition at the Christians, wounding some, and demolishing fences they had erected to protect themselves during the revolutionary protests.
And Christians in Minya are seemingly being targeted by the province’s governor, who has ordered the demolition of a church-run welfare centre for disabled children and young people. Last Monday (28 February) more than 10,000 Christians protested against the governor, who on the same day had ten newly-built houses belonging to three Christian families demolished.
Dr Patrick Sookhdeo, International Director of Barnabas Fund, said:
Christians in Egypt are reeling from this barrage of assaults that are coming from all angles. It is becoming increasingly apparent that the Egyptian revolution has made the country’s Christians even more vulnerable to attack – not just by unrestrained Islamists but also by the authorities. They need our prayers and practical help today.
Please Pray
That Egypt’s depleted security forces, which are struggling to maintain order, will be able to establish peace between the country’s Muslim and Christian communities.
That Christians who have come under attack in recent weeks will know the Lord’s comfort and peace.
For the future of the Christian community in Egypt; pray that Islamists will not gain a political foothold in the country and so make the conditions for Christians even more unbearable.

Give Today
If you would like to help Christians in Egypt and Ethiopia affected by by these attacks please send your donation to project 00-345 (Victims of Violence). Please click to donate online using our secure server.
If you prefer to telephone, dial: 0800 587 4006 from within the UK or +44 1672 565031 from outside the UK. Please quote project reference 00-345 (Victims of Violence).
If you prefer to send a cheque by post: Click this link for the address of our regional office. Please quote project reference 00-345 (Victims of Violence).
For a quick donation of £3.00 by SMS (see terms and conditions here) text Barnabas/345 to 70007 (Please note: This facility is presently only available to UK supporters).

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CHRISTIANS IT SEEMS ARE NO CONCERN OF  THE GOVERNMENT OR THE STINKING CHURCH!!

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