UN Funds Missing Billion Plus in Climate Change Donations

The Telegraph reported a few days ago that UN Funds were missing over a billion dollars contributed to tackle climate change in developing countries:

“A total of 20 nations pledged up to 410 million dollars (£247m) a year in 2001, resulting in a pot that should be worth well over 1.6 billion dollars (£963m).
But only 260m dollars (£157m) has been paid into two United Nations funds earmarked for the purpose according to the latest figures, the BBC World Service investigation said.
The EU told the broadcaster that the money was collected in ”bilateral and multilateral deals”, but was unable to provide data to back up the claim.
The sums were pledged in the 2001 Bonn Declaration, which was signed by the 15 countries that then made up the European Union, plus Canada, Iceland, New Zealand, Norway and Switzerland.

As of the end of September this year, the two UN funds – called the Least Developed Countries and Climate Change Funds – contained 155.4m dollars and 104.1m dollars respectively, the BBC said.
Boni Biagini, who runs the funds, told the broadcaster: ”These numbers don’t match the 410m per year. Otherwise, we’d be handling billions of dollars by now.”

More Fall Out From Dubai On Indian Market

Business Standard:

“Segments of the economy such as consumer durable and core industrial growth that are driving the current recovery in the Indian economy are purely a function of domestic stimulus initiatives and remain to that extent relatively insulated,” HDFC Bank said in a report today.

However, areas such as exports, remittance, banking and construction as well as real estate are likely to see further damage, the report added.

Exports are going to be the most affected by Dubai woes, as the UAE region is now India’s largest export destination toppling the United States.

Besides, bullion trading in Dubai is likely to be impacted, which may have ripple effect for India as around $29 billion of gold from the country is being traded in Dubai.”

Marginal Redefinitions…

Tyler Cowen seems to be getting a tad confused in his moral reasoning, as he tries to shove the poop back up the fear-mongerers  who fatally compromised science, genuine environmentalism, and genuine conservation:

“Good vs. evil thinking causes us to lower our value of a person’s opinion, or dismiss it altogether, if we find out that person has behaved badly.  We no longer wish to affiliate with those people and furthermore we feel epistemically justified in dismissing them.

Sometimes this tendency will lead us to intellectual mistakes.

Take Climategate.  One response is: 1. “These people behaved dishonorably.  I will lower my trust in their opinions.”
Another response, not entirely out of the ballpark, is: 2. “These people behaved dishonorably.  They must have thought this issue was really important, worth risking their scientific reputations for.  I will revise upward my estimate of the seriousness of the problem.”
I am not saying that #2 is correct, I am only saying that #2 deserves more than p = 0.  Yet I have not seen anyone raise the possibility of #2.  It very much goes against the grain of good vs. evil thinking:  Who thinks in terms of: “They are evil, therefore they are more likely to be right.”

My Comment

This is so idiotic confused

(in the spirit of Humble Libertarian´s post, I want to start ratcheting down any stridency on my own part, before expecting others to)

I can´t believe I´m reading it.

I don´t believe the very intelligent Professor Cowen wrote it.

Let´s see. Point by point.

1. Hitler did several rather evil things…would Cowen be happy if we tried to take another look at Hitler, because, gee, we´re all counterintuitive an’ all..

Of course, see what happens when anyone dares to make the morally far saner argument that although Hitler did many evil things, he might have been right about some other things…say, like vegetarianism. The howls of neo-Nazism would drive him from respectable (and unrespectable) society forever.

But it´s quite OK for a liberal to argue from the morally insane position that because Hitler did many evil things, he was therefore right.

I can only imagine what would have happened if someone from the south had ever said that….or someone from the third world….or any other benighted place where our superiors haven´t already planted the flag of moral imperialism (I coined that one just now)….

It never occurs to the supercilious center-liberals (I´m not sure the positions taken by Cowen or Powell are really libertarian) that their lectures admonitions are best directed at themselves.

2. Cowen calls Austrian theory a religion, when it´s not even a theory. It´s a set of principles that can be applied quite broadly to arrive at very different conclusions, even conclusions diametrically opposed to many positions that Austrians actually hold.

3. He uses the phrase ¨good versus evil thinking” — which seems to be a reference to Glenn Greenwald´s book on Bush and how good versus evil thinking got his administration into trouble. As a matter of fact, I made that analysis of Bush´s reasoning in my first book (“The Language of Empire”) as well as in an article, “The Pharisee´s Fire Sermon” (Dissident Voice), …and I can assure you that “good versus evil” thinking permeates every aspect of American thought…from Christian fundamentalism to liberalism universalism. Lew Rockwell has the least of it.

And one of the underlying reasons for why this kind of polarised thinking is pervasive is a very simple one.

Citizens in an imperial state can get away with it.

In no other corner of the world is there a state with so much space in its back yard, so many armaments to back up its lightest word and so much clout to twist every arm that can be twisted to get reality to bend to its own solipsistic vision of how things should be.

Mr. Cowen has mistaken an imperial problem pervasive in the US for a local ideological problem.
Only one of a number of errrors.

Here´s more of Cowen´s cogitations via EconomicPolicyJournal.com:

“Cowen began his comments, and almost immediately differentiated between what he called “Ron Paul-Lew Rockwell libertarianism” and “realistic” libertarianism. He said that like Palmer, he fell into the “realistic” camp.

During the Q&A, I asked Cowen to amplify on the differences between what he deemed “Ron Paul-Lew Rockwell libertarianism” and “realistic” libertarianism. He pointed to a view on immigration and “too much” conspiracy theory that he claimed the “Ron Paul-Lew Rockwell libertarians” held. He said they were moving toward the extreme right wing Republican camp. He contrasted this with what he called realistic-secular libertarianism. He said he expected that a full split between the two camps will occur.”

Outside the right-wing Islamophobe militarati, the place where you´ll see the most “good-versus-evil” thinking is not Lew Rockwell (where you can find even liberal-left thinkers like Glenn Greenwald and Naomi Wolf). It´s the liberal-left center.

And that split that´s coming up between LRC and secular libertarianism?

Baloney.

Lew Rockwell has plenty of atheist and secular libertarians. I happen to be a secularist and a Christian agnostic. Both the Christianity and the agnoticism are important to me. Equally. If Cowen can´t get his head around a position like that and lumps it in together with some loony farfetched idea he has about “Austrian religion” that really is his problem, not LRC´s.

Actually, the only split that´s coming up is the split of libertarian progressives and sensible environmentalists…from the left…and into the Ron Paul camp..which is also, much more prosaically, the just-the-facts, ma´am camp.

Cowen:

He then told me I could google, Austrian theory and financial crisis, and half the results would be “religious Austrians.”

Nice try at scare-mongering.

This is simply scare-mongering.

The real ayatollahs of thought are Olympian liberal-leftists who believe that anyone who argues against any of their most precious sacred cows — subsidized illegal immigration, thought police, the immaculate purity of the government on 9-11, the imminent end of planet earth on account of Republicans, and a host of other dim-bulb positions — must automatically be a wicked, greedy racist.

Economist, audit thine own intellectual books before trashing anyone else´s.

And for more juicy tomatoes flung at the good professor by fellow libs, read this .

Madoff -Related Accounting Firm Does Dubai´s Accounts..

From the Independent:

“Dubai World will start a formal process next week that will see it invite leading banks, including HSBC, Royal Bank of Scotland (RBS), Lloyd’s Banking Group and Standard Chartered, to create a steering committee to represent the many lenders. KPMG has been lined up by the lead banks to represent them in negotiations, with a formal appointment expected once the compilation of the five-to-six bank steering committee is finalised.

My Comment:

Now, KPMG is the big four accounting firm that gave Madoff´s representations to Tremont Group Holdings (a US fund that Madoff purportedly hoodwinked) a thumbs up.  The Tomchin Family Charitable Trust, one of numbers of investors who were allegedly scammed by Madoff,  has launched a lawsuit against KPMG and Tremont for negligence in monitoring one of Tremont´s funds that invested with Madoff.

The lawsuit included a list of other Madoff clients that included Victoria de Rothschild of the banking family of the Rothschilds and a Tory party contributor:

“Also on the list of Mr Madoff’s British clients is Lady Victoria de Rothschild, who is related to Nathaniel Rothschild, the co- chairman of Atticus Capital, the hedge fund.

Lady Victoria is a well-known figure on the society circuit and became known more recently as a lender to the Tory party, having set up a special company that gave the party a £1,014,000 loan that is due to be repaid in 2010.”

(Times Online, February 5, 2009)

KPMG has also been hit with a $1b lawsuit for “reckless and negligent” auditing of failed subprime broker, New Century Financial, reportedly the first major case against an auditor arising from the financial crisis.

My Comment

So we have a Madoff-tainted accounting firm KPMG, with multiple legal problems, representing the banks that loaned to Dubai on one side, and  (as I noted before) French banking legend Rothschild on the other side, heading up the restructuring efforts for Dubai….

Wiki has a list of KPMG´s legal infractions that includes this:

“In February 2007 KPMG Germany was investigated for ignoring questionable payments in the Siemens bribery case.[29] (Siemens agreed to pay a record $1.34 billion in fines to settle the case in December, 2008.) In November 2008 the Siemens Supervisory Board recommended changing auditors from KPMG to Ernst & Young.[30]

In 2006, Fannie Mae sued KPMG for malpractice for approving years of erroneous financial statements.[31]

In March 2008 KPMG was accused of enabling “improper and imprudent practices” at New Century Financial, a failed mortgage company[32] and KPMG agreed to pay $80 million to settle suits from Xerox shareholders over manipulated earnings reports.”

Some confidence-builder… a bank that´s been closely connected to the Madoff scam and to the Fannie and Freddie case (and hence, to Goldman Sachs)…

And, how about this:

KPMG and Deloitte were brought in to investigate India´s ¨Madoff¨” – the fraud- riddled IT outsourcing giant Satyam (now Mahindra Satyam, its post-merger avatar – over the objections of the Institute of Chartered Accountants, India´s regulator, which said KPMG was not registered with it and would thus not be subject to its code of conduct or disciplinary proceedings.

Monbiot Suggests Jones ¨Guilty As Charged,” Should Go

Monbiot in the Guardian::

“When it comes to his handling of Freedom of Information requests, Professor Jones might struggle even to use a technical defence. If you take the wording literally, in one case he appears to be suggesting that emails subject to a request be deleted, which means that he seems to be advocating potentially criminal activity. Even if no other message had been hacked, this would be sufficient to ensure his resignation as head of the unit.

I feel desperately sorry for him: he must be walking through hell. But there is no helping it; he has to go, and the longer he leaves it, the worse it will get……….

Some people say that I am romanticising science, that it is never as open and honest as the Popperian ideal. Perhaps. But I know that opaqueness and secrecy are the enemies of science. There is a word for the apparent repeated attempts to prevent disclosure revealed in these emails: unscientific……

When the emails hit the news on Friday morning, the university appeared completely unprepared. There was no statement, no position, no one to interview. Reporters kept being fobbed off while CRU’s opponents landed blow upon blow on it. When a journalist I know finally managed to track down Phil Jones, he snapped “no comment” and put down the phone. This response is generally taken by the media to mean “guilty as charged”.

My Comment

George Monbiot seems to be the only global warming advocate with the integrity to state the obvious. What the emails reveal is reprehensible in the extreme, given the position of the scientists involved. They have to go, no matter where you stand on the issue.

And by the way, I´m no hard-core skeptic about climate change or human influence on the environment at all.  I think the “preventive principle”

(correction: I mean precautionary principle)

is a pretty good rule to go by when considering economic and other options, am a strong advocate of organic and sustainable farming, and think that many forms of development do indeed create havoc with the environment – destroying shorelines and exacerbating natural disasters, if not actually provoking them.

However, hijacking the entire world into an international regime in which scam artists like Goldman Sachs and JP Morgan, allied hedge funds, speculators, and governments play roulette with “carbon credits” has nothing to do with being a steward of the environment.

Want to help the planet?

Plant a garden. Plant trees. Use meat as a condiment not as a staple. Walk or ride a bike as often as you can. 

Don´t think of yourself solely as a consumer but also as a citizen.

And fight the militarized state.

The single biggest problem (I mean man-made problem) for the climate is war. Nuclear weapons, depleted uranium, fighter jets, weapons testing, bunker-busters – this is where the damage is done, most of all in misdirecting energy and resources into destruction, when they could as easily be directed toward productive uses.

Death Knell of the Carbon Credit Scam

Dr. Tim Ball, from Canada Free Press (via Lew Rockwell):

“Professor Wegman showed how this “community of scientists” published together and peer reviewed each other’s work. I was always suspicious about why peer review was such a big deal. Now all my suspicions are confirmed. The emails reveal how they controlled the process, including manipulating some of the major journals like Science and Nature. We know the editor of the Journal of Climate, Andrew Weaver, was one of the “community”. They organized lists of reviewers when required making sure they gave the editor only favorable names. They threatened to isolate and marginalize one editor who they believed was recalcitrant.

These people controlled the global weather data used by the IPCC through the joint Hadley and CRU and produced the HadCRUT data. They controlled the IPCC, especially crucial chapters and especially preparation of the Summary for PolicyMakers (SPM). Stephen Schneider was a prime mover there from the earliest reports to the most influential in 2001. They also had a left wing conduit to the New York Times. The emails between Andy Revkin and the community are very revealing and must place his journalistic integrity in serious jeopardy. Of course the IPCC Reports and especially the SPM Reports are the basis for Kyoto and the Copenhagen Accord, but now we know they are based on completely falsified and manipulated data and science. It is no longer a suspicion. Surely this is the death knell for the CRU, the IPCC, Kyoto and Copenhagen and the Carbon Credits shell game.

CO2 never was a problem and all the machinations and deceptions exposed by these files prove that it was the greatest deception in history, but nobody is laughing. It is a very sad day for science and especially my chosen area of climate science. As I expected now it is all exposed I find there is no pleasure in “I told you so.”


You can download the climate change fraud documents from the link below:

http://www.filedropper.com/foi2009 or http://www.megaupload.com/?d=003LKN94

(Lila: I am linking the hacked emails after all, because no private emails (correction: I meant ´personal´) are included and because I´m convinced the material was gathered for an FOIA request that was being obstructed).

Philanthropic Versus Misanthropic Libertarianism

Mad props to Humble Libertarian for coming up with this:

“Libertarian thought often starts with “me” and says to others “you shouldn’t violate my rights,” which is certainly true, but somewhat off-putting because it’s egocentric. Aside from being off-putting, it’s the moral low-ground. It’s moral and true, but it pushes the moral imperatives of libertarian thought off on someone else. The moral high-ground is to accept and practice the moral imperative for yourself. Libertarians would always do better to say, “I shouldn’t violate your rights- I won’t violate your rights.” In practice this makes a world of difference. On the issue of welfare and property redistribution, for example, the first approach would sound like this: “Who are you to take my hard-earned money and give it away to the poor? Even if I should give it to them, you have no right to confiscate my property from me.” The second approach is a sharp contrast to the first in both tone and content: “Who am I to take your hard-earned money and give it away to the poor when I’m likely not even giving enough myself? Even if you should give it to them, I have no right to force you to, especially when I’m not giving enough myself. How hypocritical of me would that be?” See how much more humble that is and sounds?

The first example is a challange. Its tone is antagonistic and its premise is egocentric. The second example is an invitation and a catalyst for conversation. Its tone is humble and its premise is philanthropic- motivated by love and concern for other human beings and their rights. The distinction here can ultimately boil down to these alternatives, egocentric libertarianism on the one hand, and philanthropic libertarianism on the other.

Dubai Government Thumbs Its Nose at Creditors

After tentatively implying that there would be a back-stop to Dubai World´s debt problems, the Dubai Government on Monday disowned any legal obligation to Dubai World and told creditors that they needed to take responsibility for their loans.

“Creditors need to take part of the responsibility for their decision to lend to the companies,” said Abdulrahman al-Saleh, director general of Dubai’s department of finance. “They think Dubai World is part of the goverment, which is not correct.”

(Reuters)

My Comment:

What´s going on here? The back and forth isn´t recent, but has been going on the whole year, with Dubai implying at one time that its debt load was taken care of, and at another, that it still had more problems; and in this instance, first seeming to back up Dubai World and then, backing-off from its backup….

The timing and vacillation seem to suggest that the government is testing the market and the reaction of investors before making its move. Not good.

And it leaves open the possibility, already raised by UBS in a recent Bloomberg piece, that the problems exceed the $80 billions of government liabilities and might extend to off-book structures that are not presently known.

Update:

After weekend assurances from Dubai that its much richer fellow-emirate Abu Dhabi, seat of the UAE federal government, would help, and that liquidity would be assured for local and international banks that needed it (through a “special additional liquidity facility”), Asian markets recovered this morning from their sell-off last week. But this morning, the local stock exchanges have been hit hard and this new announcement could provoke a second sell-off in world markets, especially in the UK FTSE, since British banks, especially Royal Bank of Scotland, have loan exposure to Dubai World.

Then, there´s also the exposure that UK banks have to other investments where Dubai World holds a stake.

And there´s the indirect exposure US banks have to Dubai through ties with UK banks.

Pollution, Not Global Warming, Is Biggest Environmental Threat

Mark Sircus. from Globalresearch, via Lew Rockwell:

“Meanwhile despite the international financial crisis pollution is still increasing as we continue to blanket the planet with mercury from coal fired electrical plants around the world. Mercury and thousands of other chemicals continue to be released in staggering tonnages and this is the real threat that we and our children face. Again they had most people worrying about the wrong thing – our old friend CO2.

Should we count the huge tonnage of Coke and Pepsi into our calculations of poisons released on earth directly into peoples’ guts?

Things are quite a bit different today than in 1918 when the last pandemic (first large experimental vaccine program) happened. Today people and our children are walking chemical time bombs. Diseases are accidents only waiting to happen and the triggers that will set us off get more fine-haired every year. The global catastrophe with chronic diseases like cancer, diabetes, heart and neurological diseases has more to do with chemical poisoning running head on into nutritional deficiencies; and the fact that too many have lost their souls and don’t know truth from untruth anymore than anything else.”