Monday, February 21, 2011
Another Climate Con Bust
As a follow-up to yesterday’s blog on Climate Con, the SEC arrested the top echelon of CO2 Tech which is affiliated with another organization of carbon credit trader frauds titled Red Sea Management LTD out of Costa Rica Busted. The scam, called ‘Pump and Dump’, consists of fake connections with legitimate businesses used by these carbon marketeers to inflate prices of their imaginary product stock before dumping them at huge profits. In this case they ripped off seven million dollars of investors’ money. It’s difficult for me to drum up sympathy for these brainwashed Global Warming sheep getting sheared in the carbon market where they purport to save the planet by trading imaginary goods. What’s a mystery to me is how the authorities cherry pick criminals from this humongous total fraud. Please folks, don’t invest in anything that trades in empty air. If a company doesn’t make a product that you can handle and see or provide servicing of products you can handle and see, they’re making hype not product. These bandits in Climate Con are dangerous to your economic wellbeing. There’s a reason the Goreacle’s Chicago Climate Exchange crashed and burned. They traded stock in air, not product.