IS A CARBON CURRENCY THE ENDGAME?-PART 1
By Michael S. Coffman, Ph.D. and Kristie Pelletier
September 10, 2011
Carbon currency is a global monetary system that would not be based on money as we have historically known it, but on carbon credits. It is nothing less than a revolutionary new economic system based on energy consumption and production rather than price.
Analysts are warning that it is highly probable that Europe’s economy will collapse within the next three years, if not sooner. When Europe goes down it is highly likely the U.S. economy will soon follow with potentially devastating effects. At same time, the EPA is instituting thousands of pages of new regulations that cap CO2 emissions, without a single new law passed by Congress. It is all coming down through Executive Branch Fiat. Every analysis of these new regulations show they will have a huge negative impact on our economy right when we can least afford it. It is estimated that the GDP (Gross Domestic Product) will be $9.4 trillion from 2012 to 2035, eventually reaching $700 billion annually. Finally, there is growing suspicion that national currencies will be made worthless through default, hyperinflation, or both. Will a carbon currency replace them?
The current worldwide crisis in the free market system may be the impetus for the full implementation of the new Carbon based global monetary system. Our current price-based economic system and its related currencies that have supported capitalism, socialism, fascism and communism, seems to be herded to the slaughterhouse. Greece, Ireland, Italy, Portugal, Spain and other European nation’s economies are falling like dominoes.
The United States is also in real trouble, with our credit rating downgraded by Standard & Poors. Contrary to what the media is saying, it is not because Congress did not raise the debt limit fast enough; rather it is because U.S. spending is out of control with no end in sight. The Dow Jones Industrial lost a staggering 14 percent immediately after the S&P downgrade was announced and President Obama tried to assure the nation that everything was fine. It is not fine and the market finally realizes it. The crisis is gargantuan and it is worldwide.