Tuesday, January 05, 2010
Climate vs Weather
Delingpole asks what's the difference between Climate and Weather? His answer is deliciously vulgar, in a British style that we American puritans have never quite mastered.
Polistra has a broader answer:
Climate is securitized weather.
How does securitizing work with mortgages? The actual brokers sell mortgages to big investment banks, who mix thousands of mortgages together into a bond, and apply special statistical methods to make the bond appear safer than it really is. Then the big banks conspire with rating agencies to give the bond a Triple-A rating. Then the big banks sell pieces of the bond to unwitting suckers.
And how does securitizing work with weather? The actual measuring stations feed their weather measurements to big data banks, who mix thousands of readings together into a climate, and apply special statistical methods to make the climate appear warmer than it really is. Then the big data banks conspire with the academic journals to give the climate a Peer-Reviewed rating. Then the big data banks sell pieces of the climate to governments in return for ever-increasing grant money.
And at the junction of the two, we have the Carbon Credit fraud, which is financial securitization based on the fraudulent numbers of the climate securitization. Criminal derivatives based on criminal derivatives, just what the Wall Street Mafia loves. ¶ 8:46 AM
Polistra has a broader answer:
Climate is securitized weather.
How does securitizing work with mortgages? The actual brokers sell mortgages to big investment banks, who mix thousands of mortgages together into a bond, and apply special statistical methods to make the bond appear safer than it really is. Then the big banks conspire with rating agencies to give the bond a Triple-A rating. Then the big banks sell pieces of the bond to unwitting suckers.
And how does securitizing work with weather? The actual measuring stations feed their weather measurements to big data banks, who mix thousands of readings together into a climate, and apply special statistical methods to make the climate appear warmer than it really is. Then the big data banks conspire with the academic journals to give the climate a Peer-Reviewed rating. Then the big data banks sell pieces of the climate to governments in return for ever-increasing grant money.
And at the junction of the two, we have the Carbon Credit fraud, which is financial securitization based on the fraudulent numbers of the climate securitization. Criminal derivatives based on criminal derivatives, just what the Wall Street Mafia loves. ¶ 8:46 AM
