August 24, 2009
Organized Crime Involved in Carbon Credits
Somebody warn Al Gore — in Britain, carbon credit conmen have been arrested for fraud:
Seven people have been arrested and 27 addresses raided over an suspected £38m fraud involving the trade of carbon credits to avoid paying value-added tax (VAT).
Officers from HM Revenue & Customs searched both residential properties and offices in both Gravesend and London targeting an alleged network of organised crime.
Members are believed to have been trading large volumes of high-value carbon credits from overseas sources free of VAT.
Tax investigators believe these may then have been sold on to businesses in the UK charging VAT that is never paid to the authorities.
Officers said further arrests are likely, adding that the proceeds of this alleged crime have been "used to finance lavish lifestyles and the purchase of prestige vehicles".
Shockingly, these prestige vehicles may not include hybrids.
Good thing we don't have a federal VAT here — yet. But to pay off the deficits the Moonbat Messiah is running up we soon will.
On a tip from Hope Angel. Hat tip: Watts Up With That.
Posted by Van Helsing at August 24, 2009 9:24 AM
Whenever you centralize power, you create an opportunity for corruption.When every business in America has to petition the Government for its dwindling share of its daily bread, you will create a situation which makes the Saddaam-era oil for foodprogram look like a wonder of transparency and openness.
Posted by: James McEnanly at August 24, 2009 9:37 AM
Instead of "Liberal Fool" why didn't you type in "Goatse Wellstoned"?
Posted by: Doug at August 24, 2009 10:12 AM
Carbon Credits?? Gotta love it. Something with no value suddenly has value. Like printing money! When you own a carbon credit, what is it that you actually own? Is it a tangible good or service? Nope, it's like the air we breathe. Just assign it a value, set the limit on how much is available, take the money and run. Only a government entity could come up with a scheme. Produce nothing yet make money at doing it. Genius! It's like playing poker where nobody puts in any money and just assigning arbitrary value to each chip. White chip is $1, blue chip is $5, red chip is $10 and black chip is $25. Then see how everyone bets just like it was REAL money out on the table. Beauty is that once you collect chips someone else pays YOU what they're worth. Again. GENIUS!!
Posted by: timajin at August 24, 2009 10:23 AM
Posted by: TED at August 24, 2009 11:30 AM
Climate change is a focus-group tested term that allows them to burn the candle at both ends. If temperatures go up, they called it. If temperatures goes down, they called it.
... and remember, we can all thank their policies for the change, regardless of their actual effect on the environment.
This and cognitive dissonance (double-think) is more proof that liberalism is a mental disorder, curable only by death.
Posted by: AmericanToTheCore at August 24, 2009 11:36 AM
timajin, I've thought that too. Even better is the legislative outcome. If the liberals pass "climate change" legislation, and the climate stays the same (which it obviously will), they'll take credit for it. If there's a warm or cold spell, they'll bleat that we left it too late, and now need a crash program run by...uh...them.
Either way they have a platform for their political aggrandizement, unless the grownups put a stop to it.
Posted by: Jay Guevara at August 24, 2009 12:15 PM
The gorebots should have taken credit when things started cooling down and run to the bank with their ill-gotten gains before anyone got wise.
But NOOOOOO, they wanted MORE!
Posted by: KHarn at August 24, 2009 4:21 PM
I wonder how much organized crime has in recycling racket?
Posted by: SPURWING PLOVER at August 24, 2009 9:39 PM