Guys Behind the Curtain
Research for Online Investors

by John Dalt

11/24/09

The Global Warming world improvers started using the term 'Climate Change', as there was some disagreement whether or not the climate was actually warmer.  Some data showed the hottest year was 1998, and climate had actually cooled since then.   The mantra was always that there was a ‘consensus’ of scientists that agreed that global warming was real and caused by humans.  Thanks to some computer hackers, we now know that the ‘guys behind the curtain’ were cooking the books.

This week, e-mails were leaked, from a prominent group of scientists who have been strong advocates of global warming at the Climatic Research Unit (CRU) in England.  The CRU is the premier climate resource for the U.N. Intergovernmental Panel on Climate Change.  The U.S. Environmental Protection Agency relied on the U.N. report “most heavily” in concluding that carbon dioxide emissions endangered public health.

Senator Inhofe of Oklahoma has called for hearings.  There are allegations of doctored results, destroyed evidence that didn’t support their opinions, and computer code was manipulated to give the results they wanted.  One e-mail from the director said, "I've just completed Mike's Nature trick of adding in the real temps to each series for the last 20 years (ie from 1981 onwards) and from 1961 for Keith's to hide the decline.”

The CRU received funds from the U.S. Commerce Department.  One email refers to reporting how the funds were spent.  "We need to show some left to cover the costs of the trip Roger didn't make and also the fees/equipment/computer money we haven't spent otherwise NOAA will be suspicious."

Catching the rats in a global power grab by falsifying science is a major coup.  Will our congress and president listen?  Probably not, world improvers do not care about the facts.  They are on a mission to control our lives, and climate change legislation that controls our lives, is just too important to be derailed by facts.  You can read the CBS News article, “Congress May Probe Leaked Global Warming E-Mails.”

In response to the leaks, the University of East Anglica, home of the CRU, said that “information published on the Internet had been selected deliberately to undermine the strong consensus that human activity is affecting the world's climate in ways that are potentially dangerous…The selective publication of some stolen e-mails and other papers taken out of context is mischievous and cannot be considered a genuine attempt to engage with this issue in a responsible way."

Remembering Michael Crichton; a trained scientist, doctor, and novelist who before he died, asked “show me the science.”  If it is science, it is repeatable, it is provable, and it is fact, not consensus.   If you would like to view some great video, watch Charlie Rose interviewing Michael Crichton about global warming.

If you would like more information on the embarrassing information that has been released read “Hackers Leak E-mails, Stoke Climate Debate” from CBS News.

To the mailbag:
“The banks borrow money short term at low interest then buy Treasuries.   How long will the banks keep doing this?  Aren’t they afraid of the collapse of the market?”---subscriber T.M.

They will do it until interest rates rise and the spread tightens. There are already cracks starting to show. We don’t see them yet, but premiums for credit default swaps (CDS) on Japanese, British and U.S. treasuries have been moving higher in the last 60 days. According to the Organization of Economic Cooperation and Development, all three countries are running deficits in excess of 8% of GDP through 2011  This may bring back a term not used for some years, “bond vigilantes.” The bond vigilantes play the bond market for higher yields, and once a government’s script is suspect, the interest rates must rise, or the vigilantes will shun it. The adjustment will be abrupt.
---John

“Your use of a trailing-stop loss is a break-through for me.”---subscriber V.B.

We are glad to help our subscribers in Russia!
---John

“Men occasionally stumble on truth, but most of them pick themselves up and hurry off as if nothing ever happened.”
--- Sir Winston Churchill

The information presented in this newsletter is based on generally available news releases, corporate filings, current events, interviews and the editor’s opinions.  It may contain errors and you should not make investment decisions based solely on what you believe you have read here.  Do your own research, it is your money.  If you lose it, it is your responsibility, not ours or your grandmothers!  The editor may or may not have a position in any securities discussed.  The editor may have held a position in a security earlier, or in the future.

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