Mark Weldon now in two minds about Carbon Trading

The announcement last week by Mark Weldon, CEO of the NZX, that they are going to sell their flash new carbon trading registry business TZ1 Registry to Markit, a global financial information services company, leaves the financial world more than just a little perplexed.

Mark has been banging on about his registry and how much potential for business and I guess profit that this new registry will have.

Then why sell the golden goose?

That is where Weldon either becomes the cleverest man in the world for flogging off this dead horse to a poor sucker, in this case Markit, or the biggest hypocrite New Zealand business has ever seen for turning his back on a growth opportunity akin to the second coming of the tulip bulb craze of the 1600s.

Most sensible people know that this carbon trading lark is based on a lie and eventually it will all come crashing down on itself and that is where Mark becomes a clever little bastard-ditching a no-hoper before it becomes a worthless millstone .

Payment will be made in Markit shares, currently worth around $NZ 60 million, so unfortunately this exposes the NZX to losses further down the line when carbon trading fails.

Lets hope Mark will be smart enough to see that coming and jump ship before that happens.

Mark Weldon's hypocrisy is clearly evident because he has fully backed this TZ1 carbon trading venture with all the rhetoric, pomp and circumstance and the so-called "science" that backs it up and is now leaving the registry services part of it behind.

NZX is left with the relatively insignificant TZ1 carbon trading division.

Prospective and current investors in the New Zealand Stock Exchange [NZX.NZ] will be left wondering, does Mark Weldon believe in the carbon trading business or is he just taking advantage of the ignorant and blind?

Lets hope it is the latter.


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Quote of the Year

"...creating product that is impossible to comprehend..."

Mark Weldon-Newstalk ZB , 17 Sept 2008

Mark was talking about the current market turmoil and some of the dodgy financial instruments that have led to its current shake-up.

Unfortunately for us though Mark and his NZX are putting together financial products that are even harder to comprehend than sub-prime related instruments.

He is helping develop a carbon trading platform that will make the current mess look like a walk in Central Park, during daylight hours.

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NZX financial data

• Summary
• Charts
• Dividends
• News
• Announcements
• Price History
• Related Securities

Related Amazon Material

The Great Global Warming Swindle (DVD) Buy new: $14.99 / Used from: $15.99 Usually ships in 24 hours

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Mark Weldon strikes out on Carbon Trading

When Mark Weldon came from a well paid Wall Street job at the beginning of this century to become CEO of the New Zealand Stock Exchange [NZX.NZ] I held much promise for this dynamic, ambitious, innovative and successful young man.

Weldon has fostered the NZX from a economic backwater exchange into a more broad based one with more revenue streams-even though it is still a underdeveloped exchange, but that is another story.

Unfortunately Weldon's latest push for more revenue, in the form of launching a "Carbon Trading platform", whatever that means, is at the risk of ameliorating his good results so far, and more.

Weldon seems to have caught the zealotry nature of the carbon trading Nazis , like Minister for "Climate Change", whatever that means, David Parker.

Mark talks of his TZ1 Carbon Platform as "leading the world" and "innovative".

"The most important thing NZX can do here is get the right CEO, free the business to succeed, and hold a high quality team accountable for results."

No it isn't Mark. Trading a real asset is the most important part of any market. Even if you had the smartest person in the world who fully understood the carbon trading market, you will still find it impossible to make this kind of platform a long term success because of its fraudulent nature.

Mark Weldon goes on:

"Mark Franklin is the perfect CEO for TZ1. He has the right technical background, knowledge, relationships, credibility, strategic skills and drive. Mark chose this position ahead of a number of global roles on offer to him - a choice that reflects his belief in the potential of this market.

Quite frankly we have heard this kind of enthusiasm for business and markets based on nothing for as long as human beings have had a history. The majority of Internet businesses and wild poppies traded in Holland during the 1600s were two similar fake manipulated markets and both of them collapsed with spectacular results.

The carbon trading market collapse will make those meltdowns look like a Tom Hanks and Meg Ryan movie.

The carbon trading market and the "economics" on which it is based has its genesis in the fraud that is the Enron invented carbon trading market and its associated Al Gore pushed "climate change" movement, scientifically disproved and with a negative economic impact rather than a positive one-which clearly makes it a liability rather than an asset.

To put so much misplaced faith in a market for trading carbon credits simply defies economics 101, something that Mark should have remembered from his 3rd form economic class-an asset has to have a clear value, be easily understood have a real demand based on an intrinsic value, not a demand pent up by politicians and scientists on the State breast-in other words a false market.

When the price of an asset is based on the regulator or principle organiser of trading that asset, TZ1 in this case, or the government setting or influencing the carbon price, then the relationship of trading to the value of that asset is not only artificial but in the long term unsustainable, in the true sense of that word, and will eventually lead to its collapse.

Mark Weldon has forgotten the basics to investing, what an asset is, the fact that a market relies on real assets to have any chance of a long term future and the history of previous economic collapses.

Putting faith in "Carbon Trading", being excited and passionate about it being a huge success is a thin veneer pasted over the reality behind it that it is based on a fraud.

You should be ashamed of yourself Mark.


Related Share Investor reading

Carbon Credit trading puts global markets at extreme risk
Of Tulip bulbs and Tooth fairies
Global warning: Tax iceberg ahead

Related links

TZ1 Market
Kristen Byrne - 15 year old schoolgirl debunks climate change myth

NZX financial data

• Summary
• Charts
• Dividends
• News
• Announcements
• Price History
• Related Securities

Related Amazon Material

The Great Global Warming Swindle (DVD) Buy new: $14.99 / Used from: $15.99 Usually ships in 24 hours

c Share Investor 2008