The US has some of the world's most boring looking money - it's all green. So we have terms like "greenbacks" for dollars, and "long green", meaning lots of money.
I offer this as context for what I found when I got to wondering what had happened to the United Nations "Green Climate Fund". You may recall that the Green Climate Fund was set up by the UN as the only result of the recent Rio de Janeiro Cancun conference on climate idiocy. When the Fund is going full throttle, it is supposed to disburse no less than $200 billion ($200,000,000,000) dollars each and every year to the developing countries.
It turns out that, unlike those of us skeptics who are falsely accused of receiving big bucks from big oil, the "Green Climate Fund" has already raked in millions of dollars to spend on fighting the evil forces of carbon. They have a catchy slogan, viz:
"The urgency and seriousness of climate change call for ambition in financing adaptation and mitigation". Ambition in financing? What's not to like?
Now, I've worked for development organizations before. The rule of thumb is that no more than 15% of the funds should go for administration, the rest needs to go to the eventual intended recipients of the largesse.
© WattsUpWithThat
Comment: Indeed, many countries are dumping their reliance on the US Dollar Reserve in favor of agreements struck in their own currencies. As confidence erodes, many of these foreign trade dollars will find their way back home - possibly sparking a brutal dollar hyperinflation. No new dollar creation is needed for this to happen.