Where W = Waste is a positive or negative result.

Let’s refine this:W = ½(+-x cubed kilometres air) + 1/3(+-y cubed kilometres water) + 1/6(+-z cubed kilometres ground).

If positive, i.e. in your favor, you sit with a carbon debit, as an asset, and with a credit to a non-distributable reserve

If negative, i.e. against your favor, you sit with a carbon credit, as a liability, and with a debit to a distributable reserve.

The hob knobs must just ask all 190 countries to come up with a fuzzy ‘y’ and stick it into a terraflop (sic) computer for simultaneous solving. The result WILL be a net debit as an asset, as everybody will cheat.

So then we redo it with optimized equation solving until we sort it out and start carrying it on governments’/corporates’ balance sheets as assets or liabilities.

Only then can we start trading carbon debits and credits.

Lloyd’s, when they get into the environment, we are really scraping the bottom.

One company that is looking very seriously at this is Lloyd’s of London. Take a look at the series of reports that they’ve put out on the subject. http://www.lloyds.com/News_Centre/360_ri sk_insight/The_debate_on_climate_change/ Reports_and_views_on_climate_change.htm

The latest is a pamphlet that they put out on the security risks of climate change to business with the International Institute for Strategic Studies last year.

Anyhow, further to your Greek spreadsheet model: Foreign reserves graph good:

X1 axis: Months of imports;
Y axis: Calendar Years from 1999;
X2: International liquidity in $ billions;

where International liquidity =

Gold reserves+SDR holdinbgs+Forex reserves = Gross reserves;

Less foreign loans, less foreign deposist received =

International liquidity position = Net Reserves.