I can feel it, feel it with my hand. It’s there.
Renewables, man, get something for nothing. Harness the infinite power of wind, water, wave and tide. Why hasn’t it been done before? But of course it has – two thousand years ago – and has yet to overcome three basic and insurmountable problems”: intermittent, depends on locally weak, dispersed sources of energy, and no viable technology to store significant amounts of power. Bummer….
But Low Energy Nuclear Reactions, or LENR, are showing much more promise as an alternative energy source with a demonstration of a reliable, replicable, nickel-hydrogen gas low-energy nuclear reaction reactor on Monday at National Instruments national trade show at the Austin Convention Center in Texas.
The technique demonstrated by Celani is described here. He describes the desirable qualities for LENR of a class of Nickel/Copper alloys called the Constantans: high catalytic power at dissociating molecular hydrogen. Wiki indicates the name comes from metals with a low or negative temperature coefficient of resistance, or “constantan”.
He then describes his experiments with the measured resistance of Contantan wires while generating anomalous heat.
We observed a further increasing of anomalous
power that, if there are no mistakes around, was about
twice (i.e. absolute value of over 10W) of that detected
when the power was applied to inert wire. The R/Ro
value, after initial increasing, stabilized to 0.808.
If the consideration at point 11) is correct, we can
think that the reaction, apart some temperature threshold,
has a positive feedback with increasing temperature.
Another mysterious communication from Chan the Rossi Replicator has appeared. Curiouser and curiouser (said the E-Cat). In it, he gives insight into not only his view of the mechanism, details of the formula and activation proceedure, but also details of his lab:
I live in tropics and work outside under a tin roof. A large fan is used to cool me and blow away possible combustible gases. Concrete blocks are easy to set up for protection. I picked plantains for 6 mos to afford a good used glove box.
Would i be right in thinking this guy really does know chemistry? Two electrons + proton, aka an hydride ion is energetically closer to a neutron mass, making fusing of an electron proton “ensemble” with a nucleus as it is “assaulted by oscillated hydride ions” energetically possible?
1. RFG (Radio Frequency Generator) essential to HEAT tiny Cu particles which behave as short circuit to supply initial boost to 100 + C. It also acts on Fe by way of movement of particles which become individual magnets. It also aligns nano size Ni particles as if bowling pins ready to be assaulted by oscillated hydride ions.
2. Always use Cu for chamber. It has a permeability of 1. Steel is a shield.
3. I buy Mg powder from AmericanPyro. Place in metal container with attached tube for evacuating and pressurizing with H. Heated to 250 C and as it is cooled an uptake of H creates the essential MgH2.
4. Mix molar % of MgH2 30 (100% excess) Ni 30, Cu 20, Fe 20 in glove box. You might try igniter such as ANTIMONY TRISULFIDE or LITHIUM BOROHYDRIDE in tiny catalytic amounts.
5. Experiment with RFG to determine sweet spot for initial heating and then sweet spot for maintaining reaction, modulating pulse rate, frequency and power. Wave shape is important. Half wave sweet spots also exist. Key is sending Hydride ion into oscillations (e+p+e => n+e => e + Fusion)
To some, the Rossi E-Cat device has come out of nowhere, perhaps fueling the skepticism. This article in the Nebraska Engineer (blog) lists a number of competitors that may soon have marketable applications.
2. Defkalion Green Technologies claim they have a LENR/Cold Fusion product not based upon Rossi’s core design, perhaps based on another researcher Piantelli. They claim they will be announcing details of final products coming for sale this next week
3. Prof. George Miley has been involved in Cold Fusion / LENR research for many years, and is reporting energy density levels similar to Rossi.
4. Dr. Brian Ahern currently CTO of his own startup company, Vibronic Energy Technologies, founded in 2009, claims to have made a major theoretical breakthrough related to his earlier academic work at MIT.
5. In contrast to large industrial devices like the 1MW Rossi device claims are appearing of a simple approach, called Chan’s recipe, using a mixture of nickle and a metal hydride as a source of hydrogen, activated by a radio frequency generator. The accuracy of this report remains to be seen.
The view has been raised by Peter Heckbert that Rossi’s difficulties in patenting his device may in part arise because one cannot patent a “Natural Law”, thus leaving him wide open to competitors.
I think H-Ni fusion cannot been patented. The discovery and scientific proof could be awarded a Nobel price, but as a principle of nature it cannot been patented. Marconi could not get a patent for wireless communication, Otto and Diesel could not get a generic patent for combustion engines. They got patents for their devices.
Natural laws cannot been patented. Usage of micro- and Nanoparticles cannot been patented. This is already standard in industry and research. It is researched as a method to use the phase changes in Metalhydrides as a very efficient heat storage method by Max Plank Institute and as a method for solid state Hydrogen storage it is already used in many real products day by day.
The question in my mind is, what would the world look like, without the need for mining, transportation and combustion of large quantities of chemical fuels to provide the energy needs of society? And if this is so, how soon will the transition take place?
From Vortex list.
Re: [Vo]:Rossi opens 10 KW expression of interest list and sets 10 kW price
Aussie Guy E-Cat
Tue, 22 Nov 2011 01:15:21 -0800
Just placed my order for 10 x 10 kW plants. Will install them, at no cost in my, by children and by friends homes. Rossi said in the radio interview that they had cleared the certification issues and they expected the 10 kW plants to be available in less than 12 months. With a price of $5,400 for a 10 kW thermal plant, this will really upset the market. That is $0.54 / Watt of heat. Assuming the 20 year life Rossi claimed in the interview, the simple LCOE is so small as to make the energy almost free at $0.003 / kWh. At 30% efficiency heat kW to Ac kW with 3 Ac kW output, the electricity price rises to $0.01 / kWh. Good bye grid. It all changes.
On 11/22/2011 7:20 PM, Aussie Guy E-Cat wrote:
November 21st, 2011 at 11:25 PM
Dear Felipe From Chile:
You are right, we are organizing this.
BY THE WAY: WE COLLECT FROM NOW THE NAMES OF ALL THE PERSONS OR
ENITITES INTERESTED TO BUY AN E-CAT OF 10 KW. IF WE WILL REACH
10,000 NAMES IN THE LIST, THE PERSONS IN THE WAITING LIST WILL HAVE
THE RIGHT TO CONFIRM OR NOT THEIR ORDER AT 400 EURO/THERMAL KW. DO
NOT SEND MONEY, WE WILL ACCEPT THE ORDERS ONLY IF WE WILL REACH
10,000 NAMES IN THE WAITING LIST, COMBINING OUR LIST WITH THE
WAITING LIST ORGANIZED BY OUR BROTHERS OF HYDROFUSION .
ANDREA ROSSI, LEONARDO CORP. (PRESIDENT)
EUR4,000 (USD5,400) for a 10 kW heat / hot water plant
According to Rossi he has sold his first plant at a cost of 2,000 Euros per kilowatt, or 2 million for the 1 MW plant, although Rossi expects the cost to go down to 100 Euros per kilowatt installed — a tenth of what coal or natural gas power plants costs, minus the fuel costs.
I phoned NI headquarters and they put me in touch with the NI person in Italy who Andrea Rossi named to me in a Skype conference call today; and that person confirmed the customer relationship. I talked to two additional people as well.
Stefano Concezzi, who serves as NI’s Director of Science and Big Physics Segment, told me that NI does not comment on contracts made with customers, unless the customer requests a press release; but he could confirm that Andrea Rossi is a customer.
“I would love for him to be right.
“We support every kind of research for the betterment of human kind. Whoever is interested in doing that, we would be happy to support.”
Stirling stresses that at this time their contract should not be construed as a validation or confirmation of the E-Cat science, but a signal of NI’s willingness to help Rossi develop the technology.
On November 10, 2011 4:39 PM [MST], regarding the above story, I received the following from Trisha McDonell | Corporate PR Manager | National Instruments.
Subject: Re: final Re: contact info for E-Cat / NI contract
Thank you Sterling for allowing us to review. We approve the text, especially the National Instruments portion of the story that includes Stefano’s quote and information.
# # #
In other news, Rossi’s website was hacked:
November 10th, 2011 at 5:10 PM
Today we have been attacked by a strong hacking action. Our informatic has won the battle in few hours. I heard that we will be attacked again, and also got rumors that I will be personally attacked strongly in the next days: I am very happy of this, first because I will fight back, and this is my natural attitude, second because the more the puppetteers get ballistic and keep frenzy their puppett-snakes, the more i get evidence that my job is well done.
According to Rossi’s blog, Rossi is already self-manufacturing.
October 30th, 2011 at 3:54 PM
1. How many 1 megawatt plants can you sell in one year do you think?
2. When is the next sell?
3. When will the home plants be available for pursued?
I know time is of the essence, that’s why my questions are so rash. Thanks for you answers the mean alot for me.
October 30th, 2011 at 5:56 PM
1- From 30 to 100 for the first year is what we are already ready to make, but
we will get exponentially faster in time
3- this is a more complicated issue, because we need complex certifications
Fortunately, nobody appears to have given Rossi much money. But Rossi has abused the honest and sincere fans who have given him their moral support and encouragement. There is nothing wrong with wanting a new source of clean nuclear energy or wanting liberation from the petrocacy. I hope Rossi’s fans will remember their own dreams and desires for a better world and continue their enthusiasm for legitimate low-energy nuclear reaction research and technology.
And a good riff on what it would be taking to perpetrate a scam:
Unfortunately, if Rossi hired a bunch of actors to pretend to be the customer reps, created an elaborate year-long special-effects-derived series of demos, bribed, hypnotised or otherwise fooled Focardi, Levi, Kullander, Essen, Bianchini, Stremmenos and convinced a bunch of Greek crooks to set up a dummy company called Defkalion to pretend to fight with him over the non-existent eCat, to perpetuate the illusion and spin it off into a competing mirror-scam and convinced his former partners to set up another company called Ampenergo to pretend that they had a contract for The Americas for a substantial sum or that they just did this with no proof because they have worked with Rossi and trust him because he’s such a fine fellow, arranged for Piantelli, Miley and a host of others to try to fool the world into thinking that cold fusion was real, got NASA, SPAWAR, The Defense Threat Reduction Agency and The Defense Intelligence Agency to say nice things about the field, got Bushnell to make a fool of himself, sold his profitable company to his ex-partners in order to spend that wealth on a multi-million dollar scam; certain that once he got all the above ducks in a row he would pretend to sell the first device and then reel in the true target of his dastardly plan – the second (this time genuine) buyer of a 1MW plant that will net him $2 million dollars until they want their money back or sucker a $100 million dollar deal under the table because he has experience in pulling the wool over all these idiotic eyes and knows that they will just take his word for it and not want to test if his 1MW plant can heat a small village without truckloads of coal or oil or a big fat electric cable coming into the container from beneath the floor (no you can’t lift the carpet!) and that, in order to pull this off, Rossi had to risk discovery by interviewing all the people he subsequently fooled so that he could only invite the gullible Professors and not the brilliant anonymous posters on the Internet who surely would have found him out – then all bets are off and I’m with the guys who think that Rossi is an idiot and they are all geniuses.
Interest in cold fusion among the establishment science has always been lukewarm, to say the least.
The real news is happening today in Bologna, where Andrea Rossi, as per schedule, is demonstrating his 1MW Ni-H nuclear powered reactor. This event will be ignored as usual by this journal*, but reports can be expected in the Swedish technology journal Ny Teknik , and the Italian science magazine Focus .
*as predicted with >99% certainty, on the basis of Bayesian statistics
To continue, following the event: the demo appears to have been successful; you can read a report “here”: http://pesn.com/2011/10/28/9501940_1_MW_E-Cat_Test_Successful/. It is anticipated that there will be an AP report in a few days’ time, after which event it may be difficult for Nature to continue to maintain its deafening silence over this development.
Dr John Wright, an advisor to CSIRO’s Sustainable Energy Partnerships, previous Director of the CSIRO Energy Transformed Flagship and Chief of CSIRO Energy Technology, described Australia’s energy strategy as plodding:
Now, I never discount the possibility of a disruptive technology – I often dream about being a developer of a disruptive technology, but I haven’t managed to do it yet, even though I spent a number of years in my shed trying to come up with something – something that will change the picture completely. Just look at what has happened over the past couple of decades. You just couldn’t imagine some of the changes that have occurred.
I must say that in the energy field they haven’t been all that quick and stunning, but perhaps its time is yet to come. There is something like a fourth generation nuclear technology that doesn’t produce any dangerous materials and is cheap – a variation of cold fusion, maybe. A method that turns water into its components, hydrogen and oxygen, cheaply using sunlight. There is a lot of work going on around the world on that at the moment. We have proponents of things like zero point energy, exploiting the weirdness of the quantum dimension.
Who knows what is going to come along. And perhaps we are going to need something like that to really get us to where we want to be. So pick your own energy breakthrough that will change the world. But I’m afraid in the meantime we’ll plod along with what we know now to push the edges of existing technology.
Things stand to get a lot more interesting.
Some links of interest for following the test of Rossi’s 1MW cold fusion reactor.
Daniele Passerini twitter feed (in Italian). Google Reader will translate it for you. He just claimed that Associated Press has the exclusive rights to the test today, so this one will get coverage.
I will add more links as they come online.
Video of the test – big, noisy.
Input (blue) and output (red) temperatures over time for the 1 MegaWatt E-Cat test at Bologna on the 28th of October 2011.
The main justification for a Carbon Tax has been that it is necessary in order to make lower-carbon technologies competitive with coal and gas. However, recent persuasive demonstrations of copious energy generation from a new technology based on a non-carbon nickel/hydrogen system show just how wrong this assumption is.
The technological breakthrough of LENR (or CANR) is no longer speculation. It is a fact that will eventually change the world’s energy problems and its sociopolitical divides through cheap, clean and green energy. The world needs LENR as a new energy source. Although change will not happen over-night, LENR will help reduce CO2 emissions, lower the cost of energy, and provide longevity to our planet’s energy needs.
Defkalion sees its role with responsibility and asks the community at large to continue its support.
• Enhanced technology and engineering on Rossi’s invention or similar inventions
• Prepared business models for international expansion
• Established a strong network of global contacts
• Prepared legislative and certification procedures
• Ensured national, regional and international network in politics and business
• Prepared global financing
Defkalion has worked in close partnership with Andrea Rossi for a very long time to prepare a commercially viable and industrially applicable product using his invention. Defkalion invested a lot of money to evolve Rossi’s E-Cat lab prototype into its Hyperion product. Defkalion is now at the stage where its industrial prototype is ready for production.
Defkalion has held direct business discussions with 62 interested companies who visited our offices in Greece and witnessed our work. Small industry and large energy players internationally were all impressed by our progress in technology and engineering. More are still coming. Despite this phenomenal progress, Defkalion never made promises.
Our aim has always been to inform and demonstrate to public our progress when the final product is ready for use, thereby avoiding any speculations.
Rossi, however, seems determined to go it alone, continuing to solicit designs for a low-cost version of the E-Cat.
With the Carbon Tax legislation up for a vote on Wednesday, this is a critical week. Skeptics should embrace the challenge of communicating common-sense and logic over Green ideology. I feel strongly we should not give up, wave a white flag and surrender.
Every week there are more reasons not to pass this legislation. The global temperature continues not to rise. The ocean heat remains stable. Global warming appears to have peaked. More research is published showing flaws in previous studies used by the IPCC.
Even if global warming were a problem, which it is not, as hundreds of billions of tax-payer dollars have failed to find little more of concern than reduced Arctic ice, and reduced hurricanes, both of which are beneficial anyway.
But if it were, new technologies that are safe, cheap and produce abundant energy without CO2 emissions are right around the corner. Among the climate bloggers, I have been the first and consistently brought the Rossi E-Cat technology to your attention.
The E-Cat is a simple combination of nickel powder, hydrogen, a heater and a secret catalyst that produces abundant nuclear energy with very little radiation or radioactive by-products. People don’t get the importance of this yet. But you can buy one now. In 10 years this or a similar process will probably supply the majority of our power for a tenth of the cost of present sources.
The Greens say that its good to reduce our consumption of energy for the planet’s sake. That is utter nonsense. Energy use is directly correlated with human welfare, health, cleaner environment, and nature conservation.
Even if it does pass, the victory for the burgeoning bureaucracy and nervous ninnies will be temporary for two reasons:
1. With every passing year, as it has for the past decade, the temperature fails to meet the bogus model predictions, the poor science that bolstered this policy will be revealed to a poorer but wiser public.
2. As cold fusion technology takes off, the energy sources that need massive government subsidies like wind and solar will be first to go, then increasingly hydrocarbons, purely through market mechanisms.
Government intervention, research and carbon pricing will have contributed nothing. While ideologically motivated climate-science has left a bad taste, it will not last. The fruit of human ingenuity is sweet.
Here is the text of Rossi’s appeal, following up from the Oct. 6 test:
“The E-Cat basic module “for the People”, that we will put in commerce within months, will be 40 cm long, 40 cm large, 40 cm high, will weight 60 kg, the shape of a cube. I need a design cheap ( I want to put it in commerce at a price of 500 euros per kW) but nice, very nice. I will buy the design which I will choose and everybody has my honour word that I will not use designs not paid. I need it within two months.
Go to the report of Nyteknik to see the pipes position: that will be it.
Please send proposals to firstname.lastname@example.org
I am sure that from the enthusiasm od our Readers will pop up a masterpiece.”
— SilverThunder 08:05, 8 October 2011 (PDT)
There is absolutely, positively, no doubt that this system produced massive amounts of anomalous heat.
The NyTeknik Rossi report, translated to English.
As in previous tests, the start-up was effected by heating the E-cat with an electrical resistor at about 2.7 kilowatts, this time for about four hours, in order to achieve, according to Rossi, sufficient stability.
The power to the resistor was then switched off, and the reactor functioned in self sustained mode for about three and a half hours, with no measurable signs of decrease (see detailed report and temperature data).
The ‘energy catalyzer’ is loaded with nickel powder and a number of secret catalysts and is pressurized with hydrogen gas. Excess heat is possibly produced via an unknown nuclear reaction, involving nickel and hydrogen.
Initial reports of the ongoing test of Rossi’s ECat in Italy are positive. The 1MW unit was also on display.
Having followed this story from the beginning, maintaining The Future is not Green, but Grey I congratulate Mr Rossi and all involved.
Lets see, some likely, and not so likely, predictions:
- There will be a massive fire-sale of renewable energy products that have been underwritten by Government spending of billions of dollars, as it plays an decreasingly important role in Australia’s energy mix.
- CSIRO renewable energy researchers commit collective intellectual Seppuku.
- Within 10 years LENR will supply the majority of energy supply at one tenth of the cost.
- The US economy rises again on the backs of a new technology, as the patent holder, Rossi, and supporters of the technology are affiliated with the US,
- Massive geopolitical shift, as economies cut the UN and traditional oil-producing countries adrift.
- Technologies based on massive power inputs, like desalination and irrigation on massive scales, become practical.
- Climate scientists think up new scary scenarios based on excessive release of latent heat.
Staying up following the twitter feed of Rossi’s event here by Daniele Passerini (http://22passi.blogspot.com). Its in Italian, but if you subscribe in Google Reader, it will be translated.
10:08pm 22passi: Reactor self-sufficiency!
More info: http://peswiki.com/index.php/News:Real-Time_Updates_on_the_October_6%2C_2011_E-Cat_Test
Wired is first: http://www.wired.co.uk/news/archive/2011-10/06/e-cat-cold-fusion
The upcoming test of Rossi’s reactor is scheduled for Oct 6th at the University of Bologna, Italy, the oldest continuously operating university in the world.
The calorimetry will be more rigorous than before. There will be a primary steam loop, a heat exchanger, and a secondary flowing water loop. The reactor will be run in heat after death mode for extended periods. If things go according to plan, this will be much better than previous tests, and may be definitive.
If so, we will witness the opening of a new chapter in human civilization.
UPDATE: Twitter feed of the event here.
Which is better for the environment: renewable energies, oil, gas, coal or nuclear energy? The environmental damage caused by energy sources can be measured by their ‘footprint’ — the area required to produce a specific amount of energy.
An article in Forbes lists the energy produced per unit area of major energy sources, from which I have calculated the area required to produce a specific amount of energy.
Table 1. Relative environmental damage from power sources in square meters destroyed per Watt of energy produced (m2/W).
Simple math shows that a gas or oil well has a power density at least 22 times that of a wind turbine as so uses 22 times less area for the same power generation. If damage to the environment was the only concern, oil and gas are 22 times more friendly.
The big environmental saviors are nuclear power which has 1000 times greater power density than biofuels, and so is 1000 times more environmentally friendly, and potentially LENR, low energy nuclear reactions, which could pack even more power into a smaller area due to low shielding requirements.
It could be argued that distributed power sources are more efficient because they are located closer to their sources. In fact, this is not the case as a source with low power density requires more resources for transmission lines and storage, reducing the economic viability and potential to scale.
It is obvious from this basic analysis, and has been shown from experience, renewable energies such as biofuels, wind and solar are bad for native fauna and flora.
The inevitable conclusion is that advocates of renewable energy do not care about the environment.
The progress of civilization is characterized by the utilization of denser energy sources. The environment has benefited from the reservation of larger areas of land in their natural state. The inclination to dispersed energy sources is a form of neo-Luddism — opposition to any modern technology.
Rossi revealed on his blog site that The Customer is a person and not a corporation.
September 24th, 2011 at 10:46 AM
Dear Simon Knight:
By half October we will explain exactly what follows:
1- where the 1 MW plant will be tested
2- all the (not confidential) characteristics of the 1MW plant (the complementary part is more reactors, of a new type that in the meantime we have developed)
3- possibly, who is the Customer, if the Customer will allow us to communicate his name.
The measurements will be made, as I said, by world top class scientists.
I can confirm that we are well in schedule, therefore all will happen in October.
I also confirm that in November we will start our commercial strategy.
Which made me wonder, could the person be Bill Gates? He has previously written an article at Huff Post titled Why We Need Innovation, Not Just Insulation stating what every rational person knows about current strategies of renewables and efficiency improvements:
No amount of insulation will get us there, only innovating our way to essentially 0-carbon energy technology will do it. If we focus on just efficiency to the exclusion of innovation, or imagine that we can worry about efficiency first and worry about energy innovation later, we won’t get there.
He goes then drops a hint about projects.
To achieve the kinds of innovations that will be required I think a distributed system of R&D with economic rewards for innovators and strong government encouragement is the key. There just isn’t enough work going on today to get us to where we need to go.
Under the Labor-Green Carbon Tax legislation the renewable energy sector will receive over $13 billion in funding, including $10 billion for the establishment of the Clean Energy Finance Corporation (CEFC), which will invest in renewable energy and energy efficiency projects and technologies, and $3.2 billion for the establishment of the Australian Renewable Energy Agency, for research and development into renewable technologies.
But the dim bulbs running the country determine that nuclear technologies, which Rossi’s is, will be excluded from the fund.
Not that it will matter if Rossi’s demo in October works, and someone like Bill Gates is The Customer. There will be an e-Cat on every desktop within 10 years.
Here is Rossi’s 1MW plant consisting of 52 individual E-Cats mounted in a shipping container, reported by NyTechNik.
Above is a video tour of the 1MW plant. A successful trial in October will prove beyond doubt a clean nuclear energy with at least a tenth of the cost of fossil fuels, without emissions of greenhouse gasses.
It will demonstrate, once again, the folly of governments trying to pick winners, such as the billions of dollars directed at renewable energy that will never deliver on its promise.
Rossi developed the technology entirely using his own money.
Compare this with the billions of dollars in renewable research and development, poured down the drain by the Australian Government on behalf of the Australian taxpayer. Most scientists in fields of Low Energy Nuclear Reactions (LENR) have long shut up shop for lack of a small fraction of that amount of money.
If successful it will again prove that like anthropogenic global warming, modern science is motivated by the quest for government grants, discourages new ideas and new theoretical models, and is ruled by powerful special-interests.
See this recent letter from the DoE on cold fusion research:
Monday, September 19, 2011
Dear Mr. Owens:
This is in response to your e-mail message to Secretary Chu dated September 13, 2011 in which you asked to know where the Department of Energy stands on “cold fusion.”
In 1989, a review panel that had been charged by the Department concluded that reports of the experimental results of excess heat from calorimetric cells did not present convincing evidence that useful sources of energy will result from the phenomena attributed to “cold fusion.” To quote the panel, “Hence, we recommend against the establishment of special programs or research centers to develop cold fusion.”
In 2004, the Department organized a second review of the field and that review reached essentially the same conclusion as the 1989 review. The Department’s Office of Sciences does not provide any funding support for “cold fusion” research.
Cold fusion is still laughed at by the entire establishment science. Of course if the test in October turns out to be flop, the joke will be on me. I think I can handle that. If not, then the entire establishment science from the Royal Academies down needs a close look to see whether they provide anything of value.
How ironic if the free market delivers a viable, cheap, clean energy solution at no cost to humanity, when the social democrats whose reason-to-be is to save us from the market, as the Prime Minister revealed, have with billions of taxpayer dollars done nothing, nada, zilch.
See background article here.