Did you hear about the “historic” agreement in Paris on climate change? I read somewhere that President Obama is taking credit for it, like he’s saving the planet or something. But it isn’t about climate, it’s about wealth transfer.

The draft of the international agreement to deal with climate change, which is being considered today in Paris by representatives from 195 countries, calls for the developed nations of the world (which include the United States) to transfer wealth to developing nations, including through “public funds.”

“Developed country Parties shall provide financial resources to assist developing country Parties with respect to both mitigation and adaptation in continuation of their existing obligations under the Convention,” says Article 9 of the draft agreement.

“As part of a global effort, developed country Parties should continue to take the lead in mobilizing climate finance from a wide variety of sources, instruments and channels, noting the significant role of public funds,” says the draft.

The draft agreement sets a goal for developed countries to dole out at least $100 billion per year by 2020.

Read the whole thing, it gets worse.