The carbonate-silicate cycle, which plays a key role in stabilizing Earth's climate over long time scales, is shown in Fig. 2. The cycle begins when atmospheric CO2 dissolves in rainwater, forming carbonic acid, H2CO3. Through a process termed "weathering", this weak acid dissolves silicate rocks on the continents, releasing Ca++, Mg++, HCO3- (bicarbonate), and SiO2 (dissolved silica) into solution. The products of weathering make their way down to the oceans in streams and rivers. There, organisms such as the planktonic foraminifera that live in the surface ocean use them to make shells out of calcium carbonate (CaCO3). When the organisms die, they fall down into the deep ocean, where most of the shells redissolve. Some of the calcium carbonate survives, however, and is buried in sediments on the seafloor. The seafloor spreads from the midocean ridges and, at some plate margins, is carried down subduction zones. The carbonate minerals recombine with SiO2, which by this time is the mineral quartz, to reform calcium and magnesium silicates and release gaseous CO2. This CO2 is vented into the atmosphere through volcanoes, thereby completing the cycle.
Fig. 2 Diagram illustrating the carbonate-silicate cycle. The term "metamorphosis" should read "metamorphism." (From J. F. Kasting, Science Spectra, 1995, Issue 2, p. 32-36. Adapted from J. F Kasting, 1993.)
The stabilizing negative feedback in the carbonate-silicate cycle is produced by the dependence of the silicate weathering rate on temperature. When surface temperatures drop, the weathering rate slows down, and CO2 accumulates in the planet's atmosphere. Thus, an Earth-sized planet that had such a cycle would be expected to build up a dense CO2 and a large greenhouse effect if its surface temperature became too low. This suggests that the outer edge of the HZ is relatively far out, perhaps beyond the orbit of Mars (Mischna and Kasting, 2000). It also explains how our own planet escaped from Snowball Earth episodes in the past (Caldeira and Kasting, 1992).
From the link
http://www3.geosc.psu.edu/~jfk4/PersonalPage/ResInt2.htmI would like to stress the importance of the shelf / relativily shallow organically derived carbonates and silicates in ocean sediments. These deposits rather than the deeper dissolved inorganic carbon represent the very long lived carbon sink. The deeper dissolved inorganic carbon can move back into the atmosphere in 1000-1500 timeframes whereas the shallower sediments are moved by tectonic processes and on geological timeframes. Even Rob Painting's piece in Skeptical seemed to miss this point.