So Goes Greece, Goes the European Union?

Stunned Greeks React To Initial Capital Controls And The “Decree To Confiscate Reserves”, And They Are Not Happy

Earlier today, following weeks of speculation, Greece finally launched the first shot across the bow of capital controls, when it decreed that due to an “extremely urgent and unforeseen need” (ironically the need was quite foreseen since about 2010, but that is a different story), it would be “obliged” to transfer – as in confiscate – “idle cash reserves” located across the country’s local governments (i.e., various cities and municipalities) to the Greek central bank.

Several hours later the decree which was posted in the government gazette has finally percolated among the population, and the response to what even ordinary Greeks realize is now the endgame, is less than exuberant.

Bloomberg reports, that “as Greece struggles to find cash to stay afloat, local authorities say they oppose a government decision to use their reserves for short-term financing.”

“The government’s decision to seize our reserves not only raises legal and constitutional issues, but also a moral one,” said George Papanikolaou, mayor of Glyfada, the third-largest municipality in the metropolitan region of Attica after Athens and Piraeus. “We have a responsibility to serve our citizens,” Papanikolaou said by phone on Monday. Glyfada has about 16 million euros in cash reserves, he said.

George is unhappy because as recently as tomorrow, he will find there is precisely zero euros in his public bank account, as all the money has now been forcibly sequestered by the government in order to repay future Troika, pardon, IMF obligations.

Sadly for Greece, this is the only option left as the money has now fully run out: Greek Prime Minister Alexis Tsipras ordered local governments and central government entities to move their cash balances to the central bank for investment in short-term state debt.

From Bloomberg:

The decree to confiscate reserves held in commercial banks and transfer them to the Bank of Greece could raise as much as 2 billion euros ($2.15 billion), according to two people familiar with the decision. The money is needed to pay salaries and pensions at the end of the month, the people said.

 

“It is a politically and institutionally unacceptable decision,” Giorgos Patoulis, mayor of the city of Marousi and president of the Central Union of Municipalities and Communities of Greece, said in a statement on Monday.“No government to date has dared to touch the money of municipalities.”

It took the radical leftist one all of 2 months since coming to power.

And the punchline is that the use of confiscated proceeds is unclear: the government says it is to pay pensions and wages, but recall that the same government recently confiscated pensions to repay the IMF, so according to the chain of logic, the government first raided pensions, and now municipalities, just to repay the dreaded Troika.

The Athens city council and the union of municipalities and communities in Greece will convene tomorrow to debate the order, a press officer of the mayor’s office said.

And one everyone realizes what just happened, expect the riot cam and the Greek Pay-Per-Riot channel, which has been on hiatus since the summer of 2012, to be fully reactivated.

How to Create a New Country, Declare it SO

Birth of a nation? Czech pol claims to have established new country in no-man’s land

Welcome to Liberland, population 250,000…and anyone else looking for a tax haven.

A self-professed Libertarian politician from the Czech Republic says he has created a new, sovereign country on the Croatian-Serbia border where citizens decide their own tax burden, property and individual rights are respected and the national motto is “Live and Let Live.”

Vít Jedlička, a member of the Conservative Party of Free Citizens, recently appointed himself president of the Free Republic of Liberland, a “micronation,” located on the banks of the Danube River in a 2.7-square-mile patch of what he says is unclaimed territory. Jedlička says neither neighboring nation claimed the land when they established their borders following the breakup of Yugoslavia, and claims international law allows his claim.

“The objective of the founders of the new state is to build a country where honest people can prosper without being oppressed by governments making their lives unpleasant through the burden of unnecessary restrictions and taxes,” reads a statement that could be a precursor to Liberland’s constitution.

Jedlička, a regional president of one of the Czech Republic’s northern districts, told FoxNews.com it was time for a new, independent state in Europe.

“We really felt restricted. We really felt under pressure,” Jedlicka said via a phone interview from Prague. “We really feel that Europe needs another tax haven. We need a place where people can prosper.”

Jedlička says he ran for office a total of five times in his native Czech Republic, always on a platform of tax reform.

“We couldn’t make our government lower taxes,” he said. “I tried hard to tell my politicians that we need to lower taxes. That we need to lower regulation.

“All my opponents told me, ‘you should have your own state to prove your ideas of liberty,’” he said. “So I did it.”

Jedlička began researching existing areas of land classified as terra nullius, or “no man’s land.” The small plot where he intends to build his nation, where the only resident agreed to the nation-building scheme, was one of the last in existence. Still, it is unclear whether Jedlička is on solid legal ground under international law. Neither Serbia nor Croatia will allow journalists into the area from its territory and the government of Croatia is not recognizing the newly formed nation.

“We do not consider them to be a nation. We consider them to be virtual trespassers and we do not take their claims very seriously,” an official for the Croatian Embassy in New York City told FoxNews.com.

“All my opponents told me, ‘you should have your own state to prove your ideas of liberty’…so I did it.”- Vít Jedlička, President of Liberland

An undeterred Jedlička said he has already received about 250,000 applications for citizenship and those people have already been approved, even though most will never live – or likely set foot in – Liberland. He boasted that Liberland has already received commitments from various investors, including one who is willing to set up a telecommunications infrastructure.

“We believe we can set up the last state on the planet. We are taking the best parts of the American Revolution and the U.S. Constitution and applying it here,” he said.

Lloyd Bonfield, an international business law professor at New York Law School said that it’s likely the land where Liberland set up is already part of an existing nation.

“One would probably need to go back to the UN-brokered armistice between Croatia and Yugoslavia in 1992 to ascertain the borders of Croatia,” Bonfield said. “If this land was not within Croatia’s borders, it likely remained part of Yugoslavia and that part of Yugoslavia is now Serbia. It is difficult to see how it would be part of neither.”

The Clinton’s and False Philanthropy

The Latest Available Clinton Foundation Filings Appear Deceptive

by: Charles Ortel

My interest in the Clinton Foundation financial disclosures was originally sparked by an article written in the New York Times entitled “Unease at Clinton Foundation over Finances and Ambitions.”

Considering this article with the benefit of hindsight after having poured through reams of public filings and comments made by the Clinton Foundation as well as related parties, one wonders how seriously management, directors, and other employees take their manifold legal duties, particularly when it comes to making truthful and complete disclosures.

Since August 2013, few investigative reporters have dug deeply enough below the surface of Clinton Foundation filings, seeking and finding answers to questions concerning the stated financial performance of significant constituent entities as well as the consolidated whole.

I have completed a summary review of these filings, and have attached a report which answers a few key questions. Specifically:

  1. What do Clinton Foundation disclosures tell informed readers about the stewardship of billions of dollars in “charitable contributions” sent to Little Rock, to New York City, to Boston, to London, and to Stockholm from numerous donors with modest means, from wealthy and powerful donors, and from a host of governments and government-connected benefactors?
  2. Did management exercise vigilance to ensure that the Clinton Foundation actually carried out its original and its amended tax-exempt purposes?
  3. Did directors take reasonable care, as fiduciaries, under applicable state, federal, and foreign laws to operate this charity serving, at all times, a public interest?
  4. Are all business arrangements with material “related” parties fully and adequately disclosed in annual, publicly available filings that comparable charities regularly complete on time?

Or, do the Clintons, and others who operate the Clinton Foundation, function as Robin Hood in reverse? Do they dupe small, modest income donors to enrich themselves and cronies?

Headline Conclusions of the First Foundation Report

The truth is that it is difficult to perform penetrating analysis of publicly available financial information pertaining to the Clinton Foundation because, so far, it is not technically complete in numerous material respects.

The numbers that the Clinton Foundation supplies to the public in its legally mandated filings do not add up, are frequently incorrect, and appear to be materially misleading. In numerous cases, the Clinton Foundation appears to have followed inconsistent policies adding in appropriate portions of the various activities it pursued around the world to create “consolidated” financial statements.

As the attached report notes, In several instances portions were added only for some of the years in which the entities remained in operation, artificially enhancing purported financial results. In other cases, important elements of activity were improperly characterized and combined.

Meanwhile the Foundation solicits donations even though its informational filings are not in compliance with applicable law. Regulators at Federal, State, Local, and international levels are not doing what they should do to protect the public.

Why?

And how long must we wait before regulators at home and abroad remedy rampant and persistent deficiencies in the Clinton Foundation’s operating and disclosure practices.

The attached print report details ten specific concerns about the most recent Clinton Foundation filings. I invite your considered reaction.

Read the full interim report here.

Clinton Foundation(s) Collusion

From their website:

Creating Partnerships of Purpose We convene businesses, governments, NGOs, and individuals to improve global health and wellness, increase opportunity for women and girls, reduce childhood obesity

New Book, ‘Clinton Cash,’ Questions Foreign Donations to Foundation

The book does not hit shelves until May 5, but already the Republican Rand Paul has called its findings “big news” that will “shock people” and make voters “question” the candidacy of Hillary Rodham Clinton.

“Clinton Cash: The Untold Story of How and Why Foreign Governments and Businesses Helped Make Bill and Hillary Rich,” by Peter Schweizer — a 186-page investigation of donations made to the Clinton Foundation by foreign entities — is proving the most anticipated and feared book of a presidential cycle still in its infancy.

The book, a copy of which was obtained by The New York Times, asserts that foreign entities who made payments to the Clinton Foundation and to Mr. Clinton through high speaking fees received favors from Mrs. Clinton’s State Department in return.

“We will see a pattern of financial transactions involving the Clintons that occurred contemporaneous with favorable U.S. policy decisions benefiting those providing the funds,” Mr. Schweizer writes.

His examples include a free-trade agreement in Colombia that benefited a major foundation donor’s natural resource investments in the South American nation, development projects in the aftermath of the Haitian earthquake in 2010, and more than $1 million in payments to Mr. Clinton by a Canadian bank and major shareholder in the Keystone XL oil pipeline around the time the project was being debated in the State Department.

In the long lead up to Mrs. Clinton’s campaign announcement, aides proved adept in swatting down critical books as conservative propaganda, including Edward Klein’s “Blood Feud,” about tensions between the Clintons and the Obamas, and Daniel Halper’s “Clinton Inc.: The Audacious Rebuilding of a Political Machine.”

But “Clinton Cash” is potentially more unsettling, both because of its focused reporting and because major news organizations including The Times, The Washington Post and Fox News have exclusive agreements with the author  to pursue the story lines found in the book.

Members of the Senate Foreign Relations Committee, which includes Mr. Paul and Senator Marco Rubio of Florida, have been briefed on the book’s findings, and its contents have already made their way into several of the Republican presidential candidates’ campaigns.

Conservative “super PACs” plan to seize on “Clinton Cash,” and a pro-Democrat super PAC has already assembled a dossier on Mr. Schweizer, a speechwriting consultant to former President George W. Bush and a fellow at the conservative Hoover Institution who has contributed to the conservative website Breitbart.com, to make the case that he has a bias against Mrs. Clinton.

And the newly assembled Clinton campaign team is planning a full-court press to diminish the book as yet another conservative hit job.

A campaign spokesman, Brian Fallon, called the book part of the Republicans’ coordinated attack strategy on Mrs. Clinton “twisting previously known facts into absurd conspiracy theories,” and he said “it will not be the first work of partisan-fueled fiction about the Clintons’ record, and we know it will not be the last.”

The timing is problematic for Mrs. Clinton as she begins a campaign to position herself as a “champion for everyday Americans.”

From 2001 to 2012, the Clintons’ income was at least $136.5 million, Mr. Schweizer writes, using a figure previously reported in The Post. “During Hillary’s years of public service, the Clintons have conducted or facilitated hundreds of large transactions” with foreign governments and individuals, he writes. “Some of these transactions have put millions in their own pockets.”

The Clinton Foundation has come under scrutiny for accepting foreign donations while Mrs. Clinton served as secretary of state. Last week, the foundation revised its policy to allow donations from countries like Germany, Canada, the Netherlands and Britain but prohibit giving by other nations in the Middle East.

Mr. Schweizer’s book will be released the same day former President Bill Clinton and the Clintons’ daughter, Chelsea, will host the Clinton Global Initiative gathering with donors in Morocco, the culmination of a foundation trip to several African nations. (A chapter in the book is titled “Warlord Economics: The Clintons Do Africa.”)

There is a robust market for books critical of the Clintons. The thinly sourced “Blood Feud,” by Mr. Klein, at one point overtook Mrs. Clinton’s memoir “Hard Choices” on the best-seller list.

But whether Mr. Schweizer’s book can deliver the same sales is not clear. He writes mainly in the voice of a neutral journalist and meticulously documents his sources, including tax records and government documents, while leaving little doubt about his view of the Clintons.

His reporting largely focuses on payments made to Mr. Clinton for speeches, which increased while his wife served as secretary of state, writing that “of the 13 Clinton speeches that fetched $500,000 or more, only two occurred during the years his wife was not secretary of state.”

In 2011, Mr. Clinton made $13.3 million in speaking fees for 54 speeches, the majority of which were made overseas, the author writes.

*** Now the questions that need to be asked include what policies did the State Department, the NSC and the White House take covertly with regard to diplomacy and those affects on strategies.

Resettlement of Somalis in America, Threat Matrix

Refugee resettlement into the United States where the U.S. State Department in coordination with the United Nations has brought terror recruiting to our homeland. Arrests occur weekly of those that either have traveled to Iraq and or Syria, trained and have returned or are part of a peer to peer process to attack soft targets in America. Each mayor, each governor must demand a stop to this program. Is it happening in a town in which you live? Likely yes. 190 towns across America are targeted locations for resettlement.

In case you have any questions on the matter of ‘Refugee Resettlement’ click here to listen to the facts.

Just this past February in Minneapolis:

Assistant Attorney General for National Security John P. Carlin and U.S. Attorney Andrew M. Luger for the District of Minnesota announced today the indictment of Hamza Naj Ahmed, 19, for conspiring to provide material support to the Islamic State of Iraq and the Levant (ISIL).  Ahmed is also charged with attempting to provide material support to ISIL and for making a false statement in a terrorism investigation.  Ahmed was previously charged by criminal complaint for lying to FBI agents.  The defendant was detained on Feb. 5, 2015, after making an initial appearance before Magistrate Judge Steven Rau in U.S. District Court in St. Paul, Minnesota.

“Hamza Ahmed is at least the fourth person from the Twin Cities charged as a result of an ongoing investigation into individuals who have traveled or are attempting to travel to Syria in order to join a foreign terrorist organization,” said U.S. Attorney Luger. “Since 2007, dozens of people from the Twin Cities have traveled or attempted to travel overseas in support of terror. While my office will continue to prosecute those who attempt to provide material support to ISIL or any other terrorist organization, we remain committed to working with dedicated community members to bring this cycle to an end.”

The photos above were taken in Minneapolis.

 

FBI Arrests 6 People In 2 States In Terrorism Investigation

The FBI made a string of arrests Sunday, taking a total of six people into custody in Minneapolis and San Diego in a terrorism joint task force operation. The arrests follow an inquiry into young people from the Twin Cities area who have joined terrorist groups such as ISIS and al-Shabab.

Details about the case are still emerging. A spokesman for the U.S. Attorney’s Minnesota office has confirmed the arrests to several media outlets, saying that public safety was not under an immediate threat. So far, it seems that all of those arrested are young men whose families are originally from Somalia.

A news briefing about the arrests is scheduled for Monday morning; we’ll update this post with news.

From Minnesota Public Radio:

“A Somali woman who said she was the mother of two men who were arrested told MPR News that the FBI arrived at her house around noon. One of her sons was arrested at her house; the other was arrested in San Diego.

“She said more than a dozen FBI and police officers searched her house and confiscated a tablet computer owned by the son arrested in San Diego.”

That woman met with other parents whose sons were arrested Sunday; they’re part of a large Somali community in Minneapolis. ***

“We have a terror recruiting problem in Minnesota,” US Attorney for Minnesota Andrew Luger said during the press conference.

“As described in the criminal complaint, these men worked over the course of the last 10 months to join ISIL,” said Luger. “Even when their co-conspirators were caught and charged, they continued to seek new and creative ways to leave Minnesota to fight for a terror group. ”

According to the FBI, authorities on Sunday arrested Zacharia Yusuf Abdurahman, Adnan Farah, Hanad Mustafe Musse and Guled Ali Omar in Minneapolis, and Abdirahman Yasin Daud and Mohamed Abdihamid Farah were arrested in California after driving from Minneapolis to San Diego. All the accused are between the ages of 19 and 21.