Category Archives: Treasury

Senator Daines vs. Socialism

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Resolution_draft by Fox News on Scribd

In his prepared remarks introducing the resolution, obtained by Fox News, Daines criticized the Green New Deal and “Medicare-for-all” — as well as the increase in partisanship on Capitol Hill. Less than an hour earlier, Senate Majority Leader Mitch McConnell, R-Ky., similarly condemned “hyperventilating hacks” seeking to sow division, rather than make policy.

Daines Stumps For Gorsuch, Spars With Protesters At ...

“We are at a pivotal time in our great nation’s history,” Daines said. “We have shown the world time and time again the genius of American ingenuity and the grit of American determination. However, a radical, socialist, far-left movement is growing across this country. And it has taken root as the new voice of the Democratic Party.”

*** A hat tip to the Senator for his position on America vs. Democrats, Socialism and all things related to the Green New Deal. There is also Medicare for All, free college tuition and even paying criminals to behave.

Does this resolution go far enough? Not really, but it is a start. There should be legislation and eventually law that states socialism is forbidden in the United States. It is wishful thinking however, because our Federal government is slammed full with socialist programs that we can never undo.

All things government healthcare like Obamacare is socialism, Social Security is of course socialism, block grants, community reinvestment act and so many more fit the definition of socialism as do the countless entitlement programs.

You can however begin the challenge on yet another item that you personally pay each month. Have you checked your utility bills lately and looked at all those weird fees? Same thing with your cell phone bill. The cable bill too? Yes.

There is corporate socialism too, bailouts and subsidies…yes…all socialism. This is forced socialism with no oversight. That means no one is accountable, no one measures success, no one measures if the money really goes where it is supposed to go.

Places like Portland, Seattle, Chicago, New York, San Francisco, Los Angeles, Baltimore and other major cities all have a major homeless program where tax money is earmarked to address that crisis. For instance, California voted in March to approve a quarter-cent sales tax increase to help the homeless. It is expected to raise $355 million each year for a ten year period. That said, do California officials and residents really believe the homeless problem will go away in ten years? Really?

As long as Baltimore is in the news, thousands of residents in the inner city get a lead check along with living in Section 8 housing and getting food stamps. What is a lead check you ask?

Well our Congress voted in the 1990’s to create a slush fund to eradicate lead (paint) from homes and buildings constructed before 1977. By now, all that lead should be gone right? Nah..residents in Baltimore and other major cities get a monthly lead check as they choose to live in row houses allegedly still containing peeling lead paint. This whole scam was coordinated by several federal agencies including Housing and Urban Development, the EPA and Health and Human Services.

Socialism is a constant cancer, of which the ends we will never see but we can stop some of it at least by challenging those pesky fees in your power bill, the cable bill or your cell phone bill.

Anyway….hat tip again to the Senator.

 

 

Meet the United Front Work Department

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The U.S. should perhaps scrapping any trade deal with China. Why?

Just this week, the United States Navy and Taiwanese authorities sailed through the Taiwan Strait. China threatened use of force to thwart any U.S. move over the partnership with Taiwan. So, the U.S. just tested that.

As an aside, the United States just approved a major sale of weapons requested by Taiwan totaling $2.2 billion. This is actually in compliance with U.S. law where we are to provide Taiwan with sufficient equipment and services for self-defense.

As part of the U.S. 7th Fleet, a guided missile cruiser transited the route continuing efforts to keep free and open the Indo-Pacific. President Trump is defying China and should actually as we dont respond to threats of war all while the White House National Security advisor John Bolton is in S. Korea. China continues to push the One China principle so as not to harm relations. Meanwhile, China has a robust active measures operation going on in Washington DC. So read on.

China’s Communist Party is intensifying covert influence operations in the United States that include funding Washington think tanks and coercing Chinese Americans, according to a congressional commission report.

The influence operations are conducted by the United Front Work Department, a Central Committee organ that employs tens of thousands of operatives who seek to use both overt and covert operations to promote Communist Party policies.

Johns Hopkins School of Advance International Studies, a major foreign policy education and analysis institute, has received funding from Tung Chee-hwa, a vice chairman of the Chinese People’s Political Consultative Conference, the party group that directs the United Front Work Department and includes a member of the Politburo Standing Committee, the collective dictatorship that rules China.

The funding for Johns Hopkins came from Tung’s non-profit group in Hong Kong, the China-U.S. Exchange Foundation, which is a registered Chinese agent.

In addition to Johns Hopkins, other think tanks linked to China and influential in American policy circles include the Brookings Institution, Atlantic Council, Center for American Progress, EastWest Institute, Carter Center, and the Carnegie Endowment for International Peace.

The Exchange Foundation is tied to Chinese government influence operations and uses the same public relations firm as the Chinese embassy. More here.

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President Xi views United Front work as an important tool to strengthen support for the CCP both inside and outside China by exploiting individuals’ emotional and ideological sympathies for China and providing financial support to key groups and individuals.24 Although the importance of United Front work declined after the founding of the People’s Republic of China,* a number of Western analysts agree it has regained its prominence since then, and especially since the rise of Xi Jinping, as Beijing has embraced a much more assertive approach to foreign policy.25In his address to the 19th National Congress of the CCP† in October 2017, President Xi called United Front work“an important way to ensure the success of the [Chinese Communist] Party’s cause” and urged the CCP to form the “broadest possible patriotic United Front.”26 President Xi has also called United Front work a “magic weapon” that is important for bringing about “the great rejuvenation of the Chinese nation.”

Several pieces of U.S. legislation in 2018 have included important provisions for countering CCP and other malign foreign influence.‡ Representative Joe Wilson (R-SC) and Senators Rubio and Tom Cotton (R-AK) introduced legislation in March 2018, titled the Foreign Influence Transparency Act, which would require organizations that promote the political agendas of foreign governments to register as foreign agents§ and would require universities to disclose certain donations and gifts from foreign sources.127 Senator Ted Cruz (R-TX) introduced the Stop Higher U.S.-China Economic and Security Review Commission 15Education Espionage and Theft Act in May 2018, which is intended to strengthen the U.S. government’s ability to counter foreign intelligence organizations working inside the U.S. educational system.128 Senator Rubio and his Congressional-Executive Commission on China co-chair Representative Chris Smith (R-NJ), along with co-sponsors, introduced companion bills in the Senate and House in June 2018 calling for the establishment of an interagency task force to compile an unclassified report on CCP influence operations targeting the United States and certain U.S. allies.129 Most significantly, the National Defense Authorization Act for 2019 contains important provisions to coordinate the U.S. government response to malign foreign influence operations and campaigns—including specifically by China.* Read in full here.

DoJ Anti-Trust Case Advancing v. Social Tech Companies

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The Department of Justice is preparing to open a broad probe into whether Amazon, Facebook, and other big tech companies are illegally harming their competitors, the department said in a press release on

The investigation is the latest antitrust probe looking into “Big Tech” and is separate from the potential investigations into Amazon, Apple, Facebook, and Alphabet that are reportedly being brought up against them by the DOJ and FTC.

Watch the FAANG stocks.

What are FAANG Stocks?

Facebook (FB), Amazon (AMZN), Apple (AAPL), Netflix (NFLX), and Alphabet (GOOG) are the five technology giants trading publicly in the market. Investors grouped these companies into one acronym to capture the collective impact that these companies have on the markets.

The Big FAANG Theory: 5 Reasons To Stop Dancing With Your Favorite Big 5 | Seeking Alpha

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In the case of Big Tech and Anti-Trust, the issue is to protect competition and ensure benefits to the consumer. There are at least 3 Anti-Trust laws under consideration for the Department of Justice to pursue a case or cases against big tech.

  • The Sherman Antitrust Act
  • The Clayton Act
  • The Federal Trade Commission Act

The Sherman Antitrust Act since 1890 stands to protect a free market economy and outlaws contracts, combinations or price fixing. In short, it is a crime to monopolize.

The Clayton Act is a civil statue that prohibits mergers or acquisition that harm competition.

The Federal Trade Commission Act prohibits unfair interstate methods of commerce that include false testimony to Federal agencies, mail or wire fraud and obstruction of justice.

These Acts in composition prevent corporate cartel action in a free market system. Previous cases have included telecom companies like AT&T, Proctor and Gamble and Roche Holding, a Swiss pharmaceutical company.

The DoJ has been reviewing all things big tech for a while so just a simple review has already happened. Digital platforms are not responsive to consumer demands when it comes to privacy, access to small business and entrepreneurs and retail operations.

Congress has proposed regulation and even Facebook’s Mark Zuckerberg admitted he was open to oversight or regulation in congressional testimony. So far, big tech has not addressed the concerns of users including possible corruption, censor algorithms or slanted search results.

Users have lost trust but have little choices for other platforms that offer better free enterprise usage. Is this now a discussion and investigation on consumer welfare and protection? Yes. This comes down to an congested intersection of corporations, terms of use, subjective results, narrow competition ranges and innovation all under the guise of power and money.

There is market domination and the little guy is sideline or bought out causing harm to innovation and user expectations.

Wray’s Senate Testimony on China

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Two significant items that prove Chinese espionage activities in the United States: a) Chinese Talent Plan b) Corporate Party Cells

This website has published several articles regarding the Chinese propaganda operation in the U.S. public school system and up to and including the university level.

As part of the Chinese mission to steal intellectual property beyond the insertion of censorship, culture and propaganda, China has at least two other successful objectives, the talent plan and the party cells.

China’s New Talent Policy: Objectives and Opportunities ...

A 5 page summary document on the talent plan is found here.

(U) Chinese Talent Programs are a vital part of Chinese industry. Talent programs recruit experts to fill technical jobs that drive innovation and growth in China’s economy. National, provincial, and municipal talent recruitment programs provide opportunities for experts to work in industry and academic organizations supporting key areas deemed critical to China’s development. The talent programs recruit experts globally from businesses, industry, and universities with multiple incentives to work in China. Associating with these talent programs is legal and breaks no laws; however, individuals who agree to the Chinese terms must understand what is and is not legal under US law when sharing information. A simple download of intellectual property (IP) or proprietary information has the potential to become criminal activity.

(U//FOUO) The large number of foreign students, researchers, scientists, and professionals in the United States, combined with current technological capabilities, allows foreign governments to contact and recruit individuals with the hopes to acquire advanced technology without research costs. While the majority of the population are law abiding individuals, anyone has the capability to acquire information. The theft of information can come from current or former employees, business partners, consultants, contractors, temporary hires, foreign agents, suppliers, or even vendors who have access to proprietary information. Read on here.

Per the applied website:

China initiated “the Recruitment Program of Global Experts” (known as “the Thousand Talents Plan”) since the end of 2008, under which it would bring in overseas top talents to China over the next five to ten years. Relying upon National Key Innovation Projects, National Key Disciplines and National Key Laboratories, central SOEs and state-owned commercial and financial institutions, and various industrial parks( mainly the high-tech development zones), this plan called for strategic scientists or leading talents who can make breakthroughs in key technologies or can enhance China’s high-tech industries and emerging disciplines.

By the end of May 2014,more than 4180 overseas high-level talents have been introduced in “1000 Talent Plan” by 10 times. When they go (back) to China, they are playing a positive role in the scientific innovation, technological breakthrough, discipline construction, talent training and hi-tech industry development, as an important force in the construction of the innovative country.

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May Day Story: Chinese Government’s Communist ‘Party Cells ...

As for the Party cells, China, Inc. meaning all Chinese corporations/businesses are to have a department or cell within the company that is a mobilized team ensuring all business activities and employees adhere to the Communist Party mandates.

In November, at the most important Communist Party meeting, which takes place every five years, Mr. Xi called on officials to strengthen the party in “government, the military, society and schools, north, south, east and west.” The message was quick to reach party members lower down in the ranks.

Soon after Mr. Xi’s speech, party officials in the central province of Hunan issued a notice to members instructing them to write the party into legal documents for private and state-owned companies alike. The document was accidentally made public when a local state-owned newspaper published it, but it was quickly taken down.

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In July, executives from more than a dozen top European companies in China met in Beijing to discuss their concerns about the growing role of the party in their local operations, Reuters reported.

One senior executive whose company was represented at the meeting told Reuters some firms were under “political pressure” to revise terms of their joint ventures with state-owned partners to allow the party the final say over business operations and investment decisions.

The business component with the party cells is quite important to consider when there is Chinese investment in the United States. When it comes to foreign applications, the U.S. Treasury may need to alter the approval process for all things China inside the United States given the history of theft. As for schools and business, it may be a consideration for the Chinese government to put up an export bond. Consider this is all going on as China defense industry is now the top arms maker ahead of all Western military contractors and manufacturers.

Seizing el Chapo’s Money Likely Impossible

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Senator Ted Cruz and Sasse have co-sponsored legislation to seize the bank accounts of el Chapo Guzman to pay for the wall. While this is great in theory, some of that money should go to the victims as well.

el Chapo has been sentenced to live in prison plus 30 years and he is to forfeit his vast sums of money estimated to be as high as $12 billion. C’mon, this is likely not going to happen in total but there is a possibility to find perhaps some of it. Why?

Spain Is a Paradise (for the World's Most Powerful Drug ...

Guzman’s trial highlighted the methods Guzman Loera and his organization used to transport the cartel’s multi-ton shipments of narcotics into the United States, including fishing boats, submarines, carbon fiber airplanes, trains with secret compartments and transnational underground tunnels. Once the narcotics were in the United States, they were sold to wholesale distributors in New York, Miami, Atlanta, Chicago, Arizona, Los Angeles and elsewhere. Guzman Loera then used various methods to launder billions of dollars of drug proceeds, including bulk cash smuggling from the United States to Mexico, U.S.-based insurance companies, reloadable debit cards and numerous shell companies, including a juice company and a fish flour company.

Guzman built a global empire and that included hiring expert lawyers, accountants and investors. The Federal Court of New York in 2008 proved that HSBC, JP Morgan, Wells Fargo and Bank of America were directly related to money laundering. The same court found that HSBC had laundered at least $1.1 billion from Sinaloa.

Drug cartel leaders may be uneducated in the traditional sense, but as the agents pursuing them know all too well, they are wily strategists and extremely sophisticated business people. Because their business depends on identifying and exploiting loopholes in the world’s legal and financial systems, they hire the brightest talent they can find to help them achieve their goals, and pay them extraordinarily well. Of the many money-laundering methods utilized by drug cartels, “structuring” – depositing amounts smaller than $10,000 to avoid Bank Secrecy Act (BSA) reporting regulations – is the most popular, even though it’s also the easiest form of money laundering to detect. Structuring is the most common reason Suspicious Activity Reports (SARs) are filed by banks, but it’s also the most direct way to get money into a U.S. bank account. To push the odds in their favor, drug traffickers hire a veritable army of people to deposit small amounts of cash in banks all over the country, in cities large and small. Many get caught, but to the cartels, that’s simply the cost of doing business.

One area where law enforcement and finance can help each other in the future is in identifying and recognizing evolving trends. For example, Europe is a popular place for Mexican and Colombian drug traffickers to conduct business now because there is a lack of coordination and communication between countries in the European Union that criminals are exploiting.

Recently, federal officials received word that teenagers in a small country in Central Africa called Equatorial Guinea were suddenly driving Maseratis and other expensive cars down the country’s dirt roads. Further investigation revealed that both the Sinaloa drug cartel and Colombia’s Medellin cartel are now using this small country as a trafficking gateway to Europe.

Why? Because the predominant language in Equatorial Guinea isn’t French or Portuguese – it’s Spanish. More here.

Why are the Sinaloa Cartel the World's Most Powerful ...

Once illicit money gets into the U.S. financial system, it can go anywhere, internationally and such is the issue with the Iran nuclear deal where John Kerry allowed Iran access to the American banking system. What about the Patriot Act you ask? In some cases it was finessed due to payoffs. And how about corrupt governments? Yup that too.