Biden, Asset Forfeiture, Crash

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Biden’s 1986 prohibition fanaticism helped crash the economy in 1987

September 30, 1986 CONGRESSIONAL RECORD – SENATE S 14289

Mr. BIDEN:… On the supply side, this package provides for stronger new penalties for most drug-related crimes, including mandatory minimum penalties for the kingpins of the drug syndicates and for those who sell their poisons to our children. In addition, this package contains provisions aimed at striking at the financial underpinnings of organized crime and drug trafficking syndicates, through the use of forfeiture of substitute assets provisions and a new crime against money laundering, both of which will assist law enforcement agencies in seizing the proceeds of drug traffickers.

Finally, in regards to domestic law enforcement, $115 million is provided to directly assist State and local law enforcement agencies for drug law enforcement. Most of the fight against drug traffickers is waged, not by the federal government, but by State and local agencies who are all-to-often out manned and out gunned by the drug dealers and smugglers. These moneys will provide desperately needed funds to such agencies to assist in their efforts.

In addition to combating drug trafficking in the streets of our cities and communities, we must also stem the flow of drugs across our borders. This bill increases by one-third the current level of funding for interdiction at the border, including additional personnel and equipment for the Coast Guard and the Customs Service. Moreover, this bill assigns Coast Guard law enforcement teams to Navy ships to bring the Department of Defense more actively into the fight against drug trafficking.

This legislation also provides for supply reduction efforts on the international side of the drug control equation. Almost $75 million is provided for additional crop eradication and substitution programs, including funds for operations like that conducted recently in Bolivia, where the cocaine processing networks have been significantly disrupted.

In addition, this legislation revamps present law governing foreign assistance, favorable U.S. votes and multilateral development banks, and generalized system of preferences tariff benefits to narcotic producing and narcotic transit countries. Under these provisions, benefits will be denied all major illicit drug producing countries, unless the President certifies each year that the country is cooperating fully with the United States in combating narcotics production, trafficking, and narcotics money laundering. This combination of increased assistance and narcotics-related sanctions will provide important new incentives for drug producing countries to cooperate fully with the United States and clearly focus our foreign-policy efforts to decrease the supply and distribution of drugs and the international community. /Biden

***

This law became effective 90 days (one quarter) after it was passed. Federal financial bureaucracies define a recession as a decline in GNP over the space of two successive quarters. So this prohibitionist drug law passed and was signed by Reagan October 27, 1986 and only after another three quarters, on August 27, 1987, would any federal notice be taken of its prompt economic effect.

The Federal Reserve Board met August 18, 1987 and on August 22 Dow Jones Industrials stood at 2700 (up 40%, with commercial real estate a froth–according to Greenspan). On September 10, 1987, came Reagan’s White House Conference for a Drug-Free America, and the following day all VA employees had to take drug tests or be fired. Less than two weeks later, NYT headlines blared: BIDEN BLAMES FAULTY MEMORY FOR STATEMENTS.

Confiscatory prohibitionist fanaticism will do it every time!

On Friday, October 16, 1987, the Dow Jones average dropped 108 points. On October 19, 1987, Black Monday, in 6 hours the Dow Jones Industrial Average of 30 Blue Chip Stocks fell 508 points (23%). This, 33 years ago, was a larger loss than on Black Friday in 1929.

Hearings were held October 27, 1987 on Federal Anti-Drug Abuse Policies featuring Audits and Coast Guard personnel. The previous day the DJIA fell another 8%. These events are similar to what happened in 1929 when beer, not cocaine, was the addictive narcotic. The George Waffen Bush crash in 2008 also occurred in a frenzy of prohibitionist asset forfeiture. Buy my book, Prohibition and The Crash and get the inside story on how confiscation weakens a fractional reserve banking system.

This is your 12th chance to vote Libertarian or sanction additional coercion. Which will it be? 

Make your vote MATTER for a change!

She’s with Us!

Brazilian Sci-fi from 1926 featuring the usual beautiful daughter of a scientist touting prohibition and racial collectivism in America’s Black President 2228 by Monteiro Lobato, translated by J Henry Phillips (link)

Find out the juicy details behind the mother of all economic collapses. Prohibition and The Crash–Cause and Effect in 1929 is available in two languages on Amazon Kindle, each at the cost of a pint of craft beer.

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The Looter Kleptocracy has evidently pressured media companies such as WordPress to make blogging as difficult as possible before the election. Twelve million libertarian votes would go a long way toward removing new impediments to blogging and restoring the usual formatting tools.

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Prohibition and spoiler votes

US v Sullivan, 1927, income tax looting causes slow, steady withdrawals

Prohibition–the constitutional product of the shotgun wedding of fanatical mysticism, socialist controls and eugenics theories–became reality and a nightmare all at once on the night of January 16th, 1920. Socialist candidate Eugene Debs got nearly a million votes in the showdown between the Dems (who got us into WW1) and God’s Own Prohibitionists (who insisted we stay in the War on Beer). Why? Because in 1916 Debs had said “There is too much prohibition.” 

Germany exported heroin and had U.S. plants in the 1920s

When the economy collapsed after 6 months of wartime prohibition plus 1 month of Constitutional prohibition, membership in communist organizations promptly doubled. But the Kleptocracy ignored reality in 1920-1923. Prosecutor Willebrandt didn’t, and got the Supreme Court to squelch the 4th and 5th Amendments and declare evidence from tax returns admissible for prohibition and evasion liability in mid-May of 1927. German stocks immediately went sour. Neither entrenched party published a repeal or modification plank, and in 1928, Dry Hope Hoover beat Whiskey Al Smith 5 to 1. The small looter parties were obviously no help to freedom–their platforms called for coercion. 

The Increased Penalties Act foisted onto Hoover destroyed the economy when ex-prosecutor Willebrandt (yes, the same lady) explained in over 20 nationally syndicated papers how income tax asset forfeiture would be used to enforce Prohibition laws. Federal Reserve bank balances also began dropping as soon as Willebrandt got the Supreme Court to scrap the Bill of Rights and use the income tax–copied from Karl’s Manifesto of 1848–to enforce prohibition. 

No surprise here. The addition of that same communist manifesto plank to a tariff bill in 1894–in violation of the Constitutional prohibition of capitation taxes–so completely destroyed the economy that the Supreme Court had to strike it down the following year in order to have banks at which to cash their own paychecks. When was the last time you saw or hear tell of this partially concealed newspaper story?

Druggan, Lake Indicted by U.S. as Tax Dodgers 14MAR1928–Markets panic

Moreover, the income-tax-as-bludgeon decision in US v Sullivan immediately coincided with a German bourse crash, while French stock exchanges also began falling for years to come. Markets went haywire when Druggan and Lake were grabbed by Internal Revenuers mid-March, 1928. The Liberal Party formed in 1930, drew up a wet plank which the Dems accepted with tears of gratitude, then won five consecutive elections while battling the National Socialist government Hoover’s 1931 Moratorium foisted onto Germany.

The outcome of that election was FDR beat Dry Hope Hoover 11 to 1, but the collapsing economy–officially unexplained–had opened the floodgates increasing communist party growth in These United States by a factor of ten by the time Ayn Rand formulated the Non-Aggression Agreement. 

Only by keeping the American people confused about Prohibition and The Crash have the subsidized media managed to keep voters mesmerized by subsidized Republicans who deny being fascist and subsidized Democrats who deny being communist. Then again, that’s what the Nixon law of 1971 pays them to do. Understanding how these looters wreck your retirement savings, then voting Libertarian to let them know the jig is up; that’s the road to recovery. Doing the right thing–using your leveraged LP spoiler vote to change bad laws–is winning. It’s your decision. 

Find out the juicy details behind the mother of all economic collapses. Prohibition and The Crash–Cause and Effect in 1929 is available in two languages on Amazon Kindle, each at the cost of a pint of craft beer.

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FATF Crashes Stock Market again!

This happened during FATF week in Paris: an orgy of international asset-forfeiture plunder planning! (Source: S&P 500)

The market began wobbling February 16, then crashed violently on February 20, the day the Communist News Network began screeching and wailing about a not-really communist virus outbreak near a germ lab. So what else was happening on those days in places like… Paris? Here’s a taste: 

“FATF Week, 16-21 February 2020. On Sunday 16 February, more than 800 representatives from 205 countries and jurisdictions around the world, the IMF, UN, World Bank and other organisations, will arrive for FATF Week in Paris, France…”(link)

So what is FATF? It is the Harry Anslinger-Herbert Hoover-Richard Nixon-Bush-Bush asset-forfeiture Crash and Great Depression machine. Remember Milton Friedman in Free to Choose? In a fractional-reserve banking system, the money you deposit exists in several places as the clearing-houses compensate the instruments of money transfer. Finally it is loaned out at interest, so a lot of it is no longer at the bank.

So when federal agents with guns and blanket John Doe or Unnamed Asset warrants shove their way inside to grab cash and securities, other depositors can see the liquidity crunch coming and withdraw their assets. This reverses the leveraging of assets which–absent tax and prohibition raids–increases the money supply. The reversing result is mass bankruptcies and devaluation of assets.

Here’s what went on in Paris just before the crash: (link) Sound farfetched? Read their glossary: 

The term confiscation, which includes forfeiture where applicable, means the permanent deprivation of funds or other assets by order of a competent authority or a court. Confiscation or forfeiture takes place through a judicial or administrative procedure that transfers the ownership of specified funds or other assets to be transferred to the State. In this case, the person(s) or entity(ies) that held an interest in the specified funds or other assets at the time of the confiscation or forfeiture loses all rights, in principle, to the confiscated or forfeited funds or other assets. 

FATF was formed as soon as the Reagan-Bush-Biden prohibitionist asset-forfeiture crash deepened into a really bad recession with stock losses and unemployment. They admit this: 

The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The mandate of the FATF is to set standards and to promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and the financing of proliferation, and other related threats to the integrity of the international financial system. In collaboration with other international stakeholders, the FATF also works to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse.

Pretty shadowy and swampy, huh? And if this thing does wreck economies, who can be held accountable? Who would admit the obvious facts? How would you claim damages?

This sort of thing also happened in 1907, mainly due to new federal regulation of food & drugs and State bans on Beelzebubba’s Beer and The Demon Rum. It happened again in 1921, but was covered up by nullification, then returned with a vengeance in 1929, after Mabel Willebrandt explained, that August, what was going on on “The Inside of Prohibition,” in 20 national papers. Accelerating stock depreciation set in and investors dumped assets…

The banking panics of the Great Depression kept pace with federal indictments of yeast and glucose companies and confiscation of assets plus heavy fines measured in pounds of gold bullion–while the Coast Guard and Customs seized huge shipments of heroin that was steadily replacing beer. The federal government feigns bovine incomprehension of all this causality. 

Government spin-doctors also disavow any knowledge that the Reagan-Bush-Biden asset-forfeiture craze of 1987 had anything to do with that recession, and play dumb in sworn testimony and thick reports on the Flash Crashes. Here’s the latest one, with “market crash”, “financial collapse”, and “economic recession” nowhere to be seen.(link) Here’s a foretaste of Knife-Your-Customer snitching: 

A. CUSTOMER DUE DILIGENCE AND TIPPING-OFF.
1. If, during the establishment or course of the customer relationship, or when conducting occasional transactions, a financial institution suspects that transactions relate to money laundering or terrorist financing, then the institution should:
  (a) normally seek to identify and verify the identity of the customer and the beneficial owner, whether permanent or occasional, and irrespective of any exemption or any designated threshold that might otherwise apply; and
  (b) make a suspicious transaction report (STR) to the financial intelligence unit (FIU), in accordance with Recommendation 20.
2. Recommendation 21 prohibits financial institutions, their directors, officers and employees from disclosing the fact that an STR or related information is being reported to the FIU. A risk exists that customers could be unintentionally tipped off when the financial institution is seeking to perform its customer due diligence (CDD) obligations in these circumstances. The customer’s awareness of a possible STR or investigation could compromise future efforts to investigate the suspected money laundering or terrorist financing operation.
3. Therefore, if financial institutions form a suspicion that transactions relate to money laundering or terrorist financing, they should take into account the risk of tipping-off when performing the CDD process. If the institution reasonably believes that performing the CDD process will tip-off the customer or potential customer, it may choose not to pursue that process, and should file an STR. Institutions should ensure that their employees are aware of, and sensitive to, these issues when conducting CDD. 

Nice friendly stuff, eh? But hey, what’s another global economic crash compared with a convenient flu outbreak generating fewer fatalities than U.S. auto accidents for the same timeframe? This coming recession could easily eliminate the memory loss that sets in after each new crash and depression is explained away. Libertarian candidates could explain to voters what happens time after time, and I’ll lay odds someone will listen. 

FATF Bush Crash, Obama Dems win 8 years. FATF Trump-Biden Crash?? (link)

Find out the juicy details behind the mother of all economic collapses. Prohibition and The Crash–Cause and Effect in 1929 is available in two languages on Amazon Kindle, each at the cost of a pint of craft beer.

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