FATF Crashes Stock Market again!

Nothing to see here folks...

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

Ignore it and it'll go away...

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.

Brazilian blog

LP Migration Plank v. Constitution

Jon Roland of Austin, Texas runs a blog on the Constitution. This entry explains why the LP had better restore the Migration plank to what it said in 2016, when it brought us 4 million votes–before it was disfigured into repellent absurdity.

2019/02/16

Constitution authorizes declarations of emergency

The U.S. Constitution states:

[Congress shall]  provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions; Art I Sec. 8.

Section. 2. The President shall be Commander in Chief of the Army and Navy of the United States, and of the Militia of the several States, when called into the actual Service of the United States;
This last clause is key. The President has authority to call up the militia, and call-ups of militia are for emergencies, not to do the job of the regular military, which is provided for elsewhere. So to call up the militia is to declare an emergency.

So can the President declare an emergency without calling up the militia? All U.S. citizens, including government employees and contractors, are militia. Directing them to reallocate funds for defense is to act within that power. No special statutory authority is needed.

So are entries into the U.S. without consent an invasion? Yes.  Any such trespass is an offense against the law of nations, which Congress has the power to define and punish. They have done that, although first-time simple entry is merely a “deportable offense”, a kind of misdemeanor. However, reentry after having been deported is a felony.

It does not need to be an armed force to be an invasion. A child chasing a butterfly across the border is an invader. It also doesn’t matter whether the invaders are, or can be expected to be, criminals. Peaceful people seeking work are also invaders, if they enter without consent.

So is the situation on the southern border an emergency? If it were only a few a day, no. But thousands flooding the border, faster than they can be managed, is an emergency.

Does it matter that the thousands are seeking asylum? No. U.S. law only recognizes political asylum, not economic asylum. Most of those  thousands are economic refugees. If they are fleeing criminals or corrupt officials, then they have the duty to fight in their own countries, not in ours.

What is the President’s alternative? He could station troops along the border with orders to repel invaders with deadly force. He could erect gun turrets every few hundred yards. That would be more expensive than a wall. Do opponents of a wall really want invaders to be repelled by automatic weapons? Democrats would not get many votes from those.

Jon blogs at constitutionalism.blogspot.com

The Constitution once made Beer a felony, enforcement as which collapsed the economy. Get the complete story in Prohibition and The Crash on Amazon Kindle in two languages

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Prohibition and The Crash, on Amazon Kindle

I also produce books and articles in Portuguese, using Brazilian historical sources at http://www.expatriotas.blogspot.com or amigra.us

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Sullum’s Drug Debate

Hippies, Blacks, Mexicans--murder them all!

Killing is the whole point of sending men with guns to kick down doors, fire on vessels and riddle automobiles with bullet-holes!

Watching Nick Sarwark get bushwhacked by the debating tactics of a libertarian-impersonating anarchist made for a sense of foreboding over Jacob Sullum debating a prohibitionist. The opening argument–that violent narcs murder and maim people–could have been copied from the 46-year-old news clipping above. (link) Sullum recited almost identical stories of brutal mayhem against bystanders and even brought up the deliberate mass-poisoning of populations by adding wood alcohol to ethanol–of which practice God’s Own Prohibitionist (a novelist and pseudoscience hack) feigned ignorance, even surprise. Continue reading

Economic Collapse, July 1930

Prohibition caused Depression

Chicago Tribune 17NOV1930

The stock market crash of 1929 marked the realization that prohibition laws would soon destroy the US economy and banking system. By mid-1930, financial collapse was so well underway that the old prohibition enforcement districts were redrawn to conform closely to existing Federal Reserve districts. This change took effect on July 1, 1930, the month Cook County Assessor Gene G. Oliver was convicted of tax evasion and sentenced to 18 months in prison and fined $12,500 by Judge Woodward in Chicago.

Here is a breakdown of the districts.

The transfer of the prohibition enforcement activity from the Treasury Department to the Department of Justice under the Williamson Act took place on July 1, 1930, under the Bureau of Industrial Alcohol in the Treasury Department, retained the duty of issuing permits for the manufacture and use of alcohol and other intoxicating liquor for non-beverage purposes, and of supervising the activities of the permitees.  The 27 prohibition districts hitherto existing were rearranged into 12 new districts, with boundaries corresponding in some measure with the 10 judicial circuits.  (Misdirection! The new prohibition districts were a nearly perfect fit to the Federal Reserve Districts–tr)

1. Boston: Maine, N. Hampshire, Vermont, Massachusetts, R. Island, Connecticut
2. New York: New York State and Porto Rico
3. Philadelphia: New Jersey; Pennsylvania, Delaware
4. Richmond: Maryland, Virginia, West Virginia, N. Carolina, South Carolina, DC.
5. New Orleans: Alabama, Georgia, Florida, Louisiana, Mississippi, Texas.
6. Cincinnati: Michigan, Ohio, Kentucky, Tennessee
7. Chicago: Illinois, Indiana, Wisconsin.
8. St. Paul: Minnesota, N. Dakota, S. Dakota, Iowa, Nebraska.
9. Kansas City: Arkansas, Kansas, Missouri, Oklahoma.
10. Denver: Arizona, Colorado, N. Mexico, Utah, Wyoming.
11. San Francisco: California, Nevada, Hawaii.
12. Seattle: Idaho, Montana, Oregon, Washington, Alaska.
Source: NY World Almanac 1931 p 36

That same day, the Bank of Winter Park, Florida, closed its doors. As prohibition asset-forfeiture confiscations continued, many other banks would close. The Liberal Party, formed in 1930, published a plank in 1931 calling for the repeal of blue laws and the Prohibition Amendment. The Democratic Party copied this plank in the summer of 1932–in the middle of a major banking panic–and went on to win the election in November, plus four more.

That is an advance demonstration of the law-changing clout of libertarian party spoiler votes. By the time Franklin D. Roosevelt was sworn in as president in March of 1933, every bank in the nation had already closed its doors. After 1928, no Republican was elected until the Eisenhower-Nixon campaign brought German National Socialism to America.

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Prohibition and The Crash, on Amazon Kindle

If you are disappointed not to have learned this in school, buy a copy of Prohibition and The Crash in Amazon Kindle format. For the price of a pint, the free app lets you see month-by-month how the economy was crushed–on a cellphone.

simultaneous interpreting

Next time choose a financial and accounting translator who won’t overlook things and cause added disappointment.