We're on an Apollo 13 mission: Gen Kranz the Flight Director at the time said,"When bad things happen, we just calmly laid out all the options and failure was not one of them". Tough and competent, "we are forever accountable for what we do or fail to do. We will never take anything for granted. We will never fall short of our knowledge or our skills".
Bills, bills, bills kinda like ringing Christmas bells, what a festive way to end the year but the hour glass is not only running out of time but money to cover a spread. You can see why the U.S. 113th Congress is so divided for when it comes time to pass one of these layered cake bills the slice has nothing to do with the cake. Slick way to get crappy legislation passed and bring on even more drama that if not passed, will have to consider government shutdown.
First a look(from the horse's mouth) at how any of this hits the floor of U.S. government. Laws begin as ideas. First, a representative sponsors a bill. The bill is then assigned to a committee for study. If released by the committee, the bill is put on a calendar to be voted on, debated or amended. If the bill passes by a simple majority (218 of 435), the bill moves to the Senate. In the Senate, the bill is assigned to another committee and, if released, debated and voted on. Again, a simple majority (51 of 100) passes the bill. Finally, a conference committee made of House and Senate members works out any differences between the House and Senate versions of the bill. The resulting bill returns to the House and Senate for final approval. The Government Printing Office prints the revised bill in a process called enrolling. The President has 10 days to sign or veto the enrolled bill. (end first a look) That's our process and works well when an individuals oath to the Republic for which it stands is followed. Outside of the this is the big picture, influence through large corporations teamed up by an Army of lobbyist. Senator Elizabeth Warren (D-MA) talks about provisions tucked into the 2015 federal spending bill that would roll back some of the regulations for big banks under the five-year-old Dodd-Frank law. The spending bill was passed by the House December 11 and cleared by the Senate on December 13.
The Citi-drafted legislation will benefit five of the largest banks in the country—Citigroup, JPMorgan Chase, Goldman Sachs, Bank of America, and Wells Fargo. These financial institutions control more than 90 percent of the $700 trillion derivatives market. Most of the concern is associated with OTC derivatives and swaps, which can be used for avoidance of taxation, the outflanking prudential regulation of financial markets and the manipulation of accounting rules, credit ratings and financial reports. Frfinancialpolicy.org(excellent article, short not even a page and to the point written in 2002) Another public interest concern involves transparency. Some derivatives are traded on formal futures and options exchanges which are closely regulated. Other derivatives are traded over-the-counter (OTC) in markets that are almost entirely unregulated. In these non-transparent markets, there is very little information provided by either the private market participants or collected by government regulators. Prices and other trading information in these markets, is not readily available as is the case with futures and options exchanges. Instead, that information is hoarded by each of the market participants. While standard theories of financial markets agree that more transparent markets are more efficient, it requires a public entity to require information be reported and disseminated to the market. (end financialpolicy.org) OK, timing is everything and when it comes time for some of these contracts to expire who will be left holding the bag? One bag for sure is the price of oil ($55 today) and the natives of this over leverage derivative are scrambling. In a Keiser Report on Dec 13 episode 692 @ 11:44 timestamp Max mentions that for every dollar tied to a barrel of oil, $60,000 in directives are tied to that same barrel and that's just London! This piece of legislation is yet another warning shot across the bow and even with the backing of the FDIC on the backs of American taxpayers this still won't be enough money.
OCC’s Quarterly Reporton Bank Trading and Derivatives Activities First Quarter 2014 (table 2 below is from the pdf on page 27)
For anyone unfamiliar with the concept of state nullification, it was the idea expressed by then sitting vice president Thomas Jefferson when he authored what came to be known as theKentucky Resolutions of 1798.The resolutions made the case that the federal government is a creature of the states and that states have the authority to judge the constitutionality of the federal government’s laws and decrees. He also argued that states should refuse to enforce laws which they deem unconstitutional. Nullification carries with it the force of the state or local law. It cannot be legally repealed by Congress without amending the U.S. Constitution. It cannot be lawfully abolished by an executive order. It cannot be overruled by the Supreme Court if the people in the state reject the Court’s opinion. It is the people of a state or local community asserting their rights, acting as a political society in its highest sovereign capacity. It is the moderate, middle way that wisely avoids harsh remedies like secession on the one hand and slavish, unlimited submission on the other.(Full Article)
Back in 2012, 40states petitioned to secedefrom the US Government, this proceeded by a petition to “strip the citizenship” of those who have petitioned for secession and another calling for theirdeportation.The Texas petition, for example, has more than 80,000 signatures. The original Louisiana petition has topped 30,000. Florida has also crossed the threshold. Though the numbers keep climbing, the signatures for all 40 states now total at least 533,000.
What to do:
Nullification is not secession or insurrection, but neither is it unconditional or unlimited submission. Nullification is not something that requires any decision, statement or action from any branch of the federal government. Nullification is not the result of obtaining a favorable court ruling. Nullification is not the petitioning of the federal government to start doing or to stop doing anything. Nullification doesn't depend on any federal law being repealed. Nullification does not require permission from any person or institution outside of one’s own state. Nullification is any act or set of acts, which has as its end result, a particular federal law being rendered null and void, or just plain unenforceable in your area. OK this is a drastic situation for the population of America as a whole have had enough of our government and most countries around the world hate The United States, hell I did not create this hatred nor did any other good citizen of America. This documentary you're about to watch covers just what can we do and what is already being done. The word NULLIFICATION is a very powerful word in The United States Constitution. Take the time to watch this documentary, this is a revolution that has begun without guns for it's a war fought by suits and briefcases trying to change The Constitution.
Nothing in the Constitution requires a state to help the feds violate your rights. The new NSA data center in Utah requires 1.7 million gallons of water every single day to operate. Billions of 4th Amendment violations require massive supercomputers and the water to cool them. Take these steps to support the4th Amendmentin your state and push back against NSA Spying. Nullification can create a meltdown. News4All
WASHINGTON (AP) — The U.S. government said Monday it will show a profit of more than $12 billion from its $182 billion bailout of AIG after selling a big chunk of its shares in the insurer. The Treasury Department announced the sale of almost 554 million American International Group Inc. shares at $32.50 apiece, netting the government about $18 billion. The sale reduces the government's stake in AIG to under 22 percent from about 53 percent. That puts its holdings in the insurer below a majority stake for the first time since the 2008 bailout. It will also mean that the $182.3 billion bailout has been fully recovered, and then some. The Treasury Department said it and the Federal Reserve have recovered $194.7 billion so far. "To stabilize and then restructure the company with a very substantial positive gain for the American taxpayer is a significant accomplishment, but we need to continue the critical task of implementing Wall Street reform so that the American economy is never put in this position again," Treasury Secretary Tim Geithner said in a statement. AIG, which is based in New York, nearly collapsed at the height of the financial crisis in 2008. As the housing market crumbled, it suffered crippling losses from exotic financial instruments based on mortgage securities. Its bailout was the biggest of the Wall Street rescue packages. If there is more demand for the latest stock sale, underwriters have a 30-day option to buy up to $2.7 billion more of the government's stake in AIG. If the option is fully exercised, the government's stake in AIG would drop to 16 percent. AIG said it's buying back $5 billion worth of the stock. Its shares closed Monday at $33.30, slipping 69 cents, or 2 percent. 52-Wk High 35.36 52-Wk Low 19.18 TheStreetTV
Jack a true Businessman
Wealth is the abundance of valuable resources or material possessions or the control of such assets. The word wealth is derived from the old English wela, (well) which is from an Indo-European word stem. An individual, community and region or country that possesses an abundance of such possessions or resources is known as wealthy. Business as usual: SuperEd86
