This is a question that the Americans should ask themselves? Because, I am wondering as a foreigner, if my Kingdom doled some funds on Jared Kushner or on Ivanka Trump’s bank-accountants. Would the Foreign policy will change because of that? That is a important paradigm shift from the Trump Administration.
Other, then being supportive of horrific migration policies towards immigrants and the ones who has liven there for generations, because it is only White America who deserves to live in the United States. The rest just living their and squatting there for time being. That is the memo the White House is sending out recently.
However, are the for rent signs on the lawn in front of the White House? Are there ads on Craigslist? Or is there unknown LLC that are in connection with the White House and delegates the newly operations from the Trump Organization abroad. As the Trump Organization and Kushner Companies continues to operate more abroad, getting loans from Qatar and Saudi Arabia. If not getting dozens upon dozens of Chinese Copyrights, while trying to build Hotels and Golf Courses all around the world.
Is this how the arrangements are done now? That you shake hands, trade-off deals with foreigners to companies in connected with the Trump Royal Family and then let-off the hook of the Nation in question. So if the need the US Army, the US Trade or lifting of sanctions, that will be softer after signing of deals with Ivanka or Jared. Because the Foreigners will deliver them a few silver coins, if their sanctions are lifted or trade of state companies get a better deal with the US; Because they gave some little money to the White House Royal Family.
The royal family, which is allowed to be revised over 40 times and as they didn’t follow procedure for their forms. Still to get security clearance and all the perks of the White House. This is happening as they are still enlarging their pockets and trading away their value at the Public Office. They are really playing high stakes with the Republic.
It is like they can buy and trade policies now, the foreign interference is evident and the change of narratives comes quickly, especially if the ones in this Trump Administration gets a pay-off. If there is need in a government agency, if the lobbyist or company needs changes of policies.
Remember pay someone off, especially pay off the Trump Family and relatives, then you get the princess and the whole kingdom. They are easily giving way, as long as the profits are returned and delivered to a random company of the Trump Organization. If it is money laundering or any other operation. As long as the Trump businesses get their cut, they don’t mind, that is what they do.
The White House is for sale, a giant haul sale and the evidence is in every story published, as the days go. I wonder how much does it cost to get them colluding with the Russians? Because surely that had a initial price. Surely, cost more than a box of crisps and a trademark in China. Peace.
Just as again this week there has been a new release of Financial Disclosure Form for President Donald J. Trump, still this is just estimates of his value, not the real-deal. That would be in a IRS Tax Returns. It is a reason why don’t surface, because the Financial Disclosure Form of 14th June 2017, is another bragging document and possible values of estates and businesses. But is not saying the real value, because how it is taxed is the real value.
Because all of the estate and values are from a possible value into a skyrocketed one, while the profits of it might be meager or decent. Therefore, a new released Financial Disclosure Form isn’t saying anything new. Other than President Trump is a coward, a little whiny bitch who cannot be transparent. Who doesn’t have the capacity or is so afraid of how he really has earned his money, that he knows it is damaging for him.
If he wasn’t afraid, if he wasn’t whiny, but was an honest businessman, we would have seen the IRS Tax-Returns in 2015 or even in 2016, but he doesn’t have the character. Even Hillary Clinton and her combined foundation with Bill Clinton, the Clinton Foundation had now troubles being open to society and disclose their earnings and profits. But Trump cannot do that because he is crooked and not honest.
I see no difference with this and what was delivered as his status as running Presidential Candidate, the ones that believes this paper is blind and has no vision. Since the various differences of value estimates are bananas. An estate cannot be either worth a million or ten million. It either is fixed to cost 1 million or cost 10 millions. Unless, the estate manager suck so much at his job that he cannot find people to give a just price for the prospect and the land it is on. So it seems like President Trump want to bloat his ego and try again to prove his wealth. That wouldn’t be surprising.
Like Trump Marks Istanbul II LLC a license deal with Ortadogu Otomotive Ticaret AS, the income amount in the paper says between $ 1,000,000 to $ 5,000,000. Because that is 4,000,000 difference of earning possibly, this is one company and it is amazing how much royalty difference and profits from this Turkish company or whatever it is. Since the Trump Organization and President Trump isn’t sincere. Since they would be straight forward with a set amount to the Internal Revenue Authority (IRS), since they don’t want to pay to much cents on the dollars of their profits. That is if they are really trying to earn monies on this company alone.
While the new Hotel in Washington D.C. the Trump Old Post Office has no difference in earnings and profits. It has a total income of $ 19,666,129 and value which is over $ 50,000,000. This means that still the agreed rent of the hotel and the total value of the property isn’t assessed, but since it has long-term rental facility, the Trump Organization doesn’t mind, secondly since it is important placed hotel they have to straight forward on the profits.
So when you have these sort of things, it is hard to believe as the steady lies and deception from the President. Someone like me, will only believe the IRS Tax Returns that isn’t being disclosed. Therefore, I cannot trust this man and his business practices, since his ways is not sincere and honest. Just like his misuse of students at Trump University and also the use of polish workers for building his Trump Tower. He has never had the ability to be truthful or use just behavior in his business practices. Peace.
Today thanks to some people leaking to Chinese Gazette documents for a serious Industrial and Commerce Authority, I today found a little scoop on the ways Trump Organization does business, as they are clearly active in China. That might be reason why one of the most mentioned nations during campaign was China from the now President Trump. Therefore, take a look at this!
On the 27th February 2017, the Trademark Office of the State Administration for Industry and Commerce of the People’s Republic of China gazetted new trademarks that prove the use of Chinese Industry in production of labels for the United States President Donald J. Trump. Still, as he claims “America First” his companies continue to produce and licence their production abroad.
The Gazette from the Chinese Authorities of Industrial and Commerce Trade Marks for dozens of Donald Trump products, alone 10 Trade Marks in his name and owned by businesses to the Fifth Avenue headquarters of the Trump Organization.
The second batch of Trump Trade Marks we’re gazetted on the 6th March 2017 was issued about 24 more Trade Marks through the authority. Since my Chinese isn’t that fluent, I don’t know on what sort of products or what industrial trade mark these are put on. Still, this shows the ways of using the cheap workforce and possible export to the United States the Trump Organization does. When I could find in the documentation with address and in the name of the Trump or where the Trump Tower is.
Therefore, the will of putting ‘America First’ is only in the words and not in action of his own businesses or trading. That is just for the citizens, not for the business and corporate world. Since Trump Organization has by these gazetted Trade Marks initially started or secured production of 24 products in the Republic of China. That cannot be seen as policy of his own government, who wants to punish other businesses for importing instead of producing their products abroad.
Certainly, the sons and daughters don’t care about the impression or even President Trump shows careless acts of tact by doing this. They are not following the same protectionist ways that he preaches and he wants to achieve. Therefore, the double standard are proven with this and how easily the Trump Organization can get licences in China, but the President expect big-business to stay in the United States. Peace.
This had to be an issue, as the Trump Organizations and businesses had to be obligated away from the Executive, the Commander-in-Chief as he ushers himself into the Presidency. The family seems to be picked to run his company, as they are already Executive Vice-President in the Cooperation, this being Eric Trump, Donald Trump Junior and Ivanka Trump. These have been behind their father, the President-Elect. This is important as the interest of Trump Organization should not be the sole purpose of the presidency, that should be as civil service and also guiding with good governance without having own personal gains by having the office. Therefore the nominees and the appointed government leaders in the Trump Organization has to go through not only sessions in the Senate before their appointments are getting accepted; as well as they have to give way to their business connection and positions in the boards in general.
That the international hotels and golf courses, the trademarked products in the portfolio of the Trump Organization that can implicate and create issues with both the foreign trade policies and also import regulations. The same can be seen in general with the regulation of banking, loans and all other fiscal regulation that can hurt the Trump Organization. Something Trump will already know before going to office, what he needs to create of legislation and what sort of economic stimulus or even economic framework that can absorb more profits on the business that are already owned by the Trump family.
Let’s take look at what a blind trust is and what sort of agreements that can happen when Trump gets into office in just days.
What is a Blind Trust?
“Blind trusts are often used when a wealthy individual is elected to a political office where his investment holdings could potentially put him in a conflict of interest with a regulatory issue or other sensitive exercise of political power. In this context, there are some obvious issues with blind trusts in that the beneficiary setting up the blind trust is at least aware of the investment mix going in and cannot realistically forget that information when weighing future decisions. The trustors may also set the rules under which the investments are managed and, of course, pick trustees that they are confident will act in a certain way in potential situations. So again, the efficacy of the blind trust in truly eliminating conflict of interest is far from proven. That said, politicians with a large amount of wealth or in high office use blind trusts to show that at least the effort is being taken to establish impartiality” (Investopedia).
Director of Government Ethics Shaub on 11th January on Blind Trust:
“I think Politico called this a “half-blind” trust, but it’s not even halfway blind. The only thing this has in common with a blind trust is the label, “trust.” His sons are still running the businesses, and, of course, he knows what he owns. His own attorney said today that he can’t “un-know” that he owns Trump tower. The same is true of his other holdings. The idea of limiting direct communication about the business is wholly inadequate. That’s not how a blind trust works. There’s not supposed to be any information at all” (…) “Here too, his attorney said something important today. She said he’ll know about a deal if he reads it in the paper or sees in on TV. That wouldn’t happen with a blind trust. In addition, the notion that there won’t be new deals doesn’t solve the problem of all the existing deals and businesses. The enormous stack of documents on the stage when he spoke shows just how many deals and businesses there are” (…) “The President-elect’s attorney justified the decision not to use a blind trust by saying that you can’t put operating businesses in a blind trust. She’s right about that. That’s why the decision to set up this strange new kind of trust is so perplexing. The attorney also said she feared the public might question the legitimacy of the sale price if he divested his assets. I wish she had spoken with those of us in the government who do this for a living. We would have reassured her that Presidential nominees in every administration agree to sell illiquid assets all the time. Unlike the President, they have to run the gauntlet of a rigorous Senate confirmation process where the legitimacy of their divestiture plans can be closely scrutinized. These individuals get through the nomination process by carefully ensuring that the valuation of their companies is done according to accepted industry standards. There’s nothing unusual about that” (…) “Back when he was working for the Justice Department, the late Antonin Scalia also wrote an opinion declaring that a President should avoid engaging in conduct prohibited by the government’s ethics regulations, even if they don’t apply. Justice Scalia warned us that there would be consequences if a President ever failed to adhere to the same standards that apply to lower level officials. The sheer obviousness of Justice Scalia’s words becomes apparent if you just ask yourself one question: Should a President hold himself to a lower standard than his own appointees?”(Shaub, 2017).
His sons will run the Trump Organization:
“President-Elect Trump will relinquish management of his investment and business assets for the duration of his Presidency. To accomplish this, all of President-Elect Trump’s investment and business assets, commonly known as The Trump Organization—comprised of hundreds of entities—have been or will be conveyed to a Trust, which will be managed for the duration of his Presidency by his sons, Don and Eric, and a Trump executive, Allen Weisselberg. Collectively—and unanimously—Allen, Don, and Eric will have the authority to manage The Trump Organization and have full decision-making authority for the duration of the Presidency, without any involvement whatsoever by President-Elect Trump. To implement this transfer, President-Elect Trump will resign from all official positions he holds with The Trump Organization entities” (…) “the Trust Agreement prohibits The Trump Organization from entering into any new transaction or contract with a foreign country, agency, or instrumentality thereof, including a sovereign wealth fund, foreign government official, or member of a royal family, the United States government or any agency or instrumentality thereof, or any state or local government or any agency or instrumentality thereof, other than normal and customary arrangements already undertaken before the President-Elect’s election” (…) “President-Elect Trump is taking these extraordinary steps to ensure that the Office of the Presidency is isolated from The Trump Organization” (…) “the Constitution does not forbid fair-market-value transactions with foreign officials. To put to rest any concerns, however, the President-Elect is announcing he will donate all profits from foreign governments’ patronage of his hotels and similar businesses during his presidential term to the U.S. Treasury. Historically, when federal officers received a gift or emolument from a foreign state, they surrendered possession of it to the federal government, though they were permitted to retain amounts necessary to offset their business expenses. Although the Constitution does not require the PresidentElect to do the same for profits from his businesses’ fair-market-value transactions, he wants to eliminate any distractions by going beyond what the Constitution requires” (Morgan Lewis, 2017).
That Trump Organization can be run by his family it is acceptable by looking at the trust, but the initial issues with the way it gets done and that he shall not be reported on the way of the trade or business, is hard to believe as the business and family is very connected, hence with the campaign where all of the older kids we’re taking part more or less. Therefore the Vice-Executives of the Trump Organization, his kids are now taking charge and taking his position in his company. That he owns and has controlled over decades. That needs to be clear that the family members cannot tell or say him company secrets as long as he is the Executive of the Republic. If they do than their doing illegal information and destabilizing the interests of the government, why is it so? That is so because the President is the head of the government and has to serve all the citizens, not just the ones that are working in his owned company. That is why the nominees for positions in the Trump Administration have to leave their boardrooms and their former businesses. This is done because they will not have other interests than serving the Republic, if not they should be back in the corporate office instead of being civil servants. If they serve Exxon or other businesses while they are serving as ministers or secretaries of departments, than they are opening up for corrupt and illegal trading from the top and stealing from the bottom. That is what we can worry about when we know how close the President is still connected with his businesses, without a clear line of procedure for how the transactions and creation of future business inside Trump Organization is not known.
The President-Elect have not delivered his IRS Tax Returns, neither proven his real value or what he owns, if it is in Missouri or Mississippi, because for all we know he could own a lobster-shack in Louisiana. Even than he should open the door so he could explain why he hasn’t been through the process of showing his true colours and trade. The real honest profits and the expenditure of his companies, the facts of his royalties and the tax rate on his businesses as well. There are many open questions as to where he does business, what sort of people are he connected with abroad and what sort of agreements does the Trump Organization have and own outside of the United States. If he has a dungeon in St. Petersburg or has a palace in India, we don’t really know, but if he was accountable or transparent. Then we could know what sort of conflicts and interests the President-Elect have. This is the missing picture in a flawed Presidential-Elect who doesn’t’ trust anybody, but himself.
Why does I say that is because he cannot be transparent with his own and therefore why would he be that with the public coffers? Are the public coffers safe when we have no idea about how he used his own private funds? Will the public coffers be used to function and give contracts to businesses close to him or to cronyism in the new Trump Administration? Peace.
Investopeida – ‘Blind Trust’ link: http://www.investopedia.com/terms/b/blindtrust.asp
Remarks of Walter M. Shaub, Jr., Director, U.S. Office of Government Ethics, as prepared for delivery at 4:00 p.m. on January 11, 2017, at the Brookings Institution (11.01.2017)
Morgan Lewis – ‘WHITE PAPER Conflicts of Interest and the President Background for President-Elect Trump’s January 11, 2017 Press Conference Prepared by Morgan, Lewis & Bockius LLP’ (11.01.2017)
““African Quality” is the industry term for fuels that are destined for African markets. They are characterised primarily by their high sulphur content, though the term also refers to fuels with other low-quality aspects such as a high olefinic or aromatic content. In short, this definition of African Quality matches the type of fuels that we found at petrol stations owned by Swiss trading companies in Africa” (Public Eye, P: 100, 2016).
There are viciousness and malice attempts all over the globe, there warlords killing for selling luxurious minerals and keeping resources in their hands to sell to get ammunition. Then there are not as vicious as them, but still worth condoning; the ones that knows that they are selling an off-brand product that they are not allowed elsewhere, but selling “African Quality”, low-level gasoline with blended high toxic and filled with metals, with levels higher than sulphur, PAHs and other chemicals that can be dangerous at certain extent.
Switzerland are a prosperous and business companies that are profitable abroad, like the ones mentioned in the report of Public Eye, that shows to what extent they go to earn fortunes. As they uses both connections to various regimes; they are using connections in Netherlands to blend and mix diesel and gasoline to the African market. That would be fine if it wasn’t an inferior product, but we’re a product that could be following standards of the same quality sold in Denmark or United Kingdom, instead it filled dangerous toxins and metals that can make the air-quality lower and make the car quickly destroyed. These acts should not go unnoticed.
Mixing and making cheap Gasoline in Abidjan, Ivory Coast:
“How was this waste produced? Every month for 16 months, between January 2006 and April 2007, Trafigura bought batches of coker naphtha created at a Mexican refinery, with the intention of turning them into blendstocks for gasoline. This coker naphtha is one of the lowest qualities of gasoline blendstocks and it is created during oil refining from the “bottom of the barrel”. It has two specificities: first, it contains very high levels of toxic substances, namely sulphur and mercaptan sulphur, and second, as a direct consequence, it is very cheap. In other words, it is an opportunity for (almost) any creative trader. “As cheap as anyone can imagine”. James McNicol, a trader from Trafigura, wrote in an email to his colleagues in December 2005, “[this] should make serious dollars”. Trafigura’s sole motivation for experimenting with the production process was profit. Company executives had estimated that buying and selling the coker naphtha would generate profit to the tune of US$7 million per cargo. But before “making serious dollars”, Trafigura had to convert the product into a suitable ingredient for African gasoline: it had to find a way to lower drastically the mercaptan sulphur content, otherwise its odour would be unbearably strong” (Public Eye, P: 17, 2016).
Abidjan – Minton Report on African Quality gasoline:
“Based on the Minton report and an internal Trafigura document we conclude that the total sulphur still in the washed naphtha was between 608 and 680 tons – equaling between 7,156 and 8,000 ppm. The Minton report noted that “the process had achieved a 47 percent reduction of the mercaptans [in the sense of transforming into other Sulphur components] and that some ended up in the aqueous waste phase and some in the oily product, but that the conversion rate was not known.“ An internal Trafigura memorandum dated 23rd September 2006 summarizes in paragraphs 1–3 how much coker naphtha was unloaded to the Probo Koala by three different vessels and the mercaptan Sulphur content of it before and after the washings: (1) 11 April 2006 M/T Seapurha: 28,829 mt, mercaptan sulphur level of 1,700 ppm and after washings 950 ppm. (2) 19 May 2006 M/T Moselle: 28,130 mt, mercaptan sulphur level of 2,014 ppm and after washings 950 ppm. (3) 18 June 2006 M/T Seavinha 28,284 mt, mercaptan sulphur level of 1,700 ppm and after washings 950 ppm. We can make an even more precise estimation: Based on Trafigura’s reply to the BBC that gives a summary of the composition of the waste as estimated by the claimants in a group litigation case – and based on analysis of the Netherlands Forensic Institute – the total sulphur content of the waste dumped in Abidjan was around 66 tons” (Public Eye, P: 149, 2016).
“In 2015, Trafigura had revenues of US$ 14.4 billion from Africa, making the continent its second largest market after Europe. Its competitor, Vitol, also operates widely on the continent. Thought to be the world’s largest commodity trader, Vitol might be expected to give some information about its activities if only in the public interest, but the company does not disclose its annual results. Many other Swiss companies also supply fuels to Africa” (Public Eye, P: 30, 2016).
Using Oil Deposits to blend into African Quality:
“Oil depots offer the opportunity to blend petroleum products according to the fuel quality required by the country (see chapters 9 and 10). With that respect, an advisor close to the BP-Puma transaction assumed Puma Energy was, among other reasons, buying petrol stations in order “to sell surplus of dirty products in Africa.” He was not the only one. A market analyst from Petroleum Intelligence Weekly also mentioned the “compromise” in fuel quality that could occur with the arrival of the traders.13 Weak regulation on fuel quality standards (particularly for sulphur) is a crucial factor in any analysis of the economic potential of petrol stations in Africa. As we show below, many high sulphur, low-quality intermediate products are available that can be blended into “African Quality” diesel and gasoline. Playing with qualities is a lucrative strategy and nothing else than a form of regulatory arbitrage” (Public Eye, P: 31, 2016).
Republic of Congo demand of Petroleum:
“Congo’s demand for petroleum products is satisfied by two sources. The first source is the state-owned refinery, Coraf, which is run by the President’s son Denis Christel Sassou Nguesso, nicknamed “Kiki”. This refinery gets its oil from the State and provides diesel and gasoline to the local market. Coraf’s dodgy deals with a Swiss front company, Philia, have been the subject of a previous report by Public Eye” (…) “Tacoma and its Congolese subsidiary X-Oil have both been paying “consulting fees” to an offshore shell company belonging to Denis Christel Sassou Nguesso, the Congolese President’s son and head of trading operations at SNPC, according to a 2006 Hong Kong court judgment.32 The shell company, Long Beach Limited (Anguilla), was part of a broader scheme set up by Denis Christel Sassou Nguesso to syphon off part of Congo’s oil wealth to private coffers, in collusion with Denis Gokana’s AOGC” (Public Eye, P: 43, 2016).
Difference between Europe and African levels of PAHs:
“So the actual gap between the African and European samples is even wider. Indeed, a study showed that the level of PAHs contained in diesel sold in Germany had an average of 2.73 percent of mass in 2013. So Vitol’s diesel, as sold in Senegal, has more than five times more PAHs than the diesel sold in Germany. Worldwide, the average of PAH in diesel is estimated to be 3.7 percent of mass, according to CONCAWE. This is certainly lower than what we found in Africa. Only two of our samples, found at Oryx in Zambia and Trafigura in Côte d’Ivoire, are lower than the global mean” (…) “The reason why African diesel fuels have high aromatic and polyaromatic content can easily be explained: almost no sub-Saharan African country regulates them. And so the trading companies who import these fuels are tempted to use cheaper, lower quality, high aromatic blendstocks for diesel in the African markets. This tactic might have commercial advantages, but for the people and for the environment where these fuels are sold, this “blend-dumping” is a very unhealthy practice” (Public Eye, P: 55, 2016).
Difference between Europe and African levels of sulphur:
“But if we compare the average sulphur levels in European gasoline (7 ppm) with the highest sulphur sample of gasoline from a station in Ghana belonging to UBI, a subsidiary of Puma Energy, then that discrepancy increases to a factor of 103. More generally, we found the highest levels of sulphur in Ghana and Mali. In Ghana, we found between 275 and 718 ppm sulphur in the four gasoline samples. This is within the legal limit, but the limit itself is very high (1,000 ppm), one hundred times higher than the European legal limit. Many of our samples show much higher sulphur contents than what refineries in West Africa often produce. The Tema refinery in Ghana produces an average 127 ppm gasoline” (Public Eye, P: 56, 2016).
Swiss trading in Ghana:
“In 2014, 4 of the 8 deliveries from Swiss trading companies fluctuated between 2,800 ppm and 3,200 ppm, highlighting a possible strategy to stick as close as possible to the legal limit. That same year, both Vitol and Trafigura delivered diesel with sulphur content so high that the product could not be sold at the pump. The product would have been further blended in the depot to lower its sulphur level, unless it ended up being sold off-spec (i.e. illegally) to consumers. Asked to comment about those of their cargoes containing higher sulphur content than allowed at the pump, Trafigura declined to do so while Vitol specified that it “does not comment on specific cargoes as a matter of policy.” (Public Eye, P: 75, 2016). “While the subsidies drained the public treasury, the BDCs benefited from them systemically delivering lower quality products than planned (<1,000 ppm). Indeed, our findings revealed sulphur levels in diesel that were on average much higher than 1,000 ppm both at the moment of import and at the pump. The price calculated by the government to subsidise the importers therefore didn’t correspond with the quality of products imported. In a totally legal manner, as they were respecting Ghana’s national standards, the importers profited from a system to the detriment of the government (public finances) and the consumers, not to mention Ghanaian health” (Public Eye, P: 79, 2016).
Money before People:
“Simply put, Swiss commodity trading companies put profits before anything else, even before the health of the population, while claiming, as Vivo does for instance in Côte d’Ivoire, that “it uses all the means and tools necessary to ensure the latest international standards of quality […] so that Ivorian consumers benefit from what is best in terms of fuel when going to a Shell petrol stations”. Our findings contravene these glossy CSR-statements. In a corporate video, Trafigura says that “Across Africa and other developing regions, our supply of affordable high-quality fuel products empowers local businesses.” Vivo Energy is the same, saying that “Our commitment to achieving and maintaining the highest international Health, Safety, Security and the Environment (HSSE) standards is at the heart of our business and is a key differentiator (…) in Africa.” Not to repeat a similar promise made by Oryx Energies, that “Our commitment (…) for Africa means that we take every precaution to minimise the potential impact our products and services may have on the environment.” Commenting on Oryx’s development in Mali, the chairman of the group, Jean Claude Gandur said: “This enables us to supply high-quality fuels (…) to an increasing number of clients.” The reality is quite different. Just to take Mali as an example, Oryx’s diesel in the land-locked country was the worst we found among 25 samples collected in 8 countries, with 380 times more sulphur than allowed by the European limit” (Public Eye, P: 126 , 2016).
We can easily see how the Swiss Corporations are earning fortunes on selling lower-quality petroleum to the African market as their loose regulation and easy market are acceptable for the degraded gasoline. This indicates how the European Corporation are doing what they can to earn monies on dangerous products that would not accept on their own shores. It’s disgraceful how these “African quality” gasoline and diesel are sold in different nations around on the African Continent.
It is not only bad for the cars and for the engines. It is harmful to the environment and the people who inhale the toxins and chemicals blends that come after the use of the gasoline. This pollution is man-made toxic blend that creates more harm than good. Still, it’s a legal product and allowed to sell without any questions. As the Governments are giving way to the Oil Companies and Holding Companies that are selling these there. This should not be acceptable.
Here is just one some samples of the bad business practices, there might be even more and worse than what the Public Eye found and what other companies do on the continent. To what extent they go to earn profits without consequences. This here proves the ability these companies have to be hazardous and be rough with nature and humanity while earning high profits on low-quality products. This should be sanctioned and stopped if it matter’s what people are inhaling and the damage it does to our bodies, secondly what these toxins do to our nature and surroundings as it might be in our food, waters and pollute our air. Certainly the initial findings prove the toxins and the ways of blending are reasons for itself to stop the manufacturing process of making it in general. Especially knowing how much better by just doing it proper and follow guidelines of European laws on gasoline and diesel would harm the environment less. The people should also not get polluted and get toxins because the corporations sell them a disgraceful product.
Last remark, when some of this by blending on ships or at facilities that produce already the European Standard gasoline or diesel, it is insulting that on the same refinery that they create worse product’s to sell leftovers to a continent; because they can and will to make as much profit as they can. This is our world and it’s not ideal, therefore we have to put a lid on it so it can change! Peace.
Public Eye – ‘Dirty Diesel – How Swiss Traders Flood Africa with Toxic Fuels’ (September 2016, Ghana)
The Economic Policies of any United States administration are usually bound by the people that are running two key positions; these are Secretary of Treasury and Secretary of Commerce. The Economy is bound by the decisions these ones do. This here will prove what kind of administration that Trump will run and what kind of regulations of trade, business and economy in general. Therefore the picking of personnel is central to how the state of affairs at the top of the food-chain in Washington.
Donald Trump the Presidential-Elect that has been all and mighty on draining the swamp. So he proves that it was just words during the campaign to sell to his supporters, he even pledged this earlier in the year:
“We have to give new voices a chance … so we can have a government that works again and can function properly …” Trump said” (Hughes, 2016).
Draining the Swamp:
“There is another major announcement I am going to make today as part of our pledge to drain the swamp in Washington. If I am elected President, I will push for a Constitutional Amendment to impose term limits on all members of Congress” (…) “Decades of failure in Washington, and decades of special interest dealing, must come to an end. We have to break the cycle of corruption, and we have to give new voices a chance to go into government service. The time for Congressional term limits has arrived” (…) “Not only will we end our government corruption, but we will end the economic stagnation” (Trump, 2016).
We will first see what the Treasury are supposed to do and what the department will do:
“Treasury’s mission highlights its role as the steward of U.S. economic and financial systems, and as an influential participant in the world economy” (Treasury.gov – ‘About – Role of Treasury’). So the Secretary of Treasury is important for the financial system, therefore it’s important to look at the nominee. So we have to look into the nominee who has influence of the financial systems.
Also, we have to see what is special about the Department of Commerce: “The Department works with businesses, universities, communities, and the Nation’s workers to promote job creation, economic growth, sustainable development, and improved standards of living for Americans. Through its 12 bureaus and nearly 47,000 employees located in all 50 states and five U.S. territories and more than 86 countries worldwide, the Department administers critical programs that touch the lives of every American” (Commerce.gov – ‘About Commerce’). So we can see the importance of the person leading these 12 bureaus that should make it possible to create jobs and commercial business in the United States, therefore the person leading here has to know how to improve the economic growth.
With this knowledge the persons acts before and their economic framework together with the economic platform; that means their faith in the markets or the regulations. That he will give way to free regulations for the financial markets instead of regulating them.
Steve Mnuchin is the nominee for Secretary of Treasury:
“Mnuchin worked at Goldman Sachs for seventeen years, where he eventually became an executive vice president. According to the Wall Street Journal, he left in 2002 “at the age of 39 with a reported $46 million stake in the bank.” He was recruited by his Yale roommate, Eddie Lampert, to join ESL, a hedge fund, as vice chairman. A few months later, he jumped to SFM Capital Management as its CEO. But within a few months he changed jobs again, leaving SFM to co-found Dune Capital with his former Goldman colleagues Daniel Neidich and Chip Seelig” (…) “In 2009, Mnuchin helped assemble a group of investors (including computer capitalist Michael Dell, financier George Soros, private equity investor Christopher Flowers, and hedge fund titan John Paulson) to buy IndyMac Bank from the Federal Deposit Insurance Corporation (FDIC) as part of a sweetheart deal. They renamed it OneWest Bank and kept its headquarters in Pasadena” (Dreier, 2016).
“Relativity explicitly blames the bank, founded by Steve Mnuchin, who until recently was one of studio founder Ryan Kavanaugh’s best friends and a company director, for violating bankruptcy procedures and for delaying the release of a movie recently considered to be the studio’s savior, a letter and an email from the company obtained by The Post reveal” (…) “ OneWest’s hoovering up of the $50 million, revealed in court papers, included $32 million drained from the studio’s library and $17.9 million from two other accounts” (…) “The bank’s actions placed Relativity in a precarious financial state, forcing it to largely “stop paying many vendor bills, to postpone production of certain film projects and to postpone the release of certain completed films,” Blackstone’s Tim Coleman, Relativity’s financial adviser, said in court papers” (McCaulay, 2016)
Foreclosure from OneWest:
“According to Gudiel, when she tried to make the $2,500-a-month mortgage payment two weeks late in November 2009, OneWest refused the payment and instructed her to pursue a loan modification, a long process that ultimately ended in rejection in January” (…) “OneWest referred questions to the public relations firm Sard Verbinnen & Co., which said that Fannie Mae, which holds about one-third of the mortgages in the country, had not authorized them to modify the loan” (… ) “OneWest is pleased that it has been able to work with Fannie Mae, the owner of the loan, to authorize it to offer the Gudiels a loan modification that would allow the family to stay in their home,” the firm said in a statement” (Huus, 2011).
Fraud from his bank:
“While the Rigalis were negotiating on the mortgage modifications, IndyMac Federal Bank failed in what would be the fourth-largest bank failure in U.S. history. What was left of IndyMac was acquired in March 2009 by a Mnuchin-led group of private investors for $1.55 billion” (…) “The Rigalis’ court filings “alleged they were led to believe, by representatives of several banks over a period of years, that their $560,000 loan would be modified. They believed they had entered into several forbearance agreements with several but related banks.” (…) “Crandall wrote in his denial of the motion that “the facts before the court are sufficient to defeat summary judgment” of most of OneWest Bank’s assertions, and he concluded that the Rigalis produced enough proven evidence to show that they could prevail in a jury trial. OneWest quickly offered a settlement, sources said” (…) “Recent legislative measures “provide an important lens” for the court to look through, wrote Crandall in denying OneWest’s motion” (…) “The judge was referring to the banking practice of dual tracking, in which a borrower in default seeks a modification while the institution continues at the same time to pursue foreclosure. By the time the borrower learns what is happening, it is usually too late to prevent the foreclosure” (Blackburn, 2013).
Just as he has become the nominee certain board positions he had to give up:
“NEW YORK–(BUSINESS WIRE)–CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of commercial lending and leasing services, today announced that Steven T. Mnuchin has resigned from its Board of Directors, effective immediately. His resignation follows President-elect Donald J. Trump’s announced intention to nominate Mnuchin as the next Secretary of the Treasury” (…) “On behalf of the entire Board, I want to thank Steven for his contributions to CIT,” said Ellen R. Alemany, Chairwoman and CEO. “Steven has been a valued member of our Board, and we wish him well in this monumental role.” (CIT.com, 2016). He also stepped down from being a board-member at Sears.
So the OneWest CEO Steve Mnuchin is becoming the Secretary of Treasury in the Trump Administration. He been a board-member in CIT and Sears, as well as been speculative in foreclosures in people’s homes as well as Relativity studio or Film Company became bankrupt because of the loans and structure of funding through OneWest. So this speculative actions can be assured of will happen, but not with just one hedge-fund Wall-Street banker bravado, but now with the economic policies as underlining from the newly nominated Munuchin.
Than we have the other nominee that will lead 12 important bureaus that is now being delegated through the financial heavy weight Ross; which also have long history on Wall Street.
Wilbur Ross is the nominee for Secretary of Commerce:
Wilbur is another fellow with a spreadsheet that is impressive, but also sees the cynical side of the economy, where the importance of business is profits; not actually creating work. Therefore his nomination is more about securing equity is the reality than the person who actually earns those fortunes. Therefore the way he salvaged the businesses and made profits on them, as well as the reality of the man behind those transactions and how many settlements for fraudulent acts from his companies and subsidiaries. Here is a little look!
“Wilbur Ross is best known for his ability to find distressed companies and turn them around for a large profit – it is a talent that has given him an estimated net worth of more than $2 billion. And in recent years Ross’s sights have been firmly set on financial companies. Since 2008 he has invested a reported $1.8 billion into banks. But now he has had enough. NBNK Investments, the investment company in which Ross took a 30% stake in 2013 and that tried and failed to buy TSB from Lloyds, is closing. In 2010 NBNK had raised £50 million in an IPO with the aim of financing European banks. Six years later, it didn’t have a single investment to show for it” (Avery, 2016).
“WL Ross & Co. LLC, a Delaware limited liability company, is a private equity firm that was founded in 2000. WL Ross registered as an investment adviser with the Commission in April 2007. WL Ross is headquartered in New York, New York. Since 2006, WL Ross has been wholly owned by Invesco Private Capital, Inc., a subsidiary of Invesco Ltd., a publicly traded company (collectively, “Invesco”). WL Ross provides investment advisory services to the WLR Funds and other private equity funds, as well as to separately managed accounts and co-investment vehicles. According to its most recent Form ADV filing as of April 21, 2016, WL Ross has approximately $4.6 billion in assets under management” (Service Exchange Commission, 2016).
“Between 2001 and 2011, WL Ross adopted a Transaction Fee allocation methodology that resulted in WLR retaining a significant amount of those fees for itself rather than allocating them to the WLR Funds for the purpose of offsetting the management fee. Specifically, WL Ross allocated Transaction Fees that it earned from portfolio investments to the WLR Funds based upon their relative ownership percentages of the portfolio company without disclosing this practice. As a result, WL Ross retained for itself that portion of the Transaction Fees that was based upon co-investors’ relative ownership of the portfolio company, without subjecting such fees to any management fee offsets. WLR did not disclose to the WLR Funds and to the Funds’ limited partners that it would allocate Transaction Fees according to the above allocation methodology, and that WLR construed the ambiguous provisions in the relevant LPAs in its own favor rather than the WLR Funds’ favor. If WL Ross had instead adopted a methodology requiring the allocation of all Transaction Fees pro rata among the investing WLR Funds (and other WLR funds that also had offset provisions) and offset the WLR Funds’ management fees accordingly, the WLR Funds (and other WLR funds that also had offset provisions) would have received the benefit of all Transaction Fees received by WL Ross. WL Ross received approximately $10.4 million more in management fees using the selected methodology than if it had allocated Transaction Fees pro rata among the WLR Funds for management fee offset purposes during the relevant time period” (Security Exchange Commission, 2016).
Earning money on failing business:
“In May the board of NBNK, made up of private equity firm WL Ross & Co’s senior vice president Stephen Johnson, and Labour life peer and barrister Lord Brennan, voted in May to make the payment to WL Ross & Co for the “recovery of legal fees and other due diligence costs.” (…) “The vehicle’s most recent accounts revealed a loss for the year of £271,000, from a loss of £182,000 the previous year” (Bambrough, 2016).
“Billionaire investor Wilbur Ross has reached a deal to buy Nexeo Solutions Holdings LLC, a distributor of plastic resins and chemicals, for roughly $1.6 billion, including debt” (…) “Nexeo is currently owned by private-equity firm TPG, which purchased the company for nearly $1 billion from U.S. specialty-chemicals producer Ashland Inc (NYSE: ASH) in 2011. The deal is expected to be announced on Monday morning” (…) “WL Ross Holding will pay $500 million in cash and fund the rest of the purchase with debt, the sources told the newspaper. TPG will roll over some of its equity into the new public company, one of the people told the Journal” (DiSavino, 2016).
“The Securities and Exchange Commission said on Wednesday that the group failed to disclose its fee allocation practices, resulting in investors overpaying by $10.4m between 2001 and 2011. WL Ross was not allocating transaction fees to the funds to offset management fees, the SEC said” (…) “WL Ross also agreed to pay a civil penalty of $2.3m, but neither admitted to nor denied the SEC’s findings” (…) “We are pleased to have arrived at a resolution around historical management fee disclosure in a subset of our funds,” said Jeaneen Terrio, a spokesperson for Invesco, which bought WL Ross in 2006. “This resolution reflects a proactive approach to handling the matter and our commitment to exceeding the expectations of today’s private equity market.” (Sampson, 2016).
Fixing Irish Economy:
“As an investor in Bank of Ireland, it would be a surprise if Ross thought otherwise – after all he needs to recoup his investment and more. But he is one of the world’s most successful turnaround financiers – his involvement in the turnaround of over $200bn of distressed assets worldwide has earned him the nickname ‘king of bankruptcy’. So his words will be a boost to Ireland’s international standing” (…) “In the past few weeks of financial turmoil, Ireland has seen some faith in the international money markets restored, with 10-year bond yields down from 14% in mid-July to around 9%.” (O’Carroll, 2011).
So Donald Trump’s way of cleaning up the swamp is giving the idiom or a myth, because Wall Street connections with Washington D.C. cartels were not supposed to happen under the presidency. With the knowledge of the men he has picked in charge of the Economy, this proves that it was never a part of plan. If so Trump has a rare way of sending of the message with hiring and nominating Steven Mnuchin and Wilbur Ross.
These men have worked up fortunes and earned monies on the destruction of the American Dream. They have taken people’s hard-earned monies and created profits overnight. These men have used sophisticated limited liabilities companies, hedge-funds and transactions to earn monies on failed houses and companies. With ease the men and woman could be stifled even the government banks Fannie Mae and Freddie Mac and the foreclosed homes has even been a bargain. These men are supposed to create industry and the regulations for the finance industry. Together with the creations of consolidation funds and the roll-over money from the government; so that the debt could be staying longer as Mnuchin believes even can be put into 100 year bonds. That could create an unknown inflation of funds and also of the regulations of the combined currency in the market. Something that Wall Street people sees it as an opportunity.
Donald Trump has seeking to revamp the economy with men who are connected with the biggest investors of our time, with the families and using all kind of tricks to earn coins for themselves. Even the SEC has fined the companies of Mr. Ross for misbehaving with funds and with commissions, these men that has used ways of loop-holing the finance industry; the finance industry they now will steer. This can only be for the freedom of the giant companies and the wealth they have created in the market place on other people’s misery.
Trump has picked and nominated men who’s greed extend nearly no boundaries, these men will not drain a swamp or even follow up the promises on the campaign. They will continue and less regulates the economy. That might bring back the recession or even depression as the richer get wealthier and the poor will not become the middle-class.
These men has surely will secure the class there are set in and want to be part of. The one that they have been parts of and will secure the future of. These are not working-class friendly men who connect with the Indiana, Minnesota and Mississippi. So Trump clearly only a one-man show for the façade and not the real deal, sort of like a government acting on the Trump University philosophy: “You’re selling a feeling, not a product” and the same does the Trump Organization and now the Trump Administration.
The lie this time is the draining the swamp, the corporate parts of Washington D.C. politics and elites, as Trump chooses the same or even more wealthier businessmen who has more connections inside Wall Street and has more conflict of interest than before. The Trump Administration in the White House will be filled with men who have their business at heart and not the citizens who voted for him. Peace.
Avery, Helen – ‘Banking: Wilbur Ross chases shadows’ (May 2016) Link: http://www.euromoney.com/Article/3551137/Banking-Wilbur-Ross-chases-shadows.html?copyrightInfo=true
Bambrough, Billy – ‘US billionaire investor Wilbur Ross picks up £280,000 from the ashes of NBNK’ (04.07. 2016) link: http://www.cityam.com/244546/us-billionaire-investor-wilbur-ross-picks-up–ashes
Blackburn, Daniel – ‘OneWest Bank pays 7 figures in mortgage fraud case’ (11.09.2013) link: https://calcoastnews.com/2013/09/onewest-bank-pays-7-figures-mortgage-fraud-case/
CIT.com – ‘CIT Announces Resignation of Steven T. Mnuchin from Board of Directors’ (02.12.2016) link: http://news.cit.com/press-release/corporate-news/cit-announces-resignation-steven-t-mnuchin-board-directors
Dreier, Peter – ‘The Worst of Wall Street: Meet Donald Trump’s Finance Chairman’ (10.05.2016) link: https://www.thenation.com/article/the-worst-of-wall-street-meet-donald-trumps-finance-chairman/
DiSavino, Scott – ‘Wilbur Ross to buy Nexeo from TPG for $1.6 billion: source’ (20.03.2016) link: http://www.streetinsider.com/Mergers+and+Acquisitions/Wilbur+Ross+to+buy+Nexeo+from+TPG+for+$1.6+billion%3A+source/11434492.html
McCaulay, Scott – ‘Controversial Film Financier Steven Mnuchin Joins Trump Campaign as National Finance Chairman’ (05.05.2016) link: https://filmmakermagazine.com/98428-controversial-film-financier-steven-mnuchin-joins-trump-campaign-as-national-finance-chairman/
Hughes, Trevor – ‘Trump calls to ‘drain the swamp’ of Washington’ (18.10.2016) link: http://www.usatoday.com/story/news/politics/elections/2016/2016/10/18/donald-trump-rally-colorado-springs-ethics-lobbying-limitations/92377656/
Huus, Kari – ‘Homeowner taps ‘Occupy’ protest to avoid foreclosure’ (17.10.2011) link: http://www.nbcnews.com/id/44908122/ns/us_news-life/t/homeowner-taps-occupy-protest-avoid-foreclosure/#.WEHO5fnhDIU
O’Carroll, Lisa – ‘Ireland will be ‘Celtic Tiger’ again – Wilbur Ross’ (31.08.2011) link: https://www.theguardian.com/business/ireland-business-blog-with-lisa-ocarroll/2011/aug/31/ireland
Samson, Adam – ‘WL Ross in $14.1m settlement with US over fee disclosures’ (24.08.2016) link: https://www.ft.com/content/e8424f8f-5031-3d50-941b-a51ccaa07980
Security Exchange Commission – ‘Release No. 4494 / August 24, 2016 ADMINISTRATIVE PROCEEDING File No. 3-17491’ (24.08.2016)
Trump, Donald J. – ‘TRUMP PLEDGES TO DRAIN THE SWAMP AND IMPOSE CONGRESSIONAL TERM LIMITS’ (18.10.2016) link: https://www.donaldjtrump.com/press-releases/trump-pledges-to-drain-the-swamp