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Monday, August 21 2017 @ 12:39 PM CDT
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Social Security and Trust Fund Reserve Depletion

The Social Security Board of Trustees today released its annual report on the long-term financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance, and Disability Insurance (OASDI) Trust Funds are projected to become depleted in 2033, unchanged from last year, with 77 percent of benefits still payable at that time. The DI Trust Fund will become depleted in 2016, also unchanged from last year's estimate, with 81 percent of benefits still payable.

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Treasury International Capital Data For July

WASHINGTON – The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for July 2014.  The next release, which will report on data for August 2014, is scheduled for October 16, 2014.

The sum total in July of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $57.7 billion.  Of this, net foreign private inflows were $84.9 billion, and net foreign official outflows were $27.1 billion.

Foreign residents decreased their holdings of long-term U.S. securities in July; net sales were $3.9
billion.  Net purchases by private foreign investors were $1.9 billion, while net sales by foreign official institutions were $5.8 billion.

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Money Laundering Takedown

Operation Targets Sinaloa Drug Cartel

In a major takedown in Los Angeles on Wednesday, September 10, nearly 1,000 federal, state, and local law enforcement officers seized approximately $100 million in cash, arrested nine subjects, and searched dozen of businesses in the city’s downtown fashion district alleged to have laundered money for Mexican drug cartels.

The ongoing investigation—three indictments were unsealed Wednesday—is specifically aimed at the Sinaloa Cartel and its activities, including narcotics trafficking, hostage taking, and money laundering in Los Angeles and elsewhere in the U.S. and Mexico.

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CBP Officers at Calexico Port Seize Nearly $655,000 in U.S. Currency Bound for Mexico

During an intensive inspection that included an alert from a detector dog and the usage of the port’s imaging system, officers discovered 24 wrapped packages of U.S. currency concealed inside the vehicle’s spare tire.Calexico, Calif. — U.S. Customs and Border Protection officers arrested a Tecate man on Friday after discovering $654,900 in unreported U.S. currency hidden in the spare tire of the vehicle he was driving.

The incident occurred at about 5:45 a.m. on August 30th, when CBP officers, together with members of the Imperial Valley Border Enforcement Security Task Force (IV-BEST), were conducting southbound inspections of travelers heading to Mexico through the Calexico downtown port of entry. Officers targeted a 2011 Toyota Tacoma and referred the driver for further examination.

During an intensive inspection that included an alert from a detector dog and the usage of the port’s imaging system, officers discovered 24 wrapped packages of U.S. currency concealed inside the vehicle’s spare tire. 

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Israel Switt a Philadelphia jeweler losses $80 million in 1933 Double Eagles to the US governent.

I did this article because I have seen lots of websites including Russia Today claiming our government seized $80 million in gold coins from Israel Switt a Philadelphia jeweler family under Executive Order 6102! This is not true, in a nut shell the 1933 Double Eagle gold coins that had never been circulated by the U.S. Treasury. So Israel Switt stole the coins and the government took the family to court to prove it and won the case.On July 20, 2011, a federal court jury ruled in favor of the government in its seizure of ten 1933 Double Eagle gold coins that had never been circulated by the U.S. Treasury. The coins had been in the possession of the family of Israel Switt.

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Statement from the Treasury Department on the President’s Decision Regarding Ralls Corporation

WASHINGTON – The President issued an order prohibiting the acquisition and ownership of four wind farm project companies by Ralls Corporation, its owners, its subsidiaries, and its affiliates. The order directs Ralls Corporation to divest its interest in the wind farm project companies that it acquired earlier this year, and to take other actions related to the divestment. Ralls Corporation is owned by Chinese nationals, and is affiliated with a Chinese construction equipment company that manufactures wind turbines. The wind farm sites are all within or in the vicinity of restricted air space at Naval Weapons Systems Training Facility Boardman in Oregon. 

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Treasury Sanctions Members and Associates of Japanese Criminal Organization

Actions Target the Second-Largest Clan within the Japanese Yakuza Criminal Network for Activities Including Human Trafficking
WASHINGTON – The U.S. Department of the Treasury today announced the designation of the Sumiyoshi-kai, the second-largest clan within the Japanese Yakuza criminal network, and two of its leaders. This group and individuals are being designated by the Treasury Department pursuant to Executive Order (E.O.) 13581, which targets significant transnational criminal organizations (TCOs) and their supporters. 

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Zions Bancorporation Repays in Full its Remaining $700 Million in TARP Funds, Overall Positive Return on Tarp’s Bank Programs N

WASHINGTON – The U.S. Department of the Treasury announced that Zions Bancorporation (Salt Lake City, Utah) has repurchased in full its remaining $700 million in outstanding Troubled Asset Relief Program (TARP) Capital Purchase Program (CPP) preferred stock. 

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Virginia Businessman Pleads Guilty to Bribery and Other Charges in Contracting Scheme Involving U.S. Army

WASHINGTON
Oh Sung Kwon, 47, a Northern Virginia businessman, pled guilty today to federal charges stemming from a bribery scheme in which he paid thousands of dollars to an Army official in return for government contracts, as well as a separate scheme involving fraudulent real estate sales and refinances. 

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Former Jefferson Parish President Pleads Guilty

NEW ORLEANS—Aaron F. Broussard, age 63, a resident of Jefferson Parish and former two-term president of Jefferson Parish, entered a guilty plea to conspiracy to commit bribery, wire fraud, and theft concerning programs receiving federal funds, as well as an additional count of theft concerning programs receiving federal funds, announced U.S. Attorney Jim Letten, FBI Special Agent in Charge Michael Anderson, and IRS-Criminal Investigative Division Special Agent in Charge James Lee. Broussard faces up to 15 years’ imprisonment as a result of today’s guilty plea. 

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