50 USC CHAPTER 35 - INTERNATIONAL EMERGENCY ECONOMIC POWERS
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50 USC CHAPTER 35 – INTERNATIONAL EMERGENCY ECONOMIC POWERS

50 USC CHAPTER 35 – INTERNATIONAL EMERGENCY ECONOMIC POWERS

By James Smith – 8 Jan 2012

English: Seal of the President of the United S...

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I saw the link below about the economic emergency plans by the US Government, and I realized this is NOT A GOOD thing.

Here is a snippet:

(a) Any authority granted to the President by section 1702 of
this title may be exercised to deal with any unusual and
extraordinary threat,
which has its source in whole or substantial
part outside the United States, to the national security, foreign
policy, or economy of the United States, if the President declares
a national emergency with respect to such threat.
(b) The authorities granted to the President by section 1702 of
this title may only be exercised to deal with an unusual and
extraordinary threat with respect to which a national emergency has
been declared for purposes of this chapter and may not be exercised
for any other purpose. Any exercise of such authorities to deal
with any new threat shall be based on a new declaration of national
emergency which must be with respect to such threat.

So what does section 1702 have to say?

(a) In general

(1) At the times and to the extent specified in section 1701 of

this title, the President may, under such regulations as he may

prescribe, by means of instructions, licenses, or otherwise –

(A) investigate, regulate, or prohibit –

(i) any transactions in foreign exchange,

(ii) transfers of credit or payments between, by, through, or

to any banking institution, to the extent that such transfers

or payments involve any interest of any foreign country or a

national thereof,

(iii) the importing or exporting of currency or securities,

by any person, or with respect to any property, subject to the

jurisdiction of the United States;

(B) investigate, block during the pendency of an investigation,

regulate, direct and compel, nullify, void, prevent or prohibit,

any acquisition, holding, withholding, use, transfer, withdrawal,

transportation, importation or exportation of, or dealing in, or

exercising any right, power, or privilege with respect to, or

transactions involving, any property in which any foreign country

or a national thereof has any interest by any person, or with

respect to any property, subject to the jurisdiction of the

United States; and.(!1)

(C) when the United States is engaged in armed hostilities or

has been attacked by a foreign country or foreign nationals,

confiscate any property, subject to the jurisdiction of the

United States, of any foreign person, foreign organization, or

foreign country that he determines has planned, authorized,

aided, or engaged in such hostilities or attacks against the

United States; and all right, title, and interest in any property

so confiscated shall vest, when, as, and upon the terms directed

by the President, in such agency or person as the President may

designate from time to time, and upon such terms and conditions

as the President may prescribe, such interest or property

shall be held,used, administered, liquidated, sold, or

otherwise dealt with in the interest of and for the

benefit of the United States, and such designated agency

or person may perform any and all acts incident

to the accomplishment or furtherance of these purposes.

 

Gee, with NDAA and other laws, what is yours, is theirs.

 

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