:: Black Market Gold News ::

:: Saturday, October 22, 2005 ::

His curse and the Heaven of his God.

"I pray that if he is a religious man, that he then truly believes in the story of his God. That then when the day comes that he leaves his earth body -- just like each of us too must one day eventually leave our earth bodies, that he will then find himself in the great warm light of Heaven, forever. Pefectly contained, immersed in everlasting peace, the ability to create no longer an option, rendered moot, before the sacrificial alter." ~~ author unknown.

Behold, now, a curse created by Bob Morgenthau and cast upon Thinh Tran of Manahattan and all the honorable, hard-working, and honest, people who availed themselves of Tran's high quality and much less expensive services:

~~~

Manhattan District Attorney Robert M. Morgenthau announced today [October 3, 2005] the conviction, by guilty plea, of a 59-year old man on charges of Attempted Enterprise Corruption, and four related companies on Banking Law violations, related to the operation of a network of unlicensed money transfer businesses in Manhattan.

The defendant, THINH Q. TRAN, owned and operated four unlicensed money transfer businesses in Chinatown and Chelsea. Over the past five years, TRAN used these businesses to provide customers a means and method of moving almost $100 million to Vietnam anonymously, in the face of federal and state regulations requiring their identification, and the scrutiny of their transactions for suspicious activity. TRAN has been operating unlicensed money transfer businesses in Manhattan since 1987.

As detailed in the attached Superior Court Information, money transfer businesses are obligated under federal and state law to develop and implement an effective anti-money laundering program, to file suspicious activity reports with law enforcement if suspicious activity is identified, and to screen customers' identification against lists of known terrorists and narcotics traffickers.

TRAN allowed his customers to move money to Vietnam without any scrutiny for suspicious activity whatsoever, in return for a fee. During the period TRAN's businesses were in operation, none of them filed a single suspicious activity report, and none of them screened any customers against the lists of known terrorists and narcotics traffickers - effectively providing an open window for the proceeds of crime to escape the country. In addition, TRAN purposefully structured customers' transactions to avoid federal and state record keeping requirements.

The investigation leading to the indictment revealed that TRAN's business plan included using agents in Hawaii, Canada and Atlanta to collect monies that the agents then forwarded to TRAN's New York businesses to be sent to Vietnam.

Mr. Morgenthau said, "Unlicensed money transmitters provide those who wish to conceal the proceeds of criminal activities, including narcotics trafficking and terrorist financing, an open window through which to conduct their illegal business. Today's guilty plea is part of this Office's continuing investigation into money laundering and illegal wire transfer businesses. To date, the Manhattan District Attorney's Office has prosecuted a number of these financial businesses which have been involved in wiring more than $7 billion illegally."

Mr. Morgenthau thanked the New York State Banking Department and Superintendent Diana Taylor, Regina Stone, Deputy Superintendent of Banks, and John Dinin, the Director of Criminal Investigations for the Banking Department.

Defendant TRAN pled guilty to Attempted Enterprise Corruption, a violation of Penal Law Sections 110/460.20(1)(a), a class "C" felony punishable by up to 15 years in prison. Each of TRAN's four businesses, listed below, pled guilty to Operating as an Unlicensed Money Transmitter, which is a violation of New York Banking Law § 650(2)(b)(1) and a class "E" felony.

Defendant Information:

THINH Q. TRAN, 5/4/46
30 WATERSIDE PLAZA
NEW YORK, NY 10010

VINA U.S.A. INC.
80 FIFTH AVENUE, SUITE 1104
NEW YORK, NY 10013

VINA EXPRESS CORP.
80 FIFTH AVENUE, SUITE 1104
NEW YORK, NY 10013

SAIGON CENTER INC.
150 LAFAYETTE STREET, ROOM B-07
NEW YORK, NY 10013

SAIGON EXPRESS INC.
150 LAFAYETTE STREET, ROOM B-07
NEW YORK, NY 10013

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:: Black Leprecon :: goldlink ::
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The Extended Custodial Inventory Program...

of the Federal Reserve Bank of New York.

The Extended Custodial Inventory Program serves as a means to facilitate the crossborder distribution of US Federal Reserve Note fiat currency unit notes, permit the repatriation of old-design US Federal Reserve Note fiat currency unit notes, promote the recirculation of fit new-design US Federal Reserve Note fiat currency unit notes, and strengthen the US agents' information gathering capabilities on the crossborder use of US Federal Reserve Note fiat currency unit notes and sources of US Federal Reserve Note fiat currency unit note counterfeiting abroad. Extended Custodial Inventory facilities function as overseas note holding/storage depots operated by private sector commercial banks. These banks hold US Federal Reserve Note fiat currency unit notes for the Federal Reserve Bank of New York on a custodial basis and earn a profit for engaging in this business*.

*Ed. Note: - Exactly how profitable is not known by this reporter.

It is estimated that as much as two-thirds of the value (so-called) of all US Federal Reserve Note fiat currency unit notes in circulation, (or over 400,000,000,000 of the 680,000,000,000 US Federal Reserve Note fiat currency units - in note form - now in circulation), is held on landmasses not called "USA." The billions of US Federal Reserve Note fiat currency unit notes held overseas represent a financial benefit to US Taxpayers*.

*Ed. Note: - How now brown cow?

While many financial institutions trade US Federal Reserve Note fiat currency units by means of their computers in the foreign exchange markets, no more than thirty institutions worldwide participate in the wholesale buying and selling of the physical form of the US Federal Reserve Note fiat currency unit -- namely, the note. At the present time, the principal hubs for the distribution of US Federal Reserve Note fiat currency unit notes are: Frankfurt, London, Zurich, Hong Kong, and Singapore. Wholesale US Federal Reserve Note fiat currency unit note dealers purchase approximately 90 percent of the US Federal Reserve Note fiat currency unit notes that are exported to international markets from the Federal Reserve Bank of New York.

Working with the U.S. Department of the Treasury, the Federal Reserve Bank of New York introduced the Extended Custodial Inventory Program as a pilot in 1996 to aid in the introduction of the new-design "100" US Federal Reserve Note fiat currency unit note, and in recognition that an assured supply of US Federal Reserve Note fiat currency unit notes abroad would help to alleviate any uncertainty that might have been associated with a new design. The pilot program succeeded in ensuring the orderly introduction of the new-design US Federal Reserve Note fiat currency unit notes by providing ready supplies of such notes, particularly in the European and former Soviet Union markets.

After the successful introduction of the new-design "100" US Federal Reserve Note fiat currency unit note, the primary purpose of the Extended Custodial Inventory Program shifted to enhancing the crossborder distribution of US Federal Reserve Note fiat currency unit notes. The Extended Custodial Inventory Program was placed into full operation in January of 1998 with Extended Custodial Inventory Program facilities in London, Frankfurt, and Zurich, and soon thereafter, Hong Kong. In 2000, an Extended Custodial Inventory Program facility was established in Buenos Aires, but the site was closed in February 2002 because of unpredictable [sic] economic and political conditions. The Singapore Extended Custodial Inventory Program started operation in 2002. Currently, a total of eight Extended Custodial Inventory Program facilities are operated in five cities by five banks: American Express Bank (London), Bank of America (Hong Kong, Zurich), HSBC (London, Frankfurt, Hong Kong), Royal Bank of Scotland (London), and United Overseas Bank (Singapore).

The Federal Reserve Bank of New York manages the Extended Custodial Inventory Program and provides management oversight and monitoring of it. The Federal Reserve Bank of New York (FRBNY) coordinates the shipment and receipt of US Federal Reserve Note fiat currency unit notes between FRBNY offices and the Extended Custodial Inventory facilities. All US Federal Reserve Note fiat currency unit notes contained within an Extended Custodial Inventory facility vault and while being transported between the Federal Reserve Bank of New York and an Extended Custodial Inventory facility vault, remain on the books* of the Federal Reserve Bank of New York. When US Federal Reserve Note fiat currency unit notes are withdrawn from an Extended Custodial Inventory facility vault to fill a US Federal Reserve Note fiat currency unit notes order to third parties, or for an Extended Custodial Inventory facility operator’s use, the Extended Custodial Inventory facility operator’s account at the Federal Reserve Bank of New York is debited accordingly. When US Federal Reserve Note fiat currency unit notes are deposited into an Extended Custodial Inventory facility vault to augment the Federal Reserve Bank of New York's inventory, the operator’s account at the Federal Reserve Bank of New York is credited.

*Ed. Note: - Banking 101 Ladies and Generals. It's all about the booking-keeping entries. The quintesential information-worker labor of luv and extremely high margins.

The relationship between Extended Custodial Inventory facility operators and the agents of the Federal Reserve Bank of New York is governed by two instruments: (1) the Extended Custodial Inventory Program Agreement and the Manual of Procedures for the Extended Custodial Inventory Program. From the start of the Extended Custodial Inventory Program, the Extended Custodial Inventory Program Agreement has specifically prohibited Extended Custodial Inventory facility operators from engaging in transactions affecting Extended Custodial Inventory Program inventory with entities sanctioned by the Office of Foreign Assets Control. In addition, since the beginning of the program, the Extended Custodial Inventory Program Agreement and the Manual of Procedures for the Extended Custodial Inventory Program have required Extended Custodial Inventory facility operators to provide the Federal Reserve Bank of New York with monthly reports showing all countries that engaged in US Federal Reserve Note fiat currency unit note transactions with the operator during the preceding month and the volume of those transactions.

The Extended Custodial Inventory Program facilitates the crossborder distribution of US Federal Reserve Note fiat currency unit notes by maintaining sufficient inventory of US Federal Reserve Note fiat currency unit notes in strategically located crossborder distribution centers. The Extended Custodial Inventory facility operators also are a key part of the Federal Reserve Bank of New York efforts to distribute US Federal Reserve Note fiat currency unit notes to the major global financial markets during times of crises. Shortly after the massacres which took place on September 11, 2001 (i.e., for left-to-right readers, this is the day of the right-hand side bookend (9-11 (2001)), with the left-hand side bookend being the day of 11-9 (1989), the day on which access over and through the Berlin Wall could be accomplished with relative freedom from coercion from West German, East German, US, British, France, and Soviet Union agents), when air transportation was seriously disrupted, having US Federal Reserve Note fiat currency unit notes already positioned at the Extended Custodial Inventory facilities helped enable the Federal Reserve Bank of New York to continue satisfying crossborder demand for US Federal Reserve Note fiat currency unit notes in the major financial markets without any interruption of service.

In addition to its role in crossborder US Federal Reserve Note fiat currency unit notes distribution, the Extended Custodial Inventory Program is critical to ensuring the quality of US Federal Reserve Note fiat currency unit notes abroad. Extended Custodial Inventory facility operators are required to sort US Federal Reserve Note fiat currency unit notes purchased from market participants both by old- and new-design and into fit and unfit notes. These requirements ensure that old-design and unfit notes are removed from circulation in a timely fashion. Extended Custodial Inventory facility operators are also responsible for authenticating US Federal Reserve Note fiat currency unit notes purchased in the market. Therefore, the Extended Custodial Inventory facility operators detect counterfeit US Federal Reserve Note fiat currency unit notes as they circulate in significant offshore money markets, and quickly report information on the geographic sources of these counterfeit notes to the Secret Service.

Finally, the information provided by the Extended Custodial Inventory facility operators to the Federal Reserve Bank of New York regarding country level flows of payments, and receipts of US Federal Reserve Note fiat currency unit notes, has given the US agents a valuable tool for estimating stocks and flows of US Federal Reserve Note fiat currency unit notes abroad, particularly for countries about which little information was available previously.


:: Black Leprecon :: goldlink ::
...

Real-life Examples of Perpetual Travelers.

"He was a citizen of the world, with allegiance to none but himself."

These inviduals are true folk heros and visionaries in my book.

Take a stand for something and all the slanders hurled at you are harmless and meaningless.


:: Black Leprecon :: goldlink ::
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