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The Bush Family: A Timeline (cont’d)

(1990- 1999)

1990: Bahrain grants exclusive offshore drilling rights to Harken Oil. GWB sells two-thirds of his Harken stock at top dollar for $850,000 but fails to make a report to the Securities Exchange Commission until March 1991.

One week after Bush’s coup on the market, Harken stock plummets 60 percent. Bush pays off his bank loan for the Texas Rangers.

In August, with the help of the leaders of Kuwait, Saddam Hussein is tricked into invading that country by GHWB. Zapata Oil’s slant drilling from Kuwait is invading Iraqi territory, and Bush does not want Hussein to control world oil markets. The U.S. ambassador assures Hussein that America is neutral in the battle over oil drilling rights between Iraq and Kuwait.

Then, after the invasion, GHWB declares that the world would suffer if all the world’s oil reserves fell into the hands of Saddam Hussein.

GWB is asked to serve on the board of directors of Caterair, a company supported by the Carlyle Group, a powerful investment group with strong ties to the bin Laden family.

1991: GHWB is able to declare the Gulf War under a UN mandate, strengthen the UN, and hike up oil prices. GHWB compares Hussein to Hitler but stops short of toppling the dictator’s regime. Hussein agrees to destroy all chemical and biological weapons. John Sununu, former aide to the White House chief of staff, leaves the Bush administration to work for BCCI.

George W. Bush spends three nights in a Houston hotel so he can claim Texas residency.

1992: The first of Harken Energy’s wells off Bahrain comes in dry. GHWB loses the presidential election to Bill Clinton but becomes an adviser to the Carlyle Group and continues his ties to the bin Laden family. BCCI, which bailed out George W. Bush’s oil company failures, is exposed as a massive international criminal enterprise, laundering money for Panamanian dictator Manuel Noriega, Hussein, many terrorist leaders, and the Medellin drug cartel.

1994: George W. Bush is elected governor of Texas. 1998: GWB becomes the first governor in Texas history to be elected to consecutive four-year terms.

1999: GWB executes his ninety-ninth prisoner and announces that he will run for president of the United States.

 

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The Bush Family: A Timeline (1942-1989)

1942: The U.S. Congress seizes the Bush family’s banking assets by enforcing the Trading with the Enemy Act. Prescott Bush and his father-in-law George Herbert Walker made their fortunes supplying Nazi Germany and the other Axis nations with money, steel, ships, munitions, and formulas for synthetic gas.

1953: George H. W. Bush (GHWB), a World War II hero and 1948 graduate from Yale in the Skull and Bones fraternity, becomes an owner of Zapata Off-shore Oil, which controls a large fleet of oil tankers off the coast of Kuwait.

1968: George W. Bush (GWB) joins the Texas Air National Guard, exempting him from duty in Vietnam, and becomes friends with Jim Bath, a former air force pilot. In that same year, GWB joins Skull and Bones at Yale.

1976: GHWB is named director of the CIA by President Gerald Ford. During his tenure Bush works to cement relations with the Saudi royal family, and he privatizes some CIA assets. GWB’s friend Jim Bath, recruited for the CIA by GHWB, enters into a trust agreement with Salem bin Laden, older brother to Osama, which enables Bath to act as the bin Laden family’s financial representative in the United States. Later, Bath will also represent Khalid bin Mahfouz, a member of Saudi Arabia’s preeminent banking family, owners of the National Commercial Bank, the bank favored by the Saudi royal family.

1978: GWB starts an oil company in Texas called Arbusto 78. Jim Bath invests well over $1 million from Salem bin Laden and Khalid bin Mahfouz in Bush’s fledgling company.

1987: GWB’s oil companies fail, but Harken Energy, a company that has absorbed them, receives a $25 million stock offering underwritten by Bank of Credit top-secret directive that orders closer ties with Iraq and provides $1 billion in new aid for Saddam Hussein. GWB assembles a group of partners who purchase the Texas Rangers baseball franchise.

1989: As the forty-first president of the United States, GHWB authorizes a top-secret directive that orders closer ties with Iraq and provides $1 billion in new aid for Saddam Hussein. GWB assembles a group of partners who purchase the Texas Rangers baseball franchise.

Source: Conspiracies and Secret Societies by Brad Steiger

 

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“The best time to plant a tree was 20 years ago. The second best time is now.” – Chinese Proverb

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Homage to my Hips by Lucille Clifton

these hips are big hips.
they need space to
move around in.
they don’t fit into little
petty places. these hips
are free hips.
they don’t like to be held back.
these hips have never been enslaved,
they go where they want to go
they do what they want to do.
these hips are mighty hips.
these hips are magic hips.
i have known them
to put a spell on a man and
spin him like a top!

 

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Community Property/Separate Property Law and Its Implications (California) Part: 2

…cont’d

Practical Application of the Law:

While filing taxes as married- separate rather than jointly can effectively solve the problem in some states, it will not reduce spousal liability in a community law state, such as California. California is 100% spousal liability, meaning that any and all liability that your spouse might owe, can and will be collected from you. This includes bank accounts/bank levies, for which either you or your spouse are listed (it does not need to be both), wage garnishments (EWO), and liens (which apply automatically to your spouse’s credit, but will also be applied to any property where your spouse is listed on the deed). While a lien does not allow an agency to sell your primary residence, it does allow them a controlling interest in all refinancing or selling that you would like to do on the property. There are no such protections on other properties, not used as a primary residence. Short of life-altering decisions (e.g. moving to another state or remaining single/divorce) there is little you can do to prevent this, when living in a community law state. 

But hope is not lost completely.

My previous post discussed separate property and some ways to establish it, in case of divorce. Similarly separate property is a good way to make sure you and your spouse are secure in your future, if you know that one of you owns a business or is in some other way, more susceptible to incurring liability.

Depending on the type of liability there may be some steps you can take. One solution, is incorporating. If the debt is a business one, it is much more difficult to be held personally liable if you conducted business under a corporation or LLC. This limits the risk of you being held personally liable, but contrary to popular belief, does not eliminate it. The main concern for a corporate officer is a dual determination which is historically hard to prove and is therefore, a last resort. Dual determinations are rarely done unless the party owes a significant debt, which would make it cost-effective. (In my experience this would be considered for balances over $25,000 in some cases, but typically $50,000 and up). The other issue to overcome for agencies attempting to pursue a dual determination is the statute of limitations to complete it, which is 3 years from the determination date.

One that we have probably all heard of is over-seas, or out of state assets. This is generally true but the scope of what is considered “out of reach” depends on the jurisdiction of the agency. (i.e. state liability cannot touch assets located out of state or out of state income/employer who does not have nexus (presence in that state). It is still possible with a referral from the Attorney General, etc. but again, due to the time/work needed to meet all the requirements, it is not common that one would be pursued unless the recovery is huge.

 If you have a pre-marital agreement opting out of the community property of the spouse which you entered into before the tax liability was incurred (or could reasonably be anticipated), then your non-liable spouse’s property would be considered separate and unreachable.  However, since the collecting agency may be unaware of the pre-marital agreement, they would proceed with enforcement against your spouse, leaving you with the task of proving, after the fact, that the levied assets are not community property.

Another fact to take into consideration is that a levy against your wages, also know as an EWO or Wage Garnishment, is typically continuous; that is, one levy against your wages will continue to take the non-exempt portion of your wages until the liability is paid or you get them to stop the levy.  However a levy against your non-liable spouse, however, is not continuous.  This means that a new levy would need to be issued each time it wishes to take your non-liable spouse’s wages, and since it can take months with all the legal procedures that must be adhered to, this gives you ample plan to act/react accordingly.

There are also some cases, such as a debt which was incurred prior to marriage, which can be appealed through various programs (e.g. Innocent Spouse appeal) offered by the collecting agency which they are required to inform you of, if you request that information.

**This is not intended for advice purposes. Reader assumes 100% liability in the application/use of any information herein.

 

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Community Property/Separate Property Law and Its Implications (California) Part: 1

In the state of California, community property is any asset acquired, or income earned, by a married person while living with a spouse. Separate property is defined as anything acquired by a spouse before the marriage, during the marriage by gift, devise, or bequest, and after the parties separate. However separate property is not always as ‘untouchable’ as it is generally deemed, but more on that later.

The law requires that, after the parties legally separate or divorce, the community estate be divided equally if there is no written agreement requiring a particular division of property (a prenuptial agreement). This means that from the total fair market value of the community assets, the joint obligations of the parties are subtracted, yielding the net community estate. Unless agreed otherwise, each spouse must receive half of the net community estate.

How is California community property divided?

The law does not require an “in kind” division of the community property, which would mean you would have to divide each physical object. All that the law requires is that the net value of the assets received by each spouse must be equal. Thus, it is not uncommon for one spouse to be awarded the family residence, with the other spouse receiving the family business and investment real estate, as long as each spouse gets assets that are equivalent in value. Since the total net value of the assets being received by each spouse is equal, such a division is proper.

Ordinarily, it is not difficult to determine whether a particular asset is community or separate property. However, certain types of assets can pose unique problems in this regard, including a business that one spouse owned before marriage and both spouses worked on during the marriage, or property that belonged to one spouse before marriage but was shared during the relationship.

 

Community Property Presumption

In California, there is a presumption that property acquired during the marriage is “community property,” which means the property is owned by both spouses equally (unless one spouse acquired it through an inheritance or gift).

In the most straightforward case, the spouses bought the home together during marriage (using only community property funds) and are both on the title. In this case, the home is community property, and both spouses share an equal interest.

Sometimes, however, facts regarding the ownership of a home are not that simple. For example, in some cases, the title to a home purchased during marriage is in the name of one spouse only. In this situation, the title creates a presumption that the house is separate property and belongs to the spouse whose name is on title.

The other spouse can overcome this presumption by showing that the spouses had an agreement or understanding that the house belonged to both of them, even though they were not both on title. Rebutting the presumption created by title can be very difficult, however, and requires strong evidence that the intent was for the house to belong to both spouses.

Separate Property Owned before Marriage

When a spouse buys a home before the marriage, that home is generally that spouse’s separate property. However, the situation becomes more complicated when the spouse who is not on the title contributes money to the mortgage or pays for home during the marriage. In this case, that spouse would have an interest in the home, which can be significant, especially with a long marriage. One possible remedy to this might be to designate the the spouse not on the deed pays the owner rent/living expenses which can include all expenses including utilities and maintenance, rather than paying money directly towards the mortgage or any utilities which means that the one owning the property. This distinction could be crucial when trying to preserve separate property or diminish a spouse’s ‘interest’ in a home.

**This is not intended for advice purposes. Reader assumes 100% liability in the application/use of any information herein.

 

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Borderline personality disorder (BPD)

Borderline personality disorder (BPD), also known as emotionally unstable personality disorder, is a long-term pattern of abnormal behavior characterized by unstable relationships with other people, unstable sense of self, and unstable emotions. Many diagnosed with this disorder experience an extreme fear of abandonment and a feeling of emptiness, which can result in frequent dangerous behavior and self-harm.

Symptoms (such as splitting) may be brought on by seemingly normal events. The behavior typically begins by early adulthood, and occurs across a variety of situations. Some of the most common symptoms include:

  • Intense sensitivity to rejection or criticism
  • Disturbed sense of identity/ Distorted self-image
  • Marked fear and frantic efforts to avoid real or imagined abandonment and extreme reactions to such
  • Splitting (“black-and-white” thinking)
  • Impulsivity and impulsive or dangerous behaviors
  • Intense or uncontrollable emotional reactions that often seem disproportionate to the event or situation
  • Unstable and chaotic interpersonal relationships
  • Self-damaging behavior
  • Dissociation
  • Frequently accompanied by depression, anxiety, anger/rage, substance abuse, and/or eating disorders

Overall, the features of BPD include unusually intense sensitivity in relationships with others, difficulty regulating emotions, and impulsivity. Other symptoms may include feeling unsure of one’s personal identity, morals, and values; having paranoid thoughts when feeling stressed; dissociation and depersonalization; and, in moderate to severe cases, stress-induced breaks with reality or psychotic episodes.

Untreated BPD increases the risk of self-harm and  some claim that 10% of people with BPD die by suicide.