I wanted to document some important events that are occurring to understand business and constitutional law as well as finance and how money will flee for safety. It is also important for our freedom and something we can pass on to the next generation.
With that said, rule of law in New York appears to have been exposed and with that… there may be many consequences.
Recently, Donald Trump’s court case was based in New York with the following people involved.
- Judge Arthur F. Engoran
- Gov Kathy Hochul
- DA Letitia James
The results appears to have Trump penalized with the following:
- Fined for some 350+ Million
- He, his children, and officers no longer can run a business in New York(3 yrs)
- If Trump can’t pay fine, Attorney General states she may seize Trumps buildings
Consequences of This Historical Event:
Keep in mind, this is a person who is running for president. What is really interesting is the external repercussions that may occur in the future or already in the process of happening.
1 – NO CONFIDENCE – NO INVESTING IF NO RULE OF LAW
The reason why no one invests in Iran is that at any moment their Government can seize your property. Well… what if you have a multi million dollar investment or a company headquartered in New York and you want to vote for the wrong party. Guess what… there is risk there now.
This means… all public trading companies whose headquarters are in New York may have risk. You may want to check your portfolio to see if they have these NY based companies.
2. TRUCKER PROTESTS – NO SUPPLIES INTO THE CITY
There appears to be truckers who may protest the event. This means that no supplies could get into New York for delivery. Keep in mind, New York only has about 7 to 14 day worth of supplies worth of food and goods. This would create serious problems if they did not get their deliveries.
This Trucker Protect may be likely…
3. NO TAX REVENUE / NO BOND BUYERS
New York municipals have high interest bonds that may now see serious selling occur. This means as people leave there is less tax revenue. Then there may be no bid for the bonds in New York. Yikes… no one will buy New York debt. This means that the city may have risk on paying back it’s bond holders! More risk!
4. EIGHTH AMENDMENT: COULD TRUMP SEIZE NY BUILDINGS?
Okay, this was interesting… and had to be written just so I can learn from it. While I am not a lawyer I am reading research from NY lawyers and here is what they shared in a simpler form (so I can understand it).
With that said… here is something to consider:
- So far no word of ‘damages’ in the case verdict
- Verdict against Trump been called “fine” and/or “penalty”
Well… New York Executive Laws § 63(12) reads that the attorney general “may apply…for an order…directing restitution and damages…”
The assessment of the fine was based on “damages“.
NY proved math calculations… not damages, where the damaged party had to be made whole. If they recited list of fines, it may be more secure position for NY. But… this may backfire or be a trap (especially if they seize Trumps property).
Remember, the AG stated if Trump did not pay the fines, they could seize Trumps business and assets in NY.
Well, if someone running those Trump businesses and should that person destroy or damage the business. The state could be liable for many multiples over the amount of the verdict!
This means, Trump could wind up seizing the state capital building, governors residence, and have his property returned to him. This has happened in Louisiana where the Govt litigated against a billionaire oil man, banker. This person could not get the IRS to return his multi-million dollar overpayments of taxes. So he had enough, and seized Hale Boggs Fed Court Building. He got his money a day later.
It could mean… NY not stating what exact penalty the verdict was based on (ex. Damages, fines, penalties) they could of walked into a trap.
Keep in mind… if they state the case on fine or penalty… NY must face the Eighth Amendment (“Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.”)
Let’s see how this goes… but right now NY, it’s bonds, and real estate are high risk IMO!