New York City Mayor Eric Adams has changed his stance on the migrant crisis after an extreme uptick in unpunished crimes against American citizens and is not asking to repeal its sanctuary city status. I do not believe he understands the full scope of the disaster these new arrivals have created regarding the city budget. Still, he is now feeling the public backlash after countless migrants have committed crimes only to be released back into the city to repeat their offenses without consequence.
“The mere fact that we cannot share with ICE that this person has committed three robberies and this person is part of an organized gang crew; there mere fact we can’t say that and communicate, that is a problem for me,” Adams said, adding, “I don’t believe people who are violent in our city and commit repeated crimes should have the privilege of being in our city.” How is this controversial?
Adams first welcomed the migrants bused from Texas with open arms. It was not an issue for non-border states, noting “New York is a city that shares Democratic values.” Diversity is its strength. Adams called any attempt to close the border “un-American” and praised NYC for its sanctuary status. “We are all in this together to deal with this influx of innocent people who are seeking asylum or fleeing wars, who are fleeing crises in their own country,” Adams said. “New York is one of the few states where you have right to shelter,” Adams said in August 2022.
The message was heard loud and clear across the globe; people arrived in the city in droves. By September 2023, Adams cried that the new arrivals would “destroy New York City” but continued to blame Republicans for shipping migrants to the city he declared to be a safe haven for all. Shortly after, Adams began lightly criticizing the Biden Administration for failing to answer his call. He said he would continue to support Biden so long as the federal government kept the money flowing to his city money.
Fast forward to 2024 — New York City is unrecognizable. The shelters are overrun, and the budgets are as imaginary as the tooth fairy. The once great city has become a national embarrassment, with police beaten in broad daylight by attackers who recommitted violent crimes against security days later. New gangsare forming throughout the city. Women and children have been victims of sexual crimes. People are fleeing NYC as fast as they can and taking their tax dollars with them. Adams is still siding with the Democrats and their open border policies, but is asking for the ability to deport violent criminals. Again, this should not be controversial.
Yet the left is saying, “NO!” The city council told reporters that they will not remove or alter the sanctuary city laws. Some are citing the favorite excuse of separating families, despite single men committing the majority of these heinous crimes. It is far too late, Eric Adams. You created this crisis by standing idle as your city was overrun with unvetted criminals from across the world.
Posted originally on Feb 22, 2024 By Martin Armstrong
COMMENT: Hi Martin.
Thanks for the “astute lawyer” compliment. That was very nice, and coming from you, it is very meaningful to me.
The Epoch Times headline in your “NYC Out of Control” post calls the dollar part of the verdict against the Trumps a “penalty.” It has also been called a “fine,” but I haven’t yet seen it called “damages” in a headline. I think Hochul, Engoron, and James know that the amount was based on a damage assessment and calculation that may not hold up. New York Executive Law § 63(12) clearly reads that the attorney general “may apply…for an order…directing restitution and damages…”. [Emphasis mine.]
New York proved math calculations, not actual damages, where the damaged party had to be made whole. Had the statute recited a list of fines, they’d probably be in a more sound position, but their position now is what I would call “too dicey for comfort.” I would seize nothing in this situation because there are too many cases of improper seizures to worry about. The verdicts against those who seize property in error or improperly or hastily in a flawed or tainted case are many times larger than the amount of the money judgment used to seize and sell the property of the defendant.
Furthermore, if New York has someone running the Trump businesses, and should he or she destroy or damage the businesses, the state could be liable for many, many times the amount of the verdict/judgment against the Trump family. Trump could wind up seizing the state capitol, the governor’s residence, etc., plus having his property returned to him. I’ve seen this happen. Once, the State of Louisiana overreached, and once, the U.S. government was a litigant against a billionaire oil man, banker, and friend who could not get the IRS to return his multi-million dollar overpayment of taxes. He finally had enough, and he seized the Hale Boggs Federal Court Building. He got his money a day later.
Perhaps by dancing around exactly what legal principle the amount of the money verdict/judgment is based on (i.e., damages, fines, penalties [i.e., a payment imposed as punishment], whatever), the Hochul, Engoron, James enterprise has walked into a trap. The Eighth Amendment prohibits excessive fines. If they maintain the amount is absolutely based on the principle of damages, how can they show a diminution of the state being “whole” (or “wholeness” if you will) owing to Trump’s actions with third parties. If they maintain the amount of the verdict/judgment is based on a properly enacted and published fine or penalty, then they must face the Eighth Amendment.
In my opinion, Hochul, Engoron, and James are whistling past the graveyard. They have put their careers on the line, and the dice are tumbling.
Best regards, and thanks again.
EGM
REPLY: This is so political it smells, and just because this Judge, who is not qualified to judge a turtle race, simply decrees, they think they are God, and everyone must bow down to them and kiss their ring. It is so rare to find a decent judge in New York. Judge Lawrence McKenna saw what they were doing and tried to protect me. The government went to the Chief Judge to remove him and then sealed the record.
The DA belongs in prison with the governor and this disgusting judge. This DA is bragging that she will now seize Trump Tower. When the computer projected that the 2024 election would be intermixed with serious civil unrest and that neither side would ever accept the outcome, as we draw closer and closer to this date with destiny, it is looking very, very dark indeed.
The computer is projecting a panic cycle in September, rising volatility in October, and October will be a critical turning point heading into the 2024 election. We should no longer have the motto – Gold Bless America – it should be changed to – God Save America. These LEFTIST are destroying the very foundation of law; without that, civilization can no longer exist. That is the testimony of history – not my opinion.
NEW YORK IS DOOMED
Bond investors have piled into New York City’s tax-exempt bonds, lured by their relatively high yields. However, with a $7 billion budget deficit spiraling costs of sheltering asylum seekers and other migrants that have sought refuge in New York on top of this collapse in the rule of law, NYC is a sell – not a buy. Wall Street profits are declining, and with them, there are looming job cuts at major investment banks. Many are migrating to Florida, which puts pressure on city tax revenue. New York’s fiscal outlook is a disaster. That suggests the city’s general obligation bonds aren’t particularly attractive at current valuations – they are a sell.
NYC is totally out of control. These bogus charges were never brought against anyone, and there was no victim. This definition of fraud can be applied now to anyone in NYC. This is obviously an attempt to interfere in the 2024 election, for if Trump had not run for president, there would have been no such charges.
New York is just so UNAMERICAN you can’t make this up. This radical Attorney General not only has Trump BARRED from running his own company, but they also appointed a former organized-crime prosecutor to manage the Trump Organization who has no business capability. The state is attempting to seize total control of the financial assets of Trump without a jury trial to shut him down to prevent him from running for office. Trump was denied the right to defend himself before a jury. They did that to my company, fired all the staff, and then moved to shut it down. Then their appointed receiver became a board member of Goldman Sachs while running my company from their boardroom. This was also all without any right to a jury trial.
This is so outrageous; I fear that Trump’s case will be the catalyst for the decline and fall of the United States. We cannot possibly stand united as a nation under such an outrageous legal system. When the rule of law collapses like this, no nation has ever survived long throughout history. We now can see 2032 coming and why the computer has forecast that there may not even be a 2028 election. They need to stop Trump because they are taking us to War, canceling the paper money, and taxing everything we do for climate change. At the same time, the WHO orders lockdowns and mandatory vaccines as they surrender our sovereignty.
New York City is Completely Out of Control
The integrity of assets is seriously under question. My sincere advice to Trump is to sell all of your NYC assets and get the HELL OF NYC! Nobody should invest in anything in New York City, for there is no rule of law and, even worse, no separation of powers. It is a political dictatorship that you cannot fight for. NO judge in New York City will defend the Constitution and go against their peers.
While truckers known as Chicago Ray started calling on truckers to boycott NYC, all they have to do is target someone, and they will routinely use taxes to go after innocent people as well as journalists if they do not cooperate. Chicago Ray has backed down yet, claiming, “No one’s got to me … I heard what drivers were saying, and I’m hearing some of that today; I ain’t scared of s–t.” I met a former executive from the NY Post who they put in prison because he would not yield to the Deep State. He explained they call with a “favor,” and if you do not comply. They come after you personally. In his case, they claimed he hired people who did not show up to work. New York City is beyond hope.
SELL NEW YORK NOW
I warned that Trump would NEVER get a fair trial in New York City – I have NEVER seen anyone EVER get a fair trial in New York City. When my case began, they brought it to New York when the accounts were in Philadelphia. They claimed there was the COMEX for the venue, so that was good enough even though currencies traded in Chicago. When my lawyer heard they filed the case in New York City, he said of shit. I asked what was the problem. He said you don’t understand. New York practices law differently. Boy, did I find out.
Judges can alter the transcripts and change the words you speak in court. The Court of Appeals ruled they did not have the power to order the judges to obey the law (see UNITED STATES V. ZICHETTELLO 208 F3d 72 (2d Cir 2000) at page 97). A federal statute 18 U.S. Code § 1519 defines that as a felony with 20 years in prison. I forced Judge Oweb to admit he was altering my transcripts, and the DOJ would not indicate him; the Court of Appeals lost my appeal THREE TIMES and then said I was out of time. The ONLY reason they released me was because the Supreme Court agreed to take my case. So they released me and told the Supreme Court the case was moot.
Remember MF Global. That is when Judge Martin Glen seized the assets of all clients to protect the banks that Corsine was trading with. The trustee overseeing MF Global’s liquidation eventually confirmed that the amount of customers’ funds from the failed brokerage was at least $1.6 billion. This was the biggest financial crime, perhaps in history, far worse than Madoff. This is the outright theft of client funds sanctioned by the court, which protected all the bankers. Nobody was being called to account because MF Global, which was headed by former Goldman Sachs CEO, Senator, and New Jersey Governor Jon Corzine, was also protected. The client’s funds were illegally seized by the NY court and were used to cover the losses to the bankers completely in violation of the law.
The collapse was the eighth-largest corporate bankruptcy in U.S. history. The US Regulators investigated only whether MF Global tapped into client money from clients’ accounts as its financial condition worsened. They are ignoring the fact that it was trading with client money before the last few days. Brokerage Houses are required to keep customer money separate from the firm’s money, but that was simply not being enforced in the instant case.
As an astute lawyer wrote in about New York, he correctly pointed out that there is no rule of law, for it is a corrupt city with a “connection-based society,” not a “contract-based society.” Contracts mean nothing in New York, and this is why no bankers ever go to prison there. The courts will always rule against people for political objectives.
In 1951, NY executed an innocent woman they KNEW was innocent. It was April 5th, 1951, when Julius Rosenberg (1918-1953) and his 35-year-old wife Ethel (1915-1953) were sentenced to death using this Espionage Act. Today, everyone concedes that his wife’s crime was simply being married to Julius. The prosecutors charged her, thinking it would force him to give up his contacts, which he never did, most likely because he had none.
A co-defendant of Julius and Ethel Rosenberg, Morton Sobell (1917-2018), admitted for the first time that he was a Soviet spy on his deathbed at 91 after serving 30 years in prison but also made it clear that Ethel was innocent. Sobell passed military secrets to the Communists in World War II when the nations were still allies, he told the New York Times. Sobell, who served 18 years for espionage, said Julius did pass secrets, but Ethel, executed with her husband in 1953, was guilty of nothing more than being Mrs. Rosenberg.
Under our legal system, the Jury can nullify the conviction using common sense based on their own sense of justice. Our corrupt judges will never instruct the jury that they have that power. The JURY can refuse to follow the corrupt law and acquit a defendant even when the evidence presented seems to point to an incontrovertible verdict of guilt. Personally, I think the Jury should be told that they have the power to nullify a conviction as well as to direct charges and reprimand the prosecutor in such a case for his abuse of power.
All I can say is GET THE HELL OUT OF NYC before there is NO BID!
It’s a Sanctuary City and Taxes will Only Rise to Pay for the onslaught of uneducated illegal migrants.
Posted originally on Feb 20, 2024 By Martin Armstrong
You are absolutely not safe in New York. Both physically and financially. If the criminals don’t get you, the “courts” and politicians will. Please, please, get out if you can. They will come for you next as they grow more desperate for your money and your business. Get out. Let…
Posted originally on Feb 20, 2024 By Martin Armstrong
The reaction to this bogus decision against Trump is just overwhelming. I cannot even tell you how many emails have come in, all getting the point and confirming it is time to get the hell out of New York. They have shown the entire world that no rule of law is left standing.
As an international hedge fund manager, the #1 assessment you need to make is COUNTRY RISK. Is it safe to invest there, and is there a robust rule of law that you can count on to secure your investment? That is why you do not invest in countries like Iran, for they had their revolution and nationalized all private assets. Russia did the same during the Communist Revolution of 1917.
Even during the American Revolution, they confiscated the assets of anyone who supported the king. Those confiscated assets became the backing for currency.
Now we have City & State Risk. There is already a mass migration underway from Blue States to Red States. This will only accelerate this advance. I am warning clients that the longer they wait to have property to sell in NYC, the greater the loss they will face. Sell now before there is no bid.
The Rule of Law has completely collapsed in New York City. It is no longer investment grade for there is no possible way to secure your property. One lawyer who wrote in, and here are his comments, which need to be reviewed carefully:
Hi Martin.
I have three things to pass on to you:
First, you are absolutely correct. Does the majority of the New York business community really know what Judge Engoron did? … Engoron and Hochul confirmed that New York is a “connection-based society” not a “contract-based society,” or, as you say “corrupt to its core.” All the assurances by the Governor Hochul that businesses should not fear the civil action the state filed against Trump and the money judgment Engoron rendered, and that there’s nothing to worry about, is just another confirmation that New York is now completely a “connection-based society.” The governor even confirmed that she could, but won’t, overrule Engoron proving that in New York the branches of government are intermixed. … Hochul does not realize that her comments were damaging not reassuring. What fool will trust her and New York now. My solution: Sell all equities of companies that have their headquarters or domicile where they could be subject to the jurisdiction of New York and can be sued under the same laws Trump was.
Second, it is a correct move to challenge the definition of “fraud.” In the mid-1980s I was lead plaintiff’s counsel in the first civil RICO suit filed against a financial institution in … . The case was allotted to a judge like Engoron. That judge ran me through the ringer, but I kept the case alive. At one point the court was toying with the question “What is fraud?” The court was trying to find yet another way to dismiss the case and require me to re-plead it. I did a massive study of fraud. I even read John T Nonan’s book entitled Bribes. The definitions of fraud in our state and federal courts are too many to count, but I finally boiled it down to the essential elements, i.e., all those that absolutely MUST be present or there is no fraud.
This is the definition I found that applies to ALL cases no matter how the elements are worded is this: FRAUD IS THE VOLUNTARY TRANSFER OF SOMETHING OF VALUE BY DECEIT. The occurrence sued on and alleged to be fraud MUST be (1) VOLUNTARY, (2) A TRANSFER, (3) OF SOMETHING OF VALUE, (4) BY DECEIT. If any of these four elements are missing, it’s not fraud. Obviously, New York is missing the transfer element which, I think, makes each of the other elements a non sequitur and meaningless.
Third, cities and states have found new ways to increase revenue by twisting laws and our basic societal framework of separate branches of government. As you have long maintained, they are on a hunt for taxes. From 2000 to 2005 I was a Deputy City Attorney for the City …. We handled the civil legal affairs of the city, not the criminal cases. After I left, … , a lawyer contacted me and asked me to analyze the facts of a case he thought he had. I found that … had changed its procedures regarding blighted property to avoid the courts of the judicial branch. The city established a list of huge fines for properties that were cited with code violations. The fines accrued interest after a certain time period passed, and the property owner did not correct the violations.
The procedure was unconstitutional because no judge EVER reviewed or had ANY role in the proceedings to collect the fines and interest. A hearing officer (executive branch) would assess a fine and give the property owner a specific amount of time to correct the violations. He would prepare and sign an “administrative” judgment setting forth his findings, rulings and assessing the fine plus interest. If the time elapsed and the violations were not remedied by the property owner, the Clerk of Court (executive branch, ministerial powers only, no judicial powers) of the state court in … would issue a request for seizure and sale to the … Civil Sheriff (executive branch, ministerial powers only, no judicial powers).
The Civil Sheriff would issue an order of seizure and sale and the property would be auctioned off to the highest bidder. The fines plus interest were always high enough that the property owner could not pay same, but low enough that someone with capital could pick up the properties at a very, very cheap price. The “laws” that established this procedure were mostly ordinances passed by the … City Council, which was the wrong authority to approve a seizure and sale that was not reviewed and signed by a duly elected or appointed state court judge. Cities are not separate sovereigns with the right to enact general laws, like causes of action and shifting judicial powers to authorities that have only ministerial executive duties.
So, intermixing branches of government and shifting and assuming powers that states and cities cannot exercise are not the only scams being used to collect money. States and cities are doing end runs around Constitutional principles. New York did it by giving the court the power to calculate general damages rather than enacting legislation reciting a list of fines that the state may impose for business improprieties. The state courts would then just include the fine that applies under the circumstances that was set by the state legislature. That would be Constitutional, but having the freedom to assess unspecified damages that the state does not suffer is absurd.
To summarize, no transfer = no fraud, and no fines set by the legislature to assess replaced by the power to impose general damages = a sham system that is a blurred mixture of the executive branch and the judicial branch.
Posted originally on Feb 19, 2024 By Martin Armstrong
I cannot stress enough that many businesses have been put on notice – get the hell out of NY ASAP! After Judge Engoron’s ruling, even the absurd Democrat Governor Kathy Hochul has been forced to come out because of rumblings of mass migration from NYC to Florida, where companies are welcome and there is no State Income Tax. There have been warnings that businesses are looking elsewhere and realizing that there is a MAJOR risk to doing business in New York state as a whole. Hochul has publicly been forced to try to reassure businesses that they have “nothing to worry about” after the ruling.
It appears that Socrates has predicted the outcome of Trump’s absurd prosecutions in New York, for it elected a Yearly & Quarterly Bearish Reversal on State revenues. New York will continue to lose high-net-worth residents, resulting in rising taxes on the fools that remain. There is no rule of law left in this city. Fining Trump for “fraud” when there were no victims and whatever you claim to be worth is reviewed independently by a bank anyway. Even Deutsche Bank admitted they gave the loans based on their own evaluations. – not Trump’s.
Posted originally on Dec 8, 2023 By Martin Armstrong
The Metropolitan Transportation Authority (MTA) believes that taxation could decrease traffic congestion in New York. Vehicles will be charged an additional $15 daily to enter Manhattan from 60th Street or below, while trucks will face a fine between $24 and $36. New York Gov. Kathy Hochul strongly backs the measure as she believes it will help to clean up New York.
“Congestion pricing means cleaner air, better transit and less gridlock on New York City’s streets and today’s vote by the MTA Board is a critical step forward,” Hochul commented. As a reminder, New York City just voted to slash funding for sanitation. It is not an exaggeration to say that the city is overrun with rats. The police budget is declining by $5.6 billion as well at a time when crime is through the roof and the city’s infrastructure is crumbling as busloads of illegals arrive daily.
Do they want to utterly kill the leisure and hospitality industry? As a previous resident of New Jersey, I saw the tolls into New York rise over the years. It now costs a good $20 in tolls simply to cross into the state, and parking fees in the city are some of the highest in the nation. Now you have to factor in an added daily congestion fee and it will cost the average person a good amount simply to enter Manhattan.
Obviously they want people to rely on public transportation as the coming 15-minute cities will not require personal vehicles. Taxis will charge passengers an extra $1.25 to meet the toll while Uber and Lyft plan to implement a $2.50 fee. People earning under $50,000 annually can apply for a discounted rate only after their first 10 trips per month.
They’re banning coal and wood ovens so there will soon be no reason to stop in the city for a slice of pizza or world famous cuisine. Former grand hotels are now migrant camps and thousands of undocumented military aged men are scattering the streets. Crime is rising and Soros-backed DAs won’t allow criminals to be prosecuted. The people of New York will never see the money derived from this new tax. Yet another reason why I will never return to NYC.
Posted originally on Nov 28, 2023 By Martin Armstrong
Gov. Kathy Hochul is a menace who is setting fire to what remains of the once beloved state of New York. Hochul is responsible for rule 2.13 and is one of the most obnoxious vaccine supporters on the world stage. Hochul is supported by the same people who donated to Andrew Cuomo, and she is full support of the Build Back Better agenda.
That is why she is passively allowing the state to burn. The light on crime policies has led to a drastic uptick in crime across the state. Both Republicans and Democrats attempted to pass a bill to curb theft but Hochul shot it down, stating the requested $35 million was not in the budget. Theft in NY has increased by 64% over the past four years.
In the city, Eric Adams recently declared that funding to the police department would diminish due to recent budget cuts. It is fair to say that they deliberately want to make the state a hostile environment as they are effectively warding off tourism and business development.
Recent data suggests that New York as a whole lost $4.4 billion in 2022 due to organized retail theft. This is not limited to NYC. Places like Syracuse reported a 55% rise in shoplifting over the past two years. “That number is likely higher because businesses often don’t report it — but they do continue to express concerns,” Syracuse Police Chief Joe Cecile said. One pharmacy in Syracuse lost a quarter-million alone due to theft. Store owners have been seriously assaulted or killed. Yet, Hochul believes there should be harsher penalties for the unvaccinated than for criminals.
So thieves are stealing over $12 million daily from New York retailers. The budget for a preventative organization (not that it is the solution) would be equivalent to a mere three days of theft. Thousands of people and their tax dollars have already fled the state due to their poor policies. The businesses are following, and what will be left? Government-run grocers and 15-minute cities? That is the ultimate goal behind allowing this type of crime to occur without punishment.
QUESTION: You have not commented on Trump’s NY case. What do you think of this case?
EK
ANSWER: It is a typical New York rigged trial. NOBODY ever gets a fair trial in New York. It is a cesspool of legal corruption. Judge Arthur Engoron is a national disgrace. When Trump’s lawyer Habba stood up to defend Trump, stating that the Engoron needed to “hear what he has to say.” The judge quickly scolded Habba, telling her, “I’m not here to hear what he has to say. He’s here to answer questions.”
He has already determined that everyone is guilty. This is about how much he can take from Trump and his family. They claim Trump should have paid $168 million more in interest. This is so absurd; it is just unimaginable.
In Securities Law, this applies between a professional and a member of the public. If I managed money for a major public corporation and said I wanted 50% of the profits, and they agreed, that is not fraud because, between two professionals, it is presumed they knew what they were doing.
This is not bank fraud, where the loans are paid off. The bank has its own assessors. They would have looked at the collateral listed and lent money on that and must have done their own diligence. For this case to even proceed is outrageous, for you could then scrutinize every loan ever made in New York City and claim that someone overvalued their house when they borrowed.
The ENTIRE world knows this is to interfere in the 2024 election. Both Argentina and Brazil said that a great idea and are doing the same to their opponents. As I have said, the computer is projecting massive civil unrest post-2024. It does not matter who wins the election; NEITHER side will accept the conclusion. I would NOT want to be in New York City post-election. This judge may have sealed the fate of New York City once and for all.
Any rational businessman should now avoid New York City for doing any business whatsoever.
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