It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil's planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.
The U.S. Export-Import Bank tells us it has issued a "preliminary commitment" letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for cash and Petrobras is one of the largest corporations in the Americas.
(More at Website)
Subject: .The Bankruptcy of The United States
United States Congressional Record, March 17, 1993 Vol. 33, page H-1303
THIS IS IMPORTANT!!!!
Speaker-Rep. James Traficant, Jr. (Ohio) addressing the House:
"Mr. Speaker, we are here now in chapter 11.. Members of Congress are
official trustees presiding over the greatest reorganization of any Bankrupt
entity in world history, the U.S. Government. We are setting forth
hopefully, a blueprint for our future. There are some who say it is a
coroner's report that will lead to our demise.
It is an established fact that the United States Federal Government has
been dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1,
Public Law 89-719; declared by President Roosevelt, being bankrupt and
insolvent. H.J.R. 192, 73rd Congress m session June 5, 1933 - Joint
Resolution To Suspend The Gold Standard and Abrogate The Gold Clause
dissolved the Sovereign Authority of the United States and the official
capacities of all United States Governmental Offices, Officers, and
Departments and is further evidence that the United States Federal
Government exists today in name only.
The receivers of the United States Bankruptcy are the International
Bankers, via the United Nations, the World Bank and the International
Monetary Fund. All United States Offices, Officials, and Departments are now
operating within a de facto status in name only under Emergency War Powers.
With the Constitutional Republican form of Government now dissolved, the
receivers of the Bankruptcy have adopted a new form of government for the
United States. This new form of government is known as a Democracy, being an
established Socialist/Communist order under a new governor for America. This
act was instituted and established by transferring and/or placing the Office
of the Secretary of Treasury to that of the Governor of the International
Monetary Fund. Public Law 94-564, page 8, Section H.R. 13955 reads in part:
"The U.S. Secretary of Treasury receives no compensation for representing
the United States."
Ex-Im Bank's Mission
The Export-Import Bank of the United States (Ex-Im Bank) - the official export credit agency of the United States - supports the purchases of U.S. goods and services by creditworthy international buyers that cannot obtain credit through traditional trade and structured finance sources. Ex-Im Bank does not compete with private sector lenders but provides products that fill in the gaps in areas of trade and structured financing. The Bank assumes country and credit risks that the private sector is unable or unwilling to accept, and helps to level the playing field for U.S. exporters by matching the financing that other governments provide to their exporters. In more than 70 years of operation, Ex-Im Bank has supported more than $400 billion of U.S. exports to international markets.
Ex-Im Bank in Brazil: Overview
Ex-Im Bank has had a long-standing relationship with Brazil for more than 60 years. In fiscal year 2004, Ex-Im Bank approved $213 million in support of U.S. exports to Brazil.
Opportunities in Brazil Through Ex-Im Bank
Ex-Im Bank finances purchases for a wide range of sectors, including oil and gas, agriculture, transportation, telecommunications, and textiles.
Brazil's PUBLIC-PRIVATE PARTNERSHIP LAW: The Public-Private Partnership Law, envisioned to promote infrastructure investment of $66 billion, could generate significant business for U.S. suppliers once fully implemented. Ex-Im Bank seeks to identify ways to develop a closer working relationship with the Brazilian Government, particularly BNDES, to finance infrastructure projects under Brazil's PPP Program.
Loan Guarantees in Brazilian Reais. The real has been approved as an eligible currency under Ex-Im Bank's Foreign Currency Guarantee Program. A number of commercial banks are currently reviewing funding mechanisms for real-based guarantees.
Small-and Medium-sized Enterprises: Ex-Im Bank is committed to helping small- and medium-sized Brazilian companies purchase goods and services from the United States.
Environmental Sector: Ex-Im Bank's environmental exports program provides enhanced support for exports of environmentally beneficial goods and services, including water treatment and waste management.
In May, Ex-Im Bank approved a $2 billion preliminary commitment to encourage purchases of U.S. goods and services by Petroleo Brasileiro S.A. (Petrobras), Brazil's national oil company. The amount of a final commitment may be increased above the $2 billion preliminary amount. Petrobras anticipates that it will invest $174 billion in development over the next five years.
A preliminary commitment is issued by Ex-Im Bank to demonstrate that the Bank is interested in providing financing for the types of transactions indicated. Final approval follows receipt of a final commitment application, review by Ex-Im Bank staff and final action by the Bank's board of directors.
In fiscal year 2008, Ex-Im Bank authorized a total of $14.4 billion in financing to support an estimated $19.6 billion of U.S. exports worldwide, including $1.5 billion of exports for oil and gas production projects. The Bank authorized $875 million to support U.S. exports to Brazil last year.
Ex-Im Bank is the official export-credit agency of the United States. The independent, self-sustaining federal agency, now in its 75th year, helps to create and maintain U.S. jobs by financing the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export-credit insurance and direct loans. For more information, visit www.exim.gov.
Originally posted by DYepes
The turth however, as is clearly presented, is that this positive business venture is in essence helping to sustain American jobs and earn interest for our economy. You know a country does not stay in existence by making bad business.