U.S drug officials smash huge steroid ring

U.S drug officials smash huge steroid ring
Malaysia Sun
Tuesday 25th September, 2007



The U.S Drug Enforcement Agency has smashed an enormous illegal steroid ring.

Following a two-year investigation that spanned 10 countries, Operation Raw Deal
has cracked down on every aspect of drug dealing, including manufacturing,
distribution and purchase.

Some 56 steroid labs have been closed and millions of steroids of Chinese origin
have been seized.

DEA agents attacked the illegal steroid industry in a strategy that focused on
raw material manufacturers and suppliers in China, underground laboratories in
the U.S, Canada and Mexico and U.S-based websites that promote bodybuilding
discussion boards.

The DEA said the internet chat rooms were the catalysts for body-buiders to
access the enhancement drugs, including anabolic steroids.

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By Chinese Government Pay Your Debts, 09-25-07, 02:12 AM
U.S drug officials smash huge steroid ring
Regarding the endorsement of U.S. citizens' claims for payment by Chinese
Government of defaulted Chinese bonds. (Introduced in House) HCON 160 IH 110th
CONGRESS 1st Session H . CON . RES . 160 Regarding the endorsement of U.S.
citizens' claims for payment by Chinese Government of defaulted Chinese bonds.
IN THE HOUSE OF REPRESENTATIVES May 24, 2007 Mr. LINCOLN DAVIS of Tennessee
submitted the following concurrent resolution; which was referred to the
Committee on Financial Services ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? CONCURRENT RESOLUTION Regarding the endorsement
of U.S. citizens' claims for payment by Chinese Government of defaulted Chinese
bonds. Whereas China issued full faith and credit long term (e.g. 47 years)
sovereign government bonds from 1913 through 1938, with the following language
printed on the face of each of these bonds and the original loan agreement,
`These obligations are intended to be binding upon the Government of China and
any successor government', and were sold to investors based upon these
representations; Whereas the established conventions of international law with
respect to the obligation of a successor government to honor the full faith and
credit sovereign obligations of a predecessor government is a fundamental tenet
of international trade and commerce; Whereas on March 31, 1921, the New York
Times advertised the sale and purchase of these bonds on behalf of Cowen &
Company to United States citizens; Whereas on April 20, 1921, the New York Times
published a display ad advertising these bonds for sale to United States
citizens on behalf of Pynchon & Company, a registered member of the New York
Stock Exchange; Whereas on April 26, 1921, the New York Times advertised the
sale and purchase of these bonds to United States citizens on behalf of Bull &
Eldredge, a registered member of the New York Stock Exchange; Whereas on May 22,
1921, the New York Times published an advertisement for the sale and purchase of
these bonds to United States citizens for Ernest Smith & Company-Dealers in
Foreign Government Bonds; Whereas on October 18, 1924, the New York Times
published the `Bid and Asked quotes', for these bonds; Whereas on November 11,
1932, the New York Times published the price and yield of these bonds for the
previous days trading; Whereas China defaulted on all of its public debt in
1939; Whereas the People?s Republic of China (in this resolution referred to as
`PRC') became the official government of China, assuming its assets as well as
its liabilities in 1949; Whereas in 1955, the People?s Republic of China issued
an official communique from the Minister of Foreign Affairs and the Minister of
Finance addressed to all Chinese embassies around the world advising that the
PRC had not the ability to pay this debt burden (U.S. translation from Mandarin
Chinese); Whereas the People?s Republic of China replaced the Republic of China
in the United Nations as the officially recognized government of China on
November 23, 1971, and was subsequently recognized as the government of all
China; Whereas in 1979, the Chinese Government negotiated a Treaty with the
United States providing compensation to U.S. Nationals who suffered a taking of
property by the government of the PRC. Because no positive action was taken as
of the date of the Treaty by the government of the PRC, with respect to the
debt, the bonds were excluded from the scope of the Treaty, (Title V of the
International Claims Settlement Act does not provide any statutory authority for
the Foreign Claims Settlement Commission to address takings prior to 1949,
therefore, lacking authority to negotiate the settlement of the defaulted bonds
of the PRC); Whereas in 1983, the People?s Republic of China, Minister of
Foreign Affairs issued an official Aide Memoire to the United States Department
of State asserting that the PRC should have no obligation to pay the debts and
advising that they would hold the U.S. Department of State and the United States
Government responsible should the PRC be required to honor this debt and
demanded that the PRC be protected from suit in United States Courts on this
issue citing a mandate of Sovereign Immunity Protection for the PRC, which has
subsequently continued to be upheld in the United States court system; Whereas
the government of the People?s Republic of China concluded a discriminatory
settlement of these bonds with respect to British bondholders in 1987, and which
excludes United States bondholders from participation. This is known as the 1987
China-Brit Treaty; Whereas on May 24, 2000, the United States granted Permanent
Normal Trade Status to the People?s Republic of China; Whereas on December 22,
2000, notices from the law firm of Stites & Harbison were submitted to the
United States Securities and Exchange Commission (in this resolution referred to
as `SEC'), the White House, United States Department of State and the Federal
Trade Commission seeking their assistance in the collection efforts of China?s
defaulted sovereign debt; Whereas on January 29, 2001, U.S. Senator Bill Frist
sent written notice to the SEC expressing support of this collection effort and
requesting the SEC to actively assist on this issue; Whereas on June 13, 2001,
the SEC, working jointly and collectively with the State Department, the
National Security Council and the Senior Associate Counsel to the President
recommended seeking the assistance of the Foreign Bondholders Protective Council
(in this resolution referred to as `FBPC') to assist in the collection efforts
of this claim. The FBPC was enacted under Presidential Executive Order in 1933
by President Franklin D. Roosevelt to assist U.S. citizens in collecting on
foreign defaulted debt. The FBPC with the U.S. Government?s endorsement has
successfully settled over 40 bond settlements for U.S. citizens from defaulted
bonds issued by foreign governments; Whereas on August 16, 2001, the American
Bondholders Foundation, LLC (in this resolution referred to as `ABF') was
created to represent the consolidated efforts of bondholders holding defaulted
sovereign obligations of the People?s Republic of China; Whereas on February 5,
2002, the ABF through its legal representatives Stites & Harbison, PLLC made
formal written demands to the PRC requesting fair settlement of these claims.
Several subsequent notices have been sent since that time, all of which the PRC
has continued to ignore and evade the issue; Whereas on May 17, 2002, the United
States Congress, initiated by Congressman Bart Gordon, sent written notice to
President George W. Bush supporting the efforts of the ABF to receive a fair
settlement from the PRC and requesting action by the Administration to hold the
Chinese Government accountable to American citizens for a fair resolution of
their claims as holders of defaulted Chinese Government bonds. This letter was
endorsed by over 50 members of the United States House of Representatives;
Whereas on September 25, 2002, Congressman Walter Jones submitted H . Con . Res
.. 485 requesting the United States Government to take appropriate action to urge
the PRC to provide for a fair resolution of the claims of United States citizens
holding defaulted Chinese Government bonds. Congressman Walter Jones and several
other Members of Congress held a press conference outside the Cannon House
Office Building to announce the resolution. This resolution was assigned to the
Committee on Financial Services and was endorsed and supported by Chairman
Michael Oxley, however, was unable to be entered onto the calendar for hearings
prior to the ending of the 107th Congress; Whereas on February 27, 2003,
Congressman Walter Jones re-submitted the previous Resolution H . Con . Res .
485, which then became H . Con . Res . 60. H . Con . Res . 60 was referred to
the Committee on International Relations, Chairman Henry Hyde; Whereas on June
17, 2003, Congressman Walter Jones issued a letter stating that under
International Law, China is clearly obligated to pay American citizens. In
Congressman Jones' letter, he encouraged the ABF to pursue other,
non-legislative avenues of seeking redress and compensation for the bondholders.
Mr. Jones wrote, `A possible tender of the valid full faith and credit
obligations of the Chinese Government, which the People?s Republic of China is
obligated to accept under International Law as a means of cancellation of Iraq?s
existing external sovereign debt to the PRC, would reinforce accepted
conventions of international trade and commerce as well as free Iraq from an
otherwise oppressive debt burden. It would enable Iraq to conserve its economic
resources for economic development and nation building, while possibly resulting
in a measure of just compensation for U.S. bondholders. This avenue should be
fully explored.'; Whereas on October 21, 2003, the Committee on International
Relations, United States Congress, House of Representatives, Chairman Henry Hyde
held formal hearings in the Rayburn House Office Building in Washington, DC
entitled: Reassessing the U.S. Economic Relationship with China. Mrs. Jonna
Bianco, President of the American Bondholders Foundation, was requested by the
International Relations Committee to testify before the Committee. Ms. Bianco
spoke about the activities of the American Bondholders Foundation (ABF)
representing the consolidated claims of U.S. citizens who are holders of
sovereign bonds issued by the government of China and on which that government
has defaulted and continues to evade payment. Ms. Bianco also presented the
International Offset Structure enabling countries that have outstanding debts
owed to the People?s Republic of China to acquire these bonds discounted from
the ABF and then utilize the bonds under full contractual value to extinguish
such debts owed to the PRC; Whereas on October 30, 2003, Senator Richard Shelby
issued a letter endorsing the ABF?s International Offset Structure. Other
Members of the House and Senate have issued letters endorsing the same,
including the Chairman of the International Relations Committee, Chairman Henry
Hyde; Whereas in September 2005, the World Bank hosted a special luncheon and
invited heads of banks and finance ministers to meet with the ABF to begin
communications working towards reducing foreign governments' debts owed to the
PRC through the International Offset Structure presented by the ABF; Whereas
from June 22-October 31, 2006, Members of the United States Congress issued
multiple letters endorsing the ABF?s Offset Structures and supported any entity,
whether government or private, to acquire these defaulted bonds discounted from
the ABF then utilizing them under full contractual value to extinguish their
debts owed to the PRC; Whereas in 2006, the People?s Republic of China
officially continued to assert its position mandating sovereign immunity
protections as evidenced in the case of Marvin Morris v. the People?s Republic
of China in the United States District Court for the Southern District of New
York, upon which the courts granted; Whereas in May 2007, it is estimated that
American companies are losing 250 to 300 billion dollars in capital due to
China?s intellectual property thefts; Whereas participation in the globalized
economy requires nations affirm their international trade and treaty obligations
through concrete actions, such as those associated with the World Trade
Organization (in this resolution referred to as `WTO'). This was not only the
expectation but the clear pre-condition of Congressional support of the People?s
Republic of China?s admission to the WTO. Continuing to monitor China?s actions
to adhere to international trade and investment laws and practices is a natural
oversight responsibility of Congress. The PRC?s recognition and settlement of
defaulted obligations is a litmus test of their overall good economic
intentions. The initiative of the ABF in taking on the settlement of the
defaulted bonds, pursued in a manner consistent with recognized international
standards, is helping to reinforce the multilateral system where nations trade
and invest globally. Without effective enforcement of accepted norms of
international trade and commerce, the global financial system is placed in
jeopardy; Whereas the PRC continues to have open and unfettered access to all
U.S. capital markets while at the same time continuing its practices of
exclusionary settlement, discriminatory payments, selective default, and
rejection of the successor government doctrine of settled international law; and
Whereas to preserve the integrity of public debt contracts and enhance financial
markets discipline and transparency for all participants, and consistent with
the terms and conditions established with the People?s Republic of China?s entry
into the World Trade Organization, specifically the PRC?s acknowledgment and
acceptance to be a financially responsible trading partner and to be
economically responsible; and with substantial evidence confirming that the PRC
has not complied with the terms and conditions with accepted conventions of
international law including the terms and conditions of the aforementioned: Now,
therefore, be it Resolved by the House of Representatives (the Senate
concurring), That Congress hereby recommends that the People?s Republic of China
be denied access to all U.S. capital markets until such time as the PRC fully
complies with the terms and conditions of the WTO Agreement and fully honors
repayment of its outstanding defaulted public debts owed to United States
citizens consistent with the efforts of the American Bondholders Foundation.
By Anonymous, 09-25-07, 05:42 AM
stop posting that crap in here, we dont care about your damn bonds or any other
stupid *** you got stuck with.
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