Lease this WebApp and get rid of the ads.
Bretton Woods Agreement Act - H.R.9214
Mon Aug 1, 2011 08:53
72.201.39.41

Bill Summary & Status
95th Congress (1977 - 1978)
H.R.9214
CRS Summary


H.R.9214
Latest Title: A bill to amend the Bretton Woods Agreement Act to authorize the United States to participate in the Supplementary Financing Facility of the International Monetary Fund.
Sponsor: Rep Neal, Stephen L. [NC-5] (by request) (introduced 9/20/1977) Cosponsors (None)
Related Bills: H.RES.990, S.2152
Latest Major Action: 10/10/1978 Public Law 95-435.


SUMMARY AS OF:
9/22/1978--Conference report filed in House. (There is 1 other summary)

(Conference report filed in House, H. Rept. 95-1613)

Amends the Bretton Woods Agreements Act to authorize the Secretary of the Treasury to make resources available to the International Monetary Fund (IMF) in an amount not greater than 1,450 million Special Drawing Rights for United States participation in the Supplementary Financing Facility.

Requires the use of the Exchange Stabilization Fund to cover any loss or receive any gain in the United States monetary assets arising from such participation in the facility and fluctuation in the dollar value. Limits the authority of the Secretary to enter into agreements making resources available for United States participation in the Facility to such amounts appropriated in advance. Authorizes appropriations not to exceed an equivalent of 1,450 million Special Drawing Rights, effective October 1, 1978, to the Secretary for such participation.

Stipulates that compensation to the United States executive director to the Fund shall be at a rate not in excess of that provided for level IV of the Executive Schedule, and compensation to the United States alternative executive director to the Fund shall be at a rate not in excess of that provided for level V of the Executive Schedule.

States that the Secretary of the Treasury shall instruct the United States executive director to the Fund to present to the Fund's Executive Board a comprehensive set of salary reform proposals to assure that salaries of fund employees are comparable to salaries in national government service or private industry.

Directs the Secretary to instruct the United States Executive Director of the IMF to: (1) seek to assure that no decision by the IMF of the use of the Supplementary Financing Facility undermines or departs from the United States policy regarding the comparability of treatment of public and private creditors in cases of debt rescheduling where official United States credits are indirect; and (2) to initiate a wide consultation with the managing director of the Fund and other member country executive directors with regard to encouraging the staff of the Fund to formulate stabilization programs entered into pursuant to loans from the Supplementary Financing Facility which, to the maximum feasible extent, foster a broader base of productive investment and employment, especially in those productive activities which are designed to meet basic human needs.

Requires the United States Governor of the Fund to report annually to Congress, evaluating, with respect to countries to which loans are made by the Supplementary Financing Facility, the effects of policies of such countries which result from the standby agreements on basic human needs in such countries.

Directs the Secretary, in consultation with the Secretary of State, to report annually to the Congress on the status of internationally recognized human rights in each country which draws on funds made available under the Facility of the IMF.

Expresses the sense of Congress that the United States Government should disassociate itself from any foreign government which engages in the international crime of genocide. Prohibits any corporation, institution, group, or individual from importing into the United States or its territories and possessions any article grown, produced, or manufactured in Uganda. Amends the Export Administration Act of 1969 to prohibit the exportation to Uganda of any article, supply, and technical data and information (other than grains or food products) by any person subject to the jurisdiction of the United States, until the President determines and certifies to Congress that the Government of Uganda is no longer committing a consistent pattern of gross violations of human rights. Directs the President to encourage international support of such restrictions.

Requires the Secretary to instruct the Executive Director of the United States to the IMF to work in opposition to the extension of financial or technical assistance by the Facility or agency thereof to any country which permits entry into such country or encourages, supports, or harbors any person who has committed an act of international terrorism or fails to prevent any such person from committing such an act outside its territory.

States that beginning with fiscal year 1981, the total budget outlays of the Federal Government shall not exceed its receipts.

H.R.9214
Latest Title: A bill to amend the Bretton Woods Agreement Act to authorize the United States to participate in the Supplementary Financing Facility of the International Monetary Fund.
Sponsor: Rep Neal, Stephen L. [NC-5] (by request) (introduced 9/20/1977) Cosponsors (None)
Related Bills: H.RES.990, S.2152
Latest Major Action: 10/10/1978 Public Law 95-435.

MAJOR ACTIONS:

9/20/1977


Introduced in House

1/27/1978


Reported to House from the Committee on Banking, Finance and Urban Affairs with amendment, H. Rept. 95-853.

2/23/1978


Passed/agreed to in House: Measure passed House, amended, roll call #77 (267-125).

7/31/1978


Passed/agreed to in Senate: Measure passed Senate, amended, in lieu of S. 2152, roll call #271 (69-16).

9/22/1978


Conference report filed in House, H. Rept. 95-1613.

9/25/1978


Conference report agreed to in Senate: Senate agreed to conference report.

9/28/1978


Conference report agreed to in House: House agreed to conference report, roll call #851 (238-138).

9/28/1978


Cleared for White House

9/29/1978


Measure presented to President.

10/10/1978


Signed by President.

10/10/1978


Public Law 95-435.

IF you want to see the code version of this law then feast your eyes.

22 U.S.C. § 286. Acceptance of membership by United States in International Monetary Fund
The President is hereby authorized to accept membership for the United States in the International Monetary Fund (hereinafter referred to as the “Fund”), and in the International Bank for Reconstruction and Development (hereinafter referred to as the “Bank”), provided for by the Articles of Agreement of the Fund and the Articles of Agreement of the Bank as set forth in the Final Act of the United Nations Monetary and Financial Conference dated July 22, 1944, and deposited in the archives of the Department of State.

***There it is in black and white;passed by a Democrat Congress (95th) and signed into law by Democrat President Jimmy Carter. “..outlays of the Federal Government shall not exceed its receipts,” what else could that mean?***

Oh my Dear Sweet God in Heaven Above!!!!

It's a cook book!

We're FOOLS! DAMNED FOOLS!

If you read code section 22 U.S.C. § 286 you will see a plan to turn our country over to the United Nations. The president is given the "authority" to commit to a banking plan that bleeds the people of the United States dry as a bone and gives away the substance of our nation to all the other countries and foreigners in the world. If you follow the link above to that section and look to the sections that follow it you will see dozens of congressional enactments to flood more and more into this failing bank as if we had plunged a fire hose into our own belly to watch our blood and guts burst forth like a waterfall. This agreement signed by Jimmy Carter is not a "Budget Balance" but a committment to flush the entire receipts of the "Federal Government" into this financial fiasco. Since the plan involves supporting every regime upon the Earth and routinely forgiving the unpayable debts there is absolutely no wonder that we have destroyed ourselves. Is that the answer you were looking for?

================================

Something that came in (in asterisks ***) and my findings on it. Brace yourselves because this is probably the most important thing that I have ever revealed and it is not pretty.

Relax, turn the game on, put your feet up. Open a cold beer, pour some drain cleaner in it...read this through or skip to the bottom.

***Hey guys: PL95-435, signed by President Jimmy Carter in 1978, section 7 says: “Beginning with fiscal year 1981,the total budget outlays of the Federal Government shall not exceed its receipts.”***

Congressmen submit "bills" and then play with them like an army of monkeys tossing fruit around. By the time they are enacted, become statutes and get codified they may be unrecognizable. These few words appear in the preliminary documents but I cannot find them in any code section and thus they are immaterial even if anyone felt obliged to obey them.

The paper trail begins here:

435. H.R.9214 : A bill to amend the Bretton Woods Agreement Act to authorize the United States to participate in the Supplementary Financing Facility of the International Monetary Fund.
Sponsor: Rep Neal, Stephen L. [NC-5] (by request) (introduced 9/20/1977) Cosponsors (None)
Committees: House Banking, Finance, and Urban Affairs
House Reports: 095-853; Latest Conference Report: 095-1613
Latest Major Action: 10/10/1978 Public Law 95-435.
===============================

Web of Debt - Ellen Brown - 2 of 5
http://www.youtube.com/watch?v=3_ZbEVfKJ1w&feature=related


  • Click here to receive daily updates