Democrat Rep And Trump “Impeachment” Manager Leaves Congress – Special Election To Be Held

Democrats are jumping ship.

Dem Rep. David Cicillne, who has represented Rhode Island’s 1st Congressional District since 2011 is stepping down on June 1st.

Cicillne will become the president and CEO of the Rhode Island Foundation.

Cicilline served as an impeachment manager during the second impeachment of Donald Trump.

NBC reported:

Rep. David Cicilline, a Rhode Island Democrat, announced Tuesday he will leave Congress early at the end of May to become the new president and CEO of the Rhode Island Foundation, marking a rare resignation early in a session.

“Serving the people of Rhode Island’s First Congressional District has been the honor of my lifetime,” Cicilline said in a statement. “As President and CEO of one of the largest and oldest community foundations in the nation, I look forward to expanding on the work I have led for nearly thirty years in helping to improve the lives of all Rhode Islanders.”

…

Cicilline, who represents a Democratic-leaning district around Providence, has served in the House since 2011. He previously chaired the House Democratic Policy and Communications Committee last session, and he chaired the House Judiciary Committee’s antitrust subcommittee. He also served as an impeachment manager in former President Donald Trump’s second impeachment trial, following the Jan. 6 attack.

James Langevin, the only other Rep from Rhode Island, stepped down last year.

An official special election date won’t be set until the official resignation of Cicillne.

The Hill reported:

His decision to leave Congress comes after longtime Rhode Island Rep. James Langevin (D) stepped down from the state’s only other congressional seat last year, after more than 20 years in office. He was replaced by Rep. Seth Magaziner (D) in the state’s first open congressional race since 2010.

A special election for Cicilline’s seat cannot be scheduled until he officially resigns from office, according to The Boston Globe.

Democrats know how bad things are getting for their party thanks to Joe Biden’s failed presidency.

https://www.thegatewaypundit.com/2023/02/democrat-rep-and-trump-impeachment-manger-leaves-congress-special-election-to-be-held/

Mysterious 1.5-meter Object Resembling “Iron Ball” Found on Japan Shore, Prompting Authorities to Close 200-Meter Area Due to Explosion Risk

On Tuesday morning, a local resident found a big metal ball on Enshuhama Beach in Hamamatsu City, Shizuoka Prefecture. The Japanese coast guard has stated that they are unsure of the nature of the object.

The authorities have declared a 200-meter off-limit zone due to the possibility of an explosion.

A new report indicated that there is no threat of explosion, although the precise nature of the item in question remains unknown.

“‘At around 8:45 a.m. on February 21, a woman living nearby called the police on Enshuhama Beach in Nishi Ward, Hamamatsu City, Shizuoka Prefecture, saying that there was something like a mine on the beach. When the police confirmed, they found a suspicious object like an iron ball with a diameter of about 1.5m,” a local news outlet reported.

“According to the police, the discovered suspicious object is considered to be made of iron because the surface is brown and rusty, and a part of the sphere protrudes. Due to the danger of explosions, we are sharing photos and information with the Self-Defense Forces and Japan Coast Guard, and are hurrying to identify suspicious objects,” the outlet added.

https://www.thegatewaypundit.com/2023/02/mysterious-1-5-meter-object-resembling-iron-ball-found-on-japan-shore-prompting-authorities-to-close-200-meter-area-due-to-explosion-risk/

China unveils global security paper

The document offers a sharp rebuke of “the Cold War mentality,” hegemonism, and unilateralism

China has released its Global Security Initiative Concept Paper, which focuses on preventing conflicts and promoting global security, while blasting the use of sanctions in foreign policy.

The initiative, which was unveiled by the Foreign Ministry on Tuesday, hinges on several core concepts and principles meant to help both China and the international community navigate in what the document describes as an “era rife with challenges.”

It prioritizes UN-centered security governance, stating that “the Cold War mentality, unilateralism, bloc confrontation and hegemonism contradict the spirit of the UN Charter and must be resisted and rejected.”

Countries should also uphold the consensus that “a nuclear war cannot be won and must never be fought,” the initiative reads, adding that the nuclear powers should strengthen dialogue and cooperation to mitigate the risk of a nuclear stand-off.

The document went on to stress the need to take the “legitimate security concerns of all countries seriously,” while respecting their sovereignty and territorial integrity.

The program paper also made an appeal to resolve international disputes exclusively through diplomacy. “War and sanctions are no fundamental solution to disputes; only dialogue and consultation are effective in resolving differences,” it said, adding: “abusing unilateral sanctions… does not solve a problem, but only creates more difficulties and complications.”

Addressing the conflict between Moscow and Kiev, the paper highlighted the need to “support political settlement of hotspot issues such as the Ukraine crisis through dialogue and negotiation.”

Chinese Foreign Minister Qin Gang said the initiative strives to establish a human community with a shared future, and that it “is open and inclusive” for any nation to join.

The idea of the initiative was first put forward by Chinese President Xi Jinping in April 2022 as a means to “uphold the principle of indivisible security” in the world.

This comes one day after China released a report titled ‘US Hegemony and its Perils’, blasting Washington for escalating the great power competition across the globe, staging ‘color revolutions’, and stoking regional tensions under the guise of promoting democracy.

http://www.chinadaily.com.cn/a/202302/21/WS63f41f12a31057c47ebafe4e.html

SEC Charges Mormon Church For Concealing $32 Billion Portfolio

The Securities and Exchange Commission (SEC) has charged an investment arm of the Mormon church for disclosure failures and misstated filings.

Ensign Peak, a nonprofit entity operated by the Church of Jesus Christ of Later-day Saints, agreed to pay a $4 million penalty for failing to file forms that would have disclosed the church's equity investments, and instead filing forms for shell companies that concealed the Church's portfolio - as well as misstated Ensign Peak's control over investment decisions, according to the Wall Street Journal.

The church, which requires its members give 10% of their income in the form of tithing, itself agreed to pay a $1 million penalty, according to the SEC.

The SEC’s order finds that, from 1997 through 2019, Ensign Peak failed to file Forms 13F, the forms on which investment managers are required to disclose the value of certain securities they manage. According to the order, the Church was concerned that disclosure of its portfolio, which by 2018 grew to approximately $32 billion, would lead to negative consequences. To obscure the amount of the Church’s portfolio, and with the Church’s knowledge and approval, Ensign Peak created thirteen shell LLCs, ostensibly with locations throughout the U.S., and filed Forms 13F in the names of these LLCs rather than in Ensign Peak’s name. The order finds that Ensign Peak maintained investment discretion over all relevant securities, that it controlled the shell companies, and that it directed nominee “business managers,” most of whom were employed by the Church, to sign the Commission filings. The shell LLCs’ Forms 13F misstated, among other things, that the LLCs had sole investment and voting discretion over the securities. In reality, the SEC’s order finds, Ensign Peak retained control over all investment and voting decisions. -SEC

"We allege that the LDS Church’s investment manager, with the Church’s knowledge, went to great lengths to avoid disclosing the Church’s investments, depriving the Commission and the investing public of accurate market information," said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. "The requirement to file timely and accurate information on Forms 13F applies to all institutional investment managers, including non-profit and charitable organizations."

Earlier this month the Journal reported that the SEC was investigating the Mormon church, after a former employee revealed in 2019 that the organization had amassed $100 billion of holdings.

The current size of Ensign Peak’s holdings remains a tightly held secret. The firm, based in Salt Lake City, was incorporated in 1997. Under SEC rules, it must disclose some types of investments, like U.S.-listed stocks, that it manages directly, which amounted to roughly $40 billion on Sept. 30. The remainder of the portfolio is made up of investments such as fixed-income securities, private companies or funds. Ensign Peak had an estimated $100 billion of holdings in 2019.

Investment managers with at least $100 million under management publicly report their stockholdings quarterly. The numbers are tracked by public companies and investors. About 5,000 entities file the form, according to SEC data made public in 2020. -WSJ

Ensign Peak and church officials say they haven't violated nay tax laws, and that the fund was a "rainy-day account" to be used in difficult economic times.

https://www.zerohedge.com/political/sec-charges-mormon-church-concealing-32-billion-portfolio

https://www.zerohedge.com/political/sec-charges-mormon-church-concealing-32-billion-portfolio