My fellow Americans, and as you know, our nation faces many emerging situations that may potentially have serious implications regarding the ongoing internal economic conditions and, indeed, the very security of our country. It is in my opinion, and the opinion of the leaders of the Congress, that dealing with the situation is an immediate, and I do mean immediate, requirement, even far more so than the emergency economic legislation of October last year.
We face an immediate cash crisis regarding the ability for our nation, the leader of the world, to meet our international monetary obligations as well as our need for internal social programs and the ongoing costs of government as a whole. Failure to address this issue within the next 48 hours could lead to international bankruptcy on the part of the
Not only is the threat of personal security to our citizens due to crimes committed with guns severe, but we are now faced with the threat of terrorist acts against our government and its officers being committed by terrorists from within the
The third threat to the
During the days following the election, the new Vice-President and I have been in many closed-door meetings with top and senior members of both houses of Congress to discuss these serious issues and to be ready to deal with them as soon as the inaugural transition took place. During these discussions, it became evident that the need to act would be imminent and that we would not have time to deal with the changes to the Constitution that must be undertaken for us to act quickly and effectively in the best interests of our country.
It was therefore decided, and both full houses of Congress have agreed and late this afternoon voted by a majority, to undertake the following actions:
First, the Congress has voted to declare a State of
Secondly, the Congress has voted to empower me, as your President, to undertake certain emergency actions to deal with these issues.
Third, the Congress has voted, as a result of the Declaration of National Emergency, to temporarily suspend certain provisions of the United States Constitution that have a direct bearing on my ability to deal with these situations.
Fourth, under the powers thus vested in me in this Emergency Declaration, and with the consent and agreement of the Congress, I am directing that all banks, brokerage houses, investment companies, and similar financial institutions doing business in the United States shall immediately come under full and direct control of the Government of the United States, specifically the Secretary of the Treasury until such a time as the impending financial crisis can be resolved and we have reasonable assurance that it will not return to bite us again. Accordingly, I am directing the closure of all such facilities effective immediately and over the weekend so that we can hold meetings with management officials of those organizations to discuss their new operating rules, and I anticipate that we should be able to reopen all of them on Tuesday.
Fifth, I am directing that 10% of all individual and business investments or deposits held by these financial institutions shall become the property of the United States Government in order to help us through the cash monetary situation that we face. I believe there will be some kind of a tax benefit for this, but I am unable to confirm that at this time.
Number six, the stock, futures and commodities markets will be closed both Monday and Tuesday, to prevent any wild transactions as we go through this process.
Seventh, as you know, all guns sold and purchased in the
Number eight, and I am nearing the end, it is the shared opinion of world leaders that the time has now come to advance ourselves as a world society of mankind, and I am empowered as your President to enter into negotiations with the major countries of the world, including Russia, China, Japan, Iran, Great Britain, Mexico, Venezuela, Canada, India, Syria, France and Spain, to begin the process for the establishment of a world government. Of course, the
In closing, we are grateful that our country has survived 230 years under the Constitution that was created by our forefathers and that has served us so well. Now, we look forward to new beginnings and directions that will ultimately bring all men of all nations under one rule forever.
Thank you, and good night.