Rescinded Wetc | Vajant Teichos | Act

[wetc]

A
BILL
TO

Liberate The People From The Mess We're In

The people of Democracy Craft, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:​

1 - Short Title and Enactment

1. This Act may be cited as the “Wetc | Vajant Teichos | Act”.
2. This Act shall be enacted immediately upon its signage.
3. This Act is proposed by Representative Wetc
4. This Act is Co-Sponsored by Representative Milkcrack. The proposition in this contract was reviewed and approved by the DEC Secretary, and the joint-congressional-economics committee.

| NOTICE - THIS BILL WAS APPROVED BY THE DEC SECRETARY AND THE PRESIDENT |

2 - Reasons

1. For too long, the people of Redmont have poured their earnings into unsafe and risky securities. It is time that as an imperfect government, we recognise these mishaps, and work to correct them.
2. People have indebted their trust to the Onyx Exchange, buying worthless numbers that hold and retain zero fundamental value.

3 - Vajant

1. The DEC retains the right and obligation, upon the signage of this bill, to enact a Government Buyback of Congressional Economics-Committee approved securities.
   1. This is a right that can only be exercised once, this bill may be re-proposed, but it is related to exclusively one exercise event.
2. The DEC is permitted to orchestrate and conduct this Buyback with a special appropriation of capital.
   1. This will be a sum of $500,000; designated exclusively for the use of this Buyback.
      1. This sum will be financed exclusively through Private Line(s) of Credit, it remains at the DEC’s discretion to select which institutions they will utilize for the Credit, with the only restriction being that it must be a Tax-Exempt Commercial Bank.
      2. After being selected by the DEC; FINFA must also clear the choice, and negotiate a contract for the Line(s) of Credit.
3. The DEC is only afforded the right to initiate the Buyback with securities prices dictated by the Congressional Economics-Committee.
   1. While the DEC is expected to advise these prices, and cooperate with the Congressional Economics-Committee to determine the right values, it is not in the DEC’s power to actually officiate or set these prices themselves.
4. The DEC is permitted to only purchase these Securities from approved individuals or entities, defined as follows.
   1. Individual citizens, without government jobs, or affiliation.
   2. Individual citizens, with government jobs, or affiliation.
   3. Private Investment Banks, with securities holdings.
   4. Private Commercial Banks, with securities holdings.
   5. Private Investment Firms, with securities holdings.
5. The DEC is not allowed to purchase Securities from blacklisted individuals or entities, defined as follows.
   1. Private companies, of which are not otherwise designated in Section 4 of Vajant.
   2. Individuals trying to sell shares that aren’t publicly traded.
   3. Private companies that are trying to sell shares that aren’t publicly traded at the time of writing (4/9/2022 - 10:33:34 EST).
      1. Publicly traded shares are shares that Public Companies released to the open market in their original IPO, shares that were not a part of that group, are not considered publicly traded.
   4. Non-Profits.
6. The DEC may not exceed a spending of $250,000 for each Approved security.
   1. The DEC can not buy back more than $250,000 of any of the individual approved securities.
   2. The DEC, by the power of this bill, can, (and has the obligation to), open additional Lines of Credit with the FINFA selected fallback institutions, to meet the supply of stock. If the DEC deems it necessary, they are able to open these Lines of Credit within four months of the original Lines of Credit being opened.
      1. After a period of four (4) months, the DEC loses this power, and this clause is null and void.
7. Upon the initiation of this buyback, the DEC is obligated to coordinate with FINFA to construct an operation to efficiently sell these shares to Tax-Exempt Commercial Banks and Tax Exempt Investment Banks.
   1. FINFA has clearance to approve and propose any resale contracts, and they are expected to work with and get advice from the DEC in regards to these sales agreements.

4 - Teichos

1. The following is a manifest of the Congressional Economics-Committee Approved securities, and their correlated value.
   1. Lucky’s Emporium - $450/Share
   2. Walgreens - $250/Share
   3. Crown - $95/Share
   4. Onyx Industries - $135/Share
   5. HCB|ETF - $85/Share
   6. Apex - $75/Share
   7. Walmart - $50/Share
   8. Tesco - $20/Share
   9. Emerald Co. - $15/Share
   10. HCB - $850/Share