One of the last 500 first-edition copies of the U.S. Constitution printed in 1787 was sold at auction Thursday night in New York, shattering estimates put forth by experts who had placed the historic document’s value at $20 million.
The “Goldman’s Constitution” as the copy is known is one of only 13 originals believed to still exist. It was purchased by real estate developer S. Howard Goldman in 1988 for $165,000 and most recently belonged to the Dorothy Tapper Goldman Foundation, which owns dozens of rare historical documents from America’s Colonial and Revolutionary eras.
Earlier this month it was announced that ConstitutionDAO, a Ethereum-based cryptocurrency group, would be bidding for the document. Leading up to the auction, the group publicized its desire to find a partner ensure the Constitution would be displayed in a way that made it accessible to the public.
Last week ConstitutionDAO claimed it had already raised $32 million via crowdfunding, which many experts believed would ensure the group was top bidder. But that honor went instead to Ken Griffin, the billionaire CEO of Chicago-based Citadel LLC, a hedge fund. His bid was $41 million ($43.2 million with fees).
The entire bidding took less than 15 minutes. Not only was Griffin’s bid the highest ever for a copy of the U.S. Constitution, but Sotheby’s says it is the top price ever paid for a printed historical document.
Griffin, 53, announced that his copy of the U.S. Constitution will be loaned to the Crystal Bridges Museum of American Art in Bentonville, Arkansas. The museum’s permanent collection features American art from the Colonial era to the contemporary period.
There are some questions as to why the cryptocurrency group was unable to exceed Griffin’s bid, given that some insiders reported ConstitutionDAO, which stands for Decentralised Autonomous Organisation, had in fact raised $47 million by the start of bidding. Refunds will be issued to the nearly 17,500 individual donors, according to the group, which took looked on the positive side of its endeavor.
“This is the largest crowdfund for a physical object that we are aware of—crypto or fiat,” according to the group’s website. “We are so incredibly grateful to have done this together with you all and are still in shock that we even got this far.”
The group also noted Thursday’s auction was the first time Sotheby’s worked with a DAO community.
“We have educated an entire cohort of people around the world – from museum curators and art directors to our grandmothers asking us what eth is when they read about us in the news – about the possibilities of web3,” the statement reads. “And, on the flip side, many of you have learned about what it means to steward an asset like the U.S. constitution across museums and collections, or watched an art auction for the first time.”
Some business leaders have dreamt for years of an interstate that would traverse Arizona, providing a better connection for international trade through Nogales to Phoenix and Las Vegas, and in the process providing a north-south route between Canada and Mexico.
Las Vegas and Phoenix are the only two cities with population of more than 1 million residents which are not linked by a direct interstate route. That dream of new opportunities for trade, commerce, job growth, and economic competitiveness took a leap forward Tuesday when the Arizona Department of Transportation (ADOT) announced its preferred route for the state’s portion of Interstate 11 as it would be known.
Officially called the “Record of Decision and Final Preliminary Section 4(f) Evaluation,” the report released Nov. 16 was prepared by ADOT and the Federal Highway Administration (FHWA) in compliance with the National Environmental Policy Act. It represents the final step in the Tier 1 Environmental Impact Statement process, culminating five years of study, technical analysis, and stakeholder input.
The Record of Decision also includes proposed corridor, or route, for the 280 miles of I-11 that would run between Nogales and Wickenburg utilizing new and existing roadways. Another 200 miles of what is currently U.S. Highway 93 from Wickenburg to the Arizona / Nevada state line where 23 miles of I-11 begin its run in Nevada would also become part of I-11 after a series of upgrades. That section is not part of the Record of Decision.
The idea of a Canada to Mexico transportation route which would connect the two largest cities in Arizona and Nevada dates back 25 years. However, it was not until 2015 that Congress formally designated I-11 as an interstate highway in Arizona, although the designation came with no funding for design or construction.
Deciding where the new interstate would be located has presented a years-long challenge for ADOT and FHWA. While the route between Phoenix to Wickenburg was delineated early, there have been two potential routes considered for the Phoenix to Nogales segment. That was further narrowed down to utilizing I-10 from Phoenix for several miles until just north of Marana.
The Tier 1 environmental impact review then looked at two alternatives for reaching Nogales. One of those options took an easterly route by utilizing existing roadways of I-10 to I-19 to State Route 189.
A westerly option, which is the one recommended by ADOT and approved this week by FHWA, would require construction of a new roadway through Avra Valley and then down near Three Points before merging into I-19 in Sahuarita. More than 60 percent of the land near that route is currently vacant.
Previous concerns voiced by stakeholders in the Sahuarita area led to an adjustment of the westerly route before it was recommended this week. The town of Sahuarita has even designated more than 90 acres of vacant land that could be utilized for the merging of I-11 with I-19.
But the I-11 project in Arizona is a long way from ever breaking ground, if it even gets that far. The Tier 1 report released this week with its westerly option recommendation is only the beginning. Additional studies would be necessary, including a Tier 2 environmental review.
“It is during the Tier 2 process that the Selected Corridor Alternative would be narrowed to a maximum 400-foot-wide highway alignment, or route,” according to ADOT. “Based on need and purpose, these segments would focus on smaller and shorter sections of I-11 and not the entire 280-mile corridor.”
And as with the recent announcement of a preferred alternative route for theSonoran Corridor connecting Interstate 10 to Interstate 19, the I-11 project is unfunded.
“Currently there are no plans or funding available to initiate these Tier 2 studies,” ADOT confirmed.
Less than 23 miles of I-11 have been competed in Nevada, running from the Hoover Dam Bypass at the Arizona state line to Henderson, Nevada. The CEO of the Las Vegas Chamber of Commerce has called completion of I-11 one of the most critical projects for the Intermountain Western states.
For more information about I-11 and the Tier 1 Environmental Impact Statement, visit i11study.com/Arizona.
With tech companies like Intel and NXP Semiconductors located within its city limits, it is not surprising that Chandler is Arizona’s first municipality to conduct a mock election to test a mobile voting system using blockchain technology.
Chandler residents ages 13 and older have until Nov. 30 to download Voatz on a mobile device and then register via an encrypted system. A vote can then be cast in a fake special bond election, with city officials announcing the vote counts on Dec. 1 during a livestreamed event at Chandler City Hall.
Whether voters and city officials find an app like Voatz “valuable and viable” is part of the motivation for the mock election, according to Chandler Vice Mayor Mark Stewart. There will also be an opportunity for residents to comment on the process and the results will be audited.
However, there are no plans at this time for the city to utilize such a system for actual elections, Stewart has said.
Chandler, which is the fourth most populous city in Arizona, prides itself as the Community of Innovation. Among the mock election’s selling points is its timing right after the Maricopa County Recorder’s Office conducted Chandler’s official Nov. 2 special bond election.
“Chandler is a technology hub and we’re constantly looking at innovations in the way we deliver services,” according to the city’s website. “This pilot is intended to offer the City insight regarding a mobile voting process and gauge interest among residents to determine if a mobile voting option is desired in the future.”
Not only does the mock election give residents a different way to vote, it also provides voters an opportunity test a new technology and compare voting methods without any potential negative impact on an actual election.
Public records show the city’s interest in mobile voting dates back several years, leading to a budget amendment in Fiscal Year 2020 to research blockchain technology applications. The city clerk and city attorney then held discussions with election officials in other states which had utilized mobile voting.
As to how Voatz came to be involved with Chandler’s test election, the city’s website notes the Boston-based company has experience using blockchain technology for mobile voting services in actual elections. Voatz was also willing to offer a demonstration pilot.
City officials are highlighting the state-of-the-art encryption techniques used with the Voatz program, including end-to-end encryption for secure data transmission as well as secure data storage. The city’s website notes that the Maricopa County Recorder’s Office twice turned down offers to participate in a mock election to better understand the technology, so the city council voted to sponsor the event.
“This pilot is intended to offer the City insight regarding a mobile voting process and gauge interest among residents to determine if a mobile voting option is desired in the future,” according to the website. “Today, voters can mail in their ballot, drop it off at a voting center or complete a ballot at a voting center. This test of the technology offers experience if mobile voting were to become another option in the future.”
One week after his inauguration, President Joe Biden issued Executive Order 14008 pausing new oil and gas leases on public lands. But perhaps the best known provision of the executive order was the goal of ensuring at least 30 percent of all federal land and coastal waterways are conserved by 2030.
The purpose, according to Biden, is to address climate change, protect biodiversity, and create equitable access to nature.
At the time of Biden’s announcement, about 12 percent of land across America was under sufficient oversight to be considered conserved, according to data from the U.S. Geological Survey. To meet the 30 percent goal would require conservation of about 440,000,000 additional acres.
By comparison, the State of Texas comes in at 171,057,000 acres.
The fact that the federal government already controls roughly 640,000,000 acres would seem to go a long way toward achieving the 30 by 30 goal, now better known as the America the Beautiful Initiative. However, nearly one-third of those acres are not conserved in a way that would likely comply with the unfinalized standards of the initiative.
Back in March, more than 60 members of the Congressional Western Caucus, sent Biden a letter expressing concerns with 30 by 30. The letter noted that with more than 90 percent of federally-managed lands lying west of the Mississippi, their constituents are concerned Western states will be disproportionately impacted by policies utilized to achieve the 30 by 30 goals.
“Stewardship of our lands is embedded in our Western values. Sustainable, healthy land is the lifeblood of our rural communities and our outdoor heritage and rural economies thrive when our lands are properly managed,” the letter stated. “However, the 30 by 30 initiative displays a dangerous thoughtlessness and far too many of our questions have been left unanswered.”
Yet seven months after that letter, very little is known as to how the Biden Administration intends to meet those goals. And that prompted an Oct. 12 letter to the President from Cochise County Sheriff Mark Dannels on behalf of the Arizona Sheriffs Association.
“As in the past, we have concerns including proposals such as these lacking specific measures, imposing unnecessary land use restrictions, and limiting economic opportunities that have existed for decades on these very lands,” Dannels wrote, also noting that federal officials were using the term “federally managed lands” instead of “public lands” in 30 x 30 documents.
But while Arizona’s sheriffs encouraged collaboration with state agencies and local governments to address climate change and drought impacts within the Western States, the letter cautioned that federal officials “should avoid imposing unilateral authority to further limit uses and impose increased land use restrictions on federal lands in the West that have been extremely divisive and controversial.”
Similar letters were sent to Sen. Kyrsten Sinema and Sen. Mark Kelly. A spokeswoman for the Arizona Sheriffs Association said no responses were received in the last month.
Some 30 by 30 documents mention the need for incentivizing voluntary stewardship efforts on private lands and by supporting the efforts and visions of States and Tribal Nations. The fact that privately owned lands are home to nearly two-third of all species on the U.S. Endangered Species list also has landowners in the western United States concerned about preservation of property rights.
“Traditional mechanisms of land protection like permanent acquisition, easement or federal designation will rightfully play a role in achieving 30 by 30,” the Western Landowners Alliance noted in a recent statement. “At the same time, over-reliance on these tools, or an insistence that these mechanisms are the only way to protect land fails to recognize the contributions to conservation of those already on the land.”
Deb Haaland, as U.S. Secretary of Interior, was tasked to coordinate with the Secretarys of Agriculture and Commerce along with the National Oceanic and Atmospheric Administration and White House Council on Environmental Quality to propose guidelines for determining what lands and waters qualify for conservation.
The America the Beautiful Interagency Working Group, as it is known, is also responsible for providing an annual progress report to the White House as well as ensuring federal dollars get distributed toward conservation programs.
The working group came under scrutiny earlier this year after questions were raised about the protocols utilized for awarding $17 million in federally funded grants for urban park projects. One of those projects sent $1 million to the City of Santa Barbara, California to renovate a park, including the installation of synthetic turf at the park.
A letter sent last week to President Joe Biden by Arizona Treasurer Kimberly Yee and the top financial officers of 17 other states is drawing attention to the growing bipartisan opposition to Biden’s nominee for Comptroller of the Currency.
“Biden wants Saule Omarova in charge of our banking system, who studied in Moscow under a Communist regime and prefers the centralized banking system of the Soviet Union to America’s own free market system,” Yee said Friday. “The American people deserve better.”
The Office of Comptroller of Currency is an independent bureau within the United States Department of the Treasury responsible for chartering, regulating, and supervising all national banks and thrift institutions, as well as federally licensed branches and agencies of foreign banks in the United States.
Omarova, a 55-year-old professor at Cornell Law School, was formally nominated by Biden in September to head the office, subject to Senate confirmation. Since then, a ground swell of opposition has developed Omarova’s her self-described “radical reform” ideas.
“Her public policy positions are really, really problematic if you want a free-market banking system,” says Rob Nichols, president of the 1,100-member American Bankers Association. “It is a blueprint for nationalization.”
Much of the concern with Omarova’s nomination stems from her documented positions which appear to run counter to the objectives of the Comptroller of Currency. Those objectives include ensuring the safety and soundness of the nation’s banking system, ensuring fair and equal access to financial services to all Americans, and enforcing those anti-money laundering and anti-terrorism finance laws which apply to national banks and federally licensed branches and agencies of international banks.
As recently as February, Omarova wrote of her support for what she described as an “overtly radical reform” of the banking system in the United States. Such reform -which Omarova said would “effectively end banking as we know it”- could result in American’s deposit accounts bring held by the Federal Reserve Bank instead of in private banks.
Biden nominee Saule Omarova saying the quiet part out loud. On the oil, coal and gas industries:
The growing scrutiny of Omarova’s nomination will soon come to a head when the U.S. Senate Banking Committee decides whether to advance her nomination to the full Senate. Republican Senator Pat Toomey of Pennsylvania is a ranking member of the committee and a skeptic of Omarova’s nomination.
“In fact, I don’t think I’ve ever seen a more radical choice for any regulatory spot in our federal government. I know that is a very sweeping statement to make. I think I can stand by it,” Toomey said back in October, adding that Omarova “clearly has an aversion to anything like free market capitalism..”
Omarova’s supporters are quick to allege it is her ethnicity and gender -not her policy positions- prompting the pushback. But Republicans are not the only ones expressing concern. On Nov. 9, Democratic Senator Jon Tester of Montana went public with his hesitancy over Omarova’s nomination.
“Some of Ms. Omarova’s past statements about the role of government in the financial system raise real concerns about her ability to impartially serve at the Office of the Comptroller of the Currency, and I’m looking forward to meeting with her to discuss them,” Tester said.
Senator Kyrsten Sinema of Arizona is also a member of the Senate Banking Committee. She has not publicly expressed an opinion on the nomination.
America’s banking system, however, is not the only economic system Omarova believes could be reformed or even replaced. She has openly supported a proposed National Investment Authority which would be responsible for “devising, financing, and executing a long-term national strategy of economic development and reconstruction.”
The result, according to Yee and the other states’ financial leaders, would give the Federal Reserve systematic control of prices for fuel, food, raw materials, metals, natural resources, home prices, and wages.
“I join my fellow financial leaders from across the country with deep concern that Ms. Omarova’s radical, socialist views would lead to her abusing her supervisory power as Comptroller to expand political control over the private banking sector and disrupt both Arizona’s and the nation’s economy,” Yee stated Nov. 12 in a separate letter.
However, the White House has doubled down on the nomination in a statement which notes Biden continues to “strongly support” Omarova. The statement refers to the nominee being “eminently qualified” for the position.
A biography shows Omarova was born into a Muslim family which lived in what was then the Kazakh Soviet Socialist Republic. She was awarded the Lenin Award at Moscow State University before moving in 1991 to the United States where she completed her Ph.D. in political science at the University of Wisconsin in Madison.
Omarova holds a Juris Doctor from Northwestern University’s Pritzker School of Law. She served as a special advisors for President George W. Bush’s Department of the Treasury under the Under Secretary for Domestic Finance.
In addition to Arizona, the financial officers who signed the Nov. 12 letter to Biden represent the following states: Arkansas, Florida, Idaho, Indiana, Kentucky,
Louisiana, Mississippi, Missouri, Nebraska, North Carolina, North Dakota, Pennsylvania, South Dakota, Texas, Utah, West Virginia, and Wyoming. The CEO of the State Financial Officers Foundation was also a signee.
Since May, the acting Comptroller of the Currency has been Michael J. Hsu. He is overseeing 3,500 employees based in the main Washington D.C. office as well as district offices in Chicago, Dallas, Denver, and New York City.
