NYSE Abandons Plan to Control America’s Natural Resources

The New York Stock Exchange (NYSE) on Wednesday withdrew its proposal to establish Natural Asset Companies (NACs), which were designed to pool investors’ money from around the world to buy controlling rights to public and private land throughout the United States.
The NACs would, according to filing documents, manage the lands solely for the purpose of “sustainability.” Critics of the plan charged that wealthy investors and foreign entities would be able to use these vehicles to make decisions to allow or block the public from accessing the publicly owned land that is designated for uses such as hunting, fishing, drilling, mining, hiking, and logging...

“Today’s withdrawal is a major victory for Americans,” Margaret Byfield, executive director of American Stewards of Liberty, a land-rights organization, told The Epoch Times. “Very few people understand how close we were to losing control of our property and natural resources through this diabolical NAC scam.”...

The NAC plan coincided with other Biden administration initiatives, including the 30x30 plan, according to which 30 percent of America’s land and waters would be set aside for preservation by 2030. In addition, the Bureau of Land Management (BLM) has proposed the creation of “conservation leases” on public lands, which would grant third parties the right to control them and preclude further development of those lands...

Kansas Attorney General Kris Kobach, who together with Mr. Reyes co-authored the AGs’ letter, issued a statement that he was “pleased the SEC has withdrawn its proposed rule change. Doing so avoided an unnecessary legal battle.”...

Rep. Harriet Hageman (R-Wyo.), who had opposed the creation of NACs, called their withdrawal “a clear win for farmers, ranchers, loggers, miners, energy producers, energy users, and all who enjoy the use of public lands.”

“It is also a clear sign that when the insidious policies being considered by this administration are exposed, they can be defeated,” she said in an emailed statement...