News wrap-up from around the federal landscape: NASA is going to test storing data on the lunar surface, marijuana bill is approved by House committee, and $28,000 stolen from Army vet.
With the government shutdown “can” proverbially “kicked” down the road, we can resume our usual roundup of interesting stories from around the US government. This week, we’re looking at a NASA test mission to store data on the moon, an update on the CURE Act, and then a cautionary tale of a veteran who had his TSP check stolen from a USPS blue box.
Lunar Data Storage
As part of the ongoing Artemis missions, NASA is going to test storing digital information on the moon. Slated for February 2024, a test mission will bring a NASA payload “full of data” to our planet’s sole celestial satellite. Called “cubes,” the information will be stored on book-sized, solar-powered, black rectangles. The lunar-based storage system will use blockchain technology and a point-to-point protocol to make the information extremely difficult to intercept, tamper with, or “hack.” The blockchain will ensure the data is safe while a point-to-point protocol is a direct link between routers (one on Earth and one on the Moon) that bypasses the need for the internet or any other network.
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NASA will be working with Florida-based contractor Lonestar and the self-governing British Crown Dependency, the Isle of Man, which has emerged as a hub for the private space travel industry. Last year, Lonestar conducted a successful data storage mission on the International Space Station. Optimistically, a lunar-based back-up storage device could safeguard some of humanity’s most important discoveries and creations, but critics argue a more practical place to back-up data would be a disused mine, deep under the Earth’s crust. Bentley, a college professor in London, likened the lunar data idea to placing a USB drive in a bottle, sealing it, and throwing it in the middle of the ocean.
Cannabis Bill Advances
Before Congress’ focus was swallowed by the threat of an impending shutdown, a committee in the House of Representatives voted 30-14 to approve the CURE Act, which would remove past cannabis use a disqualifier for both federal employment and attaining security clearances. The proposed legislation was almost killed by an amendment that representative Pete Sessions of Texas tried to add. The change would’ve added a required gap of three years between when marijuana was last used and obtaining either a federal job or security clearance, but committee voted 28-15 against it. The bill now moves to the House floor to be voted on by all the representatives.
Stolen TSP Check
In 2021, a US Army Veteran from Houston, TX, Michael Clark, took out a $28,000 loan from his TSP account to buy a new home. He got a check from the Thrift Savings Plan, wrote “for deposit only” on the signature line, and mailed it to his bank for deposit. However, a thief stole his check from one of the USPS blue boxes and was able to deposit it in their own account. After more than two years, dealing with around 6 different governmental agencies, Clark has yet to receive the funds and wasn’t able to buy the house. In June of this year, Clark received notice that Carlos Garcia will be facing multiple criminal charges, included the suspected theft of the TSP check. His court date is scheduled for this month.
This is a reminder to always be careful when mailing paper checks, especially from the US Treasury, like a TSP check. It is advised to not sign the check, write “for deposit only” and include the receiving account number. This makes it tougher for criminals to “wash” a check. Despite the increased crime involving USPS blue boxes and paper checks, the TSP continues to utilize them heavily. At least with rollovers into an outside IRA, TSP will not allow a direct transfer and still relies on paper checks for these types of transactions.
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**Written by Benjamin Derge, Financial Planner, ChFEBC℠ The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Benjamin Derge and not necessarily those of RJFS or Raymond James. Links are being provided for information purposes only. Expressions of opinion are as of this date and are subject to change without notice. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.
