Banks: Are they really the bad guys?

By admin

We are constantly bombarded in print, radio, and other media that banks have somehow taken over and are the most evil of institutions.

We hear that banks have taken over everything, even our own government, with their money printing and interest loaning schemes.

We even hear that they control the economy, and that they make the decisions as to what will happen to the economy, as if the whole world is simply hanging off of the simple pen stroke of the Federal Reserve or the less than humble “mayor” of banking, Sir Rothschild and sons.

But are these stories true?

Are the banks indeed above the law and in control?

Well… the short answer is absolutely not!

The long answer, however, will take some doing…

–≈–

National Banks Are Made By The Government!

–≈–

National banks in the United States are” chartered” by the Federal Government of the United States. And, just like any other corporation in the Corporation that is United States Incorporated (government), these banks are controlled and regulated by said government. To suggest that banks are above the government or have control over said government is ridiculous, since these banks are U.S. Corporations. If you start a corporation, your business will be under the same regulations of Federal and State tyranny. And, as long as you cooperate, pay your taxes, and never interfere with the governments “take” in the form of profits and ownership in its investment held corporations (all Fortune 500 corporations and most major international corporations), you can run your little business as you wish within the limitations and constraints of government corporate law.

So what makes you think that national banks and the Federal Reserve are any different?

They too are government chartered, regulated by, and must follow the laws set forth by the Federal government: though they often bypass state laws since Federal statute allows for banks to follow only the usury laws of the state they are incorporated within (which is why the majority of banks are incorporated in Delaware).

So to suggest that banks have somehow gotten out of control or that they are running the government is preposterous!

And here’s why…

–≈–

The Government Owns These Banks Through Collective Stock Investment!

–≈–

As of June 30, 2009…

California State Teachers Retirement System (CalSTRS) owned 15,178,407 shares of JP Morgan Chase stock, with a market value of $517,735,463

California Public Employees’ Retirement System (CalPERS)  owned 11,096,822 shares of JP Morgan Chase stock, with a market value of $378,513

New York State Teachers Retirement System owns 230,612,653 shares of JP Morgan Chase stock, with a market value of $430,617,943

New York State and Local Retirement System owned 15,401,817 shares of JP Morgan Chase stock, with a market value of $689,231,311 – it also owns 36,845,430 shares of Bank of America stock ($657,690,926) – and 19,391,801 shares of Wells Fargo stock ($603,472,847)

Utah Retirement Systems owned at least 1,620,455 of JP Morgan Chase stock, with a market value of at least $67,542,360 – it also ownes at least 1,357,950 shares of Wells Fargo Bank

As of December 31, 2009…

Texas County and District Retirement System owned $38,100,000 worth of JPMorgan Chase Stock, and $37,800,000 worth of HSBC Holdings PLC stock

Teacher Retirement System of Texas owned 24,645,636 shares of Citigroup Inc. ($1,078,739,488) – 18,847,368 shares of Bank of America Corp. ($811,002,245) – 12,846,591 shares of American International Group Inc. ($760,518,187) – 12,749,900 shares of HSBC HLDGS Plc. ($204,776,965) – 3,900,940 shares of Royal Bank Scot Grp Ord ($113,730,029) –

As of June 30, 2009…

The State Government of Florida owned $503,973,296 worth of JP Morgan Chase stock. And it has ownership stock in all of the following in just one pension fund…

AMERICAN EXPRESS CO CONSUMER FINANCE $143,108,183

BANK OF AMERICA CORP OTHER DIVERS FINCL SVCS $453,561,129

BANK OF CHINA LTD CNY1 CHINA $27,043,166

CAPITAL ONE FINANCIAL CORP CONSUMER FINANCE $67,724,069

CITIGROUP GLOBAL MARKETS HLDGS VIETNAM $265,547
CITIGROUP GLOBAL MARKETS HLDGS VIETNAM $709,060
CITIGROUP INC OTHER DIVERS FINCL SVCS $224,134,769

DEUTSCHE BANK AG ORD NPV REGD  (GERMANY)  $36,968,333

DISCOVER (Card) FINL SVCS COM CONSUMER FINANCE $30,331,427

FIFTH THIRD BANCORP REGIONAL BANKS $42,679,179

HSBC HLDGS ORD USD0.50 (UK)  $188,386,651
HSBC HLDGS USD0.50 (HONGKONG)  $58,863,130

MASTERCARD INC DATA PROCNG/OUTSRCD SVCS $89,987,830

MORGAN STANLEY INVESTMNT BKG & BROKERAGE $98,343,415

T ROWE PRICE GROUP INC ASSET MGMT & CUSTODY BNKS $46,325,847

VISA INC DATA PROCNG/OUTSRCD SVCS $142,862,149

WELLS FARGO & CO DIVERSIFIED BANKS $413,485,056

ZIONS BANCORPORATION REGIONAL BANKS $15,469,162

BANK ALFALAH LTD PKR10 (PAKISTAN) $292,115
BANK BNI TBK LKD SHS(IDR7500 & INDONESIA) $508,749
BANK CENTRAL ASIA IDR62.50 INDONESIA $3,054,626
BANK COOP AG CHF20(BR) SWITZERLAND $79,655
BANK HAPOALIM B.M. ILS1 ISRAEL $12,772,437
BANK LEUMI LE ISRAEL B M ORD ISRAEL $5,284,179
BANK MARIN BANCORP COM REGIONAL BANKS $176,668
BANK MUTUAL CORP THRIFTS & MTG FINANCE $749,510
BANK OF AYUDHYA ALIEN MKT THAILAND $1,570,987
BANK OF BARODA INR10 (DEMAT) INDIA $11,704,380
BANK OF COMMUNICATION – RIGHT CHINA $212,530
BANK OF COMMUNICATIONS CO LTD CHINA $3,878,244
BANK OF COMMUNICATIONS CO. LTD CHINA $40,386
BANK OF CYPRUS PUBLIC CO LTD CYPRUS $1,478,907
BANK OF EAST ASIA HK$2.50 HONG KONG $6,240,641
BANK OF GEORGIA-144A GDR GEORGIA REPUBLIC $443,495
BANK OF HAWAII CORP REGIONAL BANKS $11,141,387
BANK OF JORDAN JOD1 JORDAN $61,920
BANK OF KYOTO Y50 BANKS $1,936,581
BANK OF MAHARASHTRA INR10 INDIA $94,739
BANK OF MONTREAL CDN DIVERSIFIED BANKS $18,975,552
BANK OF NAGOYA JPY50 BANKS $193,200
BANK OF NEW YORK MELLON CORP/T ASSET MGMT & CUSTODY BNKS $108,977,067
BANK OF NOVA SCOTIA CDN DIVERSIFIED BANKS $47,674,638
BANK OF PIRAEUS EUR4.77 GREECE $841,568
BANK OF QUEENSLAND LTD AUSTRALIA $1,437,587
BANK OF RYUKYUS Y500 BANKS $407,035
BANK OF SAGA Y50 BANKS $204,022
BANK OF THE OZARKS INC COM REGIONAL BANKS $5,534,880
BANK OF THE PHILIPPINE ISLANDS PHILIPPINES $8,042,154
BANK OF YOKOHAMA Y50 BANKS $3,708,115
BANK PEKAO PLN1 POLAND $14,415,466
BANK PPH POLAND $54,518
BANK RAKYAT INDONESIA INDONESIA $13,911,437
BANK VOZROZHDENIYE RUB10 RUSSIA $1,813,633
BANK ZACHODNI WBK PLN10 POLAND $898,968
BANKERS PETROLEUM LIMITED CDN OIL & GAS EXPL & PROD $630,984
BANKFINANCIAL CORP THRIFTS & MTG FINANCE $147,801
BANKINTER S A EUR0.3 REGD SPAIN $951,705
BANKMUSCAT (SAOG) OMR0.1 OMAN $6,748,653
BANQUE AUDI SAL GDR REG ‘S’ LEBANON $378,680

BANQUE CANTONALE DE GENEVE SWITZERLAND $150,858

BANQUE CENTRALE POPULAIRE MOROCCO FRS DB $84,804
BANQUE MAROCAINE DU COMM MOROCCO $164,962
BANQUE NATIONALE DE BELGIQUE BELGIUM $370,079

BANCA GENERALI EUR1 ITALY $491,953
BANCA MONTE DEI PASCHI DI ITALY $1,213,561
BANCA POPOLARE DI MILANO ITALY $1,945,436
BANCFIRST CORP REGIONAL BANKS $1,042,517
BANCO BILBAO VIZCAYA SPAIN $18,329,664
BANCO BPI SA PORTUGAL $48,869
BANCO BRADESCO SA BRAZIL $46,650,450
BANCO COMMERCIAL PORTUGUESE PORTUGAL $1,049,155
BANCO COMPARTAMOS SA COM STK MEXICO $9,264,537
BANCO CRUZEIRO DO SUL SA PRF BRAZIL $34,127
BANCO DAYCOVAL SA PRF STK BRAZIL $744,519
BANCO DE ORO UNIBANK INC PHP10 PHILIPPINES $243,857
BANCO DE SABADELL SA NEW SPAIN $2,091,606
BANCO DE VALENCIA EUR0.25 SPAIN $523,964
BANCO DI DESIO E DELLA BRIANZA ITALY $675,331
BANCO DO BRASIL SA COM NPV BRAZIL $14,595,199
BANCO ESPIRITO SANTO SA PORTUGAL $1,006,972
BANCO ESTADO RIO GRANDE DO SUL BRAZIL $2,199,193
BANCO GUIPUZCOANO EUR0.25 SPAIN $4,922
BANCO INDUSTRIAL ET COMMERICAL BRAZIL $288,894
BANCO LATINOAMERICANO DE DIVERSIFIED BANKS $1,551,208
BANCO MACRO SA ARGENTINA $571,330
BANCO NOSSA CAIXA SA NPV BRAZIL $489,086
BANCO PASTOR SA EUR0.33 SPAIN $209,471
BANCO PATAGONIA SA BDR EACH ARGENTINA $201,033
BANCO PINE SA PRF STK NPV BRAZIL $188,972
BANCO POPOLARE SOC COOPERATIVA ITALY $2,123,982
BANCO SANTANDER (BRASIL) SA BRAZIL $3,419,902
BANCO SANTANDER BRASIL-ADS BRAZIL $12,792,145
BANCO SANTANDER CHILE NEW CHILE $35,964,440
BANCO SANTANDER SA – RTS SPAIN $1,552
BANCO SANTANDER SA EUR0.50 SPAIN $163,738,535
BANCO SANTANDER SA EUR0.50 SPAIN $266
BANCO SOFISA S A PFD SHS NPV BRAZIL $67,937
BANCOLOMBIA SA COLOMBIA $4,984,486
BANCOLOMBIA SA COLOMBIA $27,109,681.8
BANCORP INC DEL REGIONAL BANKS $220,641
BANCORP RHODE ISLAND INC COM REGIONAL BANKS $229,119
BANCORPSOUTH INC REGIONAL BANKS $3,693,111

BB&T CORP COM REGIONAL BANKS $64,779,613

CAPITAL CITY BANK GROUP INC REGIONAL BANKS $390,873
CAPITAL GOLD CORP GOLD $297,012

MF GLOBAL HLDGS LTD COM INVESTMNT BKG & BROKERAGE $2,775,197

SURUGA BANK LTD Y50 BANKS $2,230,253

SUMITOMO MITSUI GR NPV BANKS $39,559,087

SWS GROUP INC INVESTMNT BKG & BROKERAGE $427,534

UNION BK OF ISRAEL ILS0.01 ISRAEL $69,596
UNION BNK OF INDIA INR10 INDIA $4,237,967

Now if the enormousness of this is lost on you for God knows what reason, this is a very incomplete list of banks that the State of Florida has financial stock ownership investments in.

Since the State of Florida is just one of thousands and thousands of governments in the United States, the combined or “collective” ownership of banks should be apparent.

The government owns the banks.

The government regulates and de-regulates the banks.

The government pretends to be tough on banks… but why would they do that if the banks are making them money. Would a king prosecute himself if the people asked him to???

The government is the courts. And the attorney’s on both sides of the court work for the government (the court).

The government votes on mergers and acquisitions, Board’s of Director’s (and CEO’s through the boards, and other corporate governance issues. Each government with stock investments above gets a certain number of votes, depending on stock type and amount.

The banks fund political campaigns and were the same top contributors to Obama’s and McCain’s campaigns. Left and right, Democrat and Republican are illusion at the top of the pyramid.

When the banks fund both sides of a war, the government is voting to do this through proxy vote as majority shareholder.

The government runs the banks, not the other way around.

The banks are just one strongarm of government. To blame banks for the downfall of the economy would be like blaming an atomic bomb for destroying your city, without ever putting the blame on the government or military who built and launched that bomb.

QUIT BLAMING THE BANKS!!!

START PUTTING THE BLAME WHERE IT BELONGS!!!

THE GOVERNMENT IS THE BANKS!!!

THE GOVERNMENT IS THE PHARMACEUTICAL AND MEDICAL INDUSTRY!!!

THE GOVERNMENT IS THE AUTO INDUSTRY!!!

THE GOVERNMENT IS THE MEDIA!!!!!!!!!!

THE GOVERNMENT OWNS EVERYTHING… ALL PEICES OF THE CONTROL GRID!!!

-Clint Richardson-

  1. The Federal Reserve owns the dot gov.
    The Federal Reserve created the IMF and the World Bank, in anticipation that eventually, they would, as they now have, fall out of favor among the people.

    Yes, you can say that the gov owns the banks, or vice veresa. Very unfortunate situation for the people.

    Part of the AWAKENING is to the fact that regardless of the LAWLESS Nature of Public SERVANTS, the REAL government of the USA is We the people. and this is an Official Communication from that government.

    We reject their debt announcments as announcing the total enslavement of mankind. Born and not even conceived, for all future generations of humanity.

    Their debt, which is an Odious Debt, (a Legal term), is theirs and theirs alone, to be dealth with.

    We the people CAN and WILL round up those truly responsible, and either ship them off to China, where THEY can work out the rest of their unnatural lives to repay their own debt, or, we take them to a tiny Island in the Carribbien, standing room only, in the path of an on-coming hurricane, and let them be dealth with directly by God.

    We the people REJECT their debt as being owed by us, and recognize that ALL of it, ALL, is based on a US Constitutionally Counterfeit Note, to which there can be NO taxation without representation, and NONE of us here today were here in 1913. Their “debt” is entirely based upon FRAUD, being PAPER backed ONLY by still more PAPER, of NO intrinsic value, and returning to it’s own “intrinsic value,” which is ZERO (Voltaire, 1729).

    The Federal Reserve is a CENTRAL BANK, which has created all the other Central Banks, running the planet. Their season is coming to a swift street justice kind of END.

    They have used their fraudulent system to STEAL from the American people. We want it back, and we are willing to FIGHT to have it RETURNED to us in FULL.

    http://www.ivamu.com/

    and,

    http://wwwperfecteconomy.com/

    • admin says:

      It’s easy to shake your tail feathers and say we will round them up and punish those responsible. But the reality is that we’ve been saying that since the revolutionary war. Yet “they” remain in power.

      What Walter is offering is the only peaceful way to take back this power and investment through lawful means, and through a vote of we the people.

      Directed energy weapons make your AK look like a pop gun, so armed revolt is not really an option.

      Quit talking tough and do something reasonable.

      Call Mr. Burien and help the man change the world with his TRF’s.

  2. chris says:

    I really enjoyed the information in the Video I was attempting to locate the Florida 2009 state investment and holdings report and cannot find it does anyone who produced the Movie have a link for that 1400 pg report please, it will help me open the eyes of some of my floridian friends as how we are being ripped off.

  3. Peter Klimon says:

    Chris,

    I want to commend you for your efforts in educating the public about governmental corporations. I do however have to say I am having difficulty confirming some of your claims in your movie where you stated that government owns 83% stock in Microsoft, Motorola, etc. Could you please point me to sources where I can research this myslf? Although I am certain that city, state & federal governments do own stock in virtually all Fortune 1000 companies I think you need to be more forth coming in how they are actually invested in these companies. Is it not true that most of these stock options are owned through Mutual Fund type investments where they actually do not have direct control?

    Also isn’t there a difference between private and governmental corporations? I am fairly new to this so please bear with me if I seem to be asking such detailed questions. I am not fully convinced that government corporations are so detrimental to our society. I do feel that the persons running these institutions in our name have totally overstepped their authority and have abused the trust we have bestowed on them in the name of the public good.

    Sincerely,
    Peter
    Villa Park, IL

    • admin says:

      Thank you Peter. In order to see the actual stock holdings for each corporate “government”, you must request the document from the government. I do not have the time or resources to do this. It would literally take one person years of compiling to do this. That is the best way to hide this wealth and ownership from the public!

      I can however take a quick look at the “Top 10 Stock Holdings” section on just the pension funds. Here are a few examples of the ownership in Microsoft by just a hand full of Pension Funds across the country (as of 2009 CAFR’s)…

      Keep in mind that this represents many hours and many days of research. Feel free to verify these figures by viewing the CAFR’s themselves for the pension funds listed.

      If this list of just a few funds doesn’t convince you, considering that yes, most other investments are through institutional funds (government mutual funds with mutual proxy voting rights) then I’m not sure what will wake anyone up.

      Pension Fund Name……………………………………….. # of stocks owned………..$ amount at fair value of stock (as of fiscal year 2009)

      Arizona Public Safety Personnel Retirement System………………..1,249,053……….29,689,993
      -Tucson Supplemental Retirement System…………………………….106,335……….2,528,000
      Arkansas Pubic Employees Retirement System…………………………447,063……….10,626,687
      California Public Employees Retirement System (CalPERS)………23,139,951……….550,037,000
      California State Teachers Retirement System (CalSTRS)………..30,246,140……….718,950,748
      -Los Angeles City Employees’ Retirement System………………..1,334,356……….31,717,642
      -Los Angeles County Employees Retirement Association ………1,052,760……….25,024,000
      -Merced County (CA) Employees’ Retirement Association…………..74600……….1,773,242
      -Orange County (CA) Employees Retirement System……………….506,010……….15,428,232
      -Sacramento County Employees’ Retirement System……………….789,065……….18,756,000
      -San Jose Federated City Employees Retirement……………………..146,010……….3,470,658
      Colorado Public Employees’ Retirement Association……………….9,500,264……….289,663,000
      -Denver (city/county) Employees Retirement Plan…………………….91,040……….2,775,810
      Connecticut Combined Investment Funds (CIF)…………………………………………….77,909,954
      District of Columbia Retirement Board (FF, Police, Teachers)………637,952……….16,516,577
      Florida Retirement System – Defined Benefit Pension Plan………………………………588,114,660
      Florida Retirement System – Investment Plan……………………………………………….1,779,993
      Georgia Teachers Retirement System…………………………………12,058,868……….286,639,292
      Hawaii Employees’ Retirement System…………………………………..1,489,51……….40,976,530
      Idaho Public Employee Retirement System……………………………2,254,973……….53,600,708
      Illinois Teachers Retirement System……………………………………………………………78,975,064
      Indiana Public Employees’ Retirement Fund………………………….2,277,540……….54,137,000
      Indiana State Teachers’ Retirement Fund………………………………..520,440……….12,370,859
      Kansas Public Employees Retirement System (2008 totals)………1,886,491……….51,897,367
      Kentucky Retirement Systems – Insurance Fund……………………… 493,300……….11,725,741
      Kentucky Retirement Systems – Pension Fund……………………….2,329,200……….55,365,084
      Kentucky Teachers Retirement System………………………………………………………..134,937,797
      Louisiana State Employees Retirement System……………………….1,184,930……….28,165,786
      Louisiana Teachers Retirement System…………………………………1,249,626……….29,703,610
      Maryland State Retirement and Pension System……………………..5,068,769……….120,484,639
      Massachusetts Pension Reserves Investment Trust Fund………………………………..89,423,000
      Michigan Public School Employees’ Retirement System………….11,509,213……….297,973,514
      Michigan State Employees Retirement System………………………. 2,790,691……….72,250,984
      Minnesota Public Employees Retirement Association……………………………………..117,500,000
      Minnesota Teachers Retirement Association…………………………………………………114,400,000
      Mississippi Public Employees’ Retirement System…………………..4,449,654……….105,768,276
      Nevada Public Employees Retirement System (2008)……………………………………..154,401,581
      New Hampshire Retirement System………………………………………..618,890……….14,711,000
      New Jersey Division of Pensions and Benefits………………………22,000,000……….522,900,000
      New Mexico Educational Retirement Board (Pension)………………1,379,668……….35,719,605
      New Mexico Public Employees Retirement Association……………1,821,750……….43,302,998
      New York State and Local Retirement System………………………27,600,310……….807,861,074
      New York State Teachers Retirement System………………………………………………..609,036,723
      -New York City Board of Education Retirement System………………………………..13,942,032
      -New York City Employees Retirement System…………………….9,922,237……….235,851,573
      -New York City Fire Pension Fund……………………………………..1,423,155……….33,828,394
      -New York City Police Pension Fund…………………………………..5,221,466……….149,125,068
      North Dakota Public Employees Retirement System…………………………. ???……….#1 Largest Holding
      Ohio Highway Patrol Retirement System……………………………………45,200……….878,687
      Ohio Public Employees Retirement System (2008)………………..16,051,844……….312,047,847
      Ohio School Employees Retirement System (SERS)………………….1,176,434……….27,963,836
      Ohio State Teachers Retirement System……………………………..16,879,470……….401,225,002
      Oklahoma City Employee Retirement System…………………………….38,300……….910,391
      Oklahoma Teachers Retirement System………………………………………………………51,319,192
      Oregon Public Employees Retirement System………………………..2,683,556……….63,788,126
      Pennsylvania Municipal Retirement System……………………………..220,200……….6,711,696
      Pennsylvania Public School Employees Retirement System………1,667,000……….39,619,000
      Tennessee State Pension Trust Funds………………………………….7,003,500……….166,473,195
      Texas County and District Retirement System………………………………………………54,600,000
      Texas Employees Retirement System …………………………………..5,704,300……….140,610,995
      Texas Teachers Retirement System…………………………………………………………….471,106,585
      Utah Retirement Systems……………………………………………………..543,573……….16,573,541
      Utah Retirement Systems…………………………………………………..1,655,950……….50,489,916
      Virginia Retirement System………………………………………………..6,487,003……….154,196,056
      Washington State Department of Retirement Systems…………………………………….7,825,000

      Any more questions?

      You guys gotta do your own research! I need help… Focus locally!!!

      -Clint-

      • Peter Klimon says:

        Clint,

        The figures you presented would have been easier to understand if you had also added the column for total shares outstanding? The figures as presented really do not show the actual share of total stocks owned by the corporations listed. For example:

        Pension Fund Name…………… # of stocks owned………..$ amount at fair value of stock (as of fiscal year 2009)

        Arizona Public Safety Personnel Retirement System………………..1,249,053……….29,689,993
        -Tucson Supplemental Retirement System…………………………….106,335……….2,528,000
        Arkansas Pubic Employees Retirement System…………………………447,063……….10,626,687 , etc..

        It would have helped immensely to also have the column for total shares to compare against or at least a link to the site where you obtained this info. Although I appreciate the fact that you have spent a tremendous amount of time on this research, you would reach a much wider audience if you could provide supporting links whenever possible. Unfortunately we live in a time when most visitors will not spend the time required to find these links themselves. This is a fact that I have found out myself the hard way so I encourage you to take the extra time to add the crucial links or otherwise most users will probably not pass along your research?

        I appreciate the effort you have put into this and want to thank you.

        Peter

  4. LEE says:

    YOU GUYS ARE WRONG ABOUT THE BANKS!!!!THE BIG BANKS!!!!!CORPORATIONS AND GLOBALISTS ARE IN CONTROL!!!!PLEASE CONTECT THE DOTS!!!!!!!!!!!!

    • admin says:

      I’m one guy… and since government is a corporation, or a series of stringed together corporations, you are absolutely correct.

      If you do some research, you will see that “government funds” are the root cause of globalization, thus the “globalists” you refer to are the government fund managers, which have investments all around the world. Government and its investment held corporations are the “globalists”.

      Now… the dots show that government collectively has controlling stock investment in Bank of America, Wells Fargo, J.P. Morgan Chase, HSBC, and on and on and on across the world.

      Control is a funny word. Banks are controlled by two things:

      1) Banks are chartered. That means they must follow a set of rules to stay in business set by government. Those rules are “bank friendly” as you would expect, simply because the rule-makers are government, the major share-holder of banks and the main decision maker for the boards of those banks.

      2) Banks are controlled by shareholder interest, just as any corporation is. Bill gates has a minuscule share of Microsoft stock, thus he is not the boss. Government owns about 83% of that company, thus government tells Gates what to do. Likewise, since banks are operating under charter and government law, they do what the government wants.

      If you have proof that this is not the case, by all means share that here. As of now, your statement is at best an illogical fallacy, based on public opinion, or at least popular alternative conspiracy opinion.

      In part 2, I will prove this without a doubt.

      -Clint-

  5. Lulu says:

    I have a question and someone I know on FB suggested you all would know the answer. If you don’t, or if you aren’t *certain*, do you have any suggestions as to who else I can ask?

    Question: When I watched Freedom to Fascism, Aaron Russo tells us that corporate taxes pay for only the military, and that the military only gets revenue from corporate taxes. Though I believe this to be true, I can’t get verification. My Congressman’s office’s tax “expert” couldn’t answer me, either. I was told to examine the Federal budget, but that doesn’t specify which revenue stream is going where.

    I know the Constitution does not allow the Federal government to put all taxes into a pool, then have Congress vote where the taxes go from there, right? The Constitution requires that a tax’s ultimate destination must be established in the law that allows for it’s collection, right? If I can’t come up with some sources for this, how can I bring it up at political meetings? No one at the local US uncut group wanted to talk about this. They are a protest planning group more than a political organization. But I am not going to risk getting arrested, perhaps hurt, (heck, even spend a much needed Saturday) at a protest of a corporation, if the money is by law destined only for the military.

    From what I read here you all don’t seem like you would agree with Russo on the issue of who owns the FedRes, but I am not even concerned with that question. There has been a lot of talk in the MSM press lately (which of course makes me suspect) of the delinquency of corporate tax payers. Uncut has moved here from the UK and has been protesting BOA. If what Russo said is true, isn’t that as though the kids protesting in the streets outside BOA are in fact acting as collectors for Halliburton and Boeing?

    • admin says:

      One of the big complaints is that the Federal Income Tax is un-apportioned, which is unconstitutional. So if this is the case, how can Mr. Russo then claim that these taxes are going to fund the military (taxes apportioned to that source)?

      Congress, according to the constitution anyway, votes for military funding every two years. This is in the constitution as follows…

      Article I, Section 8 – The Legislative Branch – “To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years; To provide and maintain a Navy”

      Article II, Section 2 – The Executive Branch – “The President shall be Commander in Chief of the Army and Navy of the United States, and of the Militia of the several States, when called into the actual Service of the United States”

      So according to this, war funding must be approved by congress every two years. U.S. CODE may have changed that article, but I don’t know.

      If I remember correctly, I do remember hearing somewhere that the corporate income taxes that are collected are about the same as the military budget, but don’t quote me on that. The Income Tax Code is larger than a child, so I guess if you have the time to research, maybe the answer can be found.

      My answer… as far as I know, the income tax is not designated to anything, remaining un-apportioned. But I have not done that research. You can call the IRS if you dare. They will answer your questions, maybe…

      Hope this helps.

      -Clint-