When the U.S. Congressional Pujo Committee investigated
the conspiracy of interlocking directorates (the fact that multiple corporate
boards were made up of the same people across multiple industries including
ones with conflicts of interest) in 1912 and 1913, they realized that, in the
decades following the Civil War, the United States had become effectively
controlled (through its monetary system) by a few life insurance and banking
interests.
The mechanisms were very transparent. Wages were set to be barely sufficient to motivate
persistence of labor. Not surprisingly,
the knowledge of labor costs was shared by, you guessed it, directors who got
inside knowledge of each other’s businesses and could thereby control the labor
supply. Consumption was encouraged to
keep people addicted to whatever was “new” or “modern”. And all of this was an elaborate scheme
concocted to enrich the life insurance industry and their capital beneficiaries
– banks.
And why do I call them beneficiaries? Simple.
The principal beneficiary of the life insurance payout in the rare
instance that happens is the banks who hold unpaid debt – both consumer credit
and mortgages. To this day, have you
ever wondered why purchasing a home often involves the usurious practice of
also buying Private Mortgage Insurance (PMI)?
That’s because the real beneficiary of your home purchase is the: a)
bank that creates your debt asset; and, b) the insurer who seldom, if ever,
pays out.
To keep it simple – here’s how the scam worked then
AND WORKS NOW!
1.
Keep people paid just at the margin of ‘enough’ but
encourage them to live just a little beyond their means to ensure that
indebtedness was persistent and would incentivize indentured obligations;
2.
Encourage credit - particularly in mortgages – by incentivizing
‘home ownership’ for the purpose of manufacturing debt ‘assets’ for banks;
3.
Sell life insurance to settle indebtedness in death
never telling the public how much present value was lost in meeting actuarial
obligations in death; and,
4.
Set the maturity of life insurance to lead many people
to buy products that never would pay out in death (term policies).
In my film, American R/evolution (https://winderwebdesign.com/davidmartin/american-r-evolution/)
– a two hour history of the death denominated U.S. economy - I discuss the thinly
veiled control that life insurance has had on our country since the Civil
War.
So, as I was musing about who
might be benefiting from the charade playing out before us now and in which we
are all thought to be simpletons, I wondered how much has changed.
“Why not,” I thought, “read House
Resolution 6312 recently introduced by Congress entitled the “COVID–19
Relief for Small Businesses Act of 2020”. Heralded as a landmark rescue package for the
businesses that employ an estimated 90% of America, this $350 billion out of
the $2 trillion package (yes, you should pause and think about how horrific the
mismatch ratio is), I was optimistic that I’d see the best interest of Small
Business as the leading priority.
Then came the bad news.
Before payroll for small business is even mentioned,
the real beneficiaries are named. Have a
look for yourself. The $350 billion
bailout is so that:
1.
banks can get their loans repaid;
and,
2.
life
insurers can keep getting their premiums.
See for yourself!
Paying wages is the third priority.
Where were any of the real or fake news outlets when
they were fawning over this bill? That’s
right. NOT READING IT! Your tax dollars
are being spent on yet another banking and life insurance protection racket!
|
116th CONGRESS
2d Session |
H. R. 6312
To
provide relief from COVID–19 for small business concerns, and for other
purposes.
IN THE HOUSE OF
REPRESENTATIVES
March 19, 2020
Ms. Velázquez introduced the
following bill; which was referred to the Committee on Small Business
A BILL
To provide relief from COVID–19 for small business
concerns, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF
CONTENTS.
(a) Short Title.—This Act may be
cited as the “COVID–19 Relief for Small Businesses Act of 2020”.
SEC.
2. BUSINESS STABILIZATION DIRECT
LOAN PROGRAM.
(a) In General.—The Administrator of the
Small Business Administration shall carry out a program to make loans directly
to eligible borrowers.
(b) Eligible Borrower Defined.—In this
section, the term “eligible borrower” means a person who—
(1) is a small
business concern as defined under section 3 of the Small Business Act (15 U.S.C. 632); and
(2) is located in a
State or territory of the United States with a confirmed or presumed positive
case of COVID–19.
(c) Use Of Funds.—In addition to the use of
proceeds currently permitted under section 7(a) of the Small Business Act (15 U.S.C. 636(a)), loans made under this
section may be used for the following purposes:
(1) To make periodic
payments of principal and interest, for a period not to exceed 12
months, on a loan or a loan guarantee made to an eligible borrower that meets
the eligibility standards of such section 7(a).
(2) To provide
benefits to employees of the eligible borrower, including group life
insurance, disability insurance, sick leave, annual leave, educational
benefits, paid family leave, or retirement benefits (including a pension plan
or IRA).
(3) To pay wages to
employees of the eligible borrower, and related State and Federal payroll
taxes, except that loan proceeds may not be used to pay amounts under a
garnishment order issued by an agency of a State or Federal Government.
People, this is NOT acceptable.
With the Fed making trillions available for bank liquidity, with small
business preserved so that they can keep paying loans and life insurance – when
will the complicity of this end?
Since I recently learned that footnotes are not accessed by most
readers, here’s some information that you might like to see from the industry
that needs your taxpayer bailout. https://www.iii.org/fact-statistic/facts-statistics-life-insurance. Have a good look. These unfortunate firms reported:
“2018 net income
after taxes for the life/annuity insurance industry fell 10.0 percent to $37.9
billion, from $42.1 billion in 2017. Net income before capital gains fell 15.8
percent in 2018, and a net realized capital gains loss of $4.7 billion
contributed to lower net income. Premiums and annuity considerations rose
slightly in 2018, up 1.3 percent from 2017, as annuity premiums and deposits
fell 6.1 percent. Expenses grew by 10.8 percent in 2018 following a drop in
2017. Capital and surplus rose to $400.0 billion in 2018.”
While
you watch governors and Presidents around the world breathlessly recite death
counts from the scourge that besets us that is credited with 10% of the normal
pneumonia deaths reported during the same period; when you see that the
only data supporting social-distancing are computer models that were off by an
order of magnitude just one week ago; and when, god-forbid, you look at
the Center for Responsive Politics data that shows that one lobbying firm
(and only one of their lobbyists) is engaged by 55 clients including most of
the major life insurers, bio-tech pharmaceutical companies, and non-profits that
include CDC Foundation partners, don’t think for a moment that the branding of
COVID-19 is for your health’s sake!
Be
informed:
And
share this information with a public that is playing into the Kabuki Theatre
that will end up with nothing but destruction!
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Thank you for sharing these impossible to dispute facts.
ReplyDeleteBrilliant David - Thank you - A world based on corruption
ReplyDeleteNever felt called to invest in "life insurance" now I know why!!
ReplyDelete