Those who follow the scandals of the pharmaceutical industry closely, and who have a knack for understanding their economics via the state-created monopolies granted to these companies, know the power these most unscrupulous companies often wield. We’ve seen companies use the power of the state to grant themselves monopolies on decades-old drugs, and, in turn, spike the prices to astronomical levels. However, we’ve never heard of an instance of pharmaceutical companies deliberately destroying life-saving products to force the state to raise the price of its drugs — until now.
Cancer drugs and their makers are often surrounded by controversy and conspiracy theory. However, they remain in high demand because people rely on them during their battles with cancer. This high demand, over the years, has created a higher supply and by a function of the market — even though it is a state controlled market — resulted in a lower price.
This natural function of the market apparently infuriated one of the world’s leading pharmaceutical companies. So, as appears to be the norm in the pharma industry, they took unethical and illegal action to change it.
According to a scathing report out of the London Times, who recovered leaked internal emails from Aspen Pharmacare, corruption is the norm and is even celebrated.
Leaked internal emails appear to show employees at one of the world’s leading pharmaceutical companies calling for “celebration” over price hikes of cancer drugs, an investigation has revealed.
Staff at Aspen Pharmacare reportedly plotted to destroy stocks of life-saving medicines during a price dispute with the Spanish health service in 2014.
After purchasing five different cancer drugs from British firm GlaxoSmithKline (GSK), the company tried to sell the medicines in Europe for up to 40 times their previous price, reported The Times.
The price of Busulfan, a drug used to treat leukemia, rose from £5.20 to £65.22 in England and Wales after this move. Other drugs for fighting cancer quickly skyrocketed as well.
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What do you do if your unscrupulous business practice of destroying product to manipulate the price of life-saving medicine pays off? Well, you celebrate, of course.
In a confidential email published by The Times, an Aspen employee appeared to write: “We’ve signed new reimbursement and price agreement successfully: price increases are basically on line with European target prices (Leukeran, a bit higher!)… Let’s celebrate!”
As the Independent reports:
According to The Times’s investigation, the company said it would stop supplying Italy with the drugs in October 2013 if authorities did not agree to price rises of up to 2,100 per cent in three months.
This all-powerful pharma company was essentially caught holding the government hostage in an unethical ploy to increase their bottom line.
Naturally, they were held accountable and those who facilitated this fraud were brought to task, right? Wrong.
A Department of Health spokesperson told the Independent that they are simply proposing more laws to “take action against excessive price rises on unbranded generic medicines.”
“We are working closely with the Competition and Markets Authority on unwarranted price rises of unbranded generic medicines, and where companies have breached competition law, we will seek damages and invest that money in the NHS.”
Sadly, these measures will likely be in vain.
As the Free Thought Project reported last year, Aaron Kesselheim, an associate professor of medicine at Harvard Medical School was the co-author of paradigm-shattering research on drug prices, which led to the Journal of the American Medical Association officially recognizing why drug prices skyrocket in America. Big pharma is granted a monopoly by the state which effectively eliminates their competition and allows them to charge any price they want — so they do.
The paper, published on August 23, The High Cost of Prescription Drugs in the United States: Origins and Prospects for Reform, set out to “review the origins and effects of high drug prices in the US market and to consider policy options that could contain the cost of prescription drugs.”
The companies who make these drugs are not beholden to any state, which makes this study applicable to the Aspen case as well.
What the paper’s authors, Harvard Medical School doctors Aaron Kesselheim and Jerry Avorn, and jurist Ameet Sarpatwari, found and subsequently admitted, shatters the very assertion that government regulation in the market is needed to keep medical care costs low. In fact, their findings were quite to the contrary.
According to the paper:
“The most important factor that allows manufacturers to set high drug prices is market exclusivity, protected by monopoly rights awarded upon Food and Drug Administration approval and by patents.”
It seems Aspen also knows this as well, and has, like so many companies before them, chosen to game the system.
An investigative reporting coalition recently released a report alleging a multi-billion dollar money laundering operation that has affected hundreds of banks and companies in 96 countries including the repeat offender, HSBC.
In 2012, HSBC, one of the world’s largest banks, settled with the U.S. Government, avoiding criminal prosecution of its executives, for helping to launder money for Mexican drug cartels as well as Al Qaeda. According to the US Senate’s report, which investigated the matter, HSBC provided a “gateway for terrorists to gain access to U.S. dollars and the U.S. financial system.”
Loretta Lynch, while serving as the U.S. District Attorney in NY said HSBC engaged in a, “sustained and systemic failure to guard against the corruption of our financial system by drug traffickers and other criminals and for evading U.S. sanctions law.” As a result of the criminal charges for money laundering and admitted guilt in four counts against the global banking firm — the megabank was let off with a slap on the wrist.
“HSBC has agreed to forfeit 1.256 billion dollars, the largest forfeiture amount ever by a financial institution for a compliance failure,” Lynch stated.
Because they were let off with zero criminal charges, the bank was allowed to go back to crooked business as usual.
The Organized Crime and Corruption Reporting Project published a comprehensive narrative that details how billions of dollars were moved from Russian sources to bogus shell companies before traveling further into various banks, and ultimately numerous companies that inadvertently accepted corrupt funds.
The OCCRP reports:
Money entered the Laundromat via a set of shell companies in Russia that exist only on paper and whose ownership cannot be traced. Some of the funds may have been diverted from the Russian treasury through fraud, rigging of state contracts, or customs and tax evasion. Money that might have helped repair the country’s deteriorating roads and ports, modernize the health care system, or ease the poverty of senior citizens – was instead deposited in a Moldovan bank.
At the other end of the Laundromat, money flowed out for luxuries, for rock bands touring Russia, and on a small Polish non-governmental organization that pushed Russia’s agenda in the European Union. (It is run by Mateusz Piskorski, a Polish pro-Kremlin party leader arrested for spying for Russia).
The Guardian noted the”ingenious” strategy behind how the money was easily relocated from faceless companies to banks. “Typically, company A ‘loaned’ a large sum of money to company B. Other businesses in Russia – fronted by Moldovans – would then guarantee these ‘loans’. Company B would fail to return the ‘money’. Moldovan judges would authenticate the “debt”, allowing Russian companies to transfer real money to a bank in Moldova,” The Guardian reported.
HSBC, which is headquartered in London, processed US$545.3m in Laundromat cash, mostly routed through its Hong Kong branch, according to the Guardian.
In response to these allegations, HSBC said, “This case highlights the need for greater information sharing between the public and private sectors, each of whom holds important information the other does not.”
“The bank has systems and processes in place to identify suspicious activity and report it to the appropriate government authorities.”
Apparently, those ‘systems and processes’ aren’t good enough to catch hundreds of millions of dirty money coming through.
An OCCRP infographic further explained that all of the “debt” settlements consistently involved a citizen of Moldova.
A great number of banks accepted these funds easily, and the scheme touched upon at least 96 countries receiving the tainted money including the United States, with money ending up at Citibank and Bank of America. The OCCRP reported that “the 21 shell companies fired out 26,746 payments from their various Trasta Komercbanka and Moldindconbank accounts” between 2011 and 2014.
Earlier estimates of about $20 billion in laundered money through this project were initially reported, but recent projections have increased that number to as much as $80 billion.
While the OCCRP first reported on this operation three years ago, knowledge of the corruption has only begun to reach mainstream news outlets. The Guardian reports that the suspected “architect” behind this massive undertaking is Moldovan businessman Vyacheslav Platon. Platon was arrested and extradited to Moldova in 2016 and has so far denied evidence of any crime.
Moldova has accused Russia of “harassment” related to its investigation of the operation which has been commonly referred to as the “Global Laundromat.” The OCCRP echoed that “law enforcement in Moldova, Latvia, the United Kingdom, and Russia continue to investigate the Laundromat, but attempts to bring those responsible to justice and to recover the money have been hampered in part by the reluctance of Russian officials to cooperate.”
Rep. Paul D. Ryan (R-Wis.) and Sen. Mitch McConnell (R-Ky.) watch President Trump deliver his inaugural address Jan. 20. (Chip Somodevilla/Getty Images)
On paper, Microsoft’s facility in Puerto Rico was wildly profitable. With just 177 workers, the plant recorded $4 billion in earnings in 2011, a Senate investigation found.
The gimmick was entirely legal. According to the Senate’s report, the software company’s lawyers were channeling its profits from sales all over the country through the Puerto Rican operation, getting Microsoft out of about $1.5 billion in taxes a year.
It was the kind of scheme that designers of congressional Republicans’ tax proposal hope to eliminate. The vast sums Microsoft saved hint at how much money is at stake for corporations that rely on similar strategies to reduce their taxes, which are especially common among technology firms and other companies with valuable brands, patents and copyrights.
Understanding the uncertain and potentially disruptive consequences of the GOP plan, known as a “border adjustment tax,” has become an urgent priority for U.S. firms — not just in Silicon Valley, but throughout the corporate sector, said John Gimigliano, a principal at KPMG in Washington.
“It is a pretty significant departure from the current system of taxation,” he said. “It’s almost impossible to talk about anything else.”
From Redmond to Puerto Rico
The Senate investigation into Microsoft’s taxes in 2012 described this kind of legal strategy in detail. First, Microsoft had sold a share of its brands and copyrights to its subsidiary in Puerto Rico. The U.S. territory’s rules for taxes are different from those that apply to businesses in the 50 states.
The Puerto Rican subsidiary made an impressive profit on that investment over the years — profits that would otherwise have accrued to Microsoft’s main office in Redmond, Wash., where they would have been subject to ordinary federal taxes.
Microsoft’s practices were typical, experts say. Many multinational firms set up subsidiaries in jurisdictions with minimal taxes — whether in Europe, Asia or the Caribbean — and then pay those subsidiaries for goods and services. Those payments come out of the income taxed in the United States.
In 2011, for example, the Puerto Rican entity paid $1.9 billion to the main U.S. company as an installment on its initial purchase of the intellectual property. Microsoft then manufactured copies of its software in Puerto Rico and imported it back onto the mainland for sale.
In 2011, the Puerto Rican subsidiary’s $4 billion in earnings were taxed at a rate of 1 percent.
“This structure is not designed to satisfy any specific manufacturing or business need,” the committee’s report concluded. “Rather, it is designed to minimize tax on sales of products sold in the United States.”
Microsoft cooperated with the congressional investigation, according to the Senate report, which presented no evidence of wrongdoing or lawbreaking.
“In conducting our business at home and abroad, we abide by U.S. and foreign tax laws as written,” Microsoft vice president William Sample told the Senate Permanent Subcommittee on Investigations. “That is not to say that the rules cannot be improved — to the contrary, we believe they can and should be.”
A spokesman for Microsoft declined to comment on whether the company would support the GOP proposal or on whether the company’s practices had changed.
Western Union admitted it behaved criminally through its “willful failure to maintain an effective anti-money laundering program and aiding and abetting wire fraud,” reports Forbes. They’ve agreed to pay a $586 million fine. From the Forbes article:
In a statement from the U.S. Department of Justice and Federal Trade Commission on Thursday, authorities describe insufficient or poorly enforced policies that resulted in the funneling of hundreds of millions of dollars in proceeds from illegal gambling, fraud and drug and human trafficking.
In one case, illegal immigrants from China sent money back to the people who smuggled them across the border. With the help of employees, the payments were structured so that they didn’t trigger reporting requirements under the Bank Secrecy Act, say authorities.
In another example, Western Union processed hundreds of thousands of transactions for an international scam, wherein fraudsters directed people to send money in order to claim a prize or help a relative. Western Union employees often processed the payments in return for a cut of the proceeds, say authorities.
Wifredo A. Ferrer, the U.S. Attorney in Miami, said the misconduct reflected “a flawed corporate culture that failed to provide a checks and balances approach to combat criminal practices.”
“Western Union’s failure to implement proper controls and discipline agents that violated compliances policies enabled the proliferation of illegal gambling, money laundering and fraud-related schemes,” he added.
I’m not a fan of civil asset forfeiture, which is basically a way for law enforcement to steal money and assets from anyone without charging them with a crime. But in this case, it seems appropriate for the government seize the assets of the CEO of Western Union, Hikmet Ersek, until he can prove that his $8.5 million salary didn’t depend on Western Union’s admitted criminal activities.
Former managing director and member of the board of directors of Wall Street investment firm Dillon, Read & Co., as well as former Assistant Secretary of Housing and Federal Housing Commissioner in the Dept. of H.U.D. during the Bush 41 administration, Catherine Austin Fitts infamously blew the whistle on bankers, claiming they buy out all the real estate assets with money they stole from their clients. She once even revealed that she discovered one block in San Diego that had lost 20 million dollars in HUD loans made on properties that never existed and did not even have postal street addresses.
Fitts also created the Community Wizard program to help voters see just how much federal money was being spent in each zip code to make way for better control of government spending. Her action was met with a lawsuit. She was investigated 18 times and eventually run out of Washington, DC.
Fitts is also know for her series called Narco Dollars for Beginners, which involves about 17.3 billion dollars (at a rate of 4 billion dollars a week for 4.3 weeks) being stolen from unaudited government spending, of which Fitts blamed it on the narcotics trade.
“One day I was a wealthy entrepreneur with a beautiful home, a successful business and money in the bank. I had been a partner and member of the board of directors of the Wall Street firm of Dillon Read, and an Assistant Secretary of Housing during the Bush Administration. I had been invited to serve as a governor of the Federal Reserve Board and, instead, started my own company in Washington, The Hamilton Securities Group. Thanks to our leadership in digital technology, financial software and analytics, Hamilton was doing well and poised for significant financial growth.
The next day I was hunted, living through 18 audits and investigations and a smear campaign directed not just at me but also members of my family, colleagues and friends who helped me. I believe that the smear campaign originated at the highest levels. For more than two years I lived through serious physical harassment and surveillance. This included burglary, stalking, having houseguests followed and dead animals left on the doormat. The hardest part was the necessity of keeping quiet lest it cost me more support or harm my credibility. Most people simply do not believe that such things are possible in America. They are.”
But despite her setbacks, Fitts focused on moving forward, and is now an active voice in economics and the U.S. & world political systems.
After a tumultuous and confusing 2016 U.S. presidential election, a huge topic we can no longer ignore has arisen: how will we escape what we know to gain what we need? The systems are corrupt, the people in power are corrupt, and the public is left brainwashed while a country, and ultimately, the world, suffers as a result.
In an interview, Fitts brought up so many intriguing points, pondering the question of how the government expects people to pay their taxes if the government is no longer viewed as legitimate. The world economy is set up for failure because of a banking system that relies on taking users’ money in order to pay usury each time a transaction occurs. This can ultimately result in citizens being brainwashed into believing they need a global currency that’s managed by the global elite.
For quite some time now, there have been clear warnings that have slipped through the cracks of mainstream media regarding the demise of the dollar. Now, Fitts says that warning is coming to a head, claiming that the economic collapse may be right around the corner.
“The system has the capacity with monetary policy in one sense to keep going forever if the force and military capacity is there to do it, but at some point, you burn through the fat, you burn through the muscle and then you have to change institutions.”
The financial crisis of 2008, in which the government hindered a collapse of systems by working with chiefs of the financial sector by giving them incomprehensible bailouts, then inflating the dollar through quantitative easing, has now, eight years later, reached its limit.
“It’s going to be extremely difficult to get people to continue to pay their taxes when they’re highly confident the money’s not being spent legally and it’s going to the advantage of small parties or things that they don’t understand. And so you can’t move further without institutional overhaul,” said Fitts.
Fitts harps on the danger of groups within the U.S., like ALEC, who are already urging for law changes and constitutional convention that would throw out these institutions.
“If you want to enforce the Constitution or fix things, that’s what you do. The reason you get a Constitutional Convention is you want to tear it up because you’re worried, now that people realize the extent of the corruption, that they’re going to try and enforce.”
We are living in a time where corruption reigns supreme, and the only good side of that is that the smell is so strong, we can no longer ignore it. We are being forced to wake up to the corruption of our government and financial rulers, as well as the elites who are working tirelessly to demolish the middle class. But the more the reality is discussed, the more likely we will get closer to watching the people who put so many down finally be faced with the karma of their crimes.
I don’t understand why people glorify the psychopaths who run most Big Pharma companies. Look at what they do when they think no one is watching. Now watch these failures of humanity get community service for their ill gotten filthy lucre.
Twenty state attorneys general filed a lawsuit on Thursday against several pharmaceutical companies, accusing them of entering into “numerous illegal conspiracies” to fix generic drug prices at consumers’ expense.
‘We have evidence of widespread participation in illegal conspiracies across the generic drug industry,’ says Connecticut attorney general
“Prices for dozens of generic drugs have uncharacteristically risen—some have skyrocketed—for no apparent reason,” the federal lawsuit alleges. (Photo: Jamie/flickr/cc)
Twenty state attorneys general filed a lawsuit on Thursday against several pharmaceutical companies, accusing them of entering into “numerous illegal conspiracies” to fix generic drug prices at consumers’ expense.
The federal lawsuit (pdf) names generic drug-makers Heritage Pharmaceuticals, Inc., Aurobindo Pharma USA, Inc., Citron Pharma, LLC, Mayne Pharma (USA), Inc., Mylan Pharmaceuticals, Inc., and Teva Pharmaceuticals USA, Inc., and concerns two drugs: doxycycline hyclate delayed release, an antibiotic used to treat a range of conditions including respiratory tract infections, and glyburide, an oral diabetes medication.
It was filed in the U.S. District Court for the District of Connecticut and labels Heritage as the “principal architect and ringleader” that helped organize a “wide-ranging series of conspiracies” to fix prices.
“The misconduct was conceived and carried out by senior drug company executives and their subordinate marketing and sales executives.” George Jepsen, Connecticut Attorney General
“My office has dedicated significant resources to this investigation for more than two years and has developed compelling evidence of collusion and anticompetitive conduct across many companies that manufacture and market generic drugs in the United States,” said Connecticut Attorney General George Jepsen, who is leading the coalition.
The other plaintiff states are Delaware, Florida, Hawaii, Idaho, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Nevada, New York, North Dakota, Ohio, Pennsylvania, Virginia, and Washington.
“While the principal architect of the conspiracies addressed in this lawsuit was Heritage Pharmaceuticals, we have evidence of widespread participation in illegal conspiracies across the generic drug industry,” Jepsen said. “Ultimately, it was consumers—and, indeed, our healthcare system as a whole—who paid for these actions through artificially high prices for generic drugs.”
A release from Jepsen’s office says “the misconduct was conceived and carried out by senior drug company executives and their subordinate marketing and sales executives,” who “coordinated their schemes through direct interaction with their competitors at industry trade shows, customer conferences, and other events, as well as through direct email, phone, and text message communications.”
“While generic competition is supposed to bring prices down, these companies secretly agreed to rig the system to drive prices up at the expense of patients,” Minnesota Attorney General Lori Swanson said in a statement.
She said a salesperson for Heritage in Minnesota played a key role in the scheme by organizing dinners among employees of competing drug companies when they visited the state.
“The dinners and meetings led to the exchange of information about the competitors’ business plans and ultimately led to agreements on setting prices and/or allocating the market so as to avoid competing on price,” a statement from Swanson’s office said.
The news comes just one day after it was revealed that the U.S. Department of Justice has charged two former Heritage executives with conspiring to fix generic prices—”the first fruits of an ongoing and sweeping investigation into generic drug price-fixing by the Department,” according toArs Technica.
As Bloombergreported, guilty pleas and cooperation from the two executives “could lead to charges against executives at other drugmakers.”
Forbespredicts “[t]he antitrust lawsuit and federal investigation will likely bring further political heat to the generic drug sector.”
Indeed, the lawsuit charges: “Over the last several years, however, [the] price dynamic has changed for a large number of generic drugs. Prices for dozens of generic drugs have uncharacteristically risen—some have skyrocketed—for no apparent reason, sparking outrage from public officials, payers, and consumers across the country whose costs have doubled, tripled, or in some cases increased up to 1,000 percent or more.”
The Forbes billionaire list is perhaps the most mainstream source for who the wealthiest individuals in the world are, yet, some prefer to believe in this list as the authority on wealth. How close is this to the truth?
Within the inherent characteristics of the world monetary system, we have myriad forms of stock ownership, banks and hedge funds owning corporations, banks pulling strings for entire monetary systems, obfuscating who actually owns what. The entire system is awash in practices which conceal who the most influential and wealthy individuals, hedge funds, corporations, and powers are.
The more one looks into it, the more wealth in this world appears to be intentionally obfuscated.
This article will examine 4 factors that imply the wealthiest individuals and entities on this planet are in fact unknown to the public, and that the ones we know to be wealthy are more or less wealthy than we are led to believe.
Rothschild family members are some of the most notorious suspects when it comes to the hidden wealthiest people on Earth: in response to the Deutsche Bank situation, they are buying gold, an ominous “warning” for the rest of us.
“The most prominent bank in Germany is at risk of imminent collapse, with potentially profound effects for the EU, the United States and the rest of the world. The prospect of a cataclysmic global banking collapse of this nature has not been seen since the implosion of Lehman Brothers in 2008, and subsequent fallout in the global banking world.
But these events haven’t taken place in a vacuum, as earlier this year savvy international investor Lord Jacob Rothschild, during a semi-annual address to RIT Capital Partners, announced that they are reducing stock market and currency exposure and increasing their gold holdings, warning that the world is now in “uncharted waters” and the consequences are “impossible” to predict.”
“One day after its stock soared from all time lows, following what so far appears to have been a fabricated report sourced by AFP which relied on Twitter as a source that the DOJ would reduce its RMBS settlement amount with Deutsche Bank from $14 billion to below $6 billion (and which neither the DOJ nor Deutsche Bank have confirmed for obvious reasons), moments ago Bloomberg reported that six current and former managers of Deutsche Bank, including Michele Faissola, Michele Foresti and Ivor Dunbar, were charged in Milan for colluding to falsify the accounts of Italy’s third-biggest bank, Monte Paschi (which itself is so insolvent it is currently scrambling to finalize a private sector bailout) and manipulate the market.”
Fabricated reports sprinkled into a situation where the bank is going under, and on top of that they are being charged for fraud in Italy: a plethora of falsehoods illustrating exactly how money works.
2. Wachovia Bank (now owned by Wells Fargo) laundered billions for Mexican drug cartels, nad was fined less than 2% of annual profit.
If a person pays attention to the scandalous activities of powerful entities beneath the surface level, they start to notice inconsistencies that obliterate the entire mainstream perception of that entity or industry, ushering in a bottomless pit of potential criminality, expanding the realm of probable corruption into deeply unknown territory.
In other words, if the scandals we hear about are this intense, how perception shattering is what we still don’t know?
“Wells Fargo is one big elite networking operation that’s not afraid to get its hands covered in blood money.
Just recently, in late July, Wells Fargo surpassed the Industrial and Commercial Bank of China (ICBC) as the world’s largest bank by market capitalization. This followed Wells Fargo reporting a 19% increase in profits over the second quarter as the bank has been busy consolidating the housing market while other big banks have retreated from it. Wells Fargo had amassed a share of almost 40% of the U.S. mortgage market by early 2013.”
“Wachovia was acquired by Wells Fargo during the 2008 crash, just as Wells Fargo became a beneficiary of $25bn in taxpayers’ money.
‘Wachovia’s blatant disregard for our banking laws gave international cocaine cartels a virtual carte blanche to finance their operations,’ said Jeffrey Sloman, the federal prosecutor. Yet the total fine was less than 2% of the bank’s $12.3bn profit for 2009. On 24 March 2010, Wells Fargo stock traded at $30.86 – up 1% on the week of the court settlement.
The conclusion to the case was only the tip of an iceberg, demonstrating the role of the “legal” banking sector in swilling hundreds of billions of dollars – the blood money from the murderous drug trade in Mexico and other places in the world – around their global operations, now bailed out by the taxpayer.”
3. Money from Afghanistan’s US-tied opium trade goes unaccounted for.
How much money is being made in the Afghanistan opium trade (now the source of 90% of the world’s supply of heroin), and how is the US profiting by clearly aiding in the growth of this corrosive industry? Who exactly is becoming rich?
This recent video sheds light on the continuous US occupation of Afghanistan.
One day perhaps an earth shattering revelation will come regarding exactly who is profiting from this. Until then, we can at least mark this down as another factor obfuscating who the world’s wealthiest individuals are.
4. We don’t know who owns the Federal Reserve.
We simply don’t know who owns the Federal Reserve bank. Its shareholders are private banks, we know that. We get glimpses of the strings that pull the Fed, when they generously provide private banks such as Chase with resources they would never provide to the common people.
“The Federal Reserve (or Fed) has assumed sweeping new powers in the last year. In an unprecedented move in March 2008, the New York Fed advanced the funds for JPMorgan Chase Bank to buy investment bank Bear Stearns for pennies on the dollar. The deal was particularly controversial because Jamie Dimon, CEO of JPMorgan, sits on the board of the New York Fed and participated in the secret weekend negotiations.
In September 2008, the Federal Reserve did something even more unprecedented, when it bought the world’s largest insurance company. The Fed announced on September 16 that it was giving an $85 billion loan to American International Group (AIG) for a nearly 80% stake in the mega-insurer. The Associated Press called it a “government takeover,” but this was no ordinary nationalization. Unlike the U.S. Treasury, which took over Fannie Mae and Freddie Mac the week before, the Fed is not a government-owned agency. Also unprecedented was the way the deal was funded.”
For more info about the purposeful obfuscation of wealth implied by the actions of the Federal Reserve, this is a great documentary.
“Is the world economy a closed system or an open system? In other words, are the world’s financial elite conducting transactions with off-planet entities, enslaving the human race to unseen actors?
The world’s people are held in perpetual bondage to the fiat currency money masters who have saddled us with absolutely insurmountable debt obligations which are mathematically impossible to repay. At present, the CIA estimates the total global debt to be nearing $90 trillion.
The gross world product, the nominal value of planetary human endeavor per year, was recently estimated at $78 trillion, meaning nearly an entire year of the productivity of every man, woman and child on planet earth, some 7.4 billion people, is owed to someone, but who exactly no one really knows for sure. How is this possible?”
We may never definitively know who the world’s wealthiest individuals or entities are, but we can know what golden revelations fall through the cracks in a wall of purposeful obfuscation, if we simply pay attention and make reading a routine.