|J.P. MORGAN’S FOOD STAMP MONOPOLY: THE MORE AMERICANS THAT FALL INTO POVERTY THE MORE MONEY JAMIE DIMON MAKES
Posted On: November 6th, 2012
Source: The Daily Bail
How J.P. Morgan gets rich with increased food stamp usage:
Just start listening.
Max Keiser on J.P. Morgan’s poverty business.
JPM’s Food Stamp Monopoly
JP Morgan is the largest processor of food stamp benefits in the United States. JP Morganhas contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly.
In the video posted above, JP Morgan executive Christopher Paton admits that this is “a very important business to JP Morgan” and that it is doing very well. Considering the fact that the number of Americans on food stamps has exploded from 26 million in 2007 to 43 million today, one can only imagine how much JP Morgan’s profits in this area have soared. But doesn’t this give JP Morgan an incentive to keep the number of Americans enrolled in the food stamp program as high as possible?
There are just some things that are a little too “creepy” to be “outsourced” to private corporations. The JP Morgan executive in the interview below does his best to put a positive spin on all this, but it just seems really unsavory for a big Wall Street bank to be making so much money off of the suffering of tens of millions of Americans….
So if unemployment goes down will this ruin JP Morgan’s food stamp business?
Well, apparently not. In the interview Paton says that 40% of food stamp recipients are currently working, and he seems convinced that there could be further “growth” in that segment.
So is this what America is turning into?
A place where tens of millions of the unemployed and the working poor crawl over to Wal-Mart and the dollar store every month to use the food stamp debit cards provided to them by JP Morgan?
It turns out that JP Morgan also provides child support debit cards in 15 U.S. states and they also provide unemployment insurance benefit debit cards in seven states.
Apparently states have found that they can save millions of dollars by “outsourcing” the provision of these benefits to big financial firms like JP Morgan.
So what happens if you have a problem with your food stamp debit card?
Well, you call up a JP Morgan service center. When you do this, there is a very good chance that you are going to be helped by a JP Morgan call center employee in India.
That’s right – it turns out that JP Morgan is saving money by “outsourcing” food stamp customer service callsto India.
When ABC Newsasked JP Morgan about this, the company would not tell ABC News which states have customer service calls sent to India and which states have them handled inside the United States….
JP Morgan is the only one today still operating public-assistance call centers overseas. The company refused to say which states had calls routed to India and which ones had calls stay domestically. That decision, the company said, was often left up to the individual states.
Just try to imagine the irony – a formerly middle class American that has lost a job to outsourcing calls up to get help with food stamp benefits only to be answered by a call center employee in India.
Welcome to the global economy, eh?
But wait, there is more.
It has just been announced that JP Morganhas admitted that they wrongly foreclosed on over a dozen military families and that they have been overcharging “thousands” of other military families on their mortgages.
It is a really bad public relations move to mess with military families.
Is anyone over at JP Morgan even paying attention?
JP Morgan has also been one of the primary financial institutions involved in the foreclosure “robo-signing” scandal.
They just seem to be having all kinds of problems lately. But they are not alone.
The truth is that we have gotten to the point where big Wall Street banks such as JP Morgan, Goldman Sachs, Citibank and Morgan Stanley just have way, way too much power.
The biggest Wall Street financial institutions had no trouble begging for bailouts from the U.S. government during the financial crisis, but when the American people have needed a little grace and mercy from them they have been less than helpful.
I read an article several weeks ago re: Wal Mart, and how it avoid paying “benefits” to its workers.
In the U.S. if people’s annual earnings are below a certain benchmark, they become eligible for various Gov’t programs ie Gov’t sponsored Health Care. Thus if Wal- Mart pays minimum wages…their workers benefits come from the Gov’t ie other taxpayers. In essence the workers likely don’t care who provides them , a long as they get THEIR benefits.
However, this dynamic is something people don’t understand re: the ” End Game “.
I have another article to post later, but apparently a major defence contractor in the US is looking at laying off 123,000 workers….yes 123,000……and other defence contractors may do the same.
The End Game has been a declaration of War…a major global economic collapse…some are calling it WW3 under our noses…. WW4 is where it gets even uglier.
If you haven’t figured it out…don’t blame yourself…..you simply need to “decode”…which is much of what I am trying to accomplish . Its not that hard to DEcode , if you simply open your mind and be willing to toss out a lot of Lies Bullshit and Propaganda…..aka ” UNlearn”.
( I will get into this more next week, as I stated I would after Nov.11…). If the middle classic swiped out, what you have is what the Bolshevik Revolution tried to achieve 100 years ago. The Bolshevik Revolution was not really to be limited to Russia, it was simply contained there. It has simply morphed into other strategies and manifestations, but the same End Game. From the global chaos these evil Elitist people have engineered , the masses often cannot or will not connect the dots, but regardless, will beg their enslaving traitorous masters to “save” them , and in the process surrender their liberties. This warning to the citizens has been on record by numerous parties for 100’s of years.
Or, more to the point….The End Game is a One World Gov’t..aka Global Communism.
NOTE: The Max Keiser YOUTUBE video (above) is worth watching.
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