| JP Morgan Chase and collective government ownership of the same |
FR2006CAFR.pdfFR2007CAFR.pdfFR2008AR.pdfFormer Commodity Trading Advisor , federally licensed for fourteen years as a CTA.
Walter Burien - CAFR1
P. O. Box 2112
Saint Johns, AZ 85936
Tel. (928) 445-3532
__________________________________
Thanks, Walter.
In your capacity as America's #1 Financial Watch Dog Guru, are you aware of any GAO audits on the FEDERAL RESERVE ?Check out:Cordially,xxxxOn Fri, Nov 19, 2010 at 11:59 AM, Walter Burien WalterBurien@cafr1.com> wrote:
CAFR1 NATIONAL POST
Clint Richardson does a good take on JP Morgan Chase and collective government ownership of the same.
JPMC is not the exception but in fact the rule when it comes down to collective government ownership. It is one of the biggest examples but by no means the exception.
The end reality of all activity? Corporate governance by government that maintains a hefty profit for the governing human collective of controlling parties .. The general public? Most of them are still trying to figure out where the remote is... but things are a changing....
Sent FYI from,
Walter Burien - CAFR1
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Any local government can be restructured to meet their annual budget needs "Without" taxes. TRF (Tax Retirement Funds) paying for every City, County, State's annual budgetary needs!
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Article by: Clint Richardson - Sandy,Utah
REALITY BLOG"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." Arthur Schopenhauer (1788 – 1860)
What is JP Morgan Chase?
JP Morgan Chase is simply one of the government's main holding company.JP Morgan Chase, as of March 31, 2008, was holding 89.99 trillion ($89,997,271,000,000) in derivatives. These were mostly government futures (bets on future prices). 89.99 trillion!!!! SOURCE: Table 1 on page 22 - 1st Quarter 2008 OCC report
JP Morgan Chase was only holding 1.4 trillion ($1,407,568,000,000) in actual assets at the time!
OCC'S Quarterly Report: DEC2009OCC'S Quarterly Report: JUNE2010Table 1: NOTIONAL AMOUNT OF DERIVATIVE CONTRACTS
TOP 25 COMMERCIAL BANKS AND TRUST COMPANIES IN DERIVATIVES
MARCH 31, 2008RANK BANK NAME TOTAL DERIVATIVES
1. JP MORGAN CHASE BANK NA $89,997,271,000,000
2. BANK OF AMERICA NA $37,939,665,000,000
3. CITIBANK NATIONAL ASSN $37,691,434,000,000
4. WACHOVIA BANK NATIONAL ASSN $4,884,775,000,000
5. HSBC BANK USA NATIONAL ASSN $4,279,737,000,000
6. WELLS FARGO BANK NA $1,440,229,000,000
7. BANK OF NEW YORK $1,058,618,000,000
8. STATE STREET BANK&TRUST CO $904,593,000,000
9. PNC BANK NATIONAL ASSN $248,705,000,000
10. SUNTRUST BANK $241,369,000,000
*Note: 2010 2nd quarter derivatives holdings for JP Morgan Chase were listed at $75,253,921,000,000, with only $1,568,093,000,000 in assets.*Note: B of A and Citibank Derivatives went up to 48.5 trillion and 45.9 Trillion respectively.
*Note: Goldman Sachs is also now listed for 2nd quarter 2010 as holding 42 trillion in derivatives contracts, with only 95.5 billion in assets, seemingly from out of nowhere, as they are not listed on this 2008 report!
See all Office of the Comptroller of the Currency (OCC) reports here: (http://www.occ.gov/topics/capital-markets/financial-markets/trading/derivatives/derivatives-quarterly-report.html)
Over-the-counter derivatives traded privately between investors are largely unregulated. The global over-the-counter derivatives market is estimated as of 2003 to have a value of $142 trillion and as of 2010 580 trillion… The Fed continues to be concerned that the relatively small number of institutions that act as dealers in derivatives markets may pose risks. In particular, the Fed worries what would happen "if a big derivatives dealer had to exit the market." – Alan Greenspan - 2003
JP Morgan is majority owned through stock investment by collective government. Collective government is simply defined as the over 185,000 individual state, county, city and other municipalities, school districts, pension and other funds, and other governments throughout the United States. Therefore, any actions by which JP Morgan partakes in and any decision this bank makes is voted on by collective government through proxy votes (stock-ownership "institutional" voting). This is called corporate governance.
In fact, it is corporate fascism.
All national banks are chartered. In other words, they are under government law. They get away with murder because the government allows them to. After all, banks are the governments' most dangerous weapons!
Banks are not above the law… government is.
And hilariously to our government keepers I'm sure, we continue blindly trying to fight this corrupt system of government from within the constraints of its own imposed laws, while government continues to operate well outside of the very laws it sets, regulates, and enforces upon us.
We are mice caught in a maze with no exit. For the game is rigged by the gatekeeper.
Here is just a short and quite incomplete list of individual stock ownership by "collective government" in the corporation JP Morgan Chase. Note that this is only a handful of pension funds, which are component units of their prospective "state, county, or city governments" and which took me many, many hours of research to find. These are simply listed as part of the top 10 equity investments held on each governments' most recent comprehensive annual financial report (CAFR). You can pull each one up yourself, as they are government documents required by federal law. Also note that this does not take into consideration each governments' other investment fund totals, for which all governments invest in as a whole (mutual funds, foreign currency funds, real estate funds, Fortune 500 and S&P Funds, domestic and international corporate bonds, some preferred stock holdings, private corporate or equity investment funds, etc…) which also hold these stocks in JP Morgan Chase. Also, some reports don't list the number of shares, just their value or percentage of total equities held in the fund – though it would be easy to fill in the blanks…
JP MORGAN CHASE STOCK HOLDERS: SHARES OWNED: $VALUE OF SHARES:
Alaska Public Employees Retirement System
61,477,033 Arizona Public Safety Personnel Retirement System 580,815 19,811,610 California Public Employees Retirement System (CalPERS) 11,096,822 378,513,000 California State Teachers Retirement System (CalSTRS) 15,178,407 517,735,463 -Fresno City Employees Retirement System 58,828 2,006,621 -Los Angeles City Employees' Retirement System 1,292,519 44,087,823 -Los Angeles County Employees Retirement Association 532,580 18,166,000 -Merced County (CA) Employees' Retirement Association 64,744 2,208,418 -Sacramento County Employees' Retirement System 384,785 13,125,000 Colorado Public Employees' Retirement Association 4,570,621 190,458,000 Connecticut Combined Investment Funds (CIF)
60,967,771 Florida Retirement System – Defined Benefit Pension Plan 503,973,296 Florida Retirement System – Investment Plan
2,115,031 Georgia Teachers Retirement System 5,938,695 202,568,886 Illinois Municipal Retirement Fund (2008)
56,754,914 Illinois Teachers Retirement System
65,932,720 Indiana Public Employees' Retirement Fund 866,723 29,564,000 Kentucky Retirement Systems – Insurance Fund 206,975 7,095,917 Kentucky Teachers Retirement System
81,600,125 Louisiana State Employees Retiremment System 545,450 18,605,300 Louisiana Teachers Retirement System 907,616 30,958,782 Maryland State Retirement and Pension System 2,750,631 93,824,023 Massachusetts Pension Reserves Investment Trust Fund 57,574,000 Minnesota Public Employees Retirement Association
87,100,000 Minnesota Teachers Retirement Association
84,800,000 Mississippi Public Employees Retirement System 2,636,943 89,946,126 Missouri Public School Employee Retirement System
55,069,162 New Hampshire Retirement System 380,300 12,972,000 New Jersey Division of Pensions and Benefits 6,528,154 222,700,000 New Mexico Educational Retirement Board (Pension) 626,331 7,445,824 New Mexico Public Employees Retirement Association 917,351 31,290,843 New York State and Local Retirement System 15,401,817 689,231,311 New York State Teachers Retirement System
430,617,943 -New York City Board of Education Retirement System 9,358,727 -New York City Employees Retirement System 4,963,319 169,298,811 -New York City Fire Pension Fund 871,607 29,730,515 -New York City Police Pension Fund 1,222,183 47,384,034 Ohio Highway Patrol Retirement System 20,100 633,753 Ohio Public Employees Retirement System (2008) 7,973,895 251,416,909 Ohio State Teachers Retirement System 8,033,964 274,038,512 Pennsylvania Public School Employees Retirement System 834,000 28,454,000 Tennessee State Pension Trust Funds 3,212,775 109,587,755 Texas County and District Retirement System
38,100,000 Texas Employees Retirement System 2,875,400 124,964,884 Texas Teachers Retirement System
298,274,715 Utah Retirement Systems 1,286,050 53,589,704 Utah Retirement Systems 334,405 13,934,656 Virginia Retirement System 3,467,525 118,277,279 -Richmond (Virginia) Retirement System 24,800 907,928
*Note: Total of outstanding shares of JP Morgan Chase: 3,950,000,000
*Note: Total of shares needed to have controlling interest (50.01%): 1,975,000,001
*Note: Total of shares owned by "all" government investment funds: ?,???,???,???
The moral of this story is that government is the one raping our economy and manipulating markets in favor of its investment held corporations – especially its banks – and through its bank friendly legislation.Once again, blaming the banks is like blaming the president of the United States. We all know he is a tool being used by the real power in and out of government. And when considering that his whole staff is appointed – not elected – and that most of them are former lobbyists and former corporate attorneys, it doesn't take a lot of imagination to grasp the larger picture of how things work – banks are government owned and regulated, just as all Fortune 500 and other significant domestic and international corporations from pharmaceutical companies to weapons manufacturers to grocery store chains.
If we want to fix the problem of corruption in government, we must attack it at the root of the problem. In order to do that, we must comprehend how the government machine works. First we must read and comprehend and share with others the Comprehensive Annual Financial Reports of our local and state governments. And eventually, we must dissolve the corporation that is acting unconstitutionally in lieu of our government, take back all of this investment wealth for the good of the people, and re-institute strict regulations and anti-usury laws for our usurious banking industry.
The corporate government owns the corporations.
The government then regulates the market in which its investment held corporations operate and do business.
And the government will not punish its own institutions and threaten its corporate profits, just because we hope it will or because we ask it to. Not even if we demand it!
Wake up America!
Your government is a private, for-profit corporation. It is your enemy – and it is stealing your wealth, prosperity, land, and happiness from under your noses through its investment held corporations.
Learn more by visiting these sights:
Watch "The Corporation Nation" at: TheCorporationNation.com
Visit Walter Burien at: CAFR1.com
.
Clint Richardson (realitybloger.wordpress.com)
Tuesday, November 16, 2010___________________________________________________________The Corporation Nation
This will be where I post my new passion, documentary movies!
The first movie is posted, and it will change your whole way of thinking. Download or watch by clicking the link.
"Waking Up to the Corporation Nation" is an in depth look at the Comprehensive Annual Financial Report (CAFR) that all governments (corporations) must file under federal law. This is an audit of our government.
Downloadable version up now! A DVD package will also be available very soon.
All of this is free! I can only hope that enough people view and pass this movie out for free before it is too late to do anything about it. There is no subject more important and relevant to our plight than this.
-Clint-
