JPMorgan profits from the food stamp scam while Americans are fed disease-promoting junk food
by: Jonathan Benson
When the food stamp program was first created, the idea was to help struggling Americans stay afloat while they sought employment or other means of subsistence. But today, the program is essentially run by the banking cartel, which profits heavily from enrollees who more often than not purchase disease-promoting junk food that eventually lands them into welfare health programs, which in turn support the pharmaceutical cartels.
Not too long ago, the Supplemental Nutrition Assistance Program (SNAP) actually handed out paper stamps to enrollees, who used them in place of money at the grocery store. Today, the system has gone paperless, with JPMorgan-issued debit cards representing the new standard as it is both discreet and easier to manage.
But the same banking corporation that in 2008 was bailed out of collapse by U.S. taxpayers to the tune of $12 billion doesn't provide these cards for free. According to the Roosevelt Institute, JPMorgan's net revenue from producing food stamp debit cards was nearly $5.5 billion just in 2010, and the institution continues to increase its food stamp bottom line as increasingly more Americans enroll in the program.
According to the latest available data, nearly 50 million Americans today are living in poverty, and the vast majority of these people are on food stamps. This is bad news for the state of American society but good news for JPMorgan, which reports record profits from producing food stamp debit cards. The head of the food stamp debit card division of JPMorgan, Christopher Paton, had this to say to Bloomberg about the company's cozy little setup with the U.S. government:
"Volumes have gone through the roof in the last couple of years. This business is a very important business to JPMorgan in terms of its size and scale."
In other words, as Americans grow increasingly poorer, many of them having inadvertently pulled JPMorgan out of financial collapse with their "voluntary" tax dollars, a company that bilked Americans out of tens of billions with its corrupt banking practices is now raking in a massive windfall from the nation's welfare system.
Banking elite wildly profiting from widespread poverty that they caused
It is an utterly sick scam that if more Americans understood what was actually going on, they would organize with one another to drive out these treasonous, usurious banking criminals and take their country back. Unfortunately, this doesn't appear to be happening, at least not within the current illusory paradigm, and most likely not until things become so difficult socially and economically that people finally stand up to expose the emperor as having no clothes.
What's worse is the many millions of food stamp recipients that are using their JPMorgan debit cards to purchase disease-promoting junk foods on the taxpayers' dime. Many of these folks fail to realize that they are being herded into a corrupt healthcare system by toxic food products that will leave them chronically ill and obese.
In many of the neighborhoods where food stamp recipients shop, there is a dearth of available health food stores, or even full-service grocery stores for that matter. As a result, many food stamp recipients use their cards at convenience and liquor stores, which almost never stock nutritious foods that will actually help the poor stay nourished.
"Due to the additional risk factors associated with poverty, food insecure and low-income people are especially vulnerable to obesity," explains the Food Research and Action Center (FRAC). "More specifically, obesity among food insecure people -- as well as among low-income people -- occurs in part because they are subject to the same influences as other Americans... but also because they face unique challenges in adopting healthful behaviors."
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