This is a reference to Wal-Mart s use of so-called dead peasant life insurance policies. Companies l

“From its first beginnings in Edward Lloyd s Coffee House in 1688, Lloyds has been a pioneer in insurance and reinsurance. Starting with its roots in marine insurance, Lloyds has grown over 300 years to become the worlds leading market for specialist insurance.”
“From 17th century shipping and Lord Nelson’s victory at the Battle of Trafalgar, through the devastation of the San Francisco earthquake in 1906, and on to the emergence of space satellite technology in the late 20th century, the story of Lloyds is both a long and an interesting one.”
The Internet propaganda is careful not to distinguish the ‘city” from metropolitan London at large: “Lloyd s earliest historic charleston hotels home was Edward Lloyd s coffee house, firmly established by the year 1688 at Tower Street in the City of London.
The market began in Edward Lloyd s coffee house around 1688. His establishment was a popular place for sailors, merchants, and ship owners, and Lloyd catered to them with reliable shipping news. The shipping industry community frequented the place to discuss insurance deals among themselves. Just after Christmas 1691, the coffee shop relocated to Lombard Street (a blue plaque commemorates this location) This arrangement carried on until 1774, long after Lloyd s death in 1713, when the participating members of the insurance arrangement formed a committee and moved to the Royal Exchange on Cornhill as The Society of Lloyd s.
Due to the focus on marine business, during the formative historic charleston hotels years of Lloyd s (between 1688 and 1807), one of the primary sources of Lloyd s business was the insurance of ships engaged in slave trading; as Britain (read ”crown”) rapidly established historic charleston hotels itself as the chief slave trading power in the Atlantic.
(Crown) shipping carried more than 3.25 million people into slavery, meaning that by the end of the eighteenth century, slave trading had become one of the primary constituents of all (crown) trade. The dangers involved necessarily meant that insurance of slave-trade shipping was a major concern. historic charleston hotels Between 1689 and 1807, 1053 British vessels were lost whilst historic charleston hotels undertaking slave-trading activities.
“The Royal Exchange was destroyed by fire in 1838, and, although the building was rebuilt by 1844, many of Lloyd s early records were lost.(convenient) In 1871, the first Lloyd s Act was passed in Parliament (by puppets), which gave the business a sound legal footing (as if it were necessary) The Lloyd s Act of 1911 set out the Society s objectives, which include the promotion of its members interests and the collection and dissemination of information .
The membership of the Society, which had been largely made up of (money launderers) market participants, was realized to be too small in relation to the market historic charleston hotels s capitalization and the risks that it was underwriting.
(Crown insiders always seek to cover risk with money from the sheepish taxpaying population). “Lloyd s response was to commission a secret internal inquiry , known as the Cromer Report, which reported in 1968 . This report advocated the widening of membership to non-market participants, including non-British subjects and women, and to reduce the onerous capitalization requirements (which created a more minor investor known as a mini-Name). The Report also drew attention to the danger of conflicts of interest. (false flag in the report).
“During the 1970s, a number historic charleston hotels of issues arose which were to have significant influence on the course of the Society. The first was the tax structure in the UK: capital gains were taxed at 40 per cent, earned income was taxed in the top bracket at 83 per cent, and investment income in the top bracket at 98 per cent.
Lloyd s income counted as earned income, even for Names who did not work at Lloyd s, and this heavily influenced historic charleston hotels the direction of underwriting: in short, it was desirable for syndicates to make a (small) underwriting loss but a (larger) investment profit.
The losses were 98% funded by the taxpayer (the sheep dues) while the gains largely accrued to the Names; when Margaret Thatcher s (puppet) government greatly reduced the top rate of income tax , (This clever tax code ploy worked beautifully—remember historic charleston hotels Ronnie Reagan?) the proportion of the losses paid by the Names increased astronomically. The investment profit was typically achieved by bond washing or gilt stripping': buying the bond cum dividend and selling it ex dividend, creating an income profit and a capital loss. (clever gambit historic charleston hotels continued by today s investment bankers).
“Because Lloyd s had turned itself into a tax shelter (for super rich), the second issue affecting historic charleston hotels Lloyd s was an increase in its external membership, such that, by the end of the decade, the number of passive investors dwarfed market investors. (a “city”gambit) Thirdly, during the decade a number of scandals had come to light, including the collapse historic charleston hotels of the Sasse syndicate and the disgrace of Christopher Moran, which had highlighted both the lack of regulation and the legal inability of the Council to manage the Society. (surprise, surprise).
“Arising simultaneously with these developments were wider issues: firstly, in the United States, an ever-widening interpretation by the Courts of insurance (admiralty)? Coverage in relation to workers compensation relating to asbestos-related losses, which had the effect of creating a huge, and initially unrecognized and then unacknowledged hole in Lloyd s reserves.
Secondly, by the end of the decade, almost historic charleston hotels all of the market historic charleston hotels agreements, such as the Joint Hull Agreement, which were effectively cartels mandating minimum terms, (a touch of truth)? Had been abandoned historic charleston hotels under pressure of competition. historic charleston hotels Thirdly, new specialized policies historic charleston hotels had arisen which had the effect of concentrating historic charleston hotels risk: these included run-off policies historic charleston hotels , under which the liability of previous underwriting historic charleston hotels years would be transferred, and time and distance policies, whereby reserves would be used to buy a guarantee of future income.
“In 1980, Sir Henry Fisher was commissioned by the Council of Lloyd s to produce the foundation for a new Lloyd s Act. The recommendations of his Report addressed the democratic deficit and the lack of regulatory muscle. (oh ho-ho, historic charleston hotels another phony commission).
“The Lloyd s Act of 1982 further redefined the structure of the business, and was designed to give the external Names , introduced in response to the Cromer Report, a say in the running of the business through a new governing Council. “(more double talk; we know how the “crown” operates).
About Author Latest Posts Tom Valentine Tom Valentine (born August 20, 1935, same day as Ron Paul) is a businessman, writer, commentator and radio host with an anti-establishment perspective.He worked with Radio Free America from 1988 to 2004.He tends to align with issues from left and right ends of the political spectrum, as well as libertarianism. His main journalistic interests have been unorthodox health care methods and conspiracy theories. He is a believer in many alternatives ascancer cures,and believes that soy products are unhealthy for human consumption. All of his views are at odds with the mainstream medical historic charleston hotels community. Latest posts by Tom Valentine ( see all ) Race, A Topic for Discussion historic charleston hotels - May 28, 2012 Bad NDAA Law Lost a Tooth - May 26, 2012 American Jews Debate is Edifying They Just Don t Get It - May 24, 2012 Powered by Starbox Related Posts: A Tribute to Captain Eric May (Part 2) NEO Engdahl Foreign Bankers Rape Ukraine IMMIGRATION: Deport the Real Illegal Aliens ELECTION 2016: Should Israeli Run for U.S. President? Quiz: Are You Under the Influence of Mind Programming?
Thank you, Ade. I ve already pointed out how Walmart became the world s biggest company thru govt subsidy, historic charleston hotels not good business. We need not hold our breath waiting for the paying public historic charleston hotels to get a decent day in court. I should have explained the power of reinsurance but it is not possible for a non-member of the BAR to translate historic charleston hotels it into plain language. In Florida, where I live, the Insuranc gang, after milking premiums for the boom years, now have state permission to cancel costly to underwrite forms of home policies. Auto insurance is generally the only area of competition for decent coverage; health insurance, which my family takes great pains to obviate the need via dietary smarts and lifestyle; is a nasty con.
The company is a defendant in five putative class-action lawsuits, three of which are pending in Texas, one in New Hampshire, and one in Oklahoma. In each lawsuit, the plaintiffs seek a declaratory judgement that Wal-Mart and the other defendants who purchased Corporate-Owned Life insurance ( COLI ) policies lacked an insurable interest in the lives of employees who were insured under the policies, and seek to recover the proceeds of the policies under theories of unjust enrichment and constructive trust.
This is a reference to Wal-Mart s use of so-called historic charleston hotels dead peasant life insurance policies. Companies like Wal-Mart and Dow Chemical collect tax free windfalls when the insured employee dies, the insured employee s family gets nothing.
Because a company’s purchase of insurance policies is not a public record, it is virtually historic charleston hotels impossible to know every company that invested in policies on employees’ lives. The following historic charleston hotels companies, however, are believed to have been named as the beneficiary of life insurance policies on employees:
Reader : Netanyahu Got Busted Again Reader : Netanyahu Got Busted Again Gennady Lidiya Sevastyanov : Kiev Big Lie on Ending Donbas Conflict in Two Weeks Simpleton : #Je suis brainwashed Reader : George Bush Pedophile Sex Ring and Blackmail of Congress Snoop Dough : Kiev Big Lie on Ending Donbas Conflict in Two Weeks Howie J : Book Review A Brief History of US-Israel Relations Snoop Dough : Asteroid Warning, Govt Preps Underground Bases
Alan Hart Allen L Roland Anthony Hall Bob Johnson Cabiria Brooks Carol Duff Chip Tatum Dr Stuart Jeanne .. Dr. Ismail Salami Ed Mattson F. William Engdahl Francisca Helena .. Gilad Atzmon Gordon Duff Hardy St