Max Keiser and Stacy Herbert discuss the fact that banks are lobbying to force credit unions to become banks in order to destroy the [Move Your Money] competitive threat.

They also discuss front running the NSA and the digital AIDS they’ve spread.

Zionist Rothschild Criminals Obama Feinstein Support Assault Rifles For CIA’s Al-Qaeda: While Americans 110:1 Die From Contaminated Food
Muslim Brotherhood Appointed As $12 Million Sr. Secretary For U.S. Gestapo Homeland Security Scheme.

In the second half, Max talks to former government official, Catherine Austin Fitts of Solari.com about extricating yourself from the tapeworm economy.

Get Your Money Out Of Corporate Banks And Into Your Hometown Credit Unions.

WASHINGTON — Credit unions have been snatching customers from banks amid consumer frustration over rising fees and outrage over Wall Street’s role in the financial crisis.

Rothschild Has Invested $200 Million Against The Euro ~ But Needs Your Money To Invest Into and for Corporate Banks Next Round Of Failures, so he may reap the benefits of the [shorting whirlwind] on its way down! Same Game Being Played Here In The U.S. Keep your eyes open America! Get Into Your Hometown Credit Unions and prevent his British Monarchy tax movement.
Dodd Frank & Basel III Enacted Treason Of U.S. Wealth To Rothschild’s [BOE] Bank Of England.
Obamacare Forces 74% Of U.S. Small Businesses To Fire Workers & Cut Hours: Lenin Gets A Bath!

This video was made 11 months ago August 2012 ~ it is NOW July 2013 and NOW in [The U.S. Of A.] The Corporate Banks want a way in earnest to force you to remain in their banking matrix scheme.

Basel III was done [PENDING LAWSUIT AGAINST BASEL III] to keep America in their Cabal Matrix ~ but they need the Credit Unions To Submit SO THEY WANT TO TAX HER INTO SUBSERVIENCE.

Ready? Basel III 2013 – 2019: The Dump Phase Of The Cartel’s Pyramid Scheme Begins!

Now banks are fighting back by trying to take away something vital to credit unions — their federal tax exemption.

Will It Happen?

YOU

MUST

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PART

OF

THE

ANSWER.

Boston Harbor 1773 ~ America Rebelling Against British Bankers High Taxation! — Boston Harbor 1773 ~ America Rebelling Against Rothschild British Bankers High Taxation!

With fast-growing credit unions posing more formidable competition to banks, industry trade groups are pressing the White House and Congress to end a tax break that dates to the Great Depression.

BELOW IS THE CORPORATE BANKER’S BULLSHIT WHIRLWIND!

If they get their way, there is no place for you to go ~ it will all be tied into the [BOE] aka; thats Rothschild’s Bank Of England via Basel III.

With Corrupt Congress pushing for the I.D. national card database {via the innocuous immigration bill] you will be more of a number in existence [serf] than a living breathing sovereign human being [freedom].

“Many tax-exempt credit unions have morphed from serving ‘people of small means’ to become full-service, financially sophisticated institutions,” Frank Keating, president of the American Bankers Assn., wrote to President Obama last month.

“The time has come to abolish this exemption,” Keating said in the letter, which was part of a blitz that included print and radio ads in the nation’s capital.

Bankers long have complained the tax break is an unfair advantage for large credit unions.

1999 ~ DEADBEAT CLINTON REPEALING FDR'S GLASS STEAGALL ACT THUS ALLOWING ROTHSCHILD BANKING CABAL TO BEAT AGAINST THE UNITED STATES AND THUS ALLOWED THE ORCHESTRATED HOUSING BUBBLE TO THUS ALLOWED BARACK THE PRETENSE TO PRINT MONEY ACCORDING TO MAFIA KEYNESIAN ECONOMICS THUS PUTTING THE U.S. IN A DEBT TAIL SPIN. — 1999 ~ DEADBEAT CLINTON REPEALING FDR’S GLASS STEAGALL ACT THUS ALLOWING ROTHSCHILD BANKING CABAL TO BET AGAINST THE UNITED STATES AND THUS ALLOWED THE ORCHESTRATED HOUSING BUBBLE TO THUS ALLOWED BARACK THE PRETENSE TO PRINT MONEY ACCORDING TO ROTHSCHILD’S MAFIA KEYNESIAN ECONOMICS ~ THUS PUTTING THE U.S. IN A DEBT TAIL SPIN.

Awe ~ they whined and repealed the Glass Steagall Act Already and looked what happened to The United States Citizen’s Finances via [Housing Bubble] and the other numerous bubble schemes to bilk America.

Now they see an opportunity to get rid of it as lawmakers begin work on a major overhaul of the tax code that is aimed at eliminating many corporate [?????] exemptions and lowering the overall tax rate.

The exemption cost $1.6 billion this year in taxes avoided and would rise to $2.2 billion annually in 2018, according to Obama’s proposed 2014 budget.

In a 2010 report on tax reform, the President’s [?????] Economic Recovery Advisory Board said eliminating the exemption would raise $19 billion over 10 years and remove the credit unions’ “competitive advantage relative to other financial institutions” in the tax code.

BELOW IS THE REALITY!

Credit unions said the effort to take away their tax exemption was simply an attempt to stifle competition and remove one of the only checks on bank fees for consumers.

And it comes as some in Congress are pushing to loosen regulations on credit unions so they can expand their business further, including legislation that would lift a cap on the amount of money they can lend to businesses.

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The tax exemption is crucial to credit unions, which by law can’t raise capital through public stock offerings the way that banks can, said Fred R. Becker Jr., president of the National Assn. of Federal Credit Unions, a trade group with about 3,800 federally chartered members.

Rothschild’s European Union’s Thievery Hitting United States!

Chairman Of Rothschild Federal Reserve Board Confesses To $2 Trillion Swindle Against The American People: Iceland Puts The Corrupt In Jail.

“They’ll have to convert to banks, which is what the banks want,” he said. “Then they’d have, for lack of a better term, a monopoly.”

A 2012 economic study commissioned by the trade group found that removing the tax exemption would cost consumers about $10 billion a year through higher fees and interest rates on loans, as well as lower interest rates on savings.

That loss of income would end up costing the federal government $1.5 billion a year in lost tax revenue, the study said.

Under a 1934 law, Congress exempted credit unions from federal income taxes as long as they were nonprofit businesses, organized without capital stock and operated for the benefit of their members.

For decades, most credit unions were small operations, usually serving employees of individual businesses and government agencies.

The industry has grown significantly since the 2008 financial crisis, boosted by outrage over Bank of America‘s 2011 plan to impose a $5 monthly fee for debit card use.

Bank of America ditched the plan after protests from customers, lawmakers and the White House. But the controversy led consumer groups to launch an effort to get customers of big banks to switch to smaller institutions, such as credit unions. And the effort helped.

By the end of March, credit union membership surged to 95.7 million, an increase of 2.7 million from the start of 2012, according to SNL Financial. The growth in those five quarters was more than in the previous 11 quarters combined, the trade publication said.

Navy Federal Credit Union, the nation’s largest, increased its membership 10.2% to 4.3 million in the year ended March 31. according to SNL. Such large credit unions, which have ramped up their advertising to lure new members, worry bankers.

THE CORPORATE BANKER’S BULLSHIT CONTINUES!

The Con game Of The Banking Matrix. — The Con Game Of The Banking Matrix.

“The banking industry has no problem with competition. We have problems with competition when it’s on an un-level playing field,” said James Ballentine, the American Bankers Assn.’s executive vice president of congressional relations.

“Credit unions have grown into … tax-exempt banks,” he said.

The bankers’ group said 200 credit unions hold more than $1 billion in assets each.

Iceland Jails Bankers, Erases Citizens’ Debt, Recovers Strongly: No More Banks!

“We have no interest in going after smaller credit unions because they’ve stuck to their mission,” Ballentine said. “For those who have gotten outside their mission, who have grown beyond recognition, they would be in the cross hairs.”

REALITY CONTINUES!

But credit unions simply have been adapting to changing times, Becker of the National Assn. of Federal Credit Unions said. Those serving factories that closed had to find new members to survive. And others, such as Navy Federal, have offered debit cards and other new services in response to their members’ needs, he said.

“The banks would like the credit unions not to offer any services so their customers would come to them,” Becker said.

Credit unions and their supporters in Congress, such as Rep. Ed Royce (R-Fullerton), are pushing to loosen restrictions on the industry so it can better compete with banks.

Among the proposals is one to lift the current cap on business lending to 27.5% of total assets from 12.25%.

The move would make it easier for small businesses to get loans, Royce said.

The battle over the credit union tax exemption takes away from the broader concern about making it easier for consumers and small businesses to get loans, he said.

“There is a lot that should and could be agreed upon if there was a mutual respect for the unique business models,” Royce said.