Proctor, also the founder and CEO the Provis Institute of Political Economics, explained that banks make a profit every time a person takes out a loan or signs a credit card. He elaborated: "Every dime you do on a credit card, the bank keeps as profit. Every dime you sent when you pay for a car or a home or anything, the bank keeps the credit all as profit. They keep it all."
These banks also send the "extra money" to the Federal Reserve, which then remits the amount to the globalist owners such as George Soros, Bill Gates and the Rothschild and Rockefeller families. They then use the money remitted by the Fed to do what they want. In the U.S., this money is spent to "buy" American politicians both at the state and federal levels. (Related: Paul McGuire: Marxist and communist revolutionaries are bankrolled by international banking families.)
According to Proctor, everything is controlled by the banking establishment behind the scenes – including the politicians. Thus, he remarked that Americans are not really represented by its government since the people they elected to serve as their voice are being paid by the system.
Proctor told Hagmann that every time the federal government in Washington, D.C. borrows money from the Fed, the banks make a profit as the amount is put through the banking system. The government is also able to give this money to Americans by means of checks issued by the same banks.
When a person takes out a loan for any amount, the banks pay with a check they have in their capital investment program. The banks capitalize all the payments made every month to obtain capital gains, Proctor added.
"It's all profit. It's all money they can do with what they want and that's banking today, right now."
He added that public citizens' banks controlled by the Federal Reserve via the Federal Deposit Insurance Corporation (FDIC) are not really public citizens' banks. According to Proctor, the FDIC is not insurance but a risk since the Federal Reserve needs to use its money. Thus, Americans must not think their money is protected because it is not really protected.
Proctor also talked about the concept of the bank owning itself with Hagmann. He said investors who provided the capital have shares and ownership in the bank aside from receiving the dividends and profits. The caveat in all the shares that were bought, however, is that the bank can and will buy them back whenever they want.
According to Proctor, every corporation can buy all of its stock back and be completely owned by itself.
Proctor said a bank can do it because there is enough money to do it and the profit goes to the state that authorized the bank. He added the state has an auditor who makes sure the bank is following proper banking rules. "The state does not own the bank since it is not state-chartered, but the bank is state-authorized," he explained.
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This video is from the Hagmann Report channel on Brighteon.com.