Courtesy of the IRS: Vaccine companies paid even if they don't produce actual vaccines
It is documented fact that the private vaccine industry receives large cash payments from the federal government to produce "life-saving" and "emergency" vaccines that the public is told are necessary to thwart certain disease crises. But did you know that many of these vaccines are never even manufactured, and not only are vaccine companies paid with your money (if you're a taxpayer) regardless, but they are also awarded special accounting privileges that claim these payments as revenue?
During a recent segment on The Robert Scott Bell Show, certified public accountant (CPA) Ty Bollinger explains how many childhood vaccines, as well as the influenza vaccine, are basically exempted from normal revenue recognition rules. These special rules allow vaccine companies to immediately recognize revenue from vaccines for stock price and profit purposes, even if those vaccines are never manufactured or delivered.
"We're living in a fascist state where the corporations control the government," stated Bollinger during the segment. "In ASU [Accounting Standards Update] 2009-07, in section 99-1, there's an interpretive release... it's guidance regarding the accounting for sales of vaccine and bio-terror countermeasures to the federal government, or being placed into a pediatric vaccine stockpile."
"The primary objective in purchasing the vaccines... is not to take delivery but rather to be able to require delivery on a moment's notice. The hope of both parties to these contracts is that the vaccines will never be needed, and thus never delivered."
Vaccine companies paid to produce vaccines they never end up producing, and are then allowed to report this free money as "revenue" to the IRS What does this mean for vaccine manufacturers? It means that they can document payments from the federal government in their accounting books as revenue, even if the government never calls upon them to produce the vaccines for which they are paid. No other industry is allowed to flout the standard accounting rules in this way, except for Big Pharma.
"So these vaccine manufacturers are entering into contracts with the government, and being paid for vaccines that they do not manufacture," explains Bollinger. "The government is contracting with them and paying them under the auspice that they will be able to manufacture them on a moment's notice if they are ever needed. ... They are being paid for something that they might never, and will likely never, have to produce."
The two legal requirements for revenue to be recognized is that it be both realized and earned. And in order to accomplish this, delivery of the product for which revenue was earned must occur. But for vaccine companies , the government has determined that special exemptions will apply that allow them to boost their stock prices while earning more than 100 percent profit on vaccines that they never even manufactured.
"'Since you're Big Pharma, we are going to give you an exemption that only applies to you ... [and] the commissioner is not going to object to you recognizing revenue, even if you don't manufacture them and don't deliver them, as long as it's one of these certain types of vaccines,'" added Bollinger about the government's approach. "Well, childhood vaccines, influenza vaccines, and then any other vaccine and countermeasure sold to the federal government [is covered] ... So basically every vaccine is exempt."
"Vaccine manufacturers can make money, they can report it on their financial statements, and they can bump their share price up for vaccines that they have never made and never delivered."
You can listen to the full segment with Ty Bollinger on The Robert Scott Bell Show here:
YouTube.com.
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