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The 1971 Lockhead Bailout Cost $250 Million. Social Programs Suffer While the Government Puts Endless Funds Into Programs That Keep the War Machine Thriving.

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The 1971 Lockhead bailout is but one in a long history of government bailouts.

The United States bailing out industries in spite of their rhetoric of letting the free market take its toll is nothing new, especially when helping out one of its best buddies.

Lockheed, one of the largest government contractors, had come under tough times.

It sunk nearly a billion dollars into building a new super-jet only to encounter countless problems and could no longer secure loans to keep the operation running.

The bailout was a contentious issue in the United States Senate and the vote came down to a 48-48 tie that then Vice President Spiro Agnew solved by voting in favor of giving Lockheed a quarter of a billion dollars (nearly $1.5 billion in today’s dollars) in loan guarantees.

Today, Lockheed is now a merged company with Martin Marietta, and is the single largest United States defense contractor as it brings in 92% of its $39 billion annual revenue from government contracts.

This is just one small example of the banking elite buddy system where the shadow government helps out its own.

The elected politicians are nothing but puppets to be used by the elite to further their New World Order causes.

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1971 Lockhead Bailout: Leading Up

Lockheed began as an aircraft manufacturer in 1912 when it was called the Alco Hydro-Airplane Company and renamed the Lockheed Aircraft Company in 1926.

It was then bought out by the Detroit Aircraft Corporation in 1929 when the Great Depression ruined them.

As the Lockheed Corporation, the company climbed to the top of the aerospace industry, largely thanks to defense contracts during World War II and in the beginning of the Cold War when they produced countless jet fighters.

By the late 1960s and early 1970s, however, the company had fallen into a huge debt when they had to shelve two major projects when their partner, Rolls Royce, collapsed. With countless other contracts in jeopardy, the major defense contractor’s future was in trouble.

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The 1971 Lockhead Baioult

Because of Lockheed’s ties within the government, the company unleashed a major lobbying effort to shore up support first among the friends of the corporation and later everyone else.

Lockheed was asking the federal government to guarantee a quarter of a billion dollars in loans, around $1.3 billion in 2009 dollars.

The Nixon administration was very much on board with the bailout but the issue was hotly debated in Congress.

The bailout bill passed by a three vote margin in the House of Representatives and a tie vote was cast in the Senate which prompted Vice President Spiro Agnew to push the bill through.

And so, right before going on vacation, Congress handed Lockheed the quarter of a billion dollars they had asked for and Lockheed was still standing when Congress came back a month later.

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After the 1971 Lockhead Bailout

Some 20 years later the company would get even larger when they merged with Martin Marietta to form Lockheed Martin.

The company continues to produce aircraft, as well as military grade electronics and satellite systems.

Today, the company is the single largest government contractor in the world.

The company brings in over 40 billion dollars every year and employs thousands of people with more than 90% of the company’s revenue coming in from government contractors.

The banking elite study is alive and well in the government today. With the New World Order this will be yet even more common.

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