ECP NetHappenings Freeport storage facilities

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Most “philanthropy” is just legal money laundering
The fix is so simple. No charitable deductions, period.
If you want to be generous to NGOs, museums, churches, etc … do so with your OWN funds — without the taxpayers chipping in a tax subsidy.

There are tons of freeport storage facilities all over the world. They hide gold, gems, paintings…you name it. Art is money laundering and phoney philanthopist seeding
VIDEO
1. https://x.com/i/status/2035374717243199806
2. https://www.youtube.com/watch?v=xLZEhAQx81s&feature=youtu.be

THE FREEPORT SYSTEM
https://www.npr.org/sections/money/2018/02/09/584555705/episode-823-planet-monet
The art market is going nuts. People are spending record amounts of money of paintings like Leonardo da Vinci’s Salvator Mundi. But not everyone is rushing home to hang their new artwork up on their walls. A lot of buyers are storing their art in vast warehouses near airports. They’re called, “freeports.”

It’s not just art; freeport zones are where large merchants, such as Walmart or Target for example, store product for future delivery in neighboring States without needing to pay personal property taxes in the States where the products are stored for future, speedy delivery.

How Contemporary Art Works
Millionaire: Earns $20 million in 2022.
Hires an “artist” for $25,000 to create a “work of art.”
They use a lot of art for tax purposes. It’s all a BS hack

video https://m.youtube.com/watch?v=Dw5kme5Q_Yo
Many times they donate the 80 million dollar painting to a private family foundation. They get an 80 million dollar tax write off. The foundation sells the painting tax free, so they can still manage, invest tax free, loan, donate, & employ family or friends with the 80 million.

The Getty family maintained its immense fortune primarily through the creation of trusts—notably the J. Paul Getty Trust and the Pleiades Trust—which allowed them to shield assets from estate taxes, evade California state income tax by basing operations in Nevada, and facilitate the transfer of wealth through corporate sales, such as the 1984 acquisition of Getty Oil by Texaco.

•The J. Paul Getty Trust: Founded in 1953, J. Paul Getty left the bulk of his estate ($660+ million in stock) to his museum trust, protecting it from inheritance taxes while maintaining it as a charitable entity, according to Wikipedia and Philanthropy Roundtable.

•Tax Avoidance Structures: The family used specialized trusts, including the Pleiades Trust, which was domiciled in Nevada to avoid California’s income tax on trust income.

•Trust Restructuring: In 1985, after a legal battle, the massive family trust was divided, allowing different branches of the family to control their own shares, notes Refinery29.

•Diversification: Beyond the oil fortune, family members pursued new ventures, such as Mark Getty co-founding Getty Images in 1995, building a new empire, according to YouTube.

•Notoriously Stingy Management: J. Paul Getty was famous for his frugality, often seeking tax deductions for expenses, including the 1973 ransom of his grandson, where he only paid the maximum tax-deductible amount, as explained by The Ringer.

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One thought on “ECP NetHappenings Freeport storage facilities”

https://youtu.be/6kA68paRJnk?si=cxpgH-dugFfB-pFY

This video, presented by tax attorney and CPA Jasmine DiLucci, exposes the fraudulent nature of “spendthrift trusts” marketed as a way for the wealthy to avoid income taxes (0:00). She explains that while trusts are legitimate legal tools, promoters are selling them as a scheme to move income into a trust while maintaining control and avoiding taxation, which the IRS treats as illegal tax evasion (0:15).

Key Takeaways:

• The Problem with the Pitch (1:08): Promoters falsely claim that you can transfer income to a trust, still use the money, and not pay taxes. DiLucci warns that this results in criminal investigations, audits, and massive financial penalties for clients (0:28).
• Substance Over Form (3:17): The IRS utilizes the “economic substance doctrine,” meaning they look at who actually controls and benefits from the money, regardless of what the paperwork says (3:20). If you retain control, the IRS treats it as your income (3:31).
• Trust Taxation (4:24): Irrevocable trusts do not automatically save on income tax. In fact, trusts hit the highest tax brackets at very low income levels (4:39). They are not designed to be “tax parking lots” (5:28).
• How the Wealthy Actually Use Trusts (6:31): Wealthy families use trusts for legitimate reasons such as estate planning, multi-generational control, and asset protection—all of which require a genuine transfer of control and economic benefit

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