At this point in time, it could go both ways the BeLIEve part. Either Ginjou is speaking the truth and SS has been stringing Ichigo along or Ginjo's lying and the purpose of the badge is not as he says it is. But seeing the reactions of Urahara and Isshin, I'm inclined to believe that much of Ginjo said was the truth. They seem to be completely aware of the situation, and considering that Ginjo was a Sub Shinigami before, he's got the perfect reason to know all this.
Now, we just have to figure out how Ichigo's taking this. I wonder if he's gonna make the mature decision and realize that it's only natural for an organization to keep tabs on an 'unknown' factor. That's just how things work in the world at large. If Ichigo understands despite the (supposed) underhanded sneakiness of Ukitake, then he'll come out alright. He'll waste Ginjou and then he'll be looking for some serious answers. Either way, I just can't see Ichigo turning against SS. At the very least, only the Captains and maybe the VC's are aware of the real purpose of the badge.
Anyway, Ichigo's uncommonly mature for a Shonen MC, so I'm sure he'll be going over everything that Ginjou said while trashing him, then come up with his own answer. But he'll definitely be asking some serious questions after all is said and done.





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