State, County, And Local Governments Hide Trillions - CAFR Update

From http://www.sightings.com/politics2/hidetrill.htm State, County, And Local Governments Hide Trillions - CAFR Update By Walter Burien 6-7-99 To get some of the CAFR reports available for downloading go to this Internet site: http://www.financenet.gov/state/cafr.htm If your State or County is not listed, send an E-Mail to a neighboring State saying that you have their State CAFR report, andyou would like to do a comparison study of your State's CAFR report, and would they please E-Mail you back with the department, telephone number and contact name in YOUR State + Counties + large Cities to get their CAFR report. The States all share each others CAFR reports for comparison.. _________ The following example is for the state of Texas, but applies to all States in varying degrees. Some more some less: Get the Texas State 1997 CAFR - It lists under the "local Government Investment Pool" 5.5 Trillion. States own investment totals 2.8 Trillion. Texas government composite totals 8.3 Trillion. (that's - $8,300,000,000,000.00 ) "The Texas CAFR states that the State of Texas has $8.3 trillion in investments. If we arbitrarily assume at this point in time that $2.8 trillion is for retirement and pension plans, etc., that leaves $5.5 trillion in surpluses. What does this mean? If Texas has a population of 20 million, the $5.5trillion means the State of Texas with all of its governments has $275,000 in surpluses for every man, women and child in the State. For a family of 4, the State of Texas local governments have $1.1 million of your money that it is not being used to run all of the governments "Budgets" in the State of Texas. Another way of looking at this is to say that if all the governments in the State of Texas were required to apply the income, say at 7.5%, first to the operating budgets of all the governments in the State, estimated at $215 billion, and then the balance as a dividend check to each man, women, and child in Texas, Texans would no longer have to pay any taxes and each year each person could receive a dividend check of $9,875 or $39,500 for a family of 4 from now on. Do you know what this would do for the economy of Texas? It would explode creating the greatest economic expansion in Texas history. These types of surpluses are in every city, county and State in the U.S. It is time for the people to start finding out about these surupluses and start doing something about them." California State CAFR 1997, lists total investment assets of about 3 trillion "BUT" in the notes it will direct you for the complete accounting to the "Legal Basis Comprehensive Report" showing 12 trillion under management. Just so we don't miss the most basic point here, composite government has amassed in total liquid assets, 60 trillion dollars plus. The total net worth of the private sector is 25 trillion. Get the point...... There are 10,000 cell operations that make up the whole. The principle of operation is: Through trickle down economics, just enough revenue is released to the public to keep the chipmunk running on the treadmill chasing the carrot, as they, the composite government boys, tap off 80% of the energy from the treadmill, thus keeping the public working at optimum efficiency. Why do you think Gorbachev went democratic? Composite Government funds, listed as institutional fund, managed by listed institutional investment companys, own 71% of Xerox Corp., 41% of AT&T, 57% of Motorola, etc. Get the point..... Insurance company equity participation, (mandated federal law 1969, enacted for full effect after a 10 years compliance period in 1979), for 1/3 of the value of the insurance policy, to be on deposit and held by the insurance industry as a major catastrophe fund New Jersey State 1998 CAFR is 34 Billion dollars invested with insurance company equity participation, California is 1.8 trillion dollars, Federal is 4.6 trillion dollars. The revenue in the catastrophe fund, 86-90% is provided by composite government investment funds. That's about 8 trillion dollars. Do you know what the annual interest income is on 8 trillion at 4 to 5%. Get the point...... Undisclosed tax through enactment of law on the insurance industry for the creation of the fund, where they, composite government, provided the revenue to meet the revenue requirements. Ever wonder why auto insurance rates are so high and payment is enforce by armed force? Well, lets see, Arizona, min coverage is $30,000 1/3 = $10,000, 5% annual interest on $10,000 = $500. My insurance is $658 per year - $500 = $158 to the insurance company.. Get the point???? STOP LOOKING AT THE LEAFS ON THE BRANCHES OF THE TREES OF THE FOREST... Look at THE FOREST... Composite totals show the clear and unequivocal financial take over of the wealth of this country from the people. Composite government pension funds = 28 trillion dollars. The entire private sector will never realize that amount. Get the point? Bottom Line____ OPEN DISCLOSURE TO THE PUBLIC OF COMPOSITE TOTALS First step: The CAFR has been hushed through cooperative nondisclosure to the public. Immediate disclosure OF THE NAME of the report to the public is paramount. As of 1998 large sums of revenue, fiduciary and trust funds, are not listed and are accounted for in other documentation noted in the CAFR. Prior year reports 1997-1975 are imperative to be looked at when following the money trail. The NAME OF THE GAME is composite totals which shows the degree of the financial takeover. Government has turned into a virus and the public is the host for that virus. The problem is that the virus is now substantially bigger than the host.. The Equivalent of the Comprehensive Annual Financial Report (CAFR) for the composite totals of the majority of Federal Government agencies is called the Federal Government Combined Financial Statement. To download the US Federal Government Combined Financial Statements for 1997, 96 & 95 go to this site: http://www.fms.treas.gov/cfs/index.html Read the last page first. It shows what agencies are included in the combined statement and those that are excluded. You will see the ones excluded from the report as being the primary cash and investment agencies. Are they worried that if they were included that the balance sheet would show positive assets in the trillions ?? hmmm... To see the Federal Regulation submitted in 1979 by GFOA requiring local governments (City, County and States) not already having a CAFR to prepare a CAFR report go to this Internet site: http://www.financenet.gov/data/welco...accounting.txt Please get the word out today so that the public can see the forest for the first time. Thanks, Walter J. Burien, Jr. [This message has been edited by renots (edited 07-15-2000).] [This message has been edited by renots (edited 07-15-2000).] __________________ gesundheit! __________________ Uhhh, Renots/For20, so you are against governments investing? What about about colleges and universities? Yes, I read the whole thing and I dont understand your problem with it. __________________ Quote: Originally posted by fakesurfers Uhhh, Renots/For20, so you are against governments investing? What about about colleges and universities? Yes, I read the whole thing and I dont understand your problem with it. It's the two~faced nature of the whole thing; local, state, and federal governments are constantly asking for fresh sources of revenue, yet they do their best to obscure investment income from public sight. This is how we end up with huge porkbarrel schemes that basically do nothing but transfer more public funds to the politically connected. It's like if ur brother kept hitting you up for bucks, never paying them back and then finding out he's got millions in the bank, but thought it was just a hella of alot easier getting it from you. __________________ Quote: Originally posted by fakesurfers Uhhh, Renots/For20, so you are against governments investing? What about about colleges and universities? Yes, I read the whole thing and I dont understand your problem with it. In California, the present obscuration of facts has allowed prisons to eat up more of the state budget than higher education. Some true accounting would go along way towards reaching an more equitable solution than the Big Prison Scam being run today __________________ But are these 'secret' funds used for the gratification of the prison-industrial complex or to fatten the coffers of the prison guards union? I doubt it. Most of these funds are for pensions and education. If anything, it reduces the total % of funds used for ill purposes. Mavi forum