CAFR SCHOOL: How Corporations Are Funded By Taxpayers


As a lowly young man full of ideas that would have changed the world; and naively believing that I could implement them, I often wondered at how large corporations became so wealthy and attained such incredible amounts of capital for their projects, warehouses, office buildings, investments, and for their global expansion. Why were the tallest buildings in every city I visited always topped with a bank logo? Why were the names of every city’s sports arenas and concert halls being replaced with oil/energy and other corporation names and logos, even though the taxpayers paid for their construction? And after many failed attempts to start up my own small business ventures that would revolutionize the world, I gave up trying to play in the big boy markets, because I couldn’t get my hands on the big boy money. I realized that some unseen hand would not allow me to compete, though I could never figure out just whose hand it was. And so I gave up… justifying and rationalizing my failures on this unseen force that I knew existed but could never actually see…

And then I met a man named Walter Burien.

It is not often in our lives that we come across one man who virtually lifts the wool from over our own eyes, but this was one of those times. It was not so much what he showed me as much as what he inspired me to do. And thanks to him, I was hooked on a little thing called the Comprehensive Annual Financial Report (CAFR).

For months and months I poured over these financial statements for the various types of government municipal corporations, attempting to comprehend the almost foreign creative accounting language and legalese that was presented within – which was sure to drive off even the most ardent of researchers. But for some reason, as frustrating as that learning curve was, I persisted. And finally, after so many years of being blinded by that unseen hand, I can at last see my nemesis…

As it turns out, this foe was the very government structure that had passed the legislation limiting me in my business ventures. It is the same government corporate structure that assigns patents to the major corporations, while making the patenting process either too expensive or too difficult for the average person or small business to utilize. It was the same government corporation that made it so hard to incorporate in the first place, and which created so many fees, taxes, and restrictions that a small business could never really get ahead. And it is the same government that literally owns everything you can see – that has invested over many decades into all private and public corporations, real estate, foreign currencies, precious metals, and everything else worth owning under the sun and around the world.

No wonder the average Joe can’t get ahead!

I have been asked several times to explain how banks, weapons manufacturers, insurance companies, investment holdings companies, health and pharmaceutical corporations, and essentially the entire corporate business structure of the world is funded - why do private corporations have so much extra money to expand, to buy other corporations, and to just in general play around with? How do banks come up with the capital to mortgage the entirety of the salable lands of the world? And where does that money come from in the first place?

As it turns out, the people of the United States are paying for this through their own sheer ignorance of where their own taxpayer money is being taken and invested. And this of all ironies is the most destructive reality for the very people who lack the knowledge of their own governments’ grand conspiracy through its investment fund scheme.

And today, I’m here to wake you the hell up!

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The Problem With Pensioners

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As a public pensioner, what would you do if I told you that, indirectly, you are responsible for most of the problems in the world, from hunger to depression to war?

What would you do if I told you that each one of you as pensioners are voluntarily invested in all of the corporations that are destroying our health, our prosperity, and our world?

What would you do if you found out that because of each one of you collectively, the worst of corporations are being funded with taxpayer money?

How would you feel if you were heavily responsible for the funding of globalization; for building up Mexico and China’s sweatshops and promoting imports to America – and for the loss of jobs in America – simply because you are not paying attention – or don’t know – or don’t care – about what your “retirement nest-egg” is investing in, as long as you’re taken care of in the end?

What would you do if you found out that your pension contributions went to fund the corporate stocks and bonds that are used to build the weapons, the chemical biological agents, and the depleted uranium armaments that are killing and retarding millions upon millions of men, women, and children around the globe, including in America?

What if you finally comprehended that the national and international banks, oil and pharmaceutical companies are all funded by your “contributions”, and that all of the taxpayer’s in America are also forced through taxation to contribute to your pension fund investment scheme (with no benefit to the taxpayers themselves), knowing that the U.S. occupations of the Arab nations like Afghanistan and Iraq are for the government’s and the corporation’s control of oil and opium, and that these beautiful countries and their infrastructures are decimated just so that corporations like Halliburton can rebuild those infrastructures via no-bid government contracts while being forced into debt by the very government you fund?

How would it feel to know that the entirety of the government-contracted corporations that make up the “Military-Industrial Complex” are all funded by our collective pension fund contributions?

What would you do?

Is your nest-egg; your pension retirement benefits… are they really more valuable than the millions and millions of lives lost around the world at the hands of the corporations that your collective monetary contributions support via these government investment pension pools?

If you are a taxpayer or a pensioner (and that’s about anyone who is reading this), then you are absolutely and collectively 100% responsible for all of the above – simply because you don’t know.

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Where Are My Pension Contributions Invested?

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This oh so important question is one that is not generally asked by the recipients of pension benefits. To most, the answer to this question does not matter, as long as there is a return on that investment today that will guarantee personal retirement benefits tomorrow. And this is perhaps the most egregious and shameful aspect of the entire population of America – of all people. For your wealth and the benefits that you receive are directly correlated to the poverty and destruction that allows corporations and government to prosper. In short, as a pensioner, you are being paid for looking the other way.

As a taxpayer, you should know that many 100′s of billions of dollars are ripped out of the tax-base each year and force fed into the nation-wide pension system (including Social Security) in the form of “on-behalf” taxpayer “contributions” for federal, state, local, and district pension employees. This world-wide phenomenon has created an international pension investment system that, in January 2008, Morgan Stanley estimated held over US $20 trillion in assets, and are collectively the largest investment platform in the world. Others with a less personal and unbiased interest in these pension funds make this estimate to be many trillions higher.

We have all heard about Morgan Stanley, as well as many other major conglomerate banking institutions like J P Morgan Chase. They have been demonized as rogue institutions that are destroying the economy seemingly outside of the law or of government intervention – aside from bailing them out with taxpayer money when their gambling habits take a wrong turn (publicly and purposefully that is, because for every loss there is an equal gain by some other entity collaboratively playing the same game).

So let’s examine some of the United States’ Pension investments that are funding the capital liquidity and crime of institutions like Morgan Stanley…

We’ll use the largest public pension fund in the United States, CalPERS.

For those who have never before had the chance to behold the incredibly inconceivable wealth and investments that most pension funds have within, this is a wonderful tool to get a grasp on just how the international structure of corporations that make up the “economy” get their funding. Here is the “Annual Investment Report” for fiscal year 2011, which shows all of CalPERS individual investments:

Link–> http://www.calpers.ca.gov/eip-docs/about/pubs/annual-investment-report-2011.pdf

One could spend all day going through this investment holdings report and find just about every corporation in the world as a government investment stock-held company. But remember, this is just one of thousands of pension funds across the country, all with the same investment structure on different levels.

So let’s look and see just how much of your taxpayer and pension contributions in just CalPERS are funding just these two banks as of 2011:

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CalPERS just happens to own 4,583,935 shares of Morgan Stanley, at a listed book value of $98,224,686 - and a market value of $105,476,344.

It also lists its direct stock ownership in JP Morgan Chase at 11,543,471 shares, with a book value of $292,151,725 – and a market value of $472,589,703.

TOTAL (book value) = $390,376,411
TOTAL (market value) =
$578,066,047

(Note: These are two separate companies, used here as examples.)

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This represents the ownership portion of stock that this single government pension fund “CalPERS” owns outright in these two banks. The conflict of interest should be apparent here, as this and all pension funds around the world depend upon a return (profits and dividends) from holding this stock investment, while at the same time being a part of the same government that regulates the banking industry. One does not necessarily want a major stock owner of a banking corporation also making the public laws, for instance, on real estate loans and the foreclosure process. But that is exactly what is happening here.

But we can’t stop here, for this is a massive list with many different types of investments into Morgan Stanley and JP Morgan Chase (as well as every significant bank on the planet). CalPERS also lists the following forms of taxpayer monies being given, loaned, or “bonded” to Morgan Stanley:

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(Page 4) “Domestic Cash Equivalents (securities)”

COLLATERL JP MORGAN CHASE - par/market value – $39,800,000 – listed at a measly 0.07% return, maturing 12/31/1949

MORGAN STANLEY REPO - par/market value – $66,500,000 - listed at a measly 0.04% return, maturing 12/31/1949

TOTAL (par/market value) = $106,300,000

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(Page 6-7) “Asset-Backed Securities”

CHASE ISSUANCE TRUST – par value – $1,865,000,000 – market value - $1,887,438,748 – 1.74% return, maturing 04/15/2014

JP MORGAN MORTGAGE ACQUISITION – par value – $7,150,000 - market value - $2,532,394 - 1.32% return, maturing 01/25/2037.

JP MORGAN MORTGAGE ACQUISITION – par value - $27,936 - market value - $8,166 - 0.91% return, maturing 08/25/2036.

MORGAN STANLEY CAPITAL INC - par value $95,008 - market value – $77,319 - 0.88% return, maturing 09/25/2034

MORGAN STANLEY CAPITAL INC – par value $2,660,000- market value – $1,866,197 - 0.69% return, maturing 12/25/2035

MORGAN STANLEY CAPITAL INC  - par value $2,921,764- market value – $2,537,286 - 0.58% return, maturing 11/25/2035

MORGAN STANLEY DEAN WITTER CAP - par value $292,899- market value – $111,961 - 8.53% return, maturing 11/25/2032

TOTAL (par value) = $1,878,147,607
TOTAL (market value) = $1,894,572,071

.

(Note that CalPERS gave these “loans” to Morgan Stanley, getting a horrible return on its investment, often less than 1% - and not getting that money paid back until as long as 2037 and beyond. This leaves Morgan Stanley and JP Morgan Chase to use and invest that money for more than 25 years for future massive profits and expansion. And if these banks lose it? No problem. The taxpayers are always there to bail them out! And your credit card from these same banks, which may be using some of this same CalPERS pension fund investment money to loan back to you via your credit card, personal, or mortgage loan, may have an interest rate as high as 24%!!!)

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(Page 14) “Corporate Bonds”

JPMC CAPITAL XVIII - par value $5,760,000 – market value - $5,740,3486.95% return, maturing 08/01/2066

JPMORGAN CHASE & CO - par value $96,000,000 - market value – $103,112,640 – 7.90% return, maturing 04/29/2049

JPMORGAN CHASE + CO - par value $1,600,000 - market value – $1,656,316 - 4.95% return, maturing 03/25/2020

JPMORGAN CHASE CAPT XX - par value $ 8,765,760 – market value – $8,734,555 - 6.55% returnmaturing 09/15/2066

MORGAN STANLEY – par value $56,640,000 – market value - $62,164,863  – 6.63% return, maturing 04/01/2018

MORGAN STANLEY – par value $45,120,000 – market value - $48,356,731 – 5.95% return, maturing 12/28/2017

MORGAN STANLEY - par value $48,000,000 – market value - $49,159,823 – 5.63% return, maturing 09/23/2019

MORGAN STANLEY – par value $870,000 – market value - $906,554 – 4.75% return, maturing 04/01/2014

MORGAN STANLEY – par value $2,870,000 – market value - $2,798,066 - 0.59% return, maturing 01/09/2014

MORGAN STANLEY DEAN WITTER - par value $1,130,000 – market value - $1,180,195 - 6.60% return, maturing 04/01/2012

TOTAL (par value) = $266,755,760
TOTAL (market value) = $283,810,091

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(Page 51-52) “Mortgage-Backed Securities”

JP MORGAN CHASE COMMERCIAL MOR - par value $308,972,643 - market value – $3,256,324 - 0.35% return, maturing 01/15/2042

JP MORGAN CHASE COMMERCIAL MOR - par value $32,928,000 - market value – $36,647,187 - 6.07% return, maturing 04/15/2045

JP MORGAN CHASE COMMERCIAL MOR - par value $70,560,000 - market value – $77,115,803 - 5.88% return, maturing 02/15/2051

JP MORGAN CHASE COMMERCIAL MOR - par value $274,891,936 - market value – $295,478,211 - 5.44% return, maturing 06/12/2047

JP MORGAN CHASE COMMERCIAL MOR - par value $18,816,000 – market value – $20,331,229 - 5.42% return, maturing 01/15/2049

JP MORGAN CHASE COMMERCIAL MOR - par value $1,085,000 - market value – $1,156,473 - 5.34% return, maturing 05/15/2047

JP MORGAN CHASE COMMERCIAL MOR - par value $1,700,000 - market value – $1,849,798 - 5.43% return, maturing 12/12/2043

JP MORGAN CHASE COMMERCIAL MOR - par value $30,209,893 - market value – $552,778 - 1.40% return, maturing 10/12/2037

JP MORGAN CHASE COMMERCIAL MOR - par value $109,863,895 - market value – $339,216 - 0.94% return, maturing 11/15/2035

JP MORGAN CHASE COMMERCIAL MOR - par value $25,783,365 - market value – $159,792 – 1.17% return, maturing 10/12/2035

JP MORGAN MORTGAGE TRUST – par value $858,671 - market value – $838,576 5.78% return, maturing – 04/25/2036

JP MORGAN MORTGAGE TRUST – par value $308,554 - market value – $260,083 – 2.77% return, maturing 07/25/2035

JP MORGAN MORTGAGE TRUST – par value $1,459,122 - market value – $1,304,019 - 2.78% return, maturing 06/25/2036

JP MORGAN MORTGAGE TRUST – par value $68,035 - market value – $66,727 - 2.96% return, maturing  11/25/2033

MORGAN STANLEY CAPITAL I - par value $98,784,000 – market value – $7,262,168 - 1.37% return, maturing 06/15/2044

MORGAN STANLEY CAPITAL I – par value $1,700,000 – market value - $1,789,567 - 5.57% return, maturing 12/15/2044

MORGAN STANLEY CAPITAL I – par value $47,040,000 - market value – $50,482,724 - 5.33% return, maturing 11/12/2041

MORGAN STANLEY MORTGAGE LOAN T – par value $670,407 - market value – $156,964 - 3.00% return, maturing 08/25/2034

MORGAN STANLEY MORTGAGE LOAN T – par value $561,385 - market value – $141,127 - 2.90% return, maturing 09/25/2034

MORGAN STANLEY MORTGAGE LOAN T – par value $1,307,796 - market value – $565,047 - 4.32% return, maturing 06/25/2037

MORGAN STANLEY MORTGAGE LOAN T – par value $4,008,030 - market value - $2,456,630 - 5.14% return, maturing 11/25/2037

MORGAN STANLEY MORTGAGE LOAN T – par value $18,201 - market value - $18,087 - 6.00% return, maturing 08/25/2037

MORGAN STANLEY MORTGAGE LOAN T – par value $1,712,350 - market value - $1,222,467 - 2.61% return, maturing 07/25/2035

MORGAN STANLEY MORTGAGE LOAN T – par value $364,015 - market value – $305,840 - 1.60% return, maturing 10/25/2034

TOTAL (par value) = $1,033,671,298
TOTAL (market value) = $958,096,837

(Yes, you read that correctly. You’ve heard about these mortgage-backed securities and you’ve probably wondered – who was buying all of these things anyway? Well now you know… your own government – with your own money! Your government not only allows these criminal junk securities to be legal and flourish in the banking and investment markets by law, but government also funds the whole financial mechanism so that banks can buy, sell, and resell and re-resell and re-re-resell and re-re-re-resell your mortgage contract until no one actually knows who has the original lien and deed on anyone’s home anymore. Again, government invests in corporations and funds their liquidity… and it benefits from your suffering and from the loss of your home when the bank forecloses. All that matters is that their stock investment and liquidity in the company has capital gains, creates interest, and pays dividends. And your personal ignorance of this is key to the whole operation.)

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(Page 57) “International Debt Securities”

MORGAN STANLEY - par value $4,000,000 -
market value - $5,417,906 - 1.71% return, maturing 04/13/2016

TOTAL (par value) = $4,000,000
TOTAL (market value) = $5,417,906

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So let’s total up these investments and loans and figure out just how much this one pension fund called CalPERS has invested into just these two conglomerate banks:

Direct Ownership Stock Holdings:

TOTAL (book value) = $390,376,411
TOTAL (market value) = $578,066,047

Domestic Cash Equivalents (securities)

TOTAL (par/market value) = $106,300,000

Asset-Backed Securities

TOTAL (par value) = $1,878,147,607
TOTAL (market value) = $1,894,572,071

Corporate Bonds

TOTAL (par value) = $266,755,760
TOTAL (market value) = $283,810,091

Mortgage-Backed Securities

TOTAL (par value) = $1,033,671,298
TOTAL (market value) = $958,096,837

International Debt Securities

TOTAL (par value) = $4,000,000
TOTAL (market value) = $5,417,906

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TOTAL (par value) = $3,679,251,076
TOTAL (market value) = $3,826,262,952

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It is important to understand here that this single pension fund has nearly $4 billion in directly apportioned investments within just these two banks. In reviewing thousands of other public pension fund “asset holding lists” we will find a similar pattern, from billions to millions and down into the smallest of pension funds with mere thousands. But collectively, when all of these funds are considered as one whole government investment scheme, we can easily see that the corporate world as it stands today would not exist without government funding through taxpayer and pension contributions to it, and directly because of these pension investments over the last several decades.

It is also important that we consider what are called “indirect” investments held by these pension funds. While direct stock and bond listings are very clear as to where that taxpayer money is invested, CalPERS (and all pension funds) also invest heavily into the private equity and mutual fund markets. In fact, as you can see, the pension and other government fund structures across the country are the main investors (institutional investors) within these private funds.

The problem? Those funds also invest into JP Morgan Chase, Morgan Stanley, and most other banks and investment houses. And so to get an accurate accounting of the % of investments that CalPERS actually has within these two financial institutions, we would have to audit its own investments in these private funds to find out where that private fund has placed CalPER’s investment income – and good luck with that!

Let’s see what CalPERS has in a few of these private equity funds…

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State Street Corporation:

STATE STREET CORP – 1,777,017 shares of ownership stock at a market value of $80,125,697

“Corporate Bonds”

STATE STR CAP TR III  – par value $6,200,000 -
market value – $6,202,728 – 5.24% return, maturing 01/29/2049

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Why is State Street Corporation important here?

From this CalPER’s report, it states:

“Our Investment Office staff, pension consultant Wilshire Associates, and State Street Bank & Trust, our master custodian, compiled the investment data presented on the next pages as required by the Public Employees’ Retirement Law.”

So CalPER’s pension fund owns stock in the banking institution that is its “master custodian”, and this bank is responsible for issuing the very report we are reading!!! Yet another blatant conflict of interest, in a bank that is not in a position to go against its stockholder without consequence!

Now let’s look at the Carlyle Group…

This investment giant is infamously connected to the George Bush family, who became president of the whole corporate government structure (not to mention his son), and as you can imagine continues to indirectly benefit heavily from government investments into this “group” – where he and his cronies acquire corporation after corporation with your taxpayer money…

Just what is The Carlyle Group?

“The Carlyle Group is an American-based global asset management firm, specializing in private equity, based in Washington D.C. The Carlyle Group operates in four business areas: corporate private equity, real assets, market strategies, and fund-of-funds, through its AlpInvest subsidiary. In its 2010 annual report, Carlyle reported assets in excess of $150 billion under management diversified over 84 distinct funds.The firm employs more than 890 employees, including 495 investment professionals, in 20 countries with offices in the Americas, Europe, Asia, and Australia, and its portfolio companies employ more than 415,000 people worldwide. The firm has over 1,300 investment partners in 71 countries.

According to a 2011 ranking called the PEI 300 based on capital raised over the last five years, Carlyle was ranked as the third largest  private equity firm in the world, after TGP Capital and Goldman Sachs Principal Investment Area. Carlyle had been ranked first in the 2007 listing.

In 2001, the California Public Employees’ Retirement System (CalPERS) acquired a 5.5% holding in Carlyle’s management company for $175 million. The investment was valued at approximately $1 billion by 2007 at the height of the 2000′s buyout boom…

In November 2008, The Carlyle Group was named Private Equity firm of the year in the U.S. at the Financial Times-Mergermarket 2008 M&A Awards.

In March of 2009, New York State and federal authorities began an investigation into payments made by Carlyle and Riverstone to placement agents allegedly made in exchange for investments from the New York State Common Retirement System (NYSCRS), the state’s pension fund. It was alleged that these payments were in fact bribes or kickbacks, made to pension officials who have been under investigation by New York State Attorney General, Andrew Cuomo. In May of 2009, Carlyle agreed to pay $20 million in a settlement with Cuomo and accepted changes to its fund-raising practices. (Author’s note: Where did that money go, and what was the point – Carlyle Group certainly didn’t change its criminal methods. How did the people benefit? They didn’t.)

In 2010, the Financial Times announced that Carlyle Group is the private equity firm of the year…

In February 2008, a bill was introduced in California that would have barred CalPERS from investing money “with private-equity firms that are partly owned by countries with poor records on human rights,” which would include Carlyle because Mubadala Development is owned by part of the United Arab Emirates. The California bill was later withdrawn.”

George H. W. Bush, former U.S. President, served as Senior Adviser to the Carlyle Asia Advisory Board from April 1998 to October 2003 (while his son was still President!).

So what investments into the bonded liquidity base of the Carlyle Group does CalPERS have on its balance sheets, allowing Carlyle holding companies around the world to flourish with taxpayer investment capital?

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The Carlyle Group

Alternative Investment Management Corporate Restructuring (securities)

Name of holding company…..
Book Value
……….Market Value

CARLYLE…………………………………………………
$22,892,350…………$55,040,942

CARLYLE ASIA PARTNERS GP II……………..
$123,783,417…………$127,894,756

CARLYLE ASIA PARTNERS III…………………
$140,997,939…………$149,682,813

CARLYLE ASIA PARTNERS LP…………………
$33,716,341……………$72,661,556

CARLYLE EUROPE PARTNERS II…………….
$33,781,818…………..$49,114,244

CARLYLE EUROPE PARTNERS III LP………
$275,068,958………..$269,585,374

CARLYLE GLB FIN SERV PARTNERS……….
$98,610,047………….$112,930,518

CARLYLE JAPAN INTL PARTNERS II……….
$111,350,716………….$101,874,064

CARLYLE JAPAN PARTNERS LP………………
$17,898,023………….$8,194,635

CARLYLE MANOR CARE………………………….
$13,128,107…………..$16,645,859

CARLYLE MEXICO PARTNERS………………..
$11,603,147……………$12,604,035

CARLYLE PARTNERS II LP………………………
$3 ,803,945…………..$7 ,150,317

CARLYLE PARTNERS III LP…………………….
$39,530,330…………..$20,698,248

CARLYLE PARTNERS IV, L.P……………………
$225,810,782…………$288,443,791

CARLYLE PARTNERS KINDER MORGAN…
$29,477,075…………..$68,215,645

CARLYLE PARTNERS V……………………………
$451,370,251………….$528,018,454

CARLYLE/RIVER RENE+ALT ENGY II …….
$140,853,360…………$163,748,816

CARLYLE/RIVERSTONE GLB E+P IV……….
$309,206,623………..$444,256,236

CARLYLE/RIVERSTONE GLOBAL……………
$195,614,177…………..$299,501,436

 “Alternative Investment Management Distressed Securities”

CARLYLE STRATEGIC PARTNERS…………..
$23,175,881…………….$34,972,657

CARLYLE STRATEGIC PARTNERS II ………
$58,002,997……………$79,704,250

CARLYLE/CALPERS CLO………………………..
$99,669…………………..$1,443,533

 “Alternative Investment Management Expansion Capital”

CARLYLE ASIA GROWTH PRTNRS IV……..
$40,863,278……………$48,175,768

CARLYLE ASIA GROWTH PRTNS III……….
$67,338,852…………….$67,445,066

CARLYLE GROUP……………………………………
$175,000,000………….$436,100,000

CARLYLE RIVERSTONE BRAZIL……………..
$17,362,588…………….$2,462,850

CARLYLE VENTURE PARTNERS III…………
$56,071,943…………….$64,646,861

CARLYLE/RIVERSTONEENERGYFDI,LP…
$54,262,246…………….$27,063,846

“Alternative Investment Management Special Situation”

CARLYLE EUROPE REALTY PARTNERS….
$11,107,976………………$7,178,856

CARLYLE REALTY III LP…………………………
$13,542,519………………$15,689,426

“Alternative Investment Management Venture Capital”

CARLYLE ASIA II LP……………………………….
$21,797,371……………….$2,737,812

CARLYLE EUROPE TECH PTNRS II………..
$57,274,489………………$50,288,690

CARLYLE VENTURE PRTNRS II LP…………
$40,025,303……………..$13,678,335

“Inflationary-Linked Assets”

CARLYLE INFRASTRUCTURE PARTNER..
$5,911,590…………………$51,033,705

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TOTAL  BOOK VALUE OF INVESTMENTS IN
“CARLYLE GROUP” COMPANIES:
$2,920,334,108

TOTAL MARKET VALUE OF INVESTMENTS IN
“CARLYLE GROUP” COMPANIES:
$3,698,892,394

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But we mustn’t forget about the subsidiary corporations owned by Carlyle Group, for these pension funds also purchase stock in these sub-corporations as well as their mother corporation – which can also be considered here as investments into the Carlyle Group itself:

BOOZ ALLEN HAMILTON HOLDING – 26,773 direct shares, market value - $511,632

CSX CORP - 3,245,673 direct shares, market value - $85,101,546

CSX CORPORATION (Corporate Bonds) -

CSX CORP – par value $22,272,000 – market value – $25,228,341 - 6.80% return, maturing 12/01/2028

CSX CORP – par value $35,299,200 – market value – $37,628,500 - 6.22% return, maturing 04/30/2040

CSX CORP – par value $1,920,000 – market value – $2,031,062 – 6.15% return, maturing 05/01/2037

HERTZ GLOBAL HOLDINGS INC – 1,404,911 direct shares, market value – $22,309,987

THE HERTZ CORPORATION (Corporate Bonds) -

HERTZ CORP – par value $554,280 – market value – $568,137 - 8.88% return, maturing 01/01/2014

HERTZ CORP - par value $480,000 – market value – $494,400 - 7.50% return, maturing 10/15/2018

HERTZ CORP - par value $1,920,000 – market value – $1,953,600 - 7.38% return, maturing 01/15/2021

HERTZ CORP - par value $2,400,000 – market value – $2,376,000 - 6.75% return, maturing 04/15/2019

LOEWS CORP – 1,086,790 direct shares, market value – $45,742,991

QINETIQ GROUP PLC – 2,078,385 direct shares, market value – $4,027,451

——————————————————————————————————

Finally, lets see what CalPERS has invested in Goldman Sachs…

——————————————————————————————————

GOLDMAN SACHS GROUP INC 1,489,274 direct shares, market value – $198,207,477

GOLDMAN SACHS – “Corporate Bonds”

GOLDMAN SACHS CAP III – par value $3,620,000 - market value – $2,752,503 - 1.02% return, maturing 09/29/2049

GOLDMAN SACHS GROUP INC – par value $110,400,000 – market value – $108,809,563 - 6.75% return, maturing 10/01/2037

GOLDMAN SACHS GROUP INC – par value $4,800,000 – market value – $5,589,452 - 7.50% return, maturing 02/15/2019

GOLDMAN SACHS GROUP INC  – par value $13,440,000 - market value – $12,763,456 - 5.95% return, maturing 01/15/2027

GOLDMAN SACHS GROUP INC – par value $19,200,000 – market value – $19,281,299 - 6.25% return, maturing 02/01/2041

GOLDMAN SACHS GROUP INC – par value $14,400,000 – market value – $14,788,437 - 5.38% return, maturing 03/15/2020

 ——————————————————————————————————

These direct stock investments, as I’ve covered in depth before, represent a massive controlling stake in the corporate world, both national and international. And equally as relevant to the corporate takeover of the world, we can see that these “alternative” investments and corporate bonds literally give taxpayer money to the private industries that the government is a major or controlling stock owner of.

In other words, the taxpayers are unwittingly contributing to everything they complain about in the corporate world – to everything that is slowly killing their health and their spirit. Food, chemical, pharmaceutical, medical, banking, insurance, real estate, foreign currency, private equity funds, and everything else under the sun.

–=–

What Could Happen?

–=–

To put this into perspective, a horrific thought just occurred to me…

As of this moment, in July of 2012, these pension systems are owned and operated by local, state, federal government municipal corporations, and administered by their corporate boards for what they claim to be “on behalf of the employees” that contribute to them under federal and state pension laws. And like any private pension system out there, these corporations are at risk of bankruptcy, government raids, credit risks, or other purposeful mismanagement’s that might befall the public, government owned and controlled pension system.

So what would happen to all of these direct ownership stock investments in a worse case scenario – if the government decided to raid and kill the pension system all together?

What would happen to those stocks, and what would become of the debt that these private corporations owe the government (the people) if all of a sudden the whole thing came crashing down?

The answer to these questions, in this authors perspective, would be the final nail in the 4-decade long efforts to completely privatize our government. It would mean that those stock certificates that are held by each of these pension funds would either be transferred into private hands, or they would be sold off for pennies on the dollar in a false-flag depression scenario to the worst of either these private corporations or to some other individual or country. In short, it would mean the largest transfer of wealth out of the public’s hands in recorded history, including real estate, foreign currencies, stocks and bonds, precious metals, and the many other assets within.

But that’s not all folks… for all of those corporate bonds would also change hands, being transferred or sold off – possibly to the very private banking institutions that were the beneficiaries of those corporate bond and securities-type loans in the first place. In other words, the debts would never come back to the pensioners/taxpayers that loaned it in the first place (the public), but instead would be paid back by the corporations to the corporations themselves, ultimately equating to a grand theft of massive proportions via the loss to the taxpayers as the corporations pay themselves back for the debt against themselves as owners of their own debt… a paradox, and yet quite reasonable to these organized criminals.

This would be no different than the Public Private Partnerships (PPP) happening all over the country now, where parking garages, toll-roads, bridges, and other public infrastructure has been sold or “privatized” into the hands of banks and other private corporations – who now operate and collect the tolls and taxes for the infrastructure that was built by our forefathers and our children.

One could go crazy thinking about this…

For it would not take much at all to accomplish this feat. For federal pensions, as part of the Executive branch, a simple executive order might be signed by the president directing the liquidation of the pension system to pay for the “national debt”. On the State and local levels, simple bankruptcy proceedings would do the job, and the people and pensioners would be left out in the cold. After all, the taxpayer portion of the pension system is government property.

This extremely viable possibility could easily be implemented as the solution to the reaction to the problem of the lie that is continuously perpetrated on the American public – that the pension system is on a whole entirely underfunded. In two years of looking, I’ve yet to see a pension fund that meets this criteria, per the Comprehensive Annual Financial Report. This lie stems from the actuarial projections (educated and purposefully misleading guess) on the future potential of pension funds. It has nothing to do with reality, and this is easily verified in the CAFR.

The following capital gains for 2010 were stated by the following public pension systems:

New York State Retirement System – $23.3 billion gain in net assets after all benefits paid.

CalPERS – $22.7 billion gain in net assets after all benefits paid.

CalSTRS – $11.3 billion gain in net assets after all benefits paid.

Texas State Teachers Retirement System – $7 billion gain in net assets after all benefits paid.

New York City Retirement – $3.4 billion gain in net assets after all benefits paid.

The pension system is, as you can see here, responsible for globalism at its finest. It is responsible for war, for famine, for disease, and for hunger. The whole world could be fed and clothed 100 times over with just the over $260 billion of investment wealth found in the CalPERS pension fund.

But while the pension system is responsible for these things around the globe, it is the people of America that are responsible for the funding of pension funds. Looking the other way in ignorance and greed must come to an end before the worst happens. The people must take responsibility for their own investment concerns, not relying on government to do it for them. The people must invest in what will benefit all people – from alternative energy to real cures for disease. Personal responsibility is the only solution we the people have left; and if we don’t choose to take responsibility for our own lives, our mother who calls itself government and calls us “customers” and “dependents” will continue down this road until just a few conglomerate corporations remain – as government privatizes and merges its investment held corporate structure into one giant United Nations IMF World Bank holding company.

In the end, I can only ask you to look at this report, and to see where your pension and taxpayer money is being invested… I can only ask:

What will you do tomorrow, knowing that your pension contributions are funding poverty and the the global war machine?

On a mission to document our enslavement to ourselves by our own consent…

.

–Clint Richardson (realitybloger.wordpress.com)
–Tuesday, July 10th, 2012

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43 Comments

  1. Llodrá

     /  July 10, 2012

    If you want, start reading the last paragraphs to get to the point. Then start from the beginning to see how the thoughts end.

    That’s a lot money for nothing…

    Reply
  2. Awesome, Clint! Thank you so much. I will share your work.

    Here’s what I found with California pensions that you’re welcome to add to your kick-assets article:

    The 2011 CA CAFR on pages 234-235 show California pensions cost $27 billion. The $577 billion of cash and investments you brilliantly documented are listed on those same pages as providing $10 billion in income, and having $3 billion in expense.

    But wait, there’s more: page 83 shows the state chooses to “invest” in $92 billion in government debt securities to allegedly earn interest. So to evaluate the total income of the $577 billion toward pensions, we need to also go to page 107 to subtract $6 billion in our own debt cost since our state investors choose to retain $164 billion in state debt while also purchasing other government debt securities.

    That means the total income from our $577 billion in retained cash and investments netted just $1 billion income toward the $27 billion pension cost ($10B gross income minus $3B expenses, minus $6B debt cost equalling $1B net income).

    That’s a return of 0.17% and funds just 4% of pension costs. That’s like taking a million dollars, giving $40,000 to pensions, keeping $960,000 for your own purposes and calling it a “pension fund.”

    Reply
  3. This swindle is dazzlingly deceitful ! I have a blistering feeling that this is just the tip of the proverbial ice burg.

    The fact that our corrupt congress-critters, especially the Ron Paul fraud, continues to lament to the people that America is broke and bankrupt makes me want to scratch both eyes out…They dispel the truth and embrace the lie, leaving the sheep hopelessly swindled.

    What really rocked my day was the insane money these Pension Funds keep “AFTER” they pay out their obligations…. WOW

    Keep this excellent work coming !

    thanks

    Reply
  4. Jasmine

     /  July 10, 2012

    Clint …. well you’ve been very, very busy today. Awesome info and awesome site. I can’t wait to read the rest, and to continue to feed this to everybody I can.

    Reply
  5. Finally someone has done the work and analysis to show what I have always believed was the real truth of why those with money continue to gain not by merit but legal trickery with bought and paid for political help. So easy when they can safely hide behind the corporate walls of enforced secrecy. Now what can we do now as taxpayers to gain direction——I would also like to SUBSCRIBE to this BLOG if possible. (margaretb007@gmail.com)

    Reply
    • Thanks Margaret. I think there is a subscribe or follow button, but I’m pretty ignorant of such things!

      For now, learning to read the CAFR in your State, county, local, and districts is the first step.

      There is much written here in my CAFR SCHOOL blog-posts, as well as in my movies at thecorporationnation.com

      Walter Burien and his TRF are the only solution I can see – the only one that recognizes the problem and attempts to fix it. –> CAFR1.com

      -Clint-

      Reply
      • Andre'

         /  May 29, 2013

        Hello Clint, I appreciate yours and Deanna’s work. I walked to the town hall yesterday and asked for the CAFR, which they promptly brought to me, that was a major first step for me. I said Ill be back. Which one of your CAFR blogs would bring me up to speed fastest on deciphering and “cutting to the chase” so I can start tightening the thumb screws on our reps.

        Reply
        • Try going through this article, which is a breakdown of a City CAFR in Colorado, and see if you can compare the two. If not, we can try something else.

          http://realitybloger.wordpress.com/2011/03/03/cafr-school-a-lesson-in-financial-accounting/

          And here are some general notes I gave to someone else that might help you…

          A few important notes as an introduction to understanding the CAFR:

          1) The CAFR is now uniformly presented in “net assets”, whereas it used to be presented in “gross assets”. This purposeful change was a direct rule from the NGO private associations like Government Accounting Standards Board (GASB), which produce Generally Accepted Accounting Principles (GAAP), and is thus the legal requirement of governments to report in net assets. As with any paycheck you’ve ever received or income tax form you’ve filled out, the importance and monetary difference of net vs. gross receipts is likely not lost on anyone reading this, and it should be noted here that reporting only net assets is just another way that governments hide their true wealth.

          2) Each government has both taxpayer (governmental) operations as well as customer (business-type or non-governmental) enterprise operations running simultaneously. As a taxpayer, your taxes go to pay for services you’d expect like road and building maintenance, snow removal, etc. As a customer, you pay fees for services that are offered by government, such as golf courses, sewer, water, electric, parking structures, ect. This is important to distinguish, as the vote of the public is required for governmental taxation purposes, whereas the vote of the people is not needed for business-type enterprise functions (non-governmental operations) of government.

          3) The “funds” discussed in this CAFR are liquid investment funds of government. These funds are created for two purposes. First, it allows government to designate certain portions of taxpayer money as “restricted”, and therefore it may be placed into one of these investment funds not to be used until needed for a specific purpose. This literally allows government to create its own deficit in the “unrestricted” general fund (the main checking account and investment fund) so that more taxation is needed to have “available funds” to pay for taxpayer services. It is not that the funds aren’t sitting there and available, it is that they are legally restricted from being used for needed taxpayer needs. Secondly, these are investment funds, which allow government to earn a return on its investments while restricting their use for any taxpayer purpose. This whole scheme is for this purpose – to hide real assets while reporting to the people that those assets virtually do not exist as current assets on the budget report. The nature of a “balance sheet” is to create a zero balance with available funds by showing how that money is, was, or will be used. Thus, by prescribing the only available use of taxpayer money as “restricted” to only one purpose (like the future repair or construction of capital assets such as buildings), the general fund may show a negative balance even as millions of dollars sit idol in other investment funds.

          4) Most important to note here is the “creative accounting” of government – the ways in which it hides money from being available to spend today through these investment funds and their restrictions. A good example of this would be a “Debt Service Fund”, which is an investment fund that has the exact legal purpose of paying for or “servicing” future debt payments on bonds and other financial loans and instruments. This means that taxpayer money is first collected, put into the general fund as “unrestricted“, transferred out of the general fund into the debt service fund as “restricted”, and then that money sits there for years and years collecting interest or other capital gains from investments. But more importantly, these liquid assets are specifically designated to paying future debt, and therefore are not counted as a “current asset“. Also, the actual future revenue and taxation collected that will actually pay for these future loan payments and obligations are not being reported to offset the future liabilities. In other words, the government hides current liquid assets by claiming that those current assets are restricted for the purpose of paying future debt, and so does not report those funds as available to be used – not even to instantly pay off all debt. Government is required by its own law to follow the amortization schedule of municipal bonds so as to create a “bond market” that ensures the value of the bond, including the guaranteed interest payments that will be paid every month for up to 30 years. And so the “debt service fund” was created to earn other interest on other investments to pay for the other loan and interest.

          5) Only after all of this creative accounting and transferring of wealth into restricted investment funds is the annual budget report created. Of course, by this time, there are no funds left that aren’t restricted for some other purpose than current taxpayer obligations. Thus, the budget report excludes most of the actual wealth of government simply because that wealth has been “restricted” from being used in the budget. So many of these investments and funds are not reported in the budget report, because the budget report is what the council and city management use to pay for budgetary obligations. Through creative accounting and legal restrictions, the budget report can be made to show a zero or negative balance even while the CAFR shows a very wealthy and positive balance for that government entity. And so the council might vote to raise taxes, fees, fines, etc, for the purposes of “balancing the budget” – to pay for taxpayer obligations that cannot be paid for by restricted fund balances not shown in the budget. This liquid investment wealth is not shown in the budget simply because the council is not allowed to use the “restricted” money shown in the CAFR to balance the budget. And the people of that government are fooled into thinking that the government is broke without ever realizing that the budget is a legally presented lie and omission of the true financial position of that government. The people do not know about and do not understand the CAFR, and so this legally organized crime goes unchecked by the people.

          6) Please note that it has been my experience in 100% of the CAFR’s I’ve examined that any City, County, School District, or State can pay off all debt today and still be in the black with regards to its “investment fund balances”. The only thing preventing this is the law created by the main government, who forces these local governments to invest with the State and Federal pooled investment funds (discussed in CAFR). If this legal bulwark of red tape and legal restrictions were removed by changing the law, there would literally be no public debt left. Most of this debt is from one government borrowing from the other – and often it is from the same government borrowing from itself! Picture this reality as a spider web of intergovernmental debt spanning the whole country. If each government simply paid the other off instead of promoting bonded indebtedness there would be no need for bonds in the first place, and if needed, a bond could be paid back in two years instead of thirty.

          7) The concept of self-funding is very important. If as a government crony I have just earned $100 million dollars, I can simply place that money into a future liability investment fund and suddenly that $100 million shows on my budget report as a 0 balance. Now I can borrow that same money back from myself and show a $100 million deficit while paying back interest on my own money. The interest earned from me paying myself back is the investment “gain” on that liability investment fund. I have just created on paper a $100 million debt out of a $100 million profit, and after the 20 years it will take the taxpayers to pay myself back I’ll earn a 5% interest dividend and return on that self-funded loan and still have the original $100 million to use for some other investment. Some governments are 50-60% self-funded, and some are 100% self-funded. And the people are none the wiser…

          Best of luck!

          -Clint-

          Reply
          • Andre'

             /  June 28, 2013

            So Ive been leafing thru these NY CAFRs. They deliberately make it nearly impossible to understand. They also never list WHO they are investing with, which leads me to – they must have some record somewhere of WHO they invest with and what their returns are. So Im trying to come up with a “cut to the chase” strategy. With a little bit of “theater and drama” and a FOIA or two, I can boiler plate my attack. Because they are so confident, they will either tell me (good) or they wont honor the request (good!) . Now the people I am showing your video to, are completely dumbfounded by the legalese (which is the whole point) they are overwhelmed by these vague innocuous numbers , tho they get the gist of it; they basically dont understand contracting and “agreeing and consent” due to 12 years of public school indoctrination and fluoride. If I dont understand something, because its not concrete and clear, Im not obligated to pay these criminals anything. Especially God damn lawyers, who I NEVER hire. WTF !
            But I am chipping away at it slowly. Ive save your replies on wordpad, and study them. The videos help A LOT. I look up words (we never use in real life) like “disbursement” which is a pay out of some expense. I was going over NY State’s CAFR, and Im seeing multiple billions of something for programs Id never consent to in real life, let alone gambling on Wall St. . My friend on Wall St gives me inside info, like they are now dumping municipal bonds; which he says is a sign something is happening. Maybe they know the “jig is up”. Even if everybody goes broke, these reps will lose their pensions too, because the dollar is worthless paper to begin with. Especially when the hungry homeless mob is crawling in their windows.
            If you need a vice president, let me know except 1) I dont fly 2) wont sit in the white house 3) and wont hire secret service to assassinate me. :-/ I know war strategy (its all a racket) and close combat. First thing we need to do is issue EOs stopping ALL foreclosures/property confiscation (something Ron Paul needs to do) or there will be chaos. Outlaw GMO/genetic engineering. End property/income tax/usury. Ending all SWAT raids for nuisance charges. bring the troops home, close the borders. Keep violent criminals in jail,and show them how to grow their own food if they want to eat. No weights. ETC
            They will kill us, but death will be glorious :-)
            ~A~

            Reply
  6. five words

     /  July 14, 2012

    Are you a US Citizen?
    Do you like trading your time for worthless paper?
    Did you trade your birth right for a bowl of porridge?
    Most 14th amendment corporate plantation slaves may be eligible!
    No PSTMCD required.

    Help Wanted:

    Accountant City of Klamath Falls Finance Department

    Position performs professional accounting work in the maintenance of computerized financial records including, but not limited to, the areas of internal audits, payroll, AP/AR, & financial reports.
    REQUIRED: Minimum 3 years in accounting or equivalent experience. B.S. with an accounting major. CPA preferred. Requires skills in written/ verbal communication, computer literacy, data analysis, time management, resource allocation, project management, problem solving, teamwork and strong interpersonal skills. Desired: Knowledge of GASB statements; municipal accounting; experience in preparation of CAFR; knowledge of Oregon budget law & OMB circular A-133; experience with governmental & Microsoft software applications.
    SALARY: $3,718-5,083/MO, DOE. TO APPLY: Application packets can be obtained from HR at 226 S. 5th Street, 541.883.5317 or http://ci.klamath-falls.or.us/jobs Position is open until filled. First review of applications will be July 25th, 2012. EOE

    Happy Trails, . . .

    Reply
  7. CAFR is the answer to all the posers, preachers, bloggers, big mouths, know it alls etc. I do not come close to measuring the effectiveness of Clint Richardson, he is doing the good work of a hundred men for no pay… His work on CAFR and dozens of other subjects is the example we should all follow. …. CAFR mini groups that find the local hidden money and address the issue locally is what we should all be doing. The reason I haven’t is I live the life of a nomad, I have no home town to address… If and when I lay down roots I intend to do more with that, for now I try to use what skills I have to help drive people to the answer and this indeed the rallying point and smoking gun.

    I will say this, if people form a small group in their municipality to review the CAFR, get some angry home owners over property tax, some teachers who have had their courses cut, laid off workers, an accountant that is a true Patriot, just a half dozen or so, have more than one small group to cross reference findings… and videotape it when you address the issue at the city council meeting, or simply hold a small youtube press conference…. I will either travel to help you with media or edit and upload or anything to assist your effort…. for free… I can simply be a consultant… but anyone who isn’t just a talker and complainer this is where the revolution is.

    Reply
    • Andre'

       /  May 30, 2013

      ” but anyone who isn’t just a talker and complainer this is where the revolution is.” Bingo ! Just by digging I can tell I was making one jewish woman with an attitude, nervous when I started asking for the property tax law, of course they never have the law on hand, I have to go looking for it. I like your ideas Clint. Whats great about this, is they cant force me to contract with them, as I do not contract with corporations, unless there is valid contract between us, and since there isnt, I dont consent. Thanks for the overload of info and input :-) , If you are ever in the NY area, let me know.

      Reply
      • Andre’: those of us working for solutions never attach the CAFR problem (or any other problem) to millions of people not involved who have a particular religion or any other characteristic. The problem-makers/keepers will use your comment to distract from solutions. Problem-makers/keepers will also pay shills to put such comments into our work, and we are also careful to watch for them. Andre’: please do not make our work and you a target by insulting whole categories of human beings. Please stick to the facts and particular people involved; that this person you mention is female, has a religion or not, is of whatever age, whatever ethnicity, whatever sexual preference, etc., are distractions.

        Reply
        • Sorry Carl, but I have to disagree with you here. Just where do you think usury came from man?

          “Our race is the Master Race. We are divine gods on this planet. We are as different from the inferior races as they are from insects. In fact, compared to our race, other races are beasts and animals, cattle at best.

          “Other races are considered as human excrement. Our destiny is to rule over the inferior races. Our earthly kingdom will be ruled by our leader with a rod of iron.

          “The masses will lick our feet and serve us as our slaves.”

          – (Menachem Begin – Israeli Prime Minister 1977-1983)

          “The union which we desire to found will not be a French, English, Irish or German union, but a Jewish one, a Universal one! Other peoples and races are divided into nationalities; we alone have no co-citizens, but exclusively co-religionaries…”.

          “The day is not distant when all the riches and treasures of the earth will become the property of the Children of Israel”.

          – (The Morning Post of London, on Sept. 6, 1920, by James Rothschild III:
          Manifesto to all the Jews of the Universe

          “We Jews continue to be amazed with the ease by which Christian Americans have fallen into our hands. While the naive Americans wait for Khrushchev to bury them, we have taught them to submit to our every demand.”

          – (Mr. Harold Wallace Rosenthal made this statement after admitting Jewish dominance in all significant national programs.)

          “We Jews have put issue upon issue to the American people. Then we promote both sides of the issue as confusion reigns. With their eye’s fixed on the issues, they fail to see who is behind every scene. We Jews toy with the American public as a cat toys with a mouse.”

          “Americans have not had a presidential choice since 1932. Roosevelt was our man; every president since Roosevelt has been our man.”

          – (Harold Wallace Rosenthal)

          “The Jew exhibits far above other peoples, a love of money; and have an instinctive and compelling desire for attaining as much wealth as possible regardless of the means or harm it may cause.”

          “We have infected your churches completely and we now control the school system in the United States.”

          “There is nothing to undo our strategy in the world.”

          “Our forte is division and duplicity.”

          “You can’t compete! More than 12,000 doctors are graduated from medical schools in the United States every year and almost 10,000 of them are Jews. Among the law students the Jewish percentage is even higher. Jews are on such a solid foundation here in the United States that any kind of opposition to our control would only be temporary.”

          “You know we laugh about the six million story.”

          “To answer your question in Russia, there are two distinct governments one visible and the other invisible. The visible is made up of different nationalities, whereas the invisible is composed of ALL JEWS.”

          “The powerful Soviet Secret Police takes its orders from the invisible government. There are about six to seven million Communist in Soviet Russia, 50% are Jews and 50% are gentiles, but the gentiles are not trusted.”

          “Anti-Semitism does not signify opposition to Semitism. There is no such thing.”

          “It is an expression we Jews use effectively as a smear word used to brand as a bigot, like you guys, anyone who brings criticism against Jews. We use it against hate-mongers.”

          –Rosenthal interview.

          So Carl, please don’t count me in as someone who doesn’t talk about all of these very real problems together. I’m not a bigot, nor is Andre, for anti-Semitism does not even apply to these people.

          -Clint-

          Reply
        • Andre'

           /  June 3, 2013

          Carl, I disagree. I live in NY. I have been discriminated by these creeps because I am white, Aryan and non jewish. Ill never make excuses for them or the “good jews” who say nothing, because they benefit by serving the jewish experience and interests; collecting taxes.

          Reply
  8. Andre'

     /  July 1, 2013

    So I went to the local board meeting tonight, and before that, I asked the comptroller, can you show me the property tax law ? This is the 3rd time Ive asked, and its always the run around. He said “Its very complicated” (but Im never daunted) and “Incorrect answer” so now I am starting to dig. I sat thru a little bit but its always about planning some project. I and them are universes apart. they want the corporate world and I want edible landscaping. We were talking about taxes, and I said, “Why am I footing a bill for a sports program, when I dont like sports, when the multibillion dollar sports industry/Wall St should be taxed to finance this entertainment, since they end up recruiting from these schools anyways?”. Of course I always try to make sense, and the logic escapes them. I didnt say “All sports are fixed anyways…” I also brought up us bailing out Wall St, when any of us would have suffered the humiliation of an audit, and strict credit control. “So why are we bailing out Wall St?” The comptroller did say, “Well if Wall St went down, the whole world would crash” and I said “Good!” I also asked if he had the CAFR, he didnt really know what it was, so I basically explained in my limited capacity what Walter, Jerry and Clint have been saying. But he did mention this AUD which is the Annual Update Document, which I think is similar, but he denied them benefiting off of people’s tax money thru investment BUT I listened carefully, and they do get funds from NY State, and the county, that this incorporated municipality is in, does have a CAFR. My opinion is, they can take funds from anywhere and direct them where they want. I just want to do is play music, grow my own food, raise chickens and be left alone. There was other stuff I was saying, before the meeting to a chubby cute lawyer, but they are clueless.
    My grievance is they are foreclosing on homes for taxes and NOT giving back the equity the homeowners put into it. I called it “flat out theft”.. Then we have these “No Knock SWAT raids because some kid sells ONE pill to an undercover narc. I told the lawyer, this is “genocide”. I think we are in too deep. Its such bullshit all around, Clint.

    Reply
  9. Ron

     /  January 27, 2014

    I Read a free book by Mary Elizabeth Croft called How I scammed every cash confiscatory business known to man . She predicted that our pensions would never be paid out.-I am beginning to believe her since I read this article.I am off to get a magnifying gas and look ay my local councils books.

    Reply
    • Andre'

       /  January 27, 2014

      Pensions are in a way “welfare” for the elect. The pensions will be useless when there is no food on the shelves. Or the dollar crashes.

      Reply
    • anne upton

       /  February 4, 2014

      Speaking from UK and signed up to your blog. Thank you for your diligence and devotion in your information seeking, though I suspect that you love doing it!. I am annoyed as I knew about my Strawman and got taken to Court for non-payment of my council tax. I refused to sit in the witness box despite their bullying me with court staff standing close by. I insisted that I stood where I wanted to. They eventually called a short recess and we re-met in the Court room next door ,which I did as I thought that they would say that I hadn’t turned up. I now realise that I should have said that the Magistrates had abandoned the Court and that there was no case to answer. In the next Court room they proceeded to talk over me, even though I quoted the Bill of Rights, even my human rights but they gave me a liability order anyway and if you don’t pay that, they put a charge on your house behind your back. As I thought that would mean that they got the money anyway (with interest) when I sell up, I paid up all but £749.50 – the sum that they can’t bankrupt you over.
      I am going to look at your CAFR info to see if I can work that one out.
      I also use your governed by informed consent when conversing with my MP etc and it makes a difference, so your info does not fall on stoney ground – it is used and thank you again.
      anne upton

      Reply
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