Detroit: The Latest Bankruptcy Lie


In case you haven’t heard, municipal bankruptcy is now all the rage. When smaller municipal corporations (only corporations can declare bankruptcy) had little resistance as test cases for these outrageous claims of fraudulent bankruptcy and default, the larger municipalities gained the confidence that the financially illiterate cesspool of people as citizens don’t know there heads from a hole in the wall when it comes to the financial reporting apparatus of government. The people were determined to be sufficiently ignorant of even the basic checking account balance of the general fund in their local governments and school districts, let alone the massive collective government investment scam robbing them of the entirety of their wealth, making it reasonable to assume that these municipal corporation’s financial position would likely never be challenged by that clueless mass of the indentured. And so the latest trend of conspiracy and fraud against those debt-slaves continues… this time in the not so great City of Detroit.

Considering its checkered past; riddled with the disappearance of industry to U.S. funded infrastructure economies like Mexico and China, it would seem to the average citizen that Detroit should have done this bankruptcy thing long ago. Of course, the fact that it did not declare its bankruptcy at all was because this municipal corporation has never been bankrupt, and certainly is not anywhere near being able to claim that legitimate legal declaration today.

And yet here it is, making that very declaration…

This is very important because the legal statement of bankruptcy means nothing as a mere “declaration” until a government court makes that determination to cause it to be official. Thus, the obvious conspiracy of a government appealing to government to get government permission to default on its debt should not be lost on the reader; though in general this governance of government by government itself seems perfectly normal to most people – a regulatory body operating in a completely unregulated fashion as organized crime. Inherently, of course, this self-governance and self-regulation by government and its BAR judicial is nothing if not a breeding ground for the worst kind of corruption and greed at the expense of the governed. For the people in their state of fear, entertainment, and confusion are certainly not regulating those regulators…

And a corporate judge of the International BAR Association will decide, not the people being defaulted upon.


–=–

ALIPAC printed the following “facts” facts about Detroit that on the surface are absolutely mind-blowing…

1 – Detroit was once the fourth-largest city in the United States, and in 1960 Detroit had the highest per-capita income in the entire nation.
2 – Over the past 60 years, the population of Detroit has fallen by 63 percent.
3 – At this point, approximately 40 percent of all the streetlights in the city don’t work.
4 – Some ambulances in the city of Detroit have been used for so long that they have more than 250,000 miles on them.
5 – 210 of the 317 public parks in the city of Detroit have been permanently closed down.
6 – According to the New York Times, there are now approximately 70,000 abandoned buildings in Detroit.
7 – Approximately one-third of Detroit’s 140 square miles is either vacant or derelict.
8Less than half of the residents of Detroit over the age of 16 are working at this point.
9 – If you can believe it, 60 percent of all children in the city of Detroit are living in poverty.
10 – According to one very shocking report, 47 percent of the residents of Detroit are functionally illiterate.
11 – Today, police solve less than 10 percent of the crimes that are committed in Detroit.
12 – Ten years ago, there were approximately 5,000 police officers in the city of Detroit. Today, there are only about 2,500 and another 100 are scheduled to be eliminated from the force soon.
13 – Due to budget cutbacks, most police stations in Detroit are now closed to the public for 16 hours a day.
14 – The murder rate in Detroit is 11 times higher than it is in New York City.
15 – Crime has gotten so bad in Detroit that even the police are telling people to “enter Detroit at your own risk“.
16 – Right now, the city of Detroit is facing $20 billion in debt and unfunded liabilities. That breaks down to more than $25,000 per resident… As Detroit Emergency Manager Kevyn Orr noted last week, it took a very long time for Detroit to get into this condition…

–=–

Of course, this article like all others doesn’t mention the legal crime operating behind these horrific scenes and reported in the Comprehensive Annual Financial Report (CAFR) – what I have nicknamed the “Achilles Heel” of government. While these facts and figures are certainly important as to the physical state of Detroit, the absence of public information on the actual financial state of that fictional municipal corporation government called “City of Detroit” is never discussed due to the overwhelming lack of exposure and coverage by every news outlet in America about the financial statements required by Federal law for every government entity and corporation in the United States. The greatest open secret in fascist history remains open and secret. In short, these municipalities across the nation in every State have exacted, extorted, and excavated all of the wealth of the people for its organized and collective investment schemes that, not ironically, are only disclosed in the CAFR of government. And collectively the over 230,000 local and state government entities across the nation have been legally required to funnel taxpayer money into investment funds that ultimately never benefit these local or state governments or their people. Instead, they invest in “emerging markets” in countries like Mexico and China  – which soon will become the largest economy in the world thanks to the ignorance of the very citizens of the United States that have no idea this has been happening for over 70 years.

One would in general look at the above factoids about Detroit and justifiably assume that the decaying state of that City is a direct reflection of the similar financial state of the government corporation that controls that area. This, however, is patently false – a fallacy built up through media and political misrepresentation.

The true culprit of that misrepresentation is in the form of the hand selected “budget report” that is delivered to the people publicly each year. The people are never told that this “budget” is actually not the original and main financial statement that is created by governments and audited by independent accounting firms. You see, the budget report is nothing but an intentionally dumbed-down version of the Comprehensive Annual Financial Report (CAFR), which is filed each year as a requirement of the Federal and State legal codes.

What does this mean?

It means that the budget is merely a reflection of what I call the “creative accounting” that is applied to the audited CAFR report so as to make the budget report appear to be in a state of decay, debt, default, and loss. While the CAFR may show assets of millions or billions in cash and investments, the budget report will be creatively manipulated by this special creative accounting process to create an illusionist “balance sheet” that somehow, incredibly, and magically turns an asset into a liability.

Detroit is of course no exception to this rule. For the decaying state of this city has very little to do with the financial state of this municipal corporation. But the fallacy remains that as the city decays so too does the financial state of its government.

Here is a link to the City of Detroit’s 2012 CAFR:

http://www.detroitmi.gov/Portals/0/docs/finance/CAFR/Final%202012%20Detroit%20Financial%20Statements.pdf

**Note that this website takes you to the Detroit government (.gov) website.

While I will not go into the full detail of how this corrupt Municipal Corporation of organized crime has gotten to this point, I will just point out the most important factor in determining whether or not this corporation is actually bankrupt – a factor that I guarantee will be ignored by the government court and bankruptcy judge in this case if the people do not finally rise up and demand that Detroit pay its debt today instead of defaulting on it. That factoid is the promotion of its future debt payments as a current liability effecting today’s balance sheet. The fact is that 99% of the entire structure of municipalities across the nation could be out of debt tomorrow and still have money and investments to spare (be in the black) if it weren’t for the fact that governments enjoy, promote, and profit from the interest (usury) created by debt. In other words, instead of using the money it holds today for services in its investment funds, a government will create a municipal bond and pay that loan off over 20-50 years at interest. Sometimes it is other governments across the nation that are funding those bonds, sometimes banks, and sometimes Public Private Partnerships (PPP) are created in agreement for the loan by private or publicly traded corporations. Ironically, that money that government could have used in lieu of that loan to pay for that service is often invested in such things as corporate bonds – loans to governments, banks, and private and publicly traded corporations. And these bonds are bundled and sold as securities on the bond markets as commodities – debt contracts worth a future value. And the investment scam continues while televisions pump digital airwaves of Stars dancing and Idols singing.

On page 41 of this CAFR we see the illusion blatantly spelled out for us in the basic “Statement of Net Assets”. Of course, this is not the full disclosure of investment fund totals for the City because of other creative accounting within the CAFR designed to minimize those balances shown on this chart, but it shows the scam very well in its full corrupt glory.

The City claims to have over $10.6 billion in liabilities, which it then “balances” against about $10.3 billion in assets. This leaves a “balance” of assets that gets shown to the people of a negative $3oo million dollars.

Just one problem though…

You see, most people would simply consider this balance as the cash balance of the government, having no clue about the investment scam their government has participated in for decades that funnels taxpayer monies out of the taxpayer base and into governments investment funds.

This CAFR is for the 2011-2012 fiscal year, ending June 30,2012.

But it reports for the fiscal year 2012-2013, which will have ended in the month of June this year (2013), the actual current liabilities (due within one year as of June 2012) – which represent debt payments for that fiscal year that would be paid in that 2013 fiscal year ending June 2013. And that “current” debt for the fiscal year only amounts to about $309 million TOTAL.

This means that the other $9.1 billion dollars listed here as “due after one year” is all future debt payments that will basically amount to somewhere around a $300-500 million dollar amortization schedule for the next fiscal year and so on. In other words, for the 2013-2014 fiscal year, Detroit’s actual “current liabilities” are only $300-500 million dollars. The rest of that $9.1 billion still is not due until future payments are made in 5, 10, 20, and up to 50 years in the future!!!

If this is not clear, this means that the over $9 billion in future debt payments to be made has absolutely nothing to do with the financial state of the government today, or even within one year of today.

And yet those payments and future debts are somehow effecting the current balance of today (June 2012)?

Can you say creative accounting?

Can you say FRAUD?

Can you imagine if you told the IRS that you have earned no money this year because you have future debts to pay in 10 years?

You’d go to jail… but this is legal for government!

The trick here is that, as with all municipalities across the nation, by law these governments are able to and encouraged to not include future assets in the form or fees and taxes that will be collected in those future years that will certainly pay for those future debt payments. So here we see that government is claiming a future liability as a current liability, and yet conveniently disregarding the projected future assets it will receive in the future as current assets to balance the future liabilities.

This “creative accounting” trick is used by all governments – BECAUSE IT IS THE RECOMMENDED STANDARD OF PRACTICE BY GOVERNMENT TO FUND THE COLLECTIVE ORGANIZED INVESTMENT SCAM ACROSS THE UNITED STATES!!!

So what is the true financial position of the government of Detroit?

It can pay off, if it chooses to, all of its future debt today with its current assets.

Of course, this would mean that the interest charges on that future debt and bonds would not be accrued in the future and therefore would not be paid out, bringing the actual total liabilities due today (without future interest charges attached) significantly down it total, since by paying off that future debt today no interest would be charged for anywhere from the next 10-50 years.

For an in depth explanation of this creative accounting trick and how you can identify it on your own municipal CAFR, see my research here: https://realitybloger.wordpress.com/2013/02/27/unmasking-the-cafr-scam-in-every-city-usa/

And check this out to see where your tax dollars really go: https://realitybloger.wordpress.com/2012/07/10/cafr-school-how-corporations-are-funded-by-taxpayers/

And so here we stand, another high profile municipality pretending to bite the dust while hiding its real wealth under false accounting principles that are allowed at the very top level of the federal government. Detroit City will act upon the purpose of its incorporation by utilizing the “limited liability” function of that privilege – a privilege once only granted to honorable men who sought to improve and strengthen all men, not just themselves. And this protection of government called incorporation now protects crime instead of the people who are harmed by that crime. For all of government is naught but a limited liability corporation collectively organized in harming the people.

–=–

At this point it has been reported that the Detroit government is tearing down up to 350 abandoned homes and buildings per day in that city. Its plan is to create a “model” Agenda 21 city; a green city; one that is built towards the sky with compartmentalized condo housing instead of sprawling out from its center where land may be enjoyed by single family dwellings. This re-imagining of city life will become a beacon of the future of “smart growth” and the “smart grid”, matching lifestyle and technology to create the perfect Orwellian fit for those who love to love their biometric servitude and love to be on camera. It will be a model city built on retracting individual rights in lieu of the collective good of the citizenry as is laid out in the U.N.’s Declaration of Human Rights that has all but usurped the constitution of the United States – this is the future of Detroit Rock City and likely a city near you…

The economic fallacy that growth equals a good economy ultimately and ironically requires the destruction and pestilence we see in Detroit. And so, in order to grow the new city, the old one must be destroyed to make way for the ever-growing economy. It is in the best interests of the government corporation and its investment scheme for this to happen. And even more frightening to contemplate is that bridges, roads, tunnels, buildings, sewers, water, electrical, and other infrastructure is more profitable in decay for that investment scam than it is as a well-maintained infrastructure. Destruction and decay requires investment and promotes growth. This is the model of government and its “economy”.

Detroit is not bankrupt. It has created the illusion of bankruptcy by such common financial trickery as pension pre-funding – where future debt payments must be paid in advance so that government can invest that taxpayer money instead of using it to fix up the broken City. Congress used this same trick to make it appear that the Federal Post Office is broke, while in really it just created legislation that forced the post office to borrow money from government and corporate sources to pre-fund the Federal Pension funds instead of paying the normal contributions over time. In other words, government is forcing itself to pay future liabilities today – which just happens to have the good-for-government and bad-for-the-people side effect of creating the unnecessary illusion that bankruptcy is needed. And so government is now the largest defaulting entity in history. And the people blindly support what they don’t understand, allowing that fraudulent government machine to place the responsibility for its actions upon the backs of those people in the form of sheer usurious debt, while laughing all the way to the bank.

Imagine such greed and opportunity that would make men in the public trust force the bankruptcy of a city just because they don’t want to wait to receive their pension payments by taxpayers in the future. While this would seem counter-intuitive (destroying a city to support city employee pensions), the truth is that this is just business as usual. For government is not in the business of helping people. It is a financial mega-corporation with branches in every square mile of the United States – with investments in the entire world economy.

How many times do I have to say it…?

Government is nothing but the organization of crime. For a government that creates, adjudicates, enforces, and exempts itself from its own laws is thus lawless – a mafia above its own prescribed laws. When the law is lawless, there is no law.

.

–Clint Richardson (realitybloger.wordpress.com)
–Saturday, July 20th, 2013

Advertisements

Your Taxes Are Already Spent


Is it at all possible for the government to run out of money?

This seems to be the talking point in the media lately, from the financial cliff to the financial crisis to the debt ceiling. And yet, is any of this even close to a reality?

To comprehend this falsely projected fear campaign, we must first understand the difference between today’s “modern” monetary structure and that of what used to be called the “gold standard” model. (Note: gold not necessary – the “standard” happened to be gold, but could have been seashells, sticks, stones, silver, cadmium, playboy magazines, or any animate or inanimate object with intrinsic “value”).

In the yesteryear of gold-backed currency, the government was restricted in its issuance of currency based upon two things:

1) the amount of gold it had acquired (in ounces) and designated to back each physically printed single denomination of note, and

2) the value of each unit of currency ($1 dollar) assigned as collateral for each ounce of gold in holding based on a stable (unchanging) price of gold as set in statute.

In other words, the government technically could not spend money it did not have. As gold reserves increased, more gold-backed currency could be printed.

This is the only reason that I would ever support a “backed” standard currency, though I do not believe gold is the correct form of collateral for currency – for today’s printed dollars are indeed printed with over 261,000,000 ounces of gold as collateral set at a statutory value of $42.2222 dollars. The only difference is that today’s dollars cannot be traded in for that gold, for today’s dollar is considered a “fiat” currency.

On page 62 of the 2010 Federal Government CAFR, we read:

“Gold is valued at the statutory price of $42.2222 per fine troy ounce. The number of fine troy ounces was 261,498,900 as of September 30, 2010, and 2009. The market value of gold on the London Fixing was $1,307 and $996 per fine troy ounce as of September 30, 2010, and 2009, respectively. Gold totaling $11.1 billion as of September 30, 2010, and 2009, was pledged as collateral for gold certificates issued and authorized to the FRBs by the Secretary of the Treasury.

(LINK – http://www.gao.gov/financial/fy2010/10notes.pdf)

Page 453 and 490 of  the 2009 Annual Financial Report of the Federal Reserve (CAFR) also states that this gold is collateral held against Federal Reserve Notes by government.

(LINK – http://www.federalreserve.gov/boarddocs/rptcongress/annual09/pdf/ar09.pdf)

You see, even with our current dollar based on but not redeemable in gold, the monetary system is completely whacked! For it is not the gold that makes the monetary system stable and strong, it is the laws, rules, and men in charge of that system – the congress and its organized criminal creation called the Federal Reserve System. Simply placing gold as collateral for a fiat currency does not make a good currency, even if its value is fixed by statutory law, as stated above at $42.2222 per troy ounce.

A commodity that is unstable in its value, especially one that is fixed daily by the London Fixing in the City of London banking collaboration of Rothschild’s and other banks, is not something I would wish to see backing my currency. A foundation must be strong, non-interpretable, it must retain its value, it must not be able to be manipulated by corporations, it must not be used as collateral for other investments, and it must be stable. A commodity with fluctuating value based on some corrupt banker’s whims is not ideal in any way, but especially when the “gold certificates” that represent the physical gold are traded for their market value of over $15oo, despite the fact that the statutory fixed price of that physical gold is only $42 and 2/9 dollars.

The important aspect of this old monetary system was that government was required to collect money and taxes before it could print money or spend those taxes. In other words, government could not create debt today that would be paid by future taxation or revenue,  because it was necessary to attach gold to the printed gold or silver certificate (dollar).

But all of this has changed in the last 100 years.

We now live in a monetary system that is based upon debt, despite this wealthy collateral.

Whereas before the currency was created after the acquirement of wealth (taxes), today the currency is created before any wealth is created. So, the government spends money before it actually has it, in a system based on future taxation (debt).

Strangely, this means that government is creating new money into the system that is backed only by the pitiful cooperation of the indebted and ignorant people and all their property before the revenue to pay for that money is ever even conceived. For the taxes that will pay for the monies that are being spent today will not be available until the money created today is spent by government . What is not understood, is that this money is not only created at the point of inception of legislative appropriation and debt, but that the money to pay for that creation of money does not exist until it is first created through appropriation, spent, and then re-collected as taxation for this past spending.

This paradox is the norm in government. The government created debt cannot be paid until the money spent to fund that debt by government is issued and circulated. Spending takes place before taxation happens – which simply means that the taxes used to pay that new debt have not been collected yet! This in turn is referred to as the “national debt”.

Perhaps an easy way of looking at this is to say that if government paid off all of its debt yesterday, then all taxation collected today would be purely a surplus in tax revenue, since today’s taxation would not already be spent as debt on past things. So today’s taxation would be unnecessary, and it would sit in an investment fund or account as unappropriated tax until it was needed in the future. And really this would be the ideal governmental disposition – where congress would not spend taxpayer money until it actually had the money to spend – by collecting that tax before it spent money instead of after.

With a gold-standard currency, new spending was dependent upon the acquiring of taxation before that spending took place.

But today, spending happens before taxation is collected.

If we ponder the meaning of this, it breaks the fallacy that taxation pays for government. For government can at any time spend as much or as little as it wishes by creating more debt. And this means also that government cannot and will not ever run out of money if it wished not to. In other words, there is no fiscal cliff. And the only “debt ceiling” is an imaginary line in the sand that can be crossed by government at any time it votes to.

Of course, this also means that the money created by government is purely fictional. By this I mean that money is created out of nothing by a signed appropriations bill by Congress. To this bill is attached a “promise to pay” on behalf of all citizens as taxpayers. And the debt keeps getting higher and higher and higher…

So is there a limit to this debt that can be created by government?

The answer in truth is no, for the “debt ceiling” is again just an imaginary total that can and has been changed to meet new debt. There is certainly no set in stone limit to how much our irresponsible bureaucracy can spend except the statutory restrictions placed by the very body who is appropriating this new debt to be created.

Imagine if your son or daughter had the power to create his or her allowance money by pre-funding their piggy bank… It would go something like this:

Mom, I’m going to take a blank check out of your checkbook so that you can sign it. I’ll be creating future allowance today of $10,000 for which I pledge your future wage earnings to pay that debt back to yourself. Oh, and I’ll be charging you interest for the privilege of allowing me to screw you over and put you in debt. Love ya!

Is this not what government does by creating new money as debt instead of waiting to spend money it earns as revenue through past and current taxation? Is there some reason that the people seem perfectly OK with this insane allowance given to government at the expense of their livelihood? Can someone tell me why these men and women of Congress with child-like mentalities get away with screwing the collective taxpayer base every year for more and more debt?

Seriously though… if your child is misbehaved and irresponsible, the last thing you should do is give him or her an advance on their future allowance. And yet taxpayers allow trillions of their dollars at a time to be spent without government actually earning that money first. And no, extortion is not what I mean by earn!

The reality is that our fiat currency is not based on anything but the good faith and credit of the United States. Of course this should be translated as the people and their collective property and wealth pledged to back the dollar, no matter how many are printed. And more importantly, the gold that is held as collateral for this currency has nothing to do with the assigned value of each unit of currency. So the value of each dollar is not set, which means that at no time can the value of each dollar actually be defined by the collateral held. For instance, with over 261 million troy ounces of gold held as collateral against the printed Fed Res Notes, $1 dollar may be worth $.20 cents one day and then $.15 cents the next compared to the gold held as collateral, because the gold is not the “standard” by which the dollar is based. And so whether there are billions or trillions or quadrillions of dollars in circulation, there is no tangible thing to base the actual value of each dollar.

Why is this important?

Because there is no real limit as to what can be spent by government. If all the money created by government is purely representative of a single object, no matter how much money is created and circulating, then that money has no real value other than the fact that it is ALL based on one single object – in this case a pile of gold and some other listed things.

What does this mean?

If government can create new money as debt based on future taxation, it can just as easily un-create all of its debt based on any reason it wishes.

Let me explain… Since government is the creator of money, it is also the law and rule maker of that money. As far as money creation and destruction goes, government is as God. When government creates money, at no point does that money ever cease to be the property of government. All dollars are property of the United States Mint and are copyrighted as such. So even if you currently have some dollars in your wallet, you are only in possession of those dollars as a user. You have the privilege of being a user of government property just as you have the privilege of paying that money back in taxation. And if you stop and consider for a moment, you realize that for every dollar printed by government, that dollar by necessity must eventually be paid back to government through taxation to pay for the creation of that dollar. You only have it on loan as an IOU. The “national debt” is just that – all money formally created that must be paid back with interest to the very government who created it – even if that money hasn’t been created yet!

In case you missed the point here, this means that government is in debt to nobody but itself.

Yes, that means that government is borrowing from itself too. It funds its own debt.

Now if I was to borrow money from myself I could do one of two things: I could create a chaotic system of debt and credit to pay myself back the money I owe to myself while charging myself interest that I can probably never pay back in my lifetime, or I can simply forgive myself of that debt that I created in the first place for myself and never go back into debt again… because I have plenty of money to never need to create more debt with what I already gave to myself.

So let’s ask the obvious question: if government defaults on its own self-created debt, how can this possibly harm anyone at all?

Answer: It can’t!

After all, government did not go out and get credit from some other entity in order to create its own money. That’s ridiculous! The maker of money (God) doesn’t need permission to create money, nor does it need to borrow from anyone else to create its own currency. Remember, it owns all currency no matter who is holding it. And it can call in that currency any time it wishes, which is why it can be taken right out of your bank account at any time. Banks are simple whores of the Federal Reserve System, who are allowed to also create government money out of the ether under Federal Reserve rules. This is why banks join the Federal Reserve. For without this privilege of money creation, banks could not make loans. They cannot loan the money in other peoples accounts because that money is a liability to the bank. Banks only risk money that is not their own, and government allows them to do so through the Federal Reserve.

So if government were to write off $7 trillion dollars in public debt tomorrow, as well as to put a halt to the interest and Seigniorage charged on the creation of its own currency, would this in anyway effect “creditors”? Would this act harm any other entities that may be holding the government’s debt?

The answer is a surprising one.

Let’s see who is holding the debt of government…

Listed as the #1 holder of government debt, just as Walter Burien of CAFR1.com has been proclaiming for 20 years… The U.S. Government! Here listed as:

1. Federal Reserve and Intragovernmental Holdings

Total U.S. debt holdings: $6.328 trillion

(From the article)

“That’s right, the biggest single holder of U.S. government debt is the Federal Reserve system. The Fed’s system of banks and other U.S. intragovernmental holdings accounted for a stunning $6.328 trillion in U.S. Treasury debt in Sepetember 2011 (the most recent number available). The amount is an all-time high as the Federal Reserve continues to expand its balance sheet, partially to purchase U.S. government debt securities.

“About a decade ago, the total government holdings were “only” $2.5 trillion.”

.

7. State and Local Governments

U.S. debt holdings: $484.4 billion

(From the article)

“U.S. state and local governments have nearly a half-trillion dollars invested in American debt, according to the Federal Reserve. The level of investment has remained stable since 2006, moving within the range of $484 billion and $576 billion. The current debt holdings, however, represent the lowest aggregate level for state and local governments since December 2005, when they stood at $481.4 billion.”

This info taken from my previous article here: https://realitybloger.wordpress.com/2012/02/02/u-s-government-in-debt-to-itself/

Oh, so the Federal Reserve is holding the debt of the United States government?

But wait a minute, the Federal Reserve is the United States government!!!

Of course the mythology surrounding the origins and nature of just what the Federal Reserve is has created a fallacy from within the population that the Fed is somehow not a government entity. Of course, this is absolutely absurd when you do just a token bit of research about the Federal Reserve and how it was created. Yet the fallacy persists despite the fact that the Federal Reserve was created by Congress and can at any time be ended by Congress. I have written extensively on this subject, and for those who base their beliefs about the Federal Reserve on what they’ve heard around the way, I suggest you correct your mistake. For government wishes nothing more than for you to think that the Federal Reserve is not part of government, and that government owes the Federal Reserve all this money listed above. This is nothing but slight of hand, proven in triplicate through my previous research (2 links):

LINK –>https://realitybloger.wordpress.com/2012/09/01/todays-creatures-from-jekyll-island/

LINK –>https://realitybloger.wordpress.com/2012/06/23/the-incontrovertible-conundrum-of-dr-ron-paul/

Once we understand that the Federal Reserve is just a sub-corporation of the main United States corporation, we understand that government is funding its own debt – meaning that it owes money to nobody but itself – which means it owes money to nobody but uses this scam to fool the people into an illusion of indebtedness.

The creator of money can simply un-create the debt attached to that money; and the only victim would be government itself and its embezzlement scheme to acquire higher and higher tax revenues to pay a debt that for all intents and purposes does not actually exist.

The purpose of this rant is simply to put an end to the fallacy that a government as powerful as ours can possibly be in debt, especially to itself. The power of money creation is both the disease and the cure for this debt issue, and the solution is as simple as writing off that portion of the debt that is self-funded. While we did not cover other debt holders, we must consider that all municipal cities, counties, districts, and states are also all holders of Federal debt. Public pension funds as “institutional holders” of debt are also a large part of this equation, with debt holding in the 100’s of billions. And this leaves a fractionally small portion of debt that is held by foreign governments, most of which are heavily built up by American investments in their infrastructure and manufacturing base.

The reality is that most of this debt can be disappeared as easily as it was created. For most of this debt has never even been represented by physical dollar bills. Most of it is purely a fictional digital entry in some financial database somewhere. A beam of negative energy scaler or a an EMP pulse would easily wipe out all records of these digital transactions just as easily as an action by Congress and the president. (Yes, I’m a Fight Club fan!)

But unfortunately, the reality as well is that the people will continue to pay their taxes to support more and more debt money created by a purposefully irresponsible government. And ironically, they will do so without ever realizing that the money they spend in taxation today will be used to pay for the spending of the past, without any hope for the future.

.

–Clint Richardson (Realitybloger.wordpress.com)
–Tuesday, April 23, 2013

CAFR SCHOOL: The Vatican Is Broke?


In a small blurb on a back page of the Salt Lake Tribune was this little gem of a story, referencing a recent Associated Press article. I laughed out loud when I read it, and I think you will too…

Link–> http://www.sltrib.com/sltrib/world/54456425-68/vatican-million-euro-deficit.html.csp

–=–

Vatican posts $19 million deficit, worst in years
By NICOLE WINFIELD
The Associated Press
.
First Published Jul 09 2012 01:28 pm • Last Updated Jul 10 2012 12:17 am

“Vatican City • The Vatican has registered one of its worst budget deficits in years, plunging back into the red with a (euro) 15 million ($19 million) deficit in 2011 after a brief respite of profit.

The Vatican on Thursday blamed the poor outcome on high personnel and communications costs and adverse market conditions, particularly for its real estate holdings.

Not even a (euro) 50 million gift to the pope from the Vatican bank and increased donations from dioceses and religious orders could offset the expenses and poor investment returns, the Vatican said in its annual financial report…”

–=–

Note here that we can all learn from this official statement from the Vatican in a big way. For this is exactly the same scam that all governments are claiming around the country, some even now in bankruptcy proceedings. So let’s list these similarities:

1) The Vatican is a corporation, as is each individual and Federal government entity.

2) The Vatican and government operate both in the non-profit and for-profit realm.

3) Both have an Annual Financial Report, and both have a budget report.

4) Both the Vatican and the Government have real estate holdings, as well as stock investments, foreign currency holdings, and both invest heavily into the world-wide corporate structure and fund its liquidity.

5) Both promote their debt, while hiding their investment asset balances.

6) Both have a central bank, which bails it out in moments of need, and then expects Catholics/taxpayers to pay the bill despite its liquid investment holdings.

7) Both openly lie by omission to the people of Earth, while in a position of trust, referring to a deficit while completely ignoring its investment holdings – as if these fund balances don’t even exist.

8) Both use the “depreciation” of capital assets (land holdings, buildings, etc.) to show on their financial reports a liability against other assets, in order to decrease reportable value of these investment assets.

9) Both create budgets that are falsely imploded with such things as future liabilities so as to justify its raising of taxes and its request for tithing.

10) Both create separate sub-corporations with their own financial statements as for-profit entities, but do not use those profits for the benefit of the people.

11) Both call the people “customers”, not people.

12) Both lay off employees with the excuse of budget shortfalls, still not dipping into their vast trillions in liquid investment capital.

13) AND BOTH OWN AND CONTROL THE MEDIA THROUGH STOCK INVESTMENT AND COERCION, AND USE IT TO HIDE ALL OF THIS FROM THE PEOPLE BY KEEPING THEM ENTERTAINED WITH EVERYTHING BUT THIS INFORMATION.

In this truly ironic statement by the Vatican we can see perhaps the best example ever of how a government corporation lies by the act of utter and ridiculous disassociation and nondisclosure of its true wealth. And yes, the Vatican is a corporation, and it is the government of Vatican City – as a “nation state”. It just happens to call itself a church.

Associated Press story continued…

–=–

“The Vatican said it ran a (euro) 14.9 million deficit in 2011 after posting a surplus of (euro) 9.85 million in 2010. The 2010 surplus, however, was something of an anomaly. In 2009 the Vatican ran a deficit of (euro) 4.01 million, in 2008 the deficit was (euro) 0.9 million and in 2007 it was nearly (euro) 9.1 million.

The Vatican city state, which mainly manages the Vatican Museums and is a separate and autonomous administration, managed a budget surplus of (euro) 21.8 million. That’s largely due to a spike in revenue from the museums: More than five million people visited the Sistine Chapel and other works of art in the Vatican museums last year, bringing in (euro) 91.3 million in 2011 compared to (euro) 82.4 million a year earlier.

And the Vatican could also cheer that donations from the faithful were also up last year despite the global economic crisis: Donations from Peter’s Pence, which are donations from the faithful to support the pope’s charity works, rose from $67.7 million in 2010 to $69.7 million last year. That money, however, doesn’t figure into the Vatican’s operating budget, though contributions from dioceses, religious orders and the Vatican bank do.

The Vatican bank, known as the Institute for Religious Works, is able to make such a big contribution to the Vatican’s budget each year based on investments.

Draining the Vatican’s finances were the high costs for its main job of spreading the faith via Vatican media: Vatican Radio, the Vatican newspaper L’Osservatore Romano and Vatican television all have significant expenses and little or nothing in the way of revenue. Vatican Radio, however, is expected to save hundreds of thousands of euros a year in energy costs each year after it cut back short and medium-wave transmissions to Europe and the United States from its main transmission point in Rome.

The Rev. Federico Lombardi, who runs the Vatican radio and television departments and is also the Vatican spokesman, stressed that layoffs among the 2,832 Holy See personnel aren’t in the offing, although he acknowledged that savings must come from elsewhere.

During the meeting of cardinals who oversee the Vatican’s finances this week, he said, there was a “request for prudence and savings.”

“I’m not an expert,” he said of the deficit. “Yes, it’s bigger than in past years, it’s true.” But he noted that the amounts on a global scale aren’t alarming. “Certainly they indicate a need to pay attention and see the criteria the Vatican’s assets are administered.”

–END ARTICLE

–=–

I’ve written extensively on the trillions in government investments that are covered up in the same way and completely ignored on the budget report while being reported on the Comprehensive Annual Financial Report (CAFR).

The Vatican is no different. In fact, it is the extreme example of the government (nation state) hoarding of wealth that would benefit the people of the world.

Think about it for a moment…

Just one of the thousands upon thousands of artifacts, paintings, sculptures, precious metal coins and treasures, and every other trinket and parchment of knowledge that the Vatican holds within its bowels – just the value of one of those literally priceless artifacts could feed the entire world, let alone cover a 16 million euro deficit in the selectively presented budget report of the Vatican politicians.

And so, I’ve come up with a few propaganda slogans that I think might help the Pope, the Black Pope, and his financial officers continue to fool the useful idiots that keep donating to this massive for profit country called the Vatican…

–=–

“We can’t sell our assets. They are priceless.
There is not enough money in the world to buy just one.
Therefore, we are declaring bankruptcy.”

–=–

“The Saints organized a union,
and they are demanding health benefits.
Please give.”

–=–

“Where in God’s name did I put my savings account?”

–=–

“I’m sorry, but God just called.
He says we’re broke.

–=–

I could go on… and on and on and on… but you get the point. The organization of corporate religion is not a Christian one. And the Vatican is a corporate camel with no chance of fitting through even the largest gauge needle.

In the end, if you understand what has been written here, then you understand the entirety of the government investment scheme. And you understand that the people of America are wealthy beyond imagination, but that wealth is being hidden in plain sight while government creates welfare programs to sustain the poverty level while collecting even more taxes from the poor – never fixing the very problem of poverty because that is the only thing that will create wealthy men and corporations.

Welcome to America… a potential heaven on earth, kept in purgatory by government obfuscation and hoarding of its actual wealth.

.

–Clint Richardson (realitybloger.wordpress.com)
–Friday, July 13, 2012

Dear Matt Damon…


Dear Matt Damon,

First of all, let me just say that I have enjoyed your work in various movies over the years. And congratulations on all of your success, both popularly and especially financially. But I want to talk specifically to you about one of your rolls, as the voice-over talent for the recent documentary movie entitled “Inside Job”.

Again, well done sir. This was a very well presented documentary on corruption most foul within the banking industry and in the United States government. But to be honest Matt, I have never seen a more well-done and yet totally incomplete presentation of the facts about such an important event in our nations history. In short, you were the narrator of one of the biggest propaganda pieces in history, and I was wondering how that feels…

You see Matt, I figure that your participation in this thing can only be explained by two possibilities:

1) You were just reading a script, and really don’t comprehend what was truly happening outside of what that script stated within the government and banking industry. And you thought you were truly part of something quite special.

2) You were fully aware of your participation in a government cover-up of the most important aspects of what really happened during this period of organized crime, and you were rewarded handsomely for your popularity and participation in this totally incomplete propaganda piece.

Now, I see that you are supportive of many charities and organizations around the world, and that pleases me as one of your fans. And so I am writing you this letter to let you know that I want to give you the benefit of the doubt with regards to your participation in this misleading documentary. I truly believe that you were doing what you thought was best (and I’m sure the paycheck wasn’t too bad either).

But if this assumption is true, I am wondering what you would do if you found out that you were unwittingly part of a massive misinformation campaign designed to obfuscate the most important aspects of this criminal event. Would you seek to publicly rectify the situation if you saw the proof that “Inside Job” was just a half-truth, designed to allow the very government who has ravished the third-world you are so desperately trying to help through your charities and support, get away with the financial crime of the century? Have you made enough millions yet that you would be willing to sacrifice your future movie career to truly educate humanity about the real Inside Job that took place and how it is directly responsible for the poverty and destitution that you publicly rally against?

As a fan, I’d like to know the answer to these questions…

So Matt, if you will indulge me for just 15 more minutes, I’d like to explain a few things to you, so that you might publicly address the true nature of the so-called financial collapse of 2007-2008 with a fully informed head. For that, I’ve prepared this video, which is just a short snip-it of a 4-hour documentary that I made on the same subject. Please know that this movie cost me nothing to make – except my valuable personal time – and is offered for free to the public without charge. I’m not selling anything. You see, it doesn’t take 20 million dollars to uncover the truth… not like the budget for “Inside Job”, just a deep passion for the truth and a hell of a lot of research.

Now, if you will, please view this 15 minute excerpt from this free movie, The Great Pension Fund Hoax:

So as you can see, Matt, Inside Job failed to mention the most important information for the comprehension of this whole Ponzi scheme – the fact that government had massive controlling stock investments in these banks, investment corporations, mortgage corporations, and bail-out receivers. In other words, the financial collapse of these corporations was not a collapse at all, but was instead a merger of government investment held and owned corporations through what is called “corporate governance”, as well as the complete and utter theft of billions and billions of dollars from the public. This term, corporate governance, was even mentioned once to my surprise in the movie – but with no explanation of what it actually means.

Again, now that you have received this holy grail of comprehension with regards to your documentary’s cover-up, and now that you can see the true nature of government’s complete conflict of interest as major share-holder of every major and important corporation on the planet – while also regulating the markets and industries those investment held banks and corporations operate under (including the major water companies like Nestle, Coca-cola, and Pepsi that are stealing all of the clean water from the African children you are banging your head against the wall trying to help) – what are you going to do about it?

What will you do…?

I mean, considering that the government also has major controlling shares in the very media industry that has made you such a wealthy and popular icon, do you have the integrity to stand up against the hand that feeds you in order to set into motion the necessary public comprehension that is needed to truly save the world from this organized propaganda and government-military industrial machine?

By the way, here are the investments in media companies, if you can spare another 10 minutes:

So what’s it gonna be, Matt?

Will you be the hero of our generation, exposing this truth to millions?

Or will you continue to support the very government corporate owned structure that is killing the families you’re trying to protect in your charitable organizations?

The choice… and the consequence of inaction is now yours, Matt. Because now you know.

Signed, a fan that hopes #1 is the answer you seek to rectify,

–Clint Richardson–

.

Watch the full movie here: http://www.youtube.com/watch?v=fhkWueEjewM

.

–Clint Richardson (realitybloger.wordpress.com)
–Thursday, March 22, 2012

U.S. Government In Debt To Itself


In a rare show of slightly skewed honesty, the folks at CNBC came out with a report today highlighting the United States’ debt and who actually owns that debt.

Link: http://finance.yahoo.com/news/biggest-holders-of-us-gov-t-debt.html\

Though written in the guise of their typical “10 Best Cities To Get A Job” or “10 Most Beautiful Beaches In The World” format, finally a little bit of truth is coming out of the mainstream about government finance!

Today’s episode: “The 10 Biggest Holders Of  U.S. Debt”.

Listed as the #1 holder of government debt, just as Walter Burien of CAFR1.com has been proclaiming for 20 years… The U.S. Government! Here listed as:

1. Federal Reserve and Intragovernmental Holdings

Total U.S. debt holdings: $6.328 trillion

(From the article)

“That’s right, the biggest single holder of U.S. government debt is the Federal Reserve system. The Fed’s system of banks and other U.S. intragovernmental holdings accounted for a stunning $6.328 trillion in U.S. Treasury debt in Spetember 2011 (the most recent number available). The amount is an all-time high as the Federal Reserve continues to expand its balance sheet, partially to purchase U.S. government debt securities.

“About a decade ago, the total government holdings were “only” $2.5 trillion.”

So, the U.S. Government is in debt primarily to… itself?

Hmmm. As Mr. Burien has been trying to bring forward into the comprehension of the American and international people for many years, this is the sobering truth. And as many people are just begining to wake up to Walter Burien’s tireless work on exposing the Comprehensive Annual Financial Report (CAFR) system of general accounting for all corporations, including the over 230,000 individual governments listed within the April 1, 2000 government census report, this fact is quite verifiable – as the CAFR is the audit of government.

But wait, can a government really be in debt to itself?

Well, can you? Can you tell the IRS, for instance, that you borrowed money from your checking account and placed it into your savings account and therefore have no money available to pay the IRS because your checking account balance is at a negative balance because you owe your savings account money from your checking account (while gaining interest on that savings account in the mean time)?

No, you can’t…

But the question is, can government be in debt to itself?

Of course it can. For government makes its own rules. That’s the golden rule after all… He who holds the gold, makes the rules. And in this case, those who make the rules certainly hold most of the gold.

In fact, as shown in the 2010 CAFR for the Federal Reserve (fiscal year ending December 31, 2009), over $47 billion dollars was collected from the American people that year, every cent of which was placed into the accounts of the United States Treasury. And over the life of the Federal Reserve, over $687.6 billion dollars has been paid by the Federal Reserve to the U.S. Treasury in the form of “Interest On Federal Reserve Notes”. And would you have ever guessed that the U.S. Treasury is holding over 261 million troy ounces of gold – which is listed as “collateral” for Federal Reserve Notes in the Federal reserve CAFR?

You can only find this type of information in the audit of government – the Comprehensive Annual Financial Report.

I mention this mostly to dispel the popular fallacy that the Federal Reserve is somehow an autonomous agency without any ties to the Federal Government. This simply is not true. It is federal law that all government agencies file a CAFR each year, of which the Federal Reserve has been filing since this laws’ inception. The Audit of the Federal Reserve System can be found here:

Audit (CAFR) of the Federal Reserve Board Of Governors – Link: http://www.federalreserve.gov/publications/annual-report/default.htm

Audit (CAFR) of each individual Federal Reserve Branch Bank – Link: http://www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm

The term intragovernmental is a term used to describe the investment fund structure of all of these over 230,000 government municipal corporation (city/county), state, and federal corporate governments. As a standard of practice, these local, county, and district governments place their taxpayer money into what is called the State Treasurer’s Investment Funds (commingled funds), which are generally managed by the State Treasurer as trustee of those funds. The average daily balance of those funds is then invested into the bonded indebtedness of the United States governmental structure, called the U.S. Debt. These funds generally invest into such things as Federal securities, commercial paper, national/international banking institutions, municipal and federal bonds and warrants, and other forms of indebtedness, gaining interest and dividends from those investments. States hold these funds with the permission of Federal US CODE. And one government makes a profit from another government via interest payments on these bonds – which is paid via taxation on the people.

For more information on these state “commingled funds”, please see my video here explaining the over $64 billion California State Treasurers Investment Fund:

And of course, it is perfectly legal to write off the majority of this debt at any time the government sees fit, according to US CODE which houses the amended FEDERAL RESERVE ACT.

Also, we can’t forget the humongous $2.6 trillion Social Security Trust Fund investments into this U.S. debt either.

See more on the Social Security Trust Funds here:

Link: https://realitybloger.wordpress.com/2012/01/27/social-security-trust-fund-tops-2-6-trillion/

But let’s take a look at some of the other holders of U.S. debt…

3. Other Investors/Savings Bonds

U.S. debt holdings $1.107 trillion

(From the article)

“With the most recent numbers from June 2011, this extremely diverse group includes individuals, government-sponsored enterprises, brokers and dealers, bank personal trusts, estates, savings bonds, corporate and noncorporate businesses for a total of $1.107 trillion.

“Although the level of debt held in U.S. savings bonds has remained basically constant since 2000, the broad category of “other” investors has nearly quadrupled since reaching a four-year low in December 2007.”

Note here that this group includes “government -sponsored enterprises”. Of course, this report doesn’t tell you that the vast majority of investment wealth that sits in these other funds like “individuals (corporate persons), brokers and dealers, bank personal trusts, and corporate and noncorporate businesses” is funded by government taxpayer money.

And the corporations/businesses that are listed here, when we understand that collectively the over 230,000 governments hold together majority stock ownership in all major corporations in the world through pension and other trust fund investment and are the main investors in savings bonds and other debt, this “category” is a very deceiving look into who actually holds and more importantly controls these savings bonds and investors through “corporate governance”.

5. Pension Funds

U.S. debt holdings: $842.2 billion

(From the article)

“Pension funds control large amounts of money, reserved for personal retirements, and thus are obligated to make relatively safe investments. This group, which includes private and local government pension funds, holds $842.2 billion in U.S. debt. The private pension fund category also includes U.S. Treasury securities held by the Federal Employees Retirement System Thrift Savings Plan G Fund.”

And so here again, because pension funds are mostly government controlled, and because the private/publicly traded corporations that have pension funds are held by government stock investment as their majority stake holders and vote through proxy shareholder voting rights on all that happens within these “private” and “public” corporations, government once again is in reality the holder of its own debt.

See “The Great Pension Fund Hoax” for a complete breakdown of the pension fund system, here:

6. Mutual Funds

U.S. debt holdings: $653.5 billion

(From the article)

“According to the Federal Reserve, mutual funds hold the sixth-largest amount of U.S. debt compared to any other group, although mutual fund holdings have diminished by more than $105 billion since December 2008. Including money market funds, mutual funds and closed-end funds, this group of investments managed about $653.5 billion in U.S. Treasury securities as of June 2011, which are the most recent numbers available.”

And here again, as with U.S. Savings Bonds, we find that the main holder of investments in mutual funds is indeed the government pension fund system listed above. Funds like Blackrock, Vanguard, and State  Street Corporation are always in the top holdings of government, especially in the pension system. (See: The Great Pension Fund Hoax for sources).

7. State and Local Governments

U.S. debt holdings: $484.4 billion

(From the article)

“U.S. state and local governments have nearly a half-trillion dollars invested in American debt, according to the Federal Reserve. The level of investment has remained stable since 2006, moving within the range of $484 billion and $576 billion. The current debt holdings, however, represent the lowest aggregate level for state and local governments since December 2005, when they stood at $481.4 billion.”

To reenforce the fact that government is the main share holders of U.S. Debt securities, CNBC lists State and Local governments to the list. Again, through the commingled funds discussed earlier and as listed within all of the CAFR reports of local and state governments, we see that these government/municipal corporations are indeed the holder of vast amounts of public debt.

And remember, government charges the taxpayers with the responsibility for this debt, while it uses that wealth to purchase everything in sight! So government is in truth collecting interest and capital gains (tax free, of course) as well as dividends on the money that it borrows… from itself!!! The people pay their taxes in order to pay this interest, which is in reality a “profit” for the so-called “non-profit” government. It’s really a win-win situation for government investment funds.

9. Depository Institutions

U.S. debt holdings: $284.5 billion

(From the article)

“As of June 2011 (the most recent numbers available), the Federal Reserve Board of Governors lists depository institutions as holding about $284.5 billion in U.S. debt.

“This group includes commercial banks, savings banks and credit unions. In 2011, its holdings more than tripled from the 2008 low of $105 billion. Between June and September 2011, holdings for depository institutions fell by nearly $44 billion.”

10. Insurance Companies

U.S. debt holdings: $250.1 billion

(From the article)

“According to the Federal Reserve Board of Governors, insurance companies hold $250.1 billion in Treasury securities. This group includes property-casualty and life insurance firms.”

Once again CNBC reports that – according to the Federal Reserve System – banks, financial institutions and insurance companies are a large shareholder of U.S. government debt instruments and securities.

But once again we must realize that the main stockholder of these publicly traded banks and insurance corporations is in fact government itself, through its pension fund and other trust and investment funds.

For example, as of March 31, 2010, just the “New York State And Local Retirement System” pension fund held the following shares in banks and investment corporations:

Company                                      Shares of Stock           Market Value

Morgan Stanley                              4,301,770                   97,951,303
Goldman Sachs Group Inc/The   1,961,585                207,967,242
Goldman Sachs Ssga Em Mrkts  8,934,287                102,501,423
Wells Fargo & Company             16,257,120                 231,501,389
Bank of America Corp                 23,819,237                 162,447,196
Citigroup Inc                                 18,601,505                  47,061,808
Citigroup Inc Depository Shares    199,368                    3,046,343
American Express Company       4,249,664                  57,922,920
American Financial Group Inc       492,854                    7,910,307
Visa Inc – Class A                              390,400                 21,706,240
Mastercard Inc – Class A                 306,830                 51,387,888
Zions BanCorp                                   558,029                   5,485,425
Fifth Third Bancorp                       2,678,672                    7,821,722
Fannie Mae                                             6,000                           4,200
Freddie Mac                                            6,100                            4,636
Hartford Financ Serv Grp Inc      1,099,070                   8,627,700
Hudson City Bancorp Inc             2,946,851                 34,448,688
Western Union Company             2,656,147                  33,387,768
Siemens AG                                         757,252                  43,473,647
Experian Group Ltd                        1,034,174                    6,474,091
Equifax Inc                                           626,161                  15,309,636
Equinix Inc                                             13,800                       774,870
State Street Corp                             1,867,120                  57,469,954
People’s United Financial Inc      1,234,207                  22,178,700
Fidelity Nat Financial Inc – Cls A  839,867                  16,385,805
Fidelity Nat Info Services Inc          657,748                   11,971,014
Westpac Banking Corp                     298,305                   3,956,638
Axis Bank Ltd                                      191,458                     1,565,891
Discover Financial Services          1,874,548                  11,828,398
Softbank Corp                                 3,664,300                 46,596,748
Solera Holdings Inc                           556,652                  13,793,837
Signature Bank                                   210,333                    5,937,701
HSBC Holdings plc                        8,349,382                  47,271,967
HSBC Holdings plc                        1,389,200                    7,645,081
HSBC Holdings plc – Rights            893,766                   1,806,322
Royal Bank of Canada                       169,300                   4,949,214
Royal Bank of Scotland                 6,330,271                   2,223,006
Royal Bank of Scotland, Rights   6,427,941                                 -0-
Allied Irish Banks                            1,216,447                      969,046
National Australia Bank                1,406,252                 19,638,984
Aust & New Zealand Bank Group   701,045                    7,671,606
Commonwealth Bank of Australia    19,794                       477,637
National Bank of Canada                  161,300                    5,161,497
National Bank of Greece                  102,386                     1,551,051
Deutsche Bank AG – ADR                    9,800                      398,370
Deutsche Bank AG – Registered     654,969                26,888,105
Credit Suisse Group                        1,174,244                 35,793,762
Credit Suisse Group – Spons ADR         300                           9,147
Bank Montreal Quebec                     428,291                  11,230,235
Bank Mutual Corp                               94,860                       859,432
Bank of Baroda                                   542,734                   2,506,942
Bank of Communications             1,376,000                       955,210
Bank of Cyprus Ltd                              51,909                        157,826
Bank of East Asia                           2,605,019                    5,028,527
Bank of Hawaii Corp                         192,499                    6,348,617
Bank of India                                      934,270                   4,040,186
Bank of New York Mellon Corp  4,420,585                124,881,526
Credit Agricole S.A.                            311,625                    3,439,044
Credit Saison Company                       14,918                        144,241
Bank of Nova Scotia                          149,900                     3,701,779
First Bancorp Puerto Rico                143,010                       609,223
Bank Yokohama Ltd Japan Ord     903,100                    3,821,968
Hiroshima Bank Ltd/The                   13,000                         49,357
Bank of Kyoto Ltd/The                       73,000                       614,924
Osaka Gas Company Ltd               2,035,146                   6,346,309
Bank of China Ltd – H                   8,527,000                   2,827,663
Ind Comm Bank of China Ltd      4,464,000                   2,321,280
China Citic Bank – H                        484,000                       182,983
China Construction Bank – H      4,331,000                   2,458,890
China Merchants Bank – H             283,000                      494,428
Shizuoka Bank                                    183,000                    1,637,866
Shinsei Bank Ltd                             1,450,154                     1,453,531
Chiba Bank                                          176,500                       866,685
Cheung Kong (Holdings)              3,376,000                  29,077,161
Hang Seng Bank Ltd                         328,500                    3,308,313
Hanmi Financial Corp                        55,300                           71,890
Mitsubishi UFJ Financial Grp     6,409,847                 30,890,829
Mitsubishi UFJ Lease & Fin Co Ltd    1,600                          33,370
Bangkok Bank                                    554,400                      1,172,424
Bangkok Bank Public Co Ltd          446,200                         937,316
Siam Comm Bank Public Co Ltd    376,900                         579,192
Malayan Banking Berhad                802,525                         849,745
Malayan Banking Berhad – Rights  361,136                                 -0-
Blackrock Inc                                           7,135                         927,835
Blackstone Group Lp/The             1,289,215                     9,346,809
Zurich Financial Services                      9,387                     1,486,829
Aetna Inc                                           1,881,924                   45,787,211
Cincinnati Financial Corp                 736,150                   16,835,751
First American Corp                           496,770                  13,169,373
First Bancorp Puerto Rico                 143,010                       609,223
First Cash Financial Services Inc      48,800                       728,096
First Commonwealth Finan Corp   394,940                     3,503,118
First Financial – 144A GDR                 48,113                       444,083
First Financial Bancorp                        62,100                       591,813
First Financial Bankshares Inc           54,475                    2,624,061
First Financial Holding Company   978,455                        451,546
First Financial Holdings Inc               23,950                       183,218
First Horizon National Corp              766,191                  8,228,888
First Mercury Financial Corp            213,900                  3,088,716
First Midwest Bancorp Inc                280,825                   2,412,287
First Niagara Financial Group Inc   414,400                   4,516,960
First Potomac Realty Trust                  75,284                      553,337
First Quantum Minerals Ltd                 6,400                      180,583
First Solar Inc                                        39,400                   5,228,380
Discover Financial Services            1,874,548                 11,828,398

–For a closer look at this fund, go here:

Link: https://realitybloger.wordpress.com/2011/05/06/why/

And this is just one single pension fund! There are thousands of these investment funds out there, all controlled and used collectively to control the financial markets of the world.

Do you still believe that government is a non-profit public entity, or are you starting to understand that government is in fact organized crime to the extreme?

And that leads us to the other listed holders of United States debt.

Here, CNBC lists its most deceiving holder of debt:

2. China

U.S. debt holdings: $1.132 trillion

(From the article)

The largest foreign holder of U.S. Treasury securities, China currently has $1.132 trillion in American debt, although it is down from all time highs of $1.173 trillion in July 2011…

4. Japan

U.S. debt holdings: $1.038 trillion

(From the article)

“One of the U.S.’s largest trade partners, Japan is also one of the U.S.’s largest debt holders, currently owning $1.038 trillion in Treasury securities.”

Now, the biggest and most often portrayed fallacy in the mainstream media is that China holds U.S. Debt. But is this a true statement?

The answer to this question must be obtained by first asking a different question…

When CNBC refers to the abstract name of “China” as the 2nd largest holder of U.S. debt, is it referring to the government of China or to the geographical location of China? Ah… this is a very clever trick used to fool taxpayers into thinking that the country and government of China holds American debt. But here is the reality of the situation:

Over many years, American corporations (majority held by government investment in their stock) have been moving to China and setting up their manufacturing and investment corporations in that country, with the absolute permission of the Chinese government. With this build-up came trillions of dollars of investment capital from the U.S. government, building up China’s infrastructure to that of a 1st world country. Walter Burien has recently estimated those investments to be over $14 trillion in value, meaning that the well-being of China’s global corporate manufacturing base is solely dependent on American and European investment capital.

In short, China houses American corporations, which sell their product back to America. And without the pollution, health, and employment protections and regulations that are imposed upon these American corporations while operating in America, they are able to pay pennies to the Chinese workers and pollute the country with very few regulatory infringements.

If China were to suddenly threaten the United States in any way, American corporations would pull out of China to sufficiently destroy the economic prosperity that American corporations have allowed. In short, these $14 trillion in investments into China’s infrastructure and marketplace makes China all but a colony of the American/European military and industrial manufacturing complex. And the thought of “China” doing anything to change this, including demanding what little U.S. debt it might actually own, is patently ridiculous.

The U.S. debt that is listed here as held by “China” is held by the investment structure that has been built up by American interests.

So who owns the corporations that are taking on American debt securities in these two countries?

Let’s go back to the New York Pension Fund and see what is happening here:

Company                                      Shares of Stock           Market Value

Banks and Investments

Bank Yokohama Ltd Japan Ord     903,100                    3,821,968
Hiroshima Bank Ltd/The                   13,000                         49,357
Bank of Kyoto Ltd/The                       73,000                       614,924
Osaka Gas Company Ltd               2,035,146                   6,346,309
Bank of China Ltd – H                   8,527,000                   2,827,663
Ind Comm Bank of China Ltd      4,464,000                   2,321,280
China Citic Bank – H                        484,000                       182,983
China Construction Bank – H      4,331,000                   2,458,890
China Merchants Bank – H             283,000                      494,428
Shizuoka Bank                                    183,000                    1,637,866
Shinsei Bank Ltd                             1,450,154                     1,453,531
Chiba Bank                                          176,500                       866,685
Cheung Kong (Holdings)              3,376,000                  29,077,161
Hang Seng Bank Ltd                         328,500                    3,308,313
Hanmi Financial Corp                        55,300                           71,890
Mitsubishi UFJ Financial Grp     6,409,847                 30,890,829

Oil/Electic

Tokyo Electric Power Company         359,150                    8,945,115
Tokyo Electron Ltd                               363,650                  13,401,701
Tokyo Gas Company                         2,375,746                    8,298,394
China Petroleum Chemical             3,982,000                   2,548,480
China Power Int Dvlp Ltd               6,012,000                     1,194,643
China Coal Energy Company             416,000                       307,035
China Oilfield Services                        212,000                        167,685
China Shenhua Energy Co                  341,000                       768,240
Chiyoda Chemical Engineering         935,400                    4,962,535
Chubu Electric Power Co Inc              241,917                     5,314,973
Shanghai Electric Grp Co Ltd      12,052,000                    3,467,866
Shinsei Bank Ltd                               1,450,154                      1,453,531
Nissan Chemical Industries Ltd          41,500                        344,958
China Coal Energy Company – H     416,000                        307,035
Hong Kong & China Gas Co Ltd    5,485,330                     8,649,127
Hong Kong Electric Holds Ltd      3,200,500                   18,996,516
Mitsubishi Electric Corp                 3,036,548                   13,557,939
Mitsubishi Gas Chemical CO Inc          4,000                          17,009

Automobiles

Toyota Motor Company                  1,764,412                    55,735,197
Toyota Industries Corp                       177,163                      3,757,786
Toyota Tsusho Corp                           143,200                       1,371,542
Honda Motor – ADR                         188,000                     4,455,600
Honda Motor Company                 1,297,926                    30,421,167
Mazda Motor Corp                             715,000                       1,187,203
Nissan Motors Japanese Ord       4,282,864                     15,176,697
Mitsubishi Corp                                  859,769                     11,185,615
Mitsubishi Motors Corp                    271,000                         342,969
Hyundai Motor Company Ltd           30,860                      1,238,193
Yamaha Corp                                         42,813                         414,823
Yamaha Motor Company Ltd          184,000                     1,630,050

Telecom/Cellphones

Motorola Inc                                          9,547,354             40,385,307
Qwest Communications Int Inc         4,735,734              16,196,210
Vodafone Group plc – Spons ADR        109,595                1,909,145
Vodafone Group plc New                 56,080,988            98,670,972
Samsung Electronics Company Ltd          4,489               1,843,305
Ericsson LM Tele Co – Spons ADR       126,820               1,025,974
Ericsson LM Tele Co – B Shares         7,402,571            60,439,750
Nokia Oyj                                               2,005,360             23,643,146
Nokia Oyj Corp – Sponsored ADR         151,200               1,764,504

These are some of the corporations that are holding U.S. Debt. And so again, we are seeing that the U.S. government is essentially borrowing money from its own investment held corporations, nationalizing that debt onto the backs of the American people, and using the profits of the bonded indebtedness of the people not for the people, but to further government ownership and control over the world corporate structure. And then it demonizes China and assigns a false power onto its government for “holding U.S. debt”.

And the people of America eat it up, because they can never imagine that they themselves are the problem; that their ignorance of their government and their consent to it is really what’s wrong with the world. America’s creed: blame China. Blame Iran, Iraq, Afghanistan. Watch out for Russia… But just disregard our own actions.

So thanks CNBC… you almost told the truth today! Fortunately there are anomalies like Walter Burien and myself to read between the lines and translate what you fail to mention.

But then, government owns you to, so what should we expect?

Media

Walt Disney Company/The             7,975,404               144,833,337
News Corp – Class A                          7,746,798                 51,283,803
Time Warner Cable Inc                     1,476,825                 36,625,251
Time Warner Inc                               4,885,448                 94,289,152
CBS Corp – Class B                            3,518,760                 13,512,038
General Electric Company              39,551,471              399,865,372
Sony Corp                                                811,290                 16,411,435
Sony Financial Holdings Inc                         24                       63,906
Vivendi Universal                               2,414,568               63,876,002
Viacom Inc – Class B                         2,363,387                41,075,666
Discovery Commun Inc – Series A       79,244                  1,269,489
Discovery Commun Inc – Series C       78,831                   1,154,874
Marvel Entertainment Inc                    175,800                 4,667,490
Comcast Corp – Class A                   10,473,672             142,860,886
Comcast Corp – Special Class A            20,259                     260,733
DreamWorks Anim SKG Inc – A        285,700                  6,182,548
DISH Network Corp – Class A             475,200                 5,279,472
DIRECTV Group Inc/The                 2,048,939               46,695,320

.

And so in the end, of the over $15 trillion of U.S. debt that this report refers to, we can rest assured that approximately 70-80% of that debt is self-funded by the United States government, and the rest by government held investment corporations.

Oh my, how will we ever pay ourselves?

Answer: We wont.

But as long as we the people do nothing, the government will continue to raise our taxes and destroy any chance of recovery for the American people from this tyrannical corporation that we falsely call “government” and its blatant usury. And we will continue to pay the national debt plus interest simply to support the governments investment fund scheme, and continue the hostile corporate takeover of this little globe called Earth.

The government owned media will continue to tell us that this thing is “too big to fail”, as if that is a good excuse to ignore the problem and continue to justify undeclared wars and continue into a fascist global United Nations government where the rights of the individual are trumped by the rights of the collective.

The ball is in our court.

We are arriving at the point of no return.

.

–Clint Richardson (realitybloger.wordpress.com)
–Thursday, February 2nd, 2012

Government’s Conflict Of Interest


As I was going through my emails, I got yet another request from someone who wanted me to sign a petition to send to my political “representative” in office, asking politely to stop funding big oil companies. I sighed in disillusionment, trying to think of a way to make people understand that this form of political action is absolutely useless in a corporate government.

I am so saddened as of late that these types of “petitions” are the focus of so much wasted energy. Writing, calling, and even worse… emailing your “representative” in this kind of futile effort is the worst part of our mutually controlled opposition. The sense of satisfaction and patriotism that is felt by these actions is indeed exactly the desired effect of these actions. They accomplish nothing, and yet makes whole groups feel a sense of accomplishment. A petition has NO legal jurisdiction. A letter is scanned and then filed in the trash, while emails are dumped into a folder on a digital archive never to be seen again.

What a game we play – pawns moving around exactly as we are lead, never changing anything, begging our masters to do what’s right and to start representing us. It’s pathetic!

Don’t you understand? The government owns Exxon Mobile. It has controlling stock interest in the company. It owns British Petroleum, Chevron, and any other petroleum based companies you can think of. If it didn’t have a major or controlling financial interest in BP, that gulf oil spill would have been immediately cleaned up! It wouldn’t have cost the government anything to force this corporation to clean up its mess.

Don’t you Understand? Of course the government gives billions and billions in R&D grants to Pharmaceuticals and medical companies. Government owns those as well, both national and international. It hands these subsidies to these companies because it is profitable for government!!! It must do this to justify its tax collections.

Don’t you understand? They wont stop giving their own profitable businesses subsidies (taxpayer money) just because you say pretty please. They wont stop making a profit to save a few square miles of farmland or housing. And they certainly wont change anything just because a bunch of pussified patriots sign a piece of paper demanding it.

And so, I have compiled this list of just the New York State Retirement Fund’s holdings in Pharmaceuticals, oil companies, the media, and other industries. This is only one out of over 200,000 governments, Federal, state, and local. And if just one single government owns this much in these companies, the answers to the following questions should be as clear as day… government owns and profits from these corporations, and passes the laws which regulate them and to guarantee those profits, regardless of what the public wants. The answer to all questions is simple… it’s just business.

Why are pharmaceuticals and medical companies out of control and killing people? Why is cancer the number one most profitable business, despite proven cures? Why are vaccines soon to be mandatory without one shred of evidence as to them being medically sound? Why are banks allowed to charge practically unlimited interest despite usury laws? Why are banks allowed to foreclose on millions and millions of homes? Why are banks allowed to ignore state laws in lieu of federal laws? Why are products made in China all over the stinking place? Why are dangerous and poisonous products being imported into America? Why is the American market so saturated with foreign products? Why was Exxon and BP not required to clean up their historical oil spills? Why is oil still being used when such vast and wonderful alternatives are all around us? Why is the media lying and misinforming us at every turn, supporting government in every way?

All of these questions are answered by this simple realization…

Government owns it all!!!

Government is in a direct conflict of interest by being major majority shareholder (owner) of all significant corporations, both foreign and domestic.

The following is the New York Pension System holdings in major corporations around the world in 2009. This incomplete list and a 2010 list can be downloaded here:

http://www.osc.state.ny.us/retire/about_us/annual_report_2010/index.php

I challenge you to find a company this government doesn’t own stock in!

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=

Company                                   # of shares            Market Value 2009

–Oil and Energy–

Exxon Mobil Corp                           18,125,534              1,234,348,865
Chevron Corp                                    7,698,784                  517,666,219
ConocoPhillips                                 6,003,030                 235,078,655
Schlumberger Ltd                            4,624,733                  187,856,654
BP plc – Sponsored ADR                   202,055                      8,102,406
Royal Dutch Shell plc – A                1,816,523                   40,904,335
Royal Dutch Shell plc – A               2,842,162                   63,886,007
Royal Dutch Shell plc – A                    84,900                      3,761,070
Royal Dutch Shell plc – B                     35,812                       1,561,761
Royal Dutch Shell plc – B                1,553,412                   34,088,987
American Electric Power Co Inc    1,785,207                   45,094,329
PG&E Corp                                         1,249,975                    47,774,045
Questar Corp                                        802,950                   23,630,819
Occidental Petroleum Corp             2,913,414                  162,131,489
Walter Energy Inc                                188,400                    4,308,708
Rio Tinto Ltd                                         136,488                     5,364,638
Rio Tinto plc                                          352,517                    11,874,086
Praxair Inc                                           1,153,745                   77,635,501
Marathon Oil Corp                           2,683,221                   70,541,880
Southwest Gas Corp                            129,220                     2,722,665
Southwestern Energy Company    1,532,452                   45,498,500
National Oilwell Varco Inc             1,757,094                   50,446,169
National Fuel Gas Company             290,140                     8,898,594
Murphy Oil Corp                                 849,129                    38,015,505
Petro-Canada                                        315,730                     8,499,603
Petro-Canada                                         49,900                      1,326,342
Petrohawk Energy Corp                       60,100                       1,155,723
Petrol Ofisi A.S.                                   268,128                          612,205
Petroleo Brasileiro – ADR                     2,330                            70,995
Petroleo Brasileiro S.A. – ADR          88,940                      2,179,030
El Paso Corp                                     2,900,913                    18,130,706
El Paso Electric Company                 104,540                      1,472,969
Petroleum Development Corp            32,465                         383,412
Petroplus Holdings AG                       118,882                     1,673,894
Petroquest Energy Inc                         88,900                         213,360
FirstEnergy Corp                               1,146,792                   44,266,171
Diamond Offshore Drilling Inc         324,678                  20,409,259
Frontier Oil Corp                                  721,302                     9,225,453
Forest Laboratories Inc                   1,580,235                   34,701,961
Forest Oil Corp                                     367,300                    4,829,995
Gulfmark Offshore Inc                         28,900                        689,554
Gulfport Energy Corp                            11,000                          25,520
Gas Natural SDG                                   116,361                     1,589,728
OGE Energy Corp                                385,853                      9,191,018
Oil & Natural Gas Corp Ltd                547,011                      8,411,905
Oil Search Ltd                                    2,186,952                    7,992,540
Cairn Energy plc                                   475,999                  14,839,441
Oil States International Inc               188,040                    2,523,497
Electricite De France (EDF)              505,068                  19,805,545
Gaz De France                                       863,514                  29,636,703
Scottish & Southern Energy plc          511,473                    8,130,299
Tokyo Electric Power Company         359,150                    8,945,115
Tokyo Electron Ltd                               363,650                  13,401,701
Tokyo Gas Company                         2,375,746                    8,298,394
China Petroleum Chemical             3,982,000                   2,548,480
China Power Int Dvlp Ltd               6,012,000                     1,194,643
China Coal Energy Company             416,000                       307,035
China Oilfield Services                        212,000                        167,685
China Shenhua Energy Co                  341,000                       768,240
Chiyoda Chemical Engineering         935,400                    4,962,535
Chubu Electric Power Co Inc              241,917                     5,314,973
Shanghai Electric Grp Co Ltd      12,052,000                    3,467,866
Shinsei Bank Ltd                               1,450,154                      1,453,531
Nissan Chemical Industries Ltd          41,500                        344,958
China Coal Energy Company – H     416,000                        307,035
Hong Kong & China Gas Co Ltd    5,485,330                     8,649,127
Hong Kong Electric Holds Ltd      3,200,500                   18,996,516
Mitsubishi Electric Corp                 3,036,548                   13,557,939
Mitsubishi Gas Chemical CO Inc          4,000                          17,009

–Automobile Industry–

General Motors Corp                       1,869,290                    3,626,423
Ford Motor Company                      7,547,012                   19,848,642
Toyota Motor Company                  1,764,412                    55,735,197
Toyota Industries Corp                       177,163                      3,757,786
Toyota Tsusho Corp                           143,200                       1,371,542
Honda Motor – ADR                         188,000                     4,455,600
Honda Motor Company                 1,297,926                    30,421,167
Mazda Motor Corp                             715,000                       1,187,203
Nissan Motors Japanese Ord       4,282,864                     15,176,697
Mitsubishi Corp                                  859,769                     11,185,615
Mitsubishi Motors Corp                    271,000                         342,969
Hyundai Motor Company Ltd           30,860                      1,238,193
Volvo AB – A Shares                             81,950                         434,170
Volvo AB – B Shares                           183,135                         968,031
Volkswagen AG                                     21,483                     6,560,285
Volkswagen AG – Preferred               16,006                         921,026
Harley-Davidson Inc                          796,512                   10,665,296
Yamaha Corp                                         42,813                         414,823
Yamaha Motor Company Ltd          184,000                     1,630,050
CarMax Inc                                       1,128,900                    14,043,516
Advance Auto Parts Inc                    492,883                   20,247,634

–Pharmaceuticals and Healthcare–

Abbott Laboratories                      5,864,256                  279,725,011
Baxter International Inc               2,975,728                  152,416,788
Bayer AG                                             799,730                   38,861,936
Pfizer Inc                                      26,880,813                  366,116,673
Eli Lilly & Company                     3,904,933                  130,463,812
Merck & Company Inc                  7,814,727                 209,043,947
Merck KGaA                                       159,294                    14,041,129
Teva Pharmaceutical Ind Ltd         613,430                   27,635,022
Bristol-Myers Squibb Company 8,358,967                 183,228,557
Metlife Inc                                        3,135,011                   71,384,200
Colgate-Palmolive Company        1,968,159                 116,082,018
Bristol-Myers Squibb Co              8,358,967                 183,228,557
Roche Holding AG – Genuss          930,152                   127,777,796
Roche Holdings Ltd – ADR              49,000                      1,682,807
Gilead Sciences Inc                       3,936,647                 182,345,489
Glaxosmithkline plc                      6,465,941                 100,789,027
Glaxosmithkline plc – ADR              32,400                     1,006,668
Novartis AG – ADR                           145,280                     5,495,942
Novartis AG – Regular                 2,664,079                 100,935,336
Noven Pharmaceuticals Inc            452,987                      4,294,317
Amgen Inc                                       4,272,238                  211,561,226
Sanofi-Aventis                                2,421,930                 136,276,979
Sanofi-Aventis – ADR                        81,400                     2,273,502
Astrazeneca                                          22,055                         773,644
Astrazeneca plc                               1,833,135                   64,400,614
Astrazeneca plc – Spons. ADR         123,711                      4,385,555
3M Company                                   2,536,317                  126,105,681
UnitedHealth Group Inc              4,777,620                   99,995,587
Tenet Healthcare Corp                 2,636,132                      3,057,913
Pharmaceutical Prod Dvlpmt Inc  678,871                    16,102,820
Pharmerica Corp                                 98,534                      1,639,606
Humana Inc                                       930,895                   24,277,742
St Jude Medical Inc                        1,575,296                  57,230,504
AMN Healthcare Services                125,274                        638,897
American Medical Sys Holds. Inc  259,590                    2,894,429
American Physicians Capital Inc     26,420                     1,081,106
Watson Pharmaceuticals Inc          470,779                   14,645,935
RehabCare Group Inc                         92,232                    1,608,526
Reinsurance Grp of America Inc    522,133                   16,911,888
Univ Health Serv Inc – Class B       203,950                    7,819,443
Basilea Pharmaceutica                       48,480                    3,027,202
Savient Pharmaceuticals Inc             91,058                        450,737
Nationwide Health Propts Inc        375,204                    8,325,777
National Health Investors Inc           12,700                        341,249
Natus Medical Inc                                77,400                       658,674
Chugai Pharmaceutical Co Ltd       290,158                    4,876,605
Shire Pharmaceuticals Group         277,100                    9,958,974
Health Care Reit Inc                         393,735                  12,044,354
Health Mangmnt Asc Inc – Cls A   797,100                    2,056,518
Health Net Inc                                   409,340                    5,927,243
Healthcare Realty Trust Inc              28,015                        419,945
Healthcare Services Group Inc       194,790                    2,916,006
HealthSpring Inc                               309,519                    2,590,674
Healthways Inc                                  233,425                    2,047,137
MedCath Corp                                      41,245                        299,851
Medco Health Solutions Inc       2,204,279                   91,124,894
Medical Properties Trust Inc          125,700                       458,805
Mediceo Holdings Company Ltd     56,700                       603,338
Medicines Company                             5,400                         58,536
Medicis Pharma Corp – Class A    370,640                    4,584,817
Medtronic Inc                                4,208,522                124,025,143

–Banks and Investments–

Morgan Stanley                              4,301,770                   97,951,303
Goldman Sachs Group Inc/The   1,961,585                207,967,242
Goldman Sachs Ssga Em Mrkts  8,934,287                102,501,423
Wells Fargo & Company             16,257,120                 231,501,389
Bank of America Corp                 23,819,237                 162,447,196
Citigroup Inc                                 18,601,505                  47,061,808
Citigroup Inc Depository Shares    199,368                    3,046,343
American Express Company       4,249,664                  57,922,920
American Financial Group Inc       492,854                    7,910,307
Visa Inc – Class A                              390,400                 21,706,240
Mastercard Inc – Class A                 306,830                 51,387,888
Zions BanCorp                                   558,029                   5,485,425
Fifth Third Bancorp                       2,678,672                    7,821,722
Fannie Mae                                             6,000                           4,200
Freddie Mac                                            6,100                            4,636
Hartford Financ Serv Grp Inc      1,099,070                   8,627,700
Hudson City Bancorp Inc             2,946,851                 34,448,688
Western Union Company             2,656,147                  33,387,768
Siemens AG                                         757,252                  43,473,647
Experian Group Ltd                        1,034,174                    6,474,091
Equifax Inc                                           626,161                  15,309,636
Equinix Inc                                             13,800                       774,870
State Street Corp                             1,867,120                  57,469,954
People’s United Financial Inc      1,234,207                  22,178,700
Fidelity Nat Financial Inc – Cls A  839,867                  16,385,805
Fidelity Nat Info Services Inc          657,748                   11,971,014
Westpac Banking Corp                     298,305                   3,956,638
Axis Bank Ltd                                      191,458                     1,565,891
Discover Financial Services          1,874,548                  11,828,398
Softbank Corp                                 3,664,300                 46,596,748
Solera Holdings Inc                           556,652                  13,793,837
Signature Bank                                   210,333                    5,937,701
HSBC Holdings plc                        8,349,382                  47,271,967
HSBC Holdings plc                        1,389,200                    7,645,081
HSBC Holdings plc – Rights            893,766                   1,806,322
Royal Bank of Canada                       169,300                   4,949,214
Royal Bank of Scotland                 6,330,271                   2,223,006
Royal Bank of Scotland, Rights   6,427,941                                 -0-
Allied Irish Banks                            1,216,447                      969,046
National Australia Bank                1,406,252                 19,638,984
Aust & New Zealand Bank Group   701,045                    7,671,606
Commonwealth Bank of Australia    19,794                       477,637
National Bank of Canada                  161,300                    5,161,497
National Bank of Greece                  102,386                     1,551,051
Deutsche Bank AG – ADR                    9,800                      398,370
Deutsche Bank AG – Registered     654,969                26,888,105
Credit Suisse Group                        1,174,244                 35,793,762
Credit Suisse Group – Spons ADR         300                           9,147
Bank Montreal Quebec                     428,291                  11,230,235
Bank Mutual Corp                               94,860                       859,432
Bank of Baroda                                   542,734                   2,506,942
Bank of Communications             1,376,000                       955,210
Bank of Cyprus Ltd                              51,909                        157,826
Bank of East Asia                           2,605,019                    5,028,527
Bank of Hawaii Corp                         192,499                    6,348,617
Bank of India                                      934,270                   4,040,186
Bank of New York Mellon Corp  4,420,585                124,881,526
Credit Agricole S.A.                            311,625                    3,439,044
Credit Saison Company                       14,918                        144,241
Bank of Nova Scotia                          149,900                     3,701,779
First Bancorp Puerto Rico                143,010                       609,223
Bank Yokohama Ltd Japan Ord     903,100                    3,821,968
Hiroshima Bank Ltd/The                   13,000                         49,357
Bank of Kyoto Ltd/The                       73,000                       614,924
Osaka Gas Company Ltd               2,035,146                   6,346,309
Bank of China Ltd – H                   8,527,000                   2,827,663
Ind Comm Bank of China Ltd      4,464,000                   2,321,280
China Citic Bank – H                        484,000                       182,983
China Construction Bank – H      4,331,000                   2,458,890
China Merchants Bank – H             283,000                      494,428
Shizuoka Bank                                    183,000                    1,637,866
Shinsei Bank Ltd                             1,450,154                     1,453,531
Chiba Bank                                          176,500                       866,685
Cheung Kong (Holdings)              3,376,000                  29,077,161
Hang Seng Bank Ltd                         328,500                    3,308,313
Hanmi Financial Corp                        55,300                           71,890
Mitsubishi UFJ Financial Grp     6,409,847                 30,890,829
Mitsubishi UFJ Lease & Fin Co Ltd    1,600                          33,370
Bangkok Bank                                    554,400                      1,172,424
Bangkok Bank Public Co Ltd          446,200                         937,316
Siam Comm Bank Public Co Ltd    376,900                         579,192
Malayan Banking Berhad                802,525                         849,745
Malayan Banking Berhad – Rights  361,136                                 -0-
Blackrock Inc                                           7,135                         927,835
Blackstone Group Lp/The             1,289,215                     9,346,809
Zurich Financial Services                      9,387                     1,486,829
Aetna Inc                                           1,881,924                   45,787,211
Cincinnati Financial Corp                 736,150                   16,835,751
First American Corp                           496,770                  13,169,373
First Bancorp Puerto Rico                 143,010                       609,223
First Cash Financial Services Inc      48,800                       728,096
First Commonwealth Finan Corp   394,940                     3,503,118
First Financial – 144A GDR                 48,113                       444,083
First Financial Bancorp                        62,100                       591,813
First Financial Bankshares Inc           54,475                    2,624,061
First Financial Holding Company   978,455                        451,546
First Financial Holdings Inc               23,950                       183,218
First Horizon National Corp              766,191                  8,228,888
First Mercury Financial Corp            213,900                  3,088,716
First Midwest Bancorp Inc                280,825                   2,412,287
First Niagara Financial Group Inc   414,400                   4,516,960
First Potomac Realty Trust                  75,284                      553,337
First Quantum Minerals Ltd                 6,400                      180,583
First Solar Inc                                        39,400                   5,228,380
Discover Financial Services            1,874,548                 11,828,398

–The Media–

Walt Disney Company/The             7,975,404               144,833,337
News Corp – Class A                          7,746,798                 51,283,803
Time Warner Cable Inc                     1,476,825                 36,625,251
Time Warner Inc                               4,885,448                 94,289,152
CBS Corp – Class B                            3,518,760                 13,512,038
General Electric Company              39,551,471              399,865,372
Sony Corp                                                811,290                 16,411,435
Sony Financial Holdings Inc                         24                       63,906
Vivendi Universal                               2,414,568               63,876,002
Viacom Inc – Class B                         2,363,387                41,075,666
Discovery Commun Inc – Series A       79,244                  1,269,489
Discovery Commun Inc – Series C       78,831                   1,154,874
Marvel Entertainment Inc                    175,800                 4,667,490
Comcast Corp – Class A                   10,473,672             142,860,886
Comcast Corp – Special Class A            20,259                     260,733
DreamWorks Anim SKG Inc – A        285,700                  6,182,548
DISH Network Corp – Class A             475,200                 5,279,472
DIRECTV Group Inc/The                 2,048,939               46,695,320
Dolby Laboratories Inc – Class A         419,110                14,295,842
British Sky Broadcasting                   3,626,650               22,534,452
Deluxe Corp                                            263,202                  2,534,635
Warner Music Group Corp                     16,700                       39,245
Virgin Media Inc                                    280,696                  1,347,341
New York Times Company/The          356,178                  1,609,925
Cinemark Holdings Inc                         373,718                  3,509,212
Hitachi Ltd                                           5,368,600               14,458,313
Fujifilm Holdings Corp                         378,094                  8,134,553
Netflix Inc                                                225,586                  9,682,151
NETGEAR Inc                                           68,745                     828,377
Gamestop Corp – Class A                      913,536                25,597,279
Ticketmaster Entertainment Inc           74,000                    273,060
Tokyo Broadcasting System Hold Inc  18,900                     247,612

–Food and Beverage–

Monsanto Company                           2,280,249            189,488,692
General Mills Inc                                  1,369,515               68,311,408
H.J. Heinz Company                            1,255,221               41,497,606
Hershey Company/The                          609,148               21,167,893
ConAgra Foods Inc                               1,997,457               33,697,100
Dr Pepper Snapple Group Inc              865,369               14,633,390
Coca-Cola West Japan                               3,500                       55,847
Coca-Cola Amatil                                      42,075                     253,456
Coca-Cola Company/The                   7,633,116              335,475,448
Coca-Cola Enterprises Inc                  1,613,637                21,283,872
Pepsi Bottling Group Inc/The              756,262                16,743,641
PepsiAmericas Inc                                  349,239                 6,024,373
Pepsico Inc                                            6,512,462             335,261,544
Groupe Danone                                       231,868                11,285,823
Nutrisystem Inc                                        59,400                     847,638
AES Corp/The                                      2,510,794                14,587,713
Cracker Barrel Old Cntry Store Inc       50,067                  1,433,919
McDonald’s Corp                                4,406,583             240,467,234
Wendys/Arbys Group Inc – Class A 1,743,327                 8,768,935
Safeway Inc                                           2,981,340              60,193,255
Cosco Corp Singapore Ltd                    320,000                    172,609
Cosco Pacific Ltd                                  1,704,000                1,682,013
Smiths Group plc                                  1,327,512               12,729,661
Tesco                                                     12,932,819              61,803,212
Smithfield Foods Inc                              489,493                4,630,604
Smucker (J M) Company/The              545,201               20,319,641
Darden Restaurants Inc                         527,787               18,081,983
Yum! Brands Inc                                   2,110,315               57,991,456

–Telecom/Cellphone–

AT&T Inc                                             22,256,707            560,869,016
Verizon Communications Inc          10,831,468            327,110,334
Sprint Nextel Corp                                9,777,244             34,904,759
Motorola Inc                                          9,547,354             40,385,307
Qwest Communications Int Inc         4,735,734              16,196,210
Vodafone Group plc – Spons ADR        109,595                1,909,145
Vodafone Group plc New                 56,080,988            98,670,972
Samsung Electronics Company Ltd          4,489               1,843,305
Ericsson LM Tele Co – Spons ADR       126,820               1,025,974
Ericsson LM Tele Co – B Shares         7,402,571            60,439,750
Nokia Oyj                                               2,005,360             23,643,146
Nokia Oyj Corp – Sponsored ADR         151,200               1,764,504
Manitoba Telecom Services Inc              38,800                  985,304
Singapore Telecommun Ltd             23,712,699              39,463,971
France Telecom S.A.                             4,161,013              94,746,495
Deutsche Telekom AG – Registered 5,484,668             68,232,281
Tele Norte Leste Part – ADR                   770,711             10,666,640
Tele2 AB – B Shares                                   66,884                  562,268
Telecom Corp of New Zealand           3,833,489               4,988,558
Telecom Egypt                                          133,000                   350,087
Telecom Italia – RNC                           1,380,285                1,404,691
Telecom Italia S.p.A.                           11,019,457              14,206,248
Telecommunication Sys Inc – Class A  411,900                 3,777,123
Teleflex Inc                                                144,400                5,644,596
Telefonica S.A.                                      5,056,407            100,835,142
Telefonos De Mexico                            1,746,900                1,326,618
Telefonos De Mexico S.A. – ADR         294,600               4,430,784
Telekom Austria                                    1,067,724              16,160,836
Telekom Malaysia Berhad                   1,383,000               1,335,389
Telekomunikacja Polska S.A.                   48,243                   257,585
Telekomunikasi Tbk PT                       1,385,900                  905,543
Telemig Celular Participacoes – ADR       1,959                     69,819
Telenor ASA                                           3,379,464              19,269,466
Telephone & Data Systems Inc             392,880              10,415,249
Teletech Holdings Inc                             533,062               5,805,045
Television Francaise (T.F.1)                     42,095                  329,804
Teliasonera AB                                      1,050,823               5,033,396
Telkom South Africa                                  74,690                  828,501

–Other Corporations of Note–

Diebold Inc                                        234,830              5,013,621
Halliburton Company                          3,077,890              47,614,958
Raytheon Company                               1,727,827              67,281,583
Hewlett-Packard Company                9,304,769            298,310,894
Home Depot Inc/The                          7,208,920             169,842,155
Fedex Corp                                             1,230,967               54,765,722
Allstate Corp/The                                 2,187,843               41,897,193
Amazon.Com Inc                                   1,316,841              96,708,803
Macy’s Inc                                              1,568,938               13,963,548
Sears Holdings Corp                                213,759                 9,770,924
Procter & Gamble Company/The   10,837,108              510,319,416
Johnson & Johnson                           10,447,583             549,542,866
Du Pont (E I) De Nemours & Co       3,521,463               78,634,269
Dow Chemical Company/The          4,280,075                36,081,032
Dun & Bradstreet Corp/The                 207,093                15,946,161
Staples Inc                                              2,512,085               45,493,859
Alcoa Inc                                                  3,117,832              22,884,887
Canon Inc                                              2,236,920               63,866,704
Canon Marketing Japan Inc                   35,500                     498,157
Hitachi Ltd                                           5,368,600                14,458,313
Caterpillar Inc                                       2,111,648                59,041,678
H&R Block Inc                                      1,177,370                 21,416,360

–Computers and Internet–

Microsoft Corp                                  28,680,246              526,856,119
Apple Inc                                               3,324,449             349,466,079
Texas Instruments Inc                       5,083,728                83,932,349
Google Inc – Class A                               974,378              339,142,007
Yahoo! Inc                                              5,126,172                65,666,263
Yahoo! Japan Corp                                      4,716                   1,235,222
Intel Corp                                            22,345,858             336,305,163
Dell Inc                                                    7,713,130                73,120,472
International Business Mach Corp  5,099,897              494,129,020
McAfee Inc                                                758,725                 25,417,288
Palm Inc                                                    401,500                  3,460,930
Oracle Corp                                         13,566,613               245,148,697
Oracle Corp Japan                                  192,600                   7,253,944
NVIDIA Corp                                        2,001,337                 19,733,183
Advanced Micro Devices Inc             1,847,932                   5,636,193
Cisco Systems Inc                             23,320,806              391,089,917
Intuit Inc                                               1,339,099                 36,155,673
Microchip Technology Inc                    756,250                16,024,938
Micron Technology Inc                      3,774,261                  15,323,500
Micros Systems Inc                                235,060                  4,407,375
Casio Computer Japanese Ordinary     91,200                      639,887
Electronic Arts Inc                               1,162,420                 21,144,420
Activision Blizzard Inc                           961,705                 10,059,434
THQ Inc                                                     123,910                      376,686

–Alcohol, Coffee, and Cigarettes–

Starbucks Corp                                     2,453,460                 27,257,941
Peet’s Coffee & Tea Inc                             23,620                      510,664
Green Mntain Coffee Roasters Inc      272,425                 13,076,400
Imperial Tobacco Group plc              1,426,448                32,038,870
Philip Morris International Inc         6,731,683               239,513,281
British American Tobacco                   1,137,258                 26,293,331
Lorillard Inc                                             568,189                 35,079,989
Reynolds American Inc                         582,000                20,858,880
Altria Group Inc                                   6,925,183                110,941,432
Molson Coors Brewing Co – Class B   568,782                 19,497,847
Anheuser-Busch InBev Npv                  709,929                 19,553,671
Anheuser-Busch InBev – Strip VVPR 225,008                             896
Seagrams (is owned by Vivendi Universal)  (See Media Listing)
Boston Beer Co Inc/The – Class A          21,950                     457,877
Brown-Forman Corp – Class B              391,530               15,203,110
Castle A. M. & Company                          39,400                     351,448
Constellation Brands Inc – Class A      768,209                  9,141,687
Diageo plc                                                  907,367               10,229,018
Fortune Brands Inc                                  715,098               17,555,656
Heineken Holding Nv – Class A            386,719                9,390,942
Heineken Nv                                            206,448                 5,865,762
Pernod Ricard S.A.                                  353,388               19,694,387

–The Stock Market (corporations)–

NYSE Euronext                                     1,044,464                 18,695,906
NASDAQ OMX Group Inc                     539,840                 10,570,067
Moody’s Corp                                            769,534                  17,637,719
Barclays plc                                             1,278,276                    2,711,681

–Airlines–

Continental Airlines – Class B                313,800                 2,764,578
Southwest Airlines Company              3,345,891                21,179,490
Delta Air Lines Inc                                      16,000                      90,080
JetBlue Airways Corp                               745,342                 2,720,498
Airtran Holdings Inc                                470,680                  2,141,594
Alaska Air Group Inc                                 191,600                3,366,412
All Nippon Airways                                      11,000                      42,989
British Airways                                          398,483                    804,201
Air China Ltd – H                                     446,000                     143,871
Japan Airlines Corp                                  176,000                     356,384
Singapore Airlines Ltd                             347,540                  2,286,147
Cathay Pacific Airways                            702,000                      697,471
Qantas Airways Ltd                                  220,300                     267,097
Ryanair Holdings plc – Spons ADR      298,400                6,896,024
Auckland International Airport Ltd         34,621                       33,789
Priceline.Com Inc                                       231,150               18,209,997

.

For more information on the Comprehensive Annual Financial Report, government wealth through investment, and this complete conflict of interest of government, please visit the following sites:

http://thecorporationnation.com/

https://realitybloger.wordpress.com/

http://cafr1.com/

http://cafrman.com/

.

Clint Richardson (realitybloger.wordpress.com)

Friday, May 6, 2011

The Senate: How Much Does It Cost?


I had to laugh out loud…

As I was searching for a glimpse into the unbelievable amounts of taxpayer money that it takes to fund the Federal Government and it’s Executive Departments by viewing its Comprehensive Annual Financial Reports, I came across an interesting report called the “2010 Detail of Appropriations, Outlays, and Balances” report.

This report can be downloaded here: http://www.fms.treas.gov/annualreport/index.html#part%20one

Other Financial Reports for the Departments of the Treasury, Defense, Commerce, The Post Office, The Social Security Fund, and many others can be found here: http://www.fms.treas.gov/finrep/fr_resources.html#agency

This “Appropriations, outlays, and Balances” report included the expense accounts and left over ongoing fund balances that are appropriated to the Senate, the House of Congress, the Library of Congress, the Architect of the Capital, the Botanical Garden, the Capital Police, an on and on…

And, while some of these “appropriations” were funny, some were not.

For instance, let’s look at the Senate…

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

-= Senate Appropriations =-

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

Did you know that each year the Treasury allots a certain amount of taxpayer money to go to the “Senate Hair Care Revolving Fund”?

Yep… The Federal Government has a fund that was created specifically for the hair care of its Senators! For fiscal year 2010, $33,387 was used to outlay this expense. The word outlay simply means “to spend, an amount expended, paid expenditures”.

There are only 100 Senators – 2 representing each of the 50 states.

This means that on each senator $333.87 in taxpayer money was spent to keep them looking sharp for the cameras, hairpieces and all!

But then, I guess that’s about what you’d expect from a fake Hollywood production like this.

But even more importantly, this “revolving fund” has a balance, which is appropriated solely for this Senatorial hair care. That fund balance, which is invested and gains each year, is $261,117.19. That represents a gain for this fund over fiscal year 2009 of about $36,000.

So we have a quarter of a million dollars designated for Senatorial hair care while many U.S. citizens live in destitute tent cities. It’s kinda funny… and kinda not.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

Farther down the list we have the “Senate Restaurant Fund”, listed as a “Public Enterprise Fund”.

The Senators tapped this fund for $72,370.12 for fiscal year 2010. This left a remaining balance in the “Senate Restaurant Fund” of $49,859.53.

That adds up to about $723.70 per Senator.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

The taxpayers also paid $123,856.74 towards the “Senate Health And Fitness Facility, Architect Of The Capitol”. This left an account balance of $256,380.37.

So taxpayer funded Senatorial gym memberships apparently cost $1,238.56 for each member of the Senate.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

The “Official Mail Costs, Senate” column states that the Federal Government appropriated $300,000 to this cost, adding to the existing balance already appropriated for Senate mailing services of $345,430.58. And after $115,546.71 of this money was actually used for mail, $161,082.59 was “withdrawn or used for other transactions”, the fund balance was left for fiscal year 2010 at $368,801.28 – a gain of a bit more than $22,000.

This represents $2,766.29 per senator for 2010.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

How about the “Senate Gift Shop Revolving Fund, Senate”?

Well, this fund has $2,939,413.53 within it. What this taxpayer money is used for is unclear, but these guys managed to spend $166,673.26 over fiscal year 2010.

This represents $1,666.73 per Senator.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

The “Senate Photographic Studio Revolving Fund, Senate” spent $65,915.24 for the year and shows an ending balance of $798,690.53

There’s $659.15 per Senator.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

The Senate Recording Studio Revolving Fund, Senate” spent $22,722.52, leaving a fund balance of $1,945,771.10.

That’s $227.22 per Senator spent in 2010.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

The “Contingent Expenses, Stationery (paper), Revolving Fund, Senate” spent $298,821.41, leaving a fund balance of $1,078,465.74.

That’s $2988.21 per Senator.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

Ok, so if you are like me, you are probably wondering… WTF?

And about now you may be asking yourself… WTF?

Why is so much money being designated for such trivial things? In a normal business setting, an employee would keep a tally of his expenses and turn in a expense record in order to be refunded that money by the corporation or be given a credit card to be paid off by the company every month. But in governments case, the money is appropriated into accounts or into an individual fund in dollar amounts much larger than are actually being spent.

Dare I say that this money could be used for other things?

But this is just part of the usual shell game, where governmental investment funds and bank accounts are removed from the general use taxpayer fund, which would go to pay or offset other taxes and needed taxpayer budgetary requirements, and put into these accounts and funds which by law must stay in those accounts or be transferred to other such legally appropriated funds. These types of funds happen throughout the entire spectrum of government, from local to district to county to state to Federal government.

But hey, and I hate to tell you this… but we haven’t even scratched the surface yet. These, believe it or not, are the small funds and accounts.

Now let’s look at one of the most outrageous expenses in the Senate (and the Congress).

The average Senator moans and groans about the low salary that he or she is paid, considering the job they are elected to. And the people generally and ignorantly agree. A Senator might mention how noble and altruistic they are for taking on the representation (LOL!) of the people of their state, and that the money that is paid to them for that venture is perhaps inconsequential compared with the honor of the service they are providing to the public (LOL!!!).

But in truth, if one wishes to know how much taxpayer money is earned by each Senator, one would have to go to the main source of that wealth. That source is the individual, tax-exempt expense accounts that each Senator (and congressman) receive.

You see, it is in the best interest of these legislators to keep their base salaries as low as possible. Why? Because those salaries are taxed. Their expense accounts are not!

Listed on this “2010 Detail of Appropriations, Outlays, and Balances” report, under “Contingent Expenses, Senator’s Official Personnel And Office Expense Account, Senate”, we get a more accurate idea of what these crooks are being compensated with in order to be a part of this organized criminal activity working for United States Inc.

The report states that $422,000,000 was appropriated for use in the personal expense accounts of these 100 Senators.

Of that $422 million, $400,590,512.37 was used (outlay) for the personal and office expenses of these Senators.

That represents an average of about $4,005,900 per Senator for “personal” and “office” expenses. Tax free. Spent on anything they want.

The account that holds this appropriated money gained about $13,600,000 over 2009 – leaving the ending account balance at $81,448,251.53.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

Wow! I want to be a Senator! Hell… I’ll do it for no salary. Just lay that expense account on me!!!

Now you are probably really thinking… WTF?

You might be asking yourself, who in the name of all that is Holy would allow these 100 people to be appropriated with almost half a billion dollars for their personal expenses?

Ever heard of the Senate Appropriations Committee? That’s right. The Senate appropriates this money to their own expense accounts! Excuse me while I laugh out load again…

Now, you are probably thinking that this money is being used for “office” expenses much more than the actual “personal” expenses of these Senators, right?

Wrong…

We already know from looking at the above funds and accounts that these separate  expense accounts weren’t used on haircuts, mail, working out, official pictures, restaurants, writing paper with the U.S. Seal embossed upon it, or spent in the gift shop! Actually, I’m sure much of it was spent on wining and dining corporate lobbyists, purchasing fancy suits, and personal grooming and care. But these expense accounts can be used for just about anything. Condos in Tahiti, vacations to Australia, second home purchases for “business purposes”, you name it. All tax exempt!

And as we can see from further examination of this appropriations report, all of the other Senatorial expenses are more than covered by the following other funds and accounts…

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Contingent Expenses, Expenses Of Inquiries And Investigations, Senate”

$140,500,000.00 – Appropriated for 2010.

$125,780,268.65 – Outlay (spent).

$254,644.79 – Withdrawn or other transactions.

$26,704,079.70 – The ending account balance, a gain of about $2 million over 2009.

$1,257,802 – Average spent per each of 100 Senators based on (outlay divided by 100)

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Contingent Expenses, Miscellaneous Items, Senate”

$19,909,500.00 – Appropriated for 2010.

$13,524,922.79 – Outlay (spent).

$0.00 – Withdrawn or other transactions.

$49,225,568.72 – The ending account balance, a gain of about $1.2 million over 2009.

$135,249.22 – Average spent per each of 100 Senators.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Compensation Of Members And Related Administrative Expenses, Senate”

$23,603,773.00 – Appropriated for 2010.

$20,708,164.76 – Outlay (spent).

$0.00 – Withdrawn or other transactions.

$4,230,079.21 – The ending account balance, a gain of about $1.1 million over 2009.

$207,081.64 – Average spent per each of 100 Senators.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Contingent Expenses, Secretary Of The Senate, Senate”

$1,990,000.00 – Appropriated for 2010.

$756,508.92 – Outlay (spent).

$0.00 – Withdrawn or other transactions.

$9,557,875.92 – The ending account balance.

$7,565.08 – Average spent per each of 100 Senators.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Contingent Expenses, Sergeant At Arms And Doorkeeper Of The Senate, Senate”

$141,601,000.00 – Appropriated for 2011-2014.

$10,000,000 – Appropriated for 2010.

$90,719,432.93 – Outlay (spent) 2010-2014.

$0.00 – Withdrawn or other transactions.

$60,881,567.07 – The ending account balance as of 2014.

$907,194.32 – Average spent per each of 100 Senators as of 2014.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Settlements And Awards Reserve, Contingent Expenses, Senate”

$1,000,000 – The ending account balance as of 2010.

$10,000 – Average spent per each of 100 Senators as of 2014.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Congressional Use Of Foreign Currency, Senate”

$4,000,000.00 – Appropriated for 2010.

$4,416,425.52 – Outlay (spent).

$0.00 – Withdrawn or other transactions.

$27,613,635.88 – The ending account balance.

$44,164 – Average spent per each of 100 Senators.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Senate Office Of Public Records, Revolving Fund, Senate”

$22,907.00 – Outlay (spent).

$204,092.08 – The ending fund balance as of 2010.

$229 – Average spent per each of 100 Senators as of 2014.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Daniel Webster Senate Page Resident Revolving Fund, Senate”

$41,173.33 – Outlay (spent).

$268,265.96 – The ending fund balance as of 2010.

$411.73 – Average spent per each of 100 Senators as of 2014.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

And last, but but certainly not least… we come to the actual salaries that are paid to have this set of 100 Senators.

“Salaries And Expenses, Office Of The Legislative Counsel Of The Senate, Senate” – We see that $7,154,000 was appropriated by the Senate itself for the Senator and staff Salaries. Of that amount, $6,394,041.59 was actually paid out (outlay) to the Senators and staff.

That left a balance in this account of $939,136.37.

That represents $63,940.41 per Senator.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Salaries, Officers And Employees, Senate”

$168,217,500.00 – Amount appropriated in 2010.

$150,017,546.99 – Amount paid (outlay) to officers and employees in 2010.

$27,053,492.09 – Account balance end of 2010 fiscal year, an increase of about 5.1 million over 2009.

$1,500,175 – Average amount paid for every Senator.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Salaries And Expenses, Office Of Senate Legal Counsel, Senate”

$1,544,000.00 – Amount appropriated in 2010.

$1,050,722.89 – Amount paid (outlay) to “legal counsel” in 2010.

$877,105.95 – Account balance end of 2010 fiscal year, an increase of about $18,000 over 2009.

$10,507.22 – Average amount paid for every Senator.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

“Payment To Widows And Heirs Of Deceased Members Of Congress, Senate”

$174,000.00 – Amount appropriated in 2010.

$174,000.00 – Amount paid to “widows and heirs”

$1740.00 – Average amount paid divided by 100 Senators.

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

So what does all of this mean?

Well, what is your definition of wasteful spending?

In order for each state to have two representatives, a total for the country of 100 Federal Employees for which we call “Senators”, and with the understanding that this in no way represents all monies spent on the Senate or the money that each state pays separately for each Senator (employees, office leases, supplies, legal council, etc.), the taxpayers paid at least the following for 2010:

$8,162,563.35 per Senator (in blue above)

$815,257,003.33 spent/outlay (in purple above)

Of course, the actual amount appropriated for these things is always much higher than the actual costs by thousands or millions of dollars. Sadly, this is purposeful. And, the account and fund balances that have accumulated over the years from over-appropriation (assigning too much money) to these funds for 2010 stand at at least a total of:

$297,905,741.83 excess account and fund balances (in red above).

All of this (plus much much more that is not listed here) just to have 100 men and women pretend to represent us. Remember, these are the people who don’t even read the bills presented to them by their corporate lobbyists before they sign them!

That treason costs the taxpayers of America over $815 million dollars, and well over $1 billion if all related expenses were taken into account.

All this to support 100 men in fancy suits. Imagine what the congress costs…?

All this while Americans lose their homes, their jobs, and their lives.

What has America become?

.

–Clint Richardson (realitybloger.wordpress.com)

Monday, April 4, 2011