CAFR Confession


A friend and listener to our local AM station took our interview with the mayor of Salt Lake County, where he admits to the county CAFR and over $650 million in extra fund balances. He also included the CAFR pages I read from as reference.

Though I already posted the interview (audio only), I feel like this is the most important public official confession as to the wealth of the government as shown in government’s financial statements.

Please pass this on…

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Also, learn more about government Comprehensive Annual Financial Reports (CAFR’s) with CAFR School, here:

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Part 1: The State of Wisconsin CAFR -

https://realitybloger.wordpress.com/2011/03/01/wisconsins-real-financial-situation-explained/

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Part 2: Introduction to CAFR – City of Aurora, Co -

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

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Part 3: Advanced study – State of Minnesota CAFR -

https://realitybloger.wordpress.com/2011/03/09/cafr-school-part-2-minnesotas-state-cafrs-explained/

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Now compare these to your own local, county state, and school district CAFR’s.

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–Clint Richardson (realitybloger.wordpress.com)
–Tuesday, July 12, 2011

 

 

 

 

Wisconsin’s Real Financial Situation Explained


The following is a list of totals reported in the Wisconsin State Comprehensive Annual Financial Report (CAFR), fiscal year ending June 30, 2010.

The individual funds and investments that make up these totals are listed in detail below these fund “totals”.

All of this is sourced from the state’s 2010 CAFR, which can be downloaded at the state governments website, here: http://www.doa.state.wi.us/subcategory.asp?linksubcatid=374&locid=3

It may also be viewed online here: http://www.docstoc.com/docs/23131666/Wisconsin-Comprehensive-Annual-Financial-Report

Page numbers are listed, so you can follow along in the CAFR for verification, and my comments are in red.

And now, the answer to the question… Is the State of Wisconsin bankrupt?

First, let’s have a look at what Wisconsin has in its investment funds, which is not being reported to the taxpayers of the state or of America…

(See below for explanation)

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TOTAL PRIMARY GOVERNMENT “VARIOUS FUNDS”

-> $4,403,000,000

TOTAL UNIVERSITY OF WISCONSIN SYSTEM (UW) FUND

-> $365,800,000

TOTAL WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY FUND

-> $1,023,000,000

TOTAL UNIVERSITY OF WISCONSIN AND CLINICCS AUTHORITY FUND

-> $127,400,000

TOTAL STATE FAIR PARK EXPOSITION CENTER INC FUND

-> $200,000

TOTAL WISCONSIN HEALTH CARE LIABILITY INSURANCE PLAN (WHCLIP) FUND

-> $72,000,000

TOTAL UNIVERSITY OF WISCONSIN FOUNDATION FUND

-> $2,006,000,000

TOTAL STATE INVESTMENT FUND (SIF)

-> $6,603,000,000

TOTAL IN THE RISK MANAGEMENT FUND

-> $94,847,000

TOTAL NONMAJOR GOVERNMENTAL FUNDS

-> $664,459,000

TOTAL NONMAJOR ENTERPRISE FUNDS listed as “All Nonmajor Funds”

-> $1,446,072,000

TOTAL INTERNAL SERVICE FUNDS listed as “totals”

-> $350,107,000

TOTAL PENSION AND OTHER EMPLOYEE BENEFIT TRUST FUNDS listed as “Totals”

-> $66,937,157,000

TOTAL INVESTMENT TRUST FUNDS listed as “Totals”

–> $2,606,398,000

TOTAL PRIVATE-PURPOSE TRUST FUNDS listed as “Totals”

–> $2,265,681,000

TOTAL AGENCY FUNDS listed as “Totals”

-> $334,837,000
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TOTAL FUND INVESTMENTS (From above list)

-> $89,299,958,000

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(LISTED IN TABLE 3 CHANGES IN NET ASSETS)

TOTAL NET ASSETS

-> $11,693,400,000

TOTAL CAPITAL ASSETS (WITHOUT DEDUCTIONS FOR LONG-TERM LIABILITIES)

-> $22,487,900,000
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TOTAL NET ASSETS

-> $34,181,300,000

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TOTAL ASSETS (CAPITAL AND INVESTMENTS) FOUND IN 2010 STATE CAFR

-> $123,481,258,000

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Note: This should not be construed to be a representation of all hidden wealth and investments within the state government of Wisconsin, but rather the ones that jump off the page to the semi-trained eye. Revenue bonds and other investment assets and future profits are still beyond my scope of translation.

But to put this state government wealth into perspective… The population of the state of Wisconsin as of 2010 was 5,686,986 people. The above figure of over $123 Billion represents investments and capital net assets, which total $21,712 per person in the state of Wisconsin. Remember… many of those people are kids with no income!

This summary compilation of the wealth of the state of Wisconsin is for one purpose: to show exactly what the Wisconsin state government is holding in cash and liquid investments, and not hiding this wealth by stating what their “future obligations” are. So the above figure is what the state had in actual assets, cash, and investments as of June 30, 2010, after liabilities were already paid, and not what it will spend later (which is just their way to hide this current wealth as reported by attaching its value to future financial obligations). Compare this with your exact personal bank account balance today, not what it will be next week or in 5 years (or once future bills are paid with future checks). This is the balance today, and it includes your savings and investments at their value today, not in the future.

While the State government will tell us that these funds are designated or “restricted” to the funds that house them, there is no law that says this is the case, and they are transferred between each fund (intra-fund) all of the time. Do not let these crooks tell you that these funds and investments are restricted without proof. SHOW US THE LAW!

This is rightly taxpayer money, and it could and should be used for taxpayer purposes. Instead, it is being withheld from the public (taxpayers), invested in these funds, and used for “business activities” within this for-profit corporation known as the “State of Wisconsin”. There is no reason that any government (meaning the people; the public) should be in debt, at all, with this kind of hidden wealth.

The state of Wisconsin is obviously far from bankrupt!

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***Note: This is just the state corporation (government), and does not include the counties, municipal corporations (cities), towns, school districts, and other corporate governments within the state of Wisconsin. Each of these “governments” has their own investments, funds, and assets, which are listed separately on each of their CAFR’s. The assets of all of these individual government corporations within the state do not appear on the state CAFR.

There are 72 counties in the State of Wisconsin.

There are 190 cities (municipal corporations) in the State of Wisconsin (as of 2006).

There are 1,260 towns in the State of Wisconsin (some the same as cities).

There are 370 school districts in the State of Wisconsin (approx).

All of these are different government corporations. All of these have separate CAFR’s.

Malls, movie theaters, golf courses, most other commercial real estate entities, electric and gas companies, water and sewage companies, universities and colleges, parks and zoos, parking meters and garages, toll roads and bridges, and many other types of government owned businesses are all part of individual governments listed in their CAFRs.

The total wealth of the state of Wisconsin can only truly be measured by adding up the investments, assets, funds, enterprise operations (businesses), and other government wealth and investments within each of these individual corporate governments, through each county and local government Comprehensive Annual Financial Report.

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***Note: There is a rabid defense of pension funds by the government employees who benefit from them, and of course by the government who controls and profits from them and their investments. But it is important to understand that the money that is being contributed to these pension funds is also taxpayer money. In 2009, the amount contributed to the Wisconsin Retirement System by state employees was $736,689,000. But the amount contributed by taxpayers who are not employees of any state office (ordinary taxpaying citizens) was $632,706,000. In other words, over $632 million in taxpayer money went to support this pension fund system in the form of government employer contributions, which could have gone to support government activities that would support the taxpayers themselves or to pay off debt. Government Employers are funded with taxpayer money. Thus their contributions are coming from taxpayer money. Simple.

The Wisconsin Retirement System pension fund made a $10.5 Billion dollar profit (return on investment) in fiscal year 2009, and a $5.4 Billion dollar profit in fiscal year 2010.

This was after all benefits and liabilities were paid for the year. This money is in no way benefiting the taxpayers of the state. This was pure profit for the fund – the return on investments!!!

***Note: This is what I could find looking at the Wisconsin State CAFR, and represents the assets and investments as reported by the state at the end of fiscal year 2010, which ended June 30, 2010. Thus, these are the totals as of that date (06/30/10) – which is the latest Comprehensive Annual Financial Report available for viewing to the public. This took two full days of reading and research to acquire. While I made every attempt at accuracy, I have no financial background. Crosschecking my accuracy and verifying if I accidentally reported any items twice is suggested. You have the report at your fingertips…

-Clint Richardson-
March 1, 2011

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The information below is pulled straight from the 2010 CAFR for the State of Wisconsin…

Download here: http://www.doa.state.wi.us/subcategory.asp?linksubcatid=374&locid=3

(My comments are in red)

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(Page 19)

FINANCIAL HIGHLIGHTS — PRIMARY GOVERNMENT

The State of Wisconsin, like the rest of the nation, experienced an economic decline that persisted from Fiscal Year 2009 in to Fiscal Year 2010. To assist in stimulating the economy, the federal 2009 American Recovery and Reinvestment Act (ARRA) provided tax relief and additional funding for approximately 132 federal programs administered by at least 16 different state agencies. Both events impacted the financial results reported for the State.

Government-wide (Tables 2 and 3 on Pages 22 and 23)

Net Assets. The assets of the State of Wisconsin exceeded its liabilities at the close of Fiscal Year 2010 by $11.7 billion (reported as “net assets”). Of this amount, $(9.9) billion was reported as “unrestricted net assets”. A positive balance in unrestricted net assets would represent the amount available to be used to meet a government’s ongoing obligations to citizens and creditors.

Changes in Net Assets. The State’s total net assets decreased by $29.3 million in Fiscal Year 2010. Net assets of governmental activities increased by $31.7 million or 0.6 percent, while net assets of the business-type activities showed a decrease of $61.0 million or 1.0 percent.

Excess of Revenues over (under) Expenses — Governmental Activities. During Fiscal Year 2010, the State’s total revenues for governmental activities of $26.2 billion were $1.3 billion more than total expenses (excluding transfers) for governmental activities of $24.9 billion. Of these expenses, $12.6 billion were covered by program revenues. General revenues, generated primarily from various taxes, totaled $13.6 billion.

Note: The State of Wisconsin, as listed under Table 3: “Changes in Net Assets”, earned $34.84 Billion in tax-based revenues, which represents a $3.89 Billion increase in revenue generation for the state. In other words, the state government through its business activities related to taxpayers earned over 3.8 billion dollars more profit than they did in the 2009 fiscal year at the taxpayers expense (See Table 3 on page 23 of the CAFR).

This Financial Highlights section makes it appear that the Wisconsin government is in trouble, but I assure you this is not the case.

Net assets of the State are listed here as well at $11,693,400,000. But this does not include the funds we will be going over starting now…

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(Page 75)

NOTE 5. DEPOSITS AND INVESTMENTS

The State maintains a short-term investment “pool”, the State Investment Fund, for the State, its agencies and departments, and certain other public institutions which elect to participate. The investment “pool” is managed by the State of Wisconsin Investment Board (the Board) which is further authorized to carry out investment activities for certain enterprise, trust and agency funds. A small number of State agencies and the University of Wisconsin System also carry out investment activities separate from the Board.

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(Page 76)

B. Investments

1. Primary Government
Wisconsin Statutes, program policy provisions, appropriate governing boards, and general resolutions contained in revenue bond indenture documents define the types of securities authorized as appropriate investments and the conditions for making investment transactions.

Investments of the State are managed by various portfolios. For disclosure purposes, the following investment portfolios are discussed separately:

Primary government, excluding the University of Wisconsin System, the Wisconsin Retirement System and the State Investment Fund. The primary government portfolios include various funds managed by the State of Wisconsin Investment Board consisting of the following:

– Local Government Property Insurance Fund (LGPIF)
— State Life Insurance Fund (SLF)
— Injured Patients and Families Compensation Fund (IPFCF)
— Historical Society Fund
— Tuition Trust Fund

University of Wisconsin System (UWS)

Wisconsin Retirement System (WRS)

State Investment Fund (SIF) — functions as the State’s cash management fund by “pooling” the idle cash balances of all State funds and other public institutions. Investments of the SIF are discussed in section B 3 of this note disclosure.

The State of Wisconsin Investment Board (the Board) has exclusive control over the investments of the Local Government Property Insurance Fund (LGPIF), the State Life Insurance Fund (SLF), the Injured Patients and Families Compensation Fund (IPFCF), the Historical Society Fund, and the Tuition Trust Fund, which are collectively known as the “various funds”.

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(Page 77)

Custodial Credit Risk
Custodial credit risk is the risk that, in the event of a failure of the counterparty, the State will not be able to recover the value of the investment or collateral securities that are in the possession of an outside party.

So the states investments (taxpayer money) are at risk of loss with no recovery or insurance while it is being invested without the consent or knowledge and comprehension of the taxpaying public.

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Primary Government (excluding the University of Wisconsin System (UWS), the Wisconsin Retirement System (WRS), and the State Investment Fund (SIF))

At June 30, 2010, the reported amount of investments of the primary government, including the various funds, was $4,403.7 million, of which $286.9 million is reported as cash equivalents and $327.0 million is reported as “Other Assets”. The primary government, including the various funds, does not have an investment policy specifically for custodial credit risk, however, at June 30, 2010, the primary government had no custodial credit risk exposure for these investments.

(in millions, The Primary Government Funds called “Various Funds”, which include the LGPIF, the SLF, the IPFCF, the Historical Society Fund, and the Tuition Trust Fund have $4.403 Billion Dollars in investments)

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Wisconsin Retirement System (WRS)

All assets of the WRS are invested by the State of Wisconsin Investment Board (the Board). The WRS consists of shares in the core retirement trust fund and the variable retirement trust fund…

The retirement fund assets consist of shares in the Variable Retirement Investment Trust and the Core Retirement Investment Trust. The Variable Retirement Investment Trust consists primarily of equity securities. The Core Retirement Investment Trust is a balanced investment fund made up of fixed income securities and equity securities. Shares in the Core Retirement Investment Trust are purchased as funds are made available from retirement contributions and investment income, and sold when funds for benefit payments and other expenses are needed.

The assets of the Core and Variable Retirement Investment Trusts are carried at fair value with all market value adjustments recognized in current operations. Investments are revalued monthly to current market value. The resulting valuation gains or losses are recognized as income, although revenue has not been realized through a market-place transaction.

The investments of the core retirement trust fund consist of a highly diversified portfolio of securities. Wis. Stat. Sec. 25.182 authorizes the Board to manage the core retirement trust fund in accordance with “prudent investor” standard of responsibility as described in Wis. Stat. Sec. 25.15(2) which requires that the Board manage the funds with the diligence, skill and care that a prudent person acting in a similar capacity and with the same resources would use in managing a large public pension fund.

At June 30, 2010, the WRS investments were $66.6 billion. The WRS does not have a formal policy for custodial credit risk. As of June 30, 2010, the WRS held eighteen tri-party repurchase agreements totaling $787.0 million.

(The Wisconsin Retirement System (WRS) has over $66 billion in investments.)

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University of Wisconsin System (UWS)

At June 30, 2010, the UWS investments were $365.8 million, of which $26.7 million is reported as cash equivalents. The UWS’s investments are registered in the name of the UWS and the UWS does not participate in any securities lending programs through its custodian bank. Investment securities underlying the UWS’s investment in shares of external investment pools or funds are in custody at those funds. The shares owned in these external investment pools are registered in the name of the UWS.

(The University of Wisconsin System (UW) has $365.8 million in investments.)

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(Page 89)

2. Component Units
…except for the Wisconsin Health Care Liability Insurance Plan and the University of Wisconsin Foundation (Other Component Units)

Wisconsin Housing and Economic Development Authority (Authority) – The Authority is required by statute to invest at least fifty percent of its General Fund funds in obligations of the State, of the United States, or of agencies or instrumentalities of the United States, or obligations, the principal and interest of which are guaranteed by the United States, or agencies or instrumentalities of the United States. Each investment portfolio specifies what constitutes a permitted investment and such investments may include obligations of the U.S. government and agencies securities; corporate bonds and notes; money market mutual funds; commercial paper; and repurchase agreements and investment agreements.

The Authority enters into collateralized investment contracts with various financial institutions. The investment contracts are generally collateralized by obligations of the United States government.

The Authority is also authorized to invest its funds in the State Investment Fund.

The Authority’s aggregate investments at June 30, 2010 were $1,023.7 million of which $843.8 million are reported as cash equivalents.

(In millions, The Wisconsin Housing and Economic Development Authority has $1.023 billion in investments)

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University of Wisconsin Hospital and Clinics Authority – The University of Wisconsin Hospitals and Clinics Authority’s (the Hospital) aggregate investments at June 30, 2010 were $375.6 million of which $248.2 million (invested with the University of Wisconsin Foundation, see investment disclosure discussion for the University Wisconsin Foundation) are reported as “Cash and Investments with Other Component Units.” The board of directors has authorized management to invest in debt and equity securities.

(In millions, The University of Wisconsin Hospital and Clinics Authority has $375.6 million, $127.4 million of which is not invested in the University fund (see above))

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State Fair Park Exposition Center, Inc. – The aggregate investments at December 31, 2009 were $.2 million consisting of money market funds reported as cash equivalents.

(In millions, The State Fair Park Exposition Center, Inc has $200 thousand in investments)

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(Page 91)

Other Component Units

Wisconsin Health Care Liability Insurance Plan (WHCLIP) – Aggregate investments of the WHCLIP were $72.0 million, of which $13.2 million are money market and other highly liquid debt instruments reported as cash equivalents.

The WHCLIP does not hold investments in any one issuer that exceeds 5 percent of total assets.

As of December 31, 2009, the WHCLIP did not own any issues denominated in a foreign currency.

Excluded investments include: bonds rated below A by a major rating service at the time of purchase, foreign bonds not denominated in U.S. currency, futures transactions, short selling, use of margin, derivatives and hedge funds.

The investments of the WHCLIP at December 31, 2010 were $58.9 million consisting of the following (in millions):

Amortized Estimated Investment Type Cost Fair Value

U.S. Treasury securities and
-   obligations of the U.S. government
-   corporations and agencies                    $10.1
Debt securities issued by foreign
-   governments and corporations             $3.2
Industrial and miscellaneous                   $25.5
Loan-backed securities                              $24.2

Total                                                         $63.0

(In millions, The WHCLP Fund has $72 million in investments)

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(Page 92)

University of Wisconsin Foundation (the Foundation) – Aggregate investments of the Foundation are $2,006.6 million.

The following table summarizes the types of investments of the Foundation at December 31, 2009 (in millions):

Investment Type Fair Value

Bond and debentures    $455.5
Stocks                                $512.2
Bond funds                      $106.0
Stock funds                        $25.5
Hedge funds                    $478.4
Limited partnerships     $278.6
Real asset funds              $146.2
Other funds                          $4.2

Total                         $2,006.6

(in millions, University of Wisconsin Foundation Fund has $2.006 Billion in investments)

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(Page 101)

Component Unit

University of Wisconsin Foundation – The University of Wisconsin Foundation’s (the Foundation) endowment consists of 3,067 individual funds established for a variety of purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the Board of Directors to function as endowments. Net assets associated with endowment funds, including funds designated by the Board of Directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.

The Board of Directors has interpreted the Uniform Management of Institutional Funds Act (UPMIFA) as requiring the preservation of fair value of the original gift as of the gift date of the donorrestricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the Foundation classifies as permanently-restricted net assets (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified in permanently-restricted net assets is classified as temporarily-restricted net assets until those amounts are appropriated for expenditure by the organization in a manner consistent with the standard of prudence prescribed by UPMIFA. In accordance with UPMIFA, the organization considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds:

• The duration and preservation of the fund
• The purpose of the Foundation and the donor-restricted endowment fund
• General economic conditions
• The possible effect of inflation and deflation
• The expected total return from income and the appreciation of investments
• Other resources of the Foundation
• The investment policies of the Foundation

Endowment Net Asset Composition by Type of Fund as of December 31, 2009 (in millions):

Unrestricted  -  Temp. Restricted  -  Perm. Restricted  -  Total

$(38.2)                        $175.0                        $749.5            $886.3

(In other words, the Board Of Directors of the University of Wisconsin Foundation have made the original donations made by a donor(s) (known as endowments) a restricted money base, meaning it cannot be used for anything else. But the money made on the investment gains from these donations, the capital gains, are designated as “unrestricted” and can be used or transferred elsewhere in government or into these types of secretive funds not reported to the taxpayer on the annual taxpayer budget report.)

(So… In millions, The University Of Wisconsin Fund also includes $886.3 million in cash and investments, which are “donor-restricted”.)

(Page 100)

The University of Wisconsin System invests its trust funds, principally gifts and bequests designated as endowments or quasi-endowments, in two of its own investment pools: the Long Term Fund and the Intermediate Term Fund. Benefiting University of Wisconsin System entities receive quarterly distributions from the Long Term Fund, principally endowed assets, based on an annual spending rate applied to a 12-quarter moving average market value of the fund…

University of Wisconsin System investment policies and guidelines for the Long Term Fund and Intermediate Term Fund are governed and authorized by the Board of Regents.

The fair value of Endowments as of June 30, 2010 was $370.7 million including an unrealized gain of $38.4 million when fair values as of June 30, 2010 are compared to asset acquisition costs. This compares to a fair value as of June 30, 2009 of $336.9 million. The net increase in fund balance during 2009-10 was $33.8 million. (That’s profit!)

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(Page 102)

Celebrate Children Foundation, Inc
The Celebrate Children Foundation Inc. (CCF) endowment includes both donor-restricted funds and funds designated by the Board of Directors to function as endowments. As required by generally accepted accounting principles, net assets associated with endowment funds, including funds designated by the Board of Directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The Board of Directors of the CCF has interpreted the State Prudent Management of Institutional Funds Act (SPMIFA) as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the CCF classifies as permanently restricted net assets (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund…

(Page 103)

…The CCF expects the current spending policy to allow its endowment funds to grow at a nominal average rate of 3 percent annually. This is consistent with the CCF’s objective to maintain the purchasing power of the endowment assets as well as to provide additional real growth through new gifts and investment return. (But what about the children???)

Endowment net asset composition as of June 30, 2010:

-                      Unrestricted  -  Perm-Restricted  -  Total

Donor-restricted       $ –                   $1,083,214         $1,083,214

Unrestricted

Board-designated  (14,812)                     —                      (14,812)

Total                   $(14,812)          $1,083,214     $1,068,402

(In millions, Celebrate Children Foundation, Inc Fund includes $1.068 million in cash and investments which are “donor-restricted”.)

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(Page 93)

3. State Investment Fund

The State Investment Fund (SIF) functions as the State’s cash management fund by “pooling” the idle cash balances of all State funds and other public institutions. In the State’s Comprehensive Annual Financial Report, the SIF is not reported as a separate fund; rather, each State fund’s share in the “pool” is reported on the balance sheet as “Cash and Cash Equivalents.” Shares of the SIF belonging to other participating public institutions are presented in the Local Government Pooled Investment Fund, an investment trust fund.

Wis. Stat. Secs. 25.17(3)(b), (ba), (bd) and (dg) enumerate the various types of securities in which the SIF can invest, which include direct obligations of the United States or its agencies, corporations wholly owned by the Untied States or chartered by an act of Congress, securities guaranteed by the United States, unsecured notes of financial and industrial issuers, direct obligations of or guaranteed by the government of Canada, certificates of deposit issued by banks in the United States and solvent financial institutions in Wisconsin, and bankers acceptances. Other prudent investments may be approved by the State of Wisconsin Investment Board’s (the Board) Board of Trustees.

Investments are valued at fair value for financial statement purposes and amortized cost for purposes of calculating income to participants. The custodial bank has compiled fair value information for all securities by utilizing third party pricing services. The fair value of investments is determined at the end of each month. Government and agency securities and commercial paper are priced using matrix pricing. This method estimates a security’s fair value by using quoted market prices for securities with similar interest rates, maturities, and credit ratings. Short-term debt investments with remaining maturities of up to 90 days are valued using amortized costs to estimate fair value, provided that the fair value of those investments is not significantly affected by the impairment of the credit standing of the issuer or by other factors. Repurchase agreements and nonnegotiable certificates of deposit are valued at cost because they are nonparticipating contracts that do not capture interest rate changes in their value. In addition, a bond issued by another State agency having a par value of $21.2 thousand is valued at par, which management believes approximates fair value.

(Page 94)

For purposes of calculating earnings to each participant, all investments are valued at amortized cost. Specifically, income is distributed to pool participants’ monthly based on their average daily share balance. Distributed income includes realized investment gains and losses calculated on an amortized cost basis, interest income based on stated rates (both paid and accrued), amortization of discounts and premiums on a straight-line basis, and investment and administrative expenses. This method differs from the fair value method used to value investments because the amortized cost method is not designed to distribute to participants all unrealized gains and losses in the fair values of the pool’s investments.

Custodial Credit Risk

The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty to a transaction, the Board will not be able to recover the value of investments or collateral securities that are in the possession of an outside party. Investments are exposed to custodial credit risk if the securities are uninsured and unregistered and are either held by the counterparty or by the counterparty’s trust department or agent but not in the name of the Board.

At June 30, 2010, the reported amount of investments was $6,603.9 million. The SIF had no custodial credit risk exposure for these investments.

Interest Rate Risk
Interest rate risk is defined as the risk that changes in interest rates will adversely affect the fair value of investments. The weighted average maturity method is used to analyze interest rate risk and investment guidelines mandate that the weighted average maturity for the entire portfolio will not exceed one year. At June 30, 2010, the following table shows the investments by investment type, amount and the weighted average maturities (in millions):

Weighted Average Investment Fair Value

Bank NOW account deposits      $755.6
Repurchase agreements           $1,249.0
Government and agency          $4,599.0
Certificates of deposit                      $0.3
Mortgage backed securities        $331.0

Total                                       $6,603.9

(In millions, The State Investment Fund has $6.603 Billion Dollars in investments)

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(Page 95)

4. Lottery Investments and Related Future Prize
Obligations

Investments of the State Lottery Fund totaling $64.0 million are held to finance grand prizes payable over a 20-year or 25-year period. The investments in prize annuities are debt obligations of the U.S. government and backed by its full faith and credit as to both principal and interest. Liabilities related to the future prize obligations are presented at their present value and included as Accounts Payable and Other Accrued Liabilities.

(in thousands, there is $64 Million Dollars in investments in the “Lottery Fund”)

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(Page 128)

G. Arbitrage Rebate
The Tax Reform Act of 1986 requires that governmental entities issuing tax-exempt debt subsequent to August 1986, calculate and rebate arbitrage earnings to the federal government. Specifically, the excess of the aggregated amount earned on investments purchased with bond proceeds over the amount that would have been earned if the proceeds were invested at a rate equal to the bond yield, is to be rebated to the federal government. As of June 30, 2010, a liability for arbitrage rebate did not exist.

(Though it didn’t happen in fiscal year 2010, some investment income called “arbitrage” is given to the Federal Government as a penalty (tax) for making what you might call other than legal investment returns.)

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(Page 142)

NOTE 19. SELF-INSURANCE
It is the general policy of the State not to purchase commercial insurance for the risks of losses to which it is exposed. Instead, the State believes it is more economical to manage its risks internally and set aside assets for claim settlement in its internal service fund, the Risk Management Fund. The fund services most claims for risk of loss to which the State is exposed, including damage to State owned property, liability for property damages and injuries to third parties, and worker’s compensation. All funds and agencies of the State participate in the Risk Management Fund.

Changes in the balances of claims liability for the Risk Management Fund during the current and prior fiscal years are as follows (in thousands):

-                                                                  2010               2009

Beginning of fiscal year liability      $103,119         $95,000

Current year claims and changes
in estimates                                          $21,376          $41,508

Claim payments                                  (28,278)         (28,089)
-                                                      _____________________

-                                                              $96,217          $108,419

Excess insurance reimbursable        (1,370)            (5,300)
-                                                      _____________________

Balance at fiscal year-end       $94,847       $103,119

(In thousands, the Risk Management Fund used for lawsuits against the state and for worker’s comp (taxpayer money in this fund) is 94.84 million dollars.)

————————————————————————————————————–

And now, listed here are the individual funds where much of this money is being hidden and invested. This is a list of all reported funds. A description of each fund can be found in the CAFR. Page numbers are listed as reference to those descriptions. Many of these funds grew (made a profit) for fiscal year 2010 over 2009 totals, some by millions of dollars (see balance sheet). Only the totals for each fund are listed here, as presented in the combining balance sheets following the descriptions of the funds within the 2010 CAFR. Some funds are grouped into total balances on the balance sheet, and these are notated as (see below).

————————————————————————————————————–

(Pages 169-182)

NONMAJOR GOVERNMENTAL FUNDS

SPECIAL REVENUE: Special revenue funds account for the proceeds of specific revenue sources that are legally restricted to expenditures for a specified purpose. The State’s special revenue funds are described below:

The Conservation Fund

–> $92,152,000

The Election Administration Fund

–> $16,244,000

The Utility Public Benefits Fund

–> $20,491,000

The Petroleum Inspection Fund

–> $14,132.000

The Wisconsin Public Broadcasting Foundation Fund

-> $12,393,000

The Celebrate Children Foundation Fund

–> $1,523,000

The Heritage State Parks and Forests Fund

–> (See Below)

The Waste Management Fund

–> (See Below)

The Environmental Fund

–> (See Below)

The Dry Cleaner Environmental Response Fund

–> (See Below)

The Recycling and Renewable Energy Fund

–> (See Below)

Total for above (5) funds listed as “Other Environmental Revenue Funds” above

- $87,843,000

OTHER SPECIAL REVENUE FUNDS – account for resources that must be used for specific purposes and include the following:

The Wisconsin Election Campaign

-> (See Below)

The Investment and Local Impact

-> (See Below)

The Industrial Building Construction Loan Fund

-> (See Below)

————-

(Page 170)

————-

The Self-insured Employers Liability Fund

-> (See Below)

The Work Injury Supplemental Benefit Fund

–> (See Below)

The Workers Compensation Fund

–> (See Below)

The Uninsured Employers Fund

–> (See Below)

The Mediation Fund

–> (See Below)

The Police and Fire Protection Fund

–> (See Below)

The State Capitol Restoration Fund

–> (See Below)

The Agricultural Chemical Cleanup Fund

–> (See Below)

The Agrichemical Management Fund

-> (See Below)

The Agricultural Producer Security Fund

–> (See Below)

The Historical Legacy Trust Fund

–> (See Below)

The History Preservation Partnership Trust Fund

–> (See Below)

The Wireless 911 Fund

–> (See Below)

The VendorNet Fund

–> (See Below)

The Universal Service Fund

–> (See Below)

The Children’s Trust Fund

–> (See Below)

Total for above (19) funds listed as “Other Special Revenue Funds”

-> $80,155,000

(Total Special Revenue Funds – $324,932,000)

————-

(Page 170)

————-

DEBT SERVICE FUNDS: Debt service funds account for the accumulation of resources for, and the payment of, principal, interest and related costs of general long-term obligations:

The Bond Security and Redemption Fund

-> $20,039,000

The Annual Appropriation Bonds

-> $33,905,000

The 2009 Annual Appropriation Bonds

-> $126,000

The Badger Tobacco Asset Securitization Fund

-> $8,564,000

The Petroleum Inspection Revenue Bonds Fund

–> $4,393,000

The Transportation Revenue Bonds Fund

–> $149,968,000

(Total Debt Service Funds – $216,994,000)

CAPITAL PROJECTS FUNDS: Capital projects funds account for financial resources used for the acquisition, construction, renovation or repair of major capital facilities (other than those financed by proprietary funds and trust funds). The State’s capital projects funds are described below:

The Building Trust

–> $24,775,000

The Capital Improvement Fund

–> $39,135,000

The Transportation Revenue Bonds Fund

–> $24,243,000

(Total Capital Projects Funds – $88,153,000)

PERMANENT FUNDS: Permanent funds are used to report resources
that are legally restricted to the extent that only earnings,
principal, may be used to support the State’s programs:

The Historical Society Fund –>

$9,400,000

The Other Permanent Fund accounts for various resources legal restrictions requiring that principal remain intact and earnings may be spent, including the following:

• The Agricultural College and University statutory funds

–> (See Below)

• The Normal School statutory fund

-> (See Below)

• The Benevolent statutory fund

–> (See Below)

Total for above (3) funds listed as “Other Permanent Funds”

-> $24,980,000

(Total Permanent Funds – $34,380,000)

—————————————————————————————-

(TOTAL NONMAJOR GOVERNMENTAL FUNDS – $664,459,000)

—————————————————————————————-

(Pages 183-191)

NONMAJOR ENTERPRISE FUNDS

ENTERPRISE FUNDS: Enterprise funds account for business-like State
activities that provide goods and/or services to the public and are
financed primarily through user charges. The State’s enterprise
funds are described below:

The Lottery Fund

–> $158,368,000

The Income Continuation Insurance Fund

–> $82,794,000

The Long-term Disability Insurance Fund

–> $218,977,000

The Health Insurance Fund

–> $216,313,000

The Veterans Trust Fund

–> $54,736,000

The Veterans Mortgage Loan Repayment Fund

–> $288,514,000

The Care and Treatment Facilities Funds - account for various
resident facilities including:

• The Mendota Mental Health Institute Fund

–> $31,804,000

• The Winnebago Mental Health Institute Fund

–> $26,047,000

• The Homes For Veterans Fund

–> (See Below)

• The Northern, Central, and Southern Developmental Disabilities Center Funds

–> (See Below)

Total for above (2) funds listed as “Other Care and Treatment Facilities”

-> $120,426,000

OTHER ENTERPRISE FUNDS: account for the following programs:

The State Fair Park Fund

–> (See Below)

The Institutional Farm Operations Fund

–> (See Below)

The Correctional Canteen Operations Fund

–> (See Below)

The Local Government Property Insurance Fund

–> (See Below)

The State Life Insurance Fund

–> (See Below)

The Transportation Infrastructure Loan Fund

–> (See Below)

The Life Insurance Fund

–> (See Below)

Total for above (7) funds listed as “Other Enterprise” funds

-> $248,093,000

——————————————————————————————————-

(TOTAL NONMAJOR ENTERPRISE FUNDS listed as “All Nonmajor Funds” – $1,446,072,000)

——————————————————————————————————-

(Pages 192-201)

INTERNAL SERVICE FUNDS

INTERNAL SERVICE: Internal service funds account for the operations of State agencies which render services to other State agencies, institutions, or other governmental units on a cost-reimbursement basis. The State’s internal service funds are described below:

The Technology Services Fund

–> $40,917,000

The Fleet Services Fund

–> $32,676,000

The Financial Services Fund

–> $3,143,000

The Facilities Operations and Maintenance Fund

–> $253,425,000

The Risk Management Fund

–> $9,223,000

The Badger State Industries Fund

–> $10,724,000

——————————————————————————————————-

(TOTAL INTERNAL SERVICE FUNDS listed as “totals” – $350,107,000)

——————————————————————————————————-

(Pages 202-212)

FIDUCIARY FUNDS

FIDUCIARY FUNDS: Fiduciary funds are maintained to account for assets held by the State acting in the capacity as a trustee or agent. The State’s fiduciary funds, consisting of pension and other employee benefit trust, investment trust, private-purpose trust, and agency funds, are described below:

PENSION AND OTHER EMPLOYEE BENEFIT TRUST FUNDS: Pension and other employee benefit trust funds are used to report resources that are required to be held in trust for members and beneficiaries of the public employee retirement system or other employee benefit plans:

The Wisconsin Retirement System Fund

–> $66,415,157,000

The Accumulated Sick Leave Fund

–> $-393,157,000 (Total assets listed at + $1,802,597,000)

The Duty Disability Fund

–> $334,828,000

The Reimbursed Employee Expense Fund

–> $1,108,000

The Local Retiree Life Insurance Fund

–> $225,553,000

The Retiree Life Insurance Fund

–> $353,669,000

——————————————————————————————————-

(TOTAL PENSION AND OTHER EMPLOYEE BENEFIT TRUST FUNDS listed as “Totals” – $66,937,157,000)

——————————————————————————————————-

INVESTMENT TRUST FUNDS: Investment trust funds account for assets invested on a commingled basis by the State on behalf of other governmental entities. The State’s investment trust funds are described below:

The Local Government Pooled Investment Fund

–> $2,490,278,000

The Milwaukee Retirement System Fund

–> $116,120,000

——————————————————————————————————-

(TOTAL INVESTMENT TRUST FUNDS listed as “Totals” –> $2,606,398,000)

——————————————————————————————————-

PRIVATE-PURPOSE TRUST: Private-purpose trust funds are used to report all other trust arrangements under which principal and income benefit individuals, private organizations, or other governments:

The Tuition Trust Fund

–> $8,473,000

The BadgerRx for Individuals Fund

–> $177,000

The College Savings Program Trust Fund

–> $2,247,475,000

The Retiree Health Insurance Fund

–> $9,556,000

——————————————————————————————————-

(TOTAL PRIVATE-PURPOSE TRUST FUNDS listed as “Totals” – $2,265,681,000)

——————————————————————————————————-

AGENCY FUNDS: Agency funds report those assets for which the State acts solely in a custodial capacity. The State’s agency funds are described below:

The Insurance Company Liquidation Account Fund

–> $720,000

The Local Retiree Health Insurance Fund

–> $2,156,000

The Inmate and Resident Fund

–> $16,711,000

The Bank and Insurance Company Deposits Fund

–> $303,730,000

The Support Collection Trust Fund

–> $11,521,000

——————————————————————————————————-

(TOTAL AGENCY FUNDS listed as “Totals” – $334,837,000)

——————————————————————————————————-

——————————————————————————————————-

END OF REPORT

——————————————————————————————————-

Again, the above information is taken from the State of Wisconsin’s Comprehensive Annual Financial Report for fiscal year ending June 30, 2010.

Going through these reports is the only way to get a grasp on the amount of wealth your local, county, or state government has in its hidden funds and investments.

Please do not let my efforts go to waste! This needs to be seen by all taxpaying citizens, no matter what state they reside in. This is a blueprint for most or all state governments. If you stay silent about this, you are giving your consent to this crime.

Silence is consent.

Confront your legislators.

Ask questions. Demand answers.

Get a rope…

.

Please go to these other websites for more information on CAFR’s:

TheCorporationNation.com

CAFR1.com

.

–Clint Richardson (realitybloger.wordpress.com)

Tuesday, March 1, 2011

Who Owns America?


Nothing is as it seems…

Somehow, we have all been conditioned to believe that what once was shall always be. We believe that we are a free people, guaranteed our God-given rights declared in the constitution. We believe that when we vote, we are electing representatives of we the people, whom once elected become public servants. We believe that the house in which we live and the land on which we settle is our land, free and clear of our government’s tentacles. And we believe that the laws for which we allow ourselves to be governed by come from a legitimate law making body, with checks and balances and constitutional oversights.

But what if the above perceptions are in fact false?

And what if the reality is that the United States doesn’t even exist at all?

What indeed…

According to Executive Order 12803, signed by George H.W. Bush in 1992, The District Of Columbia – Washington D.C. (neither a state nor a part of the United States) was given the authority to privatize most or all of the infrastructure within the United States. This means that the federal government, or the corporation that acts in lieu of a federal government, can sell any city’s “assets” which were built with tax-payer monies including:

· Roads
· Tunnels
· Bridges
· Electricity supply facilities
· Mass transit
· Rail transportation
· Airports
· Ports
· Waterways
· Recycling/wastewater treatment facilities
· Solid waste disposal facilities
· Hospitals
· Prisons
· Schools
· Housing

E.O. 12803 lists the above as examples of America’s salable and/or lease-able infrastructure. But this is not to be taken as a complete list, as these are just some examples.

E.O. 12803 names this authority in its destructive pages as “Infrastructure Privatization” and states that this power allows for the “…disposition or transfer of an infrastructure “asset” such as by sale or by long-term lease from a State or local government to a private party.

In a previous blog article, I compared the 10 planks of the Communist Manifesto with various Executive Orders, Presidential Directives, Acts of Congress, and other legislation which, under a declared state of emergency (martial law) would put the very items listed above under immediate government control, ensuring the continuity of government (corporate rule). Read here: https://realitybloger.wordpress.com/2010/04/25/the-united-states-communist-manifesto/

If we then understand that America’s infrastructure has now been available for sale to foreign nations for 18 years, when E.O. 12803 was signed into law by the treasonous Bush family cartel, we might then get a picture of why everything seems to be getting so expensive and corrupt.

No longer should we be asking why our phone, electric, gas, water, sewage, waste management, tollways, parking meters, public transit, hospital bills, and general operating budgets keep going up-up-up in price… What we should be asking is who owns these once public utilities?

Is it possible that China owns the sewers? Can Mexico actually own our tollways and roads. Is Russia the proud new owner of Nevada?

These are the questions we should be asking…

And when one considers that “Housing” is one of the listed “assets” in the government’s list of examples, one must then ask whether the continued accounts of foreign troops practicing martial law drills across the country might be construed as foreign troops practicing takeover of the land for which they now own. After all, the real estate industry has recently been privatized into government hands. Is it not reasonable to assume that our “housing” includes the land for which those houses call home? And, knowing that your title or deed (you should read yours, especially the small print) states that you do not own the land or home you live in, that you are the tenant, and that it can be taken at any time by the corporate government through eminent domain for any reason, one must ask what will happen when China wants to claim the land for which it has purchased or been given in payment of the national debt.

Are Mexicans illegal immigrants if they are living on Mexico’s land purchased from under our noses through government deed? Could the push in recent years for a multi-cultural mindset and global population in the United States simply be to acclimatize us for the reality of America’s sale and eventual take-over from these foreign entities?

We know that many of our interstates and roadways are already sold. We know that they are part of the N.A.F.T.A. system of inter-continental transport controlled through United Nations sanctions. And we know that Mexico gets tolls that are paid in the United States. So, if these roads are no longer in the public trust, instead being held by private corporations or foreign countries, where do our taxes go that have historically paid for the building and maintenance of this infrastructure? Are we paying taxes for not? Or are we giving our money to non-governmental and foreign corporations?

Why doesn’t the government actually fix the health-care system and start enforcing the safety regulations that supposedly apply to the health-care industry? Perhaps these hospitals aren’t on American soil anymore. Or perhaps the whole codified system of rules and legalities don’t mean a hill of beans. And isn’t it amazing and suspicious that most of our hospitals are packed full of foreign doctors?

Private prisons are plentiful, many owned by Halliburton subsidiary Kellogg, Brown and Root (KBR). Old Dick Cheney must be so proud of his legacy of the privatized prison labor business. And with more than 1% of our population in prison, business is booming. But how does one know if one is still in an American prison, with all of the rights and protections accorded thereof? Is rendition simply taking an American citizen to a foreign-owned prison on foreign land inside of America? So many questions can be answered by applying this Executive Order to the equation…

And finally, are our public schools being sold off to the highest bidder? This should frighten anyone with any sense of behavioral modification and the early childhood educational programing that takes place in our schools today. Considering the multi-cultural bias in most and the allowance of Spanish as a first language in some schools, we good little citizens must pause and wonder if our natural-born children aren’t indeed attending a foreign school in the middle of America!

These are scary thoughts indeed. But we should be asking these questions, and demanding answers for them. For at this point, if it is true that the United States of America ceased to exist long ago, then we have no legitimate government. We are in actuallity living in a fictitious corporate state opperating under the illusion of freedom and democracy, with no constitution in sight. Our independence is gone, as is our sovereignty. We are a people with no homeland. We have been sold out by our “trusted leaders”.

In reality, the international banks and the International Monetary Fund (IMF) is our government.

Here are a few other facts about the United States, referenced and stated simply. Check them yourself. And for more intense reading on these subjects, go here: http://www.civil-liberties.com/books/index.html

The following list was copied from here: http://home.iae.nl/users/lightnet/world/essays.htm

1. The IRS is not a U.S. Government Agency. It is an Agency of the IMF. (Diversified Metal Products v. IRS et al. CV-93-405E-EJE U.S.D.C.D.I., Public Law 94-564, Senate Report 94-1148 pg. 5967, Reorganization Plan No. 26, Public Law 102-391.)

2. The IMF is an Agency of the UN. (Blacks Law Dictionary 6th Ed. Pg. 816)

3. The U.S. Has not had a Treasury since 1921. (41 Stat. Ch.214 pg. 654)

4. The U.S. Treasury is now the IMF. (Presidential Documents Volume 29-No.4 pg. 113, 22 U.S.C. 285-288)

5. The United States does not have any employees because there is no longer a United States. No more reorganizations. After over 200 years of operating under bankruptcy its finally over. (Executive Order 12803) Do not personate one of the creditors or share holders or you will go to Prison.18 U.S.C. 914

6. The FCC, CIA, FBI, NASA and all of the other alphabet gangs were never part of the United States government. Even though the “US Government” held shares of stock in the various Agencies. (U.S. V. Strang, 254 US 491, Lewis v. US, 680 F.2d, 1239)

7. Social Security Numbers are issued by the UN through the IMF. The Application for a Social Security Number is the SS5 form. The Department of the Treasury (IMF) issues the SS5 not the Social Security Administration. The new SS5 forms do not state who or what publishes them, the earlier SS5 forms state that they are Department of the Treasury forms. You can get a copy of the SS5 you filled out by sending form SSA-L996 to the SS Administration. (20 CFR chapter 111, subpart B 422.103 (b) (2) (2) Read the cites above)

8. There are no Judicial courts in America and there has not been since 1789. Judges do not enforce Statutes and Codes. Executive Administrators enforce Statutes and Codes. (FRC v. GE 281 US 464, Keller v. PE 261 US 428, 1 Stat. 138-178)

9. There have not been any Judges in America since 1789. There have just been Administrators. (FRC v. GE 281 US 464, Keller v. PE 261 US 428 1Stat. 138-178) 10. According to the GATT you must have a Social Security number. House Report (103-826)

11. We have One World Government, One World Law and a One World Monetary System. (Get the Disks)

12. The UN is a One World Super Government. (Get the Disks)

13. No one on this planet has ever been free. This planet is a Slave Colony. There has always been a One World Government. It is just that now it is much better organized and has changed its name as of 1945 to the United Nations. (Get the Disks)

14. New York City is defined in the Federal Regulations as the United Nations. Rudolph Gulliani stated on C-Span that “New York City was the capital of the World” and he was correct. (20 CFR chapter 111, subpart B 422.103 (b) (2) (2)

15. Social Security is not insurance or a contract, nor is there a Trust Fund. (Helvering v. Davis 301 US 619, Steward Co. V. Davis 301 US 548.)

16. Your Social Security check comes directly from the IMF which is an Agency of the UN. (Look at it if you receive one. It should have written on the top left United States Treasury.)

17. You own no property, slaves can’t own property. Read the Deed to the property that you think is yours. You are listed as a Tenant. (Senate Document 43, 73rd Congress 1st Session)

18. The most powerful court in America is not the United States Supreme Court but, the Supreme Court of Pennsylvania. (42 Pa.C.S.A. 502)

19. The Revolutionary War was a fraud. See (22, 23 and 24) 20. The King of England financially backed both sides of the Revolutionary war. (Treaty at Versailles July 16, 1782, Treaty of Peace 8 Stat 80)

21. You can not use the Constitution to defend yourself because you are not a party to it. (Padelford Fay & Co. v. The Mayor and Alderman of The City of Savannah 14 Georgia 438, 520)

22. America is a British Colony. (THE UNITED STATES IS A CORPORATION, NOT A LAND MASS AND IT EXISTED BEFORE THE REVOLUTIONARY WAR AND THE BRITISH TROOPS DID NOT LEAVE UNTIL 1796.) Respublica v. Sweers 1 Dallas 43, Treaty of Commerce 8 Stat 116, The Society for Propagating the Gospel, &c. V. New Haven 8 Wheat 464, Treaty of Peace 8 Stat 80, IRS Publication 6209, Articles of Association October 20, 1774.)

23. Britain is owned by the Vatican. (Treaty of 1213)

24. The Pope can abolish any law in the United States. (Elements of Ecclesiastical Law Vol.1 53-54)

25. A 1040 form is for tribute paid to Britain. (IRS Publication 6209)

26. The Pope claims to own the entire planet through the laws of conquest and discovery. (Papal Bulls of 1455 and 1493)

27. The Pope has ordered the genocide and enslavement of millions of people.(Papal Bulls of 1455 and 1493)

28. The Popes laws are obligatory on everyone. (Bened. XIV., De Syn. Dioec, lib, ix., c. vii., n. 4. Prati, 1844)(Syllabus, prop 28, 29, 44)

29. We are slaves and own absolutely nothing not even what we think are our children.(Tillman v. Roberts 108 So. 62, Van Koten v. Van Koten 154 N.E. 146, Senate Document 43 & 73rd Congress 1st Session, Wynehammer v. People 13 N.Y. REP 378, 481)

30. Military Dictator George Washington divided the States (Estates) into Districts. (Messages and papers of the Presidents Vo 1, pg. 99. Webster’s 1828 dictionary for definition of Estate.)

31.” The People” does not include you and me. (Barron v. Mayor & City Council of Baltimore. 32 U.S. 243)

32. The United States Government was not founded upon Christianity. (Treaty of Tripoli 8 Stat 154.)

33. It is not the duty of the police to protect you. Their job is to protect the Corporation and arrest code breakers. Sapp v. Tallahasee, 348 So. 2nd. 363, Reiff v. City of Philadelphia, 477 F.Supp. 1262, Lynch v. N.C. Dept of Justice 376 S.E. 2nd. 247.

34. Everything in the “United States” is For Sale: roads, bridges, schools, hospitals, water, prisons airports etc. I wonder who bought Klamath lake. Did anyone take the time to check? (Executive Order 12803)

35. We are Human capital. (Executive Order 13037)

36. The UN has financed the operations of the United States government for over 50 years and now owns every man, women and child in America. The UN also holds all of the Land in America in Fee Simple. (Get the Disks for the Essay and Documents.)

37. The good news is we don’t have to fulfill “our” fictitious obligations. You can discharge a fictitious obligation with another’s fictitious obligation. (Get the Disks)

38. The depression and World War II were a total farce. The United States and various other companies were making loans to others all over the World during the Depression. The building of Germanys infrastructure in the 1930′s including the Railroads was financed by the United States. That way those who call themselves “Kings,” “Prime Ministers,” and “Furor.”etc could sit back and play a game of chess using real people. Think of all of the Americans, Germans etc. who gave their lives thinking they were defending their Countries which didn’t even exist. The millions of innocent people who died for nothing. Isn’t it obvious why Switzerland is never involved in these fiascoes? That is where the “Bank of International Settlements” is located.Wars are manufactured to keep your eye off the ball. You have to have an enemy to keep the illusion of “Government” in place. (Get the Disks and see the Documents for yourself.)

39. The “United States” did not declare Independence from Great Britain or King George. (Get the Disks for Documents and Essay.)

40. Guess who owns the UN? The disks have many more cites including Hundreds of Documents to verify the 40 statements above and numerous other facts. The Disks also include numerous Essays written by Stephen Ames and several other people that fully explain the 40 above mentioned facts. The Disks will clear up any confusion and answer any questions that you may have. The cites listed above are only the tip of the iceberg. Also included on the Disks are several hundred legal definitions because without them it is next to impossible for the non-lawyer to understand many of the Documents. Simple words such as “person” “citizen” “people” “or” “nation” “crime” “charge” “right” “statute” “preferred” “prefer” “constitutor” “creditor” “debtor” “debit” “discharge” “payment” ‘law” “United States” etc, do not mean what most of us think because we were never taught the legal definitions of the proceeding words. The illusion is much larger than what is cited above.

There is no use in asking an Attorney about any of the above because: “His first duty is to the courts…not to the client.” U.S.v Franks D.C.N.J. 53F.2d 128. “Clients are also called “wards of the court” in regard to their relationship with their attorneys.”Spilker v. Hansin, 158 F.2d 35, 58U.S.App.D.C. 206. Wards of court. Infants and persons of unsound mind. Davis Committee v. Lonny, 290 Ky. 644, 162 S.W.2d 189, 190. Did you get that? An Attorneys first duty is not to you and when you have an Attorney you are either considered insane or an infant.

Clint Richardson (realitybloger.wordpress.com)
Sunday, May 9, 2010
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