> > Sent: Thursday, March 15, 2001 11:47 AM
> > Subject: [odpositive] The BIGGEST Secret
> >
> >
> > > CAFRs: The BIGGEST Secret -
> > > $60 Trillion Invested By
> > > Fed, State, & Local
> > > Governments!
> > > 6-30-00
> > >
> > >
> > >
> > > Reported - but for all purposes HIDDEN from American taxpayers -
Local,
> > > State and Federal governments currently hold about 60+ trillion
dollars
> of
> > > profitable investments in real estate, pension funds, insurance
> companies,
> > > liquid investment funds, bond financing accounts and corporate stock
> > > portfolios (32 Trillion) over 53% of America's stock market, and a
large
> > > percentage of the international stock market, etc., are all revealed
in
> > > their required filing of CAFRs (Comprehensive Annual Financial
Reports)
> > and
> > > noted reports therein.
> > >
> > > Walter Burien, who has been blowing the whistle on this gargantuan
scam,
> > > says, "Americans OWN the majority of America's WEALTH and don't know
> it."
> > > With the profits rolling in from international investments, you now
know
> > the
> > > true motive behind NAFTA and GATT.
> > >
> > > * Calling it "risky" to allow taxpayers to invest a tiny 2% of their
> > social
> > > security in the stock market is laughable when our governments ALREADY
> > have
> > > 32 Trillion dollars invested in the same "risky" domestic and
> > international
> > > stock markets!
> > >
> > > * The Six Trillion plus "estimated surplus" going into the year 2004
> > > announced by Clinton is also laughable compared to the additional
> > trillions
> > > of "surplus" earnings being added yearly to government composite
CAFRs.
> > >
> > > * If those hidden assets are revealed and used, the Social Security
and
> > > Medicare Trust Funds will never run out.
> > >
> > > * When Orange County lost a little over $1 billion in derivatives
> > > investments, they were crying "poverty" and threatening to shut down
> > > schools, police would have to be laid off etc. However someone dug
into
> > the
> > > Orange County CAFR and found out that the county had about $16 billion
> in
> > > profitable investments! The county, from their profitable liquid
> > investment
> > > funds / cash position could have continued performing the same
services,
> > > without collecting one dime in taxes, and could have done so for
another
> > > 11.9 years from the existing funds prior to running out of money! The
> > crying
> > > stopped.
> > >
> > > * While he was a Mayor, Jesse Ventura's city council wanted to raise
> > > $360,000 in taxes to cover a short fall on their "city budget for
> > schools."
> > > Ventura objected when he discovered the city owned $48,000,000 in idle
> > > investments funds from which the $360,000 could be drawn from without
> > > raising taxes!
> > >
> > > * Burien estimates that the yearly earnings on the composite CAFR
> > > investments and venture/enterprise projects are so enormous, ALL taxes
> in
> > > most communities in the United States could be phased out and
eliminated
> > in
> > > the foreseeable future. For example, Property Taxes... Burien informed
> me
> > > that In Mesa, Arizona, the Mormons running the City government have
> > > structured to use their CAFR earnings. On a $230,000. home in Mesa,
> owners
> > > pay only $230. a year, and the city offers the best services to it's
> > > residents by operating the majority of city functions from the return
> from
> > > the investment funds. (cities investment fund totals, 1998, 1.7
billion
> > > dollars, yielding about $225,000,000.00 which when applied, eliminates
> the
> > > need for forced taxation! This is BASIC 101 application, so why don't
we
> > > hear about it? I don't think I have to answer that question, the
answer
> is
> > > obvious, Control, Greed, Power Mongering, Empire Building for the
inside
> > > Players!!!
> > >
> > > Starting as of September 8, 1998, Walter Burien, a prior Commodities
> > Trading
> > > Advisor, has been exposing the CAFR, the BIGGEST FINANCIAL SCANDAL in
> U.S.
> > > HISTORY, going on for over 55 years starting in 1945.
> > >
> > > Participating in the Comprehensive Annual Financial Report (CAFR)
double
> > > book accounting strategy which reeks with scandal, are nearly all
> Federal,
> > > State and local governments, earning unreported on the traditional
> Budget
> > > Reports hundreds of billions each year held in separated from the
> "Budget"
> > > slush funds. The CAFRs are mostly controlled by about 40 international
> > > investment management companies. For example, in 1998, Burien found:
> > >
> > > 1. Stock ownership, composite totals...............= to: $32 Trillion
+
> > > 2. Insurance Company equity participation...... = to: $8 Trillion+
> > > 3. Bond surety investment accounts................. = to: $5.5
Trillion+
> > > 4. Totals from all liquid investment funds.......... = to: $60
Trillion
> > >
> > > --------------------------
> > >
> > > The following interview with Walter Burien is from The SPOTLIGHT
> newspaper
> > > of May 8, 2000, published in Washington, D.C.
> > >
> > > Page 12.... (Following the article below you will find a large number
of
> > > URLs, with brief summaries, giving additional information about the
CAFR
> > > scandal.
> > >
> > > Secret Government Slush Funds WorthTrillions Of Dollars Not Reported
By
> > > Major Media
> > >
> > > For the last two years, The SPOTLIGHT has been reporting on the
> > > investigative work of veteran commodities investment advisor Walter
> Burien
> > > (originally of New Jersey, now based in Arizona) after Burien first
> > appeared
> > > on Radio Free America, The SPOTLIGHT'S weekly call-in talk forum with
> host
> > > Tom Valentine.
> > >
> > > What follows is a transcript of the interview with Burien. Valentine's
> > > questions are in boldface. Burien's responses are in regular text.
> > >
> > > A transcription of your first appearance on Radio Free America was
> > published
> > > in The SPOTLIGHT on June 29, 1998. Since that time, you've been heard
on
> > > other forums all over the country.
> > >
> > > Some 35 million people across the country have started to catch wind
of
> > the
> > > reality of the name of the game. There are action groups starting all
> over
> > > the country working to pull the plug on what I call "the boys."
> > >
> > > Please summarize what the Comprehensive Annual Financial Report (CAFR)
> > > scandal is all about.
> > >
> > > I'll start off with the No. 1 basic point, that I learned 10 years
ago.
> Up
> > > until I learned about the CAFR and the true revenue structure of
> > government,
> > > I always thought that government survived only through income from
> taxes,
> > > fines and fees. I thought that 100 percent of government revenue came
> from
> > > these sources.
> > >
> > > However, when I started looking at the revenue flow as documented in
the
> > > CAFRs, I saw that only one-third of the government's revenue comes
from
> > > taxes, fines and fees.
> > >
> > > Two thirds of the revenue comes in from the return on the investment
> > funds,
> > > enterprise (profit-making) projects which have no tie with the
budgetary
> > > basis and venture projects which they have established.
> > >
> > > The budgetary basis of government operates almost 100 percent from
> taxes,
> > > fines and administrative fees.
> > >
> > > However, the budgetary basis is simply their annual operating costs.
> What
> > > they fail to include for disclosure to the public are the decades and
> > > decades of invest- merit wealth that is building up, such as New
> Jersey's
> > > Garden State Parkway and the Port Authority of New York-New Jersey,
> which
> > > generate billions and billions of dollars not one dollar of which goes
> > back
> > > to support the budgetary basis of the state of New Jersey for example.
> > >
> > > The bottom line is that the public left the vault door open.
> > >
> > > ---------
> > > If the public gets together and focuses 100 percent and unifies on
> > > this issue, taxation can be eliminated in its entirety in most places
> > around
> > > the country.
> > > ----------
> > > Yet, the public is constantly being asked to pay more new taxes to
> > maintain
> > > the operating budgets of their states, counties and cities, not to
> mention
> > > the federal government. There's a lot of money there that people don't
> > know
> > > about, and much of it is invested in the stock market.
> > >
> > > The truth is that the government IS the stock market. Approximately
$32
> > > trillion is invested by government entities in the equities market.
> > >
> > > If people were to quiz the state of New Jersey, as your example, about
> all
> > > of this money that they have stashed away in investments and other
slush
> > > funds, wouldn't the state respond by saying, "Well, it's our
> > responsibility
> > > to preserve and protect this money for the people's futures."?
> > >
> > > If you approached Al Capone and asked him about the billions of
dollars
> he
> > > made in his racketeering activities, he would respond, "Well, I have a
> > > fiscal responsibility to protect that money." Capone also made sure to
> > keep
> > > his criminal funds separate from his legitimate businesses. He had two
> > sets
> > > of books.. That's what the CAFR scandal is really all about: The fact
> that
> > > governments keep two sets of books and don't tell the taxpayers about
> it.
> > >
> > > Yes, it is a matter of non-disclosure. But now that people are
starting
> to
> > > learn about it, are they doing something about it?
> > >
> > > The thing to remember is that the major media are in 100% partnership
> with
> > > government in regard to non-disclosure of this "two-sets-of books"
setup
> > in
> > > which trillions of dollars in investments and government-sponsored
> > > money-making enterprises continue to make vast profits, even as the
> > > taxpayers are being asked to pay more in taxes to maintain the
budgetary
> > > basis of government which is maintained separately.
> > >
> > > People have sent certified letters to local newspapers and news
programs
> > > asking that conspicuous mention be made of the CAFR This has happened
> all
> > > over the country and in virtually every case there have been refusals
> > except
> > > in a few small, privately-owned newspapers.
> > >
> > > There are 54,000 different state, county, local government entities,
> > > including school districts, public authorities, etc. There are
probably
> > less
> > > than 200 different firms or money managers who are handling about 95
> > percent
> > > of all of the funds invested by these government entities. There are
> > > probably 40 "megabrokers" involved at the top.
> > >
> > > The managers who are handling thousands of different government
> operations
> > > could network together and use those funds to take over a corporation
or
> > > industry group. The insurance companies are holding a phenomenal
amount
> of
> > > government investments.
> > >
> > > A lot of people hearing this for the first time might be inclined to
say
> > > "Oh, this can't be true," (particularly if they haven't investigated
for
> > > themselves). But many people have heard about the infamous bankruptcy
of
> > > Orange County, Calif. What they haven't heard is the truth about that
> > > bankruptcy. Please tell us about it.
> > >
> > > Well, Orange County lost a little over $1 billion in derivatives
> > investments
> > > and they were crying "poverty" and threatening to shut down schools,
and
> > > that the police would have to be laid off etc. However someone dug
into
> > the
> > > Orange County CAFR and found out that the county had about $16 billion
> in
> > > profitable investments.
> > >
> > > Anthony Hargis, an economist from California, has looked at the CAFRs'
> > cash
> > > position and liquid investment assets, and he had determined how long
a
> > > government can operate without plucking one dollar from taxes, fines
or
> > fees
> > > and still perform the exact same services from their existing cash
> > position.
> > >
> > > At the time Orange County was crying poverty, Hargis determined that
> they
> > > could have gone on for another 11.9 years without collecting one dime
in
> > > taxes and still be be able to perform the same services before they
ran
> > out
> > > of money.
> > >
> > > Most government officials, when confronted, play the "mute" routine
and
> > say
> > > they haven't heard about the CAFR or the questions that are being
> raised,
> > or
> > > they say, "Well, I'LL look into it."
> > >
> > > The bottom line is that the game for the last 35 years was not
> disclosing
> > > this principle of governmental operation.
> > >
> > > The CAFR was created by a group called the Government Financial
Officers
> > > Association (GFOA) in 1940. The city of New York was one of the first
> > large
> > > entities to compile a CAFR, roughly in 1951. In 1981 the federal
> > government
> > > mandated that all local governments have to prepare a CAFR or, in the
> > > alternative, a Combined Financial Statement. Both June 30 & end of the
> > year.
> > >
> > > The federal government was having a hard time tracking down the
revenues
> > from
> > > local governments because there were a lot of games being played. So
> they
> > > consolidated things into a standard reporting basis.
> > >
> > > Since we started exposing the CAFR two years ago, the GFOA has changed
> the
> > > policy on the CAFR for the combined financial section. Prior to 1999,
> the
> > > government entities had to report all of their revenues on the
combined
> > > financial column. They've now changed it to where the government body
> has
> > to
> > > report all revenue necessary to meet obligations.
> > >
> > > What it comes down to is that you have an interlocking syndicate of
"the
> > > boys" who are controlling all this wealth. The more wealth they
control,
> > the
> > > more powerful they feel.
> > >
> > > Is there something we can do about all this?
> > >
> > > There is corrective action that can be taken. If the public gets
> together
> > > and focuses 100 percent and unifies on this issue, taxation can be
> > > eliminated in its entirety in most places around the country. In fact,
a
> > > situation can be created where, with prudent management in government,
> > > citizens could actually start receiving dividend checks from their
> > > respective governments.
> > >
> > > I hear the words "conspiracy" used in reference to this and people
refer
> > to
> > > these hidden funds as being "stolen," but really the fact is that the
> > public
> > > simply left the vault door open. However, most people would still say,
> > "Huh?
> > > What vault?" Picture what would happen in your hometown if the local
> bank
> > > left the vault door open and all the cash out and the front door to
the
> > bank
> > > open.
> > >
> > > If a thousand people walked by, some people would try to close the
door
> to
> > > the bank. A lot of people would call the bank and tell them that they
> had
> > > left their door open and the cash unguarded.
> > >
> > > All it would take would be for five individuals out of the 1,000
walking
> > by
> > > to say, "Well, everyone is talking about the door being open. Let's
just
> > go
> > > in and grab the money and run." The public has allowed that five out
of
> > > 1,000 to step in and take over.
> > >
> > > (End)
(The following is from an inset box bottom of first page)...
> > >
> > > Valiant Patriot Just Won't Give Up
> > >
> > > Walter Burien has documented beyond question that thousands of
billions
> of
> > > dollars are in state, local and federal government investment slush
> funds
> > > that have been kept secret from the taxpayers, even as taxes are being
> > hiked
> > > and citizens are being told to expect less in government services.
> Burien
> > > determined and has proven that all of the evidence of such funds can
be
> > > found in official government reports, known as the Comprehensive
Annual
> > > Financial Reports (CAFRs).
> > >
> > > Stimulated by Burien's revelations, citizens across the country have
> begun
> > > to procure and inspect their own respective state, county, city and
> school
> > > district CAFRs for themselves and are discovering vast amounts of
money
> > that
> > > the taxpayers in those communities have never been told about by their
> > > elected government officials.
> > >
> > > Thus far no one anywhere has been able to refute Burien's allegations
> and,
> > > at the same time, public officials and the mainstream media have
almost
> > > unanimously refused to address the issue when challenged
> > >
> > > Previous SPOTLIGHT reports on Burien's work have appeared on June 29,
> > 1998,
> > > Aug. 17, 1998, July 26, 1999 and Nov. 8, 1999. A packet of photocopies
> of
> > > all of the previous articles on Burien's CAFR investigation can be
> ordered
> > > from The SPOTLIGHT for $10 by writing:
> > >
> > > The SPOTLIGHT,
> > > 300 Independence Ave., SE,
> > > Washington , D.C. 20003.
> > >
> > > Burien returned to RFA on March 26 and provided Valentine with an
update
> > on
> > > his activities and announced the availability of a new videotape which
> > > summarizes the CAFR scandal.. The video tape is available for $14 from
> > > CEVI,
> > > P.O. Box 11444,
> > > Prescott, Ariz. 86304.
> > > Burien has released all rights to the video and is encouraging people
to
> > reproduce
> > > the video at their own expense. Burien may be reached by email at
> > cafr1@a...
> > >
> > > --------------------------------------------------------
> > >
> > > (Following are URLs with additional information on the CAFR
scandal)...
> > >
> > > Biggest Financial Scandal (CAFR) in US History Revealed on TV...
> 1-6-2000
> > > News Release from Walter Burien carried on Jeff Rense's SIGHTINGS
> website.
> > > Dayton, Ohio DATV aired expose Jan. 12, 21, and 28. Program will also
> air
> > in
> > > Cincinanati and Columbus, Ohio. "THE BIGGEST GAME IN TOWN." "Americans
> OWN
> > > the majority of America's WEALTH and don't know it."
> > >
> > >
> > > This URL for complete report:
> > http://www.sightings.com/politics6/scandal.htm
> > >
> > > CAFR SHOCKER - TRILLIONS Said Hidden By Cities, Counties, States, And
> > > Feds... 12-13-98 Reff Rense SIGHTINGS website interview with Walter
> Burien
> > > about the Comprehensive Annual Report scandal. Some highlights: * As a
> > > Mayor, Jesse Ventura, when his city council wanted to raise $360,000
in
> > > taxes to cover a short fall on their "city budget for schools" Ventura
> > > objected when he discovered the city owned $48,000,000 in investments
> > funds.
> > > * "Poor"Arkansas... state, cities and counties have composite
> investments
> > of
> > > 26-28 Billion. State cash EARNINGS alone in 1996, 1.9 Billion. * For a
> > > comparison, the personal income from everyone in the USA (pre tax
1996)
> is
> > =
> > > to 6.5 Trillion. At time of this 1998 interview Burien discovered our
> > > governments held 60 Trillion + of profitable investments, earning
> > > multi-Billions of dollars.. for all intents and purposes hidden from
the
> > > public.
> > >
> > >
> > > This URL for complete interview:
http://www.sightings.com/ufo2/cafr.htm
> > >
> > > State, County, And Local Governments Hide Trillions - CAFR Update...
On
> > Jeff
> > > Rense's SIGHTINGS website 6/7/99, an updated report by Walter Burien
on
> > the
> > > (CAFR) Comprehensive Annual Financial Report scandal. Some highlights:
*
> > > 1997 state of Texas composite governments owned investments of 8.3
> > > Trillion.... $275,000 in surpluses for every man, woman and child in
the
> > > state. * Nationally... Composite Governments funds now own 71% of
Xerox
> > > Corp., 41% of AT&T, 57% of Motorola. * Composite government pension
> funds
> > =
> > > 28 trillion dollars.
> > >
> > >
> > > This URL for complete report:
> > > http://www.sightings.com/politics2/hidetrill.htm
> > >
> > > States Hide Trillions of Dollars By Keeping Different Sets of Books...
> > > Another article with Walter Burien explaining the (CAFR) Comprehensive
> > > Annual Financial Report scandal in THE SPOTLIGHT of 6/12/1998,
reprinted
> > on
> > > Jeff Rense's SIGHTINGS website. Some highlights:
> > > * 53% of ALL outstanding stocks are owned by government.
> > > The Government IS the stock market.
> > > * In 1989 New Jersey there was a (needed?) 2.8 billion tax increase.
But
> > NON
> > > DISCLOSED to the public was how much cash the state brought in that
same
> > > year: $86,775,380,712. Nearly 87 BILLION earnings in their CAFR.
> > > * Through these investment funds, government has been taking over
> > "private" insurance
> > > and medical firms, etc.
> > > * The CAFR as a slush fund? Burien gives this example: "You call me up
> and
> > say:
> > > "My brother needs a $49 million unsecured loan in Argentina for a
sugar
> > cane
> > > development energy project," and I'd have a loosely-connected
subsidiary
> > company
> > > make the loan. Your brother defaults on the loan and walks away with
$49
> > million and
> > > the company writes it off. The payola that takes place here is
> > unfathomable.
> > > Any politician anywhere can be paid off anywhere around the world."
> > >
> > > This URL for complete article:
> > http://www.sightings.com/politics4/statehides.htm
> > >
> > > Government-Owned Cemetary Management... Walter Burien special report
on
> > the
> > > (CAFR) Comprehensive Annual Financial Report scandal carried on Jeff
> > Rense's
> > > SIGHTINGS website 10-12-99.
> > > * Hundreds of billions of dollars have been hoarded and squirreled
away
> > under
> > > Government owned (city, county, state and federal) Cemetary Plot Trust
> > (pension)
> > > management.
> > >
> > > This URL for complete report:
> > http://www.sightings.com/politics5/gvtcemetary.htm
> > >
> > >
> > > THE STATE OF ARIZONA HAS AT LEAST $13.45 BILLION IN POTENTIAL
> SURPLUSES...
> > > May 2000 report by CAFRman ( www.CAFRman.com ). From the extensive
> CAFRman
> > > website. With accompanying charts from Arizona's CAFR, CAFRman points
> out
> > > that because this HIDDEN (from the public) slush fund exists, any
> cutbacks
> > > of services or tax increases are totally unnecessary! This does not
> > include
> > > the other potential surpluses of school districts, cities, and/or
> counties
> > > in Arizona. Totals are much higher than the state's $13.45 Billion.
> > >
> > > This URL for complete report:
> > http://www.cafrman.com/Articles/Art-AZ-S1.htm
> > >
> > >
> > > Comprehensive Annual Financial Reports...
> > > By Walter Burien with a forward by
> > > Al Adask of Anti-Shyster.
> > >
> > > An amalgam of implications raised by Mr. Burien on the CAFR scandal
from
> > > telephone messages to Adask, Radio interviews with the SPOTLIGHT'S Tom
> > > valentine, Burien's Email, and an article on Mr. Burien written by
> "Betsy
> > > Ross." Some highlights: * Arizona in 1997, reported an Annual Service
> > Budget
> > > of $5.5 billion while the state's CAFR (printed by the Auditor
General's
> > > Office) showed total gross cash receipts of $17 billion. That's a
> > difference
> > > of over $11 billion. * CAFR reports indicate that the composite totals
> for
> > > all government (Federal, state, county and city) ownership of publicly
> > > traded stocks exceeds $32 TRILLION (53% of the total ownership of all
> > listed
> > > stocks), $8 TRILLION in insurance company equity (should we be
surprised
> > by
> > > high priced mandatory auto insurance or unaffordable health care?) and
> $5
> > > TRILLION in Bond Surety Escrow Accounts for future liability of
existing
> > or
> > > potential debt.
> > >
> > > This URL for complete report:
> http://www.financialprivacy.com/comprehe.htm
> > >
> > > The Citizens Investment Trust Account (CITA) - From Walter Burien...
An
> > > initiative Burien wrote for the city of Prescott, Arizona for the
better
> > use
> > > of the (now hidden) CAFR surpluses and reduction of taxes. Can be
> utilized
> > > for other Cities, Counties, or States. Reported on Jeff Rense's
> SIGHTINGs
> > > website 6/19/99.
> > >
> > >
> > > This URL for complete report:
http://www.sightings.com/politics4/cit.htm
> > >
> > > Additional letters, reports, including the CAFR of North Carolina...
> Some
> > > highlights: * The net for HIGHWAYS (alone) shows collections of 1
> Billion,
> > > 851 million, 464 thousand, 315 bucks. Question is where is all the
money
> > > going?
> > >
> > > This URL for complete report: http://www.coolmedia.net/ice/cafr-b.html
> > >
> > >
> > > Financial Reports of the United States Government... Consolidated
> > Financial
> > > Statements for the Years 1995 through 1999.
> > >
> > > This URL for complete report: http://www.fms.treas.gov/cfs/index.html
> > (Read
> > > the last section first. See what is excluded from the report)
> > >
> > >
> > > U.S. Comprehensive Annual Financial Reports - CAFRs By states
> > >
> > > These URLs for complete website: http://financenet.gov/state/cafr.htm
> > > http://financenet.gov/state/reports.htm
> > > http://www.rutgers.edu/Accounting/raw/gasb/rlinks/index.html
> > >
> > > Excerpts from another SPOTLIGHT article
> > >
> > > on Walter Burien and the CAFR (Comprehensive Annual Financial Report
> > > scandal). Some highlights: * Governments Awash in 'Secret cash." *
> Massive
> > > fraud against the American people. Untold trillions of dollars are
being
> > > invested by various government bodies both state and local without any
> > > mention of these investments to the public at large.
> > >
> > > This URL for complete report: http://www.coolmedia.net/ice/cafr-c.html
Research Sites
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$60 Trillion of your taxes invested !
- Are THIEVES in charge of your money they steal from you in taxes?
- Interest alone could run your governments without taxes !
- Why are there problems with education & health care ?
