CAFR1 REPLY TO DAVID SIROTA - IBTIMES - 09/23/14
- DAVID'S POST BELOW CAFR1 REPLY
David Sirota:
Want to rock the world and every corner
of New Jersey with a "basic" disclosure that has been
intentionally held back from the constituents of New Jersey
and every other local government constituent due to the
money and wealth involved?
The disclosure starts off with a
hypothetical question that has a definitive
answer.
The question is: If New
Jersey government was a public corporation and every
resident, man, woman, and child was an equal shareholder,
what would be the value of their shares strictly based on
liquid investment assets held by "all" local governments and
their operations in the state of New Jersey?
The answer to that question would floor
anyone and everyone.
No liquid investment assets in
the equation would be excluded. Every local
government and local government enterprise operation each
has their own holdings separate from each other. So, here we
would be looking at all cities, counties, school districts,
and enterprise operations. Examples of local; government
enterprise operations in NJ would be: NJ Turnpike, Parkway,
State Universities, Community Colleges, ports (sea and air),
recycling, dumps, water treatment, etc. Pension funds
either system or local government individually operated. NJ
on the State level has about 11 massive system funds and on
the local government level individually operated funds
totaling several hundred separate funds.
Being that there are several thousand
individual local government operations in NJ, the best
method is to first start on the county level with one county
say like Middlesex County, NJ. Identify all county
operations in the county, then the cities, township, school
districts, enterprise, pension fund participation with
system funds from each and separately managed funds from
local governments in the county.
Being that local governments like
to promote debt and rarely if ever discus total income and
investment assets held, the task can be daunting. I
note in this exercise debt should be excluded being that
most local governments over the decades have promoted debt
at the front door while at the same time they have utilized
their own investment assets to fund that same debt through
the back door. (gives them a parking zone for their wealth
held and a return on the same paid for by the taxpayer) You
may have the city funding the county's debt and the county
funding the city's debt or a plethora of inter-exchange
between the enterprise operations and their parent local
government. If a true connect the dots comparison was done
of all local government debt, I would be very confident that
over 65% of that debt was self funded in one way or another
with cross-matched local government investment
assets.
One thing that can be done to make this
task much easier to accomplish is using the accepted method
of "factoring" to get totals. An example of factoring as
used by cattle ranchers who have say 40,000 acres and an
unknown number of cattle, what they do is take a sample
count of set acreage blocks. Some level grasslands, some
hilly, some rocky. They then take the count per sample area
as noted, then account for the total acreage that is hilly,
flat, and rocky to determine a factored total of cattle on
their complete ranch.
For local governments in NJ, the
parameters per blocks can be population, medium income,
residential, or industrial etc. to establish the sampling
data to compile totals. This would work out well in general
per legered totals per small, average, and large local
governments in NJ inclusive with the enterprise operations
held by each. If doing a single county as mentioned like
Middlesex, the look and compiling of all can be more
precise. When doing for all local governments in the state,
factoring needs to be applied or the effort would be too
massive.
I did this for LA County in California a
few years back. The county had collectively from all county
investments held about 325 billion dollars and when all
local governments and their enterprise operations from
"within" the county were included, the total came out to be
about 1.8 trillion dollars.
Back in 1990, I did a review of New
Jersey utilizing factoring based on a selected demographic
model applied for the entire state, and the per resident
total came out to be about $575,000 per man, woman, and
child in the state, or a family of five, the value of the
family's shares "if" all local governments in New Jersey
totals were considered, would have been
$2,875,000
Like I asked you
earlier: "Want to rock the world and every corner
of New Jersey with "basic" disclosure" ? If your answer is
yes, than hit the Google search engine using quotes on the
search line to retrieve your target grouping of local
government CAFRs (Comprehensive Annual Financial Report);
AFRs (Annual Financial Report) ; AFS (Annual Financial
Statement); or Audit Report. ** Depending on the size of a
local government, they will produce one of the
before-mentioned each year. I note for each, the enterprise
operations will have their own separate report.
EXAMPLES OF A GOOGLE SEARCH FOR
LOCAL GOVERNMENT OPERATIONS IN: MIDDLESEX COUNTY
NJ:
Middlesex County College
- https://www.google.com/?gws_rd=ssl#q=%22Middlesex+County+College%22+NJ+%22Annual+Financial+Report%22
County of Middlesex NJ -
https://www.google.com/?gws_rd=ssl#q=%22County+of+Middlesex%22+NJ+%22Annual+Financial+Report%22
Google searches can be refined using
quotes on key phrases in the search line to find most local
government annual financial reports or audits in Middlesex
County.
Two things are accomplished by
doing this exercise. The scope and size is
qualified in which 99.9% of the population are oblivious too
(intentionally as such due to the massive money, insider
power, and deceptive nature of it all involved). Secondly,
it rocks the world of every individual who gets the
cognitive thought as to what has been taking place every
single day right under their own noses for their entire
lifetime. It becomes very obvious to them also that it would
not have been possible for this massive deception to take
place right under their noses without the full and
intentional cooperation, oversight, and intervention of and
by the syndicated media, controlled education, and the large
political parties to maintain the void of cognitive thinking
in and from the population. Again, scope and size is
qualified as to the participation of the inside players to
masterfully control the whole show DUE TO THE MASSIVE WEALTH
AND EASY MONEY INVOLVED.
So let us all rock the world with "the
basics" intentionally held back from us our entire lifetimes
due to the money involved. The real shaking of the mind is
when we all realize that taxation is not necessary to run
all local government budget requirements. Those budget
requirements can be clearly met without taxation by and
through restructuring government to utilize the investment
wealth through the fiduciary trust principle to meet and
match every single local government budget without taxation.
In doing so it also creates an environment that is very
productive for a prospering and thriving economy in every
one of those local venues. It is time for us all to decide
if we are slaves or partners to and with our local
governments.
At this end, I have, will, and shall
continue to make us all, one and all partners for all time
to come with our local governments utilizing the fiduciary
trust principle to meet all local government budgetary
needs. The TRFA (Tax Retirement Fund Association) is what I
am launching to accomplish that beginning. Work on the
National headquarters of the TRFA is underway. Operation of
the same is forthcoming. Will advise with progress reports
within future posts.
Please share and post this communication
with your contacts.
Truly yours,
Walter Burien - CAFR1.com
P.
O. Box 2112
Saint Johns, AZ 85936
Tel. (928)
458-5854
__________________________________
David Sirota's Newsletter
From: David Sirota,
IBTimes
Sender: "David Sirota,
IBTimes"
Date: Mon, 22 Sep 2014
16:50:16 +0000
ReplyTo: David Sirota,
IBTimes
Subject: BREAKING:
Despite Rules, Christie Pension Chief Pushed NJ Cash Into
Fund Linked to His Private Firm
