| Comprehensive Annual Financial Reports (CAFR) |
|
|
|
|
|
jamesadrian
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 19 Feb 2011
Location: Rochester, NY
|
| Comprehensive Annual Financial Reports (CAFR) |
 |
|
A comprehensive annual financial report is issued by the federal government, each of the states, and most of the municipalities. It reports the budget (government income from taxes and fees and approximately matching expenses) but it also includes a report of accumulated return on investments like common stock in private companies purchased by the state or municipality.
The CAFR was not well known until Walter Burien and Gerald R. Klatt made the public aware of them. It is a format established in 1946 but not mentioned publicly until recently. Politicians and television news stick strictly to the budget.
Google lets you find a CAFR by using this kind of search term: State of New York comprehensive annual financial report.
I learned about this only recently and I would like to get some confirmation about the astounding news that these governments in the U. S. collectively own trillions of dollars worth of voting stock in private companies like 3M and General Electric and all of the rest. It is claimed that over fifty percent of the stock market is owned by federal, state and local governments and that television news has agreed not to mention it.
I am concerned about government ownership of the means of production. I don't like Walter Burien's idea that this wealth could be used to eliminate taxes. I understand why, in 1934, FDR wanted this two-tiered accounting system and the resultant government accumulation of ownership of company stock, but I think the whole thing should be undone.
Is this really happening?
Here are some references:
Walter Burien's reaction was initially just like mine:
http://video.google.com/videoplay?docid=6703413885850200097#
Gerald R. Klatt explains how the investment money was improperly obtained:
http://cafrman.com/Introduction.htm
Here is something more current from Walter Burien:
http://www.youtube.com/watch?v=uy8tnC4xLX8
Here is an an example CAFR from Tennessee:
http://www.tn.gov/finance/act/cafr_fy09/09jumpsc.html
A misleading view has been published:
http://www.reddit.com/r/conspiratard/comments/f4eoe/cafr_conspiracy_debunked_with_links
However, this link explains that it is not just a matter of pensions:
http://www.itulip.com/forums/archive/index.php/t-15683.html
This information is of enormous importance. Qualified experts in greater numbers need to check its accuracy and publicly state their conclusions.
I believe these investment decisions and decisions about the use of the profits from these investments should come under voter control. I also believe that the practice of investing public money in private companies should stop until there is an amendment to the Constitution that permits it. What do you think?
Thank you for your help.
Jim Adrian
jim@futurebeacon.com
|
Sat Feb 19, 2011 7:18 am |
|
|
sirmikey1
Full Member
Cash: $ 13.60
Posts: 67
Joined: 16 Mar 2009
Location: USA
|
This guy makes the assertion or assumption that govt investment income is not being disclosed or maintained/utilized properly. And while his own research shows that only 35% of govt income comes from taxes. What I got from the video is that there's money to be made as a vendor to govt, as insider, as one of the boys.
You might also find this Forbes article interesting:
Credit Card Debt Being Sold as Securities
sm
|
|
Thu Mar 10, 2011 7:13 am |
|
|
|
