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.
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.
* 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