Now Is the Time

for us rise up together, with our planet, and for truth!

  • Subscribe

  • Pages

  • Archives

  • Categories

The CAFR Scam

What is the CAFR Scam?

CAFR: Comprehensive Annual Financial Reports

- the actual amount of monies taken in by the government through taxation, withholding  and other payment methods.

Governments at all levels in most nations – like many criminal enterprises – keep two sets of books.

About one-third of our tax monies are recorded and identified as a government’s “budgets”.  The other two-thirds are buried  in their comprehensive annual financial reports (CAFRS) as various “investment funds,” “dedicated funds” and “pension funds.”

This fraudulent contemporary accounting procedure is what is known as the “CAFR scam”.

How much money is hidden in the CAFR?

These government comprehensive annual financial reports (CAFRs) show many billions of our local public monies have become legally unavailable to us  (in Washington State it is $83 billion).

On an national level these funds reach into the trillions.

We are at a time of bank-engineered global economic depression when these governments at all levels are claiming that they have severe deficits.  In Washington State, the public budget deficit is claimed to be near $2.5 billion (Washignton State’s investments in the commercial banking cartel alone represent nearly $5 billion of public funds).

Where is this hidden money invested?

Rather than being invested in the resident people whose money provides the basis of these investments, most government investments hidden in the CAFR are made in foreign entities such as:

Many of these government investments are in toxic investment instruments such as derivatives and collateralized debt options (CDOs) set on unstable “trading platforms” that are set to collapse in the near future.  These toxic investment instruments are based on the purchase of packaged debts, and constitute legalized gambling on the stock markets with billion/trillions of our money using the most irresponsible methods imaginable.

There are Immediately Viable Economic Reforms

Bringing Criminal and Civil Charges Against Public Officials

The CAFR Scam constitutes deliberate denial of remedy, showing a pattern of criminal intent.

If, therefore, these governments ignore the presence of these hidden funds and persist in enacting genocidal budget cuts to basic human services without applying viable available remedies, they are violating national and international laws.

Case Study of the CAFR Scam:

The Washington State Investment Board

The Washington State Investment Board (WSIB) is the agency responsible for investing all of the pension/dedicated funds controlled by the Washington State government, specifically the legislature.  It openly defines and conducts itself like a private corporation, not a public agency.

This body was behind Issue 4215, the successful if disingenuous 2006 initiative to amend the state constitution to allow state monies in dedicated funds supplied by corporate natural resource extraction to be invested in corporate Wall Street investments, instead of being held in trust for higher education.  Eighteen months later, the bottom fell out on Wall Street, devastating these funds while triggering increasingly draconian budget cuts and unaffordable tuition at state/community academic institutions.

Complete post:

Case Study of the CAFR Scam: The Washington State Investment Board  Posted by nowisthetimeus on November 10, 2011

More details:

One Response to “The CAFR Scam”

  1. [...] The CAFR Scam [...]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: