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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 ledger 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
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