CAFR: so-called ‘pension funds’ engorge Wall Street’s biggest banks

I documented that California’s so-called “pension fund” of $460 billion contributed just $1 billion (4%) of the state’s $27 billion pension cost, and the total $600 billion in retained taxpayer assets are lied-in-omission removed from the $16 billion budget deficit claimed as “forcing” austerity.

Now Clint Richardson has hit another home run in documenting California’s Comprehensive Annual Financial Report (CAFR) as funding Wall Street’s biggest banks by the billions, including $2 billion directly into the very same mortgaged-backed and asset-backed securities that were fraudulently created, fraudulently marketed, and fraudulently rewarded through taxpayer so-called bailouts.

And remember the big picture: the state’s CAFR is dwarfed by ~14,000 various intra-state government agencies, whose data-sampled CAFR data reveal $8 trillion in total surplus taxpayer assets. This figures into a staggering $650,000 of retained assets per California household.

So we now know how Wall Street’s biggest players get their positions of power: they work to overtax the 99%, call it “investments” mostly into a “pension fund,” and thereby transfer trillions into their own corporations.

I see three obvious solutions that will require on Occupy-like victory. So far, law enforcement told me CAFR fraud is not a crime, and my state representatives after five weeks of opportunity are lying and resorting to “no comment.”

I’ll see if local media interest will help persuade our state representatives to make an ethical response in public service, rather than act as 1% minions.

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  • gozounlimited

    As California continues to destroy itself…..

    California looks as if it is desperately clinging onto the notion that we can lead the rest of the world in controlling climate change, and behaving as a Nation State.

    As part of his 2012-13 state budget, Gov. Jerry Brown made a gigantic assumption that the state will see $1 billion in cap-and-trade revenue. The state Legislative Analyst’s Office warned that this is a dangerous budget gimmick and an unstable calculation.

    The California Air Resources Board passed cap-and-trade regulations in 2011 as part of its effort to implement AB 32. The air resources agency was granted authority by AB 32 to develop “market mechanisms” to reduce emissions to 1990 levels by 2020.

    To achieve this, CARB developed its Cap and Trade program, and named 300 industries as the polluters, which will be required to buy carbon credits from the state in order to continue doing business in California.

    When more closely examined, Cap and Trade appears to be a wealth redistribution program, by imposing a carbon tax on mostly private businesses, as well as utilities. Economists have warned that it will send businesses in California packing for other states.

    read more: http://www.calwatchdog.com/2012/05/29/california-counting-its-carbon-tax-riches/
    ***********
    The brown man just tripped over strike III …..

    July 11, 2012 – Chemtrails over Antelope Valley, Los Angeles County, California

    Below are 6 purposes for Chemtrails *

    1- Blocking the Sun: This is the standard reason given to idiots in the government. We need to secretly stop global warming, so keep it a secret that we’re spraying. Global warming is the catch all con for everyone in the government. If you’re smarter than this they’ll give you a better reason.

    2- Blocking the Sun (Again): A reduction in sun light across the planet works well to decrease crop yields slightly. This is part of the requirement to engineer a food crisis and bring in a famine. This is tied in with the disappearing bees too but this site does not get into that.

    3- Superheating the Atmosphere: In order to create earthquakes and steer hurricanes (for example hurricane Katrina in New Orleans) the atmosphere needs to be more conductive for electricity so installations such as HAARP can work their magic. So the chemtrails spray barium and aluminum among other things to create a more conductive upper atmosphere.

    4- Health Erosion: As a side effect everyone’s health and immune systems become more compromised. This is usually not an issue for most healthy people. Older people on average will now die sooner and any health complication is slightly more likely to be fatal. This is both a side effect of spraying and intentional. Anything to increase the kill rate without raising many alarm bells.

    5- Climate Modification: To help or hurt crops, keep skys clear for a major event (like the Olympics), cause a typhoon, etc.

    6- Nano-fiber Propagation: To universally install a BioAPI in everyone they need to spray nano-fibers. These fibers cannot be put into the food supply or given in some other way, the uptake across the population would take forever and not propagate very efficiently. It’s much easier to spray everyone like insects; and because it’s happening to everyone and universal the herd mentality of the unwashed masses then justifies it.

    * Chemtrails are being used to spread death. We need to speak up and stop this atrocity NOW!
    see video: http://www.youtube.com/watch?v=mIBeTci6Ld8

    Chemtrail Report, July 11, 2012 Livermore, CA: 37.678403,-121.770519

    After uploading my little video on the chemtrails here in Livermore, Ca today I am going to also post a “Chemtrail Report” on the free interactive map called Sky Watch Map by going to http://www.skywatchmap.org and filing a report using a short description of important points preferred by Sky Watch Map……see video: http://www.youtube.com/watch?v=kpsP2BXK6pA
    ***********
    CLOAK CRAFT REVEALED JULY 10, 2012 MOJAVE DESERT

    Cloaked craft making chemclouds chemical haze….see video: http://www.youtube.com/watch?v=wtgwsD-Wv4M
    **********
    We can now admit it: global climate change is one big hoax. But let’s give credit to the special effects experts who have given us wildfires, downpour, and record heat this past month……read more: http://www.thedailybeast.com/articles/2012/07/03/bill-mckibben-on-the-global-warming-hoax.html
    ***********
    The Global Warming Hoax Explained for Dummies (or the brown man) …… see video: http://www.youtube.com/watch?v=B_ds4UXIQGk&feature=related
    ***********
    This vido is especially for the skeptics and non-believers that think chemtrails are merely water vapour or exhaust from airliners and even contrails, think again. This indepth interview with a former government employee A.C. Griffith, who worked very intimately with the secret government project codenamed “Project Cloverleaf”. Mr Griffith gives details of the severity of chemtrails and the immediate effects from them. Mr Griffith also explains how he actually got deep access into the program witnessing first hand the extent of the aerosol purpose and the true way the aerosols are deployed into our atmosphere. A system designed that is attached on the wings of the aircraft and released from specially constructed aerosol canisters. Chemtrails are thereby not produced or created by the aircraft or it’s exhaust . This is a regularly attempted explanation by disinformation specialists to discredit the truth of what chemtrails really are. Barium and other harmful chemical components are a sytematic project one titled “Project Clover Leaf” that is contuining daily world wide. Listen to this compelling interview and consider the reprecutions of what is being sprayed daily over our skies worldwide particulates we breathe every day too.

    see video: http://www.youtube.com/watch?v=8OYxa2cMmx8

    • Carl Herman

      Thanks, gozounlimited. It seems we really need a breakthrough for criminal arrests of these psychopaths. Oh well, as is the usual pattern of life going differently than any individual thinks is best, we’ll just keep moving forward in good faith and discover what’s next.

      • gozounlimited

        I can keep my county clean …… the only thing I’m worried about ….. at the moment.

        • gozounlimited

          A Side: The forecast for the Central Valley (CA) today was 111 degrees. At 4:40 pm the temp is 101 degrees. The missing 10 degrees didn’t show up because the Chemtrail Cowboys didn’t show up. 101 is SOOOOO NORMAL for July in high pressure that it ain’t gonna promote what the weather lady is trying to sell. No worry though, the weather ladies boobs look like they are growing.

  • crazy_inventor

    “CAFR.. [is] funding Wall Street’s biggest banks”
    sounds alot like stole

    - resorting to “no comment.”
    sounds alot like stonewall

    • Carl Herman

      Yeah, makes one want to call them “asset holes.”

  • Javy

    Carl Herman for President of the now defunct USA!

    Or you can be the Tonight’s Show lead writer! Asset Holes indeed! Classic!

    Let’s kick some butt people!

    • Carl Herman

      :) Yes, may the 99% kick assets, as it were.

 

 

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