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:
- Foreign governments
- Quasi Public Banks / International Agencies
(similar to State Banks formed in other nations)
- Predator Corporations
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.
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:
- What is
the CAFR Scam?
- How
much money is hidden in the CAFR?
- Where
is this hidden money invested?
- We,
the people, must demand functional reforms
- Bringing
Criminal and Civil Charges Against Public Officials
- Case
Study of the CAFR Scam: The Washington State Investment Board
- Quick
analysis of the Washington State Investment Board 2010 Investments
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