Are the States of California, Illinois and others really broke?

Source:     CAFR.com
Title:     Walter Burien-THE CAFR SHELL GAME!!
By:    Vadic
Date:      03/05/2010

Do these states really qualify for bancruptcy?   Are these states really broke???  The answer is "no" according to Walter Burien and confirmed by the officially filed CAFR's required by law to be filed, by every state, with the Federal Government.   Such CAFR's which are Consolidated Financial  Statements also exist for the various branches of Government as well (example: CIA afghanistan drug trade profits go into their CAFR investment accounts where the funds are controlled by the bankers in Wall street trades in which they make millions in fees).



This shows that we could pay off the entire national debt simply by cashing in the "Investments" in the trillions from each state and federal agencies.  Bottom line is, these are taxpayer owned funds, they do not belong to the government, they are the property of the taxpayer.  Here is an example with just Southern California... not including the north.

http://www.scag.ca.gov/publications/pdf/2009/FinancialReport063009.pdf 

About $4 billion in CAFR INVESTMENT FUNDS for just half the state.  See page 26 showing the $4 billion, and note 2,  page 37 showing the investment categories, most of which is in commercial paper.

Being broke is determined by "budgets" rather than existing financial conditions, and budgets are simply revenues PROJECTED and expenses PROJECTED for the coming year.    The CAFR's are records of current conditions of the states, and  indicate revenues from Investments on the books that are NOT used in the budgetary process, nor are the cash funds in the trillions sitting in these states used either for such projected coverage of expenses.   Thus a false picture is being presented to the taxpayer who owns those trillions of dollars sitting doing nothing but making millions for WALL STREET BROKERAGE HOUSES IN FEES FOR TRADING.    Watch these videos done by a man who invested a great deal of time to ferret out the truth.

Another example given to us by Brasscheck in a comprehensive interview with Walter Burien, this explains the entire game and well worth the watch.

http://www.brasschecktv.com/page/512.html

These below are further explanations that cover the used of these investment funds to cover drug profits etc. and the use of these funds through Wall Street trading to control our markets to then steal the equity from investors.

Walter Burien-THE CAFR SHELL GAME!!

Pt. 1
http://www.youtube.com/watch?v=_bq6TDgtoZs

Pt. 2
http://www.youtube.com/watch?v=gHoTgeCD62w

Pt. 3
http://www.youtube.com/watch?v=581dmSo0328


Why is this being handled this way?  This is considered fraud if bancruptcy is filed with millions to billions in assets sitting in various securities and not used to offset revenue shortages from taxes, or else it should be refunded to the taxpayer.

Neither is happening, thus we as taxpayers should show up at any bancruptcy hearings with this evidence in hand to prevent bancruptcy culmination.  Watch this, as Walter Burien had done and excellent job in research uncovering TRILLION OF DOLLARS IN WEALTH sitting in states like New Jersey and New York who are screaming "broke" and threatening bancruptcy which is unnecessary and in fact fraudulent.

Please watch these and use these and the actual copies of the CAFR's for your state to present to the bancruptcy courts to prevent the culmination of the massive fraud it represents. 

---

The article is reproduced in accordance with Section 107 of title 17 of the Copyright Law of the United States relating to fair-use and is for the purposes of criticism, comment, news reporting, teaching, scholarship, and research.