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How the public (and government employees) are being played for useful idiots – The Gov Pension Fund / System Scam

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new logoby Walter Burien – CAFR1
05/16/15

ARTICLE ARCHIVED AT – http://CAFR1.com/gpfsc.html

The new GAP accounting implemented over the last 8 years established by GASB.org requires local government accounting to project all liability as if it is due today.

This means pension fund accounting (and other local government funds) are required to project out 35 years to satisfy ALL projected payments to participants with what they will be paid AT TIME OF RETIREMENT. They use max projections there. EXAMPLE: Employee making 50K today at retirement after pay increases, projected inflation, etc., will be making 185K. Additionally, THEY DO NOT account for the projected income for the fund out 35 years in full. They redact much.

So based on the new accounting, a pension fund that may have been 150% funded today, in the snap of the finger could now be adjusted to being 60% funded. (40% underfunded)

Motive? The larger the investment fund balance for that local government, the bigger the power base. Where those funds are invested domestic and international creates the biggest payola network globally times thousands of different local government funds/systems of the same.

Another point most employees and taxpayers are not aware of is: Most local government pension funds / systems are “Strictly Participatory”. What that means is the employee does not own 1c of the fund, they just have in so many words a “Ticket to Ride” under contract terms.

The local government owns 100% of the fund balance. Now if the employees owned 100% of the balance, the accounting local governments are doing would be 100% fraud and an indictable offense under SEC law and fiduciary ethics guidelines.

Most fund balances are so large they do not require contributions from the employee or tax payer, rates of return are primarily meeting requirements. Plus if the employees owned the fund balance it would be required to give each a pro-rated value of each employees ownership in $$ terms each year. If that was the case and done my would those participating employees get a big surprise. Long-term participants, they would see their ownership value at on the low side $650,000 to on the high side $3,500,000.

But being that these funds are Strictly Participatory (similar to the Social Security fund) SEC laws and fiduciary fund management guidelines only require that those “Tickets to Ride” under contract are in line to be satisfied based on the GUIDELINES that local government is operating under.(and they create their own guidelines)

TREASON: “Treason doth never prosper; what’s the reason? For if it prosper, none dare call it treason.” Sir John Harrington, 1561-1612

Please share, publish, and post my comments with others (especially those government employees who are participating with these funds/systems)
Walter Burien – CAFR1.com
P. O. Box 2112
Saint Johns, AZ 85936

Tel. (928) 458-5854

PS: Federal groups like FBI agents have profit sharing pensions. They see each year the value of “their” share in the Pension they are enrolled as an “owner”. Back in the 90’s their eyes must have been bulging out of their head when they looked. They saw they would get 175% to 250% over what they were expecting to get at retirement based on fund performance.
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CAFR1’s REPLY ABOVE TO THE ARTICLE THAT FOLLOWS:

How Illinois’ Pension Debt Blew Up Chicago’s Credit

After a court ruling, the state’s legacy of borrowing to cover public employee pensions landed a $2.2 billion problem in the city’s lap.

by Allan Sloan, The Washington Post, and Cezary Podkul, ProPublica, May 13, 2015, 3:39 p.m.

PETROLEUM ENGINEER BELIEVES GULF OIL RIG WAS INTENTIONALLY SABOTAGED

9 Comments

Live Link:  Liberty News Online  with John Wallace

 “I BELIEVE THAT THEY HAVE TAPPED INTO ABIOTIC OIL WITH DIFFERENT TYPES OF GASES WITH IT. THE PRESURE THAT IS PUSHING THIS OUT OF THE HOLE IS COMING FROM NEAR THE CENTER OF THE EARTH. IT IS LIKE A LARGE OIL AND GAS RESEVOIR THAT KEEPS REPLENTISHING ITSELF SITTING ON TOP OF A VOLCANO. THAT’S WHY THE PRESURE DOESN’T DECREASE.”

06-17-2010 2:02 am – Pastor from Ohio
I WAS A PETROLEUM ENGINEER AND WORKED FOR HALLIBURTON AND BJ HUGHES ( THE OIL AND GAS SIDE OF HOWARD HUGHES COMPANIES). AS SOON AS THE GULF INCIDENT HAPPENED I TOLD MY WIFE AND FRIENDS THAT THIS WAS A SET-UP.

GOLDMAN SACHS SOLD THEIR BP SHARES DAYS BEFORE THE DISASTER, NOT TO MENTION THE HEAD OF BP SELLING OVER A THIRD (3rd)OF HIS STOCK.
WHY WOULD SOMEONE DO THAT UNLESS THEY HAD INSIDE INFORMATION. More

How the markets really work (from 2007) BRASSCHECK TV/video

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           http://www.brasschecktv.com/page/187.html 

       How did these comedians see it coming
when financial reporters did not?

Yes, it really is this bad

Another example of humor that is deadly accurate.

I worked on Wall Street for a few years, elbow to elbow with “top” investment bankers.

It was one big casino with the saps in pensions funds and savings and loans (and us) being used to finance the game and cover the losses.

Amazingly, this was recorded in 2007.

 

 

If you don’t fully understand what’s happening in the financial markets – the cause and the likely outcome – this short video will make it crystal clear.

 

http://www.brasschecktv.com/page/187.html

 

– Brasscheck

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