The people were determined to be sufficiently ignorant of even the basic checking account balance of the general fund in their local governments and school districts, let alone the massive collective government investment scam robbing them of the entirety of their wealth, making it reasonable to assume that these municipal corporation’s financial position would likely never be challenged by that clueless mass of the indentured. And so the latest trend of conspiracy and fraud against those debt-slaves continues… this time in the not so great City of Detroit.
Read the rest at Clints Blog
1 comment:
Amazing post. Clint Richardson has been talking about this for years: CAFRs expose the way governments hide money. Essentially, liabilities such as pensions are included as present liabilities, while assets such as future taxes and other revenue are not. This makes the liabilities far outweigh the assets, with the purpose of making the government seem bankrupt. This is the standard accounting procedure for all the school districts and municipalities. They are all rolling in money, and they are all making themselves look bankrupt. The major future liability, the pensions, will be ended when the city is dissolved, and the jobs are lost. But the assets will still be there, and they will be sold off for pennies. We are all being taken for a ride.
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