With all this fear-mongering about the U.S. going into default, I think it's important to understand that the government is the largest investor in the companies its supposed to be regulating and 2/3 of its revenue comes from investments (every government agency maintains its accounts in what is called the "Comprehensive Annual Financial Report" or CAFR, which is NOT the taxpayer"budget". It is the general accounting structure for government, a FULL DISCLOSURE of all assets and liabilities), NOT taxes. So one might ask the government the following questions: how do you regulate a company when you're sharing in its profits? How do you avoid conflict of interest when that conflict is embedded in the established system? How do you act without considering the revenue potential of your actions? How do you protect us from corporate evil when you are the largest most powerful corporation in the world? Government power and wealth is corporate power and wealth. There is no separation between government and corporate agendas. It should be readily apparent through the continuing passage of laws that profit government, as well as not only the lack of enforcement applied when the political/corporate elite break the law, but their rewards as in the recent bailouts.
“They tell us that our taxpayer budgets are continuously short of money from debt, taxes, tariffs, tolls, fines, levies, fees, dues, duties, orders, finance charges, excises, audits, permits, licenses , contracts, legalities, acts, rules, regulations, restrictions, requirements, requisites, prerequisites, post requisites, documentation, obligations, restraints, constraints, options, conditions, causes, tenure, status, etiquette, postage limits, speed limits, size limits, weight limits, closed circuit tv, red-light cameras, citations, tickets, quotas, equal opportunity, signs, signals, boundaries, borders, fences, zones, zoning, associations, directives, mandates, sanctions, liabilities, confiscation, eminent domain, restraint, restraining orders, position, possession, influence, ownership, control, lawsuits, punishment, capital punishment, bail, detention, psychiatric observations, rendition, custody, confinement, captivity, incarceration, arrest, manhunts, warrant, required insurance, prescriptions, registration, referrals, waiting lists, free speech zones, terrorist watch-lists, no-fly lists, and, classified information,. These are all sources of revenue for government. In other words, taxation without representation." -- Clint RichardsonThe only thing that's in our favor is the government's need to pose as a public servant who performs legitimate tasks, but that mask seems to be dropping more and more every day while we continue to wring our hands and buy into the outright lies that the mainstream media report, 24/7, in order to ensure that their masters--the unaccountable federal government--remain immune from their ever-increasing legalized "crimes". This continuous threat of government shut-downs, defaults, and going over "fiscal cliffs" is nothing but pure fiction. The reality is that our government is not interested in providing public service, because there is money to be made at our expense by promoting and creating legislation that practically guarantee corporate agendas. Keep in mind that government, directly or indirectly, own 70% of all equities on the stock markets and 80% of the Fed’s income goes back to the treasury!
How do we know this? It is thanks to Mr Walter Burien and Mr. Clint Richardson, who have exposed a huge piece of the puzzle: that the government owns it all by investment, that we can liberate ourselves from this false reality. We all need to learn that the political elites profit immensely from this ongoing government-by-crisis political theater that unfolds before our eyes everyday on FOX News, CNN, MSNBC, etc. We need to learn that the outrageous revenues that government collects through taxes, fees, permits, licenses, penalties and various forms of corruption, piracy and theft is permanently lost to public benefit.
However, to most of us, it's much easier to digest the promoted fictions and fallacies about the Federal Reserve and the "default" that they threaten us with through, as Clint Richardson says, the "daily feeding frenzy of misinformation surrounding this investment and currency scam, where inaccuracy and downright fiction rule over any comprehension of what the Fed really is, what it does, and who its master is," than to wade through the 479 pages of deliberately confusing and boring truth that lay within the audited financial statements of the Federal Reserve and the 185,000 government CAFRs of the United States government.
From Walter Burien:
** Government was NOT supposed to operate at a profit. How did they get around this restriction?Here is the link to the Board of Governors Comprehensive Annual Financial Report (CAFR), . for 2011, the latest and 98th audit of the Federal Reserve. According to Clint Richardson, "it explains how everything operates, its foreign investments and foreign currency swaps and schemes, its many separate limited liability corporate holdings like Maiden Lane, its dealings and bailouts with AIG, Bears Stearns, and JP Morgan, and of course its assets and liabilities balance sheet."
ANSWER: If for example a city had a 100-million dollar profit for the year from any of its operations, at a stroke of a pen they create or deposit into a "liability fund" and poof, there goes the profit re-designated now as a liability.
“Within this 479 pages of dry and boring financial reporting is a full description of the Fed’s operations, including the basic financial happenings of each individual reserve bank. Yeah, I know, it doesn’t have the flair of a good “Secrets of the Temple” or “Creatures” type of novel, but its got all the actual facts and figures from TARP to SOMA. Why? Because this is what is required by federal law.
If you want to know about the Fed, read the CAFR.
If you want to know about your city, read the CAFR.
If you want to know about your county, state, district, or any other governmental agency or corporation, read the CAFR.
Here are a few highlights:
Board of Governors of the Federal Reserve System
To: The Speaker of the House of Representatives:
Pursuant to the requirements of section 10 of the Federal Reserve Act, I am pleased to submit the ninety-eighth annual report of the Board of Governors of the Federal Reserve System. This report covers operations of the Board during calendar year 2011.