Juy 1, 2012
COMMUNICATIONS BETWEEN CARL HERMAN AND WALTER BURIEN - CAFR1
SUBJECT: Legality of California local governments not openly disclosing that they are sitting on over $600-billion of investment funds on the state level and about $8-trillion from the 14,000 or so local governments in California collectively held.
Carl Herman is a Harvard Graduate and taught economics in the LA County School district for many years. I briefed Carl a little over two years ago per collective totals from all local governments in CA combined with the selective presentation game of only the debt side spoon fed the population.
Within his learning curve he has been taking the ball and is running with it. A Google of his name will bring up many of the articles he has been writing over the last year per California government and the intentional non-disclosure game they are perpetuating on the population due to the money involved.
Carl and Ellen Brown are for State run banks and are promoting the same. My position has been made clear on that point and I would only switch my position if full disclosure of the standing wealth amassed by local governments came openly and transparently into full view for public cognitive understanding and thinking. At this point we are no where even close to that happening and state run banks would only provide another layer of masking of the same.
Please share with others who you think can comprehend what is being discussed here.
The following is sent to you FYI from,
Walter Burien - CAFR1
Re: L.A. County D.A.: CAFR billions non-disclosure “not a crime,” but won’t explain
Sun, July 1, 2012 9:28 am
Well said, Walter. I'll share it.
On Sat, Jun 30, 2012 at 11:01 PM, Walter Burien <WalterBurien@CAFR1.com> wrote:
Your best leg to stand on per that issue addressed in your email copied below is doing a parallel of SEC law per public company disclosure. There every company MUST (is required) to send every shareholder if they have one-share or ten-million shares owned in the company their Annual Financial Report each year. A clear effort for open disclosure is required. If they failed to do so, it is an indictable offense. If they colluded to intentionally hold it back in an attempt to fudge the numbers and screw the shareholders through lower payouts or to secretly buy back their own stock at pennies on the dollar, every director involved would get hit with a forty-count SEC indictment, be convicted, and sentenced to a long term at San Quentin.
The exclusion of disclosure of the CAFR over the last 40-years is obvious.
Would their only defense be: Does not apply to us?
What puts the final nail in their coffin was the fact that: To pull off holding back your AFR from open and public disclosure, it REQUIRED the full cooperation of the syndicated media; controlled education; and both political parties over the last forty-years. It is also obvious that aspect was well in place DUE-TO-THE-MONEY-AND-CONTROL-INVOLVED. Much grease on the skids to have pulled that one off and be as effective as they were in doing so.
An appropriate analogy would be: If the Catholics never heard of the Bible based on a cooperative effort maintained by the players behind the Vatican. The Bible is the holy grail of the Catholic church and the CAFR is the holy grail of any large local government...
Please share my comments with those you are communicating with.
Walter Burien - CAFR1
P. O. Box 2112
Saint Johns, AZ 85936
Tel. (928) 458-5854
L.A. County D.A.: CAFR billions non-disclosure “not a crime,” but won’t explain
Regarding the data (video interview explanation here) of Comprehensive Annual Financial Reports (CAFR) that show taxpayer surpluses in the literal trillions while government officials tell the public our “only option” is austerity, Los Angeles County District Attorney Office’s Dave Demerjian (Head Deputy Public Integrity Division) wrote me:
The failure to disclose cash reserves is not a crime unless there is some evidence that official documents have been intentionally altered or destroyed to accomplish the non-disclosure.
He did not respond to my follow-up:
Please cite the applicable law(s),
please explain how it is not fraud for officials to misrepresent public taxpayer assets by only saying the budget has a deficit and never saying cash and investment accounts have in the case of California 35 times that amount?
How is it not fraud to label accounts for "pensions" when the data shows the opposite: that only 4% of pensions are paid by a fund of nearly half a trillion surplus taxpayer dollars?
Mr. Demerjian didn’t respond to two further e-mails requesting answers. I admonished:
My professional standards never puts an audience in position to trust anything I say. I document and then provide testimony to understand the evidence; in this case what a law means and what financial fraud means, especially with public officials. I also recommend that whatever you write reflect how you want the public to view you.
I documented how L.A. County has $66 billion in surplus taxpayer assets, CA has $600 billion, all state CAFRs combined $8 trillion. The public deserves how officials misrepresenting their money can do so legally, as you so far allege.
Mr. Demerjian can be reached here: firstname.lastname@example.org if you’d like to follow-up.