Disclosure.Cymru
The Evidence
The Evidence of Government Surplus Funds
Councils amassing secret stockpiles of taxpayer money says Local Government Secretary
Eric Pickles
Local Government Secretary Eric Pickles said in 2013 councils are misleading the public if they claim they have no money left, but they stuff billions more of taxpayers’ cash into their municipal piggy banks.
There are no rules on what councils should hold in reserve and taxpayers will be amazed that while councils are amassing billions in secret stockpiles some are pleading poverty and raising Council Tax bills for hard working families.
Everyone appreciates the need for a financial umbrella for those rainy days but keeping reserves at levels unprecedented in recent years should give local residents pause for thought. Instead they could be tapped into to ensure councils can protect frontline services and keep Council Tax down for hardworking people.
Silence is golden?
Walter Burien
Local governments through shell investment firms that they may start themselves or contract out with will use their own investment funds to fund their own debt and thus move money out of sight of the public to lock in a long-term investments for themselves and a debt under their "Budgetary" expenses for the public to repay.
The government's secret slush funds
Sarah Foster
All levels of government conceal the existence of these vast sums of money by keeping and filing what amounts to two sets of financial books, one for the general public, which shows a very limited revenue stream, and the second, for political insiders, bond brokers, investors and the like, which reveals the money hoards and gives an accurate account of a government’s income. There’s enough money in these hoards largely the result of aggressive investing on the part of government to pay off the national debt many times over, plus cut everyone’s taxes for years to come.
Eric Norby says investment fund accounting can be regarded as a criminal activity and approaches an illegal scam that the government is putting over on the taxpayers. As a lawyer I have to say that what they’re doing is probably legal, but if people knew about it they wouldn’t be very happy and maybe they’d change the law.”
Secret 'slush funds' new government scam
Sarah Foster
Local governments may be hoarding billions of taxpayer money and reaping large profits from those unspent tax revenues at the same time public officials are crying how poor they are and demanding that taxpayers be forced to pay increased taxes.
The money for the hoards comes from tax proceeds. This is invested in banks and other institutions and generates considerable money for government.
As a result of this revenue source, an abusive and dangerous trend has developed in which billions in tax proceeds are being questionably collected and unconscionably hoarded for government revenue building purposes, rather than for their originally approved budget and capital-outlay purposes.
It’s not built into the budget because investment earnings aren’t part of the budgetary process.
As for the money itself, what’s already there in the investment funds, the consensus is it should be spent or returned to the people in the form of tax cuts or possibly a rebate.
At what point do they stop building these large investment funds and spend some of this money instead of increasing taxes? When is the time to spend some of the money? It’s a good thing to have reserves, and it’s a good thing to invest the money. But the time has come for some of these investment funds to be loosened so they can start spending the money on services and not increasing taxes.
Government's money-hoarding racket
Joseph Farah
It appears government resources far exceed any debt. In fact, it would appear that government at all levels are hoarding assets, saving up for a rainy day at your expense.
Trillions are stashed away in what amounts to government “slush funds,”
Essentially what is happening routinely in government accounting circles is something that would land private businessmen in jail. It’s called keeping two sets of books, one for public consumption that shows revenues raised from taxation and expenses incurred from government spending and another investment fund account that just keeps growing.
This government hoarding may well be legal, according to some accounting experts. But it represents yet another secretive practice by government that would certainly be questioned by many people, if they only knew about it.
The government is playing a great big shell game, hiding investment funds in all kinds of different accounts. If you work very hard, you can discover for yourself how the game is played. But you can never see the big picture. All you can find is how much is in this account or that account. The investment funds are never consolidated in a way that shows the public just how rich government is.
In other words, there is a deliberate effort to obfuscate, to conceal and to hide the truth from the people. Even trained accounting professionals and business executives and been stumped. Government, which places so many restrictions on private financial activity and snoops so much into all of the most intimate details of our lives, has a different standard for itself.
This is a story that should make people angry, not just with one politician or one party, but at the whole damn system and everyone who has participated in this fraud, and a dozen others like it, without blowing the whistle.
The governments' secret trillions
Geoff Metcalf
Are local and state governments strapped with severe budgetary constraints? Far from it, according to public investment expert Walter Burien. Burien provides a fascinating peek inside the true financial worth of various governments today.
Q: So this is an intentional scam?
A: You’ve had a shell game played on the public where governments are constantly talking their budget, their budget, their budget. They just happen to leave out the decades and decades and decades of investment wealth that has been building up, the decades and decades and decades of enterprise and venture projects they have created separate from the budgetary basis.
Q: So who is the primary beneficiary of this vast wealth?
A: The investment revenue. You have thousands of little empires being built all over the country, people controlling those monies that are invested. You know when you go to the bank and you get a mortgage on your house, you think you are borrowing private funds. When I look at the government revenue flows, I see billions in different pension funds, investment funds, invested with banks under their mortgage division. The banks are acting as the “middle man or in between” agent getting a half a point or two-thirds of a percentage point for making the loan.
Show Us the Money
Geraldine Perry
Curiously, and at the same time that local governmental entities have been selling off public assets to buyers far and near through "infrastructure privatization," many have also been actively acquiring a wide variety of assets as investment vehicles and profit centres. These assets, taken together, show that "collective government has controlling interest in all major companies and most other major corporations."
The budget as we know it covers only a small and somewhat misleading portion of a governmental entity's financial condition.
What we have found is that most governments have huge amounts of cash and investments on hand at the end of the accounting year. And somehow these cash and investments are not being recycled back through the budget process the next year, but are being held year-after-year.
Most people assume that local, local governments are non-profit organizations operating on a "pay-as-you-go" basis; this is simply not the case.
Local governmental entities should operate on a zero based budgeting procedure, with little or no cash and investments on hand at the end of each fiscal year.
The biggest shock is that two thirds of total government income is now actually coming from non-tax sources, with major revenues coming from the defence industry, big pharma, big banks, agribusiness, big oil and gas, foreign currencies and emerging markets – through the investment activities of these various funds. Moreover, massive profits from these investments have led to equally massive levels of corruption, about which neither the public nor most government officials nor most of those involved in the financial industry have first hand knowledge.
The “Section 151 Officer” Council Tax and Fraudulent Accounting.
John Hurst
This brings us to the little known “151 Officer” who appears to be at the heart of a scheme to establish a secretive fascist regime where money raised from local taxation is diverted into private investments without the knowledge of tax payers.
Hidden Tax Money
Councils amassing secret stockpiles of taxpayer money says Local Government Secretary
Eric Pickles
Local Government Secretary Eric Pickles said in 2013 councils are misleading the public if they claim they have no money left, but they stuff billions more of taxpayers’ cash into their municipal piggy banks.
There are no rules on what councils should hold in reserve and taxpayers will be amazed that while councils are amassing billions in secret stockpiles some are pleading poverty and raising Council Tax bills for hard working families.
Everyone appreciates the need for a financial umbrella for those rainy days but keeping reserves at levels unprecedented in recent years should give local residents pause for thought. Instead they could be tapped into to ensure councils can protect frontline services and keep Council Tax down for hardworking people.
Silence is golden?
Walter Burien
Local governments through shell investment firms that they may start themselves or contract out with will use their own investment funds to fund their own debt and thus move money out of sight of the public to lock in a long-term investments for themselves and a debt under their "Budgetary" expenses for the public to repay.
The government's secret slush funds
Sarah Foster
All levels of government conceal the existence of these vast sums of money by keeping and filing what amounts to two sets of financial books, one for the general public, which shows a very limited revenue stream, and the second, for political insiders, bond brokers, investors and the like, which reveals the money hoards and gives an accurate account of a government’s income. There’s enough money in these hoards largely the result of aggressive investing on the part of government to pay off the national debt many times over, plus cut everyone’s taxes for years to come.
Eric Norby says investment fund accounting can be regarded as a criminal activity and approaches an illegal scam that the government is putting over on the taxpayers. As a lawyer I have to say that what they’re doing is probably legal, but if people knew about it they wouldn’t be very happy and maybe they’d change the law.”
Secret 'slush funds' new government scam
Sarah Foster
Local governments may be hoarding billions of taxpayer money and reaping large profits from those unspent tax revenues at the same time public officials are crying how poor they are and demanding that taxpayers be forced to pay increased taxes.
The money for the hoards comes from tax proceeds. This is invested in banks and other institutions and generates considerable money for government.
As a result of this revenue source, an abusive and dangerous trend has developed in which billions in tax proceeds are being questionably collected and unconscionably hoarded for government revenue building purposes, rather than for their originally approved budget and capital-outlay purposes.
It’s not built into the budget because investment earnings aren’t part of the budgetary process.
As for the money itself, what’s already there in the investment funds, the consensus is it should be spent or returned to the people in the form of tax cuts or possibly a rebate.
At what point do they stop building these large investment funds and spend some of this money instead of increasing taxes? When is the time to spend some of the money? It’s a good thing to have reserves, and it’s a good thing to invest the money. But the time has come for some of these investment funds to be loosened so they can start spending the money on services and not increasing taxes.
Government's money-hoarding racket
Joseph Farah
It appears government resources far exceed any debt. In fact, it would appear that government at all levels are hoarding assets, saving up for a rainy day at your expense.
Trillions are stashed away in what amounts to government “slush funds,”
Essentially what is happening routinely in government accounting circles is something that would land private businessmen in jail. It’s called keeping two sets of books, one for public consumption that shows revenues raised from taxation and expenses incurred from government spending and another investment fund account that just keeps growing.
This government hoarding may well be legal, according to some accounting experts. But it represents yet another secretive practice by government that would certainly be questioned by many people, if they only knew about it.
The government is playing a great big shell game, hiding investment funds in all kinds of different accounts. If you work very hard, you can discover for yourself how the game is played. But you can never see the big picture. All you can find is how much is in this account or that account. The investment funds are never consolidated in a way that shows the public just how rich government is.
In other words, there is a deliberate effort to obfuscate, to conceal and to hide the truth from the people. Even trained accounting professionals and business executives and been stumped. Government, which places so many restrictions on private financial activity and snoops so much into all of the most intimate details of our lives, has a different standard for itself.
This is a story that should make people angry, not just with one politician or one party, but at the whole damn system and everyone who has participated in this fraud, and a dozen others like it, without blowing the whistle.
The governments' secret trillions
Geoff Metcalf
Are local and state governments strapped with severe budgetary constraints? Far from it, according to public investment expert Walter Burien. Burien provides a fascinating peek inside the true financial worth of various governments today.
Q: So this is an intentional scam?
A: You’ve had a shell game played on the public where governments are constantly talking their budget, their budget, their budget. They just happen to leave out the decades and decades and decades of investment wealth that has been building up, the decades and decades and decades of enterprise and venture projects they have created separate from the budgetary basis.
Q: So who is the primary beneficiary of this vast wealth?
A: The investment revenue. You have thousands of little empires being built all over the country, people controlling those monies that are invested. You know when you go to the bank and you get a mortgage on your house, you think you are borrowing private funds. When I look at the government revenue flows, I see billions in different pension funds, investment funds, invested with banks under their mortgage division. The banks are acting as the “middle man or in between” agent getting a half a point or two-thirds of a percentage point for making the loan.
Show Us the Money
Geraldine Perry
Curiously, and at the same time that local governmental entities have been selling off public assets to buyers far and near through "infrastructure privatization," many have also been actively acquiring a wide variety of assets as investment vehicles and profit centres. These assets, taken together, show that "collective government has controlling interest in all major companies and most other major corporations."
The budget as we know it covers only a small and somewhat misleading portion of a governmental entity's financial condition.
What we have found is that most governments have huge amounts of cash and investments on hand at the end of the accounting year. And somehow these cash and investments are not being recycled back through the budget process the next year, but are being held year-after-year.
Most people assume that local, local governments are non-profit organizations operating on a "pay-as-you-go" basis; this is simply not the case.
Local governmental entities should operate on a zero based budgeting procedure, with little or no cash and investments on hand at the end of each fiscal year.
The biggest shock is that two thirds of total government income is now actually coming from non-tax sources, with major revenues coming from the defence industry, big pharma, big banks, agribusiness, big oil and gas, foreign currencies and emerging markets – through the investment activities of these various funds. Moreover, massive profits from these investments have led to equally massive levels of corruption, about which neither the public nor most government officials nor most of those involved in the financial industry have first hand knowledge.
The “Section 151 Officer” Council Tax and Fraudulent Accounting.
John Hurst
This brings us to the little known “151 Officer” who appears to be at the heart of a scheme to establish a secretive fascist regime where money raised from local taxation is diverted into private investments without the knowledge of tax payers.
