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What Are CAFRs?
By Walter J. Burien, Jr.
CAFR1.com
10-23-6


It has been reported that trillions of collective dollars not shown in government Budget reports are shown through Government CAFR reports and they are virtually never openly-discussed by the syndicated NEWS media, both the Democratic and Republican Party members, the House, Senate, and organized public education. With, and being that the CAFR is "the" accounting document for every local government, and with it being effectively "BLACKED OUT" for open mention over the last 60 years, that this fact of intentional omission of coverage is the biggest conspiracy that has ever taken effect in the United States.  
  
First, what is a CAFR? A CAFR (Comprehensive Annual Financial Report) is government's complete accounting of "Net Worth". The CAFR was established as local government's complete accounting record starting in 1946 through the efforts of a private group located out of Chicago, IL by the name of Government Financial Officers Association (GFOA) http://gfoa.org and became mandatory by Federal requirement on all local governments in 1978 to complete if they did not all ready do so.  
  
What has been presented to the public over that 60 year time period were Budget Reports. A Budget report is strictly planned expenditures for the year from a grouping of specific government service agencies. A budget may also note some statistical, statutory, and demographic data for reference. Most Government budget reports show where "tax" revenue will be used. The CAFR on the other hand is not a projection of one year's expenditures from a select grouping of agencies, but a complete cumulative record of assets, investments, and gross income from all agencies and all sources benefiting that local government body.
  
A CAFR is similar to the Annual Financial Report (AFR) that publicly traded corporations are required to produce each year and give to every share-holder as a requirement of Securities Exchange Commission (SEC) law. In many cases, a CAFR may show two to three times more income over what is shown in the corresponding Budget Report.  
  
Relevant to taxpayer interests, the CAFR "is" the report that would be the report for review over a limit showing as seen in the corresponding Budget report. The CAFR could be considered the Bible of asset accounting for any local government body.  
  
So, is the CAFR being "BLACKED OUT" from mention by the syndicated news media and both the Democratic and Republican Party members, and the House or the Senate, and even organized education?  
  
A Google search for CAFR produces over 750,000 hits but a Google "NEWS" search for CAFR as of 10/21/06 only produces seven (7) obscure hits of simple mention.
  
A corresponding  "NEWS" search in the archives of the New York Times, LA Times, Chicago Tribune, and Wall Street Journal, which go back in their data banks, several decades showed in combination less than seven hits for CAFR. Here with this disparity the answer for "is there a Black-Out from the Syndicated NEWS" agencies? The answer would have to be a clear yes.  
  
Have the school districts from across the USA that educate their students on Budgets, who also produce a CAFR each year made simple and basic mention of the CAFR at any point for education of their students on this basic subject?  No, they have not. Here does a Blackout exist? Apparently, yes is the answer.  
  
Have elected officials or politicians in or running for office who talk continuously about Budgets openly made mention of the greater report of their local city, county, or State the CAFR, linked them at their web sites, or linked for mention in their news letters over the last 60 years?  Virtually not a peep if at all any mention. Here does a Blackout exist? Apparently, yes is the answer.  
  
Are local Government CAFRs sent to all members of the House, Senate, Editors of Local News Papers, News Networks, and Educational department heads? Yes, they have been. The printing of the CAFR is a budgetary item requiring records to be kept as to each sending. The before mentioned representatives have been sent the primary local government CAFR reports relevant to their locale now for over 30 years. Here does a Blackout exist? Apparently, yes is the answer.  
  
Upon overall review of the question: Does a Blackout, and in fact a conspiracy exist towards bringing the CAFR into the light for public scrutiny. Based on the clear record over the last 30 years of abstention from use or mention to the public, the answer here also appears to be a clear yes.  
  
From the over 84,000 CAFR reports produced by local Government each year in combination with Federal Government's own investment holdings, shows a conservative value of sixty trillion dollars held by Local and Federal Government as of 1999. An example of the holdings shown from just one Government CAFR (NY STATE 2005 RETIREMENT FUND CAFR)  [http://www.osc.state.ny.us/retire/aboutus/annrep05/assetlist091405.pdf ] shows 133 billion dollars of investments held (Microsoft 44 million shares thereof).  
  
Motive for conspiracy to Blackout the CAFR from the public's realm of comprehension? The substantial money, Investments, and Power obtained there from of those on the inside track could be the most probable answer.  
  
To Review some CAFRs go to:  http://cafr1.com/STATES/    

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Derivatives are used by investors to:

provide leverage (or gearing), such that a small movement in the underlying value can cause a large difference in the value of the derivative;
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obtain exposure to the underlying where it is not possible to trade in the underlying (e.g., weather derivatives);
create option ability where the value of the derivative is linked to a specific condition or event (e.g., the underlying reaching a specific price level).