moon

Document Sample
moon Powered By Docstoc
					                            LIC E
                        A
TO
     THE   M O O N,

           OUR NATIONAL DEBT
          YOUR SOCIAL SECURITY
      AND THE PAY-IT-AGAIN SAM SCAM
As of February 20, 2003, the nation reached the current debt limit of $6.4 trillion. The
Bush administration has been borrowing at the rate of about $2 billion a day and has
increased the national debt $653 billion since the beginning of fiscal 2002; $421 billion
during the four quarters of fiscal 2002, and $232 billion so far in fiscal 2003. Since
January, the U.S. Treasury has tapered off or has been in a holding action in
anticipation of the debt limit.

If you had set aside $8 million a day from the time of Christ, the beginning of the
Gregorian calendar, and the debt rose no further, you would be able to pay off the
national debt by the year 2195. The United States of America, the wealthiest country in
the world, has accumulated most of this debt in the last 25 years.

Borrowing is credit extended the government just like a credit card based solely on the
fact that the government raises revenue from the taxpaying public. It has no other
significant source of income or any jewels, gold, plundered treasure in the U.S.
Treasury, and does not make anything from the sale of weapons to other nations.

Borrowing is what causes the national debt, but there is honest borrowing and there is
dishonest borrowing—more correctly, there is honest borrowing and there is
embezzlement and theft.

There are also two parts to the national debt. One side is labeled “Public Debt” and the
other “Intragovernmental Holdings.” The words are meant to deceive.

Public Debt implies that this portion of the national debt is the only part that tax paying
citizens are responsible for redeeming. Ironically, this could be possible, but it isn’t
today. As it stands, the taxpaying public is responsible for paying off the entire debt.

Intragovernmental Holdings was once called “Federal Debt” and is meant to imply that
the government owes itself or that one governmental department owes another in some
sort of fanciful arrangement where interdepartmental debt records and records of
exchanges are not kept. Even if the many governmental departments were to reimburse or
pay off this portion of the debt, they would have to do it with taxpayer money.

The Intragovernmental Holdings side of the national debt is completely fraudulent and
could be eliminated tomorrow, with considerable relief to the public, and without dire
consequence to anyone but those who perpetrated the fraud.

This is a nonpartisan scam having little or nothing to do with politics although one
political party may from time to time accuse the other of wrong doing or over exuberance
in running up the debt. Democrats and Republicans are equally guilty of fostering and
perpetuating this fraud.

What’s more, the enormity of the government’s fraud makes private sector companies
like Enron, WorldCom, Arthur Andersen, and a host of others, look like children at play.
And the steps that the Beltway Bandits will take to avoid exposure or any comparison to
their own double bookkeeping, double taxation, and loss of the American worker’s
retirement money makes them suspect of a great many weapons of mass distraction
including war and other disaster.

From this point forward, we will get rid of at least two of the deceptive terms used by the
government and deal separately with what you need to understand about the honest and
the dishonest sides of the national debt.

NOTE: You will need to refer to the “Trust Fund List” at the back of this pamphlet. At
the end of this list are “real” trust funds managed by the government and included
because they are trusts. They are not part of “Intragovernmental Holdings,” but you will
notice that they include the Thrift Savings Plan for federal employees, the largest and
most lucrative authentic trust managed by the government.
      INVESTORS
      HONEST BORROWING

(What the government calls “Public Debt”)
Permitted by the Constitution, the federal government is allowed to sell U.S. Treasury
securities to any individual, group, or nation that wishes to loan the government money in
return for annual interest and payback over time. This activity is usually referred to as the
“bond market” and is reported daily by various news outlets, at least in terms of long
term bonds.

The U.S. Treasury issues these securities in a great variety of flavors ranging from bonds,
bills, notes, and savings bonds of different terms and time periods. They are available
with maturity dates from six days to ten years. The long term thirty year bond was
dropped in November of 2001, but up until that date had been the bookmark in the rise
and fall of interest rates.

How and where to purchase these securities is covered in detail by the Treasury’s Bureau
of Public Debt with an introduction by its commissioner, Mr. Van Zeck, a bureaucrat
who has never appeared on any talk show and is mentioned or quoted infrequently in
print media mostly when new programs are announced.

Mr. Zeck claims to have “something for everyone” and to be responsible for borrowing
money that the government needs in order to run efficiently. He claims to raise more than
$2 trillion a year. In his mind, it’s almost as though taxes don’t exist. With $3.7 trillion in
outstanding investor loans and securities maturing at the rate of about $5 billion a day, there
is a considerable volume of exchanges going on.

Most of this borrowing is to immediately replace maturing securities and maintain the
national debt level. Knowing the date that each and every security is due to mature, it
is possible for the Treasury to announce the sale of new ones and have new loan money
in hand almost before the check paid investors for maturing securities can be cashed.

The only way to pay down the national debt is to pay off maturing securities and not
replace them with new ones.

New debt is added when Congress or the administration tells the Treasury to sell more
securities than needed purely for replacement.

Periodically, the Treasury announces the sale of new securities and you can subscribe to
these notices and their results. The sale is often referred to as an “auction” but there is no
barter or auctioneer with a gavel taking bids. The announcement merely tells investors
what securities will be sold, at what rates of interest and maturity, and allows the large
investors and pension houses to submit formal requests for purchase.

A neat trick involved here is that whatever securities are not sold to investors can be
picked up by the independent Federal Reserve. The Reserve will, of course, run many of
these securities through its twelve central banks and allow local banks to purchase them,
which is one way for a little guy to pick up a bond or two without going through his
broker, but many of these securities are held permanently by the Federal Reserve. The
“Fed” now holds about 14 percent of the investor debt.

We assume that the Federal Reserve turns over the cash garnered from the sale of these
securities, but the amount held by the Fed itself raises several questions covered by other
authors. Most importantly, it raises the question of “fiat” money created when the
government treats any check received from the Federal Reserve without the transfer of
cash or gold and treats it as real. Devaluation of the dollar is not the same as inflation.

When investors buy Treasury securities and thereby loan money to the government, they
walk in with their eyes wide open. They know exactly how much annual interest they will
receive over time and what the final payoff will be. These factors vary all over the place
depending on how desperate the government happens to be or whether people are turning
from the stock market in search of safer investments.

Mr. Zeck and his team can always adjust upwards when it’s necessary to attract investors
and downwards when people are clamoring for Treasury securities.

At one time, in July of 1997, investors could pick up $100 face value thirty year bonds
for $87 and almost 7 percent annual interest. This is extremely advantageous for the
investor because yearly he is getting seven dollars for every eighty-seven invested, an
interest rate of about 12 percent. He also gains $13 at maturity.

When plenty of investors are seeking Treasury securities, the government can adjust rates
in the opposite direction. A $100 bond can cost $103 to purchase and the interest can be
very low.

In short, the government borrows money from investors under contract. Even in times
when the U.S. Treasury is offering little in cash enticements these securities are valuable
because they are “the safest investment in the world.” And the only reason they’re “safe”
is because they are backed by every taxpayer in the nation. It has nothing to do with the
honesty of politicians.
          ENTITLEMENTS
        DISHONEST BORROWING
   OR GRAND LARCENY AT ITS HIGHEST


(What the Government calls Intragovernmental Holdings)
The entire Intragovernmental Holdings portion of the national debt is composed of trust
funds (see list). These are trust funds in name only and have no resemblance whatsoever
to real fiduciary activities dealing with the stewardship of property. These trusts are not
real. They are black hole debit accounts.

One of the most obvious clues to this deception is the three or four years of congressional
debate and failed legislation devoted to lock-boxes. By their very nature, real trust funds
are already lock-boxes. There would be no need to even think of lock-boxes if these trusts
were real.

The federal government has built an elaborate scheme around the concept of borrowing.
It pretends to borrow when in actuality the Beltway Bandits are giving us debt dollar-for-
dollar in exchange for every cent citizens provide in surplus entitlement taxes.

The populace might as well walk into the U.S. Treasury, plunk down cash and say;
“Here’s some money, give me some debt.” It’s that outlandish.

Nineteen entitlements contribute to this scam, Social Security being the largest. Excess
payroll taxes account for almost sixty percent of this banditry annually. Seventeen other
entitlements contribute the rest.

To date, Social Security alone accounts for 21.7 percent of the entire national debt and
50.6 percent of the fraudulent Intragovernmental Holdings.

           1. The Social Security Trust Fund includes the combination of the Federal
              Old Age & Survivors Insurance trust fund and the Federal Disability
              Insurance trust fund. As of February 28, 2003, this combined trust stands
              at $1.396 trillion and 21.7 percent of the total national debt.

           2. On the same date, the entire Intragovernmental Holdings side of the
              national debt stands at $2.762 trillion and the nineteen entitlement trusts
              account for 93 percent of this total.

           3. The remaining 7 percent is represented by 124 trusts that are largely perks
              for judges, federal departments and employees, and so forth. How these
              work will be clear in a moment. Simply name a trust, deposit some special
              obligation nonmarketable bonds in it, and withdraw the money from the
              general fund of the U.S. Treasury’s current receipts as needed.

           4. In fiscal 2002, the entitlement trusts produced $149 billion in surplus
              overcharges that the Beltway Bandits took and spent elsewhere. Social
              Security’s share of that surplus was $89 billion despite high
              unemployment. Preceding years had been $98.7 billion in 2002 and $94.5
              billion in fiscal 2000, the government’s year of greatest surplus.
Knowing full well that entitlement money is not supposed to be spent elsewhere, that it is
dedicated money, the Beltway Bandits pretend to merely borrow surpluses. Without a
contract and without most of the lenders even aware that it’s happening, the pretext is that
somehow the government will pay it back, implying at the same time that they will not
use current tax receipts to do so. Hence, the words “Intragovernmental Holdings” as part
of the fraud.

I prefer to call this the “Pay-It-Again Sam” scam because that is exactly what is intended
at the very beginning.

The way it works is that when the government takes surplus entitlement money they
place “special obligation nonmarketable bonds” in the respective entitlement trust fund.
These bonds were invented for the purpose, cannot be traded, and have no marketable
value whatsoever. They are more like markers or accounting notes.

As President Clinton put it; "Trust Fund balances are available to finance future
benefits...but only in a bookkeeping sense...they do not consist of real economic assets
that can be drawn down in the future to fund benefits. Instead, they are claims on the
Treasury that, when redeemed, will have to be financed by raising taxes or borrowing." 1

And as June O’Neill, former Director of the Congressional Budget Office said about the
Social Security trust fund; "It holds no real assets. Consequently, it does not generate
funds to pay future benefits. These so-called trust fund 'assets' simply reflect the
accumulated sum of funds transferred from Social Security over the years to finance
other government operations."

The Beltway Bandits reinforce this borrowing idea by religiously adding annual interest
to the entitlement trusts just as they would if these were real trust funds.

However, the way this annual interest is added is without money involved. The
government simply hands the entitlement fund more bogus nonmarketable bonds,
increasing the public’s indebtedness.

This annual interest is based on a five year model of the interest paid investors in long
term honest Treasury securities. As the cash comes into the Treasury from payroll taxes,
gas taxes, unemployment and so forth, cash that is “earmarked” as to where it came from,
the Treasury accountants immediately issue the respective trust “certificates of
obligation.” Periodically, these certificates are rolled over into nonmarketable bonds.

It hardly seems possible that members of Congress can claim to be unaware of what’s
happening, although they often sound innocent by making public statements such as
“we will not touch Social Security money.”

Every member of Congress receives periodic reports of the amount of surplus money
coming into the Treasury from entitlements and at one time or another they each serve on
1
    President Bill Clinton in the Analytical Perspectives section of his 2000 budget
one of the many committees dealing in the future budget where these are an integral part
of “off budget” revenue.

Both the Senate and the House of Representatives have Budget Committees, Finance
Committees, Ways & Means, Tax, Appropriations and Joint Economic Committees
working feverishly on budgets with the help of the Congressional Budget Office (CBO),
General Accounting Office (GAO) and the Office of Management and Budgets (OMB).
Each of these groups keeps track of “off budget” receipts and expenditures while
delivering estimates of the amount to be expected in the near future.

Stealing surplus entitlement money under the pretext of borrowing is bad enough, but
double taxation sets in when an entitlement has a shortfall in normal taxes and reverts to
its trust fund to make up the difference.

Shortly before September 11, 2001, when this scam was coming unraveled, the subject of
the Social Security Trust Fund was a huge topic. It all started on June 19, 2001, when at a
luncheon with the Coalition for American Financial Security in the Sky Room of the
World Trade Center and later to Sam Donaldson on This Week, Paul O’Neill, then
Secretary of the Treasury, publicly said that there were “no viable assets in the Social
Security Trust Fund.” The same thing covered above, but not under obscure
circumstances or situations. This time, the Fourth Estate picked up on it and questions
started coming from all sides.

By August, people like Neil Cavuto of CNN were laughing and making jokes about the
meaninglessness of the trust fund. After being told for years that the trust fund would
sustain Social Security first until the year 2032 and finally until 2041, this new revelation
was dramatic news.

Economic experts brought forward all repeated the same mantra. If and when Social
Security must turn to its trust fund, the poor dears in Washington would be in the
uncomfortable position of having to (1) raise taxes (2) borrow heavily from investors (3)
cut benefits or any combination thereof.

Before people realized that these three options were the normal fund raising factors of
government at any time under any circumstances and that entitlement trust funds were
truly fraudulent, 9/11 took place and the subject has been buried ever since.

Strangely, when the Enron scandal finally came to a head and companies like WorldCom,
Tyson, Arthur Andersen, and a great many others were a major topic of general news, the
government’s scam was again threatened. People like Thomas Sowell of the Washington
Times drew comparisons to the government's double bookkeeping saying that “only the
government could believe it possible to both spend and save the same money.” We
suddenly found ourselves facing war with Iraq.

Setting the more horrendous implications aside, the fact remains that if and when a large
entitlement like Social Security must ever draw upon its trust fund the nation’s taxpayers
will be faced with paying the same taxes a second time, plus interest. The money must
come from the Treasury’s general fund of recent taxes on hand or money that came from
borrowing honestly from investors. Either that, or cut budgeted programs dramatically.

The validity of this double taxation can be seen with some of the smaller entitlements that
are drawing on their bogus trusts today, right now, as you read this.

Since 9/11, airlines and airports have been in financial difficulty. The Department of
Transportation has found it necessary to draw upon its “Airports and Airways” trust fund
several times. When this happens, the money is coming from the Treasury’s general fund
of recent taxes or from money borrowed from investors. In other words, the general
taxpaying public is covering taxes that were paid previously by travelers. And they are
paying interest on top of the original taxes.

More obvious is the Labor Department’s “Unemployment” trust fund. Because of high
unemployment and extended payments, this trust has been drawn down from holdings of
$92 billion in bogus bonds in June of 2001 to a balance of $54 billion today. Receipts
from employers who once paid more than was needed to cover the unemployed have not
contributed enough for the last year-and-a-half. For more than eighteen months, average
taxpayers have paid taxes that were already paid before by employers. And they paid
interest on top of that for a total of $36 billion so far.

If the government borrowed this make-up money from investors rather than take it out of
current taxes or shorting budget programs, then our children and grandchildren will foot
the bill.

The Bush administration has added $638 billion to the national debt since the beginning
of fiscal 2002. A substantial part of this was to cover double taxation coming from eleven
of the entitlement trust funds sporadically drawing down on their bogus accounts during
the past year or so.

Imagine what it will be like if and when any of the big entitlement accounts like Military
Retirement, the Federal Employees Retirement System (FERS), or Social Security begin
to draw down on their superficial holdings.

The long and the short of it is that we will be in exactly the same position we would be in
if there were no trust funds or no Intragovernmental Holdings portion of the national
debt. The money to make up for these services will have to come from increased taxation,
honest borrowing, or cutting benefits. The fraudulent trust funds truly are meaningless.

Scare Stories

The Beltway Bandits have concocted many scare stories ranging from Social Security’s
going broke to 76 million baby boomers about to crush the supplemental retirement
system. And they’ve accused one another of the impossibility of “raiding” funds that
have nothing to raid, all for political advantage.
The sum total of all of these scare stories has been nothing more than an increase in the
government’s booty. To supposedly alleviate disaster, they’ve raised retirement ages,
increased caps on payroll taxes, and done everything but address the real problem.

Tricks and Denial

When the economy seems to be doing well and the government is wallowing in
surpluses, the pirates will talk in terms of a “Unified Budget.”

When times are not so good, when the nation may even be in recession, they revert to
defining things in terms of being over budget.

It seems simple and straightforward enough to say that a “deficit” is the amount the
government spends over and above its receipts or over the budget that was planned. But
there’s a significant difference.

Let’s look at the Unified Budget in the year of most surpluses:




The Income Tax overcharges, including individual and corporate, are what President
Bush began to give back. However, notice the amounts from entitlements.

Entitlements like Social Security always account for the major portion of any government
surplus. And remember that in fiscal 2002, Social Security still managed to produce an
$89 billion surplus despite high unemployment. Surpluses are not gone, they’re just not
reported or talked about by politicians.
The important thing to grasp about the Unified Budget is that here the entitlement
overcharges are counted as an asset. At the same time, they appear dollar-for-dollar in the
Intragovernmental Holdings side of the national debt. Debt is debt. It can’t be debt in one
place and a positive asset in another. At least not without deceptive bookkeeping.

When the government turns to its other form of accounting for deficits, as we did in fiscal
2002 when the Government Accounting Office reported a deficit of $158.5 billion,
entitlements disappear. They aren’t even reported.

The reason you don’t hear anything about entitlement surpluses when the government is
talking about “over budget” deficits is that they were included in the budget. As
mentioned previously, the Beltway Bandits sweat over the budget years in advance and
part of that planning is the amount they can steal from entitlements and include in the
budget.

Thus, if its in the budget, how can it be counted as “over budget.” Isn’t that cute? I hope
you are getting a true sense of the government’s Enron style bookkeeping.

When backed into a corner about embezzling retirement and other entitlement money, the
crooks will begin screaming about Supreme Court decisions which they say make payroll
taxes the same as income tax, make Social Security some sort “social contract” between
the government and American workers. They will never mention the concept of
entitlements or money that’s not supposed to be spent elsewhere, and they will try to
declare themselves innocent of any crime.

The two Supreme Court decisions cited most often are “Fleming vs. Nestor” from 1960
and “Helvering vs. Davis” from 1937.

Fleming versus Nestor was a civil rights case from the McCarthy communist witch-hunt
days when, in 1954, a non-citizen who had worked in this country for 40 years retired to
his homeland and was denied Social Security because he was considered a communist
who went back to a communist country. The decisions were based on the earlier 1937
case anyway so we’ll skip it.

Helvering versus Davis dealt with the constitutional legality of leveling payroll taxes and
the final decision was that the tax could be leveled as long as it was considered a form of
income tax and as long as the Social Security program was not sold to the public as
insurance.

Of course, the Roosevelt administration ignored that warning and did exactly what the
Supreme Court told them not to do. To this day, politicians and bureaucrats still talk
about Social Security as an insurance program with benefits and contributions that don’t
have to be “earmarked” from individuals because the Internal Revenue Service has their
employment records from yearly income tax forms and knows what their payroll tax
contributions were.
Witness that, by their own definition, the trust funds are still called “The Federal Old Age
& Survivors Insurance Trust Fund” and the “Federal Disability Insurance Trust Fund.”

Both of these Supreme Court cases are worth reading for the dissenting opinions of
judges who voted against their passage, but the real nut of it is that there is another law in
this country known as an “implied contract” that completely overwhelms the embezzler’s
defensive arguments.

An implied contract is one in which agreement of the parties is demonstrated by acts and
conduct. It does not have to be written or signed and can be an oral agreement so long as
there is demonstrable proof in the behavior of the individuals involved on both sides.
What’s more, the terms need not be expressly stated, but can be inferred from the conduct
of the parties.

After more than 65 years of talking-the-talk and walking-the-walk of an insurance
program and millions of American workers believing that they were contributing to a
supplemental retirement and health care program—Social Security is the granddaddy of
all implied contracts. The Beltway Bandits don’t have a leg to stand on with their
outdated Supreme Court decisions.

Ironically, the very fact that for years the government has played this fraudulent
borrowing game is the absolute proof that they, themselves, believed they were adhering
to a contract with the people. After all, they could have just taken the money and spent it
without doing anything further. But they didn’t. Instead, the pirates set up a system of
bogus bonds and phony trusts to make it look like they were borrowing while adhering to
their end of the contract.

Falling back on the original Social Security Act of 1935 will not help them either. In the
original act, it is stated that:

"It shall be the duty of the Secretary of the Treasury to invest such portion of the amounts
credited to the Account as is not, in his judgment, required to meet current withdrawals.
Such investment may be made only in interest-bearing obligations of the United States or
in obligations guaranteed as to both principal and interest by the United States."

Notice the two choices, the second coming after the word “or.” It means that surpluses
could have been invested in hula-hoops if they were “guaranteed … by the United
States” which means guaranteed by the people.

In other words, investments could be guaranteed just as we guarantee banks. If something
disastrous happens, then the people make up for it just like we did over $400 billion in
S&L bungling during the Eighties. Politicians are not, as they would like you to believe,
forced to invest in their phony bogus bonds.
We could even invest in the stock market with some guaranteed minimum. If things fall
short of the guarantee, then we make it up from taxes. Is that any different from what we
do now? And we would have the chance to invest wisely and grow with our country.

The first part of this investment rule, “investment may (not shall) be made only in
interest-bearing obligations of the United States” does not say anything about
nonmarketable bonds, does it? Nonmarketable War Bonds were around from the First
World War. Even if these investments were made in marketable Treasury securities,
which has been proposed, we would still be double billed, we would still have to pay
them off plus interest.

There are laws and there are bad laws. Part of the job description of our lawmakers in
Congress is to change bad laws.

Solutions

Eliminate the bogus special obligation nonmarketable bonds. Simply wipe them from the
books. They truly are meaningless.

Any entitlement shortfall is covered by raising or using current taxes, honest borrowing,
or cutting other programs. This is happening right now with accounts like the Labor
Department’s “Unemployment Trust Fund.” And it’s exactly the same thing we would be
doing if entitlement trust funds did not now exist.

What to then do about entitlement over-charges is also a simple matter. Either cut
entitlement taxes to breakeven or establish real trust funds similar to the government’s
own Thrift Savings Plan. If it’s good enough for them, it’s good enough for us.

I prefer the investment option, but cutting payroll taxes would be an immediate and
meaningful stimulus to our sour economy.

Would that we had the option of such honest debate and decision making.
Welcome to Adobe GoLive 5




        2001                                                                                                         SURPLUS
                                     TRUST FUNDS
                               AS OF THE CLOSE OF FISCAL 2002

           ENTITLEMENTS
           (IN MILLIONS)

             1.    Federal Old Age & Survivors Insurance (Social Security)..............                             $1,173,759
             2.    Federal Disability Insurance (Social Security).................................                     $155,287
             3.    Federal Hospital Insurance (Medicare)..........................................                     $228,906
             4.    Federal Supplemental Medical Insurance (Medicare).....................                               $38,804
             5.    Federal Employees Retirement and Disability................................                         $586,037
             6.    Airports & Airways.......................................................................            $10,997
             7.    Cheyenne River Sioux Tribe Terrestial Wildlife Habitat Restore.....                                      $26
             8.    Contributors, American Battle Monuments Commission.................                                      $82
             9.    Harbor Maintenance.....................................................................               $1,804
             10.   Highway Trust Fund.....................................................................              $18,840
             11.   Inland Waterways Trust Fund......................................................                       $406
             12.   Lower Brute Sioux Tribe Wildlife Habitat Restoration..................                                    $6
             13.   Native American Institutions Endowment......................................                             $30
             14.   Railroad Retirement Account........................................................                  $23,383
             15.   Social Security Equivalent Benefit Account, Railroad Retirement..                                     $1,877
             16.   Tribal Special Fund, Office of the Special Trustee, Indian Affairs.                                     $133
             17.   Unemployment Trust Fund......................................................                        $68,265
             18.   Veterans Life Insurance Fund.....................................................                    $13,334
             19.   Military Retirement......................................................................           $162,396
                   .TOTAL.........................................................................................   $2,484,372




           PERKS & OTHERS
           (IN MILLIONS)




http://www.uncle-scam.com/trust%20list/a-main-02.html (1 of 6) [4/15/2003 10:58:24 AM]
Welcome to Adobe GoLive 5

            21.   Abandoned Mines Reclamation Fund...............................................               $1,895
            22.   Albanian Claims Fund......................................................................        $1
            23.   Aquatic Resources Trust Fund.........................................................         $1,369
            24.   Armed Forces Retirement Home Trust Fund....................................                      $86
            25.   Assessment Funds, Office of the Comptroller of the Currency.........                            $378
            26.   Assets Forfeiture Fund, Justice.........................................................        $494
            27.   Bank Insurance Fund.......................................................................   $30,542
            28.   Bequests & Gifts, Disaster Relief, Funds Appropriated to President                                $2
            29.   Bequests of Maj.Gen.Ainsworth, Library, Walter Reed Gen.Hosp...                                *
            30.   Capitol Preservation Fund..............................................................          $62
            31.   Christopher Columbus Scholarship Fund.........................................                    $4
            32.   Claims Court Judges Retirement Fund.............................................                 $10
            33.   Coast Guard General Gift Fund......................................................               $1
            34.   Belize Escrow, Debt Reduction.......................................................              $1
            35.   Community Development Credit Union Revolving Fund.................                                $6
            36.   Conditional Gift Fund, General, Dept. of State...............................                     $4
            37.   Court of Veterans Appeals Retirement Fund..................................                       $7
            38.   Defense Cooperation Account, Dept. of Defense............................                        $13
            39.   Dept. of Defense, Education Benefits Fund.....................................                  $967
            40.   Dept. of Air Force General Gift Fund.............................................                 $1
            41.   Dept. of Army General Gift Fund....................................................               $2
            42.   Dept. of Navy General Gift Fund....................................................               $2
            43.   District of Columbia Judges Retirement Fund..................................                    $89
            44.   District of Columbia Pension Liability Trust Fund...........................                  $2,427
            45.   Eisenhower Exchange Fellowship Program....................................                        $7
            46.   Employees Health Benefits Fund, Office of Personnel Mgmt..........                            $7,552
            47.   Employees Life Insurance Fund, Office of Personnel Mgmt...........                           $25,350
            48.   Endeavor Teacher Fellowship Trust Fund.......................................                     $1
            49.   Expenses & Refunds, grading farm products..................................                      $36
            50.   Environmental Improvement and Restoration..................................                     $974
            51.   Esther Cattell Schmitt Gift Fund.....................................................          *
            52.   Exchange Stabilization Fund, Treasury............................................             $9,717
            53.   Expenses, Presidio Trust................................................................        $125
            54.   Farm Credit Insurance, Capital Corporation Investment Fund.........                           $1,686
            55.   Federal Aid to Wildlife Restoration, Fish & Wildlife Service.........                           $495
            56.   FHA - General and Special Risk Insurance, HUD.........................                            $2
            57.   FHA - Liquidating Account, HUD................................................               $21,249
            58.   Federal Supplemental District of Columbia Pension Fund..............                          $1,352
            59.   Land Between the Lakes trust fund...............................................                  $2
            60.   Foreign Service Retirement and Disability Fund.............................                  $11,734
            61.   FSLIC Resolution Fund................................................................         $2,800
            62.   General Post Fund, National Homes, Dept. of Vet. Affairs.............                            $47
            63.   German Democratic Republic Settlement Fund...............................                         $5

http://www.uncle-scam.com/trust%20list/a-main-02.html (2 of 6) [4/15/2003 10:58:24 AM]
Welcome to Adobe GoLive 5

            64.    Gifts & Bequests, Office of the Secretary, Dept. of Transportation                           *
            65.    Gifts & Bequests, Treasury............................................................           $1
            66.    Gifts & Donations, National Endowment for the Humanities...........                           *
            67.    Gifts & Donations, National Endowment of the Arts......................                       *
            68.    Guarantees of Mortgage Backed Securities Fund, HUD................                           $6,958
            69.    Harry S. Truman Memorial Scholarship Trust Fund.......................                       $1,805
            70.    Hazardous Substance Superfund...................................................             $3,234
            71.    Host Nation Support, US Relocation Activities Account.................                           $5
            72.    Lincoln County Land Act...............................................................        *
            73.    Iranian Claims Settlement Fund, Treasury.......................................               *
            74.    Israeli Arab Scholarship Fund, Treasury.........................................                 $4
            75.    James Madison Memorial Fellowship Foundation Fund..................                             $37
            76.    Japan-US Friendship Trust Fund....................................................              $40
            77.    John C. Stennis Center, Public Service Training & Development                                    $9
            78.    Judicial Officers Retirement Fund...................................................           $168
            79.    Judicial Survivors Annuities Fund...................................................           $404
            80.    Kennedy Center Revenue Bond Sinking Fund................................                         $6
            81.    Leaking Underground Storage Tank Trust Fund.............................                     $1,893
            82.    Library of Congress Gift Fund........................................................            $9
            83.    Library of Congress Trust Fund.....................................................             $37
            84.    Morris K. Udahl Scholarship Trust Fund........................................                  $17
            85.    National Archives Trust Fund.........................................................           $12
            86.    National Credit Union Share Insurance Fund..................................                 $5,149
            87.    National Gift Fund, National Archives & Records Admin...............                             $8
            88.    National Institutes of Health Conditional Gift Fund.........................                     $9
            89.    National Institutes of Health Unconditional Gift Fund.....................                      $18
            90.    National Security Education Trust Fund.........................................                 $32
            91.    National Service Life Insurance Fund, Veterans Affairs..................                    $11,465
            92.    National Service Trust, Corp. for National & Community Services                                $229
            93.    National Resource Damage Assessment & Restoration..................                            $145
            94.    National Waste Disposal Fund, Dept. of Energy.............................                  $23,421
            95.    Oil Spill Liability Trust Fund...........................................................    $1,003
            96.    Oliver Wendell Holmes Devise Fund, Library of Congress.............                           *
            97.    Operating Fund, national Credit Union Administration....................                        $30
            98.    Operation & Maintenance, Indian Irrigation...................................                   $28
            99.    Overseas Private Investment Corp................................................             $3,464
            100.   Panama Canal Commission Compensation Fund...........................                            $77
            101.   Panama Canal Commission Dissolution Fund.................................                        $3
            102.   Patients Benefit Fund, National Institute of Health..........................                 *
            103.   Payments to Copyright Owners, Library of Congress....................                          $655
            104.   Pension Benefit Guaranty Corporation..........................................              $12,834
            105.   Postal Service Fund.....................................................................     $1,430
            106.   Power Systems, Indian Irrigation Projects.....................................                  $35

http://www.uncle-scam.com/trust%20list/a-main-02.html (3 of 6) [4/15/2003 10:58:24 AM]
Welcome to Adobe GoLive 5

            107.   Preservation, Birthplace of Abraham Lincoln..................................                        *
            108.   Prison Industires Fund, Dept. of Justice..........................................                      $85
            109.   Public Enterprise Revolving Fund, Treasury....................................                         $158
            110.   Public Health Service Conditional Gift Fund...................................                           $3
            111.   Public Health Service Unconditional Gift Fund...............................                          *
            112.   Relief & Rehabilitation, Longshoremens & Harbor Workers Comp                                            $63
            113.   Relief & Rehabilitation, Workmens Comp. D.C. Dept. of Labor....                                          $6
            114.   Marketing Services, Agricultural....................................................                    $13
            115.   Retired Employees Health Benefits Fund, Personnel Dept...............                                    $2
            116.   Revolving Fund for Administrative Expenses, Farm Credit Admin                                           $20
            117.   Ricky Ray Hemophilia Relief Fund.................................................                       $91
            118.   Saving Association Insurance Fund................................................                   $11,153
            119.   Science, Space & Technology Education, NASA..........................                                   $13
            120.   Seized Currency, US Customs Service..........................................                          $286
            121.   Servicmens Group Life Insurance Fund..........................................                           $6
            122.   S.Dakota Terrestrial Wildlife Habitat Restoration...........................                            $42
            123.   Southern Nevada Public Land Management Act of 1998...............                                      $132
            124.   Tax Court Judges Survivors Annuity Fund.....................................                             $7
            125.   Treasury Forfeiture Fund...............................................................                $132
            126.   The Barry Goldwater Scholarship & Excellence in Education Fund                                          $63
            127.   Unconditional Gift Fund, State Department.....................................                      $88,638
            128.   United States Enrichment Corporation Trust...................................                        $1,259
            129.   US Government Life insurance Fund, Veterans Affairs...................                                  $62
            130.   US Naval Academy General Gift Fund...........................................                            $7
            131.   US Trustee System Fund, Justice...................................................                     $185
            132.   Uranium Enrichment & Decommissioning Fund, Dept. of Energy                                           $2,987
            133.   Utah Reclamation Mitigation & Conservation Account, Interior......                                     $131
            134.   Vaccine injury Compensation.........................................................                 $1,758
            135.   Veterans Special Life Insurance Fund.............................................                    $1,807
            136.   Veitnam Claims Fund.....................................................................              *
            137.   Voluntary Separation Incentive Fund, Defense................................                           $782
            138.   War-Risk Insurance Revolving Fund, Maritime Admin..................                                     $31
            139.   Perishable Agricultural Commodities Act.........................................                        $12
            140.   Russian Leadership Development trust fund.....................................                          $12
            141.   United States Information Agency trust fund.....................................                         $1
            142.   Veterans Reopened Insurance Fund.................................................                      $475
            143.   Black Lung Disability.......................................................................          *
                   TOTAL...........................................................................................   $190.683




http://www.uncle-scam.com/trust%20list/a-main-02.html (4 of 6) [4/15/2003 10:58:24 AM]
Welcome to Adobe GoLive 5




           * Less than one million




 COMBINED TOTAL = $2.675 Trillion = 43% of National Debt

 ENTITLEMENTS ACCOUNT FOR 40% of the National Debt
 SOCIAL SECURITY ALONE IS 21.3 % OF THE NATIONAL DEBT


 All of the 143 trust funds above hold nothing but special obligation nonmarketable (bogus) Treasury bonds.
 They never hold any real money. When needed, these markers will be turned in for cash from the Treasury's
 General Fund of current receipts from personal income and corporate taxes.

 Surplus entitlement payments remain in the General Fund until spent by Congress and the Administration, at
 which time bogus bonds are deposited in these black hole debit accounts. Each account is then awarded annual
 interest without any cash involved.

 These accounts are what the government calls "Intragovernmental Holdings" to carry out the fiction of having
 merely borrowed the money.

 But the story doesn't stop there. The federal government has at least 14 real trust funds that it reports along
 with the above but labels as "Public Debt" because they are real and they don't know where else to put them.
 These funds hold positive negotiable assets and are not debt.




           REAL TRUSTS
           (IN MILLIONS)



http://www.uncle-scam.com/trust%20list/a-main-02.html (5 of 6) [4/15/2003 10:58:24 AM]
Welcome to Adobe GoLive 5

            144.   Custodial Tribal Fund, Office of special trustee for Indians...............                            $573
            145.   Deposits, Outer Continental Shelf Lands Act, Minerals Mgmt, Bids                                        $25
            146.   Escrow Account, National Labor Relations Board..........................                                $27
            147.   Federal Ship Financing Escrow Fund, Maritime Admin...................                                  $187
            148.   Gifts, Central Intelligence Agency...................................................                 *
            149.   Kuukpik Alaska Escrow Fund.......................................................                       $34
            150.   Payments of Alleged Violators of Dept. of Energy Regulations.........                                  $278
            151.   Seized Assets Fund, Justice............................................................                $530
            152.   Smithsonian Endowment Fund........................................................                       $1
            153.   Special Investment Fund................................................................                $873
            154.   Thrift Savings fund, Federal Retirement..........................................                   $44,948
            155.   Treasury Deposit Funds................................................................                  $20
            156.   Unearned Copyright Fees, Library of Congress.............................                                $4
            157.   Wage, Hour, and Public Contracts Restitution Fund, Labor...........                                      $2
                   .
                   Total............................................................................................   $47,605



                                  * Less than one million



               Earlier Lists




http://www.uncle-scam.com/trust%20list/a-main-02.html (6 of 6) [4/15/2003 10:58:24 AM]

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:2
posted:7/22/2012
language:
pages:21