Clark County Debt Pyramid

January 28, 2014

By Michael Turley

The Clark County Comprehensive Annual Financial Report, year ending June 30, 2013 (CAFR) was just published the second week of January 2014. Less than 6 months from being due for the fiscal year ending June 30, 2014. How is this good management? But let's have a look at the annual report.

First some excerpts from the "Management's Discussion and Analysis" on page 3. In "Financial Highlights - Primary Government" bullet 6 we find "Bonds and loans payable totaled $7,340,554,385." That is over 7 BILLION Dollars folks. Bonds are debt. Bonds are interest bearing notes. Bonds are issued on "anticipated revenues."  It is like betting on the come at a casino crap table.

Several times in the last quarter we have hard various corporations/departments of Clark County Government come before the City Counsel and County Commission, lamenting the need for more revenues [that translates to various taxes on residents of Clark County] over Bond "SHORTFALLS." A bond shortfall means that the operating monies from the bond issue has been exhausted and the revenues anticipated are only paying on the bond principle and interest due. That means that the managing of the Bond monies has been overspent, which is mismanagement of public monies of the Taxpayers.

Getting through the fog of numbers and applications of taxes, other revenue and assets is another task. I haven't had the report long enough to wade through it all. What does become readily apparent is that new debt is far outrunning existing revenues. Assets include government buildings and other corporations serving as government agencies. Those are illusions when offsetting actual debt. There are other assets involving unused land that presents a totally different aspect to this discussion. 

Clark County incorporated operates on DEBT.
It is like a person spending on CREDIT CARDS. Accruing Debt at a faster pace than can possibly be covered with income. Even if Clark County could invest in an interest bearing account of, let's say, 1 billion or even 2 it would be impossible to cover the debt and accruing debt at the present pace or even with cutbacks.

This doesn't even address the rest of the state that relies upon Clark County residents for the bulk of the operating expense.

This doesn't even begin to address the Federal Debt. It doesn't begin to address the fact that the fiat, interest bearing currency notes are controlled by the international banking cartel, which can make this whole house of cards topple by simply pulling the plug. Which means that even if we could cover the operating debt with investments it would be an illusion of paper held by the international banking cartel. The same international banking cartel that has control of our natural resources, manufacturing and production through a myriad of corporation fronts, government agencies and regulatory departments subject to the United Nations, which is a manipulation of the same international banking cartel.
You begin to see how the "Global Pyramid" works to realize that there is a lot of research and digging into the facts to make qualified statements about what can be done. Yes, it was planned that way to make us dependent upon the dictates of government as controlled by a few who are beyond public scrutiny. But it behooves us to be as sure of the facts as possible to address those who are not concerned with anything but their personal agenda; i.e. both political parties and many others.

Having a narrow view is as dangerous to we who seek liberty and freedom as the over-reaching ruling elitist Corporate State. There is a whole lot more to this web of corruption, but this should raise some eyebrows and perhaps encourage some of you to do some research.