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Wisconsin independent journalist and election fraud analyst, who works with CDM contributor Chris Gleason, posted the following on his Telegram channel.
RED ALERT! THE PENSION FUND CRISIS
The Hidden Debt Crisis: How Local Governments, School Boards, and Pensions Are Trapping Taxpayers in an Endless Cycle of Fraud
Article by : Leah Hoopes
"For years, state and local governments have engaged in massive financial manipulation, leveraging property tax revenue to issue bonds at an unsustainable rate. What was once a mechanism for funding essential services has become a high-stakes Ponzi scheme, where inflated property values, school board corruption, and pension mismanagement have created a financial time bomb waiting to explode."
"At the heart of this crisis are leveraged bonds, school districts operating as slush funds, and a taxpayer base being squeezed dry to cover mounting debts that government officials created behind closed doors. The consequences are catastrophic—ballooning property taxes, pension fund insolvencies, and the looming threat of mass foreclosures."
Be sitting down, this is bad, really bad: pensions.
"The states have put everyone's house up as collateral on bonds that they leveraged 20 to 1. This means they BORROWED 20 million for every 1 MILLION they had in tax revenue."
Found in at least Texas, Florida and Maryland - what state and local governments have done is borrowed 20 to 1 against your home property tax revenues.
They have been fraudulently inflating home values - 40% overvalued even - by just putting a few thousands of them on a spreadsheet, working backwards to figure out how much they want, then using those to do standard deviation/comparables, to determine appraisal values of homes across the area.
Effect: fraudulent, dramatic increases in tax appraisal values where of course your property tax bill skyrockets.
A govt. entity such as a school wants a new building, bam! no problem as they use the tax streams from all your homes, say it is $1 million, to go out and borrow $20 million. Highly leveraged!!!
And where does this money come from? Your pensions.
Now rinse and repeat. Remember the rates going up based on fraudulently inflated appraisals due to made up comps.....where now instead of $1 million tax revenue there is $1.4 million.
What does the State and local govts do? Go out and borrow more using leveraged bonds. Where is this money coming from? Your pensions. Including teacher pensions.
It is a vicious cycle including the crooks in the state and local govt. repeating fraudulently inflating property values again, and again and again. Your property tax rates keep going up, they have been doing it for years.
The kicker: hundreds of billions of bonds are coming due, no one really knows how big this is. Your property tax revenues have been spent for decades in the future....and that money is gone.
In Texas alone there are $32 billion in bonds coming due in 12-18 months. And, $30 billion in mortgages due in the same time frame. There is no money to pay them off. And now it is being exposed all those billions were obtained via fraud - who is going to want to refinance those?
The only solution to what is coming is either property taxes skyrocket even more! Or, bankrupting of teacher pensions, other pensions, people losing homes because they cannot afford property taxes and school board bankruptcies.
As Draza Smirh stated "Now I think I understand why those school board races have been so important to control."
I can't remember how many times I have published and stated in interviews Smurfing is found even in some school board races - is this why? To cover it.
Watch 5:37min video published by @thepeoplesaudit Thank you to Kris Jurski for digging deeping into this; the million dollar question is how many states is this happening in??
I have no idea if this is connected but yesterday Warren Buffett is selling real estate investments, google it.
My gosh it over a trillion dollars....pensions and homes could be taken from you!!!! How fraudulent property tax hikes are triggering a CLO-fueled pension crisis — and recreating a 2008-style financial disaster with a new twist. CLOs = collateralized loan obligations, the new CDOs.
There are local governments in numerous states inflating home appraisals by +30% or more, using bogus comps. Why? To boost property tax revenue — on paper. Most homeowners don’t even realize it. See yellow graph with the 15 most likely states doing this, in another post above. They have been doing this over the last 1-10 years.
That fake revenue is used to issue municipal bonds, often at 20-to-1 leverage. $1M in tax? $20M in debt.
That debt gets repackaged into CLOs (Collateralized Loan Obligations), rated AAA, and sold to pension funds as “safe income.” But it’s all built on phony numbers.
School boards & muni officials are the financial gatekeepers — approving budgets, bonds, pensions.
They’re not just about classrooms anymore. They're managing billions.
When reassessments or appeals roll in, or a recessession/unemployment tax revenue tanks.
→ Bonds default.
→ CLOs collapse.
→ Pension funds eat the losses.
The feds are already bailing it out.
-$36B pension bailout (2022)
-ESSER COVID funds funneled into pensions
But the system is still a ticking time bomb.
This is 2008 all over again, just with a new flavor:
🏚 Fake tax base
💸 Overleveraged bonds
📦 CLOs (in ~2008 it was CDO's)
🧓 Pensions left holding the bag
And again see my other posts for more details, plus the top 15 states likely doing this in the yellow graph I created, some states are just doing part of it: fraudulently inflating property values just to increase their yearly take into their coffers.
This is worse than 2008 mortgage crisis, instead of using mortgage payments as collateral (and inflating those greatly), the crooks are using property tax revenues out decades for collateral...but again inflating the appraisals, then leveraging the heck out of them.
This could be YOUR local school district, YOUR local city, county or state.
Thanks to Leah Hoopes for her great article with some of her findings incorporated in the above.
