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FREEDOM AND UNDERSTANDING P.E.R.S.

 

 

By Fred Starkey
March 27, 2012
NewsWithViews.com

Thomas Jefferson: "the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale."

John Kennedy: "the belief that the rights of man come not from the generosity of the state, but from the hand of God."

The problem with understanding PERS (Public Employees Retirement System) is that it requires an immense background of information in history, economics, finance, markets, law, religion, human nature, ethics, and from this, a historical perspective. This idea was thoroughly discussed in Cultural Literacy by E.D. Hirsch, Jr. in 1987, which is even more applicable in today’s culture than it was at that time. “American School Materials from 1790 – 1900 were in almost complete unanimity in values and emphasis in textbooks. They consistently contrasted virtuous and natural Americans with corrupt and decadent Europeans; they unanimously stressed love of country, love of God, obedience to parents, thrift, honesty, and hard work; they continually insisted on the perfection of the United States, the guardian of liberty and the destined redeemer of a sinful Europe.” But today, many in our society are illiterate. In fact, according to NAAL 43% of the people can’t read and only 13% of adults are considered proficient. It brings to mind F.A. Hayek: "It takes a large group of ignorant (illiterate), gullible, and docile people to move from Freedom to Socialism."[1]

PERS in Economic History is a Financial Fraud and a Swindling Scheme. The new alchemist is the actuary: the wizard of numbers, which he manipulates to present a misleading future. Moreover, his current algorithms are not working as the cost of PERS payroll is going up another 6% in 2013. This can be easily proven especially under the definition by Jefferson. PERS does not need reform it needs to be shut down and liquidated. We are now in a condition that we either liquidate PERS or the citizens, their property, and their families will be liquidated. That is what history tells us. PERS is not new: it is a history repeat.

Fiat Paper Money, the History and Evolution of our Currency, by Ralph Foster, proves that all paper currencies eventually go to zero: that’s PERS, your savings, and your cash. This is what history tells us. So, we know the end, because we have seen it happen in other countries, who took this similar path. But, time is short if we are to stop this financial train wreck.

We study history so hopefully we won’t repeat the mistakes of others. Jim Rogers, the legendary investor, said to study history, not business if you want to be successful.

When my daughter (6th of 6 children) came home from school (Honor roll student) and asked me: “Dad what’s liberty.” I thought what are they teaching at our government schools?

Then I asked my daughter and I would ask you: “why did all these people go to war and die for their country? why do we still sing the music?:” “land of the free, the night from the light from above,” or listen to the soul stirring rendition by Ray Charles of America the Beautiful: “who more than self their country loved, God shed his grace on thee, confirm thy soul in self-control, thy liberty in law” and, “Sweet land of liberty, land where my fathers died, long may our land be bright with freedom’s holy light.”

See, we have had the wool pulled over our eyes. Somebody blew out the candle. But, maybe we can light it again if we go back in history to understand.

America, the USA, freedom, and liberty cannot be understood without the Bible. In James 1:25: "…the perfect law of liberty…" I have been going to Church for over 40 years and have never heard a sermon on the “perfect law of liberty”: have you?

In Romans 13:1 we find the word powers. In Greek, this is translated “exousia” defined as “power of choice, liberty of doing as one pleases." "This inalienable right to choose is man’s responsibility to govern himself under the providence of God." In other words, similar to Kennedy’s belief stated above, we get our rights from God and not from the State. Moreover, Gods laws are superior to man’s law. Therefore we should always obey God and his laws as our first priority.

This was the clear understanding prior to and after the revolution. It was Thomas Paine who galvanized the American Revolution through a small pamphlet called Common Sense published on January 10, 1776. In Chapter Two his arguments were supported by references to Gideon, Judges, and Samuel of the Bible. His proposition was to replace the principle of heredity and privilege with the ideals of talent and merit and stated “tyranny like hell, is not easily conquered.” PERS is tyranny. It is analogous to this heredity and privilege concept. These people have set themselves above others as the omniscient “crème de la crème” with superior privileges for the bureaucratic elite. This proves that human nature upon which the constitution was written is repeating.

Consider: “The Millionaire Next Door” by Thomas J. Stanley states on page 2:

The top 20% of all Americans after home equity have a net worth of $60,000.00.

Only 2.8% of all Americans are 1st generation millionaires. Yet, the average 30

Year PERS pension at $50,000 a year includes: zero contribution to the pension, a 2% COLA, exemption from state income taxes, no management fee, and health insurance: which is a cost of approx. $15,000 plus a year in the private sector. This is being funded at 50% or less using the 8% discount rate as compared to the private sector. The capital required to fund this pension in the private sector is around 1.5 Million. Yet, these people are saying they could have saved this amount of money in 30 years (age 55) by working in the private sector. Do you believe these people are delusional? I do.

In comparison these are the aristocratic, privileged people that were America’s enemy when this country went to war and declared their independence. They refused to worship King George and said they receive their rights from God not from the state. We all know what happened. Will history repeat?

Ecclesiastes 1:9: “The thing that hath been, it is that which shall be; and that which is Done is that which shall be done; and there is no new thing under the son.”

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In the next article we will discuss the mechanics of PERS: why PERS is a Financial Fraud, a Swindling Scheme, and why it cannot be paid.

I want to thank the Lane Conservative Forum and the Register Guard for allowing us to publish an understanding on PERS within the current financial debacle or meltdown. We believe this issue is of great importance to the citizens of this state, the businesses that support this state, the people, families, and the children who will pay the future taxes to support PERS.

Footnotes:

1- [Or, with a track record like that Public School Teachers should not be rewarded with a lavish retirement benefits package even one that is solvent, let alone one that is clearly
Not (This is Diane’s writing)]

2012 - Fred Starkey - All Rights Reserved

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Fred M. Starkey was previously the Lead-Long Term Analyst for Shearson Lehman out of NYC. In One Year he was the most followed analyst out of 30 by a 5:1 ratio. He turned down a lead analyst position with Merrill Lynch and Pru Bache in NYC, recruited by Stotler and Company, and transferred to Oregon. He is now a private consultant to FCM’s, Grain Merchants, Wheat Farmers, Cotton Mills, Cotton Merchants, Gold Bullion Dealers, and others regarding pricing, hedging, and forecasting. Fred has been married for 37 years, the parent of 6 children, and lives in Springfield, Oregon by the McKenzie River.

E-mail: harborlightsinvestment@msn.com


 

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PERS in Economic History is a Financial Fraud and a Swindling Scheme. The new alchemist is the actuary: the wizard of numbers, which he manipulates to present a misleading future.