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America Is Not Broke, Revisited

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Burien includes 3 links from Carl Herman, below. I suggest anyone who is unfamiliar with the CAFRs watch at least the shorter first and third videos. If you are not absolutely shocked by how much money is actually available to us through the various off-the-books government accounts, well, then you must be familiar with the CAFRs after all, or with 3 of the other major economic reforms I'll talk about in a moment. Two other of these reforms -- Credit Reform in the form of Public Banking, and Monetary Reform in the form of debt-free sovereign money, are discussed as well by my colleague Carl Herman in his interview on the Infowars News (the third link):

Links below added by Carl Herman from his article:

Thrive's (documentary with 32 million views) founder Foster Gamble's 7-minute explanation on Walter's work with CAFRs:

Walter's 2011 72-minute full documentary on CAFR:

Carl Herman's 2012 23-minute interview on Alex Jones' Infowars news on CAFRs:

I've had parallel paths with Carl many times over the past half dozen years or so, and quoted him in my book, America is Not Broke!, along with Walter Burien, and Public Banking movement founder Ellen Brown, and leading Monetary Reformer Stephen Zarlenga (cited by Carl in his video too). We are both, along with Ellen, members of the Public Banking Google group. Zarlenga has his own discussion group and his seminal book, "The Lost Science of Money" put out by the organization he founded, The American Monetary Institute.

There is a fourth major reform not covered by the people mentioned so far, which I cover in chapter 2 of my book, Land Value Taxation, aka the Georgist Single Tax. This reform could produce at least as much non-inflationary wealth as Public Banking and Monetary Reform, and, if certain recent aggregate totals of Land wealth are to be believed -- including a 3-year old Time Magazine report which showed $128 trillion just in oil and gas reserves alone - maybe even as much as the 10s of trillions invested in the government funds documented by the approximately 200,000 CAFRs.

I discussed this reform with long-time financial and land reporter and Georgist Fred Harrison in 2013. The video of that discussion and specific numbers for New York City may be seen here, along with a video of Fred interviewing probably the best-known Georgist, professor Mason Gaffney, at the end of that article.

Land Value Taxation tends to be a local matter. I talked about the billions left uncollected in New York City alone at the Henry George School, a year and a half ago.

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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:

Scott is a former President of Common Ground-NYC (, a Geoist/Georgist activist group. He has written dozens of articles for (more...)

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