UnlistedMichael Jaco & Juan O Savin: GITMO Update 4.22.26 - Major Arrests Taking Place

Well, presentations that he's done, uh, and he's going to give us some, uh, presentation here today. Thank you guys for joining me. Hey, good to see you there, Michael. Yeah, absolutely. And, uh, so God, there's so much going on in the world. It's like they try to distract us a lot, you know, so we, we don't focus on this fraud stuff. Uh, I think it's part of their game. Uh, but we have to, uh, like, and thanks to both of you gentlemen, uh, many of us now are becoming aware that this is a very, very critical, uh, getting down to the wire. Well, you know, let me just say this, David, um, uh, David and I met through, uh, my friend, Scott Bennett, and I had helped get Scott out of prison over in Germany on trumped up bullshit charges because he was exposing the fact that, uh, our own intelligence agencies were funding terrorist groups and, uh, through the banking system and like that. And, um, so, uh, while he was free and then he did stuff into Iran and into, uh, uh, the Russian, uh, side of the Ukraine, uh, situation and, um, after Scott passed away and he had tried to put David and I together a couple of times before he passed. And we never really got a chance to actually, uh, uh, you know, do a mind meld. And then in the aftermath of Scott's passing, uh, David and I had opportunity to work together on some stuff. And, uh, David, uh, you know, I, I'd done so much of the financial stuff and Scott was doing the financial stuff and, um, in getting into it with David, uh, comparing notes we'll shoot David's working on school bond stuff. I was looking at other stuff and, um, it just really, uh, the work that David has done is world-class. Uh, and you've been in at what David, you know, really at this point, probably 11 or 12 years, really. I mean, just all in. Yeah. All in would be since, um, about, uh, August of 2016. That's when it, you know, that's when the rent started to fall, fall apart. Well, I'll just add this for people that aren't aware you're a California attorney and had actually been, uh, working as an attorney, um, to school districts for quite a long time. And so you're actually, you know, sit on, you know, as an advisor to school. So this is not virgin territory. You've been at it for a very long time and realized that there were some problems. And then as you're going against the problems, they're wanting to shut you down and send you away. Uh, am I saying it right? That's correct. Yeah. So, I mean, you've got a history that does the moon you're you've been, you've been trying to do the right thing on this for a very long time. And then the thing that just blew my mind, you had everything dialed in. We're ready to go to war and COVID started right. As your cases were moving into the discovery phase to expose the frauds in the school bond stuff, which is so severe, just school bond fraud all by itself is adequate. It's, it's easily on the low side, 10 times worse than what happened in 2008 with the financial crisis that is so fresh in so many people's minds. Uh, it's at least 10 times as bad depending on who you're talking to and what part of the country, and it's more like a hundred times as bad and, and, uh, could take the whole country down. And I think the plan has been to take us out right. As we get into exposing the criminality in other areas of our government. And this would just shut us down, distract us. We'll move forward. So anyway, uh, you're doing amazing work, uh, and you'll be doing a presentation again at this, um, uh, fraud fighter summit that, uh, I'm doing in, uh, uh, mid June 15th, 16th, 17th at the AARN. So, uh, you're like a central piece in the whole, uh, presentation. Very good. And, uh, yeah, we have that link for the AARN event in the description box guys. And Juan, you are so hot on this stuff. I remember, you know, I had Sean Taylor and we did a lot of shows together in the beginning and you picked him up and you moved into the next level. Uh, so he was exposed in a mortgage fraud on a massive scale. And now you're, you know, helping to move the, uh, the awareness to the, uh, the school bond, uh, fraud. So before we get to David, you brought up Sean Taylor. Let me just tell you a Sean Taylor, um, a warrior's warrior, uh, out there in Tennessee. Um, they've gone after him legally in a bunch of venues, um, because he's exposing the mortgage frauds and across the world, you know, across the country as a mechanism to fund, um, a lot of this, uh, mischief against the country groups and things like that. What David's found is a mechanism where they're funding, um, a lot of these, um, political groups, uh, you know, through various aspects of the school bond fraud. It's not just one thing. It's, it's 20 things. They got, they got more scams going. They can't even keep track of all the scams they got going within the bond fraud. But Sean, um, has been, uh, right there presented to attorney generals from a number of states. Nobody has refuted anything he's presented. And yet, um, just, uh, last week before Bonnie was, was, uh, let go, um, they, uh, pushed him to the curb again. And it was very frustrating. It's very frustrating for Sean. I mean, he wears this on his sleeve. He's like David, he's just lived and breathed this, uh, for many, many, many years. And, um, so he's very frustrated. However, um, there's things that are happening even in the last few hours over at department of justice that are, uh, turning the corner again on, on new stuff, um, going after all these, uh, you know, persons and operations, uh, they're fraudulent. In fact, here's how, here's how wild it's gotten over at department of justice today. Um, Todd Blanche announced and, and had people at department announced that going after this Southern poverty lawsuit, which is a very left-leaning operation. And, uh, they're going after them for, um, creating false records and then, um, encouraging, um, donations based on these false records, um, that were supposed to show how, uh, police officers and police departments were going against, you know, these protest groups and, uh, um, that they were, you know, essentially creating false data and putting it out to people to get them to make donations. And so now they're going to go after them and prosecute them for, um, essentially a type of racketeering where they were producing false histories and then, uh, promoting it to, um, do their political stuff. So the tide's definitely turning over there since Bondi's left and Todd Blanche's audition to try and be the permanent attorney general. Uh, I don't know if he can go far enough, hard enough, fast enough to make that happen. Uh, Peter Tickson wants the job too, but we'll see. So David, let's, uh, I'm going to pull up that, um, presentation, uh, that information sent me and then we can, uh, read that if you'd like. And folks need to folks need to understand. So David and I, cause, cause I have a very bizarre schedule. Um, and it doesn't follow any pattern. Um, uh, even like this morning, I think it was three o'clock in the morning, David, and he had something new he uncovered. You're, you're at this 24 seven, just like the rest of us, you know, middle of the night. And I just found this. Wait, wait, wait. You're not going to believe it. Hold on. It's it's amazing. You're, you're, you're really in the thick of it, David. So, uh, what you have up is the official statement for the blue Lake union elementary school district, which is up in Klamath County or I'm sorry, Humboldt County, California up North, just South of Del Norte County. Um, it's a, it's one of 32. I think it's, it's about 32 districts in Humboldt County. So this is just a very small, uh, a school district and it's an elementary school district, but has great kindergarten through sixth grade, uh, could have up to eight, but I'm just giving you the basic background. So this is blue. And by the way, David, just tell people, how many school districts are there in California? You have what? 54 or 58 counties, but how many school districts do you have in California? Yeah, there are 58 counties in California and approximately 940 different school districts. That includes elementary school districts, uh, high school districts and unified school districts, which are a combination of both. So there are 900 and you could have, and every one of them has the ability to try and float bonds, get taxpayers locked up into them. And you can have overlapping districts and bonds. It's just insane. Yeah. So what's interesting about this, it, let me just kind of walk you through the basics. If you'll notice it's a, it's almost a $2 million issuance. Uh, the second sentence on the first paragraph, not the upper paragraph, but the under the date of delivery, it says the bonds were authorized at an election of the registered voters of the district held on June 8th, 2010, which authorized the issuance of $2 million principal amount of general obligation bonds for the purpose of finding financing, the addition and modernization of school facilities. So, so this is one issuance, which has to be approved by voters. So what happens is basically a board of education gets together, produces a resolution. And that resolution that proposes the measure that it's going to have the $2 million. And then that measure is put on the ballot and then the voters get an opportunity to vote on it. If it passes, it gives the school board the authority to issue bonds up to $2 million. For example, this is blue Lake Union elementary school district for $2 million. The same process holds true for Los Angeles unified school district when it runs a $9 million bond or a $9 billion bond or for, for long beach unified or for San Diego unified bonds can be hugely like 1.5 million to up to 9 million, 9 billion. So this is a small district, but this is typical of some of the actions that have taken place in California. So they're issuing a $2 million bond on the next page. You see the maturity schedule, you have the maturity schedule available. Okay. So you see here, there are various components. You see there's 1,755,000 in current interest bonds. That's in the top section. And then the maturity schedule over the, over the left from 2011, 2014, 15, 16, then go over to the right and you see 17, 18, 19, and 20. So there's about 130,000 of that 170, 755, uh, 1,755,000 that are current interest on top of that, you have 1,625,000 in term bonds due out in 2047. So the serial bonds are the ones from 2011 through 2020 and the term bonds are those in their recruiting interest and accruing value until August 1 of 2047. Now underneath that, if you go back to the first page for a second, you'll see it's 19926440. Let's go back to the second page now. And here's the additional 26440 in capital appreciation bonds. Now these capital appreciation bonds are going to be issued, um, right after, right after the official statement is public, the, uh, the capital appreciation bonds were issued and they're issued from 2021 through 2040. You'll see that on the left, those are the maturity dates. That's going to be coming, it's going to be maturing. So we basically know that the bonds are running and accruing interest for 10 years before they even start being, before they even start maturing, the first one maturing in 2021. Now, if you look at the accretion rates, it starts at 4.39%, goes to 4.66, 4.89, 5.12, 5.35, 5.7, and then suddenly jumps to 12%. Wow. Okay. That is a stunning increase. So what happens is for a quarter of a million, basically a quarter of a million dollars, $244,000, the district has to pay back over $1,820,000 20 years, 30 years later, because this, this, this bond is taking place. I forget the date of it, but it's around 2009, 2010. And here it is coming due in 2040. The total amount would be $1,820,000, which is basically you're paying back the full amount that you borrowed at the beginning as a maturity value, not counting all the other money that's been paid back under the current interest bonds and the term bonds. So, so that means that the capital appreciation bonds are at a charge nearly seven times more than the initial amount. And this is going all on all over the state of California. So this is where the fraud is, where they're upping the, uh, the accretion rate. Cause normally a bond holder is going to get a certain amount. Uh, who's getting all this other money? Well, that's a good question. Who knows? I mean, this is this money. There are principal parties in the transaction. There's the issuer, which is the school district itself. There's district council who looks over the documents. There's also bond council. Let's look at it. See who the, go back to the first page. Let's look at the bond council. We'll see. It is, uh, one more, a little more up, uh, is it doesn't, that's strange. It doesn't have bond council in here. This is a San Diego, California bond council. Yes. GCR LLP. Go to about the third or fourth page. And do I send you the whole document? Oh yeah. Okay. Uh, one more page at the masthead here. It'll have the financial advisor. Oh, bond council and disclosure council, which is GCR LLP. I've never even seen that as a firm before or a, uh, bond council or disclosure council. So the financial advisors, Caldwell floors, Winters Inc and the treasure tax collector is a paying age. So whoever DCRL LP is, that's your bond council. So, so they're taking a look at it as, as bond council and disclosure council. And then you have the underwriter who's doing the deal, which is stone and Youngberg in this, in this instance. So that question should be directed to those entities, GCR LLC and stone and Youngberg. Yeah, I was reading through this and I thought it was very interesting. Uh, the assured guarantor guarantee municipal corp makes no representation regarding the bonds or the value advisability of investing in the bonds. In addition, AGM is, has not independently verified, makes no representation regarding and does not accept any responsibility for the accuracy or completeness of this official statement or any information or disclosure contained here in, or omitted here from other than with respect to the accuracy of the information regarding AGM supplied by AGM and presented under the heading bond insurance. So it's basically, basically they're disqualifying themselves for any, uh, accountability. Yeah. Errors, omissions. Yeah. Misrepresentations. Correct. Crazy. So, so here's an, this is a classic example of, uh, $254,000, uh, purchasing bonds and getting paid back 1.1 million, $820,000 30 years later. It's unbelievable. Crazy. And, uh, you know, and this is going, they'll reissue them and, and add on to them and, uh, make, make more money come into them and all, all kinds of crazy stuff, right? Yeah. There's a, you know, I'm not going to speak for what, what the districts do. They know that better than I do. I mean, I know where to look and I know what to examine and what to check on, but frequently, uh, you know, the, the money under proposition 39 is required to be spent solely on, uh, on capital projects, financing, uh, the funds are for financing, capital projects, buildings, facilities, and the like. So it's, it's basically for infrastructure for the school district, the housing of children and the money that's is restricted for those uses. It's crazy. Yeah. I remember going to school and, uh, we had, we went to school and old buildings that had been there for decades and decades. Like some of them, like, uh, my parents went to, so, uh, it's, it's kind of a, these buildings can last a long time. Obviously, but, uh, they keep rebuilding and rebuilding on more, but the birth rate in America is way down. And there's basically a lot of people, especially in California that are leading California. Uh, so you don't have as many students as you used to. Yeah. I have a lot of declining enrollment taking place throughout the state. Um, you also have an influx of new immigrants from, uh, all sorts of countries that have made their way into California and you have a lot of, uh, a lot of expenses associated with, uh, teaching them English and, uh, basic skills, reading, mathematics, et cetera. So there are a lot of demands placed on this, on the school districts. And I don't think all of this money is being directed toward facilities. No, definitely not. And, uh, you know, new computer systems and all that, because if they say that in the, uh, in the outline, you know, what, what they're going to be spending it on. I'm like, okay. Uh, and you have like 287 students, you need $2 million for all these computers and everything. It's like pretty suspect. Yeah. They had, uh, in fact, LA unified had a problem where they spent on funds on computers. Bond funds are supposed to finance projects over 25 years at least, uh, under government code, uh, bonds are issued with a lifetime expected, uh, for up to 40 years. Um, so whenever these on funds are being used, the idea is the project is going to be 25 year project, 40, 40 year project, or even longer to be, you know, a stadium that could last for hundreds of years. But, um, as the facilities are constructed, there need to be complete and accurate records needs to be on oversight committee. There should be auditing performance and financial auditing taking place on an annual basis as required under proposition 39. And I just don't think, I don't think the all of the districts are thoroughly familiar with the, with the requirements of the strict accountability and local school bonds construction act of 2000, uh, the pervasive requirements, you have to be in compliance. Otherwise you're, you're risking the bonds being the tax exempt nature. Yeah. And, uh, you know, we're talking earlier before the show and, uh, Mitch Bexler has been on my show and had talked about that. He was at the bond fraud and I've seen him on several other shows over the years. He's really, uh, you know, outlining how property taxes basically they're defrauding everybody through property taxes to pay to pay all those costs that you outlined there. Uh, it's insane. So that fraud that you just exposed here, uh, is being paid by people in California where their property taxes, which continually go up. And there was, uh, somebody just made a comment in here. Uh, let me put it back up. We have, we have another 4% school tax increase here after the max they were allowed to increase last year. So this is something to continually increase the taxes. Uh, and when someone comes in and assesses the, the tax or the, you know, the tax, the tax rate, property tax rate, uh, insurance goes up. It continues to the tax rate. It continues to go up. Yeah. But the percentage of tax they're, they're, they're caps on how much tax can be applied to property. Um, but the duration of that tax just continues and continues and expands with the, you know, the increase of, of property value. Yeah. In fact, if you go back and look, it's interesting because Eli Broad who back in the, I think he's from, I forget the name of the housing company that he started, but it was, uh, he was quite instrumental in recruiting governor Roy Romer to come in and add LA USD. Well, governor Roy Romer was a, hired as a superintendent, but he didn't have a credential of teaching credential and he didn't have an administrative credential and both are required to be a superintendent under California law. Yeah. That's seems to be another thing they do. They bring in these criminals. Uh, they don't have any, uh, you know, reason to be there. They have no, no credentials like you're talking about. Uh, they're just criminals that they, they stick in there and they know that they'll let them get away with their fraud. Uh, and that's, that's one of the things that Mitch Vexla were saying, don't stop paying your property taxes. Go after the fraud. That's how we win. That's how we beat this. Yeah. Well, it's, you know, the, the problem is that the people that are involved are not really criminals. They really don't understand what's taking place. I'll give you an example. There was a Alan Burson who was a United States attorney, San Diego, Arabia, a very well respected guy. He went in to serve as the superintendent of San Diego unified, uh, for a period of about 10 years. And in the first 10 years, he was about nine years. But in the first years he was there, he issued year after year, millions upon millions of dollars in school bonds. And, uh, those, those issuances were always coupled were almost always coupled with a large of 10% or so of capital appreciation bonds. In his first issuance, the whole thing was capital appreciation bonds. But I just think I, you know, this is not, this is not a guy with any criminal intent. And I just don't think he understood what the effect of the issuance of such a high degree of capital appreciation bonds, the amount of debt that it would impose upon the taxpayers. Yeah. You know, you've got Roy Romer, you've got, uh, Alan Burson, you've got, uh, he's the candidate, uh, candidate for Los Angeles mayor. Oh, Austin Buettner, who was, who was a billionaire who came into to head up LA unified school district. He was in for my 2018 through 2021 as a seven and a half billion dollar bond. Approximately that number. And he didn't have a teaching credential. He didn't have an administrative credential and he's in there running the district like it's a business. Wow. Crazy, crazy. And you were talking for the show, you were involved in this a little bit, but you had to get out because it was just so corrupt. You couldn't, you couldn't stand it. So that's, that's kind of the way it is. So why do you have any, any, uh, other, uh, if you're still there, do you have any other, uh, thoughts on this? This might've lost him. So David, any, any other, any other thoughts on this? Well, the only thing I would, would stress is that proposition 39 requires a citizen's bond oversight committee, which is supposed to be, in place they're supposed to be well-trained. They're supposed to be educated on performance audits on financial audits so that that group can report anything that goes wrong in, in the expenditures of bond proceeds. So they can report it to the public. But in my experience, uh, the citizens bond oversight committees are just filled with, uh, friendly appointees who just accept and sign off on the documents put in front of them. So it's very disturbing because I don't think they're performing the duties that they're supposed to execute while, while in the position. So how, how do we defeat this? Yeah. I mean, you, you had some ideas, but you weren't sure that you wanted to share those yet. What, any, any thoughts, citizen activity? What, what do you think? Well, the first thing, I mean, there's a number one, the counties, I think the 58 counties of the state of California have to be very, uh, adept at looking over the credentials of the people that are running the school districts. They should be experienced in education. They should have, uh, they should have earned a teaching credential. They should have also earned an administrative credential. They should have been in the process of, of, uh, administration of the school district for five to 10 to 15 years before they move into the positions where they can affect and impact, uh, the, uh, expenditures of the school district and the direction of the school district. So what's very hard is that, that in, in California, uh, 50% of our budget goes toward education and the amount of tax money that we have, the amount of money that flows into education is just phenomenal. The most interesting aspect of this from my, from my perspective is that people are forced to pay taxes to support education. Now I understand that because you, you have to, you know, you have to provide, you have this duty to provide education because the premise is, that the instruction, the promise of education is the instruction of wisdom. So we want to transmit that, that, uh, the awesomeness, the discernment, the knowledge, the prudence, the righteousness, the spirituality, and the understanding of everything. And if you advance reading, if you advance mathematics, if you have mentoring, then you're helping the students out there learn about their ethical values and about their personal obligations and about their, their personal conduct. And I just see the direction of education in the state of California going off the rails. I mean, it's just, you know, it's just off the rails entirely and it's very disturbing. It's very upsetting. And, uh, you know, the impact it has on people's lives is truly disruptive. I mean, I think it's, I think it's just a shame. Yeah, definitely. So what, what do you think the end date for this is? There's a lot of people saying we're close to the end now. What are your thoughts? Well, for California. Yeah. Cal, well, if, if, uh, vice president Vance and his team get into California, I think they're going to be shocked at the nature and extent of the, uh, a school bond fraud that has taken place. Um, I believe that, uh, that we're looking at 2030s are going to be very difficult because these, this window for the bonds was between 1993 when capital appreciation bonds were permitted, uh, through 2014, January of 2014, where they were restricted. But the impact of those bonds issued between 1993 and 2014 involved just billions of dollars. And that's going to start hitting, you know, starting to hit now in the 2020s and the 2030s, because those bonds can be issued for between 1993 and 1998. It can be issued for as far out as 40 years. And from 1998 forward, uh, for education bonds, it can be issued for up to 25 years, but in some exceptions, you can still go out 40 years. So, so the dam, there are the games that occurred between 1993 and 2013 are going to start hitting hard in the mid thirties and forties. And it's just going to be, there's going to be hell to pay. And it's going, it's, I think it's, I think it's just going to be, uh, it's going to make education a real luxury when it should be available to everyone for free. Yeah, definitely. All right. So, uh, Juanito, Juanito, come in Juanito. Uh, we'll, we'll just, uh, I don't know what happened to him, but, uh, we'll, we'll call it here. All right, David, any, any last thoughts, uh, on the bond fraud school bond fraud? I know you're, you've done several presentations. Uh, you've done it, uh, for Lewis Herm at Lewis Herms event. Uh, that was fantastic. And, uh, you did it at the, uh, the bond fraud, uh, in Vegas. You're going to be there for the next one, uh, in June, mid June. Uh, you're going to come in and bring in some more information. I mean, you, you just found this, this latest one. You're like, Oh my God, here's another one. So how many, how many more before people, uh, you know, wake up, do you think? Uh, I think it's going to come at a great personal cost. I believe that, uh, you know, the, I have a, I have a friend of mine. I referred to him as Oppenheimer because he knows more about bonds than anybody on the planet. And we're both shocked at what we're finding. I mean, on a daily, weekly basis, just keep finding more and more and more. And it's so disturbing because there are, like I said, there are 58 counties, 937 districts in the state of California. And we're not even talking about the community college districts, you know, that operate under the same rules. So this is, this is very alarming. It's very disturbing. And it's an opportunity to, to have our County office holders take a hold of the problem and make sure that our superintendents have degrees, make sure that they have credentials, make sure our teachers have degrees, make sure they have credentials, and let's keep education pointed in the right direction, transferring knowledge, wisdom, and understanding. Very good. All right, David. Thanks so much for coming in and sharing, which we had wanted to give a little bit more insight on this, but that's that's where we're at right now. So, yeah, good. Thanks everybody. And we'll see you guys next time. Thank you very much. I'm good. I ain't trying to patronize you enough. Oh, well. Oh, well. And like I said, like I said,