This post is made up of 3 sections:
(1): An introduction to the financial piracy; a standard practice.
(2)(Italics): The Governments response to the knowledge of the post and their immediate defense proving beyond doubt exactly what they are up to.
(3)The summary; actual post as to the mechanics, how and why and the results.
It will be much worse in the future leaving Albertans the laughing stock of the Conservative world!
I sent Alison Redford an email with an outline of what I was about to post asking if she had any comments. This prompted a call by them for an immediate meeting of the Treasury Board; invited guests only.
The Conservatives are totally immune from investigation no matter how criminal they are! This is a fact, not some cooked up imagination thing; take it to the bank!
On top of this, many millions of dollars are being paid to the management of AIMCo, out of the same pension funds.
Simultaneously to this post going up AIMCo. which had a 70 billion dollar in Alberta pension Funds reported a 7 billion (10%) loss for last year! They have only 1 customer, the Alberta Government. I know my own pension funds took at hit of 1%
Monies are being transferred out of the fund into the General Operating Expense account where it is used to pay bills there-by allowing the Government to artificially reduce royalties which were to be paid by the resource people. They have successfully reduced these royalties to below 5% Canadian dollars where as both BC, Saskatchewan and the east coast are sitting at 20% US dollars! The people in this province are actually paying the companies to take the oil from the province!
They have absolutely no intentions of paying back the Heritage Trust fund and they don't have any intentions of paying back the monies taken from the pension funds. Indeed; these monies may well be lost and they don't have the 8 to 12 billion dollars they have heisted.
The way they did the drain on the Heritage fund was to peg growth at 4% saying that is rich enough for the Alberta population. They took everything above 4% and put it into general revenues. AIMCo, beyond making the process easier, keeps the pension figures away from the Government workers claiming it is separate.
It is not enough municipalities complain to this Government. It is enough however that you get some lawyers on side and see what you can salvage. Get the Unions involved, now!
The Wild Rose Party will not offer you any different. They are very much on side with these actions and they continue to promise you they will supply more of the same. They are made up of Conservative executives who want the golden ring for themselves. Time is now for important decisions.