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It is for educational purposes only.

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The school districts are bankrupt, and by the way, I defy any person in the government to simply sit down with a piece of paper and say, okay, we got X amount of dollars

outstanding in bonds. How are we going to pay it off with an amortization schedule at 7%

compounded over 30 years, effective today? The answer is you can't. The following is the audio

version of a video released at peak prosperity.com.

Visit peakprosperity.com to watch the video and to find other insightful content,

such as articles, discussion forums, and exclusive subscriber-only content.

Hello, everyone, and welcome to this very special edition of Finance You.

I am your host, Dr. Chris Martins. Today, we're going to cover real estate taxes.

I know it sounds a little bit, what can you do?

Everybody hates them.

Nobody likes them.

But we're going to find out that these things have the way it's been conducted in this country.

Well, as Mitch Vexler, today's guest talks about it, this is a Ponzi scheme of biblical proportions.

Mitch, welcome back to the program.

It's so good to have you back on such an important topic.

Did I overstate anything?

No, probably understated in reality. It's

pretty bad and it's getting worse. The compound cumulative effect of the interest on the

outstanding fraudulent school district bond debt is such that the con is when they raise bonds,

...