Summary of the Real Problem
Retirement Plans & Municipal Bond Investments
By Mitchell Vexler, March 11, 2026
Do you know…
…that about 60 million Americans actively participate in 401(k) plans, with around 600,000 plans available. This number includes both current employees and many former employees and retirees.
…that approximately 20 million Americans are covered by state and local government pensions, which are a significant source of retirement income for many public workers?
…that about one-third of older adults receive income from various pension plans, including private
and public sector pensions?
Types of Pensions
- Defined Benefit Plans: These plans promise a set monthly payment in retirement, primarily found in public sector jobs.
- Private Sector Plans: Some private employers also offer pension plans, 401(k)s, etc. often with very minimum employer contributions.
Economic Impact
- Pension Benefits: In 2025, pension benefits paid out amounted to $680.6 billion
Participation Rates
- General Participation: In 2023, about 56% of all civilian workers participated in workplace retirement plans, which includes pensions and 401(k)s.
State and local government pensions often provide more generous benefits compared to private sector pensions, with a higher percentage of public sector employees participating in salary-linked pension schemes.
However, many private sector workers have seen a decline in pension coverage (employer participation), making direct comparisons complex due to various factors like contribution rates and retirement age.
School district bonds are a significant portion of municipal bonds.
Many people are not fortunate enough to have a 401k or a pension and may be dependent on social security, what if that fails?
What is your pension or retirement plan invested in?
This is a partial list of “warning” Articles found under the Articles, Letters, and Discussions section of the evidentiary platform at mockingbirdproperties.com/dcad.
- Amicus Brief
- The Importance of the Vexler case to Texas and the United States
- Equity Stripping + potential loss of value in 401k & Pension = Result of Property Tax Fraud
- A Bankrupt Population is a National Security Risk
- Crisis of Confidence
- They knew in 2015 the Bonds were toxic (Important Video) – Whitewashing your money
- For The Kids
- Criminal Complaint was filed with the SEC, DOJ, FBI, Texas AG, Texas State Comptroller, Texas Office of the Inspector General. The AG is now in default of Texas Education Agency and failing to respond to the FOIA request. The Texas AG in response, on 12/7/25, issued an investigation on 1,000 school districts for overvaluation.
Real Estate Taxes (aka property taxes) are bankrupting Americans. See below.
The difference between surviving and bankruptcy
is the Real Estate Tax!
CADs across the U.S. are fraudulently increasing property values and School Districts are creating bond fraud and accounting fraud against all real estate owners, property taxpayers, bond holders and from which fraud slithers its way into 401(k)s and Pensions, all in violation of Constitutional Rights of the victims being SOCIETY at large by:
- Creating fake income and expense data,
- Destroying Appraisal Work Records, before and after subpoena,
- Hiding property values from the Public,
- Utilizing multiple disconnected databases with different data between them,
- Manipulating the property valuations in Excel outside of the already corrupted databases, and then further increasing values at the demand of the State Comptroller via the Property Valuation Study,
- Deploying fraudulent and inconsistent subcategories / Class Codes for the sole purpose of manipulating values in their sole discretion outside the confines of USPAP, Mass Appraisal Standards, and the Texas Property Tax Code, and with no uniformity of application of the law and no adherence to the law. The Software at the CADs is design to allow the employees to cheat, and if that is not good enough for them, the employees have “workarounds”,
- Intentionally not using legitimate comparisons,
- Aligning and increasing Appraisal Notice Values, made up to suit pre-determined budgets which have absolutely nothing to do with USPAP or quantifying the true market value of properties,
- The CADs are depending on the ARB process to buttress the crimes committed thus making the ARB members co-conspirators in the CADs crime of fraud,
- ARB members are not independent as required in law, and are unqualified in all respects to property valuation, math, USPAP, and appraisal law,
- Creating “workarounds” of the software including taking 60,000 properties out of the data base, manipulating them in excel and putting them back rendering the entire data base 100% a fraud. Data Set A, B, C, D, E. If B is wrong, then so is A, and then it compounds the fraud annually. In the last 5 years property values according to the CAD went up by 100%, yet inflation according to the Federal Reserve has only gone up 15%. Meaning 85% of the property rise in value is fraudulent. Just to get a value where we were 5 years ago means a minimum reduction of 40% of the current fraudulently assessed value.
- Violating USPAP, Mass Appraisal Standards, TDLR, TALCB, Texas Property Code, Texas Constitution, The Constitution of the United States of America, IAAO, TAAO, Appraisal Foundation, Appraisal Institute, and a host of both state and federal law which is seen in the Violations Reviewed.pdf which is on the website mockingbirdproperties.com/dcad,
- Violating Texas Penal Code - PENAL § 37.10 (See Violations.PDF),
- Nothing meets the standard of what is required – That is the BIG CON!
- The evidence is irrefutable, insurmountable and there is no defense.
This Pattern and Practice to Defraud across the United States, Canada, and other Countries as far away as New Zealand can be seen, https://www.youtube.com/watch?v=X7E6qX0rKNw (link to video).
The Correlated Map on how the property tax fraud is created across the U.S. as evidenced by independent reports. See interview by Travis Spencer of Real Estate Mindset on YouTube, just linked above.
- https://www.youtube.com/watch?v=lzIAAsl_xHs, Mockingbird’s Denton CAD Report
- https://www.youtube.com/watch?v=HljKOmWnsVg, Interview by Daniela Cambone
- Preamble to Whitewashing
- Whitewashing of Your Tax Dollars
- Why We Need to Repeal All Property Tax – Talking Points
- The Debt Model of Socialism
- 18 Page Court Presentation
- We Live in a World of Fraud and Fraudsters
- Socialism is a Noun – Last Rat Standing
THE MAJORITY OF SCHOOL DISTRICTS THAT RAISE BONDS ARE BANKRUPT, VIA FRAUD, TAKING THE CITIZENS WITH THEM!
IS YOUR PENSION, 401(k), or IRA INVESTED IN THE FRAUD?
One should be asking for what purpose have these frauds been created and allowed to exist without adjudication? Who got the benefit in terms of fees, salaries, and interest paid? Could the ultimate answer be to consolidate and control capital flows, and would that not be the definition of socialism?
Quick discussion concerning AI, preparedness, societal manipulation, and independent thought... from cell phones, to education, to healthy eating, to cost of living, to school district bond debt, to property taxes.
Often after writing an article I realize there is more detail and background information that would help to complete it. That is what is included here... a preamble of sorts.
A list of frauds and some links to evidence of fraud is presented. The Hidden Propaganda socialist Model is used by both political parties. The common enemy is inflation & those responsible. None of this would exist if the government and courts were doing their job. So...Why Gold? Why Silver? Why Now?
Report by Mackenzie Eason can only be viewed as a whitewash, because the report is inconsistent & wrong: could not have looked at the requirements or math of USPAP, did not examine the software override allowing manipulation of values; and would take 3 cross examination questions to completely prove the whitewashing.
Being highly levered is an assurance of mass destruction. At the breaking point, will spin out of control, as everybody heads for the exits simultaneously. And it's not just Private Equity structures, but School Districts, that are over-leveraged, requiring bailouts/additional taxes to pay for their financial crimes.
When economists say the economy is good… which economy, who’s economy, Wall St economy or Main St economy? There’s recession, if not depression, on Main St. Mom & Pop are over-burdened by property tax assessments, inflated to cover school district bond debt & compound cumulative interest, that can never be paid off.
This Open Letter is a bit of a premonition given my experience with politicians, economists, and fraudulent reports. I could be wrong, but let’s see how this plays out in the next few days.
Clock's ticking. Every moment, that passes without property tax repealed & replaced w/ uniform states sales tax, more households are in jeopardy of bankruptcy or losing home. Are you in that position now; are you struggling w/ monthly payments; how much more property tax before you're forced to sell... or go bankrupt?
In Texas, the system itself (CADs, IAAO, TAAO, AG, TEA, State Comptroller, others) all violated the laws & framework they are supposed to represent. Violations enabled fraud to start & grow and are now necessary to feed compound-cumulative interest on fraudulent school district bonds. Vexler's suit exposes this & them.
NY Federal Reserve reported US household debt reached $18.8 Trillion in Q4 2025, up 1% ($191 Billion) from previous qtr. We are at the end, where the compound interest on top of the compounded fraudulent debt cannot be paid down or off. The math is the math... socialism ends when you run out of other people's money.
As an offshoot of our main focus of property tax fraud & school district bond fraud, and in addition to Articles I wrote on socialist behavior (links provided), a pattern of Cultural Decay in both corporations & people has emerged which is the fallout of socialism. Consider the common traits of items presented here.
Roughly 42 mil US households are in harm’s way of bankruptcy or of losing the roof over their head due to property tax fraud & school district bond fraud. The unity among thieves, where they protect each other further expanding fraud, must be replaced with unity among lawful citizens. Your involvement is required!
Why invest in Silver? Vexler has written 6 other related articles discussing metals, the Fed, manipulation, and application of law. Links to these articles are included here... along with 36 additional points for consideration.
Government entities choose to turn a blind eye to what is mathematically quantifiable & politically visible and politicians modify laws to placate the public, only exacerbating the growth of the debt... with no person or entity held accountable... The Thread of Inconsequential Actions can be seen across the U.S.
1/30/2026 Supreme Court of TX requested response from opposing counsel representing Denton CAD. We expect opposing counsel will put forth same nonsense to prohibit adjudication of fraud being perpetrated against every real estate owner & every citizen in Denton County. Perhaps SCOTX now sees the Constitutional issue.
Although my focus is on property tax fraud & school district bond fraud, in effort to help protect against theft & erosion of property rights, precious metals, I continue to share my thoughts in videos & writings because they are all connected. And there's important topic concerning investing in mining companies.
A CONTRACT FOR AMERICA... How to Fight
Vexler provides quick thoughts & comments on Central Appraisal Districts, property tax fraud, school district bond fraud, lack of accountability, compound cumulative effect of bond debt, funding priorities, socialism, gold's resurgence, and credibility... Repeal Property Taxes in Favor of Uniform States Sales Taxes.
Article written by Brandon Smith lays out how history is repeating. He states "sometimes the war chooses you and you have to adapt." There are parallels in his discussion with property tax fraud & school district bond debt. Participation in your local community is not an option... it is an obligation, for your future.
Taxpayers who know something is wrong with appraisal practices & property valuations within their appraisal district should push for a Forensic Audit. Here is a guideline for the Scope of Work Letter between Forensic Accountant & Central Appraisal District, listing many violations and fraudulent activity to uncover.
What changed with U.S. National Debt, school district bond fraud, or U.S. National Deficits in last 24 hours leading to the 1/30/26 precious metals crash? How is crash of metals any different than crash of crude oil 11/28/25? It isn’t, except for 1 thing, manipulation... if not, outright fraud & criminal activity.
If you acknowledge this list as “truths” or if you agree and can answer yes to a majority of these qualifying statements and questions, you should be… investing in Metals and getting involved in repealing all real estate tax in favor of the Uniform States Sales Tax.
Following up on article “socialism is a Noun” I kept thinking about psychology of socialism & proof not just in fact that it was a con from inception, but proof of why it self-terminates when it runs out of other people’s money to steal. Let's review a Bisnow article about proposed bond funding in Ft. Worth Texas.
There are many factors to consider with silver, gold, platinum (commodities). The Federal Reserve with no accountability & no oversight has been printing money, not backed by assets, to support the banks & cover the bond debt, i.e. cover compound cumulative fraud upon compound cumulative fraud. So, who owns the bank?!
This article links to others and digs deeper to show why socialism is the antithesis of capitalism & the U.S. Constitution and why socialism should be codified as illegal... Stop theft & fraud, repeal all property tax in favor of the Uniform States Sales Tax. Your involvement as taxpayer & property owner is crucial.
The 2 largest purveyors of fraud in the U.S. are the Federal Reserve & the School Districts which own the CADs and this is the Civil Rights issue of our generation. In my humble opinion, the true solution is to Chain the Doors of the Federal Reserve and repeal all property tax in favor of the Uniform States Sales Tax.
2011 Report from the Office of Inspector General, along with various letters, discussed & analyzed bank failures and provided recommended course of actions.. of which none were followed... and here we are today... let's review it all & the Federal Reserve.
State(s) Property Tax Codes are criminally violated, not just 1 or 2 sections of code, on an epic level, including failure to comply with Uniform Standards of Professional Appraisal Practice which is required in the code of law. Property Taxes must be repealed in favor of the Uniform State(s) Sales Tax to save us all.
The only way to insist, and get, permanent change starts with knowledge of the issues. Goal is to inform ALL, including politicians, and obtain advocacy from all levels of government. Share this article, all the links to other articles & links to videos. Together we will make a permanent difference.
Every Citizen should be greatly bothered by any political party, official, or judge refusing to adhere to Constitutional law, as in the end, all citizens regardless of party affiliation end up paying for the fraud created. Socialism, a means to perpetrate/perpetuate fraud, should be codified illegal. Protect yourself.
There's a direct correlation to property tax fraud, silver scam, & printing of money via U.S. Treasury & Federal Reserve. The nexus is the creation of false value being fraudulent property valuation from which to steal tax revenue, fraudulent paper chasing paper from which there is no physical to back up the paper...
Auditing serves as a critical function, providing credibility to financial information & enhancing accountability of governmental entities. If your school district & appraisal district are participating in a criminal conspiracy to defraud, you have a civic duty to expose them because it is your money they are stealing.
A Sampling of Recent Messages Attached to Petition Signatures
Recapping recent articles, videos, & events related to school & municipal bond debts, property taxes, and the financial stability of property owners and tax paying citizens… along with a reminder that YOU CAN MAKE A DIFFERENCE.
Conroe Texas' example of the pattern & practice of Institutionalized Systemic Moral Hazard that's playing out across the US: Public Private Partnerships, School Bond Fraud, Economic Development Commissions. The common nexus is fraudulent overvaluation & over taxation of property, annually increasing to cover up fraud.
Prepared to go bankrupt to support your school district that is failing in education & equity stripping your home & future via the outstanding fraudulent school bond debt? Let's repeal all property tax in favor of Uniform States Sales Tax, end the socialist nightmare, & feed those strangled by the socialists.
Please forgive bluntness of this letter. The Financial Stability Oversight Council Report December 2025 has a conclusionary fatal flaw especially regarding pgs 29 – 38 which has ramifications in other areas of Report: fraudulent property tax, school district accounting & bond fraud and related State & Federal crimes.
What's the connection between Bitcoin, Trading, Federal Reserve, the Texas investigation of over-taxation, socialism, the repeal of property tax, & Precious Metals... a Crisis of Confidence... loss of faith in ability to achieve goals or trust institutions, leading to feelings of doubt & uncertainty about the future.
Attorney General Ken Paxton Launches Statewide Investigation of Nearly 1,000 Texas Cities to Ensure Municipal Transparency and Stop Illegal Tax Increases. If you believe a municipality is in violation of Section 103.001 or 103.003 of the Local Government Code you may file a complaint.
The Press & Federal Reserve have stated that we are not in a recession. The evidence is the opposite. Any one of the 50 issues presented here is enough to cause a recession or major credit crisis... Existing laws are not enforced... Measures need to be implemented... Stop Institutionalized Systemic Moral Hazard.
Basics of economics are not being taught. Health care costs have exploded. Individual, Local, State, & National debt is at all-time highs. Property taxes are stealing equity. Risk of bankruptcy or loss of home is increasing. Restore Mom & Pop’s balance sheet. Repeal property tax, in favor of Uniform States Sales Tax.
Inflation, loss of purchasing power, debt, and fraud… The real national security risk is the 37.8% (42,000,000) households that are in harms way of bankruptcy or losing the roof over their head.
To expand on yesterday’s Trials & Tribulations of Advocacy for Permanent Change – Repeal Property Tax in favor of Uniform States Sales Tax, this Part II will tie several elements together that we all experience & prove up why we must individually & collectively advocate for permanent change.
What does it take to effect change for the betterment of society? Are you willing to learn to help your family and society? Does helping society have to cost you money? Can my family and I benefit by being involved? What can I do to help? What can I expect for my efforts?
Your equity is being stripped while you sleep. CADs, School Districts, State Comptroller, Attorney General, Governor, Legislators all collude in promoting propaganda with taxpayer funds to make you to believe “it is for the children” & that there's nothing you can do about it, all while they commit crimes against you.
To repeat...Not only is the equity in your home being stripped while you sleep, so are your constitutional rights! This should concern every property owner & every citizen, because you're paying for it regardless of what State you live in. As goes California & New York, so goes Texas! As goes Texas, so goes the USA!
What makes confidence crash? Decreasing confidence is the warning sign. When markets crash, opportunities rise! Stock market is its own ecosystem/economy; it can go up, down, sideways. Just like people’s confidence, being irrational exuberance, depression, & it will be ok. Question is over what time frame?
If you really want to rescue the credibility of U.S. Dollar, including the governments at both State & Federal levels, then a coherent & consistent plan that the public understands & participates in, must be in place. It's said “planning eases instability, consistency defeats confusion and clarity squashes disorder."
The Governor Abbott's six element plan as released on November 9th 2025 is the continuation of the exact same pattern & practice of kicking the can down the road to the next person in charge. Let's quickly pull the plan apart, and then lay out what his "Contract with Texas" should be.