Announcement

Collapse
No announcement yet.

Pentagon Looses Track of $6.5 Trillion Embezzled "Unaccounted Funds"

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Pentagon Looses Track of $6.5 Trillion Embezzled "Unaccounted Funds"

    Documentation of US Dept of Defense Admitting 'Losing' $6.5 Trillion ($65,000 Per Average US Family), with 18 Year History of 'Losing' Trillions. Your .01% illegal Rogue State Government at 'Work' Until 'We the People' Demand Arrests For Obvious Crimes in War, Looting, Lying.
    Catherine Austin Fitts just published documentation of Department of Defense (DOD) official audit reports from 1998 that acknowledge "losing track" of $6.5 trillion, along with Department of Housing and Urban Development (HUD) admission of "losing" over $100 billion. This is euphemistically termed "unaccounted," and literally means that DOD agrees they received these funds, agrees the funds are gone, and then claims to not have records of where the money went.

    This is the work of Dr. Mark Skidmore and graduate students; Dr. Skidmore is the Director of the North Central Regional Center for Rural Development at Michigan State University and Professor and Morris Chair in State and Local Gov't Finance and Policy. Catherine was managing director and member of the board of directors of the Wall Street investment bank Dillon, Read & Co. Inc., Assistant Secretary of Housing and Federal Housing Commissioner for HUD in the first Bush Administration, and president of Hamilton Securities Group, Inc. She has designed and closed over $25 billion of transactions and investments to-date, and has led investment strategy for $300 billion of financial assets and liabilities.

    I wrote last year upon publication of DOD's report. Of course, such "official" looting never happens with lawful accounting because records always show where the money goes. This would be like your bank agreeing they received a $65,000 deposit from you, agreeing the money was gone, and not refunding your account while claiming no further information of this "unaccountable," "lost," and "missing" money.

    The most common historical explanation of governments "losing" money is, of course, embezzlement to enrich an oligarchy.

    $6.5 trillion means how much now?
    .
    ~$65,000 per US average household, based upon ~$50,000 annual income. This means if your household's annual income is ~$100,000, your family was looted ~$130,000.

    Embezzling a billion dollars from a US military project 6,500 times.

    Embezzling a billion dollars of our tax money every day for 18 years (that's $10 from every US household everyday).

    ... More ... (July 21, 2017)

  • #2
    Its gonna be interesting to see what the US does aboot their almost $20 trillion debt problemo over the next decade or so:

    http://www.usdebtclock.org/

    Comment


    • #3
      Originally posted by Superbencher View Post
      Its gonna be interesting to see what the US does about their almost $20 trillion debt problem over the next decade or so: http://www.usdebtclock.org/
      VERY LITTLE, apparently... They'll just keep passing legislation that increases the debt limit until the interest on the debt will exceed the US Treasury's ability to pay it.

      Comment


      • #4
        I am curious, is this a follow up from last years 6.5 Trillion lost... or a new 6.5 Trillion?

        Either way, this is the sort of news people should be upset about... but you will notice no political team thinker will make a meaningful peep because their "side" doesn't actually care.

        Superbencher, that 20 Trillion Debt will probably be doubled in less than ten years- just hope our Petrodollar scheme doesn't bust and the Fed opts to keep out repayment rates really, really low; cause we are toast otherwise.

        Comment


        • #5
          Originally posted by PSA View Post
          I am curious, is this a follow up from last years 6.5 Trillion lost... or a new 6.5 Trillion?

          Either way, this is the sort of news people should be upset about... but you will notice no political team thinker will make a meaningful peep because their "side" doesn't actually care.

          Superbencher, that 20 Trillion Debt will probably be doubled in less than ten years- just hope our Petrodollar scheme doesn't bust and the Fed opts to keep out repayment rates really, really low; cause we are toast otherwise
          Nah, I dont think you Yanks are toast just yet.

          Maybe Trump will do something aboot the debt, or someone else will come along and fix it.
          Sooner or later you're gonna have to answer to the piper though, this debt rate acceleration is currently unsustainable

          Comment


          • #6
            Originally posted by PSA View Post
            I am curious, is this a follow up from last years 6.5 Trillion lost... or a new 6.5 Trillion?
            Article is dated: July 21, 2017 ... Soooooo, the boogey man is back? ... Interesting that the two amounts are so similar, for sure.

            Originally posted by PSA View Post
            Either way, this is the sort of news people should be upset about... but you will notice no political team thinker will make a meaningful peep because their "side" doesn't actually care.
            It really is about a budget that has grown so enormous, it's unmanageable, a fact embezzlers could easily exploit, and may be so doing.

            At play, of course, is a government bureaucracy full of incompetent social-engineering-hires and affirmative-action desk-jockeys, coupled with embezzlement-minded top-level-bureaucrats eager to exploit an opportunity accorded by an accounting system out-of-control.

            Comment


            • #7
              But there's not enough money without raising taxes!

              Comment


              • #8
                You're saying they lost or embezzled 6.5 trillion out of a budget of 600 billion. If you can't see a teensy tiny problem with that claim you should probably be working for the pentagon accounts department.

                Comment


                • #9
                  Originally posted by AnalHamster View Post
                  You're saying they lost or embezzled 6.5 trillion out of a budget of 600 billion. If you can't see a teensy tiny problem with that claim you should probably be working for the pentagon accounts department.
                  Pentagon contracting accounts are funded annually and are ongoing, e.g. US Navy shipbuilding contracts, etc... So a number that large would have to be from multiple contracts over multiple years, which tells ME it's likely mostly accounting anomalies. But it's fair to say too that accounting practices that loose leaves the door wide open for fraud and embezzlement, likely more rampant than the Pentagon cares to admit, and certainly a major concern for those tasked with oversight.

                  Comment


                  • #10
                    Originally posted by Heim View Post

                    Pentagon contracting accounts are funded annually and are ongoing, e.g. US Navy shipbuilding contracts, etc... So a number that large would have to be from multiple contracts over multiple years, which tells ME it's likely mostly accounting anomalies. But it's fair to say too that accounting practices that loose leaves the door wide open for fraud and embezzlement, likely more rampant than the Pentagon cares to admit, and certainly a major concern for those tasked with oversight.
                    Your crappy conspiracy nut sources don't give you a clear picture of things, the 6.5 trillion is accounting adjustments from the year 2015. Since that massively exceeds the actual money they received that year it is of course down to amazingly crappy accounting practices. Your initial claims are complete nonsense.

                    There may or may not be fraud going on, on a far smaller scale than you claimed, what the crappy accounting means is that it would be much harder to detect if it were.

                    Comment


                    • #11
                      "Loses".

                      "Loose" indicates not tight, or flexible.

                      Comment


                      • #12
                        Originally posted by stumpin View Post
                        "Loses".

                        "Loose" indicates not tight, or flexible.
                        "The anal apertures of U.S. taxpayers are rather loose due to the continued abuse from apparent loses attributed to military expenditures".




                        Just figured I'd help out by putting the difference in a sentence.

                        Comment


                        • #13
                          Jesus why don't you read the fucking words you copypasta onto the site?

                          "Catherine Austin Fitts just published documentation of Department of Defense (DOD) official audit reports -----from 1998----- that acknowledge "losing track" of $6.5 trillion,"

                          This fresh 2017 article is about poor accounting previous to 20 FUCKING YEARS AGO!!!!0ne111!!!

                          Comment


                          • #14
                            It was the amount from 2015 in any case, the source is perhaps not entirely reliable.

                            Comment


                            • #15
                              Originally posted by posthuman View Post
                              Jesus why don't you read the fucking words you copypasta onto the site?

                              "Catherine Austin Fitts just published documentation of Department of Defense (DOD) official audit reports -----from 1998----- that acknowledge "losing track" of $6.5 trillion,"

                              This fresh 2017 article is about poor accounting previous to 20 FUCKING YEARS AGO!!!!0ne111!!!
                              Is it Obama's fault?

                              Comment

                              Working...
                              X