HIDDEN WEALTH TRANSFER [4]: THE MISSING TRILLIONS

In the spring of 2017, a research study was initiated to determine the facts regarding the possibility that untold multiple trillions of dollars had gone missing from government accounts.

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THE DAY BEFORE 9/11

You might recall video of an event that took place at the Pentagon on September 10, 2001 when Donald Rumsfeld, the Secretary of Defense in the new Bush Administration, stunned the buttoned-down sensibilities of honest accountants and bookkeepers everywhere with the following matter-of-fact statement:

“According to some estimates we cannot track $2.3 trillion dollars in transactions.” [1]

After a Pentagon audit, this massive amount of Department of Defense spending was unaccounted for. It had somehow gone missing. For perspective, the DOD budget for the year 2001 was $313 billion.[2] The equivalent of roughly seven years of Pentagon budgets had vanished. On that day, Rumsfeld was declaring war on financial waste and possibly fraud as he announced a new plan to “save” the Pentagon. The next day, those plans, whether legitimate or not, were forgotten.

THE 2017 MISSING MONEY REPORT

As the years went by more huge sums appeared to vanish. In the Inspector General Report for the Department of Defense for 2015 the amount was $6.5 trillion.[3] Keep in mind that these two reports from 2001 and 2015, which served as the catalyst for the missing money research study, only involve the DOD and not any other government departments.

It was Catherine Austin Fitts, former assistant secretary of Housing and Urban Development in the first Bush administration, who brought the $6.5 missing trillion to the attention of Dr. Mark Skidmore, a Michigan State University economist, in early 2017. Because the figure was so ridiculously huge he initially thought she was mistaken. Over that summer they continued the project with the assistance of two graduate students to help with a larger study and by September of 2017 had accounted for many more missing funds, officially termed “unsupported adjustments.” The total monetary amount in their report, in researching and compiling documents for only the Department of Defense between the years of 1998-2015, was a whopping $21 trillion. They found an additional $350 billion missing at HUD.

To put these numbers in proper perspective, the entire Gross National Product of the USA in the year 2019 was 21.429 trillion.[4] Where does such money go? How is it possible that the DOD cannot account for a number effectively matching the entire 2019 GDP of the nation? It is impossible that these numbers are mere government accounting errors. How would such errors originate? How would such errors continue to progenerate?

ACCESSING THE 2017 MISSING MONEY REPORT

The report is entitled: Summary Report on “Unsupported Journal Voucher Adjustments” in the Financial Statements of the Office of the Inspector General for the Department of Defense and the Department of Housing and Urban Development.

You can access the history and documentation page of the report at The Solari Report website, published by Catherine Austin Fitts, containing an embedded link of the five page report, here.

ADDITIONAL SOURCE MATERIAL

For further reading and to get better acquainted with the facts and history of this monumental work, I suggest the following:

MSU Scholars Find $21 Trillion in Unauthorized Government Spending; Defense Department to Conduct First-Ever Audit (© Michigan State University, December 11, 2017)

Is Our Government Intentionally Hiding $21 Trillion In Spending? (© Forbes Magazine, July 21, 2018)

EPILOGUE

After Catherine and Mark authored their report and posted it, including the many links and documentation, it was soon discovered that government report and document links had been disabled, which suggested a purposeful response by parties who may wish to keep the information concealed. In Part 3 of this series I informed you that as of October 1, 2018, there was no longer any guarantee that government accounting and budget figures could be verified. One wonders if that FASAB change was also made in response to the missing $21 trillion. These actions are largely unprecedented and all Americans should be rightfully concerned. Why did elected officials sign off on this? Why are next to no elected officials shining any light on this? The President and leaders of the Senate and House have approved of the processes resulting in multiple trillions of dollars gone missing. Where did it go? What are they using it for? Someone must be held accountable.

I hope you have enjoyed this series and that it added to your knowledge on the subject. I would appreciate it if you would share my site, continue your own research, and spread the news.

All of us must continue to be better informed.

© 2020 by R.J. Dawson. All Rights Reserved. [Part 4] 

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[1] https://youtu.be/NkgQ4GpIalI (Quote located at 7:54)

[2] https://www.macrotrends.net/countries/USA/united-states/military-spending-defense-budget

[3] DODIG-2016-113-1.pdf

[4] https://www.statista.com/topics/772/gdp/

HIDDEN WEALTH TRANSFER [1]: YOUR FUTURE IS BEING STOLEN

HIDDEN WEALTH TRANSFER [2]: A BRIEF HISTORY OF GOVERNMENT ACCOUNTING (AND REFORM?)

HIDDEN WEALTH TRANSFER [3]: “FEDERAL FINANCIAL ACCOUNTING STANDARDS 56, CLASSIFIED ACTIVITIES”