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The Appropriations Clause: A History of the Constitution’s (As of Yet) Underused Clause.

The Appropriations Clause: A History of the Constitution’s (As of Yet) Underused Clause.

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“No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.”  ~ARTICLE I, SECTION 9, CLAUSE 7, UNITED STATES CONSTITUTION Table of Contents I. Introduction    A. Appropriations Clause    B. Permanent…

Legal Series – US Monetary and Fiscal Operations

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“If the provisions of the Constitution can be set aside by an Act of Congress, where is the course of usurpation to end? The present assault upon capital is but the beginning. It will be but the stepping-stone to others, larger and more sweeping, till our political contests will become a war of the poor…

FASAB Statement 56: Understanding New Government Financial Accounting Loopholes
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FASAB Statement 56: Understanding New Government Financial Accounting Loopholes

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  Table of Contents I. IntroductionII. History of the Federal Accounting Standards Advisory Board (FASAB)III. FASAB and Standard 56A. What Does Standard 56 Do?B. Reporting Entities Within the Scope of Standard 56C. Changes to Disclosure Standards Under Standard 56D. Modifications to Avoid Disclosure of Classified InformationE. Reporting on Consolidation EntitiesF. Interpretations Modifying Reporting Standards in…

The Kelly O’Meara Collection

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“Without ever using the word ‘money,’ a practice common among inspectors general (IGs), the deputy IG at the Pentagon read an eight-page summary of DOD fiduciary failures.” ~ Kelly O’Meara, 2001 Kelly Patricia O’Meara was the original reporter to break the Missing Money story! Did you ever see the 9/11 testimony when Congresswoman Cynthia McKinney…

Top Broker-Dealers

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The following table shows the top 15 broker-dealers based on their assets under management in 2018. These are the firms that play an important role in helping U.S. government-issued securities to be distributed from the primary brokers that contract directly with the Federal Reserve Bank all the way down the investment chain to small retail…

Primary Dealers of U.S. Government Securities

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The following table shows the primary dealers of U.S. government securities. According to the Federal Reserve Bank of New York, “Primary dealers are trading counterparties of the New York Fed in its implementation of monetary policy. They are also expected to make markets for the New York Fed on behalf of its official accountholders as…