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FASAB Statement 56: Understanding New Government Financial Accounting Loopholes
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…
Missing Gold
“No money shall be drawn from the treasury, but in consequence of appropriations made by law; and a regular statement and account of receipts and expenditures of all public money shall be published from time to time.” ~ Article I, Section 9, Clause 7, U.S. Constitution Gold Anti-Trust Action (GATA) All That Glitters Is Not…
Missing Money Chronology
DATEEVENTCATEGORY19340131Gold Reserve Act creates the Exchange Stabilization Fund (ESF). “The fund began operations as of April 27, 1934, financed by $2 billion of the $2.8 billion paper profit th…
Top Broker-Dealers
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…
The Real Game of Missing Money
Shorts – The Real Game of Missing Money
Missing Money 2020 Update
Missing Money Update1 Mark Skidmore* and Catherine Austin Fitts** May 2020 PDF Copy Available Here. Related Documents: In February of 2019, Mark Skidmore and Catherine Austin Fitts published the report “Should We Care about Secrecy in Financial Reporting?” (Skidmore and Fitts, 2019), which provided a review and assessment of the state of federal government financial…
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