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“A global financial cabal engineered a fraudulent housing and debt bubble, illegally shifted vast amounts of capital out of the US; and used ‘privatization’ as a form of piracy – a pretext to move government assets to private investors at below-market prices and then shift private liabilities back to government at no cost to the private liability holder Clearly, there was a global financial coup d’etat underway.” ~Catherine Austin Fitts
By Catherine Austin Fitts
We have had several requests to provide links for summaries of what I refer to as the “missing money.”
This was a commentary I wrote during the bailouts to help put what was happening in a global context. We also published several compilations of the bailouts, including Bailout Mo’ Money
2013 Annual Wrap Up: Chronology of the Black Budget and Financial Coup d’État
I put together a timeline in the 2013 Annual Wrap Up published in January 2014 to show an overall timeline and numbers to help our subscribers understand the numbers I used in various estimates.
I started writing about the missing money in 2000 when my attorney discovered reports of enormous amounts of undocumentable adjustments at the Department of Housing and Urban Development. This was a webpage the Solari team used through 2004 to collect stories about money going missing from DOD, HUD and NASA.
This was a website and petition we did in 2003-4 to try to raise awareness.
More recently, I have mentioned money missing from DOD during Fiscal 2015, see Crazy Man Versus Criminal: Cut and Run, Monica Lweinsky II & Real Trouble Ahead
These refer to the DOD IG report on the FY2015 DOD Financials which is summarized here.
In response to your requests, I will dig in and take a closer look at the 2015 DOD report and post comments here.
Related Reading
A few extra links to more than $11 trillion missing money, FED largess, government propaganda is O.K. —
““Where is the money going? Nobody knows,”” -REUTERS, 8/19/16, ‘U.S. Army fudged its accounts by trillions of dollars, auditor finds’ http://www.reuters.com/article/us-usa-audit-army-idUSKCN10U1IG
“The Office of the Assistant Secretary of the Army (Financial Management & Comptroller) (OASA[FM&C]) and the Defense Finance and Accounting Service Indianapolis (DFAS Indianapolis) did not adequately support $2.8 trillion in third quarter journal voucher (JV) adjustments and $6.5 trillion in yearend JV adjustments made to AGF data during FY 2015 financial statement compilation. … In addition, DFAS Indianapolis did not document or support why the Defense Departmental Reporting System-Budgetary (DDRS-B), a budgetary reporting system, removed at least 16,513 of 1.3 million records during third quarter FY 2015.” http://www.dodig.mil/pubs/documents/DODIG-2016-113.pdf
“The DoD continues to lack systems capable of compiling financial reports that comply with Federal accounting standards and laws, nor will those systems be in place for several more years. … a record $1.7 trillion of unsupported adjustments were made in preparing the statements.” http://www.dodig.mil/audit/reports/fy99/99-138.pdf
“… $2.3 trillion were unsupported by reliable explanatory information and audit trails or were made to invalid general ledger accounts.” http://www.dodig.mil/audit/reports/fy00/00-167.pdf
“$1.1 trillion were unsupported or improper.” http://www.dtic.mil/dtic/tr/fulltext/u2/a389885.pdf
‘Rumsfeld says $2.3 TRILLION Missing from Pentagon’, CBSNews
https://www.youtube.com/watch?v=xU4GdHLUHwU
“Undocumented accounting adjustments, totaling $3.1 billion (net value) at year-end FY 2003 and $(323.8) million (net value) at first quarter FY 2004, occurred during the manual compilation processes.” http://www.dodig.mil/audit/reports/fy04/04-107.pdf
“DOD Systems … As noted above, the DOD financial management systems did not substantially comply with Federal financial management system requirements, applicable Federal accounting standards, or the USSGL at the transaction level.” http://comptroller.defense.gov/Portals/45/documents/cfs/fy2009/14_Office_of_the_Inspector_General/Fiscal_Year_2009_Department_of_Defense_Office_of_the_Inspector_General_Financial_Statements_and_Notes.pdf
“In the Cleveland DFAS office where Woodford worked, for example, “unsupported adjustments” to “make balances agree” totaled $1.03 billion in 2010 alone, according to a December 2011 GAO report. In its annual report of department-wide finances for 2012, the Pentagon reported $9.22 billion in “reconciling amounts” to make its own numbers match the Treasury’s, up from $7.41 billion a year earlier.” http://www.reuters.com/article/us-usa-pentagon-waste-specialreport-idUSBRE9AH0LQ20131118
“– Outside audits by a certified public accounting firm of the Defense Finance and Accounting Service’s books turned out to be shoddy, according to the Pentagon’s own accountants, although that same CPA firm had endorsed the agency’s previous fiscal records for years. […]
The Defense Department’s Office of the Inspector General, which was brought in to watchdog the audit, not only helped squelch the critical work but also allowed the outside firm to be paid despite the serious questions about the quality of its work.“ http://www.mcclatchydc.com/news/nation-world/national/national-security/article24759385.html
“Government auditors say some $61 billion was spent on reconstruction projects in Iraq from 2003 to 2012. At least 10 percent of the money cannot be accounted for. Some 15 percent of the money spent, or roughly $8 billion, was wasted.” http://www.cnbc.com/2014/06/19/how-the-us-lost-billions-over-nine-years-in-iraq.html
“DOD, State, and USAID should each establish an Office for Anticorruption to provide support, including advice on anticorruption methods, programming, and best practices, for personnel in contingency operations.” –September 2016, Special Inspector General for Afghanistan Reconstruction Corruption in Conflict Lessons from the U.S. Experience in Afghanistan https://www.sigar.mil/interactive-reports/corruption-in-conflict/recommendations.html
“Taxpayers might have benefited from honest audits of the Defense Finance and Accounting Service.” -McClatchyDC, 11/22/13, ‘Pentagon’s bosses thwart accurate audit of DOD’s main accounting office’ http://www.mcclatchydc.com/news/nation-world/national/national-security/article24759385.html
FED largess:
$16.11 trillion of financial assistance -July 2011 GAO Report to Congressional Addresses FEDERAL RESERVE SYSTEM, table 8, page 131 http://www.gao.gov/new.items/d11696.pdf
“Most people think that the big bank bailout was the $700 billion that the treasury department used to save the banks during the financial crash in September of 2008. But this is a long way from the truth because the bailout is still ongoing. The Special Inspector General for TARP summary of the bailout says that the total commitment of government is $16.8 trillion dollars with the $4.6 trillion already paid out. Yes, it was trillions not billions and the banks are now larger and still too big to fail.” http://www.forbes.com/sites/mikecollins/2015/07/14/the-big-bank-bailout/#7665887c3723
“The audit of the Fed’s emergency lending programs was scarcely reported by mainstream media – albeit the results are undoubtedly newsworthy. It is the first audit of the Fed in United States history since its beginnings in 1913. The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.” http://www.forbes.com/sites/traceygreenstein/2011/09/20/the-feds-16-trillion-bailouts-under-reported/#3c0656016877
“Do I play ball or do I do my job?” -Neil Barofsky, former Special Inspector General for TARP, $700 billion Troubled Assets Relief Program https://www.youtube.com/watch?v=PqIoHbjvVsA
Gov. Propaganda:
“The GAO recently ruled that the Pentagon pundit program did not break the law against taxpayer-funded domestic propaganda.” http://www.prwatch.org/news/2009/07/8472/pentagon-propaganda-gets-pass
‘60% of the US Govt’s Billion Dollar PR Budget Goes to the Pentagon to Sell You War — And It’s Working’, http://thefreethoughtproject.com/pr-budget-penagon-war-propaganda/
What a fabulous collections of links. I would like to post on the main page. Should I name you for the credit or keep you anonymous?
anon please.
Thanks Catherine. This is difficult to digest. Your chart with the 2013 wrap up is particularly helpful. I am also reading The Russian Idea by Solovyov c.1888 and it seems to help. I look forward to your continued tracking of Trump’s activity. His association with Eric Prince gives me pause but clearly we’re looking at a very heavy hand. Hopefully, it will be well used.
One of the biggest problems of building the economy bottom up is covert operations. You have been dependent on the CIA, but they are vested in the old model, don’t want to flip the model? How do you deal with them, how do you provide for a new form of covert operations.