2009-2023 The Fiscal Times. The Pentagon's accounting systems are so old and out of date that defense officials don't even put up a fight when the Treasury Department says they've made errors, explained Kristen Kociolek, who led the GAO's review of the issue. In my original model of this hidden system, articulated in various books and at the first Secret Space Program conference in San Mateo, California in 2014, rehypothecation formed one of the techniques by which I speculated vast amounts of fraudulent liquidity could be created and kept from the public by a kind of double-bookkeeping. This article originally appeared on Zero Hedge. Enter your email address to subscribe to this blog and receive notifications of new posts by email. Study Links The Birth Control Pill To Depression, Neuroscientist Shows What Fasting Does to Your Brain & Why Big Pharma Wont Study It, London Is Not White! Celebrating Indigenous Brits Being Ethnically Cleansed from Their Capital City, Matthew Heimbach: Zionist to Nazi to Commie, Scott Adams Rejects ADLs Offer for Re-Education, Whites Should Put Coats on Ground for Blacks to Walk Over: Yale Student Government, Jews are Anti-Human and Anti-Nature Bobby Fischer, Half-Naked Morbidly Obese Black Woman Twerks in Front of White Family at Resturaunt, Bush-Era US Ambassador Accuses Israel Of Creeping Annexation Of West Bank, Unmasking Prejudice? 22% unknown outcomes! However, $35 trillion is close to 50-times the size of the Pentagons 2019 budget, so that means every dollar the Defense Department received from Congress was moved up to 50 times before it was actually spent, Clark said. While auditors found no evidence of fraud in the review of finances that Congress required, they flagged a laundry list of problems, including accounting adjustments. Trump Just Got a Chance to Dodge His Health Care Record in 2020. All constitutional changes required the unanimous approval of the 13 member States. The excuse that these tapes might lead to the missing money was all an elaborate scam to get these tapes to protect the bankers. Their priority is making the situation look manageable, not solving the underlying problem.. Published Jan 23, 2020 9:59 PM EST. Biden may face some challenges, too. Change), You are commenting using your Twitter account. Tesla first demonstrated wireless transmissions during a lecture in 1891. What people do not realize is thatBECAUSEof 911 hitting the very room where all the documents were concerning the Pentagon budget, the audit never took place. Honest, uncensored, and hard-hitting articles. Pentagon loses 50 cents of every dollar allocated by congress. Each budget category is so broadly defined that the Pentagon could use money slated for research and development to fund manpower costs if it wanted to. Spokeswoman for the Pentagons inspector general,Dwrena Allen, downplayed what to most Americans will sound like the makings of an explosive scandal. There are other issues with the model, as well: The latest analyses follow the Congressional Budget Offices standard in applying revenues raised by higher taxes toward deficit reduction even in cases where a candidate has laid out other uses for the money. More questions ahead: Still, Sanders and Elizabeth Warren have faced repeated questions about how they would pay for policy proposals such as Medicare for All and the new analyses may revive those questions, for Sanders in particular. According to the DoD, theresnothing to see here. The Pentagon moved a total of $35 trillion among its various budget accounts in 2019, Tony Capaccio of Bloomberg first reported. The combined errors, shorthand, and sloppy record-keeping by DoD accountants do addup toa number nearly 1.5 times the size of the U.S. economy, said Speier, a California Democrat. Congress Has Welcome News for Americans Saving for Retirement, Trump's Selective Urgency at the Supreme Court. Trillions explained away by a little benign neglect of simple documentation? The Biden plan: Biden calls for higher taxes on the wealthy and corporations, along with other reforms. How about the 9400 unknown outcomes! There were 546,433 adjustments in fiscal 2017 and 562,568 in 2018, according to figures provided by Representative Jackie Speier, who asked the Government Accountability Office to investigate, the report added. The latest estimate is up from $30.7 trillion in 2018 and $29 trillion in 2017, the first year adjustments were tracked in a concerted way, according to Pentagon figures and a lawmaker whos pursued the accounting morass. Their priority is making the situation look manageable, not solving the underlying problem.. Mark R. Warner and Tim Kaine (both D-VA) today voted for the passage of the $1.5 trillion government spending bill. Cold War is good for business: US contractors rejoice at the new Red Scare. Of course, in the real world outside the halls of government and of largely unchecked power, a mere single trillion would be enough send people to jail. Because we don't. MAKE CHECKS OUT TO: The Penn Wharton Budget Models earlier analysis of Sen. Elizabeth Warrens wealth tax found that it would raise as much as $2.7 trillion in revenue over 10 years well shy of the $3.8 trillion Warrens camp estimated. The MarshallReport, Why Are Colleges Still Mandating COVID Vaccines for Students? There has been a big course shift among macroeconomists in recent years over the risks and rewards of fiscal stimulus, he writes. While auditors found no evidence of fraud in the review of finances that Congress required, they flagged a laundry list of problems, including accounting adjustments. So what are these accounting adjustments? The Pentagon made $35 trillion in accounting adjustments last year alone -- a total thats larger than the entire U.S. economy and underscores the Defense Departments continuing difficulty in balancing its books. He said he was told by the head of the firm to come to him with guaranteed trades not recommendations. Follow us on Twitter: @yuvalrosenberg, @mdrainey and @TheFiscalTimes. So what are these accounting adjustments? But not so fast. Whats most important to an auditor is whether the adjustments are properly supported because properly supported adjustments ensure financial statement values are accurate. Your generosity is very much appreciated and needed. The figure dwarfs the $738 billion of defense-related funding in the latest U.S. budget, a spending plan that includes the most expensive weapons systems in the world including the F-35 jet as well as new aircraft carriers, destroyers and submarines. The Pentagon made $35 trillion in accounting adjustments last year alone a total thats larger than the entire U.S. economy and underscores the Defense TexanCiviliansCriminallyAssaultedbyState,FederalandCorporateagencies, https://www.bloomberg.com/news/articles/2020-01-22/pentagon-racks-up-35-trillion-in-accounting-changes-in-one-year?utm_content=business&utm_source=facebook&utm_campaign=socialflow-organic&utm_medium=social&cmpid=socialflow-facebook-business. The problem was the fire would have to have been 800 degrees celsius to do that and the building would not have collapsed straight down. Bloomberg attempted to get a handle on it further in explaining, The military services make adjustments, some automatic and some manual, on a monthly and quarterly basis, and those actions are consolidated by the Pentagons primary finance and accounting service and submitted to the Treasury.. Countless manipulations about how they pulled of ventures to ensure guaranteed trades. Rep. Jackie Speier (D-CA), who asked the Government Accountability Office to look into the issue, said the combined errors, shorthand, and sloppy record-keeping by DoD accountants do add up to a number nearly 1.5 times the size of the U.S. economy, and charged that the Pentagon employs accounting adjustments like a contractor paints over mold. Although it gets scant public attention compared with airstrikes, troop deployments, sexual assault statistics or major weapons programs, the reliability of the Pentagons financial statement is an indication of how effectively the military manages its resources considering that it receives over half of discretionary domestic spending. He has covered the military for 15 years. 2009-2023 The Fiscal Times. According to Bloombergs Anthony Carpaccio, the Department of Defense made $35 trillion in accounting adjustments in 2019, easily surpassing the $30.7 trillion in such adjustments recorded in 2018. Tony Capaccio, Bloomberg News. Another issue is whether the Defense Department is spending its money the way Congress envisioned it would, he said. SGT Report is your daily source for truth in a time of universal deceit. The Pentagons $35 Trillion Accounting Black Hole. CTRL + SPACE for auto-complete. Speaking to Lawrence Sinclair of Sinclair News, Breitbart stated, Wait til they see what , Between March 1-17of2010,IRS agents identified the first 10 Tea Party case applications though not all had tea party in their name, according to a draft of The Treasury Inspector General for Tax Administration (TIGTA) appendix. Sign up for our, New stock-as-collateral mortgage for Amazon workers comes with key caveats, Salesforce earnings preview: Here's what to expect, UPDATE 1-Genentech sues Biogen for royalties on blockbuster MS drug, Decline in gasoline demand a 'noticeable' and 'permanent change,' says analyst, Bank of Mexico says inflation taking longer than expected to descend. And for further perspective on the DoDs defense of the beggars belief figure: It means money that DoD moved from one part of the budget to another, Clark explained to Task & Purpose. Ken Hammond, U.S. Air Force via Wikimedia Commons. So when they move money from one program to another in order to pay for an unexpected expense it sets off a domino effect of budget corrections. This revolution is a lot more than just a change in attitude. Todd Harrison of the Center for Strategic and International Studies says they represent a lot of double, triple, and quadruple counting of the same money as it got moved between accounts within the Pentagon. Strange people call you at strange hours to give you strange information. In addition, the gap between the campaigns estimates and Penn Whartons nonpartisan analysis demonstrates the challenges candidates face in generating new tax revenue to fund ambitious proposals, writes Bloomberg News reporter Laura Davison: Whats driving the trillion-dollar annual deficits the U.S. is expected to record for years to come, tax cuts or federal spending? In laymans terms, this means that the DoD made adjustments to accounting records without having documentation to support the need or amount for the adjustment, she said. Embed Share. (LogOut/ That does not mean that the Defense Department Tony Capaccio of Bloomberg first reported. Adjustments underscore weakness in Defense Department systems. Change), You are commenting using your Facebook account. Todd Harrison of the Center for Strategic and International Studies says they represent a lot of double, triple, and quadruple counting of the same money as it got moved between accounts within the Pentagon. Of course, in the real world outside the halls of government and of largely unchecked power, a mere single trillion would be enough send people to jail. That is where they took our computer system and when I asked for my legal discovery, the SEC responded that everything was destroyed in 911. 'It would be like moving money from checking, to savings, to your 401K, to your credit card, and then back. The GAO estimated based on a sample that at least 96% of 181,947 automatic adjustments made in the fourth quarter of fiscal 2018 didnt have adequate supporting documentation., In laymans terms, this means that the DoD made adjustments to accounting records without having documentation to support the need or amount for the adjustment, said Dwrena Allen, spokeswoman for the Pentagons inspector general. The author of the ordinance, local attorney Fred Bentley Sr., attributes at least some of the decrease in crime to the bill , Kinseys two books Sexual Behavior in the Human Male, published in 1948, and Sexual Behavior in the Human Female, which followed in 1952 started what we now call the sexual revolution. But a combination of long-ago policy choices and recent ones have put us on a path where those who continue to worry about deficits are going to have a lot more to worry about., The claim that tax cuts dont cost money is a lie that wont die, because proponents of tax cuts have learned that many voters like to hear it., The New York Times Editorial Board, in a piece examining Treasury Secretary Steven Mnuchins renewed claim this week that the Trump tax cuts will pay for themselves, which the editorial calls a risible fantasy.. The Pentagon made $35 trillion in accounting adjustments last year alone a total thats larger than the entire U.S. economy and underscores the Defense Web584 votes, 77 comments. And it may contain another hint of that hidden system of finance and its practices as well. The enormity of the accounting adjustment defies any rational explanation. Missing Money 2021 Update The Missing Money (solari.com) Carpaccio notes that the number dwarfs the $738 billion of defense-related funding in the latest U.S. budget, a spending plan that includes the most expensive weapons systems in the world including the F-35 jet as well as new aircraft carriers, destroyers and submarines. Its also larger than the entire U.S. economy and underscores the Defense Departments continuing difficulty in balancing its books.. But are we really to believe that mere combined errors, shorthand, and sloppy record-keeping by DoD accountantsas another analyst was quoted as sayingcan explain a$35 Trillion accounting black hole? 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They wanted guaranteed trades. Its widely acknowledged that aluminum can enter the brain and disrupt its functions. Bloomberg attempted to get a handle on it further in explaining, The military services make adjustments, some automatic and some manual, on a monthly and quarterly basis, and those actions are consolidated by the Pentagons primary finance and accounting service and submitted to the Treasury.. They were not traders willing to risk anything on real analysis. Congress doesn't allow them to have money for emergencies. It sounds more appropriately news out ofThe OnionorBabylon Beegiven this is *Trillions* and not just billionsthough that itself would have been remarkable enough. Your phone starts acting funny. As an example of how the dollar figures multiply, Sherwood said recognizing $800 million due a contractor in previously unrecorded payments requires multiple accounting adjustments that net to $0 but could total over $5 billion in movement between accounts. Naturally, the first and only question we should start with is:how is this even possible? And as we noted then, critics of the Penn Wharton model question some of its assumptions about how higher taxes affect the economy. Consider too that the current actual US budge for defense-related funding is$738 billion. Within that$30 trillionis a lot of double, triple, and quadruple counting of the same money as it got moved between accounts, Todd Harrison, a Pentagon budget expert with the Center for Strategic and International Studies, told Bloomberg in a recent report. This was an office building, not a chemical facility. US (not America any longer) put 80% of its budget for the first 90 years to killing the indigenous as George Washington wiped out the Iroquis and the Pilgrims were no better wiping out the Pequot as the Jews, Masons and Christians burnt theirRead more , Look at the design of DC and the Pentagon which is an upside down pentagram as both were designed by Freemasons as are all state houses and a huge number of dams, buildings, cities, and other structures with George Washington in full pose as Baphomet (the inverse of the Ram of Banebdjedet at Mendes) as everything we know, read or have been taught is the inverse (Well know our disinformation program is complete when everything the American public believes is false William Casey at Reagan White House meeting with Barbara Honegger in attendance and it was herRead more . In , A court hearing on whether to unseal sensitive documents involving the alleged sex trafficking of underage girls by Palm Beach multimillionaire Jeffrey Epstein and the possible involvement of his influential friends will play out in a New York City courtroom next week. The Pentagon made$35 trillion in accounting adjustments last year alone a total thats larger than the entire U.S. economy and underscores the Defense Departments What if the practice of rehypothecation is not confined to the world of banking, but has in fact become amodus operandiof government agencies themselves, in this case, of the Department of Defense? Change), You are commenting using your Twitter account. How they discovered that they even had them I suspect was based upon illegal phone taps. SGT Report is your daily source for truth in a time of universal deceit. A lot may be an understatement: According to government data, there were 562,568 adjustments made in the Pentagons books in 2018. 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