The Financial Coup & Missing Money: Quotes

[CAF Note: Bravo! One of our subscribers has been digging into the money missing from the US government. This is exactly the kind of citizen research we need to make progress on enforcing the Constitution.  Here are some quotes he assembled for us. Thank You!]

By a Solari Report Subscriber

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’

“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.”

“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.”

“… $2.3 trillion were unsupported by reliable explanatory information and audit trails or were made to invalid general ledger accounts.”

“$1.1 trillion were unsupported or improper.”

‘Rumsfeld says $2.3 TRILLION Missing from Pentagon’, CBSNews

“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.”
“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.”

“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.”

“– 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.“

“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.”

“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

“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’

FED largess:
$16.11 trillion of financial assistance -July 2011 GAO Report to Congressional Addresses FEDERAL RESERVE SYSTEM, table 8, page 131

“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.”

“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.”

“Do I play ball or do I do my job?” -Neil Barofsky, former Special Inspector General for TARP, $700 billion Troubled Assets Relief Program

Gov. Propaganda:
“The GAO recently ruled that the Pentagon pundit program did not break the law against taxpayer-funded domestic propaganda.”

‘60% of the US Govt’s Billion Dollar PR Budget Goes to the Pentagon to Sell You War — And It’s Working’

Related Reading

The Financial Coup d’Etat & Missing Money: Links