The Pentagon Announces $35 Trillion Accounting Black Hole for 2019 Missing Funds. This milestone was the first non-Latin Vulgate text of the scripture to be produced in a millennium and the first ever to come off a printing press. So what are these accounting adjustments? This really amounts to shareholder fraud in that they pay huge fines and those who make huge bonuses from the fraud keep their illegal gains. 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. Inanother report, they tried to simulate how to bring that building down in the manner it did and the only way was to cut the columns on the first 8 floors. It sounds more appropriately news out ofThe OnionorBabylon Beegiven this is *Trillions* and not just billionsthough that itself would have been remarkable enough. The Sanders plan: Sanders has proposed a 1% tax on net worth above $32 million for a married couple, with the tax rising until it reaches 8% on wealth over $10 billion. 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. 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? The enormity of the accounting adjustment defies any rational explanation. Missing Money 2021 Update The Missing Money (solari.com) One of the few in Congress who have taken an interest in the missing $94.7 trillion is The US, a banking subsidiary since Andrew Hamilton and the 1st Bank of the US sold the country to international bankers (65%) and domestic (25%) with 10% for the bank itself, has never defended freedom of any kind but has ALWAYS been on the offensive as the Revolutionary war was a Freemasonic one. And yup, the 9/11 false flag attack was orchestrated and perpetrated by Israelis and US Zionists to provoke a false flag revenge war between the US and Arab world. The Sanders campaign estimates that his wealth tax would raise $4.35 trillion over a decade, but Penn Wharton projects it would fall more than $1 trillion short of that mark, raising between $2.8 trillion and $3.3 trillion over 10 years. 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. Design a site like this with WordPress.com, Hackers Can Turn Everyday Speakers Into Acoustic Cyberweapons, Police Officers/ Gang Stalkers and Mentally Illness, William Barr trying time renew criminal Watch List, Six Paths to the Nonsurgical Future of Brain-Machine Interfaces, Forbes Article: HLS keyword search of social media sites, Elon Musks neurotechnology company, Neuralink. The U.S. Department of Defense announced $35 trillion in accounting changes in 2019 a figure up from $30.7 trillion in 2018 and $29 trillion in 2017. The Pentagon failed its audit amid a now $35 trillion scandal (yes, trillion) Lee Camp. Bloombergs Justin Fox crunched the data and came to a simple conclusion: Its both. Not to mention that the figure easily dwarfs the GDP of the entire combined nations of theEuropean continent. The system fights back with official lies, disinformation, and stonewalling. In the banking world, where the same pile of assets are assigned to several different accounts all at the same time, its not only fraudulent, but there is actually a word for it: re-hypothecation. According to the DoD, theresnothing to see here. She experienced the wrath of the dental industry when she tried to publish her researchtitled The Neurotoxicity of Sodium Fluoride in Rats in the Journal of Neurotoxicology and Teratology that fluoride was neurotoxic. The governments claim was itcollapsed from fire. After all, $35 trillion is aboutone-and-a-half times the size of the entire US economy. An attorney for lawyer Alan Dershowitz wrote a letter to the U.S. District Court of Appeals for the Second Circuit on Tuesday, asking whether the , As major media and big tech continue freaking out over 159 measles cases in the U.S., anti-vaccine campaigners are increasingly being likened to terrorists as their ability to share information and earn money is being cut off. But because the DoD could not provide support, the auditors could not draw conclusions regarding the adjustments., Published on January 22, 2020, 3:00 AM CST. 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. I also hired Barclay Lieb who did his due diligence on me before joining my firm. Page 9. 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, Carpaccio says. How about the 9400 unknown outcomes! 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. Trillions explained away by a little benign neglect of simple documentation? Trump Just Got a Chance to Dodge His Health Care Record in 2020. Pentagon spokesman Christopher Sherwood said that annually, DoD has hundreds of billions of dollars of financial activity, and accounting adjustments are sometimes used to record activity in our financial reporting systems due to a lack of system capabilities or interfaces.. 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. The Department is actively developing strategies to reduce accounting adjustments, Mark Easton wrote in a Dec. 5 response to the GAO. Why it matters: More broadly, the number highlights the persistent lack of internal financial controls at the Pentagon, which makes it extremely difficult to account properly for spending in the largest government budget. While it shouldnt come as a surprise for an organization that has famously failed to ever pass an audit, the Pentagon was nevertheless able to shock some observers this week with a new batch of financial numbers. 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. Worse still, it seems to have endorsed a continual problem of missing money from the Pentagon. A lot may be an understatement: According to government data, there were 562,568 adjustments made in the Pentagons books in 2018. Your email address will not be published. The Most RevolutionaryAct, President Trump Reveals His New Plan to End Crime in America CleverJourneys, The Joey Show Update The MarshallReport. Tax proposals put forth by Democratic presidential candidate Joe Biden and Bernie Sanders wont generate as much revenue as their campaigns project, and in some cases would fall significantly short of estimates, according to new analyses by the Penn Wharton Budget Model, a non-partisan policy research initiative at the University of Pennsylvania. 2009-2023 The Fiscal Times. Is the United States on The Same Calamitous Path as Yugoslavia? The latest radio shows from our sister site. bc1q5z3xe8syvrt5xd52880mgj644tv9d5q55rk6tc, MONERO ADDRESS: Penn Wharton reportedly plans to follow up with additional analysis considering the effects of the tax plans if the revenue raised were used to fund investments that boost productivity. According to Bloombergs Anthony Carpaccio, the Department of Defense made $35 trillion in accounting adjustments in 2019, easily surpassing the $30.7 trillion This article originally appeared on Zero Hedge. Its not a pile of cash, and its not all expenditures. Clearly, the The changes skew sex ratios in the frog population and could be a major cause of amphibian decline worldwide. The Defense Department acknowledged that it failed its first-ever audit in 2018 and then again last year, when it reviewed$2.7 trillionin assets and$2.6 trillionin liabilities. 22% unknown outcomes! Real outlays grew 1.7 percentage points a year faster than the historical average since the end of 2017; real receipts grew 1.8 percentage points slower, Fox says. Get the latest in military news, entertainment and gear in your inbox daily. Why it matters: More broadly, the number highlights the persistent lack of internal financial controls at the Pentagon, which makes it extremely difficult to account properly for spending in the largest government budget. Defense Department spokesman Christopher Sherwood referred questions about the Pentagon's accounting system to the GAO report, in which the Pentagon's deputy chief financial officer vowed to fix the issues raised. They are just proxies for the government with their 99% conviction rates. This was an office building, not a chemical facility. Source:https://www.zerohedge.com/economics/just-little-sloppy-record-keeping-pentagons-35-trillion-accounting-black-hole, Your email address will not be published. That does not mean that the Defense Department ( Note carefully the date of this , Nikola Tesla gave the first public demonstration of radio in St. Louis on March 1, 1893, although he had presented his work prior to this behind closed doors. On the other hand, the increase in marginal tax rates discourage labor and savings. So what are these accounting adjustments? Mnuchin Said Thunberg Needed to Study Economics Before Offering Climate Proposals. Follow us on Twitter: @yuvalrosenberg, @mdrainey and @TheFiscalTimes. The origin of this latest move against the free flow of information seems to have stemmed from a letter sent by Adam Schiff (D-CA) to the heads of Facebook and Google wherein he lamented the increased viewership of the vaccine debate: There is strong evidence to suggest that at least part , (Jon Rappoport)Here I am printing the abstract of a new study:Aluminium in brain tissue in autism.The publication isJournal of Trace Elements in Medicine and Biology. The next day, the WTC was attacked as well as the pentagon itself. 163K subscribers in the conspiracy_commons community. according to a recent Government Accountability Office report. So, like in your household budget: It would be like moving money from checking, to savings, to your 401K, to your credit card, and then back.. It also means that the Defense Department really sucks at accounting, according to a recent Government Accountability Office report. The MarshallReport, Five Charged in Texas Border UPS Drug Distribution Operation CleverJourneys. 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.. There was no source of fuel and the photos of the collapse fail to show a raging fire. And for further perspective on the DoDs defense ofthe beggars belief figure: It means money that DoD moved from one part of the budget to another, Clark explained to Task & Purpose. Embed Share. The WTC was attacked as well as the Pentagon failed its audit amid now. @ mdrainey and @ TheFiscalTimes get the latest in military news, entertainment and in. Us economy US on Twitter: @ yuvalrosenberg, @ mdrainey and @ TheFiscalTimes Pentagon! 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