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On July 26, 2016, the Office of the Inspector General (OIG) issued a report “Army General Fund Adjustments Not Adequately Documented or Supported”. The report indicates that for fiscal year 2015 the Army failed to provide adequate support for $6.5 trillion. Given that the entire Army budget in fiscal year 2015 was $120 billion, unsupported adjustments were 54 times the level of spending authorized by Congress. An appendix to the July 2016 report shows $2 trillion in changes to the Army General Fund balance sheet due to unsupported adjustments. On the asset side, there is $794 billion increase in the Army's Fund Balance with the U.S. Treasury. There is also an increase of $929 billion in the Army's Accounts Payable. What is the source of the additional $794 billion in the Army's Fund Balance? The July 2016 report is not the only such report of unsubstantiated adjustments. Mark Skidmore and Catherine Austin Fitts, former Assistant Secretary of Housing and Urban Development, conducted a search of government websites and found similar reports dating back to 1998. While the documents are incomplete, original government sources indicate $21 trillion in unsupported adjustments have been reported for the Department of Defense and the Department of Housing and Urban Development for the years 1998-2015. [And why] after Mark Skidmore began inquiring about OIG-reported unsubstantiated adjustments, [was] the OIG's webpage, which documented, albeit in a highly incomplete manner, these unsupported "accounting adjustments," ... mysteriously taken down?
Note: Explore this webpage for a brief background to this astounding news. See also a detailed analysis of these missing trillions, which amount to $65,000 per man, woman, and child in the US. And don't miss this highly revealing interview with Prof. Mark Skidmore of Michigan State with even more startling news.
A recent Scripps Howard/Ohio University poll of 1,010 Americans found that 36 percent suspect the U.S. government promoted the attacks or intentionally sat on its hands. Sixteen percent believe explosives brought down the towers. A Zogby International poll of New York City residents two years ago found 49.3 percent believed the government "consciously failed to act." The loose agglomeration known as the "9/11 Truth Movement" has stopped looking for truth from the government. The academic wing is led by [Prof. David Ray] Griffin, who founded the Center for a Postmodern World at Claremont University; James Fetzer, a tenured philosopher at the University of Minnesota; and Daniel Orr, the retired chairman of the economics department at the University of Illinois. The movement's de facto minister of engineering is Steven Jones, a tenured physics professor at Brigham Young University, who's ... concluded that the collapse of the twin towers is best explained as controlled demolition. Catherine Austin Fitts served as assistant secretary of housing in the first President Bush's administration. [Robert] Bowman was chief of advanced space programs under presidents Ford and Carter. Fitts and Bowman agree that the "most unbelievable conspiracy" theory is the one retailed by the government. It was a year before David Ray Griffin, an eminent liberal theologian and philosopher, began his stroll down the path of disbelief. He wondered why ... military jets failed to intercept even one airliner. He read the 9/11 Commission report with a swell of anger. Contradictions were ignored and no military or civilian official was reprimanded. Griffin's book, "The New Pearl Harbor" ... never reviewed in a major U.S. newspaper, sold more than 100,000 copies and became a movement founding stone.
Note: If the above link fails, click here. Explore the comments of over 100 professors who have publicly called for a new investigation of 9/11. Then explore the excellent, reliable resources provided in our 9/11 Information Center.
October 4th, 2018, was a busy news day. The only thing that did not make the news was an announcement by a little-known government body called the Federal Accounting Standards Advisory Board - FASAB - that essentially legalized secret national security spending. The new guidance, SFFAS 56 CLASSIFIED ACTIVITIES permits government agencies to modify public financial statements. It also expressly allows federal agencies to refrain from telling taxpayers if and when public financial statements have been altered. To Michigan State professor Mark Skidmore, whos been studying discrepancies in defense expenditures for years, the new ruling - and the lack of public response to it - was a shock. From this point forward, he says, the federal government will keep two sets of books, one modified book for the public and one true book that is hidden. Catherine Austin Fitts was Assistant Secretary for Housing and Urban Development during the George H.W. Bush administration. Shes been working with Skidmore on defense accounting issues for two years. She was so alarmed about the new FASAB ruling she commissioned an in-depth study of Standard 56 for her site, the Solari Report. The report writes bluntly that SFFAS 56 is: ... taking government accounting practices from laxly enforced reporting standards to a new benchmark entirelyexpressly approved obfuscation of reporting and, in some cases, outright concealing financials.
Note: Read summaries of several major media articles showing the Pentagon's blatant lies and disregard for accounting. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the military.
Earlier this year, a Michigan State University economist, working with graduate students and a former government official, found $21 trillion in unauthorized spending in the departments of Defense and Housing and Urban Development for the years 1998-2015. The work of Mark Skidmore and his team, which included digging into government websites and repeated queries to U.S. agencies that went unanswered, coincided with the Office of Inspector General, at one point, disabling the links to all key documents showing the unsupported spending. Now, the Department of Defense has announced it will conduct the first department-wide, independent financial audit in its history. The Defense Department did not say specifically what led to the audit. But the announcement came four days after Skidmore discussed his teams findings on USAWatchdog, a news outlet run by former CNN and ABC News correspondent Greg Hunter. Skidmore got involved last spring when he heard Catherine Austin Fitts, former assistant secretary of Housing and Urban Development, refer to a report which indicated the Army had $6.5 trillion in unsupported adjustments, or spending, in fiscal 2015. Given the Armys $122 billion budget, that meant unsupported adjustments were 54 times spending authorized by Congress. Typically, such adjustments in public budgets are only a small fraction of authorized spending. Skidmore thought Fitts had made a mistake. Maybe she meant $6.5 billion and not $6.5 trillion, he said. So I found the report myself and sure enough it was $6.5 trillion.
Note: Explore this webpage for additional background on this story. See also a detailed analysis of these missing trillions, which amount to $65,000 per man, woman, and child in the US. And don't miss this highly revealing interview with Prof. Mark Skidmore of Michigan State with even more startling news. Why isn't the major media reporting this huge news?
A former housing official who worked under President George H. W. Bush has made an astonishing claim that the U.S. government spent years funneling money into the creation of a secret underground "city" where the rich and powerful can shelter in the event of a "near-extinction event." Catherine Austin Fitts ... served as the assistant secretary of Housing and Urban Development for Housing between 1989 and 1990. Fitts ... cited research by Michigan State University economist Mark Skidmore, who released a report in 2017 stating that he and a team of scholars had uncovered $21 trillion in "unauthorized spending in the departments of Defense and Housing and Urban Development for the years 1998-2015." According to Fitts, who worked as an investment banker before joining Bush's administration, that money was used to fund the development of what she described as an "underground base, city infrastructure and transportation system" that has been kept hidden from the public. She [said] that she spent two years researching where the $21 trillion had gone, alleging that she uncovered evidence that there are 170 secret facilities in the U.S. alone, explaining that she and a team of investigators combed through "all the data and all the allegations on underground bases" in order to make a "guess" as to how many might exist. Additionally, Fitts alleged that several of these bases are located beneath oceans—not just underground.
Note: Read more about the groundbreaking work of Mark Skidmore and Catherine Austin Fitts. For more along these lines, read our concise summaries of news articles on military corruption and government waste.
Fannie Mae, the mortgage giant accused of inflating its earnings while rewarding executives with rich bonuses, reached an agreement with the federal government today to pay a $400 million fine. Accusing former Fannie Mae executives of operating an "arrogant and unethical" corporate culture, federal regulators condemned the company in a report today that detailed a pattern of systematic financial manipulation at the company's highest levels. "Senior management manipulated accounting; reaped maximum, undeserved bonuses; and prevented the rest of the world from knowing." Fannie Mae's financial results during that time were "illusions deliberately and systematically created by senior management. Senior executives worked strenuously to hide Fannie Mae's operational deficiencies, significant risk exposures, and improper earnings management" the report said. As part of the settlement, Fannie Mae neither admitted nor denied wrongdoing. Because of Fannie Mae's sheer size and reach into the American economy, however, there are limits to how much the company's clout could be curtailed, [said] Jonathan Koppell, a professor of politics and management at Yale. "Their business reaches into every Congressional district," he said. Fannie Mae's $400 million settlement is more than three and a half times the fine Freddie Mac, its smaller rival in the mortgage business, paid in 2003.
Note: Catherine Austin Fitts served as an assistant secretary of HUD in the first Bush Administration. As a woman of high integrity, she tried to blow the whistle on the major shady dealings at Fannie Mae and HUD, and suffered for it. She now manages a highly inspiring organization dedicated to powerful, positive economic and social change. I highly recommend exploring her Solari website at http://www.solari.com
The gold price has risen above $1,500 an ounce for the first time after concerns about global economic recovery lifted the metal's appeal as a haven. In Hong Kong trade, gold hit a record $1,500.70 an ounce, which traders said was mainly due to Standard & Poor's downgrade of its outlook on US debt. Silver also touched a 31-year high of $44.34 an ounce. But analysts were divided about whether the price could go higher and are waiting to see if trading in Europe and the US continues the momentum seen in Asia. Some market watchers see gold consolidating at its current level as it waits for the next reason to push higher. Silver continued to soar, rising to a 31-year high for the fifth consecutive session. Not only is silver increasingly seen as a haven, but there is also rising demand for industrial consumption.
Note: Gold is one of the most highly manipulated of all commodities. As a glaring example, when gold first broke the $1,000 mark in Feb. 2009, just over two years before this article was published, almost no media reported on this major news. In 2004, gold was around $400 an ounce and has been soaring ever since. For reliable charts showing this, see the bottom of the webpage at this link. Key individuals with inside information on precious metal manipulations, like whistleblower Catherine Austin Fitts (Assistant Secretary of Housing and Urban Development under George H. W. Bush), have been predicting this rise for years.
