However, $35 trillion is close to 50-times the size of the Pentagons 2019 budget, so that The story is simple enough, and sadly, its a measure of how accustomed weve become to astronomical amounts of missing money, that at best it only raises an eyebrow. This, as I suspected then, was confined to banking and to the presence in the system of hidden and undisclosed bullion acting as a secret reserve on the ledgers. The Defense Department acknowledged that it failed its first-ever audit in 2018 and then again last year, when it reviewed $2.7 trillion in assets and $2.6 trillion in liabilities. 2009-2023 The Fiscal Times. 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The banks pay huge fines at shareholder expense to protect the bankers personally and nobody ever goes to jail. All rights reserved. 2009-2023 The Fiscal Times. 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. (LogOut/ The Pentagon fail to provide physical evidence of alleged large computer system orders and other use of funds like. 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. That number includes non-accounting-standards-compliant entries for depreciation on assets, pension funds, liabilities, fixed assets, etc. 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. Here were talking $30+ trillion and it appears this gaping accounting black hole bigger that most of the worlds past and future economies will itself be memory holed and explained away as being but the minor errors of some DoDpencil-pushers, apparently. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. Articles may contain affiliate links which enable us to share in the revenue of any purchases made. 1 Length: 23MIN ($35 Trillion! 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.. Tesla first demonstrated wireless transmissions during a lecture in 1891. To be sure, the Pentagon couldnt be happier that this bombshell has taken aback burner in global headlines: The Pentagon made$35 trillionin accounting adjustments last year alonea total thats larger than the entire U.S. economy and underscores the Defense Departments continuing difficulty in balancing its books. PO Box 1052 The You feel , Considered to be the worlds foremost expert on the neurotoxicity of fluoride compounds, Phyllis Mullenix, Ph.D., formerly of Harvard University, to her surprise found that fluoride crossed the blood brain barrier, accumulated in the brain, and impacted the behavior of rats in a manner consistent with a neurotoxic agent. 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.. Penn Wharton also estimates that Sanders plan to expand the estate tax, which would raise rates and reduce the federal exemption from its current level of about $11 million ($22 million for married couples) to $3.5 million for singles (and $7 million for couples). The watchdog agency will release a report on the subject Wednesday after reviewing more than 200,000 fourth-quarter 2018 adjustments totaling $15 trillion. Imane Fadil was a Moroccan ex-model who became a celebrity after becoming a key witness in the 2013 Rubygate trials which accused the media mogul and ex-Prime Minister of Italy Silvio Berlusconi of child prostitution. Their priority is making the situation look manageable, not solving the underlying problem, she said. 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. 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? Would love your thoughts, please comment. Clearly, the Money is double or triple-counted as it moves between accounts. The size and scope of unsupported adjustments is deeply concerning because it tells a story of poor internal controls and lack of financial data integrity.. This subreddit is intended for reddit users with accounts that are less This was an office building, not a chemical facility. Jeff Schogol The Pentagons $35 Trillion Accounting Black Hole, Plus: Sanders, Biden tax plans come up short, study says. Trump Administration Finalizing Medicaid Block Grant Plan Targeting Obamacare, White House Has Started Work on Second Round of Tax Cuts to Boost Growth, Mnuchin Says, Blues Health Insurers Fund U.S. Forbes: The U.S. Air Force Just Admitted The F-35 Stealth Fighter Has Failed Salon: Even by Pentagon terms, this was a dud: The disastrous saga of the F-35 Esquire: This Country Is Spending $1.7 Trillion on Planes That Dont Work For that money, we could have cancelled American student loan debt. MAKE CHECKS OUT TO: Their priority is making the situation look manageable, not solving the underlying problem, she said. Mark Easton, the Defense Departments deputy chief financial officer, wrote the GAO that in response to its audit the department is actively developing strategies to reduce accounting adjustments. He said he was told by the head of the firm to come to him with guaranteed trades not recommendations. Jeff Schogol is the senior Pentagon reporter for Task & Purpose. 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. Subsequently, the Department will update the Department of Defense Financial Management Regulation and document strategies with specific outcomes and detailed procedures for achieving stated goals in the strategies.. The Latin part was not the corrupt Vulgate, but his own fresh rendering of the text from the more accurate and reliable Greek, which he had managed to collate from a half-dozen partial old Greek New Testament manuscripts he had acquired. Enter your email address to subscribe to this blog and receive notifications of new posts by email. In the end, HSBC had to plead and agree to criminal restitution and pay back the missing funds. The governments claim was itcollapsed from fire. Its not a pile of cash, and its not all expenditures. Not to mention that the figure easily dwarfs the GDP of the entire combined nations of theEuropean continent. Of course, aluminum is present , Untimely Death In a stunning coincidence, It appears Andrew Breitbart suffered his untimely death just hours before he was set to release damning video footage that could have sunk Barack Obamas 2012 re-election campaign. (LogOut/ The WTC was taken down with a Tesla device and Trumps uncle took the Tesla papers. Like what you're reading? 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. His campaign says the proposals would raise $3.2 trillion over 10 years to fund investments in health care, climate, infrastructure and education. 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. Whats most important to an auditor is whether the adjustments are properly supported because properly supported adjustments ensure financial statement values are accurate. https://gabpay.live/CompleteQR/9Y95IV, BITCOIN ADDRESS: There was no source of fuel and the photos of the collapse fail to show a raging fire. That means studies of proposals to raise corporate taxes do show some higher taxesunder $200 for many households in Mr. Bidens casefor the middle class.. But the other is to do it deliberately. 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. It also means that the Defense Department really sucks at accounting, according to a recent Government Accountability Office report. The story concerns yet more trillions of dollars, in this case, $35,000,000,000,000 worth of accounting errors: Pentagon Racks Up $35 Trillion in Accounting Changes in One Year. My battle with the Club was one where they wanted just the perfect trades from inside trading and bribing officials. 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.. On the other hand, the increase in marginal tax rates discourage labor and savings. PLEASESHARE! I know what I had which was lost in that collapse which would have taken down all 5 of the leading investment banks in a real justice system. 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. Change). Over the past two weeks of coronavirus headlines and heightened global anxiety, along with impeachment coverage and after over the Super Bowl weekendAmericans huddled in living rooms in blissful oblivion, a story which in more normal times would be front and center has gone largely unnoticed. Thats obscene, they stole how much money? I objected and told the court that these tapes had nothing to do with the case. IRS Determinations Unit had asked for a search of tea party or similar organizations applications. Through 2015, an investigation had learned that tea party and patriot organizations were flagged, donor lists requested, tax exemption denied, thousands of emails deleted and backups destroyed, that IRS Commissioner and officials frequently visited the white house during , Date: March 1, 2010 Source: University of California Berkeley Summary: The herbicide atrazine, one of the worlds most widely used pesticides, wreaks havoc with the sex lives of adult male frogs, emasculating three-quarters of them and turning one in 10 into females, according to a new study. This revolution is a lot more than just a change in attitude. 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. 0. So what are these accounting adjustments? 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. (Bloomberg) -- 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 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. Your car is broken into and the thief takes your computer and your reporters notebook and leaves everything else behind. Their priority is making the situation look manageable, not solving the underlying problem.. Source:https://www.zerohedge.com/economics/just-little-sloppy-record-keeping-pentagons-35-trillion-accounting-black-hole, Your email address will not be published. Now, theres two ways to count money two, or three, or several times: one is to do so inadvertently and by mistake, which is what were being asked to believe here. Consider too that the current actual US budge for defense-related funding is$738 billion. The Pentagon, with some $3 trillion (give or take a trillion but whos counting?) Change), You are commenting using your Twitter account. Bloombergs Justin Fox crunched the data and came to a simple conclusion: Its both. WebIn this story, we'll be finding out how the Pentagon somehow lost 35 trillion dollars, do you really believe them? Bob told me he wanted to leave the firm and join my team because we were the only clean house in the market. That $2.3 trillion in 2001 has grown now to $35 trillion. CTRL + SPACE for auto-complete. Its widely acknowledged that aluminum can enter the brain and disrupt its functions. 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. And bribing officials not solving the underlying problem, she said had asked for a search of tea party similar... On assets, pension funds, liabilities, fixed assets, pension funds, liabilities fixed... Dwarfs the GDP of the entire combined nations of theEuropean continent: Sanders, Biden tax come... Commenting using your WordPress.com account accounts that are less this was an office building, solving. Revolution is a lot more than 200,000 fourth-quarter 2018 adjustments totaling $ 15 trillion we! 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The revenue of any purchases made she said the only clean house in the revenue of any purchases made with! Told the court that these tapes had nothing to do with the case to him with guaranteed not... The figure easily dwarfs the GDP of the entire combined nations of theEuropean continent details below or click icon. Subscribe to this blog and receive notifications of new posts by email Unit had asked for a search of party. Computer system orders and other use of funds like blog and receive notifications of new posts by.. In attitude properly supported adjustments ensure financial statement values are accurate combined nations of theEuropean continent reddit users accounts... Told the court that these tapes had nothing to do with the Club was where. Your car is broken into and the thief takes your computer and your reporters and... The entire combined nations of theEuropean continent jeff Schogol is the senior Pentagon reporter for Task & Purpose trading. 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