Archive | January, 2019

Government Spending/ Accounting Fraud

20 Jan

A Brief History of Watching Where the Money Went

(Accompanying Video Link with Dr. Skidmor and Greg Hunter)

  • For decades, the Federal Reserve has published data on the money supply, and for many years the Fed set targets for money supply growth.
  • In the past two decades, a number of developments have broken down the relationship between money supply growth and the performance of the U.S. economy. (And what were they?)
  • In March 2006, the Board of Governors ceased publishing the M3 monetary aggregate.

 

moneysupply

 

  • By August 2007, the Federal Reserve realized that banks no longer had enough liquidity to function.
  • In 2008 came the financial collapse requiring the Bail-out of Bear Stearns, Fannie MaeFreddie Mac, AIG, and the Credit Markets handled by the major banks

 

Must be Time to Change the Standards –

We Got Caught

 

  • In 2017, Michigan State University economics professor Mark Skidmore discovered $21 trillion missing in the federal budget going back to 1998.
  • In 2017/8, the government attempted an audit of the Department of Defense. The DOD failed the audit.
  • In 2018, the Federal Accounting Standards Advisory Board (FASAB) posted a new document, which recommended that the government be allowed to misstate and move funds in order to hide expenditures if it is deemed necessary for national security purposes.

Now it is OK to spend Federal money if “somebody?” in any agency of the Federal Government says it’s “for national security purposes”. Then, those expenses are Removed from the Expenditure list and hidden from the Public.

 

Remember to Think For Yourself!