Posts Categorized: USAWatchdog.com

Posted by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Michigan State Economics Professor Mark Skidmore has revealed there was $21 trillion in what he calls “missing money” from the Department of Defense (DOD) and Housing and Urban Development (HUD). He and a team of academics used publicly available government accounting reports and revealed their results in late 2017. Now, the mainstream media (MSM) has picked up the story. Instead of sounding the alarm to the public, it says it’s basically all a big mistake and is discounting the biggest accounting fraud in the U.S. government history. Is the MSM trying to cover up and kill this story? Dr. Skidmore says, “They are trying to kill this story, but I don’t think they have killed this story. . . . Basically, what they said was this was just all ‘plugs’ and there is a mix-up in the transactions. It’s really not that big of a deal. They did say it was $21 trillion in transactions that cannot be verified, but discounted it fully.”

Now, the government will not give any information on this “missing” $21 trillion. Skidmore goes on to say, “When you start looking at the mess that could possibly generate $21 trillion that are unverified, ‘missing money,’ it’s so big, so huge, it is inconceivable that it could just be a comedy of errors. . . . I think there is a high percentage of fraud. I believe there is a tremendous amount of fraud embedded in there. . . . When we get to these numbers, the odds there is not fraud in $21 trillion is mind boggling. . . . There is zero chance there is no fraud.

So, this is a huge accounting fraud? Dr. Skidmore says, “Yeah, in my mind, I cannot come to any other conclusion. I just don’t see how you can come up with those huge numbers based on public budgeting without something terribly gone wrong. It’s not just ‘plugs.’ You want to go back in and look at those transactions, and we are not given access to do that.”

More…

Posted by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says it looks like a “global recession is coming.” Is that going to cause the debt reset we’ve been hearing about for years? Fitts says, “Make no mistake about it, there is no reason for the federal government to default or monkey with any debt because they can literally print the currency. The question is how do they make sure whatever they are printing really holds any kind of store of value. I think the reason you are seeing them reengineer the federal bureaucracy and financial transactions infrastructure is because they want much greater and tighter control to do whatever they do, and that includes to continue to debase the currency. They could do this (reset) entirely by debasing the currency. . . . What we are watching . . . is essentially a coup. We had a financial coup, and now we are watching a legal coup to consolidate that financial coup. I would keep my eye on the fundamental governance structure of the U.S. The important thing is not what they do. The important thing is who controls no matter what they do. Now, we have created a mechanism for them to control entirely in secret and create policies entirely in secret, including around the back of a U.S. President. . . . It’s pirating by the ‘just do it’ method. I said to someone the other day, what is it about secret money for secret private armies that you don ‘t understand?”

$21 trillion in “missing money” at the DOD and HUD that was discovered by Dr. Mark Skidmore and Catherine Austin Fitts in 2017 has now become a national security issue. The federal government is not talking or answering questions, even though the DOD recently failed its first ever audit. Fitts says, “This is basically an open running bailout. Under this structure, you can transfer assets out of the federal government into private ownership, and nobody will know and nobody can stop it. There is no oversight whatsoever. You can’t even know who is doing it. I’m telling you they just took the United States government, they just changed the governance model by accounting policy to a fascist government. If you are an investor, you don’t know who owns those assets, and there is no evidence that you do. . . . If the law says you have to produce audited financial statements and you refuse to do so for 20 years, and then when somebody calls you on it, you proceed to change the accounting laws that say you can now run secret books for all the agencies and over 100 related entities.”

More…

Posted by & filed under USAWatchdog.com.

December 2, 2018

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

The International Monetary Fund (IMF) has deemed Deutsche Bank as the most systemically dangerous bank in the world. Professor of Economics and Law, William Black, knows why and contends, “Deutsche Bank (DB) poses as what is called a ‘National Champion’ bank and the largest bank by far in Germany, but it’s actually the largest criminal enterprise in Germany. This is quite a statement because VW is such a massive fraud. . . .It is insane that we allow Deutsche Bank to go from fraud to fraud to fraud. . . .They cheat on everything else you can possibly imagine and, typically, they are getting caught, which is also not a very good sign in terms of their competence even as thieves. Even in the United States, there has been reluctance to crack down on Deutsche Bank. . . . When the New York Commissioner tried to crack down, the Office of the Comptroller of the Currency, the premier banking regulator, actually sought to impede that. He disparaged the New York folks and said there really wasn’t that big of problems and such, and all of that proved to be lies.”

Deutsche Bank was raided by German regulators last week on more allegations of fraud and money laundering.

DB is the epitome of “Too Big To Fail.” So, it will never be allowed to fail, and regulators will not be allowed to regulate them properly. Professor Black says, “Why you should care is Deutsche Bank impedes effective regulation everywhere and because God only knows the next thing they are going to do. This is going to continue until something dramatic changes. Eventually, they can cause the next crisis. . . .There will be a bailout in these circumstances, but that could help trigger another economic crisis. When the largest bank in the third largest economy in the world is completely dysfunctional, then the German economy is more likely to go into recession as well. That is one of the potential sources of the next recession, and you can see lots of people warning that there are signs that a serious recession is pretty likely relatively soon. Relatively could be two years.”

Professor Black, who was a top regulator in the S&L crisis, says, “The whole system weakens itself because it gets caught in this big lie that says we have to pretend that Deutsche Bank is a bank instead of a criminal enterprise.”

More…

Posted by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Radio host Dr. Dave Janda says Attorney General Jeff Sessions was removed because he did not release declassified FISA documents before the midterm elections that were used to spy on Donald J. Trump. It was a treasonous failed coup attempt to remove a duly elected President, and now justice is about to be served. Dr. Janda explains, “I think the first thing you have to start with is declassifying documents, and I believe he is going to do that. I also believe there is a very short time window here. The time window is between now and when the Democrats take control of the House of Representatives. When these documents are declassified, the criminals’ response, whether Republican or Democrat globalist criminals, they are going to say you are misconstruing these texts between McCabe and Comey that implicated me. You are misconstruing what we had to do with these FISA warrants. . . . You don’t have the documentation to support me being involved in this. . . . It’s up to the players in the House right now to unleash this stuff. . . . The window is short. . . . If they wait until the House falls into the hands of the globalist Democrats, it’s going to be declassified and they will be screaming where is the proof, and the Democrats will be twiddling their fingers. . . .They will be working on impeaching the President and won’t bother with that stuff. So, they have a timeline, and the indictments don’t happen until the declassification occurs.”

So, who is going to be indicted first? Janda says, “If you start at the top part of the chain, you are going after the Rothchilds, Rockefellers, the Paysour family, Warburgs and Pincus family . . . that’s the top of the chain. I think they will get there, but I think they will take the middle level guys out first. That is the Obamas, the Clintons, the Holders, the Lynches, the Brennans, the Clappers and maybe there is going to be a Ryan in there, too. Maybe McCain’s name is going to surface again. It could might well be a number of the members of the House of Representatives and possibly the Senate. They will be brought forward and linked to these documents when they are declassified.”

More…

 

Posted by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Michigan State Economics Professor Mark Skidmore made a stunning discovery late last year. Using publicly available government accounting reports, he revealed there was $21 trillion in what he calls “missing money” from the Department of Defense (DOD) and Housing and Urban Development (HUD). The data he used has been scrubbed, all accounting records are heavily redacted and now the federal government has declared its accounting falls under “national security.” Dr. Skidmore can no longer get the government to respond. Dr. Skidmore explains, “At this point, they are no longer responding to any of my inquiries. They are just not answering, and that is very astounding . . . and you can go on and look at the report yourself and see all of it blacked out. I actually lost sleep over that. That really bothered me. . . . Now, they are not even using standard accounting financial reporting rules. They are just moving things around and not telling anybody. So, first, all of this stuff is hidden because it is a national security issue, and now they are just changing the accounting standards. I would ask is that constitutional? I don’t think so. Does it match any of our financial reporting laws? I don’t think so. I am not sure what gives the government the authority to make that decision, and, yet, it’s happening.”

More…

Posted by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com

Former Fed insider Danielle DiMartino Booth is sure the Fed is going to raise interest rates again at the September meeting. Why? DiMartino Booth explains, “I think he’s (Jerome Powell) the most independent Fed Chair in the past 30 years, and I think he’s going to raise rates regardless of what is happening in politics. . . . You don’t kowtow to political pressure when you need to do right by the economy. . . . Powell thinks the inflation numbers are under-reported. He’s listening to companies saying their profit margins are being squeezed . . . non-labor costs are outpacing labor costs by the greatest extent in three years, and what that tells you is inflation has run amok. . . . I think the Fed is going to continue to raise rates. . . . I think the markets have priced in the (September) rate hike by 90%. We may be looking forward to Jay Powell backing off come December. So, I am not really worried right now about a skyrocketing dollar.”

DiMartino Booth points out the biggest problem the world faces now is record global debt near $250 trillion “that few can conceive a workable solution.” Di Martino Booth says, “It really does keep me up at night because of the nature of debt. As we approach the 10 year anniversary of Lehman Brothers, the one takeaway that many have forgotten in the decade that has passed is that you don’t know where the true ticking time bomb is when there is an over-indebted problem. . . . When systemic risk is released, it cannot be contained by any higher authority and potentially be unleashed. The greatest peril of debt is we don’t know where the danger truly lies until something triggers it.”

More…

Posted by & filed under USAWatchdog.com.

August 26, 2018

By Greg Hunter’s USAWatchdog.com (Early Sunday release)

Renowned gold and financial expert Jim Sinclair and financial writer Bill Holter are sounding the alarm now on global financial markets starting to burn down and implode. Sinclair and Holter are business partners at the popular financial website JSMineset.com. Sinclair explains, “‘When’ is the question we are asked constantly by our viewers and readers. . . . ‘When’ is a period of time all of this comes to fruition, meaning the date. . . .‘When’ is now. . . . This is the beginning of something few expect. This has very little to no precedent in history. . . . The system has been unwinding for a significant amount of time, but now is a point in time it is being recognized, especially by those enormous centers of wealth that have robbed so much from so many who are long fiat currency and must convert into something that is real. . . . If you are bankrupt, the way to fix it is to face it–and we are. We have not faced it, but rather made it worse. . . . The price of gold has to equal the liabilities. . . . If we don’t have gold, then it is whatever the price China and Russia wish it to be. If we do have gold, the mathematics work out to be slightly under $20,000 an ounce. I don’t believe we have the gold.”
. . .

More…