By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Chris Powell, Treasurer and Secretary of the Gold Anti-Trust Action Committee (GATA), says price manipulation of all markets is a major problem the world faces. Powell explains, “This is an issue far bigger than gold and silver. Gold and silver are just minerals, atomic elements. The issue for us is much bigger than that. The issue is free and transparent markets and having an accountable government. You cannot have those things unless you have freely traded monetary metals markets and freely trading currency markets as well. We don’t worship the golden calf or the silver bull. We are pursuing a much more justice oriented agenda here. We want government to tell us what they are doing in the markets. We want them to be open and accountable, and that requires a free and transparent monetary metals market.”
No matter how much financial manipulation is occurring on a global scale, you cannot suppress the outcome of those policies. One of the outcomes is inflation, and yet the new cover of Bloomberg/Newsweek asks the question “Is Inflation Dead?” Powell says, “This is worse than a prediction. It’s a delusion. Inflation is all around us. I don’t know what world the government is living in where they put out monthly reports saying inflation is tame. These people are not paying medical insurance premiums. They are not paying college tuition. They are not paying state taxes. They are not going to the grocery store and seeing prices rise monthly and, of course, they are not noticing the inflation that has manifested itself in the stock market. . . . Inflation is not dead. It’s all around us, and it has been all around us.”
Macroeconomic analyst Rob Kirby says $21 trillion in “missing money,” discovered in late 2017, is now a “national security” issue but is not a secret to the leaders of the rest of the world. Kirby explains, “The national governments around the world have become all too aware of the shenanigans that have gone on and the poor stewardship that has been illustrated by the keepers of the U.S. dollar, the world’s reserve currency. This is what is at the root of all of our international economic tension. This is what is really at the root of the difficulties and differences between the American regime, the Chinese regime and the Russian regime. These people are aware of what has transpired, and they are not going to tolerate what’s been done in the name of keeping the U.S. dollar propped up as the world’s reserve currency and the criminality that’s been involved in doing so.”
Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says the federal governments made $21 trillion in “missing money,” discovered in late 2017, a national security issue the public is not allowed to find out where the money is. Fitts explains, “There is a big study we published at Solari.com. If you go to the annual wrap-up on DOD and HUD ‘missing money,’ we have a whole piece on FASAB Standard 56, and it explains how it works. Essentially, what it says is there is a secret group of people, by a secret process, that can take a portion of the financial statements on the books and make them secret. You cannot know what a secret is and what is not. So, when you look at financial statements at the Department of Defense, essentially, they are meaningless because you don’t know what has been cut out. When you add this to the other laws that they promulgated that allows them to classify income flows and allow the private contractors and banks freedom from complying to SEC regulations, what you’ve just done . . . is taken the vast majority of the U.S. securities market dark. If I am an investor and I am looking at anything impacted by the federal credit, all the way from U.S. Treasuries, Fannies and Freddies, municipal bonds . . . or the defense contractors and the banks that handle all the deposits of all the government accounts, I cannot know what their financial statements say. It’s meaningless. It’s very frightening what they have done. . . . I would not buy a Treasury.”
Fitts says investing now hinges on one main question, “The biggest problem when you look at investment today is: What is a good investment in a world where the rule of law exists, and what is a good investment when there is no law? There is way too much money going into military, going into war and going into force, and part of it is a real concern about lawlessness. . . . The value of an asset is only good if you can protect it.”
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.”
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.”
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.”