by Jack Lee
Before you read this alarming story I suggest you sit down, have a glass of water and a sedative handy. You’re going to need it!
This may be the most shocking story I’ve ever read about government waste and somehow it’s been swept under the carpet by the media that carried this story starting in 2001. Now it’s a story that has been all but forgotten, so let us refresh your memory.
If you are ready…here is quite possibly the greatest economic scandal of the century:
It appears the Bush, Clinton, Bush Administrations (et al) may have lost track of about 25% of the military budget over an extended period and quite possibly over 2.3 trillion dollars in unaccountable defense expenditures. That is trillion with a (T) not billion.
This story began the day before 9/11 when then Secretary of Defense Donald Rumsfeld delivered a stunning revelation that several trillion dollars in defense spending simply could not be accounted for and he was going to start a major investigation. Donald Rumsfeld said, The money wasted by the military poses a serious threat. “In fact, it could be said it’s a matter of life and death,” Rumsfeld blamed the loss on the Clinton administration, however this loss is far too big to be the fault of one administration, it must be many administrations and it is problem that still exists and that is the scary part!
The next day this “almost historic” investigation was halted and greatly overshadowed by the perilous events of 9/11 and apparently no further inquiry was made about the missing money or at least none that I could find. So I am left to believe that to this day it has not been solved, despite ever more spending on the military in the name of fighting terrorism and homeland security.
NOTE: If this is a hoax, y’all feel free to jump in and set us straight, because from my search of the internet it appears to be the real deal! I founding nothing to the contrary, but who knows it could be out there somewhere. I’ll continue checking, but for now you might as well read the whole story and checkout the video.
According to the CBS News story that documented this loss the amount that is missing equals about $8000 for every man, woman and child.
For the complete video news story click here.
And now here is more on this story:
To: Diane Rehm
From: Catherine Austin Fitts
Re: The Missing Money: Not Billions…TRILLIONS
This morning, Carolyn Betts was listening to your radio show in
Cincinatti when a caller mentioned that $2 plus trillion was missing
from the Pentagon. You corrected him saying he had the number wrong –
that it was billions, not trillions.
In fact, your listener was correct: the amounts unaccounted for are
in the TRILLIONS.
The caller was probably recalling that Defense Secretary Donald
Rumsfeld addressed these amounts at a press conference in 2001.
However, his comments related to amounts missing during the Clinton
Administration.
In fiscal 1999, the Department of Defense (DOD) reported $2.3
trillion of undocumentable adjustments to balance its books. In fiscal
2000, DOD reported $1.1 trillion of undocumentable adjustments to
balance its books. For fiscal 2001, DOD declined to report the amount
of undocumentable adjustments used to balance its books. I learned of
these amounts while researching large amounts missing at the
Department of Housing and Urban Development (HUD) during the same
period.
In FY 1999, HUD refused to publish audited financial statements,
reporting $17 billion of undocumentable adjustments in the FY 1998
ending balance and $59 billion of undocumentable adjustments for FY
1999. HUD declined to report their undocumentable adjustments in FY
2000.
In 2007, the federal government declined to publish audited financial
statements for the 11th consecutive year.
For more, see these links:
http://www.solari.com/blog/?p=501
http://wwwsolari.com/learn/articles_missingmoney.htm
Very Truly Yours,
Catherine Austin Fitts
Former Assistant Secretary of Housing, Bush I
Former lead financial advisor to FHA, Clinton Administration
Hickory Valley, TN
Carolyn Betts, Esq
Former lead financial advisor to FHA, Clinton Administration
Cincinnati, OH