Monday, August 22, 2016

Pentagon Has $6.5 Trillion Unaccounted For

The Pentagon failed to account for $6.5 trillion in its financial statement, a recently-recovered Inspector General’s report on the 2015 fiscal year said. It reveals the audit of the Department of Defense was “materially misstated.”
The army failed to provide “accurate, complete, timely and well-supported” documents that could have explained the use of trillions of dollars in quarterly and yearend adjustments.
The US military made $2.8 trillion in wrongful adjustments in one quarter alone in 2015, and $6.5 trillion for the year, but could not provide anything that would detail what it spent the money on.
There were a total of 64,321 journal voucher (JV) adjustments made in the third quarter and 142,355 by the yearend, but only 7,083 of them were supported with detailed documentation of transactions.
The IG has also found that 16,513 of 1.3 million records were “removed” from the Pentagon’s budget system during the third quarter of the 2015 fiscal year.
“Without support for why these records were removed, we could not determine whether the records continued valid transactions,” the IG said, adding that the Defense Finance and Accounting Service Indianapolis (DFAS Indianapolis) could not explain why the files were removed.
This isn’t $6.5 trillion dollars missing, it is just $6.5 Trillion in records, of transactions that are recorded redundantly, that are probably being fudged or misfiled. So if a case of ammo moved through several departments, and generated receipts all along the way, and one screwed up, it could record many times its value in erroneous accounting.
But it gives you an idea of the opportunities for fraud throughout the entire government. There may very well be some really rich power brokers somewhere, who have been milking the government cow with fraud and theft for decades. They may be sweating bullets right now, that Trump is maybe going to walk in there, and not play the traditional Washington game.
It makes you wonder why the Federal Reserve was so against Ron Paul auditing their gold stockpile. It would not surprise me in the least if the collapse happens and we find those vaults are empty.
This is free resources – and yet we are still going K.

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