That is a lot of bad accounting:
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.
[…] Pentagon Has $6.5 Trillion Unaccounted For […]
At the very least, those vaults are debased. There are two grades of investment gold, bullion grade (pure) and coin grade (from melted down coin alloys.) When London tried to repatriate some of their gold decades ago, the gold that the US sent them turned out to be coin grade bars, not bullion grade. Frankly, if those are the ones we sent, it suggests to me that we might not even have any bullion grade (or why would we send the bars that show the fraud so early?)
https://www.bullionstar.com/blogs/ronan-manly/keys-gold-vaults-new-york-fed-part-3-coin-bars/
I would amend the part where it says “There has been very little gold bar activity in or out of Fort Knox since 1968” to “There has been very little official gold bar activity in or out of Fort Knox since 1968.”
Lucky The USA never had a Pentagon in the World Wars. Just imagine if you will if the Pentagon had been around in the US in 1941. Would America still win WW2?
From the movie Independence Day, when the President finally learns about Area 51:
“Where does the money for all this come from?”
“You don’t really think they spend $20,000 on a hammer, $30,000 on a toilet seat, do ya?”
I wonder how much of this may have been diverted to Agencies That Do Not Exist, for purposes unknown. Although fraud is a pretty good explanation, too.