In fiscal 1999, the Department of Defense was “missing” $2.3 trillion dollars. To put that amount of money in perspective, it is approximately 3X what President-elect Obama is .
In fiscal 2000, the Department of Defense was “missing” $1.1 trillion, about 1.5X what President-elect Obama wants to invest in America.
So between October 1998 and September 2000, the Department of Defense was “missing” $3.3 trillion. Because the amount of money disappearing is so enormous, years ago we started a archive of articles on the “missing money” to try to keep up with the trillions sliding out of the federal accounts.
From 1997 to March 2001, the Under Secretary of Defense (Comptroller) who served as the chief financial officer for the Department of Defense was William J. Lynn III. In that position, he was the chief financial officer for the Department of Defense and was the principal advisor to the Secretary and Deputy Secretary of Defense for all budgetary and fiscal matters. That means he was the person responsible to make sure no money went missing and that the Department of Defense published audited financial statements — which it failed to do in those years and every year since.
When Mr. Lynn left Defense in 2001, he joined DFI International and then in 2005 became the chief lobbyist for Raytheon. He was replaced at Defense by Dov Zakheim.
Today, President Elect Obama nominated William J. Lynn III as the Deputy Secretary of Defense. The press release said, “Lynn brings decades of experience and expertise in reforming government spending and making the tough choices necessary to ensure that American tax dollars are spent wisely.”
Obama also nominated Robert Hale to Lynn’s former position, Under Secretary of Defense (Comptroller). From 1994 to 2001, Mr. Hale served as the Assistant Secretary of the Air Force (Financial Management and Comptroller). That means that Hale, same as Lynn, was in charge of the money when all the money disappeared.
I guess the guys who got the last $3.3 trillion were pretty happy with Mr. Lynn and Mr. Hale and decided to bring them back.
Which brings me to the question I keep asking, “Where is the money and how do we get it back?“
What was going on when this money went missing between 1998 and 2000? I recall the Republicans furious over the “peace dividend.” Wasn’t Clinton cutting back on defense then? Did they have to steal to cover their own business. What I’m getting at is the adage that when the tide goes out we see who is not wearing a suit.
I think you’re right about it being a system. Those who were entrusted with our defense instead used their position to steal from us and betray us. I wonder if there are people in the intelligence/defense who subscribe to their code of honor enough to help right this wrong.
In India Mr. Ramalinga Raju and his brother ran for several years India’s biggest Ponzi scheme. In the scheme they used their majority owned and India’s largest computer company, Satyam. But on Friday, 1-9-09, they were arrested and JAILED until at least 1-23-09. Yet America’s biggest Ponzi schemer, Madoff, gets no slammer bed and stripes, but lives in his penthouse in silk shorts! See; http://www.theaustralian.news.com.au/business/story/0,28124,24899133-36418,00.html. Will
mhelburn:
Your concerns about money going to Iran, Hamas and Hezbollah are probably misplaced as none of those groups has harmed you anywhere near what your own crooked Military Industrial Complex (that Eisenhower warned about) has.
SO???? Who are the real terrorists? You don’t have to look very far. Conservative Islam would have chopped off the heads of most Wall St bankers by now.
Top banks accused of laundering money for Iran
http://www.nydailynews.com/news/us_world/2009/01/10/2009-01-10_ten_of_the_worlds_top_banks_accused_of_l-2.html
Ten international banks including British-based Lloyds laundered “billions of dollars” for Iran through New York banks, Manhattan District Attorney Robert Morgenthau announced Friday. The scheme helped Iran turn its dirty money into greenbacks, which it could then use to buy goods prohibited by international sanctions.
Some of the money went to fund terrorist groups like Hamas and Hezbollah, and to help Iran get materials, including tungsten, for long-range missiles, sources said.
“This is one of the biggest investigations we’ve ever conducted,” said Morgenthau.
Lloyds admitted it laundered $300 million and agreed to pay a $350 million fine and open its books to investigators. If records show that the bank knew it was helping Iran break international law or foster terrorism, Lloyds could face criminal prosecution, authorities said.
None of the other nine banks was identified because they are working out similar agreements with Morgenthau’s investigators. The CIA will also review the bank records.
Revolutionary France
Says:
January 11th, 2009 at 4:33 pm
Time for pitchforks.
http://uk.youtube.com/watch?v=gx8MgZsyUf0
Dr. Jim DeCosta
Says:
January 11th, 2009 at 4:43 pm
I think you’re going to be reading a whole lot more soon in re: the role of abusive naked short selling and money laundering. Remember that the bad guys need to “collateralize” these debts with cash or securities. The investor’s money stays with the purchasing b/d for him to earn interest off of until delivery is achieved. The bad guys doing the selling need to post collateral at their own clearing firm to protect their clearing firm’s caboose. Nothing is theoretically more risky than the naked short selling of penny stocks and the clearing firm knows this. Dirty money works just fine for “collateralization” purposes. As the share price predictably tanks the collateralization necessities also do and this new “clean” money can flow back offshore. Our b/ds are theoretically supposed to be monitoring for money laundering activity by filing “suspicious activity reports” or “SARs” due to the mandates of “the banking secrecy act”. I think it was E-trade just paid a measly 1 million dollar fine last week for not having a mandated anti-money laundering program from 2003 all the way until 2007. Some securities scholars have proffered that a b/d with no anti-money laundering program in effect might be the ideal b/d to use in abusive naked short selling crimes. We’ll see. How in the heck can you “forget” to have a mandated anti-money laundering for 5 straight years? I think I tried to make this point either today or yesteday: where do you think that b/ds charging $7 per trade are making their money? Some are making it through the interest “earned” during that period in which the NSCC will pay you to “wait” for the delivery of the failed to be delivered shares instead of opting for a buy-in.
There is obviously tremendous Evil afoot. The American Citizen allows this Evil to reign unchecked. Black Budget monies are divided among culprits such as Sandia National Laboratories and the DOE. Nothing is EVER for the Average Citizen. 90% of all Americans are seen as Useless, Expendable, Eaters. It is like George Orwell’s “1984” come to life. “Hoaxes” like Alternative 3 have actually been achieved. Even an Omega-Level event, such as a Asteroid impact would not end this corrupt nightmare.
The Rabbi is currently hard at work for Booz Allen…(gd luck to B.A.)
OK, that piece of info gets my one swing at bat for 2009, so wish me luck.
1.-There is no money in the US Treasury.
2.-The Federal Reserve balance sheet looks like this:
On the left side, there is nothing left. On the right side, there is nothing right.
3.-The Greenbriar Resort in White Sulfur Springs, Wt Va. has a Mt Weather type facility built
for the Barney Frank family, and Chris Dodd, Nancy Pelosi types.
4-Mt Weather , located in Thurmont, Md. has blast doors protecting the cavernous interior capable of housing thousands, that take 12, repeat TWELVE minutes to close.
4. I recommend you dear readers of this unsolicited blog response, go to the Luray Caverns, located
in Luray,Va and check out mother nature’s very own Mt Weather.
It is a mile deep of solid rock and only costs about $5-6 bucks to take a tour. Once down there, you can hide behind a huge boulder, and ride out the Obama first term….(no joke)
Good luck everybody.
Walter Reed
I-got-me-a-shotgun,a-rifle,and-a-four-wheel-drive,
and-a-country-boy-can-survive.
Got-shotguns?