Catherine Austin Fitts: Now Legal for US Government to Lie About Money at Line Item Level — Government Budget is Now Completely Unreliable

03 Economy, 10 Transnational Crime, 11 Society, Corruption, Government, Office of Management and Budget, Officers Call

Text Summary and Additional Links Below the Fold

The missing 21 trillion, how we are all impacted and… what really happened during the Kavanaugh circus intended to created the biggest distraction from what truly happened at that exact same time: the enactment of a bi-partisan regulation, FASB 56, voted in complete secrecy to render completely occult all government accounting.  Do not get fooled by the official narrative.  Here is the result of that bi-partisan effort, once again created for “national security” bogus reasons.  The capture of our tax dollars and public finances is now complete and we can no longer know where weapons manufacturers and mercenaries not only GET their money from but spend it, how and where, we can no longer know which private corporations and multinationals have become tax exempt or what portion of the American people’s money is being used to surveil them and by whom.

FASAB Statement 56: Understanding New Government Financial Accounting Loopholes

“As of the last few months, this tension has taken the future of government financial disclosure to the public to new levels of opacity. The Federal Accounting Standards Advisory Board (FASAB) has released Statement of Federal Financial Accounting Standards 56 (Standard 56), taking government accounting practices from laxly enforced reporting standards to a new benchmark entirely–expressly approved obfuscation of reporting and, in some cases, outright concealing financials.

This sounds fairly alarmist at first blush but, simply put, Standard 56 creates a set of situations where government entities may move numbers around to conceal where money is actually spent or even not report spending outright. Many of the concepts in Standard 56 are not new and have been discussed in FASAB reports for nearly a decade. However, these new changes make a substantial portion of government financial reporting so unreliable as to not be a useful tool to the public (see FASAB Statement of Federal Financial Accounting Standards 56, available at http://files.fasab.gov/pdffiles/handbook_sffas_56.pdf).”