Well, Dr.Skidmore, who is familiar to readers here as the economics professor from Michigan State who verified the missing money claims of Catherine Austin Fitts, and who has been tracking missing federal money ever since, has now stated that the amounts of missing money are nearing the astronomical, according to this article spotted by S.D.:
According to Dr. Skidmore, between 2017-2019 the US Department of Defense is missing about $94 trillion dollars, that's $94,000,000,000,000:
Now, even more unofficial and unaccounted for cash has been revealed from the DOD. It’s an eye popping $94 trillion from the years 2017 to 2019. So, add in the $30 trillion in official debt, and that means there is at least $145 trillion in overt and covert money floating around in the federal government, not counting Social Security and Medicare commitments. This story sounds like a fantasy or a cartoon, but it’s totally backed up with facts you will never hear on the legacy media. Dr. Skidmore, who is an expert in public budgets, explains, “In my mind, it does not follow the principles laid out in our Constitution in accounting for revenues coming in and expenditures going out. It’s fraudulent in my mind.”
Why, just think, if we added two more zeroes to that figure, we'd be at 14 and a half quadrillion dollars, which is the amount of bad derivatives sloshing around in the system according to some estimates. Think of that: $14,500,000,000,000,000. That's more money than the entire gross domestic product of the planet by several multiples. Skidmore's comment is as follows:
Skidmore says, “The risks are really kind of unknowable. The derivatives market is so enormous and so complexed (sic.), and who knows if some of the money that we are not able to account for in the government books is pushing into a quadrillion dollar derivatives market? We don’t know that. It could be. It would be small potatoes in quadrillions (in the derivative market). It’s incomprehensible. . . . My gut tells me this ends awfully with a very abrupt disruption of some sort that could include a transition to some sort of new financial system, and potentially a much more draconian system.”
In short, says Skidmore, "we are in la la land."
Indeed we are. But need it necessarily end in "a much more draconian system?" In my opinion, only if we let it. The idea of a much more draconian system is only of benefit to the people who created this mess in the first place: the central banksters, the politicians, the too-big-to-fail, too-big-to-jail cartels. And we know what that "much more draconian system" looks like already, because they've told us: a "cashless" "digital 'currency'" society coupled to a social credit system, with lots of robots doing jobs humans used to do, and lots of "useless eaters" to be "taken care of" in the sense that the Emperor Palpatine said Darth Vader would "take care of" some of his former allies.
Rather, what we have, I suspect, is a two-tiered economy; at one level, the finance-crapitalists who make money by creating more of it. So long as they can create derivatives and other "financial instruments" and run the presses faster than the rate of inflation, they're happy, because inflation is always a mechanism for clawing wealth away from the middle class into the hands of the super-rich. They don't have to produce anything, just run the presses and come up with new ways to financialize everything; think of weather derivatives or (here's one already in use) "pandemic bonds". Remember that people made money, boatloads of it, during the inter-war period of hyper-inflation in Germany, precisely by speculating in German currency until Hjalmar Schacht put an end to it. (Remember him? Of "Where's the Reichsbank's gold" fame? Remember how he let off the New York Fed with a nod and a wink when it couldn't find Germany's gold? And remember how Schacht put an end to it, and reigned in the inflation, literally in almost a weekend by suspending the currency speculation and trading and allowing the Reichsmark to stabilize? In short, he turned against his own finance crapitalist class. And maybe it was his "nod and wink" to the NY Fed over that missing gold episode that got him such a light sentence at Nuremberg after WW2. But anyway, I digress... )
Then there's the real economy, the truck driver, the railroad, the manufacturer, and so on. I strongly suspect it's the disparity between the two - and the fact that my own hypothesized "hidden system of finance" has grown so enormous that is has swallowed the federal government and normal budgetary processes - that is behind the move of some states to create state bullion depositories and legislation recognizing bullion as legal tender. Hyper-inflation and hidden processes do no one any good: why trade a real automobile for blips on a computer screen that are losing value faster then the transaction can be completed? Answer, you don't. The customer leaves without a car, the car stays on the lot, the manufacturer doesn't move as many cars, and pretty soon the whole supply chain shuts down. Until more stable money comes along.
All because of Mr. Central Bankster and the philosophy of "making money by making money."
What I suspect, therefore, is that we will see the emergence of more and more such regional measures, and that, for a while, the moves toward centralization and de-centralization will co-exist, uneasily, for a period of time until people wake up and realize they no longer need Mr. Central Bankster and Mr. Globaloney. Why? Because trusting Mr. Central Bankster to create stable media of exchange is not in their job description.
See you on the flip side...