As US federal debt approaches $21 trillion in a matter of months, an eye-popping equivalent amount seems to have gone cumulatively missing from government coffers over the past two decades.
The missing $21 trillion was tabulated by a team of researchers led by Dr. Mark Skidmore, Morris Chair of State and Local Government and Policy at Michigan State University. Skidmore’s team tallied up “undocumentable adjustments” – a euphemism for accounting prestidigitations – at the US Department of Defense (DOD) and Department of Housing and Urban Development (HUD) between 1998 and 2015. The study was verified by no less authority than Catherine Austin Fitts whose mainstream credentials included a stint in the George H.W. Bush presidential administration.
The most shocking instance of such book-keeping legerdemain, amounting to a colossal $2.3 trillion, was admitted by then Secretary of Defence Donald Rumsfeld on the noteworthy date of September 10, 2001. Rumsfeld was very specific in identifying America’s adversary: It was “closer to home”; it was the “Pentagon bureaucracy.”
The September 11 terror attacks the very next day, however, consigned these trillions into a black hole of oblivion. Yet, the black hole kept accruing ominous mass over the years; readying itself for an event horizon that may suck in nations, stock markets, livelihoods and lives into a fatal vortex.
Several imponderables remain: Who controls this hidden stash? Has the US…