reSee.it Video Transcript AI Summary
In 1994, the New York Fed and the Federal Reserve bought shares in the Bank of International Settlements (BIS). The BIS is described as the central bank of central banks in Sweden/Switzerland, said to operate above the law, with sovereign immunity, the ability to receive and hold money secretly, and to keep money on its balance sheet secretly. The Fed’s purchase allegedly made their relationship with the BIS closer.
In 1995, a budget deal “crashed and burned,” and in October there was a claim from the president of the largest pension fund that “they, whoever they are, have given up on the country and moving all the money out starting in the fall.” It was around October 1997 that money purportedly began to go missing from HUD and the Department of Defense. The speaker asserts that from 1998 to 2015, $20,000,000,000,000 was missing from COD and $1,000,000,000,000 missing from HUD. With money going missing, the speaker describes the onset of the “great poisoning.”
The argument continues that the next month after the budget deal collapse, OxyContin was approved, HUD predatory lending began, pill mills started, and targeting of low-income neighborhoods intensified, with roundups from the private prison movement. The speaker notes undocumentable adjustments rising sharply. By 09:11, the speaker claims, a reporter had been covering missing money and a large spread was planned for Insight magazine about $3,300,000,000,000 missing, demanding accountability and identifying which private corporations and banks ran the payment systems. The story was expected to run on 09/15/2001.
On 09/10/2001, Donald Rumsfeld held a press conference at the Department of Defense stating that the DoD was missing $2.3 trillion (or $3 trillion, depending on version). The next day, 9/11 occurred. James Corbett later released a video, “Nine Eleven Trillions,” describing how offices blown up at the Pentagon and World Trade Center related to securities and financial operations connected to the missing money. The speaker asserts that the Pentagon office blown up housed the Office of Naval Intelligence Research Group investigating the missing money. The Patriot Act followed, DoD received large appropriations, and attention to missing money diminished.
Fast forward to 2015, the financials allegedly showed the greatest missing money in one year: the DoD was missing $6.5 trillion in that year. Dr. Mark Skidmore, a budgeting expert at Michigan State University, investigated, and, after reviewing DoD financials, confirmed substantial undocumentable adjustments. He contacted the speaker to help conduct a complete survey of all financial statements from fiscal 1997 to 2015. The survey yielded figures increasing from $12 trillion to $21 trillion missing. When Skidmore published his 2017 report (at missingmoney.solari.com), it was found that the amount missing from the U.S. Treasury matched the total outstanding debt of the United States on the books—$21 trillion.
Authorities reportedly pressed the DoD to produce audited financial statements; DoD refused. The Kavanaugh hearings are cited as the moment when the Federal Accounting Standards Advisory Board (FASB) Statement 56 was issued, allowing the government to keep books secret as a matter of administrative policy, extending to private companies and banks doing business with the government. The result, according to the speaker, is that much of the disclosure in the U.S. securities market is meaningless due to government secrecy.
The speaker notes that COVID-19 operations could not have happened without FASB 56, claiming it enabled access to unlimited secret money. A quoted anecdote is that one month after FASB 56 passed, Moderna reportedly raised $500,000,000.