Corporate fines and penalties awarded to the US government have surpassed $1 trillion since 2000. Despite the malfeasance, no one ever went to jail. No one was ‘sanctioned’. How much of the penalties were imposed as a Cartel fee, and how much were for egregious acts that should have resulted in prison? Where does the collected money go?
The US Treasury’s sub-agency General Fund is the depository for all penalties and fines awarded. Their last audit was in 2022 wherein the Auditors claimed they could not render an opinion because the management of funds was wholly and completely corrupted. For fiscal year 2022, the General Fund reported $23.2 trillion in inflows and $22.8 trillion in outflows. The Net Equity of the General Fund was ($32,080,601,000.000). The purpose of an audit is to determine if the reports issued by the Fund fairly represent the truth and can be verified via evidential tracing. The US Treasury Failed – and an additional 6 recommendations for compliance were issued.
The annual revenue from penalties is now over $60 billion annually. Although that number cannot be wholly verified given the Treasury has sloppy record keeping. In essence, the Treasury finances the government by issuing Debt. It does not balance the budget – instead it indebts the budget every single year. And according to their website – that is their purpose – issuing debt.
The Treasury utilizes a Treasury Borrowing Advisory Committee (TBAC), whose chair is Deirdre Dunn, Head of Global Rates - Citigroup Global Markets Inc. The Vice Chair is Mohit Mittal, Chief Investment Officer – PIMCO. Other members include officers from: Deutsche Bank, Morgan Stanley, BlackRock, NY Mellon, NY Common Retirement Fund, Fidelity, PNC Financial, Vanguard, Goldman, Bridgewater and Rokos Capital out of London. LONDON.
Deirdre Dunn’s bio includes a bachelor’s degree in ta-da...chemical engineering. She spent 10 years at Lehman – where she traded in residential and commercial mortgages. Lehman was trading US Treasuries and subprime mortgages that led to its filing for bankruptcy in 2008 – while Dunn was an active trader in those assets. This is who is RUNNING the US Treasury today. NOT the 78 year old Jewish school teacher, Janet Yellen. The Lehman crisis ultimately led to a US recession.
According to the Treasury, penalty and fee revenues are classified as “nonexchange revenues in the Statement of Operations and Changes in Net Assets". However, the 2022 unauditable financial statements for 2022 report no such revenue – at all. Skimmed off the TOP! Within this debacle of off-road accounting as advised by a chemical engineer, Social Security is accounted for as a Source of Revenue – as opposed to a Debt owed back to the payers. Which is why it is broke – there is literally No FUND At All. In essence – Social Security withheld is Taxpayer Charity to the government.
In contrast, Federal pensions are recorded as a Liability.
The Government Ponzi Scam. Where do the funds come from to PAY Social Security benefits? New Debt. In 2023, SS benefit payments amounted to $1.4 trillion. As of 2019, the federal government borrowed $2.9 trillion from the SS Fund at an interest rate of 2.85%... The Social Security Trust Fund is now a BANK. The Trust Fund isn’t an actual cash fund given the deposits are recorded as revenue – it is an actuarial. An algorithm. Monopoly money.
When our esteemed Congressional members warn Americans that Social Security’s coffers will be empty – they already are – yet these faithful politicians working For The People never consider their pensions at risk. According to Moody’s, the unfunded state and local liability of pension debt is now over $2.5 trillion. The number fell from a high of $6 trillion pre-pandemic.
The unfunded Pensions of the Federal Government are estimated to be upwards of $5 trillion – although the true number is unknown due to faulty accounting and reporting issues. CATO Institute: Total unfunded obligations of the US Government $73.2 trillion. This number includes SS, Medicare, Defense, Medicaid and other. The Medicare portion is more than double the SS portion of this projection.
If pharma actually cured people instead of subjecting people to a life of pills and misery, the Medicare portion would be very much alleviated. However, that would extend the actuarials of life expectancy and increase the SS unfunded liability. Therefore, death by pandemic is the ‘solution’. Death by war is another solution.
To make matters worse: the money coming in is invested in Treasuries earning the lowest rate of return. This is why Social Security cannot be pegged to real inflation, the funny number equation of 2% is used as the source of increases because reality would reveal the extent of the Ponzi Scheme.
Fixing this completely corrupt system of Taxation and Do Nothing would be a daunting task for the collage of Congressional Lawyers mooching off taxpayers and will never be accomplished. The vast majority of lawyers have zero proficiency in finance or economics. Not to mention a Chemical Engineer running our entire monetary system The US Treasury!
Eliminate the government and form a different type of body.
Interesting. Nice mafia scam