The Phaserl


The IMF Accuses Mozambique of Accounting Fraud… Um… So, What About The United States?!?!

by Jeff Nielson, Bullion Bulls:

The sad part of writing this post is that I know, simply from the title, that most of my audience won’t read it. “Who cares about Mozambique?”

But that’s not the real story here. The real story is who is NOT being accused of accounting fraud: the United States. Unfortunately, if I titled this post “IMF does NOT accuse U.S. of accounting fraud”, no one would read that, either.

The problem (for readers) is that there is a very important point here, the old cliche about how “people who live in glass houses shouldn’t throw stones.” The IMF, a U.S.-dominated puppet institution is accusing Mozambique of “hiding $1 billion in debt”. Granted, for an economy the size of Mozambique, this is a significant sum.

But look at the U.S. The United States has hidden $TRILLIONS of its own debts, via accounting fraud which is so transparent as to be pathetic, rather than merely laughable. How do Americans hide their debts? The U.S. government “borrows money” from itself.

:silly: :silly: :silly:

The accounting fraud goes like this. The U.S. needs another $trillion or so, to delay its inevitable bankruptcy. If it borrows that money externally, it has two problems. Every dollar it borrows is added to its OFFICIAL “national debt” (as opposed to the real national debt). Secondly, it has the additional problem today that no other nation will lend to the U.S. (at its fraudulent, fixed interest rate).

Instead, the U.S. “borrows from itself”. How? It looks around its books for any SAVINGS it possesses, which is generally in the form of assorted “trust funds”. Trust funds for what? For some of the most basic social programs, like U.S. Social Security.

Note that, by definition, the “trustee”(i.e. the U.S. government) is not allowed to touch those funds, with three exceptions:

a) It is making a specific, authorized payout from the trust, to the beneficiaries (i.e. the American people).
b) It obtains permission from the beneficiaries to withdraw a specific amount, after carefully explaining the reason for the request.
c) It simply declares that some sort of “financial emergency” forces the trustee to encroach upon the trust funds.

The U.S. government has never attempted either (b) or (c) with respect to the $trillions it has “borrowed” from these trust funds. We have a word for that: STEALING. What is the effect, in accounting terms, of all the $trillions which the U.S. government has stolenfrom these trust funds (from the people)?

When the government “borrows from itself” (an inherently fraudulent act) it is allowed to classify this “loan” — which will never be repaid — as a “liability”, and not an official debt. Thus the U.S. has an official “national debt” exceeding $19 trillion, but it has “total debts and liabilities” of more than $200 TRILLION. And (as just explained) many of the $trillions of so-called liabilities is just more debt, which the U.S. government has HIDDEN, just like Mozambique. Except the U.S. hides these $trillions in debt (not just a paltry $1 billion) through stealing from the piggy-banks of its own people.

U.S. Is “Totally Broke”: Federal Govt.’s Fiscal Gap Is $222 Trillion: Economist

So we have the “diligent” IMF (and Chief Prostitute, Christine LaGarde) uncovering $1 billion in accounting fraud, perpetrated by tiny, insignificant Mozambique. Meanwhile, we have this same entity being (supposedly) totally oblivious to repeated acts of accounting fraud, totaling $TRILLIONS, despite the fact that these obvious acts of fraud are totally out in the open, and committed by the “world’s only superpower.”

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4 comments to The IMF Accuses Mozambique of Accounting Fraud… Um… So, What About The United States?!?!

  • CalSailX

    Gentlemen read it all… Please!

  • Craig Escaped Detroit

    The Pot is calling the Kettle “Black”.

    It would be the same as a Kenyan Calling a Zimbabwean unfit to be the USA president.

    As the frauds get bigger and bigger, and MORE crazy, then the accusations and crazy stuff gets more ridiculous as the ending approaches.

    This feels like a whirlpool of craziness. My gut instinct is SO much on “Crazy Alert”, (WAY past “Red Alert”).

    We started at a slow, comfortable “Defcon” 4, then 3, 2, 1, and now it’s just “wild, screaming, “Bizzarro-BOZO-ona-Rocket-Rollercoaster” time.

    The world has NEVER seen SO many sitautions SO whacked out all at the same time in so many crazy ways.

    I gotta run to the store to buy MORE POPCORN. I have a feeling that ONE bag, box or jar of it is NOT going to be enough to get me through the fireworks that will be happening.

    • Sam

      Hey Craig Escaped Detroit,

      Speaking of “popcorn”… yeah, they do sell that in 50 pound heavy duty sacks but, my guess it’s mainly for the vendors and the like…can’t imagine anyone having that big of a GMO crave to buy it for his or her own popcorn popper – HA!

  • Sam

    They know very well of what they accuse, they have perfected the deception.

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