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Pentagon Fails Audit For The Sixth Time, Trillions Of Dollars “MISSING”!

The Pentagon has failed its yearly audit once again.

The Department of Defenses Chief Financial Officer has announced the Pentagon has failed its annual audit for the sixth time in a row.

Comptroller Mike McCord reported only seven out of the 29 individual sub-audits of the department passed this year.

The Hill reported close to 3.8 trillion dollars worth of assets are unaccounted for.

Secretary of Defense Lloyd Austin I repose to the failed audit added  a successful audit is still years away and added it “feels we need to be doing better at this and moving faster.”

Here’s what The Hill shared:

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The Pentagon has failed its annual audit for the sixth year in a row, according to the Defense Department’s chief financial officer.

Out of 29 individual sub-audits of the department, only seven passed this year, the same as the year prior, Comptroller Mike McCord told reporters Wednesday.

One other received a “qualified” rating — a step down from passing — while three are ongoing and 18 were given failing grades, with no fraud found, he said.
All sub-audits are required to pass for the overall audit to be approved.

McCord said that while “things are showing progress,” overall “it’s not enough.”

Secretary of Defense Lloyd Austin “feels we need to be doing better at this and moving faster,” but a successful audit is still years away, he added.

Federal law since the early 1990s requires mandatory audits for all government agencies. The Pentagon didn’t begin auditing itself until 2018 and has only had incremental improvement yearly.

Per The Intercept:

THE U.S. MILITARY appears unfazed in its inability to account for billions of dollars. On Thursday, the Department of Defense failed its sixth consecutive audit — but hailed its “incremental progress.”

As the Pentagon budget nears a watershed $1 trillion — the largest of any federal government agency — it has never passed a single one of the annual audits mandated by Congress. In a press briefing, the Department of Defense said it had no timeline for passing an audit.

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“We’ve heard the same platitudes about audit progress for years,” said Julia Gledhill, an analyst at the Project on Government Oversight’s Center for Defense Information. “They’re meaningless, especially since the Pentagon can’t even commit to a timeline for achieving a clean audit.”

“We’ve heard the same platitudes about audit progress for years. They’re meaningless.”

Former Pentagon comptroller Thomas Harker, now the secretary of the Navy, had publicly set a deadline of 2027 for a clean audit, but officials have since distanced the military from that timeframe. “Former comptroller Harker signaled 2027 back in 2020, but the department has completely rolled that back,” Gledhill said. “There’s no incentive to improve.”

Beginning in 2017, the audits are conducted by the Pentagon inspector general along with independent public accounting firms. The Defense Department is auditing $3.8 trillion in assets and $4 trillion in liabilities.

Here is our prior coverage when the Pentagon failed it’s FIFTH Audit last year:

🚨 Pentagon Fails Audit, Can’t Account For Missing $2.1 Trillion!

This is a major red alert!

The Pentagon has just failed its (fifth ever) audit and can’t account for 61% of its assets, which amounts to a missing $2.1 Trillion!

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Oopsies!

This is a red alert for two big reasons:

First, the obvious fact that $2.1 trillion of your tax payer dollars are GONE.

These people aren’t dumb…they didn’t just “lose” it.

This is what you get when you are laundering MASSIVE amounts of money.

How much of it went to Ukraine and then to FTX and then back to Democrats?

Most of it?

All of it?

Who knows…

The second reason is because the last time this happened was ONE DAY before 9/11 hit…and then the missing $2.3 trillion (back then) suddenly vanished from the news.

More on that in a minute.

First, take a look at this:

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Can anyone tell me why in the hell they need $2 billion per day???

Are you kidding me?

This is nuts:

Don’t buy the BS that this is “missing” or “lost”.

It was funneled.

The Pentagon/DOD has literally never passed an audit.

Never ever.

The Hill had more details:

The Defense Department has failed its fifth-ever audit, unable to account for more than half of its assets, but the effort is being viewed as a “teachable moment,” according to its chief financial officer.

After 1,600 auditors combed through DOD’s $3.5 trillion in assets and $3.7 trillion in liabilities, officials found that the department couldn’t account for about 61 percent of its assets, Pentagon Comptroller Mike McCord told reporters on Tuesday.

McCord said the department has made progress toward a “clean” audit in the past year, but later added “we failed to get an ‘A.’”

“I would not say that we flunked. The process is important for us to do, and it is making us get better. It is not making us get better as fast as we want,” he said.

This year’s outcome was not unexpected.

Federal law since the early 1990s requires mandatory audits for all government agencies, and since fiscal year 2013 all but the DOD have been able to satisfy that requirement.

The sheer size and scope of the department — which makes up for more than half of the U.S. discretionary spending and has assets that range from personnel and supplies to bases and weapons — makes it difficult to audit.

In December 2017, defense officials set out to scrutinize DOD’s books, the first comprehensive audit of the agency in its history. That effort failed the next year, and the four that followed.

The agency had never expected to pass, however, due to accounting issues officials said could take years to fix.

Because accounting records needed to complete the assessment were not available, all five audits received a “disclaimer of opinion,” though there have been improvements each time.

McCord, who served as Pentagon comptroller from 2009 to 2017 and again since June 2021, said the most recent audit required 220 in-person site visits and 750 virtual site visits by Pentagon officials and independent public accounting firm personnel.

What they found were several new weaknesses in how DOD accounted for its assets, which include nearly 2.9 million military personnel; equipment and weapons including 19,700 aircraft and more than 290 ships; and physical items including buildings, roads and fences on 4,860 sites worldwide.

To break up the work, the department holds 27 separate, smaller audits and then combines the information to get the bigger picture and prevent “having something on a record that doesn’t exist in reality or having big discrepancies.”

McCord said that while he prefers to focus on the progress in this year’s audit, each time “the progress is getting a little harder” due to “much of the lower hanging fruit having been picked,” meaning the simpler issues have already been weeded out.

Now let’s take a walk down memory lane to remember the last time this happened…

September 10, 2001 and we go to good old Rumy:

NEVER FORGET: Donald Rumsfeld On The Day Before 9/11: “We Can’t Account For a Missing $2.3 Trillion…”

Never Forget…

Never Forget Building 7, which I just wrote about.

And Never Forget what Donald Rumsfeld said the DAY BEFORE the tragic events.

Have you heard about this before?

Maybe not.

Literally just one day before 9/11/01, Donald Rumsfeld went on TV and announced that we just couldn’t account for a missing $2.3 trillion.

Awwww shucks!

Rumsfeld and GWB just couldn’t figure out where it all went!

Perhaps if all the records would also disappear, then it wouldn’t be such a big deal?

Now where do you suppose the records were stored….?

I’ll let you figure that one out.

Watch the clip safely here on Rumble:

Backups here:

https://twitter.com/HolmesThady/status/1568953859749330944

And here:

https://twitter.com/MarketeerMa/status/1568740323786117121

Just more coincidences:

Awwww shucks, maybe we shipped it on pallets to Iran?

Who the hell knows!

https://twitter.com/RSulliv15348672/status/1568800575592038401

Or this:

https://twitter.com/YellowstoneRan1/status/1569025627822641152

So many questions:

FYI, just how large this is:

The ultimate question:

Want more?

Let’s keep going…

CONFIRMED: Thermite Used In 9/11, Controlled Demolition?

They said “Never Forget”.

And we won’t.

Nearly 20 years after 9/11/01, the truth has yet to fully come out.

But we are not going to let it be forgotten.

We are not going to let it be swept under the rug of history.

But what are we “not forgetting”?

Let’s investigate….

Today we are examining whether Thermite was used.

Thermite is a mixture of aluminum powder and a metal oxide (such as iron oxide) that when ignited evolves a great deal of heat and is used in welding and in incendiary bombs.

It melts things like steel at temperatures much higher than any other fire or bomb could do.

In short, you remember the way the Twin Towers came down at free fall speed?

Many believe that is ONLY possible if it were lined with Thermite.

And here’s more proof….from the The Open Chemical Physics Journal, 2009, 2, 7-31, here is a deep dive of highly researched scientific findings.

Their conclusion?

The building was LOADED with thermite:

Active Thermitic Material Discovered in Dust from the 9/11 World Trade Center Catastrophe

And for the visual learners out there, I have this….

This video that tells you a whole lot more….watch it safely here on Rumble:

And that’s not all.

Never forget that Donald Trump himself was the first person to say he did not believe even a plane could take down those towers.

He knows construction and he knew how those buildings were constructed.

In short?  He says completely impossible.

Read this from Health Nut News:

Donald Trump is a professional builder. He’s spent much of his career in construction, building casinos and restaurants, and his opinion on the way the World Trade Centers came down is that of educated observation.

According to Rick Shaddock, Executive Director of the Association for Nine Eleven Truth Awareness, “Donald Trump was the first 9/11 Truther to speak out on TV, on the very same day, challenging the official story, and saying bombs must have been used, years before Architects & Engineers for 9/11 Truth was founded, from the perspective of people who know buildings are built to stand strong, even against planes.”

Indeed, Donald did call out the situation, claiming the immense strength of the steel beams and that the damage done must have been caused by explosives of some sort.

He also seemed to think that something other than the plane must have penetrated the building initially (which may or may not have been the case).

Of course, since his public exclamation, Architects and Engineers for 9/11 Truth have laid out a convincing argument that explosives likely lined the inside of the building, enabling a controlled demolition. This, in their opinion, is the only way anyone could have gotten the buildings to fall straight down, in free-fall, like they did.

Here is the transcript from the video:

Alan Marcus: Donald you’re probably the best-known builder particularly of great buildings in the city. There’s a great deal of question about whether or not the damage and and the ultimate destruction of the buildings was caused by the airplanes by architectural defect or possibly by bombs or more after shocks you have any thoughts on that?

Donald Trump: It wasn’t architectural defect. The World Trade Center was always known as a very very strong building. Don’t forget that took a big bomb in the basement (1993). Now, the basement is the most vulnerable place because that’s your foundation and it withstood that and I got to see that area about three or four days after took place because one of my structural engineers actually took me for a tour because he did the building and I said “I can’t believe it”. The the building was standing solid and half of the columns were blown out. This was an unbelievably powerful building. If you don’t know anything about structure it was one of the first buildings that was built from the outside. The steel, the reason the World Trade Center had such narrow windows is that in between all the windows, you had the steel on the outside, the steel on the outside of the building.

That’s why when I first looked – and you had these big heavy i-beams. When I first looked at it, I couldn’t believe it, because there was a hole in the steel and this is steel that was, you remember the width of the windows of the World Trade Center folks. I think you know if you were ever up there, they were quite narrow and in between was this heavy steel. I said how could a plane, even a plane, even a 767 or 747 or whatever it might have been, how could it possibly go through this steel? I happen to think that they had not only a plane but they had bombs that exploded almost simultaneously, because I just can’t imagine anything being able to go through that wall. Most buildings are built with the steel on the inside around the elevator shaft. This one was built from the outside which is the strongest structure you can have and it was almost just like a can of soup

Rolland Smith: You know, Donald we were looking at pictures all morning long of that plane coming into building number two and when you see that approach the far side and and all of a sudden within a matter of milliseconds the explosion pops out the other side.

Donald Trump: Right. I just think that there was a plane with more than just fuel. I think obviously they were very big planes. They were going very rapidly, because I was also watching where the plane seemed to be not only going fast it seems to be coming down into the building. So is getting the speed from going down hill so to speak. It just seemed to me that to do that kind of destruction is even more than a big plane because you’re talking about talking about steel, the heaviest caliber steel that was used on the building. These buildings were rock-solid and you know it’s just an amazing amazing thing. This country is different today and it’s going to be different than it ever was for many years to come.

Now watch the video.

Here is Donald Trump back in 2001 explaining what he saw and what he believes.

Watch here on Rumble:

If you want more, please go to these resources:

Understanding The Use Of Thermite On 9-11

Theories that Aluminothermic Materials Were Used to Destroy the Twin Towers

9/11 – Who Put Thermite In The World Trade Center?

Is this where all the Pentagon money keeps going?

To Ukraine?

For Money Laundering?

UKRAINE BOMBSHELL: “Give Us Loans, We Will Pay You Back!”

Well, this is “rich”….

And as you know, I don’t like to use the word “Bombshell” very often, but this is one case where it’s merited.

I’ll explain why down below the video I’m about to show you….

Zelensky is now begging the U.S. for loans.

Quote: “If you can’t give us financial support, give us credit and we will give you back money!”

Watch here:

And for those who are saying it’s fake (you never know these days), it’s not.

It coms directly from a full video posted by NBC News:

Credit to anyone who actually sat through listening to this coke head stumble his way through this interview.

I watched less than a minute and could barely take it.

But the relevant part comes just after the 29:00 minute mark of this video posted by NBC News:

But here’s the part I find the most interesting….the Bombshell that almost no one is talking about.

Are you REALLY telling me that all the money we sent over, all the billions upon billions of dollars, was just a GIFT?

You can’t be serious, it was just given away?

It wasn’t a loan?

Even an interest free loan?

We didn’t get any promises to get the money back after the war?

ARE YOU FREAKING KIDDING ME?

I do believe that every time the USA fought a war, if it received money from other countries it was in the form of DEBT!

ChatGPT confirms:

Revolutionary War (1775–1783)

  • French Assistance: The U.S. incurred its first significant foreign debt during the Revolutionary War when it borrowed money from France, Spain, and the Dutch Republic to finance the war effort against Britain. France provided not only military assistance but also crucial financial support. The debt to France and other countries accumulated as the new nation sought to gain independence.

19th Century

  • War of 1812: The U.S. took on more debt during the War of 1812 as it faced Great Britain once again. However, this debt was largely managed through domestic means rather than relying heavily on foreign creditors.

World War I (1914–1918)

  • Liberty Bonds: During World War I, the United States began borrowing extensively to finance the war effort. Although the U.S. initially remained neutral, it provided loans to the Allies before entering the war in 1917. After entering the war, the U.S. issued Liberty Bonds to cover the costs.

Interwar Period

  • Repayment and Lending: In the interwar period, the U.S. was a creditor nation, with many European countries owing substantial debts from WWI. The roles reversed somewhat after the Great Depression, with the U.S. borrowing to stabilize its economy and later to ramp up for the possibility of another global conflict.

World War II (1939–1945)

  • War Bonds and The New Deal: The cost of World War II was immense, and the U.S. financed it by issuing war bonds and increasing taxes. The New Deal programs had already increased the national debt, but the war efforts required even more borrowing.

Post-World War II and Cold War Era

  • Marshall Plan and Global Leadership: After WWII, the U.S. emerged as a global superpower and began to spend heavily on programs like the Marshall Plan to rebuild Europe. Although this was more about giving aid than borrowing, it set the stage for a global economic system where the U.S. dollar became the world’s reserve currency, leading to complex financial interdependencies with other nations.

Late 20th Century to Present

  • Ongoing Borrowing: The United States has continued to borrow for various reasons, including military engagements, economic stimulus packages, and to finance budget deficits. It has issued government securities, such as Treasury bonds, bills, and notes, that are purchased by both domestic and foreign investors. This is where the current foreign-held debt originates.

So let me see if I have this right….

When WE save the world, we have to pay all the money back.

When Ukraine begs for money, we gave it away as a GIFT?

This is beyond criminal negligence of our elected leaders!

THIS IS TREASON!

It makes no sense, unless……unless it was all part of a very carefully crafted Money Laundering Scheme?

Hmmmmm.

I’ve seen Ozark….you can’t really repay the debt if you’re trying to launder the money.

Is that what all this has been about since Day 1?

Of course, we’ve reported on that extensively and once again our reporting appears to have been DEAD ON accurate:

FTX Money Laundering Scheme To Ukraine CONFIRMED?

Buckle up folks!

I have a MAJOR update on a story we first brought you back in the Fall of 2022.

“Fall” is appropriate because that’s when crypto firm FTX had its massive fall from grace.

And now just this week it looks like we may have confirmation that our reporting back in 2022 was 100% accurate.

Imagine that.

Let me back up for just a minute in case we have people who are new to this story or who need a refresher.

I’ll publish our full reporting from 2022 down below but here’s the quick recap…

This image explains it perfectly:

You pay taxes…

Taxes out the ears!

Then the US Government takes your tax dollars and sends billions upon billions over to Ukraine…

Ukraine then invested a big chunk of that money in FTX (that’s called money laundering)…

FTX donates huge amounts back to the Democrat party…

The Democrats then use that money to buy, influence and steal elections.

What a great system!

And if you think that’s just crazy Noah coming up with a crazy conspiracy theory, it’s not.

Here is Elon Musk exposing it too:

NOW does it make sense why billions of your tax dollars are going to Ukraine every month?

You didn’t honestly think we were just giving it all away, did you?

Of course not!

It’s a complex money laundering operation!

Ok, now here’s the update.

Prepare to have your mind blown.

This is truly “hidden in plain sight”.

So we start here with the understanding that after FTX collapsed it owed customers about $8.7 BILLION:

Ok, you with me so far?

FTX is in the hole $8.7 BILLY.

But remember, FTX was a key player in the money laundering operation, so they have to be made whole.

Then this happens:

Remember that from last week?

The Pentagon “accidentally” sent Ukraine $6.2 billion dollars!

So, uh, when you accidentally send $6.2 billy, do you call and get a refund or something?

Of course that’s an EXTRA $6.2 billion on top of the billions we are sending weekly:

Really gotta hate those “accounting errors” don’t you?

Is anyone REALLY that bad at their job that they “accidentally” send $6.2 billion where they aren’t supposed to?

Not even people in Government are that inept.

Folks, it’s CORRUPTION, not “mistakes”.

Ok, now stay with me because here’s the final piece…

To recap:

FTX needs $8.7 Billion…

$6.2 Billion “accidentally” gets sent to the wrong place…

Now here it is:

FTX suddenly “recovers” $7 billion!

Wow, it’s a miracle!

Just how DUMB do they think we are?

You kidding me with this?

We see right through it, and so do others:

IT’S MONEY LAUNDERING FOLKS!

Can’t get much more clear than this!

Are you awake?

Are you paying attention?

They are laughing at you and stealing BILLIONS of your dollars as they do it!

Oh, and a TON of politicians are caught in the middle too.

You didn’t think this story went away did you?

I believe when all of this is exposed it will be a major factor in clearing out Washington.

Take a look:

MAJOR Republican RINOs Caught In FTX Donation Scandal…

We’re going to name names…

If you’ve been following this Sam Bankman-Fried / FTX scandal, you know this is big.

In fact, it’s looking like Biden, Ukraine, Crypto and Pedos….are all possibly connected.

More on that at the end of this article — jump down there first if you don’t know anything about this story and need to get caught up to speed first.

We already knew Biden and many top Dems were ensnarled in this thing, and the crooked MSM is doing everything they can to give them cover.

But here’s what’s also been ignored: it’s not just the Democrats.

I’ve been telling you for 7 years now, it’s NEVER been about Republican vs. Democrat.

That’s a fake dichotomy designed to keep you distracted.

R’s and D’s are mostly on the same team.

In fact, I estimate there are maybe 10-20 honest people left in the entire D.C. system.

One is Trump.

Another is Kari Lake.

And there are probably no more than 20 others — if that many.

Everyone else, whether they’ve got an (R) or a (D) in front of their name is all crooked and sold out.

So sad to see what they’ve done to our country.

Let’s get into the details…

According to Bloomberg, McConnell took $1 million:

From Bloomberg, here’s more:

FTX US, a part of Sam Bankman-Fried’s crypto empire that catered to American customers, contributed to a super-PAC fighting for control of the Senate in the midterm election just days before the company’s collapse.

The Senate Leadership Fund, which is aligned with Senate Republican Leader Mitch McConnell and was the top spender in the 2022 midterms, received the $1 million donation on Oct. 27, according to its most recent filing with the Federal Election Commission. Only a couple of weeks later, more than a 100 FTX-related companies, including the US arm, filed for bankruptcy, and Bankman-Fried resigned as head of the corporate group.

The contributor listed on the FEC donation report is West Realm Shires Services Inc. and FTX US is its commercial name.

The Senate Leadership Fund did not immediately respond to a request for comment. The super-PAC spent $239 million in the midterms on behalf of Republican candidates, according to OpenSecrets, which tracks money in politics.

While several members of Congress, including Illinois Senator Richard Durbin, a Democrat, and Republican Representative Kevin Hern of Oklahoma have said they would return donations from FTX executives or give the money to charities, there isn’t a requirement in election law for committees to return donations to companies that go bankrupt.

FTX US also gave $750,000 to the Congressional Leadership Fund and $150,000 to the American Patriots PAC, both of which supported House Republican candidates. It gave $100,000 to the Alabama Conservatives Fund, which backed Republican Katie Britt’s successful run for the state’s open Senate seat.

Individual executives at the broader FTX company have given far more money. Bankman-Fried emerged as major donor to Democratic candidates leading up to the Nov. 8 midterm elections, donating most of the $39.4 million that he gave to them, FEC records show. One of his top lieutenants, Ryan Salame, gave $23.6 million — mostly to Republicans.

We always knew Mitch was a snake, didn’t we?

A rich snake.

According to a popular report circulating Twitter, here is the FULL LIST:

We have not been able to independently verify every name on this list, and to be fair we also note that candidates are rarely aware of every person or entity that makes a donation to their campaign — but that said, you might want to write down these names and remember them.

Kari Lake says the corruption is SO DEEP and SO WICKED it will blow your mind:

Here is just a portion of the article Kari Lake posted…from Revolver read the full story here:

Just days ago, Bloomberg estimated 30-year-old Sam Bankman-Fried’s (SBF) personal wealth at an astonishing $16 billion. Now, the disgraced FTX founder is essentially bankrupt, and if there is a shred of justice in the world, soon headed for prison.

The collapse of FTX and its founder is one of the most spectacular implosions in history. There is no shortage of narratives to mine for interesting article fodder. Celebrities like Tom Brady and his now ex-wife Gisele lost millions to the scam. There’s the Silicon Valley “smart money” that was hopelessly entranced by a wunderkind founder. SBF also used his ill-begotten lucre to become one of the largest donors in left-wing politics of the past four years. There’s also the FTX pet philosophy of “effective altruism,” the cult-like fad ideology of contemporary Silicon Valley that SBF exploited to conduct his fraud and justify taking enormous risks. And who can forget the 28-year-old girlboss CEO of Alameda Research Caroline Ellison, who bragged that her vast financial empire only requires “elementary school math” to turn profits, and whose public list of turn-ons includes “controlling major world governments.”

Last but not least, there’s the group sex (don’t worry, everyone involved in this “polycule” situation is hideous).

All of these storylines are being regurgitated ad nauseum by countless other media outlets. The story that Revolver is about to tell you is even bigger and more spectacular than all the other fascinating storylines listed above. In fact, dear reader, FTX may not even be the biggest scam in crypto. Another, even more spectacular scam may still be live, ready to collapse at any moment… if anyone decides to take a real look at it.

The story you’re about to hear concerns the third-largest crypto-currency on the planet, which you’ve probably never heard of. It is a story of how a former Disney child-actor — a Jeffrey Epstein associate who was embroiled in an under-age sex scandal — bizarrely emerged as one of the world’s strangest crypto-currency moguls. It is the story that raises serious questions as to whether an entire cryptocurrency is a scam — effectively a private money-printer. And to top it all off, there is reason to believe that if this cryptocurrency is the scam that it appears to be, it will nonetheless be allowed to continue because of this particular cryptocurrency’s usefulness to intelligence agencies in funneling money to foreign rebel groups and jihadis with plausible deniability.

Sound crazy? Sound interesting? Strap in, it’s about to get wild.

USDT, or Tether, is what is known as a “stablecoin.” A stablecoin is a cryptocurrency that, instead of fluctuating in value, is intended to hold to a consistent price. Tether is a USD stablecoin — each Tether is supposed to be equal in value to one U.S. dollar. While most cryptocurrencies are wildly speculative and backed by essentially nothing, each Tether is supposed to be backed directly by a U.S. dollar, or an extremely liquid, reliable investment like a U.S. treasury bond.

These USD stablecoins are used on cryptocurrency exchanges to conduct on-the-blockchain trades in lieu of using actual U.S. dollars. Without stablecoins like Tether, the current crypto ecosystem simply would not exist. There are multiple USD stablecoins, but Tether is by far the most popular. According to coinmarketcap.com, Tether has the third highest market cap of any crypto currency at $66 billion, trailing only Bitcoin and Ethereum. Today, fully half of all bitcoin trades globally are executed using Tether.

A year ago, crypto news site Protos summarized Tether this way:

If cryptocurrency was an engine, Tether (USDT) is one of its pistons.

Over the past seven years, the maverick stablecoin has evolved into a primary crutch for the ecosystem. It’s a tool for onboarding new money, managing and growing liquidity, pricing digital assets, and generally oiling crypto markets to keep them smooth.

Tether boasted a $1 billion market capitalization when Bitcoin hit $20,000 at the end of 2017. This year, it’s a $70 billion-plus powerhouse.

Practically every crypto exchange supports USDT trade in some form. The makeup of Tether’s reserves and its inner workings are yet to be disclosed in clear detail.

Still, the question of who exactly buys Tether directly from its parent company Bitfinex has remained unanswered since its inception way back in 2014.

Earlier this year, Protos shed light on that mystery by reporting that just two companies, Alameda Research and Cumberland Global, were responsible for seeping roughly two-thirds of all Tether into the crypto ecosystem.

Did that last sentence set off any alarm bells? It should have. Alameda Research is the quantitative trading firm founded by Sam Bankman-Fried. Bankman-Fried and his partner in crime, Alameda CEO Caroline Ellison, allegedly propped up their trading firm by plundering FTX customer accounts.

The inner workings of Tether remain remarkably opaque.

New Tethers are supposed to only be minted, and added to the crypto ecosystem, when somebody gives Tether Limited dollars to create them. And if that’s how it all worked, Tether would be fine.

But there is no evidence Tether actually works this way. We repeat: There is no proof that Tether stablecoins are backed by the store of tangible assets that is supposed to justify their value.

Despite first being released eight years ago, Tether has never been audited in any way. It first promised an audit in 2017…to, you know, happen eventually. How is that coming along? As reported by the WSJ, “Tether Says Audit Is Still Months Away as Crypto Market Falters”:
…
Tether is designed to grease the rails of the roughly $1 trillion cryptocurrency market by promising each token can be redeemed for $1. Market observers have long questioned whether the firm’s reserves are sufficient and have been demanding audited information.

The company has been promising an audit since at least 2017. An audit is “likely months” away, said Paolo Ardoino, chief technology officer of Tether Holdings Ltd., which issues the tether coin that recently carried a market value of $68 billion.

“Things are going slower than…we would like,” Mr. Ardoino said.

Instead of a full audit, Tether, like other leading stablecoins, publishes an “attestation” showing a snapshot of its reserves and liabilities, signed off by its accounting firm.

Audits are typically more thorough than other types of attestation. The attestations for some crypto companies sign off on the numbers provided by the company’s management for a specific date and time without testing the transactions before or after that date. That process can make the reports more vulnerable to being used to paint an unduly rosy picture.

A 2017 attestation of Tether was skewed by its sister company, Bitfinex, transferring $382 million to its bank account, hours before the accountants checked the numbers, the Commodity Futures Trading Commission said last year.

Take a moment to register that: In 2017, when Tether’s total market cap was still under $1 billion, it needed a last-minute transfer of $382 million just to sly its way through a non-audit attestation of its assets. This is ominously reminiscent of the accounting trick used by borrowers to obtain so-called “liar loans” in the run-up to the 2008 subprime mortgage crash.

That 2017 attestation, incidentally, led the Commodity Futures Trading Commission to fine Tether $41 million last year, without the company admitting any wrongdoing. Tether also paid an $18.5 million fine to New York state to settle claims that it misrepresented its reserves. The settlement forced Tether and its associated Bitfinex exchange to cease operations in New York. Crucially, though, none of these fines have fully exposed how Tether works, forced it to change its methods, or even compelled it to admit wrongdoing. Tether essentially made a political payoff, it seems, and moved on.

You know things are fishy when even legendary scammer Jordan Belfort calls you out:

It’s important to state what is happening if Tether is not actually backed by the dollars that it claims. If Tether Limited is pumping out new Tethers without actually taking in an equal amount of USD, then it is essentially a privately-run money printer.

Just manufacture new Tethers, pump them into a crypto exchange, use them to buy bitcoin, then sell the bitcoin for real U.S. dollars.

That would be, in the words of Dire Straits, “Money For Nothing”:

To avoid a Dire Straits situation, in other words, the whole system must place its faith in the unaudited pinky promise of Tether’s management team. So, what remarkable financier is behind this arrangement? What person of impeccable morals is helming Tether such that it commands so much importance in the global crypto ecosystem despite doing so little to merit confidence?

Say, anybody remember the Mighty Ducks movies?

Or how about the Sinbad movie First Kid? Anybody ever catch that on The Disney Channel back in the day?

Meet Brock Pierce.

In the early 90s, Pierce enjoyed a brief career as a child actor. But before even reaching legal adulthood, Pierce pivoted into a new career, which soon ended bizarrely:
In the trailer for First Kid, the forgettable 1996 comedy about a Secret Service agent assigned to protect the president’s son, the title character, played by a teenage Brock Pierce, describes himself as “definitely the most powerful kid in the universe.” Now, the former child star is running to be the most powerful man in the world, as an Independent candidate for President of the United States.
Before First Kid, the Minnesota-born actor secured roles in a series of PG-rated comedies, playing a young Emilio Estevez in The Mighty Ducks, before graduating to smaller parts in movies like Problem Child 3: Junior in Love. When his screen time shrunk, Pierce retired from acting for a real executive role: co-founding the video production start-up Digital Entertainment Network (DEN) alongside businessman Marc Collins-Rector. At age 17, Pierce served as its vice president, taking in a base salary of $250,000.

DEN became “the poster child for dot-com excesses,” raising more than $60 million in seed investments and plotting a $75 million IPO. But it turned into a shorthand for something else when, in October of 1999, the three co-founders suddenly resigned. That month, a New Jersey man filed a lawsuit alleging Collins-Rector had molested him for three years beginning when he was 13 years old. The following summer, three former DEN employees filed a sexual-abuse lawsuit against Pierce, Collins-Rector, and their third co-founder, Chad Shackley. The plaintiffs later dropped their case against Pierce (he made a payment of $21,600 to one of their lawyers) and Shackley. But after a federal grand jury indicted Collins-Rector on criminal charges in 2000, the DEN founders left the country. When Interpol arrested them in 2002, they said they had confiscated “guns, machetes, and child pornography” from the trio’s beach villa in Spain.

Pierce managed to get out of his Interpol jam that without being charged, and his strange path through life continued.

“Wait, is there somehow an Epstein connection here?” you might be wondering. Oh, you bet there is an Epstein connection here.

In early 2011, about a decade after the Digital Entertainment Network imploded, [Brock] Pierce visited the Virgin Islands to attend “Mindshift,” a conference of top scientists hosted by Epstein. A representative for Pierce says he didn’t even know who Epstein was when he flew (commercial) to the event, which the financier had arranged as part of his elaborate effort to launder his lurid reputation. It was not even 18 months after Epstein had completed his slap-on-the-wrist solicitation sentence in Florida and registered as a sex offender.
…
Nothing suggests that anything of a sexual nature or anything untoward at all occurred at Mindshift. Pierce is only one of dozens of figures in Epstein’s dizzyingly vast network, and the link between the two may be nothing but a curiosity. But it is a strange tale: how a former child actor who never went to college ended up as an Epstein guest — a seemingly unlikely addition to a group that included a NASA computer engineer, an MIT professor of electrical engineering and a Nobel laureate in theoretical physics. “I don’t know what he had to do with science [or] why he was there,” says one person who attended.

So, we have the world’s third largest crypto currency, a stablecoin that has never been audited, founded by a washed up former child actor involved in a sex scandal with underaged minors that quietly dissipated without charges, who has prospered in crypto despite zero technical background, and who maintained a hard-to-explain connection to Jeffrey Epstein. But hey, Pierce says he hasn’t actually been involved with Tether since 2015. And maybe Pierce was just the “celebrity” face of the venture, and the other leaders have more legitimate background.

Tether’s CEO is Jean-Louis van der Velde:

The chief executive of Tether ran a company that faced a string of lawsuits in China over unpaid bills and fines for late tax payments before he helped launch the contentious stablecoin now at the heart of the crypto industry.
As crypto has moved from finance’s fringes to its mainstream, investors have increasingly relied on stablecoins, digital tokens backed by real-world assets, as a means to buy and sell volatile currencies such as bitcoin.
But as Tether’s role in the crypto universe has mushroomed since it was founded in 2014, with $78bn of its stablecoins now in circulation, so has scrutiny from regulators. The company’s rapid rise has also turned the spotlight on publicity-shy chief executive Jean-Louis van der Velde.

The 58-year-old Dutch native’s career, spanning IT sales in Hong Kong, Germany’s software industry and an ailing Chinese electronics manufacturer, gave few hints of the significant role he would later assume.
…
While US politicians race to gather more information on Tether, even some of the group’s biggest customers say they have had few dealings with its chief executive.
Sam Bankman-Fried, the chief executive of FTX, the Hong Kong-based cryptocurrency exchange recently valued at $25bn, told the Financial Times earlier this year that he had only met van der Velde once in person.

“My sense is that he’s less involved in the external operations aspect of the business and more involved in internal management and leadership,” Bankman-Fried said. Another cryptocurrency executive who has had dealings with Tether’s management put it more bluntly: “I don’t know a lot about JL and most people don’t.”

Folks, I’ve been telling you that one day very soon EVERYTHING is going to come out.

The whole crooked and sick system is going to come crashing down on itself.

Can you see how that might happen now?

For years, people thought that would be impossible.

But when you build scam upon scam upon scam, and filth upon filth upon filth, well…sometimes it collapses under its own weight.

And the result is going to be glorious!

It feels like we are very close.

How many people does this take down?

Everyone except those 10-20 honest people in D.C.?

It’s very likely.

Here’s more from Kari Lake:

Here’s more from Tucker, explaining how the scam worked:

More:

Are these 8 in deep?

Mitch is in this up to his eyeballs:

More here:

And here:

Now, if you want more of the background here, keep reading…

I’ll connect all the dots for you:

EXPOSED IN 90 SECONDS: Biden, Ukraine, Crypto and Pedos….All Connected?

I don’t like to use hyperbole too often because then you become the boy who cried wolf and people don’t listen to you as much.

So I’m careful with headlines like this, and I wrote this one intentionally because I believe it is true.

Folks, this is the big one, and it may just be the thing that ends up taking down not only Joe Biden but the entire crooked Democrat party.

Let me explain…

You’ve probably heard about a company called FTX recently and its “founder” Sam Bankman-Fried, who goes by “SBF”.

If you’ve found the story confusing or too hard to follow, let me explain it really simply, because it is simple.

SBF appears to be a Government spook (or “Useful Idiot”, we’re not sure which yet).

But what is clear is the guy is mostly a complete bumbling idiot, and yet somehow rose to control billions, running one of the largest crypto exchanges out there.

Remember those Super Bowl ads with Tom Brady and Larry David?

That was FTX.

It rose up out of almost nowhere to suddenly be this behemoth.

What we’re now learning is the whole thing was perhaps a full ponzi, perhaps just a fraud, perhaps just a total fake, but definitely it was not a real mega-company.

So last week, FTX suddenly shocks everyone and goes bankrupt with no warning.

The crypto market tanked, huge crash.

Bo Polny actually predicted the entire thing, more on that below…

But now as we’re putting together the pieces and digging through the wreckage, we’re learning this might have actually been the biggest money laundering operation of all time.

Remember all those BILLIONS upon BILLIONS that were going to Ukraine?

What if they were being laundered?

I mean, we all suspected it all along, right?

We just didn’t know how the con worked.

Now we’re learning, or at least we’re starting to connect the dots.

We’re still in the early stages here and I want to be clear we’re still seeing in a room dimly lit, so this is still speculation at this point, but the puzzle pieces are all starting to fit together.

Here’s basically how it went…

The U.S. takes billions upon billions of taxpayer dollars and funnels those over to Ukraine.

Ukraine then puts those billions into FTX (remember, it appears to not be a real company, more like a government plant).

FTX is owned by Sam Bankman-Fried.

SBF then takes the billions and donates them back to the Democrat party.

This part is not speculation: SBF was the #2 largest donor to the Democrats right behind George Soros.

The Democrat party then funnels the money to people like Joe Biden (10% for the Big Guy!) and uses it to buy seats, errrrrrrrr, I mean run elections, in all states at all levels.

End results?

Key Democrats end up with millions…

Races are stolen, errrrrrrrr “won”…

And Americans are SREWED.

If this all ends up being true or even partially true, I just have one question: Is this treason?

For all the visual learners out there, Kim Dotcom explains it very simply like this:

Think it’s just a kooky conspiracy theory by Noah?

Think again.

Here is Elon Musk exposing it:

More from Elon here:

Poso is on it too:

Everyone is waking up and connecting the dots:

More from Poso:

Money Laundering 101 it looks like:

Here is the Daily Caller:

Sam Bankman-Fried, prolific Democratic donor and ex-CEO of now-bankrupt cryptocurrency exchange FTX, funded the campaigns of members of Congress overseeing the Commodity Futures Trading Commission (CFTC), one of the key bodies tasked with regulating the crypto industry and the subject of Bankman-Fried’s aggressive lobbying.

Bankman-Fried’s FTX is currently under investigation by the CFTC and the Securities and Exchange Commission (SEC) after Bankman-Fried allegedly moved $10 billion in client assets from his crypto exchange to his trading firm Alameda Research, and a liquidity crisis at his  exchange which prompted the company to file for bankruptcy. However, prior to the agency’s probe, Bankman-Fried aggressively courted the CFTC – and funded several key lawmakers charged with overseeing the agency, pouring cash into their campaign coffers.

Here is InfoWars:

The spectacular meltdown of the FTX crypto exchange has revealed it to be nothing more than a slush fund for Democrat candidates.

Sam Bankman-Fried stepped down as FTX CEO on Friday after it was announced his exchange had filed for Chapter 11 bankruptcy in the face of a multi-billion dollar liquidity crunch.

On midterm election day, Bankman-Fried managed to lose nearly 94% of his estimated $15.6 billion fortune.

The U.S. branch of FTX is now valued at $1, down from a peak of $8 billion in January. Bankman-Fried is now also under investigation by both the Department of Justice and U.S. Securities and Exchange Commission.

Prior to the midterms, Bankman-Fried was touted by POLITICO as the Democrats’ “newest megadonor” and “potential Democrat savior” second only to billionaire globalist George Soros.

“We’ve never seen something like this on this scale,” said Bradley Beychok, co-founder of American Bridge 21st Century, a Democratic super PAC. “On our side, there’s a small pool of people who write these kinds of checks and they tend to be the same folks. But Sam, to his credit, came right in with a big splash.”

In fact, Bankman-Fried spent almost $40 million on Democrat candidates this year.

From Fortune:

The 30-year-old Bankman-Fried has been a major force in Democratic politics, ranking as the party’s second-biggest individual donor in the 2021–2022 election cycle, according to Open Secrets, with donations totaling $39.8 million. That ranks only behind George Soros (about $128 million) but ahead of many other big names, including Michael Bloomberg ($28.3 million). What’s more, he had promised to spend far more on Democrats moving forward, predicting in May that he’d fund “north of $100 million” and had a “soft ceiling” of $1 billion for the 2024 elections. 

He also donated $10 million to then-candidate Joe Biden in 2020.

A YouTuber named “Nobody Special Finance” succinctly explained the FTX “Ponzi scheme” that led to its collapse this week.

“The truth is, Sam Bankman-Fried is a liar and a crook,” said Nobody Special. “His personal crypto, FTX Token, was basically a Ponzi scheme … He used his Ponzi token as collateral to borrow billions of real dollars that he couldn’t pay back … He then used those real dollars to build an empire out of dying companies.”

“[Sam Bankman-Fried] then sold people cryptos like Bitcoin, or so they thought. What they really bought was an IOU.”

In essence, Bankman-Fried used his corrupt earnings to finance the Democrats’ midterm races to head off a “Red Wave.”

Now that FTX has imploded, Democrats are saving face by renewing calls for the crypto space to be heavily regulated.

The adults in the room knew SBF was a fraud:

Biden, Ukraine, Crypto and Pedos….

All connected?

Watch here, it’s all explained in 90 seconds:

This video is awesome:

[iframe src=”https://www.bitchute.com/embed/UDuhtOr5ufJj/” width=”100%” height=”360″]

So….what do you think?

Does this take down Joe Biden?

Oh, and one more thing…

We’ve been telling you about the plan to install Trump as Speaker of the House, and some have said the plan won’t work because you need a Super Majority in the Senate to remove Biden and Harris…

True, but I’m banking on a scandal erupting so big that even most Democrats will vote them out!

And that scandal is now developing before your very eyes folks!

INCREDIBLE!

Back to the stock market crash, Bo Polny predicted the whole thing and told us 3 weeks in advance.

Details here:

Bo Polny Predicted The Bitcoin Crash TO THE DAY, Here’s What Comes Next…

I had Bo Polny back on my show today and we talked a LOT about crypto…

If you’ve been following the crypto markets or even just the news in general, you know crypto had an ugly week.

Huge crash…

Big players and exchanges going bankrupt over night!

In fact, I’m working on a big story right now that is set to expose and explain exactly how we may have just uncovered the biggest money laundering operation of all time…

And it may just be the thing that brings down Joe Biden and the entire evil regime.

Yes, it’s that big.

Here’s a sneak-peak:

But here’s the deal…

Bo Polny predicted the EXACT DAY of the crash with perfection!

He told his Newsletter subscribers back in October this was coming.

I couldn’t post about it ahead of time out of respect for the people that subscribe to his Newsletter, but now that it happened and he was right to the very day, I had to have him back on my show to break it all down.

We had a blast, and yes we also talked about September 24, October 24 and November 24.

You might be surprised to learn some of the details!

We also talked about Switzerland, the Egyptian Sphinx on top of Europe, gold and silver and a lot more!

Oh and of course Donald Trump!

This is so good and I’m excited for you to hear it.

Watch safely here on Rumble:

Backup here on YouTube:

👉 Download Bo’s slides for free: https://qrco.de/bdUurf

👉 If you want Bo’s trading Newsletter, go to https://www.gold2020forecast.com/cryptocurrency-index ➡️ use code WLT49. (LIMITED TIME)

💥 For access to the Easy Crypto School, go to https://www.easycryptoschool.com ➡️ use code WLT49. (LIMITED TIME)

The discounts are only good for a short time, so grab them if you want now.

The entire history of the Newsletter is available to you when you sign up, which is something I love.

You can go back and read and see exactly how accurate Bo has been:

And then for anyone who wants to get started but is scared to do it wrong or doesn’t know how, this is for you.

A trusted guide, from a trusted friend.

There’s a lot of bad stuff out there, but I’m always happy to send people to Bo’s Easy Crypto School:

Enjoy!

,

 

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