How $21 Trillion Went Missing Without a Trace: America’s Biggest Financial Coup Explained

I call it a financial coup. I think what happened was when the budget deal busted in 1995, they gave up on the government. They just said, you know, this form of government will not work as a governance structure to manage the dollar system.

They're right about that. And and you know, they just felt it was impossible. If you're a risk manager, you got to turn the aircraft carrier before you hit the iceberg.

And that could be 20 years before. Do you know what I mean? And they just felt that the system wasn't working.

And it required to get consensus. You just had to dumb people down and buy them off. And it just wasn't working.

So I think they decided, okay, we're going to re-engineer government on the just do it method. The first thing we're going to do is we're going to pull all the money out. we're going to put the government in a debt trap and then we'll squeeze it and shift to the control model.

And it was a financial coup and it started in fiscal 1998. So it started literally October 1st, 1997. By 2015, they had had 21 tr we had reports in their financials of 21 trillion of undocumentable adjustments.

From a cash standpoint, you know, it could be 50 it could be 50 trillion or 10 trillion. There's no way to tell unless you can get access to the bank records. And then what happened was Dr Mark Skidmore of Michigan State University and I published a study sort of a survey we had done thanks to him and his students that announced that we were up to the 21 trillion at that point.

Then the next step that happened remember the Kavanaaugh hearings very well. Okay. What you don't remember is during the Kavanaaugh hearings, the White House, the Senate, the um House, Republican and Democrat, all of them together instituted issued an administrative policy called Federal Accounting Standards Advisory Board Statement 56.

Yeah, I did miss that. I'll just say you did miss that. Yeah, I I was busy watching cabinet yell about his teenage drinking or whatever.

And what that policy said is as a matter of administrative policy, we do not have to obey the constitutional provisions related to financial budgeting and disclosure. We do not have to obey the laws and we do not have to obey the regulations. What we can do is appoint a secret group of people by a secret process to move money out of the financial disclosures of the United States and 150.

So it's the 24 covered agencies plus approximately 150 governmental entities. And when you throw in the classification laws and the um the national security laws, it also applies to the big banks and contractors working for the US government. Now, let me explain what this means as a matter of investment.

When I look at the US large cap stock market or the US bond market, the Treasury market, I have no financial disclosure that has any meaning. Everything's secret. I have no idea what it means.

If I pick up the financials of a New York Fed member bank that is running the New York the US Treasury Department's bank accounts or if I pick up the Treasury financial statements, they're meaningless. They don't mean anything. What's missing?

You can't know. All you can know is a secret group of people can move whatever make whatever they want go missing and you can't know what it is. It's all secret.

So I'm I'm looking at half the cake, but I don't know what what part of the cake is missing. So it it's meaningless. You don't even know if it is half, right?

I I don't it it's you know it it has reached a level of absurdity where and but but the absurd thing is as a legal matter to take the position that an administrative policy agreed upon by the uni party can overrule the constitution can overrule the laws and can overrule the regulations simply by you know like the, you know, you you wave the wand and suddenly magically law doesn't matter. I mean, now you're talking and and you also saw this in in the financial crisis. A decision was made by Eric Holder in the Department of Justice to not prosecute HSBC.

There's a wonderful uh video on the best evidence channel by John Titus about this whole thing. And basically what they said is a systemically important this is under the BIS there's a definition under the BIS under the financial stability board of a financially systemically important institution right these institutions are free to break the law with no they're free to break the law at most all they have to do is kick back a piece of the profits to the department of justice. So it's like a a formal kickback system.

And what you're saying is that you're taking the sovereign immunity of the BIS and through the New York Fed extending it to the banks that are running these operations JP Morgan and the rest Bank of America. Yeah. Right.

So so what you're what you've done with the BIS, the IMF, the World Bank, the UN, you've created all these different organizations and if you look at we we did like 40 in Latin America. We've created an international overlay of organizations that have various forms of sovereign immunity. Of course, the big one being the BIS.

And so if they are free to break the law, I mean, if you if you look at the financial crisis, what you're saying is these companies can lose trillions of dollars, have it replaced by the taxpayer, and keep on going. So now is the point of the conversation where I have to ask the obvious question, which is who are these people? So can you name some of the people who you believe are making these decisions whose whose decisions are effectively as you just said above the law have effective immunity.

Right. So so that's the question sort of who is Mr Global and and my experience is the bureaucracy that that sort of runs things is the central banking bureaucracy. So we've described the BIS and the central bankers.

So think of the planet as a house. So you have the house then you have financing the house that's the mortgage then you have the insurance and you know if you don't have the insurance then your e then you have the equity in the house right and and the insurance layer is very very important to make sure that the equity is protected right okay so you got the real assets you've got the banking system you've got the insurance system and then you've got the owners so in my experience if you go to the BIS and you look at the systemically important institutions and the members, you know, that's the bureaucracy that runs the debt and the transaction system. So, the, you know, the transactions because the whole thing depends on being able to swap and and transact.

The insurance group is very important for the reasons you just described, same as on your house. And then the question is, who are the real owners? And that's the mystery.

And I've spent my whole life trying to figure out who are the real owners. And basically from what experience I've had, if you know their name, they're not one of the important owners. Do you know what I mean?

It's it's intergenerational pools of capital. Now, here's what's interesting. One of the most powerful pools of intergenerational capital that I've ever dealt with is the Harvard Endowment.

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So go to bondcharge. com/tucker, use the coupon code Tucker to save 15%. And if you look at the squabble going on over who controls the Harvard endowment right now, it's a very interesting squabble.

What can you summarize? Well, you have you have the Trump administration and the Department of Justice now in a lawsuit with Harvard over who has what powers over Harvard's policies. But I think the big the big fight is not the, you know, asymmetrical warfare.

The fight is never what the fight's really about. The real fight is about who controls the So Harvard Corporation, the university is only a portion of the Harvard Corporation. The Harvard Corporation runs the university and it runs the endowment.

Okay? And the Harvard Corporation in my experience is one of the most important investment syndicates in the world. And because they have a tax exemption, they don't have to pay taxes.

They spin off. I think the last time I looked I don't know what it is currently but they spin off about 4% a year for the university which is a lot cheaper than paying taxes and it's a great investment because the university provides all sorts of intellectual and human capital to the investment syndicate you know so it's a very brilliant elegant model and my theory is it was the model that was really created to sort of compete with the the Vatican and the Catholics who had 2,000 years of you know diplomatic immunity and no taxes anyway. So, so but it is the Harvard Corporation is run by a perpetuating board.

So, so the board members if board member leaves they pick a new board member. So, it's a perpetuate self-perpetuating board and my guess is behind the scenes if there's a fight one of the fight is who gets on that board because then you control a $50 billion plus endowment. um and a $50 billion plus endowment which now is has a 39% private equity portfolio and these are you know I I said to on money and markets which is our weekly show I said the other week you know if this was a monopoly board that would be Park Place because it's such a flagship in the world of investment it's such a major leader what would happen if the Congress decided the new tax bill to tax university endowments which they should do.

I don't know because because that will happen at the same time something else is going to happen. Um and these things are going to happen at the same time. The thing that's going to rock the universities is if you look at how much money it cost you as a father to put put one child through college.

you know, you're talking about enormous bills. And if you look at how far the universities have gotten away from providing a great education, it's not a good investment. So, when I was an investment advisor, I used to work with my client's kids and we would literally do something.

We have a learning plan on Ceri now that came out of this. I would literally make them price time and money for each course they took by course and I would ma basically make them say look what do you want to do in this life and what are the skills and tools you need to do it and how are we going to go get those tools with the least amount of your time and the least amount of your parents' money. How are we going to really?

And we would come up with these wild education plans where they would like, you know, go to San Francisco for this audio video course and then they would be next year in Budapest studying at the university, you know, cuz you want to you want to you you want kids to learn about the world and and you want them to be, you know, not provincial stuck in you want them to be educated. Yeah. You want them to be educated anyway.

But we would come up with these very creative things. And what you discover is now in a world of YouTube University and access to extraordinary, you know, resources all around the world to get a great education. The the universities in the United States have gotten unbelievably bloated and unbelievably off track.

I I think everyone senses that, right? And they're they're a terrible if you're if you're a loving parent, they're a terrible investment. You love your children.

You want your children to be successful. If I want my child to be successful in the world we're going into, you know, whether it turns into a control grid or the control grid, as I believe, will fail, you know, you want them to have an outstanding education. And and I will tell you bluntly, the reason the unipolar model failed is because we don't have a culture that can field and manage.

That's exactly right. We we don't we don't have the human capital to run the world. We don't have the human capital, but we're teaching our human capital to adopt a culture that that cannot succeed.

Exactly. Right. Right.

Right. So, if you're going to run the world, you need Eaton and Sanhurst to to to provide an administrative class that's tough, clear thinking, has a, you know, well- definfined mission. I don't sacrificing, you need Christianity.

Well, ex Well, both of those, you know, certainly Eden was a Christian school, right? You you if you if you're going to be part of a project that is longer than a lifetime, then you have to understand that this is about, you know, at the root, this is about your immortal soul and your soul is immortal. And that that triggers a very different way of looking at the world and a very different way of thinking.

And then you have to be able to collaborate across time and space in very powerful ways. That takes trust and faith. You have to be agreement capable and you can't run a a unipolar model, let alone a successful multipolar model unless you're agreement capable.

So this is Lavro's term and this is what the Russians understood and this is why they whooped our ass in Ukraine. They are agreement capable and we are not. Thanks for watching our YouTube channel.

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