WHY REVOKING FASAB 56 IS WORTH A MILLION DOGE INVESTIGATIONS

LESSON: A minimum of $21 trillion is missing from the federal government books and although there is incredible incompetence, the truth is the great majority is intentionally not disclosed, because they don’t have to.

Author

Jeff Martinovich
May 04, 2025

LESSON: A minimum of $21 trillion is missing from the federal government books and although there is incredible incompetence, the truth is the great majority is intentionally not disclosed, because they don’t have to.

You won’t learn about this from David Muir on ABC News, but it’s supremely important to understand for any corporate leader or investor. Let’s just do a high-level, quick introduction today. Stay with me!

The Federal Accounting Standards Advisory Board (FASAB) is responsible for ensuring generally accepted accounting principles (GAAP) are applied to government entities (broad term). The GAAP principles are the foundation of, hopefully, being able to believe the financial statements of government agencies, publicly traded companies, and even smaller businesses. Without a standard, a buyer or investor could never know what is true.

A significant number of top-level analysts assert there is at least $21 Trillion missing on the federal government’s Balance Sheet (in cash or assets). It was printed but where did it go? There are also top-level analysts’ assertions that the amount of debt of our country, plus the money floating out in the world, is at least double our $36 Trillion reported National Debt.

FASAB 56, quietly passed in 2018, is one of the reasons. This policy omitted the requirement for these entities to report proper financials in the name of national security, a vague term we all have learned can throw out the Constitution but now guarantees the federal government and public markets are not truthful (not that you needed more information to determine this). From a public perspective these reports become worthless. It also allows the addition of misleading information and information omitted on spurious grounds – fake news.

A tremendous number of public corporations do business with the federal government’s many dark programs in which, because of FASAB 56 and other exceptions, the money spent, the money received, and the value delivered or lost are not reported on anyone’s public financial statements. Analysts may report that the statements of Lockheed Martin, Raytheon, and thousands of defense contractors cannot be trusted for investing.

Thousands of non-defense companies generate millions of government projects to feed off your tax dollars and the Federal Reserve printing press, with Trillions not being reported – see companies like Google, Amazon, Facebook – now we understand why everyone was in the bleachers for inauguration.

Also, FASAB 56 and thousands of other secrets are the reasons the rest of the world is attempting to de-dollarize, invest in other securities for stability. As you know, having the U.S. Dollar be the world currency, willingly or by force, has been responsible for America’s tremendous growth and dominance of world markets. What most of us don’t realize is the federal government passes laws, statutes, and regulations which make it legal. For many, this is mind blowing when they begin to understand.

Remember, knowledge is power, claimed School House Rock! Don’t follow the herds and don’t believe much of what’s reported. It sounds cynical, but it’s the only way to retain a sovereign, thinking brain and independent life. Thank you to Mark Skidmore & Catherine Fitts for research.

Have a great week!