No one really knows how the US payment system works – there are no checks and balances.
Antonio Gracias shares his work trying to understand what is going on with the US payment system.
NEW: Antonio Gracias (@AntonioGracias) breaks down what he and Elon Musk discovered about the way money currently flows in Government (MUST WATCH)
“The way the Government works a Department just asks for money from Treasury and they send it out. We all run businesses, there’s a reconciliation process — there’s no reconciliation in the US Government — that process is broken. Literally money is just flowing out.
I used to ask myself why the Government numbers were always wrong. You just hit the button in the computer and figure it out. The problem is that that button doesn’t exist. Nobody knows where the money is flowing.
The Government has an Authorized Executive stamp a bill and then that bill just gets paid. The Department gets a budget authorized to it by Congress –> it goes to OMB –> OMB allocates a budget –> that Department then just sends a money request to Treasury to pay.
It’s not reconciled against what happened. There’s no Controller. The reason it cant pass audits is because you can’t pass something you can’t reconcile.”
NEW: Antonio Gracias (@AntonioGracias) breaks down what he and Elon Musk discovered about the way money currently flows in Government (MUST WATCH)
“The way the Government works a Department just asks for money from Treasury and they send it out. We all run businesses, there’s… pic.twitter.com/9yHSbB7DmK
— Autism Capital (@AutismCapital) February 8, 2025