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US missing Billions in Iraq





deanhills
I just heard on the Al Jazeera News tonight that there may be as much as 18 billion US dollars in reconstruction funds that have gone missing over the years. How is that possible? I can understand a million or so but 18 BILLION? That totally boggles the mind. Shocked

The search for the billions of missing US dollars reminds me of a similar search for weapons of mass destruction Twisted Evil OK - I've tracked down the story .... :
Quote:
The Los Angeles Times reported last week that Iraqi officials argue that the US government was supposed to safeguard the stash under a 2004 legal agreement it signed with Iraq, hence making Washington responsible for the cash that has disappeared.

Ghassan Atiyyah, of the Iraq Foundation for Development and Democracy, discusses Iraq's missing billions

Pentagon officials have contended for the last six years that they could account for the money if given enough time to track down the records.

The US has audited the money three times, but has still not been able to say exactly where it went.

Al Jazeera's Iraq correspondent, Jane Arraf, reporting from Baghdad, said: "It's an absolutely astonishing figure - this goes back to 2003 and 2004.

"There is going to be a fairly wide net cast - some of them [involved in mishandling of this money] are thought to be US officials, but many here believe that it is the Iraqis who have filled their pockets.

"Safeguarding the money was up to the Americans ... after the invasion, provisional authority here was run by the American military.

"Piles and piles of shrink-wrapped US dollars came here, but the cash coming in is not the important part - it is what happened to it after [it got here].

"There are no documents to indicate who got it, where it was spent and what was ever built from it."

Source: Aljazeera.com
ocalhoun
deanhills wrote:

Quote:

"There are no documents to indicate who got it, where it was spent and what was ever built from it."


And there's your problem.
Some of it went to legitimate, but undocumented, purposes... The rest was stolen and/or embezzled by people taking advantage of the lack of documentation.
deanhills
ocalhoun wrote:
deanhills wrote:

Quote:

"There are no documents to indicate who got it, where it was spent and what was ever built from it."


And there's your problem.
Some of it went to legitimate, but undocumented, purposes... The rest was stolen and/or embezzled by people taking advantage of the lack of documentation.
You know, I just find this completely bizarre!!!! I'd have thought that any funds from the US would be carefully documented, checked and rechecked? Along the lines of eternal Government bureaucracy. This just does not make sense to me. In a positive sense. The media must be making a mistake, hopefully it will be rebutted soon. d'oh!
handfleisch
deanhills wrote:
ocalhoun wrote:
deanhills wrote:

Quote:

"There are no documents to indicate who got it, where it was spent and what was ever built from it."


And there's your problem.
Some of it went to legitimate, but undocumented, purposes... The rest was stolen and/or embezzled by people taking advantage of the lack of documentation.
You know, I just find this completely bizarre!!!! I'd have thought that any funds from the US would be carefully documented, checked and rechecked? Along the lines of eternal Government bureaucracy. This just does not make sense to me. In a positive sense. The media must be making a mistake, hopefully it will be rebutted soon. #-o

I posted about this before, it has been documented since soon after the Iraq invasion began. The Bush administration sent pallets of cash to Iraq and let billions of dollars of it be stolen. That's enough reason for the invasion right there -- all those mercenary companies, with their CEO Cheney and all friends of the White House -- probably ended up with billions of dollars for free, for nothing, the easiest and largest theft of cash in US history.

Doesn't anyone remember the long lead up to the Iraq invasion? Months of planning went into it, and yet we're supposed to believe this theft just happened, that bringing pallets of cash and not documenting where it went was just an honest mistake. It's enough money to run the LA school system for a year. This single disaster of the Bush tenure would be enough to make his presidency a tragedy for the record books, though we know that it was just one of many tragedies for the country under his reign.

But the media like FOX will tell you to be upset that NPR gets a trickle of tax money or that Media Matters is a tax-exempt organization.

By the way, deanhills, it's not Al Jazeera saying it:
http://www.cbsnews.com/8301-503543_162-20070981-503543.html
Quote:
The man Congress put in charge of auditing the billions of dollars dumped on Iraq after Saddam Hussein was toppled has told the Los Angels Times he can't rule out the possibility that $6.6 billion in cash sent from the U.S. was stolen.

Special inspector general for Iraq reconstruction Stuart Bowen told the Times the missing money may represent "the largest theft of funds in national history."

It was not, it is crucial to note here, U.S. tax-payer dollars which have gone missing in Iraq. The money came from a special fund set up by the Federal Reserve Bank of New York with Iraq's own money -- funds which were withheld from the nation during a decade of harsh economic sanctions under Saddam.

Now, and here's the real kicker, Iraq wants it's money back. The Los Angeles Times says some officials in Baghdad have threatened to take the U.S. government to court to reclaim the missing loot. The last known holder of the funds, before they mysteriously disappeared into the dusty oblivion of post-war Iraq, was the U.S. government.
deanhills
handfleisch wrote:
Doesn't anyone remember the long lead up to the Iraq invasion? Months of planning went into it, and yet we're supposed to believe this theft just happened, that bringing pallets of cash and not documenting where it went was just an honest mistake. It's enough money to run the LA school system for a year. This single disaster of the Bush tenure would be enough to make his presidency a tragedy for the record books, though we know that it was just one of many tragedies for the country under his reign.
I still can't believe it though. How can billions go missing just like that? It could happen in countries where there is no proper accounting system. As far as I know the accounting system has checks and balances in it that would make the President accountable. Or one would hope so anyway. If not, maybe the people are at fault?

handfleisch wrote:
By the way, deanhills, it's not Al Jazeera saying it:
That is correct. Al Jazeera reported on the Los Angeles Times if you read the quote from Al Jazeera in the OP.
handfleisch
deanhills wrote:
handfleisch wrote:
Doesn't anyone remember the long lead up to the Iraq invasion? Months of planning went into it, and yet we're supposed to believe this theft just happened, that bringing pallets of cash and not documenting where it went was just an honest mistake. It's enough money to run the LA school system for a year. This single disaster of the Bush tenure would be enough to make his presidency a tragedy for the record books, though we know that it was just one of many tragedies for the country under his reign.
I still can't believe it though. How can billions go missing just like that? It could happen in countries where there is no proper accounting system.

How could this happen?

The attacks on 9/11 have the country in shock and panic. In the national hysteria, the Bush administration starts a propaganda campaign against Iraq's Saddam Hussein, though he had no connection to 9/11. Most of the media is caught up in the hysteria and there are almost no anti-war voices allowed (Phil Donahue is fired from his TV show for speaking out). Otherwise sane Americans are convinced by nonstop lies from the White House, carried by a compliant media, that Saddam has missiles that can reach the US and he is going to start using them if the US doesn't invade.

In the midst of months of this, in the planning of the invasion, someone high up decides to steal a whole bunch of money. War is pretty much a crooked business anyway, so instead of stealing the money by inflating costs and making weapons that aren't needed, why not just steal the cash directly? So to supposedly help the rebuilding of post-invasion Iraq, someone decides the best way is to ship billions of dollars of cash on pallets in cargo planes and hand out the cash in huge bundles! And they don't get around to creating any accounting system. This is approved by winks and nods up to the highest levels. Rumsfeld is holding press conferences where he is making no sense in his answers, but everyone is afraid to say that the emperor has no clothes.

So, the money is shipped into the controlled chaos of the tarmacs and impromptu staging areas in Baghdad, and contractors (Halliburton etc), generals, etc. get to take crates of cash away. Maybe they have to scribble a signature, maybe they are running both the disbursement and accounting at the same time so no one notices. Looting and riots are going on in the streets, so who can notice this?

A couple years later, Rumsfeld retires in shame, maybe to avoid being around when this theft comes out. But mostly he's teflon, like Reagan was. Does anyone remember that after Reagan conducted the largest peacetime military expansion in history, he retired to a Bel Aire mansion that was "donated by friends"? Same thing here. Maybe Rumsfeld or Bush didn't get the money directly, but their friends did, and their friends are taking care of the Rumsfelds and the Bushes now.

That's one way how this could happen. No matter what the scenario, Bush and Rumsfeld are responsible for the greatest theft in US history, and all from us, the taxpayers. Our economy is suffering and will be suffering from the Bush regime for many more years. Some say our economy will never be the same.
gandalfthegrey
No surprise here.
deanhills
handfleisch wrote:
In the midst of months of this, in the planning of the invasion, someone high up decides to steal a whole bunch of money. War is pretty much a crooked business anyway, so instead of stealing the money by inflating costs and making weapons that aren't needed, why not just steal the cash directly?
I can't believe that the source of all of those billions would just hand that money to X person without having it all recorded (number of notes included), signed and sealed. If that is the case then I'd be more worried about the accounting system of the Federal Government than individuals who got to misappropriate funds, if indeed they did do that. I really need to see the evidence first. I'd understand a few million but billions? I can't imagine it just being shipped out in bundles without proper accounting procedures and detailed documentation.
SalDawod
hi for all ........
this subject need from us good looking for what america do the wear against Iraq we have first ignore what they was said because it is not the real reason ......

every body see Avatar movie the human go out them world for money ..... and they spend their money
and every thing else .....

and the governmental system at the usa do the same spend some for a lot ,,,,,, but they finnally will know it's so hard to find what they spent ....



sorry for the bad English ....
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