The US should give Iraq back the stolen 6.6 billion dollars. — Brooklynian

The US should give Iraq back the stolen 6.6 billion dollars.

It's their money to begin with and since they never got it. The us as the bankers(legal thievery) at the time. didn't delivery it back to the customers.

Following the March 2003 invasion of Iraq, the United States liberated, or seized, billions of dollars of assets from that country. But since Iraq had no banking system, the money - much of which came from Iraqi oil sales - was placed in an account at the Federal Reserve Bank of New York.

From there, large pallets of shrink-wrapped cash were periodically loaded into tractor-trailer trucks, driven to Andrews Air Force Base in Maryland, and airlifted to Baghdad. Some $12 billion of cash was flown to Iraq in the months following the overthrow of Saddam Hussein.

But not all of that money is presently accounted for. Roughly half of it - $6.6 billion - has disappeared.

http://moneymorning.com/2011/06/17/biggest-heist-in-history-u-s-taxpayers-could-be-on-hook-for-iraqs-missing-billions/

Comments

  • Isn't it actually the US tax-payer's money?

    And I'm reasonably certain the missing $6,600,000,000 ended up in Iraqi hands. Just not the hands of the Iraqi PEOPLE.

    Bush, Cheney and Rumsfeld should be in jail for the crime of the Iraq War.

    And people should care as much about sending PALATES OF CASH to warlords in Iraq as they do about poor black people in the US getting food stamps or whatever.

  • Well...if they stick the former administration in jail then the world court is also going to have to go after Tony Blair and a few other heads of state as well. But the question that has to be asked is..."are the people of Iraq better off now than they were when Saddam was in charge?" If the answer is yes then we accomplished something. If the answer is no then all this was for naught.

  • Sorry, I had a flashback to listening to Pink Floyd in adolescence while reading that last post

    Pink Floyd

    "The Fletcher Memorial Home"

    take all your overgrown infants away somewhere

    and build them a home a little place of their own

    the fletcher memorial

    home for incurable tyrants and kings

    and they can appear to themselves every day

    on closed circuit t.v.

    to make sure they're still real

    it's the only connection they feel

    "ladies and gentlemen, please welcome reagan and haig

    mr. begin and friend mrs. thatcher and paisley

    mr. brezhnev and party

    the ghost of mccarthy

    the memories of nixon

    and now adding colour a group of anonymous latin

    american meat packing glitterati"

    did they expect us to treat them with any respect

    they can polish their medals and sharpen their

    smiles, and amuse themselves playing games for a while

    boom boom, bang bang, lie down you're dead

    safe in the permanent gaze of a cold glass eye

    with their favourite toys

    they'll be good girls and boys

    in the fletcher memorial home for colonial

    wasters of life and limb

    is everyone in?

    are you having a nice time?

    now the final solution can be applied

    video:


  • C'mon now. Who says the bankers got all of it? I assume some special funding was received by some special groups.

    Who remembers the movie Independence Day when they went to Area 51? "You think they paid $20,000 for a hammer? $50,000 for a toilet seat?"

  • PragmaticGuy said:

    Well...if they stick the former administration in jail then the world court is also going to have to go after Tony Blair and a few other heads of state as well. But the question that has to be asked is..."are the people of Iraq better off now than they were when Saddam was in charge?" If the answer is yes then we accomplished something. If the answer is no then all this was for naught.

    Well no, charging our OWN leaders over their lies and crimes committed while sending us to a completely unnecessary war is a different thing than trying to try another country's leader.

    We most certainly "achieved" getting rid of a murderous dictator, but it was done at the cost of so many innocent lives, destroying an entire society for generations to come, not to mention 4,000 dead US soliders, 10,000's wounded, and billions of US tax payer dollars indefinitely into the future.

    Crimes were committed and lies were told. We shouldn't go after Bush/Cheney/Rummy/Wolfowitz/Feith et al in order to punish them (although that would help), we have to go after them to prevent this kind of thing from happening again in the future.

    But hey, this is the US and our leaders are above the law, especially the worse their crimes are. Dirty old Eliott Spitzer and Anthony Weiner aren't above their transgressions, but Bush and Cheney sure are.

  • its their money not american tax dollars. i doubt all the money made it to the iraqis some could just went home with some GI. think about it literally hundreds of millions of dollars in bags with no paper work.

    Hell anyone would a brain would of taken it lol.

  • >its their money not american tax dollars.

    No, it's not. It's American taxpayer money that Bush & Cheney chose to send to Iraq in a failed attempt to buy peace or loyalty or something.

    At no point did our country decide to send that money to the Iraqi "people".

    It was done covertly, w/o public knowledge, by a bunch of Bush Administration criminals.

  • Once again the U.S. is way behind in an important economic metric. This American project barely managed to “lose track of” 7 billion dollars, despite having the chaos of war as a cover. Or 18 billion dollars, as is reported today on Al Jazeera. Better, but still amateurish.

    For context, compare that trifling sum to the 120 billion dollars that Chinese government officials and employees made off with — during peacetime — right out from under the watchful eye of the authorities in their control economy, as described in the BBC article pasted below. Before discounting this as British misinformation, note that the source of the information is China’s central bank, about as inside as it gets.

    http://www.bbc.co.uk/news/world-asia-pacific-13813688

    See, now *that* is how it’s done, people! And this 120 billion dollars are just the funds that left the country. The 18,000 cases written about here are a fraction of the 240,000 cases investigated, covering just the years 2003–1008. Sadly, those statistics are left incomplete. We may never know how much was taken or how many individuals were involved.

    http://www.bbc.co.uk/news/world-asia-pacific-12088147

    I for one am ashamed that Americans can no longer carry out the simplest of capital diversions on a world-class level.

    * * * * * * * * * * * * * * *

    17 June 2011

    Chinese officials stole $120 billion, fled mainly to US

    Thousands of corrupt Chinese government officials have stolen more than $120bn (£74bn) and fled overseas, mainly to the US, according to a report released by China's central bank.

    Between 16,000 and 18,000 officials and employees of state-owned companies left China with the funds from the mid-1990s up until 2008.

    The officials used offshore bank accounts to smuggle the funds, according to the study posted on the People's Bank of China website this week but which has since been removed.

    It said the officials smuggled about 800 billion yuan into the US, Australia, Canada and Holland through offshore bank accounts or investments, like property or collectables.

    The stolen funds were covered up by disguising them as business transactions by establishing private companies to receive the money transfers.

    The study said corruption inside China was severe enough to threaten the nation's economic and political stability.

  • Every time i see rich Chinese kids in the states, i see the children of Communist officials/state own companies using stolen money. people are cheated out of wages and infrastructure and land. here in the us they are welcome with open arms into the elite universities, money throw to stupid brands they don't give a damn about etc..

    this is one reason i hate going to Manhattan, see them all over the place throwing money at stupid things.

    my parents are peasants and uneducated thanks to these jokers and the so called revolution that they took the money and land for themselves.

    the funny thing for my family is my great grand father was the last person in my family to go to college until my brother went. it's all thanks to these jokers. yet these jokers instead of improving their communities they go away to the west with the money to improve rich nation that doesn't even want them. but happily take their money though. We immigrated cause choices were few. So many of them here in the west.

    Alot top communist officials children go to Ivy league schools. too bad they give them fake names etc.. would be fun to be track down and to expose them see where their money is coming from. all the talk by politicians here about how much they dislike the commies, yet they help hide their wealth here.

    basically future Chinese elites have been groomed by Ivy league schools. they meet their counterparts here in college.

  • AW, do the Ivy-schooled children of Chinese Communist elites return to China when they graduate, or do they get jobs and stay here in the US?

    Are they here on student visas, and forced to leave when they graduate?

    Why is there such a thing as a "student visa"? Why would we want to allow foreign kids to displace American kids at our universities, if those foreign kids are going to be forced to leave and bring the benefits of their educations to economies of other countries, rather than to our own?

  • Some go back and many stay cause their parents already help transfer millions of dollars over here.

    depends on whom. if they already transfer millions, they'll stay, if their parents still have jobs there, they'll go back, but alot of them stay. its literally billions of dollars stolen all the time.

    Please respect FT.com's ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email ftsales.support@ft.com to buy additional rights or use this link to reference the article - http://www.ft.com/cms/s/0/02bfc8cc-702e-11e0-bea7-00144feabdc0.html#ixzz1PkfVgCTP

    The snubs have prompted the US to consider counter measures, including a review of the system for granting expedited visas to senior Chinese officials and their families.

    “Given the current climate of cancelled meetings and cancelled US-funded programmes in China, we are reviewing our procedures for approving visas for Chinese officials and their families,” said one US official.

    The Chinese crackdown has affected negotiations to set the agenda for the two countries’ twice-yearly strategic dialogue in early May in Washington.

    Until now, Washington has informally allowed the Chinese foreign ministry to nominate people for expedited visas through a “courtesy channel”. Those nominated include diplomats, senior officials, executives of state enterprises, journalists from state media and children of party leaders.

    Many of China’s senior leaders send their children to study at Ivy League universities, including the daughter of vice-president Xi Jinping, expected to be confirmed as head of the Communist party and president of China next year.

    She is enrolled under a pseudonym at Harvard University, according to faculty and US officials. Bo Guagua, son of Politburo member Bo Xilai, is at Harvard, as is Chen Xiaodan, whose father, Chen Yuan, is chairman of the China Development Bank.

  • 120,000,000,000 ÷ 17,000 = 7,000,000

    7 million dollars, average. A tidy sum. And there is no extradition treaty between the U.S. and China. Astonishingly clean work.

  • its more than that for sure. its a tiny part they are admitting.

    for example my home towns land prices is on par to ny.

    anyway the compensation given to the peasants who farm the land was literally few tens of thousand dollars. we didn't get this lucky, since we were in the west at the time, and my grand father went back in the early 90's to rebuild the house, they blew up the house and didn't even bother. they said the house was illegal no compensation.

    it's a very small world.

    the old Communist official who was in charge of this in my home town, now lives in Manhattan with his rich kids. My cousin saw him while working in the un over close many decades ago. She was like these bastards are doing very well.

    generally in china, land belongs to the government, peasants or city folks own the farm or house or apartments on top of the land. so these local officials generally force people out of the land for very little money and sell it to the companies for very little money. generally their family or friends own the companies.

    so now they have this thing for dirty cheap, they'll build factories or homes on top of that for full price. like my grand fathers house, would cost to buy now around few million easy today.

    my grandfather sold 3 out of 4 of our apt that we were allow to keep for 350k each 2 years ago, it is small and shitty and not new. we never lived in the apt in town we lived in the house next to the farm. part of the city now. the literally thousands of peasants that lost their homes and lands got literally nothing. and the guy is in the us and very rich for doing nothing but being a communist official.

    I was too young to know who these guys were, my cousin who left for france when she was my age. she worked for the french government, is much older than me.

    If i saw them, I honestly don't know what to do with them. I probably do something i wouldn't post here lol.

  • oh if you goto the casino's the gamblers with the big bank rolls are also commies or state company bosses. they lose billions in gambling each year here in the us. now they also lose billions in Macao.

    The government officials reported losing an average of $2.7 million each, according to the study, which was conducted by Zeng Zhonglu, a professor at Macao Polytechnic Institute. State managers lost $1.9 million each, on average, and cashiers dropped an average of $500,000. Most said their gambling careers lasted less than four years before they were found out.

    http://www.nytimes.com/2009/01/15/world/asia/15macao.html?_r=1&scp=1&sq=chinese gambling&st=cse

    I wonder what their rate is for us.

This discussion has been closed.