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$39.5 billion missing from DFI Funds


Carrello
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Nujaifi: $39.5 billion missing from DFI Funds; Investigative committee formed

Posted: February 21, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics

IRAQ-POLITICS-MALIKI-TALABANI

$40 billion ‘missing’ from Iraq

Around $39.56 billion is “missing” from a post-Gulf War fund that Iraq maintains to protect from foreign claims.

“There is missing money, we do not know where it has gone,” Osama al-Nujaifi said at a news conference in Baghdad. “The money is around $39.56 billion in total.”

“It may have been spent somewhere, but it does not appear in our accounts, so parliament will investigate where this money has gone.”

Nujaifi did not say when or how the discovery had been made regarding the missing money. He said two investigative committees had been formed to track down the cash.

The Development Fund for Iraq (DFI), which was set up after the 2003 war to handle oil and other revenues, has been protected against claims by a UN resolution that expires on June 30.

DFI Missing Funds

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Call me old fashioned or naive but how the hell do you loss $39.5 billion dollars ???? I just don't get it isn't that like a few pallets of cash i mean i can see dropping $20 bucks out of your pocket now and then but how the hell do you lose that kind of money ?????? :o

Yeah, I didn't know Paul Bremer was still in-country....

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This is unbelievable. This another example of the corruption that is culturally in-bred in this part of the world.

Ali-baba and his Forty Thieves aren't just a story book fable. The people in this part of the world are just different from the people in the West. Cultural Values, Social Mor'es etc.

I had an attorney for many years here in the states who happened to be of arab heritage. He was third generation, immigrant and was born a U.S. citizen.

He pointed out to me that in his "community" you would not find many alcoholics or drug addicts but you would find lots of crooks ie. crook-ed gamblers, con artists and out right swindlers.

I discounted his comments until I had more opportunities to do business with his "community" and I began to agree with his opinion. The corruption and double dealing and outright thievery in Iraq is just more evidence of the truth in my old attorneys words of wisdom.

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Ask the Pentagon how it loses money, they do it lots of ways, ask the Federal Reserve System what it does with huge amounts of money and they will not even reply to Congress as to where billions went. So don't believe it strange for Iraq to lose a few bucks.

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I'd say someone should check out M's sock drawer for the missing money

Not to mention what is in his steamer trunk.

Thank you for a chuckle. I needed it this morning. +1 from me.

And I must say that anyone that is incensed by someone being able to misplace billions, really should look at our corporations (don't pay taxes - go offshore to evade billions in taxes every year, yada yada yada), our government, and the Federal Reserve, give it up. We are just as talented at this as they are. Same tree - different banana.....

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Not to mention what is in his steamer trunk.

Thank you for a chuckle. I needed it this morning. +1 from me.

And I must say that anyone that is incensed by someone being able to misplace billions, really should look at our corporations (don't pay taxes - go offshore to evade billions in taxes every year, yada yada yada), our government, and the Federal Reserve, give it up. We are just as talented at this as they are. Same tree - different banana.....

Wanna be incensed...watch this:

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Dollars or dinars..If its dollars they could be worthless soon...If its dinars SOMEONE get on this quick were talking alot of money there :D:lol::D:lol::D:lol::)

I know that you are just kidding, but this really is in dollars. All the funds that went into the DFI fund were from oil export sales. This is the same fund that compensates Kuwait.

Drox....Are you reading this? This actually demonstrates that there is probably hundreds of billions of dollars in this account. Myself and Doc31 debated this last March. The balance within this account has been confidential for years. The last known article came from the U.N. back in 2008. At that time the article stated that the fund had 180 billion dollars in it. Doc31 and I did some math on this and it was determined that this fund would have between 325 to 400 billion dollars in it by the end of 2010.

For those of you that have not seen many of the threads and chats dedicated to the DFI fund, be aware that this is the fund that will allow the CBI to defend and support the new rate. Groovgal had some great info on this if you would like to search for her chats. This fund gets returned to the CBI per the U.N.S.C. resolutions at the end of June 2011. This is where the real money is.

Thanks for the post (+)

All the best,

Lgraham

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Wanna be incensed...watch this:

A Trillion Dollars was given to someone and as the Director of The Federal Reserve. She doesn't know where it is and she claims to be actually looking into where it went. Its a good thing she doesn't serve as the Director/CEO of Chuckee Cheeses or we'd run out of milk cartons to place pictures of the missing kids she'd have lost.

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“It may have been spent somewhere, but it does not appear in our accounts, so parliament will investigate where this money has gone.”

Check the pockets of Maliki, and the rest of the Elite of the GOI.

Maybe thats why they are moving their families out. Check the diapers and little backpacks on the kids!

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That would have to be A REALLY BIG SOCK DRAWER.

Why do you not pick up A snake?

Because the snake is still a snake and a snake's nautre is to bite you , even after and especially he tells you he wont bite you.

and then when he does bite you you ask "Snake, why did you bite me?

The snake answers, Because I am A snake and it is my nature to bite.

Thank you very much for picking me up.

Inspite of all this GO RV

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interesting random calculation.... 40 billion would give all of us DV members 1.5mil..

I bring this up to say that if anyone is worried that so many of us becoming millionaires overnight is not plausible... dont worry we are a spec on the wall...

just a thought

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Call me old fashioned or naive but how the hell do you loss $39.5 billion dollars ???? I just don't get it isn't that like a few pallets of cash i mean i can see dropping $20 bucks out of your pocket now and then but how the hell do you lose that kind of money ?????? :o

Actually, it's about 400 pallets of neatly stacked $100 bills. Now that is some serious cash!

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I know that you are just kidding, but this really is in dollars. All the funds that went into the DFI fund were from oil export sales. This is the same fund that compensates Kuwait.

Drox....Are you reading this? This actually demonstrates that there is probably hundreds of billions of dollars in this account. Myself and Doc31 debated this last March. The balance within this account has been confidential for years. The last known article came from the U.N. back in 2008. At that time the article stated that the fund had 180 billion dollars in it. Doc31 and I did some math on this and it was determined that this fund would have between 325 to 400 billion dollars in it by the end of 2010.

For those of you that have not seen many of the threads and chats dedicated to the DFI fund, be aware that this is the fund that will allow the CBI to defend and support the new rate. Groovgal had some great info on this if you would like to search for her chats. This fund gets returned to the CBI per the U.N.S.C. resolutions at the end of June 2011. This is where the real money is.

Thanks for the post (+)

All the best,

Lgraham

GREAT post.

thanks

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