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Missing 12 billion in Iraq
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beemoe
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PostPosted: Thu Feb 08, 2007 3:05 am    Post subject: Missing 12 billion in Iraq Reply with quote

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STONE COLD CASH MONEY!

Waxman Probes Iraq Contracting, Missing $12 Billion (Update1)

By Jay Newton-Small

Feb. 6 (Bloomberg) -- Representative Henry Waxman, kicking off hearings on government contracting, questioned former Ambassador L. Paul Bremer today on what happened to as much as $12 billion in unaccounted-for cash spent when he was in charge of rebuilding Iraq.

A report from Waxman's House Oversight and Government Reform Committee said the money represented more than half of Bremer's budget from May 2003 to June 2004. The report described contractors being told to bring big bags to collect shrink- wrapped bundles of money and one episode where a Bremer staff member was allegedly told to spend $6.75 million in a week.

``We have no way of knowing if the cash that was shipped into the green zone ended up in enemy hands,'' Waxman, a California Democrat, said at today's hearing. ``We owe it to the American people to do everything we can to find out where the $12 billion went.''

The hearings, which fulfill a Democratic campaign promise, will spotlight the use of contractors in Iraq and on homeland security under President George W. Bush, as well as spending on Medicare and Medicaid. The hearings ``will embarrass the administration,'' said James Thurber, a political science professor at American University and expert on government oversight.

Contractors Killed

Representatives of eight companies -- among them Halliburton Co.'s KBR Inc. subsidiary, Boeing Co. and Lockheed Martin Corp. -- have been called to testify. The committee will also hear from family members of four Blackwater USA contractors who were killed in Fallujah in March 2004, their bodies burned and dragged through the streets. The families have accused Blackwater of failing to protect the men. Blackwater officials didn't return a phone call seeking comment.

So far, audits of spending in Iraq have covered only 10 percent of the contracts, Waxman said in a Jan. 31 interview. ``What we know from the audits is that perhaps billions of dollars may not be accounted for,'' he said.

Waxman's report said as much as $12.7 billion in cash from the Federal Reserve Bank of New York, sent to Iraq during Bremer's watch between May 2003 and June 2004, was unaccounted for.

While acknowledging he made mistakes, Bremer said the money was actually Iraqi money used to help revive the economy after the invasion by paying salaries in cash in a country where there was no practical banking system or government payroll.

``My colleagues and I fully understood our responsibility for the temporary stewardship of these Iraqi moneys,'' Bremer said in testimony to the committee. ``We took seriously our charge to operate in an open and transparent fashion to use these Iraqi funds in the best interests of the Iraqi people.''

``We always strived to meet those objectives, and where we may have fallen short, I accept the responsibility.''

KBR Audit

In addition to Bremer, Waxman today will call Stuart Bowen, the special inspector general for Iraqi reconstruction. In a report to Congress last week, he said Houston-based KBR, the largest U.S. military contractor in Iraq, failed to account for $22.3 million of items surveyed in two audits in 2004.

KBR, 80 percent owned by Halliburton, transports war supplies and provides food to U.S. troops in Iraq.

A KBR employee was convicted in August 2005 of accepting a bribe from an Iraqi company that had been seeking a $609,000 contract to renovate warehouse and office space, according to military legal documents. KBR fired the employee after an internal review.

Ship Contract

A representative for KBR will testify tomorrow, and Houston-based Halliburton spokeswoman Melissa Norcross said the company ``looks forward to providing the facts regarding KBR's work.''

Also scheduled to testify tomorrow are representatives of Moyock, North Carolina-based Blackwater; ESS, a division of Compass Group, based in Chertsey, U.K.; and Irving, Texas-based Fluor Corp., the largest publicly traded U.S. engineering and construction company.

Turning to homeland security on Feb. 8, Waxman will examine $47 billion of contracts for design flaws and cost overruns.

One of two projects he's investigating is the so-called Deepwater shipbuilding contract awarded to Integrated Coast Guard Systems, a joint venture between Los Angeles-based Northrop Grumman Corp. and Bethesda, Maryland-based Lockheed Martin Corp.

Commandant Testified

The Coast Guard contract has the potential to cost as much as $17 billion over 30 years, according to the Deepwater Web site. Critics cite delays in the project, design flaws and rising costs and question whether the companies should have received the contract in lieu of a series of small contracts.

Coast Guard Commandant Admiral Thad Allen, who told the House Transportation Committee last week that the project ``is designed to promote innovation and spread risk,'' will testify before Waxman's panel.

Project spokeswoman Margaret Mitchell-Jones said the company will tell the committee the ``complete story.''

Waxman, 67, is also questioning the cost of the Department of Homeland Security's award of a three-year contract to Boeing. The so-called Secure Border Initiative seeks to use technology to enhance border security.

Program Cost

Homeland Security Inspector General Richard Skinner told the House Homeland Security Committee in November that the program's cost may be anywhere between $8 billion and $30 billion, and he is to testify before Waxman this week.

``A large amount of money has been spent on border technology to protect this country,'' Waxman said. ``We're going to see what we got for that.''

Boeing spokeswoman Deborah Bosick said the company will discuss its effort to improve border security.

Waxman will wrap up this week's hearings with a day of health-care experts discussing whether the government is paying too much for prescription drugs through Medicare and Medicaid.

``Waxman has carefully selected this as his first set of hearings,'' Thurber said. ``They are planning it almost like a Shakespeare theater.''

To contact the reporter on this story: Jay Newton-Small in Washington at jnewtonsmall@bloomberg.net

[ February 07, 2007, 12:49 AM: Message edited by: DistantPlanet ]

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"Dig Deeeper..."

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beemoe
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PostPosted: Sun Mar 13, 2011 12:39 am    Post subject: Beemoe Reply with quote

How funny how something this big slips through unnoticed.
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beemoe
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PostPosted: Mon Mar 14, 2011 10:31 pm    Post subject: Beemoe Reply with quote

Hell yeah we need to dig deeper. How in the hell can somebody lose that much. It`s interesting that nobody talks about this anymore.
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beemoe
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PostPosted: Wed Jun 08, 2011 11:57 pm    Post subject: beemoe Reply with quote

So you`re not buying Bremer story about using Iraqi money or the rationale for paying in cash?
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FINCEN
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PostPosted: Fri Jun 10, 2011 5:24 pm    Post subject: Reply with quote

Not quite.
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beemoe
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PostPosted: Tue Jun 14, 2011 9:25 pm    Post subject: Beemoe Reply with quote

Why do I think this is related to the ultimate conspirators in BONY case? This is a real similar MO. So is the ultimate function here to finance that private state? Twelve billion buys a lot of government.

Maybe that money was intentionally put there to steal.
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beemoe
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PostPosted: Wed Jun 15, 2011 9:36 pm    Post subject: Beemoe Reply with quote

The more I think about it, that money was put there to steal. So much about the dollar devaluating to zero. I wonder who has that much clout to steal 12 billion?
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beemoe
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PostPosted: Mon Jun 20, 2011 8:02 pm    Post subject: From Beemoe Reply with quote

I`ve answered my own question? TR and similar groups. Like the ELF Aquataine conspirators. How many of the ultra-conspirator laundering groups have you indentified? It seems like something like this existed in Indonesia with the Suharto`s as well with Bersculoni. How about that fellow in Moscow who is called the "Godfather of the Kremlin"?
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FINCEN
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PostPosted: Tue Jun 21, 2011 3:18 am    Post subject: Reply with quote

The Godfather didn't wanted to play ball under his own terms and there was no way that was going to be allowed to happen and so he had to go. In terms of how many groups there are operating. Truthfully there is only one that matters. All the others 'regardless of how much press they receive are secondary. This includes that expansive family who everyone loves to point the finger at as the ultimate in banking evil. They are pieces 'albeit power pieces, yet pieces nonetheless,' in a game of chess where the states are the absolute highest. The same forces that are pressing Greece into giving up her sovereignty are the same forces which are pushing the same agenda globally. The United States is slated for the same treatment and once the government begins to default on their payments the politicians will turn to the IMF as a lender of last resort, they will insist upon certain measures such as the complete privatizing of national resources and the complete devaluation of the dollar and the overhauling of the job and financial sectors. We are well into witnessing this and most could care less. I should say most don't realize what is going on. So long as they have somebody to hate, they are perfectly happy ignoring the true nature of their misery and discontent.
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beemoe
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PostPosted: Wed Jun 22, 2011 6:09 pm    Post subject: beemoe Reply with quote

That`s a lot said. So even TR isn`t really paramount here. I wouldn`t even know how to put a real answer to this because there`s so much going on here and at stake. Do you think this is out of control of even the "gangsta-bankas" that`s Bambatta`s very good definition or this upcoming situation is controllable? I`m going to need a day to play with this.
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beemoe
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PostPosted: Wed Jun 22, 2011 10:40 pm    Post subject: Beemoe Reply with quote

So it`s the people who control the IMF that are the main laundering operation. That`s a mouthful, the notion that the USA turn to the so called hated IMF for assistance. Are these so same people that I asked about concerning Nate Rothschild? Now you gave me a target that I can really see.
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FINCEN
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PostPosted: Thu Jun 23, 2011 2:09 am    Post subject: Reply with quote

The IMF and World Bank are another layer, it actually goes deeper B. Think of it this way? Whose influence is on the ascent? Personally, nationally, economically and socially? Whose economy stands to benefit from a global retraction? Think back pre 9-11 to the economic order of things. This is key as it illustrates the fact that 9-11 wasn't so much a terror attack as it was an economic re-ordering of the financial order. 9-11 also marks an important date in history the answer of which can be found in the World War II era.
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FINCEN
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PostPosted: Thu Jun 23, 2011 10:21 pm    Post subject: Global glance at International troubles... Reply with quote

The IMF has reportedly expressed support for a proposed tax hike in Japan. According to statements attributed to the Japanese government, there is a plan to double the country’s 5% sales tax over a four year span a measure which is alleged to have been taken to defray the cost of “rising social security costs.” Japan’s finance minister failed to detail the list of projects that would be funded as a result of an increase in revenue, and thus providing solid evidence that little if any of those funds will be used to benefit the Japanese people in any significant manner.

Japan joins a laundry list of countries that have caved to threats of significant reduction of their inter-national credit rating. These demands have become commonplace and are very similar to the extortionate schemes and demands associated with the IMF and World Bank. Japanese Finance Minister Yoshihiko Noda continues to search for a program that will allow the country to establish a backup budget that will allow them to pay down existing debt without issuing new bonds. Even with the additional tax revenue, the Japanese government will not be able to settle a deficit that is estimated to be twice the countries $5 trillion economy.

At the heart of the economic struggles of Pakistan and building tension between western nations and Greece, lie the one-sided demands of the Central banking coalition. Stretched by outstanding commitments to the IMF and a narrow tax base where 1% of the population pay any income tax at all. This amounts to less than 10% of the countries gross domestic product. This is a area of prime concern that the Central Banking coalition has attempted to address by issuing demands for economic reforms through the IMF. As a result, Pakistani Federal Board of Revenue chairman Salman Siddique has announced a plan supported by the IMF to increase the percentage of the general sales tax from 8 to 16%. This of course is a regressive measure that will fall upon the shoulders of the general population.

The IMF has also issued demands that the Pakistani government end the practice of subsidizing it’s energy sector a measure that is aimed at opening up the country for exploitation through significant hikes in energy costs to be paid by ‘who else’ the common Pakistani citizen. Since Pakistan has been slow to implement these and other changes, the (CBC) through the IMF has signaled the World Bank, Asian Development Bank and the United States to withhold payments which will result in an estimated 8% increase in the Pakistani deficit by years end.

All of this occurring as an entity known as The Financial Stability Board is set to meet on July 18 to finalize a plan that will levy a 1 to 3% surcharge on the World’s largest banks. The levy will apply “if a bank grew significantly and as a result assumed larger systemic risks.” This “capital surcharge” will apply initially only to the largest banks such as Goldman Sachs, HSBC, Deutsche Bank and Morgan Stanley but will eventually expand to other lending institutions. The reasoning behind the surcharge is based upon the collapse of Lehman Brothers in 2008 and will consider such factors as the interconnectivity of the institution to the rest of the financial system and how easily its operations could be substituted “or absorbed” by another lender.

The capital surcharge will be on top of the new global Base III minimum capital of 7%. These changes come as Central banks continue to pour capital into the Global financial system. Led by the European Central Bank, the massive infusion of capital since 2009 is the equivalent of an 8% increase in the global gross domestic product. The European central bank leads the way contributing 43% of the total contributed followed by the US Federal Reserve with 35% contributed followed by Japan’s 16% and the UK’s 5%. These figures are particularly troubling considering the well-documented struggles of each of these countries economically. All of this information clearly illustrates the methods employed by the Central Banking Coalition in the greatest transfer of wealth in history. This is a crime orchestrated against every nation on the globe.

Those nations who fail to institute the policies detailed by the (CBC) “as demonstrated above” are subject to retribution in the form of economic sabotage.


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beemoe
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PostPosted: Sat Jun 25, 2011 7:09 pm    Post subject: Beemoe Reply with quote

Japan and Warren Buffet. Buffet has become a "media star ' of late with his connections to both Lebron James (remember your post on Lebron and laundering in the NBA) and Jay-Z (that person that you took apart not too long ago). Buffet is everywhere but the whole thing with toxic financial vehicles that he blessed via Moody`s which is a front for those Eurpoean gangsta-bankers say`s it all.

I would go so far as to say that Lebron`s introduction to The Rabbi came via Buffet.

Japan was very pre-emmient before China came along. I can remember all the media-induced fear of Japan back in the 80`s and early 90`s. Japan`s economic "miracle". Wasn`t Japan who saw China and Manchuria as their version of "Manifest Destiny"?

China, Manchuria, Mongolia and Siberia with it`s endless natural resources. Japan with it`s zaibatsus those people who really understand how to use all those resources that the Russians didn`t understand how to exploit. Yeah I can see where this is going!
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beemoe
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PostPosted: Sun Jul 03, 2011 12:03 am    Post subject: Beemoe Reply with quote

So how close am I on this? China has gotten a lot of press but their system has grown because they`re are leaving the agricultrial age and moving into the information age. Therefore they are needing a lot of new stuff and services. All countries go through this when they make the jump into hyperspace. The question is does China have enough business / finance savvy to make the jump? Japan does.
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