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North American governments do not want your money getting into the hands of terrorists, they say. But according to Wall Street Journal Nov. 3, they are giving it away to them anyway. And not just a trickle of a few dollars here and there. Originally the Federal Reserve estimated the ISIS funding “oops” as an expensive mistake that cost Americans $3 billion.
They were wrong. Not that this number isn’t shocking enough, but they forgot to add an extra digit to that billion dollar mistake. Now it is estimated that the amount of money that has gone right from the US Federal Reserve into the pockets of ISIS is around $13.2 billion dollars.
Oops. An expensive mistake. But if you forget to declare your wedding gifts at the border on your way to
Finance Minister Hoshyar Zebari said Iraqi authorities have taken a number of measures to crack down on illicit money flows to Islamic State, but that it is an uphill struggle to keep hard currency within the country because of corruption and the cash-based economy.
The problem dates to last December when Fed and Treasury officials called a secret meeting in an Istanbul hotel conference room with Iraqi officials. The Americans were alarmed by the rising volume of dollars being shipped into Iraq and the lack of clarity into where the cash was ending up, the people said.
Since the U.S. overthrew Saddam Hussein and helped establish the Central Bank of Iraq in 2004, the U.S. dollar has largely become the country’s chief currency because so much of the economy runs on cash. When Iraq needs more paper currency, the money is drawn from the country’s account at the Fed, funded largely by oil reserves, and flown to Baghdad.
The amounts have been soaring. In 2014, annual U.S. dollar cash flow from the Federal Reserve Bank of New York to Iraq was $13.66 billion, more than triple the $3.85 billion in 2012, according to data compiled by Iraq’s parliament and reviewed by The Wall Street Journal.
originally posted by: Zcustosmorum
a reply to: awareness10
Haha, and the billions missing with Rumsfeld's announcement before 9/11? Rotten to the core, the whole U.S. system of power and they're trying to spread their filth around the globe, and to a certain extent succeeding.