Posted on 11/05/2024 2:18:02 PM PST by Rummyfan
If it weren’t for the election season swamping news coverage, odds are more people would be talking about the revelation that, to quote a Bloomberg headline, “The World Bank Somehow Lost Track of at Least $24 Billion.” In fact, that may understate the reality: the World Bank’s “accounting gap” could be as big as $41 billion. The missing funds in question were for “climate finance” projects, “financed by taxpayer dollars from its member countries, the biggest being the US.”
According to the Oxfam report that was the source for the Bloomberg story, “There is no clear public record showing where this money went or how it was used, which makes any assessment of its impacts impossible.” It is possible that much, maybe even most, of the missing money went to the intended people and purposes. But only the hopelessly naïve would dismiss the probability of rampant waste, malfeasance, graft, and outright theft as explanations for that “gap.” Spending of such magnitude and velocity with sloppy oversight is an invitation to thieves.
But the oversight scandal at the World Bank is chump change compared with the U.S. Inflation Reduction Act (IRA) and its massive planned “climate finance” program. The misnamed IRA is, in the words of its advocates, the “largest climate policy in US history.” [emphasis added] The law’s ambitions dwarf those of the World Bank. By various estimates, the IRA will lead to some $3 trillion in direct spending on grants, subsidies, and the like, plus another $3 trillion in related spending induced by mandates and rules. For perspective, that’s far more than the cost of Obamacare, and even more than the $4 trillion the U.S. spent (inflation adjusted) to fight World War II.
(Excerpt) Read more at city-journal.org ...
“Missing.”
Did they look for it in Switzerland....the Grand Caymans....
The biggest scam will have the biggest losses.
John Podesta was put in charge of distributing ten of billions of dollars in climate walkin’ around money.
Remember in 1994 when Newt’s Contract with America sought to end taxpayer funding of Leftist NGOs?
Sounds like a job for Elon Musk.
A billion of it went to Kamala’s campaign funds
$41B divided among 10000 corruptocrats is barely a nice retirement.
You’re supposed to keep records of the cash you hand out under the table???
ping
climate scam filling the elite pockets
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