Iraqis angry about missing $40 billion
Feb 22, 2011
The protests in Iraq are quite different from the other countries in the Middle East. For the most part, the Iraqi people are tired of waiting for their government to be formed. The more this drags on, the longer the people must wait for electric power plants, government jobs, and the revaluation of their money (so they can buy needed foreign goods).
But news reports now say that the "Development Fund for Iraq" has confirmed that it is missing US $40 billion that was supposed to be used to rebuild infrastructure, schools, power grids, and so on.
"Today we have formed two committees on the amount of Thakiqitin absent almost forty billion dollars withdrawn from the Development Fund for Iraq and do not know where he went."[Poorly Translated by a computer]
To the Iraqi people, this tells them that this government is utterly inept and probably totally corrupt.
$40 billion would be a lot of money even here in America, but in Iraq it represents twice the amount of money in circulation in Iraq itself. Iraq has about 18 trillion dinar circulating among its people, which is worth somewhat less than $18 billion US dollars.
Therefore, when $40 billion goes missing in Iraq, it is a staggering amount of money.
The government has put together two committees to find out who lost the money, or, more likely, which politician or banker stole the money.
I'm sure glad such a thing could never happen in America.
Dr. Stephen Jones