World Bank Loses Track of Billions

If nothing else, the latest climate beano, COP29, laid bare the ‘climate change’ agenda for all to see.

Money. Lots of money. The biggest, unearned, wealth transfer in human history. Of course, it’s dressed up in sugary language as ‘climate reparations’, but when its biggest beneficiaries are two of the worst polluters in the world – China and India – they’re fooling nobody. No more than they are when they call mega-wealthy countries with huge militaries and space programmes ‘developing nations’.

The sheer scale of the grasping greed of these silk-clad mendicants is such that tens of billions of dollars are a mere accounting error.

Bungling World Bank bureaucrats lost track of at least $24 billion bankrolling the battle against climate change, according to a bombshell report by a left-leaning charity group.

An investigation by Oxfam revealed “poor record-keeping practices” by the DC-based international lender that resulted in anywhere between $24 billion and $41 billion in misplaced funds.

Misplaced? Or redirected?

And almost certainly much, much more than they’re letting on.

A World Bank insider, speaking on condition of anonymity, suggested the figure for the missing money “could be twice or 10 times more.”

“All the figures are routinely made up,” the source said. “Nobody has a clue about who spends what” […]

The agency’s audit showed “a lack of traceable spending” over the past seven years.

In other words, nobody has a clue where up to half a trillion dollars of Western taxpayer’s money has gone. Given the anti-Western hostility of such global bodies, who wants to take bets which despots have trousered the cash?

The explosive findings by Oxfam, a British-based non-government organization, mean the US has likely lost just shy of $4 billion because it is the bank’s biggest shareholder with a 16% stake.

“This is an outrageous waste of US taxpayers money on a useless woke political cause. It is an insult to the American people,” Nile Gardiner, the director of the Margaret Thatcher Center for Freedom at the Heritage Foundation, told The Post.

“The World Bank and all international institutions need to be fully held to account.”

No, it needs to be disbanded, and all its funds handed back to the donor nations.
Like so many globalist institutions founded in the wake of WWII – not least the UN itself – the World Bank is not just no longer fit for purpose. It’s become essentially a hostile foreign power.

The international lender was set up in 1944 to help rebuild Europe and Japan after World War II.

Today, it doles out cash to less well-off countries in the form of loans or grants as a way “to create a world free of poverty.”

Free of poverty? Or free of Western liberal democracy?

If nothing else, judge the World Bank by its supporters.

Last week, the Biden-Harris administration voted in favor of boosting the bank’s lending firepower by $150 billion over the next 10 years.

Let’s hope it’s yet another globalist institution trembling as January 20, 2025 draws closer.

The United States is the only government from the 189 World Bank countries with the power to veto any changes on how it is run because it is the global body’s main founding member.

A May 2024 report by the Congressional Research Service shows the World Bank’s total capital amounts to just short of $320 billion, with US taxpayers contributing or being left on the hook for as much as $57 billion.

Just in case anyone is still labouring under the delusion that it’s not all a scam for the globalist elite.

The generosity of US taxpayers also allows World Bank staffers to rake in ‘fat cat’ tax-free salaries with senior directors able to take home more than America’s commander-in-chief […]

Even the most junior World Bank employee can pocket as much as $62,000 tax-free.

Other lavish perks at the global body in downtown Washington DC include generous pension plans that only require a minimum 5% contribution from the employee.

Staffers also have the added bonus of enjoying free US health insurance for life, as well as being awarded 26 days of annual leave a year and 15 days of sick leave.

Still think it’s all about ‘saving the planet’?