That Time The Military Let $2.3 Trillion Go "Missing"

That Time The Military Let $2.3 Trillion Go "Missing" - How Money Works

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Жыл бұрын

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In 2001 defence secretary Donald Rumsfeld announced that the department of defence had lost more than 2.3 trillion dollars.
At this time the entire federal budget was only 1.8 trillion dollars which meant that the military had basically just oopsied away more than a years’ worth of the governments entire bankroll.
The public was furious to say the least, and rumours quickly started circling about where this money ended up.
Fortunately for Rumsfeld and the entire militaries senior brass the public announcement of the missing money was made on a very opportune day, September 10th.
#HowMoneyWorks #business #finance
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Edited By: Andrew Gonzales
Music Courtesy of: Epidemic Sound
Select Footage Courtesy of: Getty Images
All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind.

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@HowMoneyWorks Жыл бұрын

Sign up to Morning Brew for a totally free selection of high quality business, finance and general interest articles delivered direct to your inbox every morning - morningbrewdaily.com/howmoneyworks

@maddie3521 Жыл бұрын

Im using morning brew since like 4 months and its phenomenal!

@rezakarampour6286 Жыл бұрын

Search . ' What Can You Get For $2 Trillion '

@clockworkcrew8012 Жыл бұрын

Didn't the Pentagon lose track of $35 trillion in 2019?

@Amanda-cd6dm Жыл бұрын

Oh wait I forgot to mention the MULTIPLE MURDERS THAT NOT ONLY DSS, ANSON COUNTY COURTHOUSE AND IT'S EMPLOYEES, SSA, CHILD SUPPORT ENFORCEMENT, FEDERAL AND STATE LEVEL GOVERNMENTS, CHRISTIANITY IN GENERAL(I HAVE PROOF, HARDCOPY AND YES I MADE COPIES AND HAVE INSTRUCTIONS ON WHAT TO DO IF I END UP INPRISONED WRONGFULLY , MURDERED(I wouldn't count my chickens I'm pretty sure I can come back), KIDNAPPED, MISSING, OR ANY OTHER TYPE OF HAVEN'T SEEN AMANDA IN A WHILE! REPORTERS ARE ALSO A GREAT BONUS TO PEOPLE WHOM THE GOVERNMENT IS TRYING TO DEEM INSANE SO THEY CAN ROB THAT PERSON(PENNY McBride ....), I am so ashamed that there is not one good, no not one!

@Amanda-cd6dm Жыл бұрын

@@maddie3521 I miss my Maddie!😥

@Atombender Жыл бұрын

"If you think that losing $2.3 trillion is bad, just watch what's gonna happen tomorrow!" ~Donald Rumsfeld

@rentstoohigh1587 Жыл бұрын

Underrated

@javenradt1314 Жыл бұрын

"This fact is of little practical value and if you question it you are jeopardising public safety."

@tomlxyz Жыл бұрын

I'm wondering why I've never heard it come up in 9/11 conspiracy theories

@benshelton7529 Жыл бұрын

😂😂😂😂😂😂😂

@derperderp9036 Жыл бұрын

Link?

@maxmarx2 8 ай бұрын

Yet the IRS found out I didn’t pay $600 of taxable income lol

@anonymoususer19 6 ай бұрын

It’s called a “revenue” service for a reason dude

@derricksmalls2293 5 ай бұрын

@@anonymoususer19 You missed his point.

@user-qq4mk4zk4t 4 ай бұрын

No they didn't, they delayed that change again

@megamikkila 3 ай бұрын

You made the mistake of telling them. Start a Company- can be “Anonymous Golf Tours” Put your car under this company, get a company card, work for free, dump all taxable income into this entity, then entity buys cars, boats ect you can use whenever. Going out to eat is a expense. Even $100 at a restaurant you save like $30 not payibg tax on that income. This is why companies dump money, buy stupid things ect. Wake up america ! Start a small biz today - just make one up - Be anything

@JoshPitts530 Жыл бұрын

When I served as a supply sergeant in early 2000s, my mind was blown at how many tax dollars are spent on “use it or lose it” budgets. I spent tens of thousands of dollars on office supplies alone in a week. Also, helicopter screws that were $75 we could have got at Home Depot for $0.75 cents. This has been going on at least 20 years that I’m aware of. Such a waste.

@proy3 Жыл бұрын

Admin in the Navy '09-17. Same deal. We would straight up buy months of supplies that we already had months of and even bought a big screen TV for the office that we stuck on the wall and never used, just so that we wouldn't lose the money in the next FY.

@notorioustori Жыл бұрын

This reminds me of how they went after this extremely small private company that had a contract with the govt and was charging exponentially inflated prices for tiny packages of nuts and bolts. The govt blamed them for being exploitive. The exposé went after the lack of manual auditing. I think at the time there was a bot/software/automatic/no auditing system in place with no actual human eyeballs on these ledgers, which allowed these, maybe 2, women to do this for yeeeaaars. I wish I remembered all the details. I think it was on 60 Minutes.

@admiralfrancis8424 Жыл бұрын

What a disgusting waste of of resources. Imagine what all that money could have been spent on.

@Michael-Gill Жыл бұрын

As a former helicopter pilot who started as a flight engineer, the screws at home depot are NOT the same. Aircraft fasteners account for corrosion and specific tensile strength and other properties for their specific use within the flight system. You can buy the right sized "metal" screws with the right thread pattern at Home Depot, but what good is it if it's too weak...or too rigid and saws through its mate... or triggers corrosion. You pay that much for the screw because at every step down to the tested purity rating of the smelted metal you know you're getting the necessary screw with the required properties as demanded by the engineers who designed the $XXM aircraft. An aircraft that Mr. Supply Sergeant doesn't have to trust his life with for X hours straight in the middle of the night moving around at speed.

@JoshPitts530 Жыл бұрын

@@Michael-Gill Makes sense, I figured it was something like that but I still think the manufacturing costs are outrageously marked up from private to government. Too big of business. Let’s reel it in.

@tonyk4615 Жыл бұрын

My dad worked for Boeing when the $10,000 toilet seat scandal broke. He explained that the Air Force only ordered 12 toilet seats for the C5. Because of regulations they had to be a certain material and due to space constraints they had to be a unique shape. A manufacturing line was set up to produce literally 12 toilet seats. That’s all. The manufacturer tried to tell the Air Force they might need extras for repairs in the future and recommended that they order more. It would be a higher overall cost but cheaper per unit. The Air Force declined. I sure hope that none of those seats ever broke because the manufacturing facility isn’t making them any more.

@alan5506 Жыл бұрын

120k for 12 seats? And how much would it be for more? Like 130k for 100?

@mushroom11g55 Жыл бұрын

"I sure hope" calm down dude it's just a seat. Easy to replace if the people involved arent stealing money.

@ThatTURK1 Жыл бұрын

Your telling me no other company bid for those toilet seats other than boeing?

@juliopatino9527 Жыл бұрын

Your dads a sheep bud

@MetaManager1 Жыл бұрын

Don’t look into who owns the toilet seat company. That won’t make you very happy.

@markstahlhut6079 9 ай бұрын

"Unaccounted" is simply an extremely polite term for stolen, and laundered.

@jade7631 2 ай бұрын

@LazTheTurtle2.3 trillion went missing in a single day. It doesn’t just happen. And it has happened more than once. 2.3 trillion is more than a years worth of military spending.

@FinancialInterest101 Жыл бұрын

The defense budget could probably be cut in half if we took out the inefficiencies and blood sucking leeches out of the system

@crazy_mind-ox8if Жыл бұрын

Well... it is a government operation. Not sure what you expect.

@blackhand8299 Жыл бұрын

You could save a lot by just removing U.S bases abroad like most of the Defense budget is used for that

@hunterrokop Жыл бұрын

@@blackhand8299 ha no, we will keep those, nice try china

@m136dalie Жыл бұрын

@@hunterrokop Where would we be without the USA bombing hospitals and schools? Sorry, I meant delivering freedom.

@dogetaxes8893 Жыл бұрын

Yep, the US has footed to bill for military spending for to long.

@bfg5291 Жыл бұрын

The weirdest part of this, and I've done a deep dive before, is the office set up to investigate the missing money was hit on 9/11 by a plane that there's not a single picture or video of.

@michael85225 Жыл бұрын

Exactly, and it was very convenient for a major news story to occur the next day so people would stop talking about this missing money. 9/11 gets more crazy the more you look into it.

@Quickshadow10 4 ай бұрын

More details please- name of the office, address, what evidence of the plane did you find?

@1futur334 4 ай бұрын

Oh there’s a video bro the blurry one from the gas station 😂😂

@1futur334 4 ай бұрын

@@Quickshadow10safe to say there was no plane. Think about it. The worlds most secured airspace couldn’t provide any footage of it, they couldn’t figure out that 4 planes went off-course for over an hour, they also said the highjackers couldn’t land, but somehow deviated a plane to hit the pentagon at ground level? Think about those things for a moment and tell me if it makes any real senses, or how they found one of the dudes passports in the debris @ twin tower & immediately knew who to blame. Look at a picture of the damage a single bird does to a plane, then look at a video of a plane crashing into other buildings & what happens & then look at controlled demolition. There’s many reasons as to why this day happened, one of those reason was to get people to ignore their own logic & use their emotional state of being to be manipulated into war.

@jakethe3rd766 3 ай бұрын

@@1futur334you mean the one with like 5 frames per minute?😂

@mrduckman225 Жыл бұрын

It doesn't go missing. It goes in their pockets.

@Matok1 Жыл бұрын

"Missing" is the name of the account it ended up in.

@apollo1694 Жыл бұрын

Literally just ignored everything said in the video

@blazingguyop Жыл бұрын

Nah maybe secret military funding

@Rajesh1622 Жыл бұрын

Naah they have been funding terrorist organisation to fight against Russia in afganistan.. spet 10 was the day they found out about missing money. Then 9/11 happened and surprisingly Planes hit all that place where paperworks and investigation was going on... Hmmmmmm.. we have to re think about the story we all have been told

@tylerdebo2467 9 ай бұрын

@@blazingguyop secret military funding to companies they sit on boards of

@stevenbaker2736 Жыл бұрын

So the worst part about the DOD budget is that if they don’t spend the money they are given by the end of the fiscal year, their budget gets reduced the following fiscal year. The last quarter of the year they start going on a spending spree and there are some.. questionable.. purchases. All purchases require justification, but there isn’t an outside person who approves it. It goes through various internal people to approve the purchase and when money needs to be spent most people don’t ask questions. As long as the justification can be related somehow to benefiting the overall mission, it will get approved. And it’s things that can/should be paid out of pocket by the commanders or things that aren’t really needed but are convenient or just look better than what is already being used

@chamberscmt Жыл бұрын

Had a friend who was a mechanic in the Marines during the Iraq war. To give more experience to the mechanics they were encouraged to tool around with a vehicle even if you totally messed it up, because they would just order a new one. This practice extended beyond practical purposes: a Jeep with a flat tire might be listed as destroyed in order to use budget and get more. If there was any question about the working condition of the vehicle, it would be set on fire to ensure they could order more.

@zachg3908 Жыл бұрын

This is a big issue in the national guard. When we deploy we need all the money we can get (and we are given extra funding in these times) but once we come back our expenses drop because we're no longer working everyday. The result is we scramble to spend it all because we know we'll need it the next time we deploy.

@coryhoggatt7691 Жыл бұрын

That isn’t actually policy, just a recognition that when cuts come they’ll axe overfunded areas first. The USMC has a tradition of walking a check to the SecNav of unspent funds every year. The real reason money gets spent at the end of the year is that some part of the budget is always held back in case of emergency, which sometimes gets spent and sometimes doesn’t. If money is left over, it gets spent on lower priority (but usually still necessary) items. In most cases, it’s used for exactly what it was provided for.

@luisandrade2254 Жыл бұрын

This is the same problem with all public services really

@cummerou1 Жыл бұрын

A place near me gets their entire parking lot repaved every year so they can keep their budget high "just in case". Absolutely insane waste of money and resources

@Simon_GH Жыл бұрын

Wish I could just have money just go "missing" and no one bats and eye. When I was a kid I found a "missing" $5 bill in my parents laundry basket. I quickly bought a lot of snacks, they questioned how I got so many snacks. I told them I worked for it 🤣they knew what I did, they questioned me until I owned up to what I did. I had to clean the whole house and do chores for a whole week.

@guillermozalles9303 Жыл бұрын

We can't just question these people. They are above the law.

@TheUnholyPosole Жыл бұрын

... maybe burn down an insured house?

@sumayahlea3276 Жыл бұрын

Damn should have had the washer machine blow up. Just think if u studied the anarchist cook book

@Hastur876 Жыл бұрын

Should have reported your parents for violating child labour AND minimum wage laws dude. Besides, finders keepers.

@Guivi99Druid Жыл бұрын

Five dollars IN THIS ECONOMY YOU BETTER Be talking ABOUT THE 1960’S CUZ THATS CAP

@porcus123 Жыл бұрын

Wasnt this the time a jet flew directly against the Pentagon on the exact place they were storing the investigation on this?

@CivilizedWasteland Жыл бұрын

Ya I'm not surprised he never mentioned it though wouldn't want people to question anything.

@apollo1694 Жыл бұрын

You're joking right? They could've just started a fire. But sure... The easiest way is to literally fly a jet into a building!

@porcus123 Жыл бұрын

@@apollo1694 that was their excuse not mine

@vaporware666 Жыл бұрын

@@apollo1694 kill two birds with one stone and kick off one of the greatest kick back schemes of all time

@apollo1694 Жыл бұрын

@@porcus123 The government isn't dumb enough to spend time and effort on using a entire fucking plane to destroy a few documents when a lighter would do the same job.

@farfa2937 Жыл бұрын

As Asmongold always says: "We have audited ourselves and found nothing wrong".

@refusingtoconform Жыл бұрын

And now Activision too.

@farfa2937 Жыл бұрын

@@refusingtoconform Yeah that’s why he says it, but I felt it applied here too.

@SDSypher 10 ай бұрын

All of a sudden, everywhere online says that all of this flat out just never happened. All you see is fact checker sites. Not even saying that just the conspiracy aspects are wrong. They’re saying all of this *NEVER HAPPENED* . Literally a month or two ago none of those sites were there.

@youngloenoe Жыл бұрын

Doesn't get more corrupt than this. Rotten to the core.

@mordet2 Жыл бұрын

I'm no government or military supporter, don't get me wrong. But it does. it really, Really does.

@Ashadow700 Жыл бұрын

Actually things can get more corrupt than this. Much, much more.

@apollo1694 Жыл бұрын

Did you even watch the video? This is terrible accounting, not corruption.

@benshelton7529 Жыл бұрын

@@apollo1694 it's called diversion you create terrible accounting in order for mass corruption to be possible. It removes culpability. Predators and Pimps do it all the time. Basic Manipulative psychology

@alwilson3204 2 ай бұрын

@@Ashadow700 Taking a close study of the Biden Admin will prove that.

@kyleolsenwalsh Жыл бұрын

accounting office blows up next day at the pentagon

@pg8948 Жыл бұрын

Please remove the music, I'm having a hard time hearing your voice in the latest videos

@cptrelentless80085 Жыл бұрын

PARDON?!

@neonbunnies9596 Жыл бұрын

You can use captions to help see what's he's saying but yeah he needs to mix his audio better

@RenanSalesBarros Жыл бұрын

Indeed. Way too loud music. I never comment on KZfaq videos but this channel is great and I think it deserves some constructive feedback.

@HassanKhan-dx3ng Жыл бұрын

While that's a legitimate complaint often on this platform, in this video if you're having this issue, honestly I'm recommending an audiometry test... I might be a real Dr.

@jirivanbergen5092 Жыл бұрын

It's just overly loud on this video. Yes, I can hear him, but constantly distracted by the music. Never noticed it before on videos from this channel, but on this one it's really annoying and noticeable for me even before reading this comment..

@KITEHIGHSTYLE 6 ай бұрын

Once again corruption disguised as incompetence.

@lifeisshort.9869 9 ай бұрын

Man I'm not even an American, but this is makes me really angry! The IRS make sure every hard working American pay their taxes, and yet they don't pay the slightest attention to where all that money goes. As a tax payer I think we do have the right to know exactly where our money went and even where it should be spent (to some extent of course).

@soylessinseattle8336 2 ай бұрын

The video would disagree. As long as it's spent on something "Top Secret," it's justifiable because of "national security," and we need to just accept that.

@DeeHodgson-em4jx 10 ай бұрын

they know what was going to happen on September 11th. My mother served in a branch of the army in Canada and was honorably discharged for reasons not to be disclosed. A few years later she got a call on September 10th 2001 asking if her uniform size was the same as when she served. Then the next day, after the attack, someone had shown up at her door, given her a uniform, and said "you're on call."

@hybbfr727 3 ай бұрын

was the call before or after the attack?

@drexii9 Күн бұрын

@@hybbfr727he literally answers your question in his original comment dude. Please read more carefully, he legitimately said after. Twice.

@OwnedByTheState 9 ай бұрын

If this kind of inexpicable circumstance lined up so perfectly in any of our civilian/business life, we would be heavily investigated. If your business/house burned down as you were going through bankruptcy, you can bet that your insurance company would smell a rat.

@HaveAGoodDayFk.U Жыл бұрын

The narrator doesn't know what hes talking about. I was a private contractor in Kandahar and saw 3 foot coaxial cables going that cost $300. Everything I saw was so overpriced. Another was 1" wooden dowels was going for $30 each. Every satellite system I worked on cost more than a million dollars and my company has better ones that cost $150,000.. Another one was chairs, nothing special a typical computer chair cost $1,200.. It's really a gift on how much money they throw away. I couldn't do it if I tried. Then again, that's how they keep getting the government to give them more and more money to spend on the military every year. That's why any business that's involved with the military are all million dollar companies. Owe you need a bic pen. That'll be $35 a piece and you want 2 million of them, no problem. It's gross and so treasonous against any American that pays fed taxes.

@Floof_Factory Жыл бұрын

If the DOD came out with a video just like this then it would be easy to explain to the public. Instead they make speeches that are politicized with some vague things that no one fully can comprehend

@OllieWales Жыл бұрын

That's because they dont want to admit it's the fault of their own shitty accountancy.

@hybbfr727 3 ай бұрын

@@OllieWales honestly i'd respect them more if they owned up

@kingstonwvnerfer211 Жыл бұрын

That’s crazy how 2.3 trillion was lost on September 10th and then the next day an huge attack that changed the world

@kev7co Жыл бұрын

On purpose

@gokhant.450 Жыл бұрын

Smart move tho gave them cover and a reason to invade iraq for the oil

@erika-chan7622 Жыл бұрын

Shhhhhhhhhhhhhhhhhh you are not supposed to know that goy Oy vey!

@thesebadseeds 11 ай бұрын

Dancing Israelis. 😺

@kenwalton80 10 ай бұрын

The covert demolition of all financial records. Nicely planned

@patrickellis2529 Жыл бұрын

The Public was outraged????? The Public didn't even know!! Give me a break!!!!!

@Roccofan Жыл бұрын

Those of us who live in the DC area weren’t shocked by the $2.3T number. We know how convoluted government can be and we also know the amount of money the government spends. Those mansions in Northern, Virginia didn’t build themselves.

@davideguerra743 Жыл бұрын

In the current case, a significant portion of the inflation is caused by supply chain disruptions. To reduce current inflation the government should be using tax incentives to compensate consumers for delaying their purchase of homes and other high priced items until next year and the following years, when the supply chains should be more stable, and our productive capacity will be restored. This would allow people to save more money, while demand is reduced, instead of the Fed taking away their money to reduce demand.

@decus9544 Жыл бұрын

No, the vast majority of the current inflation was caused by 8 trillion dollars of cheap money being printed. Supply chain issues accounted for something like 3% of the inflation in the few months after the pandemic, most of that has passed already and the remainder is money printing. Tax breaks to consumers will only increase demand and increase the money in circulation as well as it's velocity, which would only further drive up inflation.

@Dylan-zx6ji Жыл бұрын

Inflation isn't caused by supply chain disruptions....

@Thekingmaker Жыл бұрын

This video definitely DOES NOT explain where 2.3 trillion went.🤷🏾‍♂️

@Manny-ok7fv 11 ай бұрын

Brother - the military is not what people think it is. I used to be in charge of the medical supplies. One day we got notice that we had $2M to spend in that one day or we were going to lose our funding. Another time we had guys fly in Taco Bell to our OP just because they didn’t want to let us go back to the rear. Imagine what that costed with the crew, fuel, training, etc. it happens all the time

@michael85225 Жыл бұрын

How convenient it was for a major terrorist attack to occur the very next day after this came to light. In 24 hours everyone forgot about that missing money.

@BearDemocracy 7 ай бұрын

That's a roundabout way of saying "corruption."

@chronicillz1879 Жыл бұрын

and then a plane hit into the part of the pentagon where they were doing the accounting

@jayrok1505 Жыл бұрын

Yeah they knocked down two buildings and brow up another about it.....

@littleponygirl666 Жыл бұрын

Silent explosives can be expensive.

@jtgd Жыл бұрын

Because that totally did something…. Why would they need to kill thousands to cover up something publicly stated ?

@jtgd Жыл бұрын

@@littleponygirl666 non existent explosives are free

@vyiz1004 Жыл бұрын

@@jtgd because you won't dare do something to hold them accountable.

@jayrok1505 Жыл бұрын

@@jtgd great question. Just like how they found 19 passports IN THE RUBBLE OF TWO BUILDINGS.... after the explosion and collapse. But it's a great question tho

@stevezane7920 Жыл бұрын

And the building responsible for investigating the missing money collapsed the next day.

@quandaledingle3565 Жыл бұрын

Very opportune day you say huh, what a coincidence

@Mineo644 Жыл бұрын

How lucky the room that blew up at pentagon was accounting room

@yogibear5649 7 ай бұрын

It's not lost if it's realized in somebody's pocket

@1227leochin 11 ай бұрын

The world's biggest thief ☹️ That's our money.

@SDSypher 10 ай бұрын

That amount of money is the equivalent of a little over eight thousand dollars per citizen at that time.

@rentstoohigh1587 Жыл бұрын

Isn't it weird that the building that files were housed in burnt down

@aaronthomas6955 Жыл бұрын

Why didn’t you cover the fact that the side of the pentagon that was hit was the same part of the building they held the accounting records? Coincidence, huh?

@melancholypuppy3595 10 ай бұрын

And everything burned but the Pristine Passport

@SDSypher 10 ай бұрын

not to mention that there was literally zero plane wreckage on site. and the fact that there is absolutely zero footage of the crash. Not even so much as a CCTV clip that shows a plane in the distance flying in the direction of the pentagon. Meanwhile there were people with dashcams literally across New York that still caught the towers being hit on camera in the distance. The pentagon didn’t even so much as have 240p traffic cam footage.

@aknetworkedit 7 ай бұрын

I once had 2 Trillion dollars and lost it all in a bet.

@bradleysandberg7756 Жыл бұрын

The moment I hear the word "conspiracy" is when I start to pay attention. I've also heard rumors about a missile and a certain building holding records. People on the ground swore they saw a missile but unfortunately there are no cameras at that location.

@AM-mu2kv Жыл бұрын

There are but it was conveniently down for maintenance

@carriehoward4166 Жыл бұрын

They're is a video that shows what appears to NOT be a plane. It is out there, just have to dig for it.

@jakethe3rd766 3 ай бұрын

@@carriehoward4166yo could you point me in a direction where a cid like that might be?

@tezzla6358 3 ай бұрын

@@jakethe3rd766 to my left

@alwilson3204 2 ай бұрын

@bradleysandberg7756 There were lots of cameras, but the videos were immediately confiscated from the various locations and never released.

@sennmoe5 Жыл бұрын

Then a missle hit the pentagon right in the financial records dept.

@CRAZYHORSE19682003 Жыл бұрын

LOL That is internet BS dude. Flight 77 hit the Naval meteorology offices. You know the guys who predict upcoming weather for the Navy. I was an eyewitness and I can 100% confirm it was a twin engine commercial aircraft.

@ChocolateMilkCultLeader Жыл бұрын

This channel should be showed to everyone. Some of the best content out there

@likebutton3136 Жыл бұрын

I remember as a soldier signing for equipment I got in Afghanistan you could look down the list and see what stuff costs. Every once in awhile you would see something that just makes no logical sense. I remember a feed chute adapter for one of the machine guns was $3,000 it was literally a bent and tack welded piece of sheet metal the size of a deck of cards. Either money for stuff like that is funneled off and put into a undisclosed black budget fund for secret projects or it's just complete stupidity and theft.

@savagedick1462 Жыл бұрын

Just like a mafia but on a scientific level.

@truthspasmmedia6822 Жыл бұрын

Probably both

@aceofspades9503 7 ай бұрын

i'm betting stupidity. A vendor convinced a purchaser that it was worth this amount of money and is likely making a 95% profit.

@polricart5650 11 ай бұрын

10:50 'It's dangerous to believe that the timing of the announcement was anything other than a coincidence'... GIVE ME A BREAK

@SDSypher 10 ай бұрын

@user_kH9bw3ns1 Ай бұрын

he said it right out of his handler's mouth LOL.

@RetroBerner Жыл бұрын

Unless that toilet seat is made of unobtanium, I don't care how many technicians it takes to install. Obviously contractors pad the bills, because they know that the government will pay it.

@BikeHelmetMk2 Жыл бұрын

The contractor probably needed to obtain security clearance and pass background checks and jump through other hoops, to make sure that a terrorist technician didn't slip in to sabotage the toilet and destroy the plane in flight. I have learned that as soon as the government is involved, suddenly your costs go up. Oh, you want to tutor children for the schoolboard? Not a problem. Here's your bill for $2600/yr vehicle insurance. (In case you transport children while tutoring them.) Don't forget to pay your CRC's and other licensing fees. Oh, we only communicate via GSuite, so you'll have to be added to our system and pay for that. Oh, we lost your certificates - just apply and pay a few hundred to get them again from your licensing bodies, and then send them over so that we can lose them again. Thanks. No we don't take PDF scans.

@apollo1694 Жыл бұрын

When you consider the fact that the toilet seats are custom made to fit the specific dimensions of a cargo plane, you realize that they literally needed to create a completely new production line for the seats. And surprise, making a new production line costs a lot of money, especially when the demand is so low.

@Invizive Жыл бұрын

@@apollo1694 so, a bunch of money is a solution to a problem they engineered themselves

@apollo1694 Жыл бұрын

@@Invizive How would you solve the issue? Have the airmen shit in bags instead?

@benshelton7529 Жыл бұрын

@@Invizive exactly! That's terrible logic

@zacnewman7140 Жыл бұрын

I'm pleased, as someone who knows what he's talking about, to say that How Money Works has this spot on and I feel no obligation to clarify or correct anything about it.

@AustinFragomen-wy8sy 7 ай бұрын

Same here! I work for large contractor and it deeply frustrates me to see people’s misguided cry for MORE oversight. If I have to comply with another MIL spec or see the addition of ANOTHER FP&A team member for the program office to comply with even more strict earned value requirements the product may never be made

@2x2is22 Жыл бұрын

11:09 It is incompetence, I've seen it with my own eyes. It's a brain drain issue is what it is. Same way developing countries lose their skilled labor pool to the US because that's where they get paid better, so to does the DoD to the private sector. Accounting is a fairly well skilled trade and the ones that are good at it, and could sort out that mess, are all working in the private sector making bank

@guyheavengym Жыл бұрын

“The public was furious to say the least.” Funny part is, today people have been demoralized enough to not have an ounce of care if something like that happened now. Too many tiktik zombies and druggies now.

@VeinySausage Жыл бұрын

It’s not like 2.3 trillion is in your wallet and just falls out of your pocket…they definitely had to of known where it went

@billycollins1757 2 ай бұрын

No 10000$ is insane. Crooked politicians.

@thewiirocks Жыл бұрын

The funny thing about all the War Dogs references is that those guys were a perfect example of how military acquisitions were _supposed_ to work. Entrepreneurs looking to hustle take on the big guy and provide contracts at a lower cost and higher quality. They were doing so well until they decided to make a shady deal and didn’t handle it correctly.

@breadman32398 Жыл бұрын

Once you learn just a bit about aerospace manufacturing and design, and government procurement. These dumb conspiracy theories become impossible.

@Cecil_Augus Жыл бұрын

Why?

@messworkz1631 Жыл бұрын

@@Cecil_Augus aerospace is an expensive, vendor-locked industry; government doesn't really have any other options to buy this products and has already dedicated the money to do so, so might as well begrudgingly pay the bill

@dbadaddy7386 Жыл бұрын

NEVER assume malice where incompetence and ignorance can completely explain the issue.

@josecipriano3048 Жыл бұрын

I never assume incompetence where malice and corruption can explain it even better.

@dbadaddy7386 Жыл бұрын

@@josecipriano3048 Incompetence is a much more common element, exceeded only by stupidity. The vast majority live by the philosophy "Hey Verne, hold my beer, watch this!" All of us do that occasionally, but there are too many who never go beyond that, especially when there is no accountability on the part of the people giving orders.

@alwilson3204 2 ай бұрын

Only a fool would think that completely explains such a huge mistake.

@alwilson3204 2 ай бұрын

@@dbadaddy7386 Wrong on this one AGAIN. This was no sort of 'incompetence.' Stop while you were behind!

@notorioustori Жыл бұрын

FINALLY. Someone is talking about this.

@anonlegion9096 Жыл бұрын

Nope, $2.3T is not something that just get lost like that through bad accounting. Or are you suggesting that for that entire year the book keepers just didn't log anything? Because that is basically what that tantamounts to

@oswaldjames6295 Жыл бұрын

You mean 4+ years; based on their "annual spend".😂

@davidkrapensits4367 Жыл бұрын

@@oswaldjames6295 not to mention that the branch of the Pentagon tasked with investigating this was hit by a plane 🤦‍♂️

@ukrd94 Жыл бұрын

Had a professor tell me once that they are told to use it or lose it so when the time was getting closer, they would buy new vehicles and a ton of crap they didn't use. Then repeat next year.

@turdferguson8704 Жыл бұрын

To think this could ever be an accounting error is beyond naive. The US military budget for the 20 years prior to that year was between 3 and 7% of GDP. Let’s call it 5%. This would mean they lost their entire budget for the last 5 years if not more. This is an ungodly sum of money.

@johnsnowwww Жыл бұрын

There are no such things as coincidences.

@SurpriseJnr Жыл бұрын

Love this style of video😇

@Marqan Жыл бұрын

A great man in Area 51 once said: "You dont actually think they spent $20'000 on a hammer, $30'000 on a toilet seat, do you?!"

@norbertk.5328 Жыл бұрын

Independence day.

@forddon Жыл бұрын

One of the major reasons you see things like $10,000 hammers is that the hammer is invoiced along with a lot of more expensive items, and that the government accountants require the supplier to divide administration cost and processing fees equally, so a $4 million jet engine and a $10 hammer included to take it out of the crate have a $20,000 administration fee which is split equally between each item. What usually happens when you hear some audit revealed a $10,000 hammer - is another audit asks the supplier why they sold the government a $10,000 hammer, and the supplier proves they only charged $10 and that never makes the news.

@MetaManager1 Жыл бұрын

Yea cause they use a $10 hammer to take a 4 million dollar jet engine out of a crate.. got it 👌

@flailmail7069 11 ай бұрын

Sounds like inefficiency

@shafeenshahid Жыл бұрын

Great video keep it coming

@richardmarco5344 Жыл бұрын

I am so glad no other govt agencies waste money.

@doom-mantia Жыл бұрын

Hi HMW, recent subscriber here and have to say I've enjoyed everything I've watched of your channel so far. If I could share some feedback that I hope you could consider - the format of reading a script over relevant video clips can be powerful but I often find your videos tend to do it in a way where 1. the full video transitions between many short clips fast 2. the clip is sometimes only loosly related to what you're narrating. This makes viewing and understanding the content a little jarring for me and I have to even rewind sometimes to keep up since finance and business is something I'm overall new to. Would be helpful if you used each video clip over a longer duration to keep things easier to follow. Thanks for considering and keep up the great work.

@prophetherbandderp2733 Жыл бұрын

man that background music, it almost gave me headache.

@parsec3984 Жыл бұрын

Here before this video is taken down 🙏 love the videos man

@FinancialShinanigan Жыл бұрын

This video is sponsored by the Department of Defense

@danielhale1 Жыл бұрын

Every large organization should have regular audits. It'd be a hell of a fight to push it through, and politicians would need to steel themselves against all sorts of political attacks (including the military threatening to close production facilities in their state and cost them jobs), but it'd be worth it. I think our military is a wonderful organization, and even so, it would benefit from the internal efficiencies and external good will that comes with proper audits and accountability.

@weebmaster9591 Жыл бұрын

I too love the industrialization of murder on scales beyond human comprehension

@josephdouglas2783 7 ай бұрын

The pentagon has failed 5 audits.

@wilfriedvomacka1783 Жыл бұрын

Conclusion of this video: $2.3 trilion missing? No biggie.

@scum-scum Жыл бұрын

a) Is the military too big an organization to keep books for? b) Are the people who do it incompetent? c) Are they willfully keeping bad records to cover their bad behavior? Oh, i'm reasonably sure that all 3 are true, but it'd be difficult to guess what percentage of the $2.3T was "lost" to which of the three causes. But i can bet that if we did have all the numbers not a single one of those 3 categories would be at zero dollars and zero cents.

@kingknog9318 Жыл бұрын

Answer is B (coming from a fiscal marine) The accounts are troops and government employees, not actually certified accounts and the goal is to spend not save

@lamars2486 7 ай бұрын

Those C5s were packed full of cash, they flew in at the same time to "buy local warlords" in IRAQ and IRAN. 😮😮😮😮 THIS WAS ON THE EVENING NEWS FOLKS.

@AntiSocialismo50 Жыл бұрын

I got mad when I lost 2 dollars, imagine losing 2.3 trillions

@Benjamin.365 Жыл бұрын

When it comes to investing, we want our money to grow with the highest rates of return, and the lowest risk possible. While there are no shortcuts to getting rich, but there are smart ways to go about it.

@Michael-xe7xo Жыл бұрын

Yes that's true

@Michael-xe7xo Жыл бұрын

But i recommended Mrs Sophia she's really my bitcion trading manager

@fredcharles9267 Жыл бұрын

@@Michael-xe7xoWow I' m just shock someone mentioned expert Mrs Sophia I thought I'm the only one trading with her

@fredcharles9267 Жыл бұрын

She helped me recover what I lost trying to trade myself

@greatffgyv Жыл бұрын

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Sophia

@tyronegreen6165 10 ай бұрын

I We thank you, We thank you All ❤️‍🔥 😊 🙏🏿 🙏🏼🙏🙏🏻🙏🏾🙏🏻

@KlausDemosten Жыл бұрын

S/O for the great content

@dbadaddy7386 Жыл бұрын

"milspec" explains most of it. I had a friend who worked in procurement for a military supplier, and literally, if the military wants to rebuy a hammer that it bought the day before from the same supplier from the same batch of hammers, there needs to be a bid process and the supplier needs to prove that the hammer fits the specifications AND that the supplier is qualified to sell the hammer AND also fulfills diversity requirements AND that the manufacturer also is qualified to make the hammer AND also follows certain diversity requirements. He said his company had a minimum contract amount, whether it was one hammer or a thousand, because it could take three people more than two months to recertify stuff that was JUST certified. A little graft would be much less expensive.

@richardede9594 Жыл бұрын

I like how sure you are about what happened.

@wipmediaMickey Жыл бұрын

Love the channel I’m in support

@matthewhenwood1009 Жыл бұрын

Very interesting video thanks!

@whatwhat9519 Жыл бұрын

I’ve seen this behavior in a lot of other situations but it funny how when something benefits the military (or the right person (aka the person where everything must benefit them and them alone)) there’s always a way and every justification is the right one while finding the money or a way to solve another problem that’s not involving the military or benefit them no justification is ever good enough or there is never ever enough money for it

@getnohappy Жыл бұрын

Honestly, you summed up the basic logical error virtually all conspiracy theorists make there: that because someone uses an event to their advantage, it somehow means they were behind it. Nope, the boring explanation is, whatever happens, someone will make it work for them.

@ajrobbins368 Жыл бұрын

Thank you! I've been looking for those words for a while now. I notice that people often manufacture cause and effect without any help from reality. Any impactful event simply MUST be explained, so it has to be intentional, planned, premeditated in some way.

@mrknarf4438 Жыл бұрын

Well, you gotta admit the timing was quite convenient...

@uncreativename9936 Жыл бұрын

I bet you believe Lucky Larry really was just lucky too huh?

@hungryteddy1657 Жыл бұрын

Stupid take.

@soylessinseattle8336 2 ай бұрын

It's either accounted for or it's not. If it's not, why did our national debt go up according to if it was accounted for? If it's not accounted for, why are we totally, definitely, unquestionably paying for it? If we find out it was "mismanaged," don't we the taxpayers get a refund? If we do, WHO is responsible to pay that money back?! WHO is footing the bill for that "simply mismanaged" money?

@KlausKinskiPsycho Жыл бұрын

"They're about to catch us... what if we send somebody to take over a plane?"

@CheesyBallz_ 4 ай бұрын

The fact this was 1 day after 911 is just crazy 💀

@beetlebg3759 4 ай бұрын

What do you think? Was this planned or just a simple coincidence? Remember 2.3 trillion dollars lost and announced at 10th September 2001 and 9/11 happening the next day.

@jade7631 2 ай бұрын

What is crazier is the plane that hit the pentagon “suspiciously” hit the sector that was investigating this specific matter.

@dawndesmond 2 ай бұрын

day before

@zinjanthropus322 Жыл бұрын

The team that was supposed to audit them happened to be in the exact part of the Pentagon that got hit by a plane on 911, they all died there except the head of the team....who just happened to be in the plane that hit the building. 2.3trillion is a lot of money.

@deussivenatura5805 Жыл бұрын

Hey could you give me a link to the info about the auditors dying fom the pentagon being hit, I'm having diffuculties finding it on google.

@zinjanthropus322 Жыл бұрын

@@deussivenatura5805 It's in the official 911 committee documents.

@BikeHelmetMk2 Жыл бұрын

@@zinjanthropus322 Do you have a quote or page reference? The report is easy to find from official sources, but it's huge. Some direction would shrink the haystack and make verifying that easier.

@drkdaze7862 Жыл бұрын

"It's unfortunate that the plane hit that area and it definitely justifies tin foil ppl, but it would be NAIVE to not take into account that it could have a coincidence" - @howmoneyworks probably

@flamingzucchini7843 Жыл бұрын

@@zinjanthropus322 still waiting for specific reference

@mohandasjung Жыл бұрын

Corruption usually works trough cracks like this.

@tekaha7152 6 ай бұрын

They have the technology to track anyone and anything in the world, but they can't find 2.3 trillion dollars 🤣🤣🤣🤣🤣🤣

@jesavius Жыл бұрын

Okay, I’m confused. How are we paying for this? Because when Medicare for all comes up all I get is “How are you going to pay for it?” Are we being gas lighted?

@kojorichardson4283 Жыл бұрын

They are paying for this because the US is monetarily sovereign and the Fed can create money whenever it wants by passing bills. They don't use our tax money. Only states use tax dollars and money from the Fed because states can't create money. We've been lied to our whole lives. Inflation from govt spending is not impossible but we haven't come close to testing that threshold.

@benshelton7529 Жыл бұрын

DUH Duh Duh! Been bamboozled for years military spending is the highest by a mile and it's not even close. Our chump taxes isn't paying for anything really. They just keep printing monolog money which increases our chances of losing our expensive financed property, so that the banks can take it.

@oswaldjames6295 Жыл бұрын

Top of the Class,You!😂❤

@Chamelionroses Жыл бұрын

Money often disappears for governments often it seems. Also those traditional government shut downs in the US hurt financially as well.

@Greenstreet_Utes Жыл бұрын

The 10k toilet seat is still stupid. Reminds me of the old funny. “The US spent a million dollars to invent a pen that would work in space. The Russians used a pencil”

@thomasmcd5862 Жыл бұрын

According to economist Mark Skidmore at Michigan State U, the real missing money is close to 21 trillion.

@bloodspartan300 Жыл бұрын

The 🇺🇸 GDP is fraudulent. And the European union was mad at greece for cooking the books... and greece was severely punished for it but the petrol dollar keeps cooking the books every year

@timisin1238 Жыл бұрын

“This isn’t about the war. This is about making money.” - how I’m trading for the next few years.

@Tao_Peace Жыл бұрын

What I can’t believe is that this tool of a narrator is actually condoning this mistake of missing TRILLIONS in layman’s terms of SH** happens! Unbelievable 🤦‍♂️

@BriefNerdOriginal Жыл бұрын

I wonder how can humanity survive, given all the money spent on ways to annihilate humanity

@kev7co Жыл бұрын

That money is still out there It doesn’t disappear , it didn’t burn It’s there somewhere

@BofaDee33 Жыл бұрын

When I finally got my top secret clearance the first thing I did was log onto the top secret computer to find something cool. The hard drive was empty. There was nothing on it, and even having a TS clearance doesn't get you very far in finding out what is actually classified and what is supposedly top secret.

@icyblue4541 Жыл бұрын

Truths are hidden in plain sight.

@afnankhan43001 Жыл бұрын

Heroic soldiers who fought a war on their leader's word simply to find out that there were no weapons of Mass destruction and that they had killed about 1.5 million civilians.

@AM-mu2kv Жыл бұрын

And their day will come one day