The World Bank — Who We Are. As they say — we’re “Accountable to ourselves”.
By Jo Nova
The World Bank is the largest climate funding multinational blob on Earth, and the world is about to end, the oceans are about to boil, but no one at the World Bank can explain where billions of dollars worth of the Earth saving funds have ended up. It’s almost as if no one there gives a toss about the climate. Indeed, if the World Bank was a giant parasitic squid feeding off the taxpayers of the West, it might look just like this.
A new Oxfam report shows that over six years, $24,000 million dollars (at least) has probably gone missing off the balance sheets, but it could be as much as $41 billion. Essentially, the World Bank budgeted to spend a lot of money, but no one bothered to track whether that money was spent, whether the budget blew out, or whether it never happened and the team went surfing in Costa Rica. Imagine if we could do our taxes this way? Indeed, it’s a bit rich to say the money was “missing off balance sheets” because apparently there weren’t any balance sheets, not for expenditures.
Oxfam can only guess at the missing sums because they investigated other World Bank projects and found the final cost differed from the planned cost by between 26 to 43%. So they used that to come up with a ballpark figure of the size of the missing millions. It’s that bad. We can’t even say how much is missing. One insider told the New York Post, “it could be twice or ten times more”.
The supranational unaccountable entities like the World Bank, the UN, are surely the great attractor of global freeloaders. Like a supermagnet for people who like spending other people’s money:
World Bank bureaucrats lost track of at least $24B in funds fighting climate change: ‘Could be twice or 10 times more’
By James Franey, New York Post
What if it wasn’t bungling — who would know?
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.
The agency’s audit showed “a lack of traceable spending” over the past seven years — partly because of an oddball accounting practice in which the bank accounts for its climate financing at the time of a project’s approval rather than at the time of project completion,…
In the report: Climate Finance Unchecked Oxfam discovered that it was extremely difficult to get simple answers:
“We had to sift through layers of complex and incomplete reports, and even then, the data was full of gaps and inconsistencies. The fact that this information is so hard to access and understand is alarming —it shouldn’t take a team of professional researchers to figure out how billions of dollars meant for climate action are being spent.
This could all be sorted out in five minutes. All it would take is for our governments to say “No more money for the World Bank until it sorts out reporting”, and next thing you know the World Bank would be filling out tax returns. But the odds of this happening are like an asteroid strike — unless Donald Trump wins the US election (above the margin of cheating). Mere mortal politicians who ask hard questions, not only risk their post-political Blob career with the UN-WEF-World-Bank-IMF-FAO-WHO-IAEA-or-OECD, they might feel the force of a World Bank report telling their citizens how they mismanaged their own economy, and who wants that?
The amounts of money are mind-blowing
More agitprop from the world banks website. Who We Are (not).
The Oxfam writers, bless them, are slightly baffled. With the world in dire straits (as they see it) they can’t figure out why the World Bank is not treating every dollar like a diamond.
…the sums needed are vast and growing: According to the UN’s Adaptation Gap Report 2023, the amount needed for
adaptation finance alone stands at between US$215 billion and US$387 billion a year.
There is so much potential. If the World Bank got what it asked for, and spent 90% in an honest way, there would still be $30 billion dollars left to throw parties. But if no one is tracking any of it, why not think big?
“This is the wild, wild west of finance,” said Mark Joven, Philippines Department of Finance undersecretary, who represents the country at U.N. climate talks. “Essentially, whatever they call climate finance is climate finance.”
“You cannot really follow the money, track the money, track the impact,” said Romain Weikmans, a senior research fellow specializing in climate finance at the Finnish Institute of International Affairs.
–“Rich nations say they’re spending billions to fight climate change. Some money is going to strange places.” Reuters.
Big Government feeds Bigger Government
The Globalist Blob not just The Promised Land for political grifters, on a practical basis, the more they can siphon from the people towards the blob — the more friends they make in the international blob-glitterati, and the better chance they have of being offered the next great blob job offer.
Medium level domestic bureaucrats are surely looking to the land of milk and honey, which is where taxpayer funds escape the event horizon of audits and elections. Only there, can the parasites do whatever they want with other people’s money.
Download Oxfam’s new report “Climate Finance Unchecked.”
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I believe this scene continues with a cashier walking up to the “shocked” person and handing them their “winnings” from the missing 24 to 41 billion dollars.
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All these people running around searching for the missing money. It’s only money. Does anyone really think anyone is looking for the money?
There is no need to search for it. Look at who can fly private jets to environmental meetings. Or who can afford the best overseas holidays and fine dining in the countries where the peasants eat what they can find. Anyone with more than a pair of neurons knows where the money went. It landed exactly as intended. All votes, even at the UN, need to be funded.
Besides….. it’s only money. You can just print more if you lose it, ask Harris, she’ll tell you about your burden of what went before and where your burden is today and how unburdened you’ll be tomorrow now that your burden has been lost.
And I didn’t vote for them.
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A great expose: “climate funding”!
And while I am appalled by the recent abuse of King Charles by Senator? Thorpe we should keep in mind the forces behind this devious activity of milking Climate Change for all it’s worth.
King Charles has flown from Sydney to the endangered island of Saamoah.
Why has he gone there?
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Why? Because we booted out the German colonialists back in the start of WW1. It’s an odd family business but hey, as long as the right ‘n’ proper Family™️ wears the crown [Spanish: corona] then the sun will never set…
A huge cruise liner is tied-up alongside Apia’s wharf: not sure if it’s to accommodate the upper crust of the world’s public servants [sic] or for Charlie & his bit in case the islands sink and they can’t fly out – wait – haven’t they sunk already? Oh off course, ‘twas Commander DEI Gray’s ‘folly’ which sunk.
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Yeah, I laugh at conservative monarchists and their loopy traditions revering a loopy monarch. I mean Tony Abbott going totally priapic over royalty really takes it. The slime and hypocrisy with Charlie is there for all to see.
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With Charles leading the Klimate Katastrophism Konference the focus is on “reparations” from we workers, and tax payers, to the “leaders” of the soon to be sinking coral islands.
We did it, so we gotta pay for the damage.
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Of course. The other fiscal elephant in the room is funding a totally futile war in Ukraine for hundreds of billions of dollars to prevent the Biden clan being jailed for paltry millions in Backsheesh.
Once you fail to deter and punish manifest fraud, there is no way society can survive.
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Who knows where all the billions in Green certificates and Australian Carbon credits ends up? None of this is supervised by parliament because it is all illegally off budget. It’s not a tax. As far as most people know, it doesn’t exist. They just pay for electricity. And the money disappears down a chute with Government enforced payments to third parties for non existent ‘certificates’. And no one cares.
Certainly no one cares if it does a jot of good for the climate. The ‘climate’ is fine, isn’t it? A hot day here, a storm there, a flood or a drought. That’s just the irrational story behind Government run and legislated daylight robbery. What happens to the billions is of no concern to anyone except the recipients because the victims have no idea.
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TdeF,
Your view (and mine) of this electricity scheme could be informally correct but fireproof in law because it has had legal protection put around it by lawyers who believe in it.
On the face of it, this diversion of the money of taxpayers can be seen as large, synthetic, not needed and illegal. It would seem to fit the needs to allow inquiry by some watchdog, which one I have never researched.
It could even be the case that like the World Bank allegations of spending the legal protection is created by classing the money as for “climate change”, a protected species beyond watchdogs.
I can only suggest that to move past the present impasse of merely writing allegations, you, I, we all need to gather top level advice from legal sources. I have the impression that the law as we used to see it, in simple terms of crime and punishment, is no the same any more. We might not understand the modern reasons how these electric charges are legally protected. Geoff S
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The law on the face of it is not so different to engineering. Laws are as much as possible written in plain English. And their intent is made clear. But people believe governments can legislate anything they like. This is where they are wrong.
In this case we have the English legal tradition where everything is legal unless there is a law against it. We do not need a Bill of Rights. We do not need a fashionable Australian Human Rights Commission. The AHRC has no power in law except harassment, which is prolific. We certainly do not need laws like Ireland to define sex as opposed to gender which used to be a synonym but is now about pyschology, not sex. All our existing laws are written on sex, not gender. Parliament keeps writing laws and no one tells you. But some of them are very wrong. Who is going to pick them up on it? Even the people who sign off on them don’t read them.
Since Magna Carta it has been an essential principle that the King or a King’s Government cannot force the enrichment of third parties. Which is precisely what Green Certificates (LGCs, STCs) and Carbon Credits do. The government punishes anyone who does not buy and pay for them, but it never touches the money. So it’s not a tax which must go into General Revenue. So the whole edifice of hidden payments to unnamed parties is fundamentally illegal. If only because no one knows it is happening and no one reports on it and no one knows where the money goes or has any requirement to tell the Parliament. It is the wild wild West, highway robbery, not taxation. You don’t have to be a lawyer to understand this.
So then we have the farce that Julia Gillard says ‘there will not be a carbon tax in a Government I lead’ when there has been one in place for 24 years! And now the 35% tax on CO2, say on fuel in your next flights or the next truck in a mine or the next truck bringing goods to your house. And on sewage and glass and chemicals and steel making. You pay this 35% CO2 tax and you know nothing about it. And no questions are asked in parliament because parliament has no requirement to explain, document or report.
Most of the parliamentarians responsible for this massive ongoing and growing theft have no idea. And those who have say nothing. Not their business. There are paid public servants enforcing all this.
Now I think you would understand every word. Don’t expect lawyers to fix this. And even smart engineers are proposing the introducion of a massive Carbon Tax, with not the slightest idea that we already have the world’s biggest carbon taxes. Because they are illegal and hidden.
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And if you think high power commentators understand the law, consider Ross Garnaut’s new book, Let’s Tax Carbon. Does he even know about the Safeguard Mechanism 2023 or the Carbon Credits (Carbon Farming Initiative) Bill 2011 or the Renewable Energy (Electricity) Regulations 2001.
And if someone had the time, it would pay to look at reports like the Clean Energy department for trades in LGC and STC and the Green Energy ‘Market’ which gives prices. Or the projected income from the “Safeguard Mechanism” which will make all prices explode. Even sewage is carbon taxed as the MMBW is one of the nation’s ‘big polluters’. So watch what you eat.
How long will it be before you need Green certificates for breathing?
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I would also add that laws are not legal just because they pass parliament. In the US Federation, as in Australia, rights over health, medicine, police were not ceded. The ONLY responsibilities of the Federal Governments are currency, defence, international relations. Which is why moving to non coal/gas/oil based power matters. And the Federal signing of the Paris Agreement. This allows the gnomes of Canberra to control the country because the states have exclusive rights over mineral resources. So the Federal goverment tries to take control with Environmental laws.
A current example was when the US Supreme Court invalidated the Roe vs Wade legal precedent which had moved control over abortion nationally to the Federal Government.
They did not do this because Donald Trump did not like it. Or Catholics or anyone else. They did it because it was illegal.. The Federal Government had no ability to legislate in this matter because the States had not ceded control. But the pro abortion, anti religion lobby is making out this is a matter for the President. To pass such a Federal law would require all the states to first cede power over health or this specific matter.
We had the same thing with the GST, replacing State Sales taxes and other State taxes. All the states had to agree to this, cede taxation as they did with personal income tax. Prior to that each state had its own Sales Tax laws and Sales Tax departments. I know this because I fought them as each State tried to sales tax intellectual property like software. They argued that software was both goods and not goods. Either way, they wanted the cash.
So it is not a given that just because a law exists, it is lawful and would stand up to a High Court challenge. I believe all the Carbon certificates would fall over. Governments can bring in carbon taxes, but they are too cowardly to do so because the people do not want them. So the gnomes of Canberra and Whitehall have resorted to stealing.
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I do not know why the biggest victims of the Safeguard Mechanism do not challenge this law in the High Court. They would win. But too many companies are scared of retaliation by the biggest customer in most businesses, the Federal Government. In the US Democrats are now investigating price gouging by McDonalds after they allowed Donald Trump to show off in one store. You do not want to anger people who can cripple you with lawfare.
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At least that’s honest, but a bit redundant: “Ourselves” and “the People We Serve” are two names for the one group.
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I guess this comes as no surprise as we know the whole “climate change”is a hoax foisted on us by money hungry elites. The obvious matter here is that they plus the UN are totally uninterested in anything except money grabbing, are power mad and control freaks whom I suspect think they are going to live forever. Plainly just callous and mercenary.
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Be on the lookout for people with big grins, green credentials, and bulging wallets.
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I’ve been reading about this World Bank scandal for a few days and it doesn’t surprise me at all.
But for Aussies just as big a scandal is the CSIRO’s first report about the cost of Nuclear Energy for Australia.
Their first report said it would be 6 times as expensive, but after the CIS called them out their next guesstimate was about 2 times as expensive.
But they still tried to imply that Nuclear’s working life was only about 35 to 40 years and toxic W & S lasted twice as long as we now understand to be the truth.
See the CIS Nuclear expert Aidan Morrison and John Anderson at about 9.38 minutes at their talk.
And these donkeys are supposed to be Australia’s top Scientific organisation? Just unbelievable but true.
https://www.youtube.com/watch?v=hTlaG-4Wb5o
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“Australia’s top Scientific organisation”. If that’s true, we have no rudder. Science is decided by innumerate, opportunistic woke politicians. Soon we will be paying reparations. And when will China release the next virus? Or is that still Xenophobia or Conspiracy Theory?
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The CSIRO was (is) well aware that its’ Report on Nuclear Costs vs W&S Costs contains an essentially sleazy and deliberate trick.
W&S infrastructure has an operating life estimated from existing empirical data at about 30 years. Then that infrastructure needs replacing, including repeated capital costs.
The CSIRO Report applied that amortising period of 30 years to nuclear power station infrastructure, basing nuclear power costing on infrastructure replacement every 30 years as well, including the significantly higher capital costs.
Except that a 30 year life for nuclear infrastructure is about 1/3rd the empirical truth – and the CSIRO knows that full well. This deliberate bit of sleaze increased “estimated” nuclear power costs over an 80-90 year period at about 3 times the actual costs.
There are people (perhaps a majority) that will regard this point as inconsequential nitpicking. Hard experience over about 50 years doing DD valuations for funding of large scale projects has consistently shown that suppliers of large scale funding always specify a time period for return plus profit on the loan.
Given the initial high capital costs and longer development times for nuclear power, it seems likely that Govt involvement will be necessary initially. For the taxpayer, relief will be found in increasing private equity over a long period (say 50 years or so).
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Neville
Just read the section in R.V. Jones’s “Most Secret War” on the expert committees around the V1 flying bomb and V2 rocket investigations!
And the expert cocking up of the whole UK post war intelligence operations
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That is a most brilliant book.
And the so called ‘eggspurt’ Longitude Committee judging John Harrison’s Longitude Clocks.
Power to the People/Individuals.
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Almost all “green” funding goes into the pockets of corrupt officials, politicians, grifters or subsidy harvesters.
We have all of them in abundance in the Stupid Country (Australia) and they are everywhere else as well.
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Yes, the average JoNova reader has a very good idea where it’s all gone. As do the World Bank bureaucrats. As do many, many past and present Australian politicians and those in on the scam.
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hmmm……Albo just spent $4.3million on a house
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I hope the day never comes when an event occurs that is so grotesque that it leaves Jo struggling for words.
Meanwhile at least we can read this blog and get a smile for our money. It’s a shame that someone else gets the money.
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Mike,
My own choice for “so grotesque” is about the appointment and money for our latest Governor-General.
No details here, just the observation that there are many folk who can easily be demonstrated to have contributed far more value and original, real wealth to the advancement of Australia (modestly, without drum-beating).
Right now, the Australian economy relies heavily on mining. Mines are not there like dandelions, waiting to be picked. Mines are usually discovered by individuals in corporations, using a lot of investment, skill, science and dedication. The work covers big city negotiations to remote country-loving folk, giving a wide scope of who is a real Aussie. It is said that most exploration geoscientists spend their careers never finding a mine. (I was lucky, invited to help run an outfit that finally found 14 mines in Australia, whose products to date have been sold for tens of billions of $$$). But money is not the theme here, where money is used as an indicator of success in helping fellow Aussies.
Governors-General are there primarily to help fellow Aussies. Have a read of what the present one has done for a career, in comparison with quite a few “dirty miners” who have not sought the excessive luxuries of the office.
Geoff S
(Yes, I do have a chip on my shoulder, waiting for the next fortnightly pension to land in the bank.)
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Maybe the “team went surfing in Costa Rica” – gosh darn blow it all, I knew I should’ve signed-up with Team UN for all those brain-storming gatherings in warm tropical seaside resorts to, you know it, Save The Planet [pidjin: Big Money Gone].
Have we hit 999,900 yet?
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BTW everyone should watch Zoe Hilton of the CIS expose the donkeys at the CSIRO and silly B O Bowen.
The clueless donkey or so called CSIRO expert is a joke.
Zoe Hilton knows her stuff and tells us the truth in this 5 minute video.
https://www.cis.org.au/commentary/video/more-misinformation-from-csiro-on-nuclear/
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Neville, we know CSIRO are telling lies. They know that they are lying, they even know that we know they are lying. We also know that they know we know they are lying too, they of course know that we certainly know they know we know they are lying too as well, but they are still lying. (apologies to Aleksandr Solzhenitsyn)
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Excellent. Do the analysis properly or don’t do it at all.
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Is the World Bank hiring outsiders, or is it a family-only outfit?
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Wealth creation scheme from the start, and part of the new world order agenda
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In the Reuters article it mentions the Japanese funding a new coal plant in Bangladesh.
So why haven’t our energy bureaucrats, politicians etc used the same reasoning here in Australia? The Hazelwood power station in Victoria was de-commissioned (and eventually demolished) in 2017 losing 1600MW of cheap coal fired baseload electricity. We could have asked the Japanese to build us a new HELE type generator and claimed the reductions in CO2 emissions as a justification.
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The greens don’t want alternative solutions.
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Follow the Money into some Elite back pockets. Blazing the Audit Trail now has a new meaning.
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As that UK expression has it – that would be “a nice little earner”
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Arfur’ Daley concurs.
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Long ago I came to the conclusion that the only sense I could see behind all this climate handwringing was a great big money grift, but this takes the cake! The money laundering going on all around the world simply defies belief. We, the little people, are the serfs that fund it all. It is truly sad.
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Chris Martz asks the CC pants soilers ten mportant questions and I bet he won’t get many answers.
I’ve always asked donkeys why they want to return to the period of the LIA and most people respond with a blank stare.
I mean who wants to cut average life expectancy to just 30 years or have much lower real incomes or no phones or telly or internet or hospitals or a lot less education or literacy or air travel or cars or a modern weather forecast or 400,000 people dying from extreme weather events every year or …….?
I’m sorry but this doesn’t seem to be a very attractive lifestyle.
In fact during the LIA many more people suffered short and brutal lives.
https://wattsupwiththat.com/2024/10/24/chris-martz-asks-climate-fundamentalists-ten-fundamental-questions/
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How much was grifted during Pandemic?
For vaccines that didn’t work?
Fiat debt created to placate a population to acquiesce to self-imprisonment and financial ruin?
Put the Climate scheme and Pandemic scheme together and how many billions of public productivity was siphoned upward?
The impending cultural, political, and economic slow rolling cataclysm is unavoidable.
Explains their desperation to silence criticism.
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Neil Oliver: Who are these evil Jokers?!?
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Like rust financial rot never sleeps!
https://www.abc.net.au/news/2024-10-22/bridgewater-bridge-alignment-problem-tasmania/104503766
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Wouldn’t have happened if J.J.C. Bradfield had been in charge!
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Qantas chair thanks Alan Joyce and Richard Goyder for their contributions And Joyce/Goyder thank Qantas Board for the generous retirement contributions. No one thanks the Australian population for their long suffering caused by Qantas mis-management
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The World Bank and IMF came about from the Bretton Woods Agreement of 1944. And like the UN, all three are anathema to this era and should be shut down; and lets hope Don does that. But as you say, the cheating will probably prevent him doing the right thing for the world.
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Pentagon: “hold my beer…”
They can’t account for around $35 TRILLION A YEAR!
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