Did the US steal tens of trillions of dollars worth of gold and oil from Iraq?
Take a look at the viral claim, and find out what the facts really are!
Claim : United States Stole Gold + Oil From Iraq!
There conspiracy theory keeps going around, claiming that the United States stole Iraqi gold and oil, specifically 20 TRILLION dollars in gold and 30 TRILLION dollars worth of oil.
These posts and articles are usually backed up by these pictures of American soldiers posing with Iraqi gold bars, and an Al Jazeera news report.
30 trillion worth of Oil & 20 trillion in gold was stolen in the invasion on Iraq
Remember Saddam had no weapons of mass destruction and was not involved in 9/11
But his countries [sic] wealth was looted nevertheless
Then they went to Afghanistan to secure the poppy fields and lithium mines by force.
Read more : Did US Government Steal 7 Billion Dollars From Afghanistan?!
Truth : US Did NOT Steal Gold + Oil From Iraq At All!
Here is a summary for those who don’t need the full details :
- It is NOT POSSIBLE for the US to steal $30 trillion worth of Iraqi oil, because Iraq did not have that much oil.
- It would take the Iraqis 685 years to extract $30 trillion worth of oil!
- It is NOT POSSIBLE for the US to steal $20 trillion worth of Iraqi gold, because humans have only mined $9.2 trillion worth of gold up to 2019.
- It would take the WORLD another 90 years of mining gold at high gold prices to hit $20 trillion.
- Saddam Hussein did not have weapons of mass destruction. Neither was he involved in the 9/11 attacks.
- The Americans invaded Iraq AFTER they invaded Afghanistan… not the other way around.
- The US only discovered deposits of lithium and other minerals 5 years AFTER invading Afghanistan.
- As of 2019, there are still no lithium mines in Afghanistan
- The missing money in the Al Jazeera report was actually part of a $20 billion contribution to Iraq from the United States
Claim #1 : 30 Trillion Worth Of Oil Was Stolen
Verdict : Mostly false. The United States did not steal Iraqi oil. They did lose track of 8.7 billion dollars worth of Iraqi funds though.
Details : After the invasion of Iraq concluded, Iraqi oil was sold to help fund the Development Fund of Iraq (DFI).
Other sources of funds include surplus funds (about USD 10 billion) from the UN Oil-For-Food Program, and the sale of seized Iraqi assets. The United States did not truck away Iraqi oil, as claimed.
In July 2010, the US Special Inspector General for Iraq Reconstruction (SIGIR) discovered that the US Department of Defense could not account properly for USD 8.7 billion of DFI funds.
This led the Iraqi Parliament to request the United Nation’s help in demanding that the US return $17 billion of “oil money” that it said was stolen from the Iraqi people :
All the indications are that the institutions of the United States of America committed financial corruption by stealing the money of the Iraqi people, which was allocated to develop Iraq, (and) that it was about $17 billion.
Our committee decided to send this issue to you … to look into it and restore the stolen money.
There is no evidence that the unaccounted money was repatriated to the United States, or officially taken by the United States.
Even assuming that it was not poor accounting and all of the USD 8.7 billion was truly stolen, that is a far cry (0.029%) from the USD 30 trillion the conspiracy theory claimed was stolen.
It is also rendered ludicrous by the fact that the United States spent USD 60 billion in the reconstruction of Iraq.
Also consider the fact that Iraqi oil production only reached 2 million barrels per day in 2007. Assuming an average sale price of USD 60 per barrel, it would take them 685 years to sell enough oil to make USD 30 trillion.
Claim #2 : 20 Trillion Worth Of Iraqi Gold Was Stolen
Verdict : False. The United States did not steal Iraqi gold. The Iraqi gold bars (as well as currency and other valuables) were transported to Kuwait to be analysed for their purity and value, before they were sent to the Central Iraqi Treasury.
Details : Do you recognise this man? He’s Lt. Col. Scott Schmidt, who was in charge of the 230th Finance Battalion. The battalion’s job was to seize Iraqi assets like currency, gold bars and other valuables.
Those assets were transported to the US Army’s headquarters in Kuwait where they were examined by the Secret Service and/or the US Department of Treasury to determine their authenticity and value. The assets were then returned to the Central Iraqi Treasury or the Development Fund of Iraq (DFI).
In 2003, Iraq had under 6 tonnes of gold reserves, worth less than USD 70 million. So how can the United States possibly steal 20 trillion dollars worth of gold from Iraq? USD 20 trillion worth of gold would weigh at least 1,714,285 tonnes in 2003.
Guess how much gold mankind has ever mined in history? Only 190,040 tonnes as of 2019 – which is 11% of what the conspiracy theory claims the United States stole from Iraq.
As of October 2019, the value of all the gold in the world was just USD 9.2 trillion – 46% of what the conspiracy theory claims the United States stole from Iraq… and that’s only because gold prices have gone up considerably.
Even with the much higher gold price, it would take an additional 90 years of mining gold before the entire world has USD 20 trillion worth of gold for the US to steal.
Claim #3 : Saddam Had No Weapons Of Mass Destruction & Was Not Involved In 9/11
Verdict : True. After US-led forces occupied Iraq, they couldn’t find any weapon of mass destruction. The Iraq Survey Group finally concluded that Iraq ended its WMD programs in 1991.
To justify their invasion, the Bush Administration regularly implied a link between Saddam Hussein and the 9/11 attacks.
However, they never declared outright that Iraq was directly or indirectly responsible for the 9/11 terrorist attack.
Needless to say, history has proven that Saddam Hussein and the Iraqis were not involved in the September 11 attack.
Claim #4 : After Invading Iraq, The Americans Invaded Afghanistan
Verdict : False. The Americans invaded Afghanistan before they invaded Iraq.
Details : The United States launched Operation Enduring Freedom with the United Kingdom, invading Afghanistan in October 2001.
Only in March 2003 did the Americans invade Iraq in Operation Iraqi Freedom.
Claim #5 : Americans Invaded Afghanistan To Secure Poppy Fields & Lithium Mines
Verdict : False. The Americans invaded Afghanistan because the Taliban refused to extradite Osama bin Laden to the United States, and expel al-Qaeda from Afghanistan. The massive lithium deposit in Afghanistan was only discovered 6 years later in 2007.
Details : Poppy has been cultivated in Afghanistan since the Soviet invasion in 1979, as a means to fund the Mujahideen.
If the Americans were interested in the opium trade, President Reagan wouldn’t have declared the War on Drugs on the 14th of October, 1982. They also would have stuck around after the Soviets withdrew from Afghanistan in 1989.
The Americans did not invade Afghanistan until the September 11 attacks forced them to deal aggressively with the al-Qaeda threat.
They invaded Afghanistan on the 7th of October 2001, after the Taliban refused to extradite Osama bin Laden to the United States, and expel al-Qaeda from Afghanistan.
The claims of lithium mines was based on a 2007 US Geological Survey report. It revealed that Afghanistan has the world’s largest reserves of lithium, as well as huge deposits of iron, gold, cobalt, copper and other valuable minerals.
The US Geological Survey only began the effort with aerial surveys in 2006 before conducting a more sophisticated survey in 2007 that resulted in the report.
However, the report never came to the attention of both the American and Afghan governments until more than two years later.
In 2009, a Pentagon task force that created business development programs in Iraq was transferred to Afghanistan. They stumbled upon the geological data, and brought in mining experts to check and validate the data. Only in 2010 was the importance of the 2007 report revealed.
Since the survey was only initiated in 2006, five years after the Americans invaded Afghanistan, it is temporally impossible for the unknown lithium deposits to be the “real reason” for the invasion of Afghanistan.
As of 2019, there is still no lithium mine in Afghanistan. In fact, none of the new mineral reserves discovered in the 2007 USGS report has yet been mined.
What About Al Jazeera Report On Missing Gold & Oil In Iraq?
The conspiracy theory actually includes this screenshot of an Al Jazeera news report that purportedly shows them reporting on “Iraq’s Missing Wealth“.
Well, that was from a June 2011 Al Jazeera news report, which you can view here :
The Bush Administration sent USD 20 billion in funds to Iraqi ministries in 2004. Of those funds, USD 6.6 billion could not be accounted for due to missing documents.
Osama al-Nujaifi, the Iraqi Parliament Speaker, disputed the figure in 2011, arguing that the Development Fund of Iraq (DFI) lost USD 18.7 billion.
No matter whether the unaccounted funds is really USD 18.7 billion or just USD 6.6 billion, they are far smaller than the absurd claim that the United States looted USD 20 trillion of Iraqi gold and USD 30 trillion of Iraqi oil.
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Of course the USA invaded Irak FIRST. Did you forget 1993? June 27 they bombed Bagdad.
so “claim #4 is not really wrong. The invaded Iraq before Afghanistan.
There was different reasons. But the US always find a reason to make war.
1776..1890 killed the natives
… real lot of war, tons of blood …
1998 there was Sudan,
2003 Iraq again
and so on…..
Just about 20 or 30 years within US History this torture regime wasn’t in war for bring its interpretation of “freedom and democracy” to the rest of the world.
Yes. the will pay for this. That’s for sure.
The hoax refers to the 2003 invasion of Iraq. The reply has to be in that context.
The 1991 “incursion” of Iraq in the Gulf War was part of military strategy to cut off the supply and reinforcement of Iraqi forces in Kuwait. That’s why they withdrew right within days, instead of continuing straight to Baghdad.
The 1993 cruise missile strike was not an invasion either. It was in retaliation for an attempted assassination of former President Bush.
1998 Sudan – another cruise missile attack that wrongly destroyed a pharmaceutical factory. Not a war.
1999 Kosovo – NATO bombed Yugoslavian targets because they were committing ETHNIC CLEANSING of the Albanians in Kosovo, and refused to permit peacekeepers.
2001 Afghanistan – the US invaded Afghanistan after the Taliban refused to surrender Osama bin Laden. Remember 9/11?
2003 Iraq – the US invaded Iraq under false pretences by George Bush Jr.
2004 Haiti – that was a coup d’etat that happened AFTER 3 weeks of rebellion by the Haitians. Not war.
You may have a chip on your shoulder about the US, but the article is SOLELY about the hoax of Iraqi gold and oil being stolen by the US.
BTW, you might also want to read about Russian annexation of Georgian and Ukrainian territory, Chinese invasion of Tibet, etc. There are many countries that will do what they want, because they can.
Globalist lies of the highest order.
btw. thanks for the story anyway. Good to know about that gold hoax
It’s our pleasure. The purpose is to determine the truth. In this case, the claims were just nonsensical.
Dr Adrian Wong, how times cruise missiles landed in your sleeping room?
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Dr Wong.. stick to herbal Chinese medicine or what every fuk ur a Dr for because your hoax theory is dumb as shit. So are you if you think 911 was Afghan issue. Dumb fuk !
The “terror” attacks of 9-11 were the brainchild of Americans that were in power at the time that they were carried out. The same people were also behind the Oklahoma City bombing.They wanted the patriot act. The political climate in Washington at the time of the O.C. bombing was not favorable to pass it. When the O.C. bombing did not yield the desired results they decided to “go big” and thus the 9-11 incidents. A different political atmosphere and the agregious nature of the 9-11 attacks allowed passage of the pat. act, with ease. Some people were away from the pentagon on 9-11 so they did not get hurt. Coincidence? Others were not so lucky. We know that the pres. was not in Wash. on the day of the attack. The plane that flew into the ground was supposed to hit the Whitehouse. If He had been there He may have been hurt or killed. Lucky Him. The war also was desired because some people would get rich from it. Gold was stolen. It was not all accounted for. Why has there been such an increase in the heroin problem since we have been active in the opium growing regions? A thorough investigation of some of those with power and access may disclose wealth that could be hard to explain. Or it may be hidden in a foreign country.You think? With the patriot act “big brother can snoop and spy on its citizens anytime they want. Kind of like a communist country.Huh. Many of the people who have spoken of terrorist threats to the U.S. may themselves be more of a threat. Stolen gold and secured poppy fields doesn’t sound so crazy after all.Certainly not beyond the realm of possibilities.
Mr.Hamilton,your absolutely right.I guess it’s just to hard for some people to accept the fact that their on government would kill their own citizens just to further their on goal.
Are you A Zionist?
USA is a terrorist organization that has robbed the wealth of almost EVERY Nation on the Planet.
Who do work for exactly?
The indiscriminate use of bombs by the US, usually outside a declared war
situation, for wanton destruction, for no military objectives, whose
targets and victims are civilian populations, or what we now call
Korea & China (1950-53)
Guatemala (1954, 1960, 1967-69)
El Salvador (1980s)
US Use of Chemical & Biological Weapons
The US has refused to sign Conventions against the development and use of
chemical and biological weapons, and has either used or tested (without
informing the civilian populations) these weapons in the following
Bahamas (late 1940s-mid-1950s)
China and Korea (1950-53)
Vietnam, Laos, Cambodia (1961-1970)
Cuba (1962, 69, 70, 71, 81, 96)
And the US has tested such weapons on US civilian populations, without
their knowledge, in the following locations:
Watertown, NY and US Virgin Islands (1950)
SF Bay Area (1950, 1957-67)
St. Louis (1953)
Washington, DC Area (1953, 1967)
Savannah GA/Avon Park, FL (1956-58)
New York City (1956, 1966)
And the US has encouraged the use of such weapons, and provided the
technology to develop such weapons in various nations abroad, including:
US Political and Military Interventions since 1945
The US has launched a series of military and political interventions since
1945, often to install puppet regimes, or alternatively to engage in
political actions such as smear campaigns, sponsoring or targeting
opposition political groups (depending on how they served US interests),
undermining political parties, sabotage and terror campaigns, and so forth.
It has done so in nations such as
South Africa (1960s-1980s)
Marshall Islands (1946-58)
East Timor (1975-99)
Eastern Europe (1948-56)
Costa Rica (mid-1950s, 1970-71)
Middle East (1956-58)
South Yemen (1979-84)
Western Europe (1950s-1960s)
South Korea (1980)
Congo (1960-65, 1977-78)
El Salvador (1980-92)
Dominican Republic (1963-65)
US Perversions of Foreign Elections
The US has specifically intervened to rig or distort the outcome of foreign
elections, and sometimes engineered sham “demonstration” elections to ward
off accusations of government repression in allied nations in the US sphere
of influence. These sham elections have often installed or maintained in
power repressive dictators who have victimized their populations. Such
practices have occurred in nations such as:
Dominican Republic (1962)
El Salvador (1984)
Panama (1984, 89)
Nicaragua (1984, 90)
Haiti (1987, 88)
US Versus World at the United Nations
The US has repeatedly acted to undermine peace and human rights initiatives
at the United Nations, routinely voting against hundreds of UN resolutions
and treaties. The US easily has the worst record of any nation on not
supporting UN treaties. In almost all of its hundreds of “no” votes, the US
was the “sole” nation to vote no (among the 100-130 nations that usually
vote), and among only 1 or 2 other nations voting no the rest of the time.
Here’s a representative sample of US votes from 1978-1987:
US Is the Sole “No” Vote on Resolutions or Treaties
For aid to underdeveloped nations
For the promotion of developing nation exports
For UN promotion of human rights
For protecting developing nations in trade agreements
For New International Economic Order for underdeveloped nations
For development as a human right
Versus multinational corporate operations in South Africa
For cooperative models in developing nations
For right of nations to economic system of their choice
Versus chemical and biological weapons (at least 3 times)
Versus Namibian apartheid
For economic/standard of living rights as human rights
Versus apartheid South African aggression vs. neighboring states (2 times)
Versus foreign investments in apartheid South Africa
For world charter to protect ecology
For anti-apartheid convention
For anti-apartheid convention in international sports
For nuclear test ban treaty (at least 2 times)
For prevention of arms race in outer space
For UNESCO-sponsored new world information order (at least 2 times)
For international law to protect economic rights
For Transport & Communications Decade in Africa
Versus manufacture of new types of weapons of mass destruction
Versus naval arms race
For Independent Commission on Disarmament & Security Issues
For UN response mechanism for natural disasters
For the Right to Food
For Report of Committee on Elimination of Racial Discrimination
For UN study on military development
For Commemoration of 25th anniversary of Independence for Colonial Countries
For Industrial Development Decade in Africa
For interdependence of economic and political rights
For improved UN response to human rights abuses
For protection of rights of migrant workers
For protection against products harmful to health and the environment
For a Convention on the Rights of the Child
For training journalists in the developing world
For international cooperation on third world debt
For a UN Conference on Trade & Development
US Is 1 of Only 2 “No” Votes on Resolutions or Treaties
For Palestinian living conditions/rights (at least 8 times)
Versus foreign intervention into other nations
For a UN Conference on Women
Versus nuclear test explosions (at least 2 times)
For the non-use of nuclear weapons vs. non-nuclear states
For a Middle East nuclear free zone
Versus Israeli nuclear weapons (at least 2 times)
For a new world international economic order
For a trade union conference on sanctions vs. South Africa
For the Law of the Sea Treaty
For economic assistance to Palestinians
For UN measures against fascist activities and groups
For international cooperation on money/finance/debt/trade/development
For a Zone of Peace in the South Atlantic
For compliance with Intl Court of Justice decision for Nicaragua vs. US.
**For a conference and measures to prevent international terrorism
(including its underlying causes)
For ending the trade embargo vs. Nicaragua
US Is 1 of Only 3 “No” Votes on Resolutions and Treaties
Versus Israeli human rights abuses (at least 6 times)
Versus South African apartheid (at least 4 times)
Versus return of refugees to Israel
For ending nuclear arms race (at least 2 times)
For an embargo on apartheid South Africa
For South African liberation from apartheid (at least 3 times)
For the independence of colonial nations
For the UN Decade for Women
Versus harmful foreign economic practices in colonial territories
For a Middle East Peace Conference
For ending the embargo of Cuba (at least 10 times)
In addition, the US has:
Repeatedly withheld its dues from the UN
Twice left UNESCO because of its human rights initiatives
Twice left the International Labor Organization for its workers rights
Refused to renew the Antiballistic Missile Treaty
Refused to sign the Kyoto Treaty on global warming
Refused to back the World Health Organization’s ban on infant formula abuses
Refused to sign the Anti-Biological Weapons Convention
Refused to sign the Convention against the use of land mines
Refused to participate in the UN Conference Against Racism in Durban
Been one of the last nations in the world to sign the UN Covenant on
Civil Rights (30 years after its creation)
Refused to sign the UN Covenant on Economic & Social Rights
Opposed the emerging new UN Covenant on the Rights to Peace, Development &
Sampling of Deaths >From US Military Interventions & Propping Up Corrupt
Dictators (using the most conservative estimates)
4 million dead
1.3 million dead
1 million dead
1/3-1/2 of total population
1 million dead
2 million dead
1.5 million dead
Other Lethal US Interventions
CIA Terror Training Manuals
Development and distribution of training manuals for foreign military
personnel or foreign nationals, including instructions on assassination,
subversion, sabotage, population control, torture, repression,
psychological torture, death squads, etc.
Specific Torture Campaigns
Creation and launching of direct US campaigns to support torture as an
instrument of terror and social control for governments in Greece, Iran,
Vietnam, Bolivia, Uruguay, Brazil, Guatemala, El Salvador, Honduras, and Panama
Supporting and Harboring Terrorists
The promotion, protection, arming or equiping of terrorists such as:
. Klaus Barbie and other German Nazis, and Italian and Japanese fascists,
after WW II
. Manual Noriega (Panama), Saddam Hussein (Iraq), Rafael Trujillo
(Dominican Republic), Osama bin Laden (Afghanistan), and others whose
terrorism has come back to haunt us
. Running the Higher War College (Brazil) and first School of the Americas
(Panama), which gave US training to repressors, death squad members, and
torturers (the second School of the Americas is still running at Ft.
. Providing asylum for Cuban, Salvadoran, Guatemalan, Haitian, Chilean,
Argentinian, Iranian, South Vietnamese and other terrorists, dictators, and
Assassinating World Leaders
Using assassination as a tool of foreign policy, wherein the CIA has
initiated assassination attempts against at least 40 foreign heads of state
(some several times) in the last 50 years, a number of which have been
successful, such as: Patrice Lumumba (Congo), Rafael Trujillo (Dominican
Republic), Ngo Dihn Diem (Vietnam) Salvador Allende (Chile)
Arms Trade & US Military Presence
. The US is the world’s largest seller of weapons abroad, arming
dictators, militaries, and terrorists that repress or victimize their
populations, and fueling scores of violent conflicts around the globe
. The US is the world’s largest provider of live land mines which, even in
peacetime, kill or injure at least several people around the world each day
. The US has military bases in at least 50 nations around the world, which
have led to frequent victimization of local populations.
. The US military has been bombing one Middle Eastern or Muslim nation or
another almost continuously since 1983, including Lebanon, Libya, Syria,
Iran, the Sudan, Afghanistan, and Iraq (almost daily bombings since 1991)
This, then, is a sampling of American foreign policies over the last 50
years. The FBI uses the following definition for Terrorism: “The unlawful
use of force or violence committed by a group or individual, who has some
connection to a foreign power or whose activities transcend national
boundaries, against persons or property to intimidate or coerce a
government, the civilian population or any segment thereof, in furtherance
of political or social objectives.” This sounds like the terrorism we just
experienced. It also sounds a lot like the US policies and actions since
1945 that I’ve just described.
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You daft cunt 😂 just because some report said the incorrect amount of gold was stolen – doesn’t mean the US didn’t pillage Iraq. Twat.
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