This page has been archived and commenting is disabled.

First Invoice To US Taxpayers From Post-Revolutionary Egypt Received: Bottom Line - $150 Million

Tyler Durden's picture




 

As if the US did not have its hands full with convincing the rest of the world it does not support corrupt dictatorial regimes, not to mention providing trillions in backstop capital to insolvent continents, it has once again decided to offer US taxpayer funds in an attempt to buy the love and admiration of a society in transition. According to AFP, "The United States gave Egypt $150 million in crucial economic assistance on Thursday to help the key US ally transition towards democracy following the overthrow of longtime president Hosni Mubarak." We are not sure if this falls under the definition of throwing good money after bad, especially since nobody knows where the "bad" money (according to some estimates up to $30 trillion of it) that had been collected by the Mubarak regime for three decades is. But it is refreshing that with tens of trillions in our own budget deficits, the US once again harbors an illusion that it is its, or rather its taxpayers', sworn duty to encourage the creation of "open societies" no matter just how insolvent this country itself is.

From AFP:

"I am pleased to announce today that we will be reprogramming $150 million for Egypt to put ourselves in a position to support the transition there and assist with their economic recovery," Secretary of State Hillary Clinton said.

The chief US diplomat added that William Burns, the undersecretary of state for political affairs, and David Lipton, a senior White House adviser on international economics, would travel to Egypt next week.

The pair will "consult with Egyptian counterparts on how we can most effectively deploy our assistance in line with their priorities," Clinton told reporters after a closed-door briefing with senators about Middle East unrest.

"We also discussed the lessons of the recent events in Egypt and the broader Middle East," she said.

And here is the pants-wearing Clinton confirming that nothing has been learned at all.

"These events demonstrate why the United States must remain fully engaged around the world," she said, before repeating her warning that planned Republican cuts in foreign aid would harm US national security.

Perhaps one should ask whether what is happening in North Africa is reminiscent of events in Eastern Europe in 1989. That set of revolutions was catalyzed by the fall of the old Soviet Regime. Is it time to ask whether the current roster of toppling and very US-friendly regimes in Africa and the middle east is nothing short of a harbinger that that last superpower, the US, is also on its last throes...

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 02/17/2011 - 16:04 | 971294 NOTW777
NOTW777's picture

media ignoring the dem riots in Wis;  police looking for dem congressmen who have gone AWOL to save the unions

Thu, 02/17/2011 - 16:10 | 971319 Ray1968
Ray1968's picture

One can only hope they stay out of state... permanently.

 

I wish the Democrat lawmakers would leave Illinois too.

Thu, 02/17/2011 - 16:18 | 971353 NOTW777
NOTW777's picture

quite an amazing response. no hiding where the loyalites of the dem senators

lie.  politicans who gave an oath run from their office.  the unions are a festering infection inside america

Thu, 02/17/2011 - 16:23 | 971370 mynhair
mynhair's picture

Wish all the Dims would leave the US.  Hear Mexico is nice.......

Thu, 02/17/2011 - 16:14 | 971335 mynhair
mynhair's picture

Hijacked a short bus to abscond on, too boot.

PATCO the whole rat bunch of them!

Thu, 02/17/2011 - 16:04 | 971300 TheGreatPonzi
TheGreatPonzi's picture

And you'll see where the final bill for the Eurozone crisis will be directed.

The Ponzi must keep being fed with fresh blood... and you're still considered the "richer" country out there. 

Thu, 02/17/2011 - 16:15 | 971338 unwashedmass
unwashedmass's picture

oh please. no one gives a shit about democracy -- this is a payoff to allow our corporations to continue to rape the Egyptian resources.

democracy has nothing to do with it. the powers want Exxon left alone.

Thu, 02/17/2011 - 17:01 | 971588 Common_Cents22
Common_Cents22's picture

what significant resources does egypt have?  

Thu, 02/17/2011 - 17:30 | 971762 karzai_luver
karzai_luver's picture

well there is that little stream with some type of locks or something in it i hear that seems to be a resource.

 

also they are good cannon fodder and a foil to show how kind the U.S. is after all we are friends with the rag heads AND the "others" how could a person without a country find fault with such as us?  I ask you.

 

Thu, 02/17/2011 - 16:52 | 971540 Logans_Run
Logans_Run's picture

I really think that thebenbernank is attempting immortality by reaching the point where we no longer refer to it as a Ponzi scheme but instead as a bernankischeme, but it just doesn't roll off the tongue as well.

Fri, 02/18/2011 - 01:21 | 973223 StychoKiller
StychoKiller's picture

$150Million buys a lot of Diebold voting machines and butterfly ballots, in my estimation. :>D

Fri, 02/18/2011 - 06:58 | 973469 Zero Govt
Zero Govt's picture

a top Afghanistan official from the democratically propped up puppet US State was seen carrying $42 million into the Arab Emirates ...such a noble cause ....your tax Dollars, hard at work 

Thu, 02/17/2011 - 16:07 | 971307 Thorny Xi
Thorny Xi's picture

Wow.  That's enough to bail out the entire state of Wisconsin, plus $27 million to buy all the union teachers "Happy Serfs."

Thu, 02/17/2011 - 22:46 | 972925 Bringin It
Bringin It's picture

My thoughts too.  Another, extra $150M to prop up the southern border of the Zionist entity.

No need for any of this cash inside the Homeland.  DC does not represent the people of this country.

Thu, 02/17/2011 - 16:07 | 971309 mynhair
mynhair's picture

Is there a Cairo, Wisconsin?

Thu, 02/17/2011 - 16:09 | 971316 NOTW777
NOTW777's picture

break the unions and you have a make or break moment for the US

Thu, 02/17/2011 - 17:32 | 971769 karzai_luver
karzai_luver's picture

bwhaaaa

 

 

the us was broke long ago!

 

unions ain't holding that program back!

 

bwhhhaaaaaaa!

Thu, 02/17/2011 - 16:11 | 971323 Cognitive Dissonance
Cognitive Dissonance's picture

$150 Million equals 3.37 metric tons of Gold at current price.

Is this a down payment on what Mubarak stole? 

Thu, 02/17/2011 - 16:44 | 971463 ZerOhead
ZerOhead's picture

Hey CD...

Let me help a bit with my Clintonese translator...

 

The pair will "consult with Egyptian counterparts (Egyptian military) on how we can most effectively deploy our assistance (CIA 'campaign' assets complete with dirty deeds and/or weaponry) in line with their priorities (maintaining control of Egypt for Israel/NeoCon agenda)," Clinton told reporters after a closed-door briefing with senators about Middle East unrest.

 

Looks like Clintons' soulmate... Wisner... is unavaialable until people forget who/what he is.

Hillary will not let Egyptians have the freedom they so crave without a fight!

Thu, 02/17/2011 - 16:45 | 971500 Cognitive Dissonance
Cognitive Dissonance's picture

Yeah, I just used Google translate (Clintonese to English) to confirm your interpretation. :>)

Thu, 02/17/2011 - 20:06 | 972359 macholatte
macholatte's picture

please allow me to translate....

Egypt has become a new black hole for money. All the rhetoric is pure, unadulterated bullshit. $150M goes in, nothing comes out. Soros, Clinton & Obama bank accounts balloon a little bit, as well as their cronies, and everybody forgets about it. Nobody goes to jail or even has to account for any of it.

$12B in cash went to Iraq, there were photos of it, cargo planes flew it in, there were warehouses full of pallets of $100 bills shrink wrapped. All of it disappeared. All of it. No accounting. Poof!

 

Thu, 02/17/2011 - 23:55 | 973050 centerline
centerline's picture

The single biggest reason that fiat is dead.  The looting of the treasury began in earnest some time ago.

Fri, 02/18/2011 - 01:24 | 973227 StychoKiller
StychoKiller's picture

The Afghanis/Taliban don't take American Express for their opium, just ask the CIA/DEA!

Thu, 02/17/2011 - 16:17 | 971324 plocequ1
plocequ1's picture

Wow, Thats alot of money.

Thu, 02/17/2011 - 16:49 | 971508 Pure Evil
Pure Evil's picture

Just another day in the Mega Millions or Powerball lottery.

Thu, 02/17/2011 - 17:15 | 971612 plocequ1
plocequ1's picture

Im afraid i dont have it. O lord, What to do?

Thu, 02/17/2011 - 17:27 | 971745 SheepDog-One
SheepDog-One's picture

Only  about 5 minutes worth of Bernank POMO.

Thu, 02/17/2011 - 16:14 | 971332 cosmictrainwreck
cosmictrainwreck's picture

"...to help the key US ally...." ha! we see whut kinda "ally" they be now. reminds me of the old one about the ex-slave that whitey was gonna hire to do some work...whitey sez "yo - you're a free man now...you can earn" to which the other replied "yo - ah ain't free.... ah's esspensive!"

Thu, 02/17/2011 - 16:16 | 971341 mynhair
mynhair's picture

Send the beestards a bill back for double on Laura's behalf.

Thu, 02/17/2011 - 16:25 | 971362 dick cheneys ghost
dick cheneys ghost's picture

our empire is naked...what will we do to save the "Kingdom" cause the saudi's are freaking............

Thu, 02/17/2011 - 17:34 | 971781 karzai_luver
karzai_luver's picture

the "kingdom" needs to be taken out now!

 

terror mongers and worse that's all that runs that shithole.

 

Thu, 02/17/2011 - 16:21 | 971364 Josh Randall
Josh Randall's picture

Who do we make a check out to ? Which General is the Mayor McCheese over there this week ?

Thu, 02/17/2011 - 16:24 | 971381 mynhair
mynhair's picture

TNA to $87 today?  Must be TAP time....

Thu, 02/17/2011 - 16:25 | 971386 Sean7k
Sean7k's picture

I think the generals could have gotten a lot more.This will do nothing but undermine my faith in their ability to run Eygpt for the US. We paid four times that when the CEO of Exxon retired! Who is Hillary trying to fool here? Panetta? Not that that would be hard to do- blabber mouth. 

We have no foreign "policy". We have pronouncements and veiled attempts at deception the whole world sees through. America has always been run by asshats, but in the past, they were a lot better at it. Hillary must be sucking on flouride popsicles day in and day out. 

Thu, 02/17/2011 - 16:28 | 971394 mynhair
mynhair's picture

We paid the CEO of XOM to retire?  Who is this 'we'?

Look what Algore steals annually from taxpayers.

Thu, 02/17/2011 - 16:32 | 971431 karzai_luver
karzai_luver's picture

150! are youse kiddin me?

 

We drop this much between the sofa cushions over there in a month.

 

Nothing between friends.

Thu, 02/17/2011 - 16:33 | 971438 Sean7k
Sean7k's picture

Do you buy gas or stock Mynnie? I know you're just a closet lib...

Thu, 02/17/2011 - 16:43 | 971490 wherewasi
wherewasi's picture

 

"Timmy... get the petty cash box please..."

Thu, 02/17/2011 - 16:58 | 971577 johnQpublic
johnQpublic's picture

wtf?

wtf wtf wtf wtf wtf?

 

are we ever gonna get a vote in this kinda shit?

this amounts to a tax

no taxation without representation

 

i hate that stupid cunt...why doesnt she finance this out of her cut of the mena cocaine money she collected

Fri, 02/18/2011 - 01:27 | 973230 StychoKiller
StychoKiller's picture

i hate that stupid cunt...why doesnt she finance this out of her cut of the mena cocaine money she collected

 

Really!  She coulda made in all back with a few trades in cattle futures...

Thu, 02/17/2011 - 17:06 | 971621 John Law Lives
John Law Lives's picture

Many commodities surged again today.  Maybe Egypt should start printing more of its own currency and kite its own stock market... and then LIE about the negative effects to its people as their middle class starves to death.

http://www.bloomberg.com/markets/commodities/futures/

The Ben Bernank = Pathological liar and psychopath?

 

Thu, 02/17/2011 - 18:13 | 971633 zloty owadow
zloty owadow's picture

Did you know that the 1970 Egyptian lira gold coin features the face of Richard Nixon?

see http://thumbs3.ebaystatic.com/m/ma_fpk2lj1hyP8YtFpO4ZDA/140.jpg

 

Interesting that the coin shows up in the preview, but not after I press "save" button.

 

Guess the Egyptians wanted...to commemorate...something...hmmm.

Thu, 02/17/2011 - 17:26 | 971739 SheepDog-One
SheepDog-One's picture

Egypt is unlikely to accept worthless FRN's anyway. 

Thu, 02/17/2011 - 17:39 | 971792 mark mchugh
mark mchugh's picture

TIME OUT, Tyler,

Egypt holds more than $30B in US Treasuries; they purchased $11.5B in 2010 alone, according to Turbo's spreadsheet.  Assuming that Egypt is not another shell country for China, and the purchases were real (and neither of those statements are a lock, I realize), $150 million is less than the annual interest we owe them.

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt

 

Thu, 02/17/2011 - 19:17 | 972175 XRAYD
XRAYD's picture

That is close to what the US has given to Egypt as aid - most of it supposedly used by the military.

 

During this time, Mubarak is rumored to have a personal fortune of $4 to $70 Billion dollars, while he earned a $200,000 annual official salary.

 

He must be a smart investor, even better than Warren Buffet. 

Thu, 02/17/2011 - 19:26 | 972195 mark mchugh
mark mchugh's picture

Or Joe Biden.

But seriously, I'd hope that treasury tracks issues well enough that Mubarak can't steal them, anyway.

Thu, 02/17/2011 - 22:52 | 972944 Bringin It
Bringin It's picture

Or Shill-ary Clinton.

WASHINGTON, March 29 — The White House said today that in 1978 Hillary Rodham Clinton invested $1,000 in commodities futures and that the investment grew in 10 months of trading ... into a gain of nearly $100,000.

http://www.nytimes.com/1994/03/30/us/hillary-clinton-turned-1000-into-99...

Thu, 02/17/2011 - 23:37 | 973024 mark mchugh
mark mchugh's picture

Just more proof that our masters really are smarter than the rest of us.

Thu, 02/17/2011 - 22:08 | 972806 PulauHantu29
PulauHantu29's picture

More Payola to Corrupt Egyptian officals and bankers.

Nothing new here...move along.Sheeple US Midlle Class repeatedly pillaged.

Thu, 02/17/2011 - 23:39 | 973029 Coldfire
Coldfire's picture

To help Egypt "transition towards democracy"? Pardon me, but Mubarak enjoyed 30 years of electoral success. Egypt had a democracy. They just didn't like the results. Fair enough, but another election only reinforces the persistence of the state and that is the central problem. <<My name is Democracy, The God That Failed(tm), and I did not approve this message.>>

Do NOT follow this link or you will be banned from the site!