Al-Qaeda Jihadis Loot Over $400 Million From Mosul Central Bank, Seize Saddam's Hometown

Tyler Durden's picture


As reported yesterday, in yet another humiliating blow to US foreign policy and the State Department, Al Qaeda-linked ISIS (Islamic State of Iraq and al-Sham) militants took over the key northern town of Mosul, where an unknown number of US-made Black Hawk helicopters were parked and have been captured by Al Qaeda (potentially the same forces that have been trained by the US across the border in Syria).

Adding insult to injury the Al Qaeda militants also appear to have looted some $429 million from local banks. From IBtimes:

The Islamic State of Iraq and al-Shams (Isis) has become the richest terror group ever after looting 500 billion Iraqi dinars - the equivalent of $429m (£256m) - from Mosul's central bank, according to the regional governor.


Nineveh governor Atheel al-Nujaifi confirmed Kurdish televison reports that Isis militants had stolen millions from numerous banks across Mosul. A large quantity of gold bullion is also believed to have been stolen.


Following the siege of the country's second city, the bounty collected by the group has left it richer than al-Qaeda itself and as wealthy as small nations such as Tonga, Kiribati, the Marshall Islands and the Falkland Islands.


The financial assets that Isis now possess are likely to worsen the Iraqi governement's struggle to defeat the insurgency, which is aimed at creating an Islamic state across the Syrian-Iraqi border.

In other words, now that it is armed with US-made weapons, this particular al-Qaeda group also happens to be the world's richest terror force!

And so with all disposable cash it needs for a long time and armed to the teeth, what is Al Qaeda to do? Why continue expanding of course. Moments ago, via Reuters, we got confirmation that the "insurgents" have just captured yet another symbolic Iraqi town, Tikrit: the birthplace of none other than Saddam.

Sunni insurgents overran parts of the Iraqi city of Tikrit on Wednesday, security sources said.


Tikrit, which is located 150 km (95 miles) north of Baghdad, is the hometown of former Iraqi dictator Saddam Hussein

And on the map:

Will they stop here? Of course not. Expect the ISIS force to continue south until finally it overruns Baghdad itself and until all of Iraq, courtesy of a crippled army, officially belongs to Al Qaeda. America's job is done here.

One can't wait until Al Qaeda is also in charge of all the other countries recently liberated by the US and/or CIA.

USAID in action, supporting ISIS

US-supplied humvees captured by Islamic insurgents in the battle for Mosul


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Wed, 06/11/2014 - 09:58 | 4844268 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

If these guys are not being run by CIA, I want my tax dollars back ...

Wed, 06/11/2014 - 10:00 | 4844283 Thought Processor
Thought Processor's picture


I'm confused, is this the good Al-Qaeda or the bad Al-Qaeda?

Wed, 06/11/2014 - 10:03 | 4844299 Headbanger
Headbanger's picture

Just nuke em all this time and git'er done!

Wed, 06/11/2014 - 10:05 | 4844315 LetThemEatRand
LetThemEatRand's picture

Let's turn that place into a big desert!  Oh, wait.

Wed, 06/11/2014 - 10:07 | 4844319 economics9698
economics9698's picture

The only time Biden was right was when he proposed splitting up the Shia, Sunni, and Kurds.

Wed, 06/11/2014 - 10:09 | 4844331 Latina Lover
Latina Lover's picture

Now, if only we could convince them to attack Washington....

Wed, 06/11/2014 - 10:21 | 4844368 Manthong
Manthong's picture

Obama and Hillary own this.

Was that a $ .4 billion in US cash they got?

Wed, 06/11/2014 - 10:26 | 4844417 BigJim
BigJim's picture

<== I've researched Odet Yinon and think this is going by his playbook

<== I haven't researched Odet Yinon and think this is some accidental clusterfuck

Wed, 06/11/2014 - 10:29 | 4844432 Gaius Frakkin' ...
Gaius Frakkin&#039; Baltar's picture

I wonder how all those Iraqi Dinar "investments" are going to turn out??? LOL...

Wed, 06/11/2014 - 10:52 | 4844563 Canadian Dirtlump
Canadian Dirtlump's picture

For these guys, good. Steal them and spend them into the system. Terrorists or central bankers, you decide?


As for ISIL, ISIS, DASH or whatever name the turds want to go by, here is an interesting take on ISIS vs. Taliban by a guy who follows a site I follow closely,


Much like the Taliban, these guys are funded by virulent saudi and gulf state money, walk the same line, aren't interested in finding a voice, sharing power, or much else. They rule and won't have any issue executing anyone man woman or child who not only opposes them, but is merely different.



Wed, 06/11/2014 - 10:57 | 4844597 greatbeard
greatbeard's picture

>> are funded by virulent saudi and gulf state money,

Heaven forbid we should drastically cut our energy guzzling ways and starve those fuckers.  Nahh, that would take some self sacrifice.



Wed, 06/11/2014 - 11:01 | 4844625 hedgeless_horseman
hedgeless_horseman's picture



Wed, 06/11/2014 - 11:11 | 4844683 philipat
philipat's picture

NO PROBLEM. The Gold is already in Chaina...

Wed, 06/11/2014 - 11:22 | 4844746 SWRichmond
SWRichmond's picture

USG is the richest terrorist organization.

Wed, 06/11/2014 - 11:35 | 4844810 Four chan
Four chan's picture

so iraq is like the movie swordfish but in reverse.

Wed, 06/11/2014 - 11:42 | 4844848 Bananamerican
Bananamerican's picture

The Iraqi insurgency will pay for itself.....apparently...
Amazing what you can do with no MIC in the way...

Wed, 06/11/2014 - 11:44 | 4844862 SafelyGraze
SafelyGraze's picture


one more example of why it's better for a central bank to hold no precious metals!


Wed, 06/11/2014 - 11:55 | 4844918 StacksOnStacks
StacksOnStacks's picture

American Made!  We make some damn good shit when we want to!

Wed, 06/11/2014 - 11:59 | 4844939 Herd Redirectio...
Herd Redirection Committee's picture

Interesting tidbit: The word MUSLIM derives from the town of Mosul.  Mosulman (or variants thereof), being the original word.

Wed, 06/11/2014 - 12:07 | 4844976 DaddyO
DaddyO's picture

Just think about the huge amounts of money that were spent on the war in Iraq and Afghanistan.

Think about the human lives that were lost.

Think about the trampled freedoms of people the world over, the USA especially.

Think about the huge sums of money for bailouts of the perpetrators of all this madness.

Think about it and weep...

The fall of Mosul is but a marker on the road to destruction the world is currently on with no end in sight.

Think about it and weep...


Wed, 06/11/2014 - 12:12 | 4845004 Herd Redirectio...
Herd Redirection Committee's picture

If the world can survive the Black Plague, it can survive all this shit.

There is a reason the phoenix rising from the ashes is such a widespread 'myth'.

Wed, 06/11/2014 - 12:52 | 4845173 0b1knob
0b1knob's picture

This is nothing to lose your head over.  Oh wait...


Wed, 06/11/2014 - 13:16 | 4845283 CheapBastard
CheapBastard's picture

"Whew, I'm glad we're all safe here in the Green Zone....."


'Wait a sec...did you hear that?"


Wed, 06/11/2014 - 13:31 | 4845359 SilverIsKing
SilverIsKing's picture

I'm calling BS.  No one goes into the Central Bank of Mosul and walks out with $400 million without losing an eye, an ear, or maybe a finger.  Nowhere is it mentioned that anyone lost a body part so until I see that, I'm not buying it.

And by the way, how does one steal $400 million and get to keep it?

Wed, 06/11/2014 - 13:46 | 4845430 simplejack
simplejack's picture




Stupid question time......... who is Al-Qaeda?

Wed, 06/11/2014 - 14:25 | 4845597 Perfecthedge
Perfecthedge's picture

Far-right extremists...

Wed, 06/11/2014 - 13:33 | 4845365 kill switch
kill switch's picture

Look around the world ,,this is WWIII,, just nobody has flipped a nuke yet!!! Give it time.

Wed, 06/11/2014 - 11:58 | 4844936 sushi
sushi's picture

I guess all the drones are off attacking wedding parties elsewhere in the world.

Which explains why these dudes can prance around in the desert and seize oil refineries, gold, and weapons stocks and nothing happens to them. No death from above?

Maybe they have a tactical secret and have outlawed weddings?

Or perhaps USSA foreign policy is so convoluted that even the USSA cannot figure it out?


Wed, 06/11/2014 - 12:39 | 4845121 BurningFuld
BurningFuld's picture

This is just payback 'cause USA Oil Companies got very few contracts in the "New" Iraq.

Do you need us now????

Wed, 06/11/2014 - 12:58 | 4845198 sushi
sushi's picture

Interesting point of view from one of Canadian Dirt's links:

Even Z. Brzezinski, not known for his sympathies toward Russia, states that the threat of an explosion in the Middle East, and in Syria in particular, means that the U.S. needs to work closely with Russia and China “to some extent more than...[with] Britain or France”. And cold war paladin Brzezinski knows what he's talking about here.




Wed, 06/11/2014 - 13:00 | 4845208 Dublinmick
Dublinmick's picture

US companies were not supposed to, the contracts went to BP .... London wins again, bow before your master

Wed, 06/11/2014 - 15:21 | 4845807 SWRichmond
SWRichmond's picture

I guess all the drones are off attacking wedding parties elsewhere in the world.

Which explains why these dudes can prance around in the desert and seize oil refineries, gold, and weapons stocks and nothing happens to them. No death from above?

Maybe they have a tactical secret and have outlawed weddings?

Or perhaps USSA foreign policy is so convoluted that even the USSA cannot figure it out?

Or maybe, just maybe, they're not really 'enemies"...and USG is happy they're doing what they're doing.

Wed, 06/11/2014 - 16:46 | 4846077 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

I still want to know, what currency did they get $400M of? Iraq-bux? Might be like the guys showing up at the US Embassy in 1975 with suitcases full of South Vietnamese currency...

Wed, 06/11/2014 - 11:15 | 4844709 asteroids
asteroids's picture

"Conquest is easy, control is not!" - Capt. James T Kirk (Star Trek)

Wed, 06/11/2014 - 12:02 | 4844948 Herd Redirectio...
Herd Redirection Committee's picture

Hence the Imperial Coat of Arms (of the Byzantines, Holy Roman Empire, Russian Empire) representing the bicephelous eagle.

One head represents the military, conquest.

The other represents the Church, administration.

Wed, 06/11/2014 - 11:21 | 4844738 Canadian Dirtlump
Canadian Dirtlump's picture

Looking at it another way, if any country is in need of some freedom bombing, it is the saudis. Get rid of the government and leave the resources. Worked for several other countries.



Wed, 06/11/2014 - 11:37 | 4844822 Bananamerican
Bananamerican's picture

Yea! Worked hella good in....Iraq....

Wed, 06/11/2014 - 11:57 | 4844928 Canadian Dirtlump
Canadian Dirtlump's picture

Al CIADA showed up AFTER the war started and only exist because of Saudi money and CIA training.


Hella uncomfortable notion to roll around between the ears. If you bomb the saudis back to the stone age and have the deep state stop training these guys, the problem withers on its own.

Wed, 06/11/2014 - 12:52 | 4845174 sushi
sushi's picture

One of your links uptop indicates that this group is 20,000 strong and growing quickly.

Feeding 20,000 fighters on a daily basis requires a significant logistics effort. Simply providing the required daily water ration to a force this size living in the desert requires both a large logistics train and a secure source of supply in a land where water is a scarce commodity.

Hard to belleve this activity takes place and no one knows anything about it.

Guess NSA needs to do some Tailored Access Operations on the local camel fleet.

Wed, 06/11/2014 - 13:28 | 4845334 Save_America1st
Save_America1st's picture



well, I'm sure obama will be more than fucking happy to send his terrorist brothers as much "aid and comfort" as they need to get them through those tough desert nights without going hungry or thirsty. 

He'll probabaly set up the EBT foodstamp system in Mosul so they can all buy our food and water and charge it back to the American tax payers. 

Wed, 06/11/2014 - 13:34 | 4845371 Four chan
Four chan's picture

lol mr dirtlump you point out an amusing irony that the american paid and bush supported saudis bankrolled this whole terrorist program and despite the saudis propaganda efforts the truth is biting them in the ass.

Wed, 06/11/2014 - 14:18 | 4845570 Canadian Dirtlump
Canadian Dirtlump's picture

the whole thing is fucked. Al quaeda ( or the like ) used weapons they got from the US in Syria to fight Assad to go to mosul and fight the U sbacked regime then stole money and US weapons to go back to syria and fight for the US with again.

Wed, 06/11/2014 - 10:36 | 4844460 Der Wille Zur Macht
Der Wille Zur Macht's picture

I haven't researched "Odet Yinon" yet. Care to give a brief explanation of what you're suggesting before I spend the next 3 hours at work googling this?

Wed, 06/11/2014 - 11:24 | 4844749 espirit
espirit's picture

Israeli Playbook, circa 1982.

Wed, 06/11/2014 - 12:03 | 4844954 Matt
Matt's picture

"The plan operates on two essential premises. To survive, Israel must 1) become an imperial regional power, and 2) must effect the division of the whole area into small states by the dissolution of all existing Arab states. Small here will depend on the ethnic or sectarian composition of each state. Consequently, the Zionist hope is that sectarian-based states become Israel’s satellites and, ironically, its source of moral legitimation."

excerpt from

Wed, 06/11/2014 - 12:13 | 4845012 BigJim
BigJim's picture

Basically... as Israel, would you rather be surrounded by i) nation states that hate you, with the resources of nation states to impinge on your actions, or ii) squabbling, chaotic Islamic Bantustans, whose 'leaders' you can a) bribe with tactical weaponry and the occasional tidbit of intel, or b) occasionally crush with utter impunity if they look like they're getting bit uppity?

Wed, 06/11/2014 - 13:06 | 4845242 john39
john39's picture

the real problem with the plan is that, when it fails, and all the people around you realize how evil you are, you have a serious situation... especially if your sugar daddy and bully muscle is collapsing and broke from fighting your wars.

Wed, 06/11/2014 - 14:17 | 4845557 BigJim
BigJim's picture

I think the people around them already have a very good idea of just how evil they are. And maybe they're as confident of the US retaining Hegemon status as most of the US elite seem to be.

And they probably think they can keep the Shiites and Sunnis at each others' throats for centuries. And why not? The latter have hated each other since long before the Zionists started to get their act together.

The real wild card would be if one of the 'terrorist' groups gets hold of a nuke or two and is genuinely not a CIA/Mossad proxy. But then, as Iran pointed out, why would Muslims want to nuke Palestine when it's their third most holy site, and home to millions of Muslims whom they already see as victims of infidel aggression?

Wed, 06/11/2014 - 14:44 | 4845664 elegance
elegance's picture

Diaspora and thermonuclear weapons. They can't lose. As much as that idea is unpopular here... Masada will not fall again.

Wed, 06/11/2014 - 11:28 | 4844771 Canadian Dirtlump
Canadian Dirtlump's picture

Amen to that. The paid autodidact.

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