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Belle of the Ranch

Let's talk about the $6.2 billion error....

Belle of the Ranch

Belle of the Ranch

Society & Culture

4.91K Ratings

🗓️ 23 June 2023

⏱️ 6 minutes

🧾️ Download transcript

Summary

Let's talk about the $6.2 billion error....

Transcript

Click on a timestamp to play from that location

0:00.0

Well, howdy there, internet people, Lidsboo again.

0:03.0

So today we are going to talk about an accounting error,

0:08.0

6.2 billion dollars.

0:12.6

And we're going to talk about that error, how that occurred.

0:17.7

We're going to talk about a contextual error because it is not being explained well and it has led people to believe that

0:27.4

there's like 6.2 billion dollars in cash that was somehow missing.

0:33.2

And we're going to show where that money went

0:37.4

and how it disappeared.

0:40.6

And you'll get to see it in real life. I can show you where you can witness this occur

0:46.6

for yourself. Okay, so if you have no idea what I'm talking about. The Pentagon said that it made a $6.2 billion accounting error

0:58.7

when it comes to the amount of money it has given Ukraine.

1:05.0

And that's the way it's being said, the amount of money.

1:08.4

The Pentagon is not actually handing wads of cash

1:11.9

to Ukraine. That's not what's occurring. They're giving them equipment.

1:17.0

So did they lose $6.2 billion worth of equipment? Kind of, but they lost it a long time ago.

1:25.0

Okay, I want you to picture you buying a $60,000 suburban, brand new.

1:39.2

When you drive it off the lot, you drive it from the dealership to your house. Your $60,000 suburban is now worth $54,000.

1:47.0

Generally speaking, you lose between 9 and 11% the moment you drive a brand new vehicle off the lot.

1:58.9

Military vehicles are the same way.

2:02.3

You then lose basically 20% the first year and then 15 to 25% every year

2:10.6

there after for the first five years.

2:13.0

So the value drops pretty quickly.

...

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