Wall Street’s original wolf, Jordan Belfort, warns U.S is drowning in fraud and waste on a biblical scale; here are the reasons he gave

The original "Wolf of Wall Street" and entrepreneur Jordan Belfort, issued a stark warning about widespread government fraud, waste, and abuse on a massive scale. According to Belfort, what’s happening within the US government is not just careless, it’s intentional and could have far-reaching consequences for the country, as per a report.

Discovery by DOGE

According to Fox News, Belfort's comment came after a shocking revelation from the Department of Government Efficiency (DOGE), which announced that it had discovered a huge issue with how US Treasury payments were being tracked.

As per DOGE’s findings, nearly $4.7 trillion in government payments had been “almost impossible” to trace, due to a flaw in the system. The Treasury Access Symbol (TAS), which should have linked these payments to budget items, was often left blank or was optional, making it extremely difficult to trace where the money was going, reported Fox News.

How simple tricks hide government spending?

Belfort said "It's like the oldest trick in the book. Back in the day when I wanted to hide my spending from my father, who worked for me — he was the gatekeeper… So what do you do? You just leave everything blank where the money goes. Who knows? You can't trace it," as quoted by Fox News.

He pointed out that the untraceable payments were not by accident, he also referred to other DOGE findings that had emerged, such as Social Security payments being made to deceased individuals. Belfort also highlighted an example of a study funded by the government that cost $1 million to investigate the mating habits of Japanese quails after consuming cocaine, as per Fox News.

Will the US go broke?

According to Fox News, Belfort appreciated Elon Musk and DOGE for uncovering these issues. He argued that the amount of fraud, waste, and abuse was so significant that it reached "biblical proportions." He also claimed that, without Musk’s intervention, the US might go broke, according to Fox News.

According to him, it’s an amazing time in America, reported Fox News. Belfort said "The fact that Democrats are yelling… Could you look any guiltier?" as quoted by Fox News.

Are there deeper levels of corruption?

Belfort stated that soon there will be discovery that the US should never have had any deficit, reported Fox News. He claimed that much deeper levels of corruption have yet to be uncovered, with the Pentagon and the IRS only now starting to be investigated, as per the report. Belfort said "You follow the money. You see where it goes," as quoted by Fox News.

He also compared the US situation to Argentina’s past corruption, calling it "that on steroids," as per the report. According to Belfort, "If people don’t go to jail for this, then you’ve got to lose all hope in humanity," as quoted in the report.

FAQs

What did DOGE discover?
DOGE revealed that nearly $4.7 trillion in US government payments are nearly impossible to trace due to a flaw in the tracking system. Payments made by the US Treasury lacked an important identifier (the Treasury Access Symbol), making it difficult to see where the money was going or how it was being used.

Why does Belfort believe these issues are not accidents?
Belfort argued that the untraceable payments are deliberate, not accidental. He pointed to other discoveries, like Social Security payments going to deceased individuals and unnecessary government-funded studies, as evidence of widespread waste and corruption.