Jordan Belfort, entrepreneur and the original “Wolf of Wall Street,” warned that losing track of money does not happen “by accident,” speaking on a reported discovery that trillions of government dollars in payments were “almost impossible” to trace.
The Trump administration’s Department of Government Efficiency (DOGE) announced it learned about an identification code linking U.S. Treasury payments to a budget line item, and that the line accounts for nearly $4.7 trillion in payments that were “often left blank.”
The Treasury Access Symbol (TAS) was optional for these payments and made tracing the money “almost impossible,” according to DOGE’s post to X, formerly Twitter, on Feb. 17.
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“Listen, 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,” Belfort told “Jesse Watters Primetime” on Tuesday.
He said that making this amount of money nearly untraceable was not by accident, citing other DOGE discoveries such as Social Security payments to deceased individuals and other “small and ridiculous” funding.
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“I actually wrote this down ’cause I didn’t want to get it wrong,” Belfort said, noting a study called “Cocaine induces state-dependent learning of sexual conditioning in male Japanese quail.” “They did this study for a million bucks on that?”
Elon Musk speaks during an event in the Oval Office with President Donald Trump at the White House, Tuesday, Feb. 11, 2025, in Washington. (Photo/Alex Brandon) (AP Images)
Belfort praised Elon Musk and DOGE’s work for uncovering what the entrepreneur described as levels of fraud, waste and abuse reaching “biblical proportions.”
“So thank God for Elon Musk, because without him, we’d be going broke. We would go broke,” Belfort said.
“I think it’s an amazing time in America, and the fact that Democrats are yelling… Could you look any guiltier?” he continued.
Elon Musk listens as President Donald Trump meets with India’s Prime Minister Narendra Modi in the Oval Office of the White House, on Thursday, Feb. 13. (AP/Alex Brandon)
“The Wolf of Wall Street” said he believes we will find out that there should not have been “any deficit at all,” and that the wastefulness goes “much deeper,” highlighting how they have yet to look at the Pentagon and have just started looking into the IRS.
“You follow the money. You see where it goes,” Belfort said.
“They went through this in Argentina, who had a really corrupt president, for what, like, 10 years, and they say she stole, like, $10 billion,” he added about the country before current Argentinian President Javier Milei took office.
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“Well, this is that on steroids. We’re the United States, we’re bigger and better than everybody else,” Belfort said. “So the level of fraud here… I mean, if people don’t go to jail for this, then you got to lose all hope in humanity because, I mean, there is such massive fraud, waste and abuse.”
