U.S. Sent $4 Billion in Cash to Baghdad Before Handover

February 7th, 2007

Oh sure. And in other news, Lieberman wants a war on terror tax. Tell me another one.

Via: Reuters:

The U.S. Federal Reserve sent record payouts of more than $4 billion in cash to Baghdad on giant pallets aboard military planes shortly before the United States gave control back to Iraqis, lawmakers said on Tuesday.

The money, which had been held by the United States, came from Iraqi oil exports, surplus dollars from the U.N.-run oil-for-food program and frozen assets belonging to the ousted Saddam Hussein regime.

Bills weighing a total of 363 tons were loaded onto military aircraft in the largest cash shipments ever made by the Federal Reserve, said Rep. Henry Waxman, chairman of the House of Representatives Committee on Oversight and Government Reform.

“Who in their right mind would send 363 tons of cash into a war zone? But that’s exactly what our government did,” the California Democrat said during a hearing reviewing possible waste, fraud and abuse of funds in Iraq.

Posted in Covert Operations, War | Top Of Page

3 Responses to “U.S. Sent $4 Billion in Cash to Baghdad Before Handover”

  1. Mark says:
    February 7, 2007 at 4:50 am

    In other news… the Iraqi Dinars I purchased as an “investment” 2 years ago are worthless.. they have only appreciated about 10% in 2 years, which is less than the markup % I paid for them.

  2. wolfpigeon says:
    February 7, 2007 at 8:33 am

    Thats a huge wheel barrow to hold 363 tons of paper, equally a huge loaf of bread

  3. AHux says:
    February 7, 2007 at 10:08 am

    Hi

    I put a 45 min documentary about this on youtube
    Part 1 of 6. Sad ending. http://www.youtube.com/watch?v=tzWk4G9NwVQ

    Click on A1Huxley and see the other 5 parts listed.

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