Re: OT - What a Country

"Tchiowa" <tchiowa2@xxxxxxxxxxx> wrote in
news:1149998409.315140.173250@xxxxxxxxxxxxxxxxxxxxxxxxxxxx:


ian wrote:
Tchiowa wrote:

ian wrote:

<snip>

$12 billion in cash that the Pentagon flew into Iraq straight from
Federal Reserve vaults via military transports, and for which there
has been little or no accounting."


<snip>

Ian


Are you nuts? Do you really believe that the government has vaults
full of billions of dollar in cash that they fly around on
airplanes?????

If anyone needed any further proof of just how "far out there" you
Lefty Loons are, you just gave them everything they need.


Yes, pick out a detail, avoid the elephant in the room. The
investigation of corruption among Iraqi contractors has been quietly
squelched. Spector is trying to give amnesty to law-breakers. And
lefty-loons are the people to rave about. (We know that the ultimate
loss of Iraq will be laid to the liberals and the media - that has
started already).

The "detail" is just one example of how idiotic the entire article was
and how gullible you Lefties are.

Some info on the "detail" from different sources:
The Federal Reserve Shipped Nearly $12 Billion in U.S.
Currency to Iraq The Federal Reserve shipped $11,981,531,000 in U.S.
currency to Iraq between May 2003 and June 2004, according to documents
from the Federal Reserve Bank of New York.16
The cash was drawn from the DFI and TSPA accounts containing
revenues from sales of Iraqi oil and frozen and seized assets of the
former regime. The CPA also controlled $926,700,000 in U.S. currency
seized within Iraq, mainly from the vaults of the former regime.17
This currency was shipped to Iraq on pallets loaded into C-130 cargo
planes. A standard pallet of U.S. currency contains 40 "cashpaks" of
16,000 bills each and weighs 1,500 pounds.18
In the thirteen months that the United States administered the DFI and
TSPA, 484 pallets containing 19,360 cashpaks were shipped from New York
to Iraq.19
These pallets held more than 281 million individual bills, weighing 363
tons.20
In total, the U.S. shipped to Iraq more than 107 million
$100 bills.21
16 Federal Reserve Bank of New York, Summary: Special Currency Shipments
to Iraq;
Letter from Federal Reserve Bank of New York to Minority Staff (Feb. 15,
2005).
17 Special Inspector General for Iraq Reconstruction, Quarterly and
Semiannual Report to
the United States Congress, 58 (July 30, 2004).
18 Federal Reserve Bank of New York, Summary: Special Currency Shipments
to Iraq;
Letter from Federal Reserve Bank of New York to Minority Staff (Feb. 15,
2005).
19 Id.
20 Id.
21 Id.
According to internal Federal Reserve Bank records, CPA officials who
controlled the DFI and TSPA ordered an initial shipment of currency to
Iraq in April 2003, comprising $20,008,000 in $1, $5, and $10 bills.22
Over the next two months, the shipments became larger: $179,340,000 in
May 2003 and $465,920,000 in June 2003. Cash shipments from New York into
Iraq continued at an average rate of once or twice a month for the rest
of the year: $391,200,000 in July, $808,200,000 in August, $400,000,000
in September, $463,975,000 in October, and $500,000,000 in November.
The December 12, 2003, shipment was markedly larger - $1.5 billion - and
was described by a Federal Reserve official in an e-mail message as "the
largest pay out of U.S. currency in Fed history."23
In 2004, the shipments became more regular. The records show shipments of
$750,400,000 in February, March, and April. As the CPA prepared to
transfer authority to the interim Iraqi government, however, the scale of
shipments increased suddenly and sharply: $1 billion was shipped in May
2004, followed by two massive shipments totaling more than $4 billion in
the week before the transfer of sovereignty.
22 Federal Reserve Bank of New York, Summary: Special Currency Shipments
to Iraq; Letter from Federal Reserve Bank of New York to Minority Staff
(Feb. 15, 2005).
23 E-mail from Robert Kraus to Joseph Botta (Dec. 12, 2003) (DFI-
Cash00220)
http://www.democrats.reform.house.gov/Documents/20050621114229-22109.pdf

"On March 20, President Bush vested $1.7 billion of assets and placed
them in an account at the New York Fed to be used to support
reconstruction. Treasury representatives, in close cooperation with the
New York Fed and the Department of Defense, arranged the delivery of $199
million of these vested assets in three shipments from a storage facility
in New Jersey to Andrews Air Force Base, where the currency was loaded on
a transport and flown to the region. A fourth shipment of $358 million
will be made shortly.

A mechanism for making emergency payments was quickly established on the
ground, so that payments could commence for dock workers, rail workers,
power plant workers, and others."
http://www.treas.gov/press/releases/js452.htm

"Another essential operational issue concerned the actual shipping of the
currency to Iraq, and a plan for making the payments to workers and
pensioners on the ground had to be developed. We estimated that enough
currency in the right denominations was in storage in the New York Fed's
warehouse in East Rutherford, New Jersey, and we determined that it was
feasible to ship the currency by tractor trailer to Andrews Air Force
Base, load it on military aircraft, and fly it to Camp Arifjan in Kuwait
for the last leg into Iraq."
http://www.treas.gov/press/releases/js734.htm

"The Bank worked with the Coalition Provisional Authority in Iraq on the
rehabilitation of the Iraqi financial system and provided guidance on the
drafting of a new Central Bank of Iraq statute covering, among other
things, governance structure, monetary policy objectives, and functions.
This effort included the temporary assignment of a Bank official to work
with international and local authorities in Baghdad to re-establish the
financial infrastructure. On behalf of the U.S. Treasury, the Bank also
provided special cash services in the form of frequent large-dollar-value
currency shipments to Iraq."
http://www.newyorkfed.org/careers/Legal_Function_Resume.PDF

"Silva was recruited to help set up an account for Iraq's oil proceeds at
the Federal Reserve Bank of New York.
"All of Iraq's oil proceeds came to the Federal Reserve Bank," Silva
said. "That's where we maintained a special account that was mandated by
the United Nations, and that account was called the Development Fund for
Iraq."
Silva explained that because Iraq is a cash economy, there is literally
no way to transfer money electronically. Instead, the Federal Reserve
Bank transports billions of dollars in cash to Iraq.
The cash is transported in large, unmarked tractor-trailers with a
helicopter escort overhead. The cash is taken to Andrews Air Force Base
and loaded onto a military aircraft and flown to Iraq.
"I think our largest shipment was over $2 billion in cash," Silva said.
"That took several tractor-trailers.""
http://independent.gmnews.com/news/2004/0825/Front_Page/034.html


The elephant in the room is that you have a very tenuous grip on
reality.



Nick
.

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