Billions over Baghdad

[aggiesal]

Source: Vanity Fair - October 2007 Issue

Between April 2003 and June 2004, $12 billion in U.S. currency—much of it belonging to the Iraqi people—was shipped from the
Federal Reserve to Baghdad, where it was dispensed by the Coalition Provisional Authority. Some of the cash went to pay for
projects and keep ministries afloat, but, incredibly, at least $9 billion has gone missing, unaccounted for, in a frenzy of
mismanagement and greed. Following a trail that leads from a safe in one of Saddam's palaces to a house near San Diego, to
a P.O. box in the Bahamas, the authors discover just how little anyone cared about how the money was handled.

Hidden in plain sight, 10 miles west of Manhattan, amid a suburban community of middle-class homes and small businesses,
stands a fortress-like building shielded by big trees and lush plantings behind an iron fence. The steel-gray structure,
in East Rutherford, New Jersey, is all but invisible to the thousands of commuters who whiz by every day on Route 17.
Even if they noticed it, they would scarcely guess that it is the largest repository of American currency in the world.

Officially, 100 Orchard Street is referred to by the acronym eroc, for the East Rutherford Operations Center of the Federal
Reserve Bank of New York. The brains of the New York Fed may lie in Manhattan, but xeroc is the beating heart of its
operations—a secretive, heavily guarded compound where the bank processes checks, makes wire transfers, and receives and
ships out its most precious commodity: new and used paper money.

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Read more: http://www.vanityfair.com/politics/features/2007/10/iraq_billions200710?printable=true¤tPage=all

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I know this is DU knowledge for years now, but hopefully
this finally makes into the MSM before the primaries.

[peacetalksforall]

1. Would Rumsfeld also add that he is not up on missing money

because he is busy working on his papers. That's what he said when asked to comment about the developing news from Iraq - posted yesterday on DU.

Isn't Sep 19 tha day mentioned in new put-option speculation?