*Iraqi cash

              
Waxman $12 Billion in cash lost in Iraq - (July 2, 2009)                           


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. 

Read the entire article at: 

Billions over Baghdad - (Oct 2007)


Ron Paul, Bernanke Testimony - (Feb 24, 2010)

From yesterday's exchange between Ron Paul and Ben Bernanke:

Ron Paul: ...a lot of cash was passed through - and a lot of people suppose it was passed through the Federal Reserve - when there was a provisional government [in Iraq] after the 2003 invasion. That money was not appropriated by the Congress as required by law...

Ben Bernanke: Congressman, these specific allegations you've made are absolutely bizarre, and I have no knowledge of anything remotely like what you just described.

Let's ask Henry Waxman (July 2009)

Henry Waxman: In a 13 month period from May 2003 to June 2004,the Federal Reserve sent nearly $12 billion in cash, mainly in $100 bills from the United States to Iraq. To do that, the Federal Reserve Bank in New York had to pack 281 million individual bills ... onto wooden pallets to be shipped to Iraq. The cash weighed more than 363 tons and was loaded onto C-130 cargo planes to be flown into Baghdad...