forged registration
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Dec-17-2005
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Message #113385 posted by forged registration (Info) March 17, 2008 14:44:09 ET
In Reply to: iraq is hiding its money at the US federal reserve posted by forged registration (Info) March 17, 2008 14:43:00 ET
"Aside from funds deposited in the Central Bank of Iraq to cover the budget, all of Iraq's revenues, seized assets and the leftover from the former Oil-for-Food program are in the DFI, held at the Federal Reserve Bank of New York.
"They are invested in U.S. treasuries," said Yahia Said, director for Middle East and North Africa for the Revenue Watch Institute. "They are lent back to the U.S. government at a very good interest rate. So the United States is not necessarily losing on that."
The State Department official said about $12 billion -- and more depending on any given day's deposit -- is in "an account into which they put revenues and out of which they draw for expenditures."
Another account contains $27 billion in currency reserves, the Financial Times reported last month, which protects the value of the Iraqi dinar and are "not available for financing matters of the state," the department official said."
- there's your money sareal: iraq is hiding it in the usa...go raid their accounts and finish them off!!
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