Banking on War
It is sometimes interesting to note how supporting America’s increasingly expensive overseas empire sometimes feed abuses back here at home. It is being reported that “Between 2003 and 2008, over $40 billion in cash was secretly shipped in trucks from the New York Federal Reserve compound in East Rutherford, New Jersey to Andrews Air Force Base outside of Washington, where it was then flown by military aircraft to Baghdad International Airport. In just the first two years, the shipments of hundred dollar bills weighed a total of 363 tons.” The money made its way to the US authorities in Baghdad and then wound up with a Saudi-born naturalized Lebanese-American citizen hired as a civilian contractor for the US military. Only his first name is known: Basel. Basel was the last to see the money before it was deposited in the Iraqi Central Bank and then disappeared.
The money did not come out of deposit accounts at the Fed. It apparently was just printed up to support the military presence and reconstruction effort, another example of how the unaccountable Fed is both destroying the domestic economy and feeding the war effort, a double whammy waste of America’s resources that benefits no one.