Fed Refuses Requests To Trace U S Dollars Found In Saddam’s Stash
Posted by: Anonymous on Feb 03, 2004 – 03:57 PM
Martin Mayer, Associated with Brookings Institution, author of “The Fed” (if you haven’t read it…your fate will be greatly sealed!) His comments appear in the New York Times,
“Tracing the U S Dollars Found In Saddam’s Stash” Connecting the U S Mint to a dusty spider hole is a trail of currency transfers-but the Fed is mum”
“AMong Saddam’s possesssions when he was captured was three-quarters of a million dollars in U S currency in crisp “NEW” (emphasis supplied by Zorro) bills. Whence (ahhh, a gentle-writer I adore!) came the gentleman’s stash? Answering this question would help our understanding of terrorist financial networks. And if the cash is squentially numbered (editor-Saudi-1 thru Saudi 750,000 eg) , as is likely, then the question could be easily answered. (editor-of course the answer could prove to be very embarrasing if the cash came through Homeland Security-read advertising budget–connections within 10 days of Saddam’s alleged surprise capture!)
All U S currency is printed by the U S Mint, to the order of (by request) one of the 12 banks in the Federal Reserve System. It comes into circulation through a bank that has an account at the Fed for which it was specifically printed. The Fed deducts the face value…and an armored car takes them to their new owner. (Tom Ridge?)
The regional Federal Reserve Bank that records the transfer on its records identifying the purchasing bank. (So we all know which Saudi Prince lives closest to it for the pick up–just kidding! Everyone knows Saudis print their own money!) When they (a banding of bills) is found all together, it means that the bank that purchased the bills did not feed them out through from a teller window or cash machine but delivered them to a specific customer. (According to Zorro’s sources about 90% of all cash is dispensed from hand to hand at a bank–so big hog-choking clumps are extremely simple to trace!)
And the bank knows who that customer was, say between the Philadelphia Federal Reserve and Iraq, there is no doubt a chain, perhaps involving banks in the Cayman or Channel Islands, in Abu Dhabi or Dubai. (not to mention Dub-ya)
ALthough Saddams’ govt had many sanctions against it, it may well be that no laws were broken in the passage of the Federal Reserve notes from the Mint to Tikrit. Bit it would be interesting to know which banks were collaborators in getting the cash to the tyrant of Iraq.
UNFORTUNATELY, (can you Fed-Haters guess where this is going, yet?) the search for those collarborators cannot even get started , because the Federal Reserve Board (read-Saudi Hand-Puppets) will not permit regional banks to reveal the identity of the purchasers of large blocks of US currency (how convenient for the Bush family Robber-Sons!) . There is no law that prohibits such disclosure. It’s simply a Fed policy.
(Insert–Remember that the Presidency sets money policy through Treasury..not Congress!)
The Fed has ALWAYS resisted (shall we say “refused”) placing (read-allowing) U S (subservient) Banks to reveal skullduggery (read-nasty Fed Policy that the Fed wants to keep hidden from the U S population) whether it involves drug smuggling, commercial fraud, terrorism or other international conspiracy. Banks are NOT, the Fed insists, law enforcement agencies.
(Zorro agrees, but don’t U S citizens have a moral obligation to report crimes? Oooops…you dont’ mean to tell me that banks aren’t controlled by US Citizens do you! You don’t think the Fed Reserve system has a hidden agenda, do YOU! I think it is fascinating that the Fed secretly profits by the transfer in the ordinary course of business of hundreds of billions of dollars in terrorist funds, drug smuggling, and international conspiracies such as the Saudi Princes selling kidnapped (sorry, I mean forced patriation victims) 11 year old Yemeni girls to Saudi Princes?. Does that mean the Fed doesn’t have to account for that money either?)
The may be that the FBI (read Homeland Security & CIA) has access to the Fed’s records…but it is not clear that the FBI has authority to continue such searches beyond American borders.
(Stupid, crazy old retired consultant Zorro wants you to know that funds in the Federal Reserve system are “…behond American borders.” What’s in your wallet, American?)
The Fed’s manual on the Bank Secrecy Act says that, …while desirable…such rules “should not interfere with the relationship of the financial institution with its good customers.”
(So, there you have it. The Federal Reserve System is NOT an American institution, it has no law except the law of secrecy and respects not ethics or morals except for “CASH”! It should be remember that the Federal Reserve Bank in Florida is one of the “healthiest” in the Nation due to Florida’s even LESS RESTRICTIVE laws on secrecy, especially those of “international banking” customers. You see, the Federal Govt isn’t allowed to regulate the relationship between Florida’s international banking community (headed by Jeb Scampit?) and it’s very valuable arms dealling billions. Florida even has a very fancy name for secrecy that makes Swiss Bank Law look like gossipy fishmogers…It’s is called “Private Banking” and it prohibits tracing ANY funds in international funds. It sure is lucky that the RepubliKKKans have such a wonderful governor like Jeb Bush…a regular man made wonder!)
(Before I resume the article would you like to know which banks in Florida hold the most Saudi Money? Citigroup, HSBC(HongKongShangHaiBankCorp), and IBN! Ahh..the Bermuda Triangle of Terror Cash@!MOre at 11:00)
Sens Grassley and Max Baucus, chairman and ranking members (read Republicans) of the Finance Committee (what a joke!) complained to the Treasury Dept (Read-Saudi/Pentagon ATM Card—The Fed is the actual money dispenser!) that not enough has been done to keep the financiers of terrorism from paying their bills through the American financial system.
(I think it’s sad when perfectly good Republicans get ignored by the very government they bought and paid for…don’t your?)
Perhaps Congress should tell the Fed to release its hold on information about which banks supply the bundles of cash that facilitate international crime.