Jump to content

All that glitters...


Recommended Posts

"quality notes" yeah, right. give me the copper and zinc, lol...

 

qo

 

Sad Man's Copper

 

Gold bars found in Iraq turn out to be mostly copper                

                                   

Fri August 1, 2003 04:43 PM ET  WASHINGTON, Aug 1 (Reuters) - Gold-colored bars seized by  U.S. forces in Iraq appear to be melted-down shell casings made  mostly of copper, rather than gold, the White House said in a  report obtained on Friday.

 

The U.S. military announced the discovery of truckloads of  gold-colored bars in May.

 

One haul was estimated to be worth as much as $500 million.  Another was estimated at $100 million, though the driver of the  truck said the bars were actually copper.

 

In a report to Congress detailing U.S. reconstruction  efforts, the White House budget office said 1,100 gold-colored  bars were recovered in Iraq and that samples were taken to  Kuwait for testing.

 

"Analysis of the initial sampling of ingots revealed they  were compromised of approximately 64 percent copper and 34  percent zinc. Consultation with metallurgists indicates the  bars analyzed to date are most likely melted-down shell casings," the report said.

 

U.S. forces also found about $800 million in U.S. dollars  in Iraq. Just over $7 million could not be authenticated  because the notes were wet and damaged, according to the  report.

 

But the White House budget office said the Pentagon was  working with the U.S. Federal Reserve to exchange the damaged  notes for "quality notes that can be utilized."

Link to comment
Share on other sites

  • Replies 0
  • Created
  • Last Reply

Archived

This topic is now archived and is closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...