Voice from the Commonwealth
Commentary, World Views and Occasional Rants from a small 'l' libertarian in Massachussetts

"If ye love wealth greater than liberty, the tranquility of servitude better than the animating contest for freedom, go home and leave us in peace. We seek not your council nor your arms. Crouch down and lick the hand that feeds you, and may posterity forget that ye were our countrymen." - Samuel Adams

Thursday, June 26, 2003

US Treasury has already given back to the Iraqi people, half of the $1,700,000,000 that had been confiscated from Iraq's previous dictators.

The U.S. confiscated the money in March from accounts that had been frozen. The accounts had belonged to Saddam Hussein's Iraqi regime, and the U.S. pledged to use the funds to help with reconstruction.

"A mechanism for emergency payments was quickly established on the ground so that payments could begin for dock workers, power-plant workers and others," said Randal Quarles, Treasury's assistant secretary for international affairs, in prepared text for a speech to the Cato Institute.

"Despite tremendous logistical challenges, the system of payments has been a success, placing money in the hands of consumers and helping to spur commerce," Quarles said.

< email | 6/26/2003 04:04:00 PM | link

<< Designed by Ryon

Western Civilization and Democracy Net Ring

The Western Civilization and Democracy Net Ring celebrates Western civilization and its universal values of individual freedom, political democracy and equal rights for all. All sites promoting human rights and democracy are welcome.

[Prev Site] [Stats] [Random] [Next 5 Sites] [List Sites] [Next Site]