THE BULK OF MILLIONS IN PAPER MONEY

THE BULK OF MILLIONS IN PAPER MONEY

I was interested in Graham Bowley's writing about where world dictators "hide" their money in Sunday's NY Times. He notes that el Qaddafi has stashed away billions in U.S. and other currencies in Libya and the problem he would have moving it out of country in bulk.  Imelda Marcos was charged with trying to move 22 crates of Philippine pasos when they fled to Hawaii in 1986. Jean Claude Duvalier and his wife took $33 Million from the Haiti bank and transferred it to foreign accounts in 1986. In Panama Noriega was said to have $5.8 million in US. money – $10s, 20s, 50s & 100s – in his home. In the Congo Mobgutu Sese Seko smuggled crates of diamonds and more then $40 million in cash out of the country on a charted jet. In  Baghdad, of Husseins sons, removed $1 billion in cash from the central bank. The volume was so  large that it took workers hours  to load it on three tractor trailers. In fact, the article says, $1 billion in $100 U.S. bills stacked one on top of the other would weigh 110 tons and take up about 100 storage pallets.

Here's a photo of what $500 Million (1/2 Billion) looks like. It was seized in a drug raid in Mexico:

$500 million

 

So, in case you are planning to try to move your millions in cash bulk, you need to be  prepared for a huge undertaking.

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