Half a Billion in Gold found in Iraqi Truck

Reuters | May 23rd, 2003 | Reuters

[12B]

17:15 23May2003 RTRS-UPDATE 1-US seizes what may be $500 million in gold in Iraq

(Add details, background) WASHINGTON, May 23 (Reuters) - American troops have seized what appears to be $500 million worth of gold bars from a truck in Iraq, the U.S. military said on Friday. The 2,000 40-pound (18 kg) bars were seized on Thursday at Qaim on the Syrian border in western Iraq by soldiers of the 3rd Armored Cavalry Regiment, the U.S. military's Central Command said in a statement. It said the bars could be gold and worth as much as $500 million, depending on karat weight and purity. The Central Command, which headed the U.S.-led invasion of Iraq to depose President Saddam Hussein, said soldiers found the bars while conducting "a routine traffic control search" of a Mercedes truck near the border. Two occupants of the truck, who were taken into custody, told the soldiers they had been told the bars were bronze, according to the command statement. The two also told soldiers they had been paid 350,000 Iraqi dinars (about $350) to pick up the truck in Baghdad and drive it to Qaim and turn it over to an individual. U.S. troops last month found an estimated $600 million in U.S. cash in boxes near Baghdad palace complexes. This month, U.S. officials said Saddam's son Qusay took about a billion dollars in currency from the central bank in Baghdad just before the Iraq war, but that most had been recovered. ((Reporting by Charles Aldinger and Will Dunham, editing by Stuart Doughty; Reuters Messaging: steve.holland.reuters.com@reuters.net; +1 202-898-8300, fax +1 202-898-8383)) For Related News, Double Click on one of these codes: [G] [UKI] [EMK] [C] [MTL] [GRO] [SOF] [RNP] [DNP] [PGE] [GOL] [US] [NEWS] [WASH] [IQ] [MEAST] [CRU] [PROD] [SY] [MET] [LEN] [RTRS] Friday, 23 May 2003 17:15:51 RTRS [nN233960] {EN} ENDS

[panaxanax]

Makes you wonder how much gold and cash got out that we haven't found. Not to mention the missing nuclear & biochemicals that will undoubtably end up in the hands of the likes of bin Laden. It is scary.

[bert]

It will be interesting if this turns out to be the property of Kuwait. The Kuwaiti gold reserves were looted by the Iraqis in the gulf war and are part of what they kuwatis are looking for in return.

The gold may be marked and identifiable. It would not be reparations, it would be the return of stolen property.

[irish guard]

The press is all bent out of shape over how slowly we are putting the new government in place. This kind of story only confirms we are doing the right thing. There are undoubtedly still a lot of undesirables in and around Iraq that need to be found and killed or at least "neutralized".

[RadiationRomeo]

Thats a lot of gold. I did some quick estimates. Not sure the usual size of a gold bar but if it is 8x4x3 inches then 2000 bars only takes up 20 feet x 4 feet x less than 1.5 feet. However the weight of 40 tons seems like a lot for one truck. I bet there is only half that on board.

[BlueNgold]

Do you think there's any chance that the beloved government would give the tax payers their 1.5 Billion back ?

Let's see ... thats about $6 each ... not even enough for a 6pack of the good stuff. Guess Im stuck with PBR again ...

[battlegearboat]

false alarm...

Turns out it was just gold wrapped chocolate bars...

bummer...

[kesg]

Looks like we need to have another talk with the Syrians about turning over the Husseins or else.

[RightWhale]

However the weight of 40 tons seems like a lot for one truck.

That a capital T TRUCK, not a UPS van.

[Redbob]

80K lbs would be no problem for an American-made Class 8 truck - but it would be illegal in many states, 80K lbs being the max allowable GVW.
Places like Michigan and Illinois (notice their roads!) allow 150K lbs or so for intra-state travel.

[Mad_Tom_Rackham]

American troops have seized what appears to be $500 million worth of gold bars from a truck in Iraq...

[ppaul]

Who cares if it wasn't a "mobile biological weapons laboratory"?!!
Gimme the GOLD baby!!!

[crz]

Mich allows 164,000 lbs max. Depending on axle configuration. Better roads overall here than in Wisconsin where its 80,000 lbs. Although I would like to see it lowered to 125,000 max. Kinda hard to stop one of them when some idiot pulls out right in front of you in a car.

[Fabozz]

"80K lbs would be no problem for an American-made Class 8 truck - but it would be illegal in many states, 80K lbs being the max allowable GVW."

I don't think you'd have a problem getting out of the ticket, though. "What's that, officer? My rig's overloaded? Gosh, we can't have that—why don't you take one of these bricks and then we'll see whether I'm still overweight."

[wcbtinman]

80K of cargo would be way over gross weight for a class 8 truck, and would probably break a few a bunch of parts if you tried to move it, especially over the kinds of roads they have in Iraq.

US trucks typically haul around 45 thousand in cargo weight for an all up weight of 80,000lbs.

I haven't seen the truck involved, but it is possible to haul this much weight with several additional axles, and other specialized equipment.

[crz]

A tandam axle would handle it-depends if they had 38 thousand pound rears on it or 46. Would make it waddle and set her down, but she'd take it. Would be slower than heck, and that is most likely why they got nabbed.

[jjm2111]

"More like a botched Arab version of "Kelley's Heroes". (A much better movie BTW)"

Never seen it.

[Teacher317]

I KNEW I left that somewhere!

[Teacher317]

Iraq's only got about 25 million people... call it 12 million taxpayers... that's about $120 each. In Iraq, that just might be a good bonus check.

[Porterville]

That will pay for part of the war...good.

[Teacher317]

Iraq's only got about 25 million people... call it 12 million taxpayers... that's about $120 each. In Iraq, that just might be a good bonus check.

Checking my almanac... 23 million people, $2500 GDP. $120 bucks is more than a two-week paycheck. I'd take that as a rebate!