Where Did Billions in $100 Bills sent to Iraq Go?

It has been some time since I followed up on the research I did long ago on the missing billions in 100 bill shipped to Iraq.  Some was discovered recently.  http://www.nytimes.com/2014/10/12/world/investigation-into-missing-iraqi-cash-ended-in-lebanon-bunker.html?_r=0 The author is James Risen date of publication is 12 Oct. 2014.  $1.2 to $1.6 billion dollars.  Maybe they are having trouble counting it all and simply weighed it with a margin of error?  It is big bucks.

From the link:
"Mr. Bowen kept the discovery and his investigation of the cash-filled bunker in Lebanon, which his office code-named Brick Tracker, secret. He has never publicly discussed it until now, and his frustration that neither he nor his investigators can fully account for the missing money was evident in a series of interviews." 
Nobody had done anything about it.  A billion bucks is not small change.

This report says SIGIR found that $6.6 billion went to the Iraqi central bank and $2.8 billion was used by DOD agencies.  Really, now?  Case closed by all being accounted for....so they say. 

This link says the location in Lebanon tip came in 2010: http://www.allgov.com/news/where-is-the-money-going/us-said-to-shrug-off-discovery-in-lebanon-of-a-billion-dollars-of-its-missing-iraq-reconstruction-money-141015?news=854535

Risen is a good guy, so is Bowen.  There is a cover up.

 To reduce the subject line question of this blog entry which was examined at length in the prior blog entry to a short answer:

The physical serialized representation of the $100 dollar bills will eventually go out of existence.  Some of it as a physical representation of acceptable legal tender money is decreasingly floating around the world as a medium of exchange but headed for physical extinction by one means or another.  Probably on a half life scale.

The value that the billions in paper cash represented however has been and will continue to be perpetuated in a digital information form as a balance in an account.

With the exception of lighting cigars with the bills, rats eating them or mold decaying them the prior statement is true.

It is the foundational logic of the Information Age that we are able to detach the logical conceptual properties of a thing from its legacy binding physical property representation through abstraction.

The abstract "value" nature of the physical $100 bill is detached from the uniquely serialized bill itself when the "value" it is placed in an account in a mathematical notation of "100".  Its physical identity "name" that was a serial number no longer exists.

Tons of paper go away to nothing.

The value represented by that paper goes on.

It is like a body dying but a spirit living on, as long as you believe in it.

$100 bills amount to 12 billion dollars bearing serial numbers of bills shipped to Iraq will continue to be found in the four corners of the world the trail they took to get there from Iraq will never be known.  The death and destruction they may have caused will never be known.  When the paper ceases to exist its value as money in an account will continue to exist.

Was there a debt based balance sheet counterpart to the $12 billion shipped to Iraq?  It was payment in the form of US Currency by the NY Fed out of an account of money held for and due to Iraq.  It was Iraq's money.  When sent to Iraq it must have gone off the liability side of the NY Fed balance sheet.

If the value of money shipped to Iraq as US currency dollars was total seigniorage  to US Treasury then what?  $12 billion became positive money with no debt counterpart?  In other words it became positive based money?

Where Did Billions in $100 Bills sent to Iraq Go?

The paper goes to its physical existence grave....ultimately.

The value associated with the dead paper lives on in the world of bank accounting where it has no debt balance counterpart substantiating its creation from nothing?  However, having no debt based balance sheet counterpart its value in billions of dollars lives on in bank accounts that can be spent to pay back loans?

The question persists, where does the money go in that case?

Who benefits is a good question and how dey do dat?

If there was a third party accounting entity in the balance sheet account system established using blockchain public ledger methodology then there might be and answer to that question because the blockchain documents accountability external to the banking system accounting structure.

The debt based money system will go away when we pry it from the cold dead fingers of the banksters.  Permit them their debt based balance sheet system of creating money by loaning it into existence.  Simply apply a blockchain accountability third party accounting entity that establishes accountability and therefore control of the debt based monetary system.

My solution is blockchain not at the transaction level of account but at the single unit dollar level of money values related to all banking balance sheet accounting transactions.  A blockchain that perpetuates the traceable unique identity of money at the unit dollar level beyond the extinguishing of debt by a loan repayment and reintroduces money suspended from circulation as a function of bank loan settlement.

I believe that the biggest banking fear is that this third party accounting entity made possible by Information Age technology will be subject to management and control external to the banking system.  It is something that they absolutely must have under their own self monitoring umbrella called the fox in the hen house.

Banksters are scared.  They know there is a big change called a paradigm shift coming and they desperately must be out ahead of it.  The nature of the race is against them because the tech industry is by virtue of its nature better able to create and control conceptual information better and faster than the banking institution.  Money and Finance is essentially an Information problem domain and banking is a lumbering legacy institution.

The worst case scenario for the banksters is that the government becomes the institutional entity either in charge of this third party blockchain accountability system for the common good or having the authority to assign responsibility for its independent operation.

Money rules in our capitalistic system therefore banks will somehow grab control of this situation.

China, however, regardless of how we may view their governance system, is more likely to control the establishment and management of a new monetary system based on blockchain accounting control for the benefit of the People's Republic.

My prediction for the winds of change in 2016.

Perhaps the Iraq debacle and everything that followed has something to teach that we have not learned yet and that is........essentially related to money as a decision making tool of society.

http://www.econotimes.com/Blockchain-Technology-To-Revolutionize-Banking-System-136233

Blockchain is very versatile in application to seal a deal of a binary balancing relationship as factually verified by a third party:

http://technical.ly/brooklyn/2015/11/11/couple-got-married-blockchain/ 
“My family thinks we’re crazy,” Jackson said. “I tried to explain it to them but all my dad could do was joke about it, calling it the ‘old block and chain!'”