Technorati Tags: payments
They should try living in a society where there is only cash. Duncan Goldie-Scot sent me this picture yesterday: him trying to sort out his breakfast bill in Benin City…
As well as the inconvenience, there’s also the problem of accountability and audit. I mean, we’ve all lost cash down the back of the sofa, haven’t we? According to today’s news reports, the US has lost quite a bit down theirs. The biggest cash transfer in the history of the Federal Reserve has been reviewed by a US congressional committee. In the year after the invasion of Iraq in 2003 nearly 281 million notes, weighing 363 tonnes, were sent from New York to Baghdad for disbursement to Iraqi ministries and US contractors. Using C-130 planes, the deliveries took place once or twice a month with the biggest of $2,401,600,000 on June 22 2004, six days before the handover. Now, oddly, no-one knows where much of this money has gone or what it was used for.
My opinions are my own (I think) and are presented solely in my capacity as an interested member of the general public. [posted with ecto]