When I click on the mouse wheel to move an object, Blender oftens turns the screen blank. When I move the mouse somewhere else it reappears, and turns blank again if I move the mouse over it again.

I have to restart Blender every time.

I am using Blender 2.65 but it did the same thing with an other version in the 2.6 series.

Ensure your graphic card drivers are up to date
In File / User Preferences / System, try changing the window draw method