Posts filed under 'Economic Background'
…..Why then did the U.S. invade Iraq? Why is occupying Iraq so “vital” to those “national security interests” of ours? None of this makes sense if you don’t have the patience to drill a little beneath the surface - and into the past; if you don’t take into account that, as former Deputy Secretary of Defense Paul Wolfowitz once put it, Iraq “floats on a sea of oil”; and if you don’t consider the decades-long U.S. campaign to control, in some fashion, Middle East energy reservoirs. If not, then you can’t understand the incredible tenaciousness with which George W. Bush and his top officials have pursued their Iraqi dreams or why - now that those dreams are clearly so many nightmares - even the Democrats can’t give up the ghost…..
Continue Reading November 1st, 2007
Is there a relationship between the bombing of Lebanon and the inauguration of the World’s largest strategic pipeline, which will channel more than a million barrels of oil a day to Western markets?
Virtually unnoticed, the inauguration of the Ceyhan-Tblisi-Baku (BTC) oil pipeline, which links the Caspian sea to the Eastern Mediterranean, took place on the 13th of July, at the very outset of the Israeli sponsored bombings of Lebanon…..
Continue Reading July 26th, 2006
Significantly, the fastest growing global money field is Islamic financing. Islamic bonds, or sukuks - unlike most U.S. bonds, which pay interest - are securities that pay out revenue streams from rents and leases in accordance with Shariah law. In its infancy, the field claims about a half trillion dollars. If the Islamic nations were to adopt a gold standard as their underlying currency basis, it could have multinational appeal…..
Continue Reading March 3rd, 2006
The Iranian government has finally developed the ultimate “nuclear” weapon that can swiftly destroy the financial system underpinning the American Empire. That weapon is the Iranian Oil Bourse slated to open in March 2006. It will be based on a euro-oil-trading mechanism that naturally implies payment for oil in Euro. In economic terms, this represents a much greater threat to the hegemony of the dollar than Saddam’s, because it will allow anyone willing either to buy or to sell oil for Euro to transact on the exchange, thus circumventing the U.S. dollar altogether. If so, then it is likely that almost everyone will eagerly adopt this euro oil system…..
Continue Reading January 20th, 2006
This report reveals how an oil policy with origins in the US State Department is on course to be adopted in Iraq, soon after the December elections, with no public debate and at enormous potential cost. The policy allocates the majority (1) of Iraq’s oilfields - accounting for at least 64% of the country’s oil reserves - for development by multinational oil companies.
Iraqi public opinion is strongly opposed to handing control over oil development to foreign companies. But with the active involvement of the US and British governments a group of powerful Iraqi politicians and technocrats is pushing for a system of long term contracts with foreign oil companies which will be beyond the reach of Iraqi courts, public scrutiny or democratic control…..
Continue Reading November 1st, 2005
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