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i had posted this in a response on the political forum but i think the implications belong on the business forum:
The intrusive presence of the Baghdad embassy extends to the all-important oil industry, which today provides 95% of the government's funds. When it comes to energy, the occupation has long sought to shape policy and transfer operational responsibility from Iraqi state-owned enterprises of the Saddam Hussein years to major international oil companies. In one of its most successful efforts, in 2004, the U.S. delivered an exclusive $1.2 billion contract to reconstruct Iraq's decrepit southern oil transport facilities (which handle 80% of its oil flow) to KBR, the notorious former subsidiary of Halliburton. Supervision of that famously mismanaged contract, still uncompleted five years later, was allocated to the U.S. Inspector General for Iraq Reconstruction.
The Iraqi government, in fact, still exerts remarkably little control over "Iraqi" oil revenues. The Development Fund for Iraq (WHOSE REVENUES ARE DEPOSITED IN THE FEDERAL RESERVE BANK OF NEW YORK) was established under U.N. auspices just after the invasion and receives 95% of the proceeds from Iraq's oil sales. All government withdrawals are then overseen by the U.N.-sanctioned International Advisory and Monitoring Board, a U.S.-appointed panel of experts drawn mainly from the global oil and financial industries. The transfer of this oversight function to an Iraqi-appointed body, which was supposed to take place in this January, has been delayed by the Obama administration, which claims that the Iraqi government is not yet ready to take on such a responsibility.
as the beginning as is now blood for oil....why does it always have to be our strong young american men and women that are treated like pawns in a game so big corp.ie haliburton ..(who Cheny owns alot of stock in)and buisness gain all benefits and proceeds from useless and needless wars. Lady Bird johnson owned alot of stock in Brown and Root during the Vietnam war which I believe evolved into KBR or Haliburton same ole BS just more of it .
And that benefit program includes being invaded, bombed, children mass killed, millions of refugees and homeless, dumped with tons of depleted uranium weapons, and then occupied by foreign troops with no real end in sight.
That is one heck of a benefit package.
Lesson learned? If you have Oil -- it better be sold in US Dollahs.
i think the lesson learned is that all americans, (taxpayers, soldiers, and citizens) are being manipulated for the benefit of some very wealthy people connected to the government, not just with iraq, but here as well. isn't it obvious with the secrecy of the federal reserve and our congressional unwillingness to audit the fed and shine the light on the financial activities?
i think the lesson learned is that all americans, (taxpayers, soldiers, and citizens) are being manipulated for the benefit of some very wealthy people connected to the government, not just with iraq, but here as well. isn't it obvious with the secrecy of the federal reserve and our congressional unwillingness to audit the fed and shine the light on the financial activities?
I am not sure I would connect Iraqi with the Federal Reserve. The secrecy of the Fed has in my opinion to do with the fact that we have a monetary system setup that constantly devalues the currency as long as its in place so auditing the Fed would show this fact and then it would threaten the monetary system. Remember we always create the principle when debt is issued, but where does the interest come from? Compound interest is a powerful concept.
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