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The Rip-Off of Iraq's Oil Wealth

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  • 25-11-2005 5:28pm
    #1
    RedPlanet
    Closed Accounts Posts: 1,691 ✭✭✭


    Lengthy article here detailing how the US and UK conspire to steal Iraq's oil wealth.
    http://www.globalpolicy.org/security/oil/2005/crudedesigns.htm

    As we all know the war in Iraq was not about WMD nor "bringing democracy" not even about human rights and evil dictators, it all comes down to oil and america's desires for it.
    This article really brings that out into the open.
    I'm almost speechless at the loss of life and suffering they've brought onto the Iraqi people because of their greed.


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    #2
    michaelmcmahon
    Closed Accounts Posts: 31 ✭michaelmcmahon


    RedPlanet wrote:
    Lengthy article here detailing how the US and UK conspire to steal Iraq's oil wealth.
    http://www.globalpolicy.org/security/oil/2005/crudedesigns.htm

    As we all know the war in Iraq was not about WMD nor "bringing democracy" not even about human rights and evil dictators, it all comes down to oil and america's desires for it.
    This article really brings that out into the open.
    I'm almost speechless at the loss of life and suffering they've brought onto the Iraqi people because of their greed.
    This is bullsh!t. Iraq is a sovereign nation. Their new constitution gives them complete control over their oil. If they disagree with any decsion made by the CPA, they can overturn it. Sorry!


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    #3
    A Dub in Glasgo
    Registered Users Posts: 17,201 ✭✭✭✭A Dub in Glasgo


    michaelmcmahon wrote:
    This is bullsh!t. Iraq is a sovereign nation. !

    ROFLAO


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    #4
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    RedPlanet wrote:
    As we all know the war in Iraq was not about WMD nor "bringing democracy" not even about human rights and evil dictators, it all comes down to oil and america's desires for it.

    Its worse than that.
    It all comes down to profits and bonuses and multinational oil companies' top executives desire for it.


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    #5
    Hobbes
    Registered Users Posts: 21,264 ✭✭✭✭Hobbes


    michaelmcmahon wrote:
    This is bullsh!t. Iraq is a sovereign nation. Their new constitution gives them complete control over their oil. If they disagree with any decsion made by the CPA, they can overturn it. Sorry!

    Actually the new constitution doesn't, or rather didn't (I haven't read the revised version fully yet).

    Baghdad Year Zero is a good read (if a bit long). Its a lot worse then just the oil.
    http://www.harpers.org/BaghdadYearZero.html

    Its a bit dated though. For example I know article 26 has changed somewhat, although the orders haven't (that I have seen).

    As I said I haven't fully read up the latest constitution however the first constitution allowed forigen businesses to own 100% iraqi assets and remove up to 100% profits from the country without being taxed (no other country in the world allows this). It also disallowed any later governments recinding certain laws.


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    #6
    wiseones2cents
    Closed Accounts Posts: 233 ✭✭wiseones2cents


    There is no doubt this war is a big heist by America and its supporters.

    The sadest thing of all? The Christian Americans support it and believe they are doing GOD's work. What a mis-guided lot........

    They are waiting for Jesus to come and give them a pat on the back for slaughtering people.


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    #7
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    wiseones2cents wrote:
    The sadest thing of all? The Christian Americans support it and believe they are doing GOD's work. What a mis-guided lot........
    Its worse than that.
    I know Irish christians who support it and believe they are doing God's work. Rational, thinking people even, not catholics. :eek:


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    #8
    michaelanthony
    Closed Accounts Posts: 741 ✭✭✭michaelanthony


    Iraq switched their oil transactions to Euro shortly before the war. Some other large scale oil exporting countries started doing the same. Previously, transactions were made with US dollars. This change could easily bankrupt America as they buy the oil with promissary notes. If all of these countries started to cash them, America would not have the funds to pay for them. Hence the war. Now Iraq oil transactions are done in US dollars again.


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    #9
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    michaelanthony wrote:
    Iraq switched their oil transactions to Euro shortly before the war. Some other large scale oil exporting countries started doing the same. Previously, transactions were made with US dollars. This change could easily bankrupt America as they buy the oil with promissary notes. If all of these countries started to cash them, America would not have the funds to pay for them. Hence the war. Now Iraq oil transactions are done in US dollars again.
    I have only the vaguest understanding of how that works.
    Got a link that explains it in words of two syllabels or less ?


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    #10
    Cork
    Registered Users Posts: 3,924 ✭✭✭Cork


    Gurgle wrote:
    Its worse than that.
    It all comes down to profits and bonuses and multinational oil companies' top executives desire for it.

    This is not Unique to Iraq. Many resouce companies are quoted on stock exchanges around the globe. Oil is big business.

    The UN oil for food programme and Saddams lifestyle were nothing to write home about either.


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    #11
    bobbyjoe
    Closed Accounts Posts: 798 ✭✭✭bobbyjoe


    Gurgle wrote:
    I have only the vaguest understanding of how that works.
    Got a link that explains it in words of two syllabels or less ?

    Long but worth it.
    http://www.ratical.org/ratville/CAH/RRiraqWar.html

    Best explanation I can find.


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    #12
    wiseones2cents
    Closed Accounts Posts: 233 ✭✭wiseones2cents


    bobbyjoe wrote:
    Long but worth it.
    http://www.ratical.org/ratville/CAH/RRiraqWar.html

    Best explanation I can find.

    Fact of the Matter is not only the Oil companies but the big economic players are losing faith in the US dollar. Especially In Asia.

    The problem is that they have to figure out how to make the switch without devaluating all the American dollars they have in reserves. When they switch to Euro, the American dollar will take a nose dive and so will their reserves(Denominated in American dollars).

    I dont know exactly how it works but it goes something like this. many Asians countries have been buying America dollars, making the American dollar stronger and bringing theirs down, thus encouraging trade.

    And they were making good money.

    Although Now that the American economy started to slow down.(They were in a masked recession before 9/11). They realized that their dollars that they had bought in reserves denominated in American dollars were losing value.

    Therefore their economies started to slow down also and so did thier reserves in American dollars. America needed something to kickstart their economy again.

    So they went to war. It was mighty convenient 9/11 happened when it did......

    Now Asian countries are stuck with American dollars that are unstable and on the brink of taking a nose dive. If they start selling the Dollars, the American dollar takes a nose dive and they lose money. If they keep them and the economy goes south, they lose it ALL. We are talking a world wide recession in regards to any economy that depends on the American market or dollar.


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