Date: Wed, 19 Mar 2003 21:20:19 +0100
Subject: Re: Excellent Article by Paul Krugman of the NYTimes


Anthony wrote:

>Geez John THINK for one second. If the US had that motive, then which
>country would be the most natural target? Which country did a full 15 of the
>pilots who flew into the World Trade Center come from? Saudi Arabia. Which
>country holds BY FAR the world's largest oil reserves? Saudi Arabia (25%).

but the US have already 'conquered' Saudi Arabia in 1945:

   "The price of oil has been regulated to U.S. preferences most of the
   time since 1945, via the efforts of the government of Saudi Arabia.
   And the U.S. has a fairly good hold on the strategic control of world
   oil supply." [Wallerstein: http://fbc.binghamton.edu/107en.htm ]

   "The reality is that the strength of the dollar since 1945 rests on being
   the international reserve currency for global oil transactions (i.e.,
"petro-
   dollar"). The U.S. prints hundreds of billions of these fiat petro-dollars,
   which are then used by nation states to purchase oil and energy from
   OPEC producers (except presently Iraq and, to some degree,Venezuela).
   These petro-dollars are then re-cycled from OPEC back into the U.S. via
   Treasury Bills or other dollar-denominated assets such as U.S. stocks,
   real estate, etc. The recycling of petro-dollars is the price the U.S. has
   extracted since 1973 from oil-producing countries for U.S. tolerance of the
  oil-exporting cartel." [Harris: http://yellowtimes.org/article.php?sid=1083 ]




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