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Financing Jihad via Petrodollars – by Farooq Sulehria


According to several estimates, Islamic organisations, many of which are linked to armed groups, can draw from a pool of money ranging from $5 billion to $16 billion, the Saudi government alone donates $10 billion via the ministry of Religious Works every year,
Italian journalist Loretta Napoleoni claims in her book”Modern Jihad”.

The liberal distribution of petro-dollars by Saudis can be gauged from the fact that more than 1500 mosques were built around the world in the second half of the last century. Sounds exaggerated? Not really if we look at the mushroom growth of Saudi-funded madrassas, mosques and charities in Pakistan.

LeT for instance, a major beneficiary of Saudi largesse, through its front-organisation Jamaat- ud- Dawa (JuD) ”runs a huge network of social services, including 20 Islamic institutions, 140 secondary schools, eight madrassas and a $300,000- plus medical mission that includes mobile clinics, ambulance service and blood banks”.

The LeT/JuD headquarters close to Lahore, built at the cost of Rs.50 million, houses ” a garment factory, an iron-foundry, a wood-works factory, a swimming pool and three residential colonies”. Who foot the bill? The LeT chief, Hafiz Saeed says” the funds came from a group of affluent traders”, a ”Saudi trader, Ahmed, contributed Rs. 10 million” while ”another Saudi Sheikh, donated more millions for the construction of Dawa Model school” at LeT headquarters.

A recently published book reveals: ” Some insiders believe that the Jamaat has raised so much money, mostly from sympathetic Wahabis in Saudi Arabia that it now plans to open its own bank”.

Saudi rulers and citizens are not alone in lavishing money abroad on sustaining Islamist groups. Iran’s support for Hezbollah has been documented in detail. Kuwait only in 1990 contributed $ 60 million to Hamas kitty, at a time when Hamas was being pampered to counter PLO. Hamas, in a way is novel organisation. It has benefited from Saudi largesse as well as their rival Iranian regime.’

The petro-dollars also translate into jobs for millions of workers from across the Muslim world. Take, for instance, the case of Pakistan.”The fact that Pakistan had lost its captive market in East Bengal compelled the new regime to look elsewhere: the oil-rich Gulf kingdoms proved the obvious choice for the shell-shocked confessional state. Accordingly, from 1970-75 Pakistan’s economy underwent a major shift of emphasis,” Tariq Ali points out. ” The share of nine major Muslim trade partners, namely Iran, Iraq, Abu Dhabi, Dubai, Kuwait, Oman, Saudi Arabia, Libya and Indonesia, in Pakistan ‘s total exports increased from 6.6 percent in 1969-70 to 24.8 percent in 1973-74. ” The Gulf remittance remain an important source of income for cash-strapped Pakistan. Through this process, as Dilip Hiro points out, millions of men ”had during their short-term contractual employment in Saudi Arabia, been exposed to conservative Islamic views as on

-women’s role ( ”They should stay home and serve men”)

-limits of artistic expression (”Art must keep away from religion”)

-relations between Muslims and Christians (”to be treated as second-class citizens”) and

-West’s impact on Islamic civilisation (” Political and social innovations coming from West are incompatible with Islamic values”) .

Though these jobs offer a temporary relief for regimes threatened by fast growing populations but this relief has strings attached. The countries exporting work force to Gulf have to open their gates to Salafi ideas that arrive disguised as mosque, madrassa, blood banks and charities as well as investment companies and banks. Saudi- funded mosques-madrassa-charity networks help produce and sustain a devout class that wants interest-free ”Islamic banking”.

As a matter of fact, in certain countries like Malaysia, Sudan and Egypt, ”Islamic banking” emanating from Gulf has greatly contributed to fundamentalism’s rise. The Faisal Islamic Bank of Egypt, founded in 1977, is a typical case. Its managing director was a Saudi prince, Muhammad al-Faisal, a son of King Faisal. Though Faisal’s name was sufficient to inspire trust in devout investors and depositors yet favourable-fatwas by the Egyptian religious establishment and Islamist groups greatly benefited the bank.

French scholar Giles Kepel says: ”In Egypt, these institutions were at first encouraged by those in power who saw in them an opportunity to win backing of devout middle class. They reasoned that if that class placed its money in Islamic banks and made substantial profits, it would be unlikely to join the radical opposition led by Islamists”.
However, ”in 1988 the Egyptian state called a halt to this process, fearing that it would allow the Islamist movement to build up a war chest and hand the Brothers financial independence”.

The impact of petro-dollars on Egyptian society is best explained by the proliferation of Islamic investment houses Loans are conditional on strict adherence to Islamic laws and traditions. One of these organisations, al-Rayan, paid female students 15 Egyptian pounds a month pocket money to take the veil.
In neighbouring Sudan, it was in the fall of 1977 that Faisal Islamic Bank opened a branch. By mid 80’s, the Faisal Bank was the country’s second richest concern in terms of money it held in deposits. The bank was run by Islamists some of whom had lived in Saudi Arabia in early 1970 ‘s as exiles. One of bank’s director was to later become an important figure in Turabi’s regime.

In 1980-85 , Islamic investment throughout the Muslim world underwent a spectacular expansion, leading to creation of hundreds or so Islamic investment companies offering annual returns of around 25 percent. One such development was seen in Malaysia when Anwar Ibrahim, a founding father of Malaysian Islamism, became minister of finance. He created Bank Islam in 1983. The then prime minister Mahatir Muhammad inaugurated the Islamic banking system by opening the bank’s first account. The banking system even provided jobs for graduates in religious studies: they were given places on the Sharia boards which made sure that transactions and investments were untainted by charging interest.

Loretta Napoleoni points out two other banks: ”al- Barakaat is a Somali-based international financial conglomerate with branches in 40 countries, including the U.S. Every year, until September 2001 when its funds were frozen by the U.S. Authorities , the US office wired at least $ 500 million in international profits to the central exchange office located in United Arab Emirates. Of these revenues, bin Laden’s network received a flat 5 percent, equivalent to about $25 million.

Al-Taqwa is a bank with strong ties with Islamist groups. It was set up in Nassau in 1987 with $50 million as capital, of which two-thirds came from Islamist fundamentalist organisations, one of the most important share holder was the Muslim brotherhood al-Islah of Kuwait. Among other activities, it has financed the political campaigns of Islamist candidates in the municipal elections in Egypt. The bank operatives in more than 30 countries”.

The deep nexus between banks and Islamism is best epitomised by, now defunct, BCCI, or Bank of Credit and Commerce International. Though BCCI did not claim to be Islamic yet it was fathered by petro-dollars and it served the joint US-Saudi Jihad venture in Afghanistan. The BCCI founder, Agha Hassan Abidi, was a Pakistani. The BCCI was a financial al-Qaida with the only difference that demobilising al-Qaida did not prove as simple as shutting BCCI down. Nevertheless, both al-Qaida and BCCI were US-approved, Saudi-sponsored projects to fight infidel Soviets in Afghanistan. The BCCI was owned by Arab capital: 20% was controlled by Khalid bin Mahfouz while another leading shareholder was Kamal Adham. Once head of the Saudi intelligence, Adham’s business partner was Raymond Close, former CIA station chief in Saudi Arabia. It was through ” highly liquid” BCCI channels, the Kingdom of Saudi Arab was able to fund Contras in Nicaragua and Unita in Angola. At times, even Noreiga in Panama became a fan of Pakistan’s banking legend and made use of our strikingly notable bank. Many US institutions including National Security Council and CIA utilised the BCCI accounts. The infamous $17 million no-more-secret arms sale to Iran by Uncle Sam, through Israel, would not have been possible without BCCI branch at Monte Carlo. Besides this excellent track record, the fact that BCCI had an overwhelming Pakistani management and was driven by Gulf dollars, the then CIA boss William Casey thought BCCI had the perfect pedigree for Afghan ‘Jihad’. After all, laundering drug money and purchase as well as shipment of illegal arms was pivotal in sustaining Afghan ‘Jihad’.

To dispel any doubts, former CIA director Richard Kerr admitted that the CIA had secret BCCI accounts in Pakistan in order to distribute funds to khakis and Afghan ‘Mujahideen’ .

About the author

Ali Arqam

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  • Those who are thinking that they can be able to bring religious based government in Pakistan are living in foolish paradise .
    Pakistan cannot become Saudi Arabia ,Abdul Wahab was successful with the help of British and that time the population of Saudi Arabia in thousands .Mulla Umer rule also in few cities after 20 years of war and on the population he ruled was less the Karachi .
    Implementing SAudi Forcing Salah (prayers ) law which is actually a Bidda (innovation ) can never be implemented in the country of Millions like Pakistan .

  • The deep nexus between banks and Islamism is best epitomised by, now defunct, BCCI, or Bank of Credit and Commerce International. Though BCCI did not claim to be Islamic yet it was fathered by petro-dollars and it served the joint US-Saudi Jihad venture in Afghanistan. The BCCI founder, Agha Hassan Abidi, was a Pakistani. The BCCI was a financial al-Qaida with the only difference that demobilising al-Qaida did not prove as simple as shutting BCCI down. [Farooq Sulehria]
    ==========================

    Introduction of BCCI and Agha Hasan Abedi.

    The Safari Club- An Alternate Super Intelligence Agency. In September 1 1976, a group of countries got together and established a newly formed secret cabal of intelligence agencies called the Safari Club. It included France, Egypt, Saudi Arabia, Morocco, and Iran. The club was a brain child of Alexandre de Marenches, head of the French external intelligence service SDECE. It was likely formed with the connivance of CIA to compensate for it’s paralysis after Watergate – as a means of circumventing US Congress which had tied down the CIA! Acutely conscious of the Soviet threat these countries had decided that if the US could not do anything to counter it, they would!

    Millions were spent to create an operational capability. But much more was required to be done to create its financial arm. The group needed a network of banks to help manage and conceal the enormous transactions needed to finance its intelligence operations. Saudi Intelligence Minister Kamal Adham was given the task to create one. With the blessing of CIA director George Bush Sr, he would transformed the Bank of Credit and Commerce International (BCCI), a small Pakistani merchant bank, founded in 1972 by a Pakistani partner of Adham (Agha Hasan Abedi); into a world-wide money-laundering machine, buying additional banks around the world to create the biggest clandestine money transfer and whitening network in history.

    The Rise Of BCCI.Adham, and other intelligence heads worked with Abedi to contrive “a plan that seemed too good to be true. The bank (BCCI) would solicit the business of every major intelligence – and therefore terrorist, rebel, and underground – organization in the free world. The intelligence collected – and links forged in the process – would be shared with these ‘friends’ of BCCI.” CIA operative Raymond Close worked closely with Adham during the Congressional inquiry years to help identify and tap “into CIA’s hordes of misfits and malcontents to help man a 1,500-strong group of assassins and enforcers.” Soon, BCCI became the fastest growing bank in the world. Time magazine would later describe BCCI as not just a bank, but also “a global intelligence operation and a Mafia-like enforcement squad. Operating primarily out of the bank’s offices in Karachi, Pakistan; the 1,500-employee network has used sophisticated spy equipment and techniques, along with bribery, extortion, kidnapping and even, by some accounts, murder. It stops at almost nothing to further the bank’s aims the world over.”

    Saudi Prince Mohammed al-Faisal also set up Faisal Islamic Bank of Egypt (FIBE) as part of the banking empire. The “Blind Sheikh,” Sheikh Omar Abdul-Rahman was one of its founding members. Growth of Islamic banking would directly help the growth of the Islamist movements, and allow the Saudis to pressure poorer Islamic nations, like Egypt, to shift their policies to the right. FIBE worked closely with BCCI. Investigators would later find that BCCI held $589 million in “unrecorded deposits,” $245 million of which were placed with FIBE! BCCI at a later stage was also ‘discovered’ to be deeply implicated in illegal arms and narcotics trade .But all this was to happen way in the future, when CIA wanted to get back into the driving seat!

    The Activities Of Safari Club. Thus was the Safari Club established .It funded – off the books – covert operations for a ‘ghost’ CIA made up of fired agents close to ex-CIA Director George Bush Sr. and Theodore Shackley. Shackley would remain at the center of this “private, shadow spy organization within the CIA” until he was fired in 1979; when the Safari Club was exposed due to the Iranian revolution-Iran being one of the members ! It must be noted here that this “Super Spy Club” inevitably gave a front seat to Saudi, Arab and Iranian ‘Islamist’ interests. The club seems to have remained active till about 1982 when de Marenches stepped down from being head of French intelligence .By this time the issue of the witch hunt of CIA within the USA also seems to have been resolved, and the CIA was keen to get back into the driving seat. Yet as we shall see next ;the then junior officers –as they rose in rank- would continue to retain their Islamic imprint ,as they shaped Americas -and the CIA’s- future policies.

    During the initial period the Safari Club played a secret role in political dramas of many countries mostly Islamic and in Africa or the Middle East. Its first operation: A rebellion in Zaire was put down by Moroccan and Egyptian troops, using French air support.It then turned to deal with the Soviet infiltrations in Ethopia, Somalia and Djibouti and Peoples republic of Yemen. It also acted to repel Libyan aggression against Chad and Sudan. It also played a role in the US-Egyptian-Israeli peace treaty of 1979. Through out 1970-80 huge amounts of Saudi money backed by Safari Club covert activity helped countries like Syria,Jordan,North Yemen, Angola, Sudan, Somalia, Djibouti, Uganda, Mali, Nigeria, Ziare, Guinea, Pakistan, Bangladesh, South Korea, Malaysia, Taiwan, Philippines –and some reports suggest even South Vietnam; survive Russian backed Libyan or leftist in roads. In most countries Saudi ‘Wahabi Jehadi’ proselytizing inevitably accompanied the cash.

    The Safari Club and the ‘rogue CIA’ also played a major role in supporting Pakistani ISI backed Afghani militants.Pakistani operation was remarkably successful and by 1977 the Afghan government of Sardar Daud was willing to settle all outstanding issues in exchange for a lifting of the ban on the National Awami Party and a commitment towards provincial autonomy for Pashtuns.This was also the period in which Moro operations in the Philippines achieved their most outstanding success.

    Planning For A Russian Vietnam: 1977-1982. During the period 1977 to 1982 a major re-orientation of US policy is apparent specially in the mid-east and SE Asia.To what extant the Safari Club influenced the shape of things must remain a field of conjecture;yet the circumstantial evidence is pretty clear that the Carter administration had “no clear policy” due to internal divisions and confusion – and also that Saudi(Muslim) influence was considerable through elements of the ‘rouge CIA’ which was beginning to emerge out of the shadows to merge into the main stream re-activated CIA.

    • Setting The Stage. In the year 1977-79 a number of remarkable events (mentioned below) took place affecting our region. An analysis of these helps us to understand how the original concept of a defensive and deterrent Islamic Jehad was shaped into one of Americas most potent intelligence assets – global Islamic (Wahabi) militancy or Islamic Terrorism:

    In The USA Zbigniew Brzezinski took over as President Carter’s National Security Adviser. He established the Nationalities Working Group (NWG) for weakening the Soviet Union through Islamic militancy .By December 1978; he formalized his theory around the idea of turning the Muslim world into ‘an arc of crises. It was based on the ideas of British expert Dr. Bernard Lewis, who advocated the balkanization of the entire Muslim near East along tribal and religious lines. The chaos would spread in what he also calls an “arc of crisis” and ultimately destabilize the Muslim regions of the Soviet Union.

    BCCI Even Buys The CIA’s Bank! The same year The Safari Club made a bid to buy CIA’s bank! A group fronted by Kamal Adham, bought First American Bank shares. It was the biggest bank in the Washington, D.C. – and since long the CIA’s principal banker. In 1981, the Federal Reserve after asking CIA for the mandatory clearance allows the sale! The CIA held back what it knew, including the fact that Adham was Saudi intelligence minister. But Adhami and his group were acting on behalf of BCCI.Thus by 1982 BCCI becomes (illegally) the owner of CIA’s bank. The CIA did not inform the Treasury Department about this link till as late as 1985.In fact CIA continued using both BCCI and First American. The Safari Club and its financial arm the BCCI were fully in place –even within USA by 1982!

    Brzezinski’s Islamic Militant Policy Implemented In Pakistan. In Pakistan on 5 July 1977 Pakistan’s socialist minded Prime Minister Z.A.Bhutto – an advocate of the policy of independence from US domination through a combination of ‘Islamic socialism’ and a pro-China foreign policy ; as well as the architect of Muslim unity(held first Islamic summit at Lahore) and Pakistan’s nuclear program – was eliminated in a coup by General Zia –ul-Haq .Zia had already proved his worth as an American ally in Jordan , where he massacred the PLA to save the Jordanian throne for the Americans.

    Apparently the US stopped all economic and military aid to Pakistan as a result of the coup .But in actual fact aid continued flowing in a big way for the militants and their Islamisation process through the Safari club and the rouge CIA; and planning was soon expedited to draw in and kill the Russian bear in Afghanistan.

    In Afghanistan Daud suspected of having gone ‘soft’ on Pakistan was removed through a pro-Soviet coup on April 1978.This served as the ideal start point for implementing Brzezinski’s policy. Aid to Pakistan was resumed .The CIA commenced beaming of radio propaganda into Afghanistan, and a program and started for turning the Afghan mujahideen into radical Wahabi Islamic fighters. Zia proved invaluable at this stage.

    He allowed a free hand to the CIA approved Wahabi Islamic doctrine to gain a firm foothold in Pakistan. Passing pro-Islamic legislation, he allowed FIB (Faisal Islamic bank) to start Islamic banking systems, and created Islamic courts. Most importantly, he imposed a new religious tax which was used to create tens of thousands of madrassas, or religious boarding schools, where “Islamic text books’ printed in USA and approved by CIA were taught. These schools would be used to train and indoctrinate a large portion of future Islamic militants using courses developed in the USA.

    “Radical Islamist ideology began to permeate the military and the influence of the most extreme groups crept into the army,” writes journalist Kathy Gannon in her book I is for Infidel. The BBC later commented that Zia’s “Islamization” policies created a “culture of jihad” within Pakistan that continues until present day. Mean ISI took over to continue the field work and launched a massive campaign of terrorism, assassinating hundreds of teachers and civil servants in Afghanistan.”

    For Iran, in November 1978 former Under Secretary of State George Ball was appointed as advisor to President Carter! This is most amazing for he was known to hold the view that the US should drop support for the Shah of Iran in favor of the radical Islamist opposition of Ayatollah Khomeini. Later during his exile The Shah would note with bitter hind sight,”It should have been clear to me that the Americans wanted me out. What else was I to make of the Administration’s sudden decision to call George Ball as advisor on Iran?”

    For Al-Qaeda around 1978-79(the details are fuzzy) Osama Bin Laden visited the US and Britain -or both -ostensibly for the treatment of his son Abdul Rahman born with hydrocephalus. However the required treatment-an operation – was never carried out. More likely he went there to get his final briefs first hand!

    1979-The Bear Trap Is Sprung. Ayatollah Khomeini returned from exile in France on January 16, 1979.By February Shah Mohammad Reza Pahlavi is deposed and Ayatollah Khomeini took over as Iran’s new leader. At first the US was taken aback by the new fundamentalist Islamic government, and Brzezinski contemplated a military coup to stop Khomeini.

    In March, there was a major revolt in Herat province. Russian Intelligence noted that it had support from outside-particularly Iran. This convinced Brzezinski that Khomeini was fiercely anti-communist, and he soon decided that Iran’s new government can become part of his “arc of crises. The US embassy remained open, and more US officials come to Iran to begin tentative talks. The CIA started working (re-working) with Iranian intelligence to destabilize the pro-Soviet government in Afghanistan.

    By April 1979, US officials start having their first meetings in Pakistan with opponents of the Afghan government. Robert Gates –a junior officer then , but later to become CIA Director – recalls that in one such meeting on March 30, 1979, Under Secretary of Defense Walter Slocumbe wondered aloud whether there is “value in keeping the Afghan insurgency going, ‘sucking the Soviets into a Vietnamese quagmire.’”

    In May a CIA special envoy also meets these Afghan mujaheddin leaders at Peshawar. All of them have been carefully selected by the Pakistani ISI. One of them is Gulbuddin Hekmatyar, a drug dealer, and brutal warlord. His extreme ruthlessness is considered a plus. Over the next 10 years over half of all US aid to the mujaheddin will go to his faction. In June /August there are further large scale army mutinies within Afghanistan.

    According to the official US version CIA aid to the Mujaheddin began after the Soviet army invaded Afghanistan. How ever President Carter had formally approved covert aid in July. And as Brzezinski’s confessed later on: “that very day, I wrote a note to the president in which I explained to him that in my opinion this aid was going to induce a Soviet military intervention”. Charles Cogan, who later headed the CIA covert aid program to Afghanistan, will call Carter’s approval on 6th July a “very modest beginning to US involvement.” In fact, this is not correct because the’ Safari Club’ along with the ‘rouge CIA’ had been aiding the rebels since well before 1978. Haizullah Amin over throws Daud in a military coup in October 1979, and invites the Soviets.

    In early November 1979, Brzezinski had secretly met with Iranian Prime Minister Mehdi Bazargan, as well as Iran’s foreign minister and defense minister, in Algiers. But shortly before the meeting, the US agrees to allow the Shah, dying with cancer, to come to the US for medical treatment. Khomeini is enraged, and on November 4, just three days after the Algeria meeting begins, students take over the US embassy in Teheran. Brzezinski’s (Safari Club’s?) attempts to create an alliance with Khomeni’s Iran collapse.

    On December 8 1979 The Soviets invaded Afghanistan; surprisingly on December 26 Russian troops turn against the invitee and kill him! Later declassified high-level Russian documents show that the Russian leadership believed Amin to have had secret contacts with the US embassy and was probably a US agent; and that because of this “the right wing Muslim opposition” has “practically established their control in many provinces… using foreign support.” They therefore installed a communist regime led by Babrak Karmal which was openly hostile to Pakistan. The Russians will later be proved correct when in a 1998 interview, Brzezinski, revealed that earlier in the year Carter authorized the CIA to destabilize the government, provoking the Russians to invade and later topple Amin’s government! It seems Russia had been invited into Afghanistan by a Khomeini cultivated US agent – even though Iran was no more a part of the team!

    Brzezinski wrote a memo to President Jimmy Carter after the Soviet invasion suggesting that success in Afghanistan could give the Soviets access to the Indian Ocean. He advised that US should continue aid to the Afghan Mujaheddin. He also added, “This means more money as well as arms shipments to the rebels and some technical advice.” He concludes the memo with, “[W]e must both reassure Pakistan and encourage it to help the rebels. This will require a review of our policy toward Pakistan, more guarantees to it, more arms aid, and alas, a decision that our security problem toward Pakistan cannot be dictated by our nonproliferation policy.” Carter accepted Brzezinski’s advice. Pakistan would be rewarded to become a nuclear power in exchange for help in implementing Brzezinski doctrine of Islamic Militancy!

    Over the next decade CIA and Saudi Arabia would channel a huge amount of money through ISI, (estimates range up to $40 billion total for the war) to support the Mujaheddin guerrilla fighters opposing the Russians, forcing the USSR into a decade-long war which it could ill afford. It was as Brzezinski insisted, a war that brought about “The demoralization and finally the collapse of the Soviet Empire”. In my next article I shall show how this covert operation involving ‘radical Islamist militants’ was developed and implemented by CIA. FOR REFERENCES: The Safari Club – An Alternate Super Intelligence Agency. http://chagataikhan.blogspot.com/2009/09/safari-club-alternate-super.html

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  • At the end of World War II, an agreement was reached at the Bretton Woods Conference which pegged the value of gold at $35 per ounce and that became the international standard against which currency was measured. But in 1971, Richard Nixon took the dollar off the gold standard and ever since the dollar has been the most important global monetary instrument, and only the United States can produce them.
    The fear of the consequences of a weaker US dollar, particularly higher oil prices is seen as underlying and explaining many aspects of the US foreign policy, including the Iraq and Libyan War. The reality is that the value of the US dollar is determined by the fact that oil is sold in US dollars. If the denomination changes to another currency, such as the euro, many countries would sell dollars and cause the banks to shift their reserves, as they would no longer need US dollars to buy oil. This would thus weaken the US dollar relative to the euro. A leading motive of the US in the Iraq war — perhaps the fundamental underlying motive, even more than the control of the oil itself — is an attempt to preserve the US dollar as the leading oil trading currency. Since it is the USA that prints the petro-dollars, they control the flow of oil. Period. When oil is denominated in US dollars through US state action and the dollar is the only fiat currency for trading in oil, an argument can be made that the U.S. essentially owns the world’s oil for free.
    First Iraq and then Libya decided to challenge the petrodollar system and stop selling all their oil for US dollars, shortly before each country was attacked.The cost of war is not nearly as big as it is made out to be. The cost of not going to war would be horrendous for the US unless there were another way of protecting the US dollar’s world trade dominance.
    Guess how USA pays for the wars? By printing US dollars it is going to war to protect.
    After considerable delay, Iran opened an oil bourse which does not accept US dollars. Many people fear that the move will give added reason for the USA to overthrow the Iranian regime as a means to close the bourse and revert Iran’s oil transaction currency to US dollars. In 2006 Venezuela indicated support of Iran’s decision to offer global oil trade in euro.
    6 months before the US moved into Iraq to take down Saddam Hussein, Iraq had made the move to accept Euros instead of US dollars for oil, and this became a threat to the global dominance of the US dollar as the reserve currency, and its dominion as the petrodollar.
    Muammar Qaddafi made a similarly bold move: he initiated a movement to refuse the US dollar and the euro, and called on Arab and African nations to use a new currency instead, the gold dinar. Muammar Qaddafi suggested establishing a united African continent, with its 200 million people using this single currency. The initiative was viewed negatively by the USA and the European Union, with French president Nicolas Sarkozy calling Libya a threat to the financial security of mankind; but Muammar Qaddafi continued his push for the creation of a united Africa.
    Muammar Gaddafi’s recent proposal to introduce a gold dinar for Africa revives the notion of an Islamic gold dinar floated in 2003 by Malaysian Prime Minister Mahathir Mohamad, as well as by some Islamist movements. The notion, which contravenes IMF rules and is designed to bypass them, has had trouble getting started. But today Iran, China, Russia, and India are stocking more and more gold rather than US dollars.
    If Muammar Qaddafi were to succeed in creating an African Union backed by Libya’s currency and gold reserves, France, still the predominant economic power in most of its former Central African colonies, would be the chief loser. The plans to spark the Benghazi rebellion were initiated by French intelligence services in November 2010.
    – Nalliah Thayabharan

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  • Abraham Lincoln worked valiantly to prevent the Rothschild’s attempts to involve themselves in financing the Civil War. Interestingly, it was the Czar of Russia who provided the needed assistance against the British and French, who were among the driving forces behind the secession of the South and her subsequent financing. Russia intervened by providing naval forces for the Union blockade of the South in European waters, and by letting both countries know that if they attempted to join the Confederacy with military forces, they would also have to go to war with Russia.

    The Rothschild interests did succeed, through their agent Treasury Secretary Salmon P. Chase, to force a bill (the National Banking Act) through Congress creating a federally chartered central bank that had the power to issue U.S. Bank Notes. Afterward, Lincoln warned the American people:
    “The money power preys upon the nation in time of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. I see in the near future a crisis approaching that unnerves me, and causes me to tremble for the safety of our country. Corporations have been enthroned, an era of corruption will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people, until the wealth is aggregated in a few hands, and the republic is destroyed. ”
    Lincoln continued to fight against the central bank, and some now believe that it was his anticipated success in influencing Congress to limit the life of the Bank of the United States to just the war years that was the motivating factor behind his assassination.

    Modern researchers have uncovered evidence of a massive conspiracy that links the following parties to the Bank of Rothschild. Lincoln’s Secretary of War Edwin Stanton, John Wilkes Booth, his eight co-conspirators, and over seventy government officials and businessmen involved in the conspiracy. When Booth’s diary was recovered by Stanton’s troops, it was delivered to Stanton. When it was later produced during the investigation, eighteen pages had been ripped out. These pages, containing the aforementioned names,were later found in the attic of one of Stanton’s descendants.
    From Booth’s trunk, a coded message was found that linked him directly to Judah P. Benjamin, the Civil War campaign manager in the South for the House of Rothschild. When the war ended, the key to the code was found in Benjamin’s possession. The assassin, portrayed as a crazed lone gunman with a few radical friends, escaped by way of the only bridge in Washington not guarded by Stanton’s troops.
    “Booth” was located hiding in a barn near Port Royal, Virginia, three days after escaping from Washington. He was shot by a soldier named Boston Corbett, who fired without orders. Whether or not the man killed was Booth is still a matter of contention, but the fact remains that whoever it was, he had no chance to identify himself. It was Secretary of War Edwin Stanton who made the final identification. Some now believe that a dupe was used and that the real John Wilkes Booth escaped with Stanton’s assistance.

    Mary Todd Lincoln, upon hearing of her husband’s death, began screaming, “Oh, that dreadful house!” Earlier historians felt that this spontaneous utterance referred to the White House. Some now believe it may have been directed to Thomas W. House, a gun runner, financier, and agent of the Rothschild’s during the Civil War, who was linked to the anti-Lincoln, pro-banker interests.

    Another myth that all Americans live with is the charade known as the “Federal Reserve.” It comes as a shock to many to discover that it is not an agency of the United States Government.

    The name “Federal Reserve Bank” was designed to deceive, and it still does. It is not federal, nor is it owned by the government. It is privately owned. It pays its own postage like any other corporation. Its employees are not in civil service. Its physical property is held under private deeds, and is subject to local taxation. Government property, as you know, is not.

    It is an engine that has created private wealth that is unimaginable, even to the most financially sophisticated. It has enabled an imperial elite to manipulate our economy for its own agenda and enlisted the government itself as its enforcer. It controls the times, dictates business, affects homes and practically everything.

    It takes powerful force to maintain an empire, and this one is no different. The concerns of the leadership of the “Federal Reserve” and its secretive international benefactors appear to go well beyond currency and interest rates.

    Andrew Jackson was the first President from west of the Appalachians. He was unique for the times in being elected by the voters, without the direct support of a recognized political organization. He vetoed the renewal of the charter for the Bank of the United States on July 10, 1832.
    In 1835, President Andrew Jackson declared his disdain for the international bankers:
    “You are a den of vipers. I intend to rout you out, and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.”
    There followed an (unsuccessful) assassination attempt on President Jackson’s life. Jackson had told his vice president, Martin Van Buren, “The bank, Mr. Van Buren, is trying to kill me….”
    Was this the beginning of a pattern of intrigue that would plague the White House itself over the coming decades? Was his (and Lincoln’s) death related by an invisible thread to the international bankers?

    President James Abram Garfield, our 20th President, had previously been Chairman of the House Committee on Appropriations and was an expert on fiscal matters. President Garfield openly declared that whoever controls the supply of currency would control the business and activities of all the people. After only four months in office, President Garfield was shot at a railroad station on July 2, 1881.

    President John F. Kennedy planned to exterminate the Federal Reserve System. In 1963 he signed Executive Orders EO-11 and EO-110, returning to the government the responsibility to print money, taking that privilege away from the Federal Reserve System.

    Shortly thereafter, President John F. Kennedy was assassinated. The professional, triangulated fire that executed the President of the United States is not the most shocking issue. The high- level coordination that organized the widespread coverup is manifest evidence of the incredible power of a “hidden government” behind the scenes.

    In the 70′s and 80′s, U.S. congressman Lawrence McDonald from Georgia, spearheaded efforts to expose the hidden holdings and intentions of the international money interests. His efforts ended on August 31, 1983, when he was killed when Korean Airlines 007 was “accidentally” shot down in Soviet airspace. A strange coincidence, it would seem. Senator Jesse Helms of North Carolina, Senator Steven Symms of Idaho, and Representative Carroll J. Hubbard, Jr. of Kentucky were aboard sister flight KAL 015, which flew 15 minutes behind KAL 007; they were headed, along with McDonald on KAL 007, to Seoul, South Korea, in order to attend the ceremonies for the thirtieth anniversary of the U.S.-South Korea Mutual Defense Treaty. The Soviets contended former U.S. president Richard Nixon was to have been seated next to Larry McDonald on KAL 007 but that the CIA warned him not to go, according to the New York Post and TASS.

    Senator Henry John Heinz III and former Senator John Goodwin Tower had served on powerful Senate banking and finance committees and were outspoken critics of the Federal Reserve and the Eastern Establishment.

    On April 4, 1991, 52-year-old Henry John Heinz III, Republican Senator from Pennsylvania, crashed in a Piper PA60 Aerostar when it collided with a Bell 412 helicopter near Philadelphia. Burning wreckage fell on the grounds of an elementary school in nearby Lower Merion Township; two of the dead were children playing outside at noon recess.

    On the next day, April 5, 1991, former was also killed when twin-engine turbo-prop Atlantic Southeast Airlines plane flying from Atlanta went down in a thickly wooded area within view of motorists on Interstate 95. The coincidences seem to mount.

    A commuter plane – Flight Atlantic Southeast 2311- twin-engine turbo-prop Atlantic Southeast Airlines plane flying from Atlanta carrying 23 people, including former 65-year old Republican Senator John Tower of Texas, crashed and burned in a thickly wooded area within view of motorists on Interstate 95 – a mile and a half short of the airport killing everyone on board.

    Attempts to just audit the Federal Reserve continue to meet with failure. It is virtually impossible to muster support for any issue that has the benefit of a media blackout. The bizarre but tragic reality that the American people suffer from a managed and controlled media is a subject for another discussion.

    For many years, numerous authors have attempted to sound the alarm that there exists a hidden “shadow government” that actually rules America. Most of us have dismissed these “conspiracy theory” views as extremist and unrealistic. The ignorance in America is overwhelming. Indeed, the contrast in general awareness of world affairs between the average American and the average European is striking. The concentration of power in America is frightening.

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