European Tribune - Comments - Iraqi Oil - the $250bn gift to Saudi Arabia and Russia

Iraqi Oil - the $250bn gift to Saudi Arabia and Russia | 3 comments (3 topical, editorial, 0 hidden)

Re: Iraqi Oil - the $250bn gift to Saudi Arabia an (none / 1)

Excellent diary, but you forget to point out that the US is actually financing the Iraq war and occupation with the money they borrow from OPEC. In fact, it is private business that buys chinese goods, and OPEC governments mostly buy US government debt, not corporate bonds or equity.

The US finances its consumption by borrowing from large US private banks, and its war by borrowing from other goverments.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Tue Dec 20th, 2005 at 10:34:46 AM EST

In the short term this looks very clever (none / 0)

But every day, the long term prospects of the US just get worse and worse.

The Fates are kind.

by Gaianne on Tue Dec 27th, 2005 at 10:20:16 AM EST
[ Parent ]

Iraqi Oil - the $250bn gift to Saudi Arabia and Russia | 3 comments (3 topical, 0 editorial, 0 hidden)

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