Sunday, September 16, 2007

Iraq War about Oil says former Fed Reserve chairman Alan Greenspan

Alan Greenspan served as Federal Reserve chairman from the Reagan administration until last year. Since his words could have a direct effect on the economy, he chose them carefully when he was in office.

Now that his memoir is coming out, he is saying what the rest of the world already knows and discusses openly, but the American mainstream media, Republicans, and even the vast majority of elected Democrats ignore like a spider: The Iraq War is about oil.

Until this becomes central to the public debate, everything said is about as meaningful and relevant as discussing what the tooth fairy's farts smell like.


September 16, 2007
Alan Greenspan claims Iraq war was really for oil
Graham Paterson

AMERICA’s elder statesman of finance, Alan Greenspan, has shaken the White House by declaring that the prime motive for the war in Iraq was oil.

In his long-awaited memoir, to be published tomorrow, Greenspan, a Republican whose 18-year tenure as head of the US Federal Reserve was widely admired, will also deliver a stinging critique of President George W Bush’s economic policies.

However, it is his view on the motive for the 2003 Iraq invasion that is likely to provoke the most controversy. “I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil,” he says.

Greenspan, 81, is understood to believe that Saddam Hussein posed a threat to the security of oil supplies in the Middle East.


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