Tag Archives: Kuwait

Bush League Criminals

(Excerpted from Chapter 14: Saddam’s Banker in Atlanta: Big Oil & Their Bankers…)

In 1984 Vice-President George Bush pressured Export-Import Bank (EIB) President William Draper into providing Saddam’s government with $1 billion in US taxpayer-backed loans for a pipeline project in Iraq. Continue reading

Feed The Puppet Wheaties

(Excerpted from Chapter 13: USS Persian Gulf: Big Oil & Their Bankers…)

In 1991 Dennis Bernstein of Pacifica News Service obtained a US military planning document mistakenly declassified by the Defense Department. Continue reading

Occupying Ghawar

(Excerpted from Chapter 13: USS Persian Gulf: Big Oil & Their Bankers…)

Aside from the economic benefits which US multinationals derived from the brief US war against Iraq and the curtailment of Saudi and Kuwaiti economic power which the Gulf War wrought, there were other important repercussions from the destabilization of the Persian Gulf region. Continue reading

War Balances Books

(Excerpted from Chapter 12: The Gulf Oil War: Big Oil & Their Bankers…)

The record profits accrued by US corporations as a result of the Gulf War also served to offset the imbalance in US/GCC trade created by GCC oil revenue. Continue reading

Stealing The Oil & Making It Worthless

(Excerpted from Chapter 12: The Gulf Oil War: Big Oil & Their Bankers…)

While Saddam was preoccupied with the Iranians, the Kuwaiti government busied itself slowly moving its long-disputed border with Iraq northward into the area containing the massive Rumaila oilfield, which the Four Horsemen now knew to be one of the richest in the world. Continue reading

The Royal Paymaster

000011(Excerpted from Chapter 5: Persian Gulf Rent-A-Sheik: Big Oil & Their Bankers…)

Kuwait’s investments abroad have not been without scandal.  They owned two California hotels with S&L crook Charles Keating. [191]  Kuwait is part-owner of the HSBC-controlled Midland Bank, a major player in the Silver Triangle drug money shuffle and clearing agent for the government of Panama, whose board is loaded with ex-Pentagon officials.  In 1981, the same year that the GCC was created, KOC bought Sante Fe International, a US firm with close ties to the CIA.  The company had developed a horizontal drilling technology which the Kuwaitis employed in stealing Iraqi oil. Continue reading

Floating the Fed’s House of Cards

Chao Phraya River at Ayutthaya, Thailand

Chao Phraya River at Ayutthaya, Thailand

(Excerpted from Chapter 5: Persian Gulf Rent-A-Sheik: Big Oil & Their Bankers…)

The elite families of the six GCC nations are heavily invested in Western economies.  High volume crude oil production keeps this investment capital flowing to Wall Street while allowing the GCC elites to live opulent lifestyles. Continue reading