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Tuesday, September 25, 2007

Alan Greenspan vs. Naomi Klein on the Iraq War, Bush's Tax Cuts, Economic Populism, Crony Capitalism and More

NAOMI KLEIN: ..., Mr. Greenspan. Are you aware that, according to the Hague Regulations and the Geneva Conventions, it is illegal for one country to invade another over its natural resources?
ALAN GREENSPAN:...But what I was saying is that my reason for being pleased to see Saddam out of office had nothing to do with the weapons of mass destruction. It had to do with the potential threat that he could create to the rest of the world.
NAOMI KLEIN: Yes, I realize that, but he was not simply deposed. The US invaded Iraq, occupied it and took control over its resources. And under international law, that it is illegal to wage wars to gain access to other countries’, sovereign countries’, natural resources.
ALAN GREENSPAN: Yes. No,.. (after fudging and justifying the action as 'premptive he sadded this -t) And as you point out, yes, I am a believer in the rule of law, and I think it is a critical issue, not only for domestic economies, but for the world economy as a whole.

AMY GOODMAN: ... “Between April 2003 and June 2004, [$12 billion] in US currency -- much of it belonging to the Iraqi people -- was shipped from the Federal Reserve to Baghdad, where it was dispensed by the Coalition Provisional Authority. Some of the cash went to pay for projects and keep ministries afloat, but, incredibly, at least $9 billion has gone missing, unaccounted for, in a frenzy of mismanagement and greed.”

Alan Greenspan, when you were head of the Federal Reserve, how much knowledge do you have of this? Did you investigate this? And did you investigate this? Were you aware of this at the time?

ALAN GREENSPAN:...There was, as far as I can judge, a huge drain of the resources into areas which nobody to this day can understand or follow...

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