New World Order=Old World Colonialism-Same Old Song
"Creative destruction is our middle name, both within our own society and abroad. We tear down the old order every day, from business to science, literature, art, architecture, and cinema to politics and the law. Our enemies have always hated this whirlwind of energy and creativity, which menaces their traditions (whatever they may be) and shames them for their inability to keep pace. Seeing America undo traditional societies, they fear us, for they do not wish to be undone. They cannot feel secure so long as we are there, for our very existence—our existence, not our politics—threatens their legitimacy. They must attack us in order to survive, just as we must destroy them to advance our historic mission."
-Michael Ledeen (American Enterprise Institute)
In early April, during the initial assault on Baghdad, soldiers set up forward bases named Camp Shell and Camp Exxon until Pentagon PR realized that didn't look very good and ordered them renamed. Those soldiers knew the score. Several months and dozens of lives later, Bechtel, Halliburton, and a host of oil companies are ensuring that the fledgling "free market" in Iraq will be particularly free for US corporations.
The ultimate prize in Iraq, of course, is oil, and the Bush/Cheney gang has uncoiled a vastly underreported legal and financial cord that plugs U.S corporate control into these resources at least through the year 2007. The basic wiring has two prongs and is already complete. The first part, created by the UN under US pressure is the Development Fund for Iraq which is to be controlled by the US and advised by the World Bank and the International Monetary Fund (IMF). Unsurprisingly, this is looking more and more like a slush fund for corporate welfare. The second is a recent Bush executive order that provides absolute legal protection for U.S. interests in Iraqi oil. And a third and final prong is being crafted to ground the whole system and get as much profit as possible out of it.
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New debt will accrue through the very program that Ambassador Negroponte said would "benefit the people of Iraq." The Development Fund, derived from actual and expected Iraqi oil and gas sales, apparently will be used to leverage U.S. government-backed loans, credit, and direct financing for U.S. corporate forays into Iraq. Some of the funds will finance reconstruction projects approved by viceroy Bremer. But other funds will also be used as collateral for projects approved by the U.S. Export-Import Bank (ExIm), whose mission is not development or poverty alleviation, but rather the creation of US jobs and the promotion of American business abroad.
On June 19, the U.S. ExIm announced that it was open for business in Iraq and would begin considering applications by subcontractors (that is, companies hired by Bechtel and Halliburton) in Iraq for working capital guarantees. Corporations have found it impossible to obtain private bank credit for work in Iraq, due to the ongoing insecure environment. But ExIm has stepped in to take a lead role in facilitating U.S. business in Iraq.
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The third and final prong needed to plug Iraq fully into the global economy is perhaps the most ironic of all. While ensuring that the Development Fund will be used to deepen Iraq's debt to the US, the Bush administration is demanding that the Gulf States, Russia, France, and the international financial institutions forgive Iraq's existing $60 billion-plus debt. If it's done, we will surely hear the pundits praising the lifting of this burden from the backs of innocent Iraqis.
http://www.counterpunch.org/kretzmann07222003.html