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Iraq's oil-based debt plan wins support

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DuctapeFatwa Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-29-04 04:56 PM
Original message
Iraq's oil-based debt plan wins support
Iraq's Governing Council looks set to approve a US-backed plan to borrow $US1.4 billion ($NZ2.05 billion) from international banks to help rebuild the country's oil industry, politicians familiar with the plan said at the weekend.


Revenue from Iraqi oil sales will guarantee the loan, which could be Iraq's first post-war sovereign debt, issued by a US-led banking consortium as Iraq's political future and prospects for stability remain unclear.

http://www.stuff.co.nz/stuff/0,2106,2830069a13,00.html
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FloridaPat Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-29-04 06:40 PM
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1. OK, I should be screaming bloody murder about this because
I have a sneaky feeling we the tax payers are going to get screwed somewhere here and the republicans are going to get a lot of money. And you can bet the Iraqi people are going to get the short end of the stick too. No one else is going in there for business because the insurance companies won't go in because it's too dangerous. There is no real government, so any contract can be declared null and void when and if a real government comes in.

So, what's the punch line???
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Crachet2004 Donating Member (725 posts) Send PM | Profile | Ignore Sun Feb-29-04 09:17 PM
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2. Loan them money, so you can own their asses...
Edited on Sun Feb-29-04 09:18 PM by Crachet2004
would be my guess. The banks and oil companies are gonna trot out every wornout trick in the book to take control of the oil.

And yeah we will spend a ton of taxpayer money enabling it (already have), blood too-then some desert holy man will rise up and run us off.


Greed, nothing but greed.
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