9/21/07

Greenspan "Iraq War Was For Oil"

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"Whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction,’ American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the world economy." ~From The Age of Turbulence: Adventures in a New World by Greenspan
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He said nonsense? Don't you know the fact that he as US Federal Reserve Chairman led the US central bank for 18 years before retiring in January 2006 and was deeply involved in the discussions before the war. According to his interview with Washington Post, he attended several private meetings with Bush and Cheney where he made the point that Saddam Hussein’s removal was essential for the US and global economy.

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We are in a period when it is far more difficult than it was when I was chairman. We were not worried about inflationary resurgence but now you have to be. You have got to be a lot more careful in lowering rates in response to crises.” ~ Greenspan
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