Tag Archives: Geopolitics

A Special Relationship: The U.S. is teaming up with Al Qaeda, again

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“The Saudis, of course, had been an integral part of the anti-Soviet campaign from the beginning. According to one former CIA official closely involved in the Afghanistan operation, Saudi Arabia supplied 40 percent of the budget for the rebels.  Al Qaeda, employing a largely Saudi suicide squad, destroyed the World Trade Center. In a sane world, this disaster might have permanently ended Washington’s long-standing taste for mixing Islam with politics. But old habits die hard.”

http://harpers.org/archive/2016/01/a-special-relationship/?single=1

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Reckless Frenemy Saudi Arabia Makes World More Dangerous for America

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“Saudi Arabia and Iran continue to turn their national struggle into a religious conflict. The first is dangerous. The second could be catastrophic.  Yet Riyadh, America’s nominal ally, just demonstrated that it is the more reckless of the two states by executing Shia cleric Nimr al-Nimr.  There is much bad to say about Tehran’s authoritarian and interventionist Islamic regime. But even worse is Saudi Arabia, considered by Washington to be a valued ally.  The Kingdom of Saudi Arabia is essentially a totalitarian state. Purported ‘antiterrorism’ legislation allowed the ‘authorities to press terrorism charges against anyone who demands reform, exposes corruption or otherwise engages in dissent.'”

http://www.cato.org/blog/reckless-frenemy-saudi-arabia-makes-world-more-dangerous-america

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Norway to Start Withdrawals From Oil Fund to Plug Deficits

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“Norway predicts it will for the first time need to withdraw cash from its $820 billion sovereign wealth fund as western Europe’s biggest oil exporter uses a record chunk of its petroleum revenue to cover budget holes and stimulate the economy. Tapping the fund to cover budget needs comes at a time when the managers of the fund, set up to safeguard the wealth of future generations, warn that it also faces diminished returns amid record-low interest rates. The government said it will spend 4 billion kroner on a jobs plan and cut or hold income taxes for nine out of 10 people. It’s lowering the corporate tax rate to 25 percent from 27 percent and aims to cut it to 22 percent by 2018.”

http://www.bloomberg.com/news/articles/2015-10-06/norway-budget-proposes-boosting-oil-spending-by-14-nrk-says

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The Trouble With Sovereign-Wealth Funds

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“The world’s sovereign-wealth funds together have assets of $7.2 trillion, according to the Sovereign Wealth Fund Institute, which studies them. That is twice their size in 2007, and more than is managed by all the world’s hedge funds and private-equity funds combined, according to J.P. Morgan Asset Management. The number of funds tracked by the Institute of International Finance is up 44% to 79 since the end of 2007. Nearly 60% of sovereign-wealth-fund assets are in funds dependent on energy exports. Now, some funds are shrinking or are being tapped by governments as oil revenues fall. That is forcing them to borrow or sell investments, potentially pressuring global markets.”

http://www.wsj.com/articles/the-trouble-with-sovereign-wealth-funds-1450836278

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Zimbabwe adopts Chinese yuan as legal tender

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“As China slowly began to enter African markets, it sought out countries overlooked or shunned by Western investors: Zimbabwe fit the bill perfectly. Beijing sought to court Zimbabwe with the deep pockets of state run companies, and shadowy investors such as Sam Pa (a man with seven known names and ties to the Chinese intelligence service.)  China is now Zimbabwe’s largest trading partner, purchasing 27.8% of the country’s exports. Moreover, bilateral trade has grown from $500 million in 2010 to $1.24 billion in 2014, with Beijing having provided Zimbabwe with $1 billion in low-interest loans since 2010.”

http://globalriskinsights.com/2016/01/zimbabwe-adopts-yuan-as-legal-tender/

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First Crude Oil Shipment Exports From U.S. After 40 Year Ban Lifted

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“The first crude oil shipment exported from the United States, after a 40 year ban, left from Corpus Christi, Texas last Thursday.  NuStar Energy and ConocoPhillips loaded a vessel with light crude oil pumped from the Eagle Ford Shale of South Texas at NuStar’s North Beach Terminal at Port Corpus Christi. The crude is to be sold to the international trading company Vitol. As a result of the federal government’s repeal of the 40-year ban on the export of crude oil, via the last government omnibus spending bill, crude oil shipments are free to leave the country now.”

http://dailycaller.com/2016/01/03/first-crude-oil-shipment-exports-from-u-s-after-40-year-ban-lifted/

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The Saudi Town on the Frontline of Yemen’s War

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“Efforts to halt the fighting have made little progress.  The war is also a political test for the kingdom’s coming man, Deputy Crown Prince Prince Mohammed bin Salman. As defense minister, he’s in charge of it and stands to lose face if it fails.  Najran was home to one of the peninsula’s Jewish communities, about 200 strong, before the Saudis captured it in 1934 — with the help of a loan from Standard Oil of California, which Saudi leaders used to buy weapons and form a regular army, according to ‘The History of Saudi Arabia’ by Alexei Vassiliev. By 1949, the Jewish population had fled — to Yemen.”

http://www.bloomberg.com/news/articles/2015-12-21/in-one-saudi-town-gunfire-all-day-brings-yemen-war-near-home

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Saudi allies Bahrain, Sudan and UAE join action against Iran

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“Saudi Arabia rallied Sunni allies to its side in a growing diplomatic row with Iran on Monday, deepening a sectarian split across the Middle East following the kingdom’s execution of a prominent Shi’ite cleric.  Bahrain and Sudan cut all ties with Iran, following Riyadh’s example the previous day. Saudi Foreign Minister Adel al-Jubeir told Reuters Riyadh would also halt air traffic and commercial relations between the rival powers.  He blamed Iran’s ‘aggressive policies’ for the diplomatic action, alluding to years of tension that spilled over on Saturday night when Iranian protesters stormed the kingdom’s embassy in Tehran.”

http://www.sbs.com.au/news/article/2016/01/05/saudi-allies-bahrain-sudan-and-uae-join-action-against-iran

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Saudi Arabia posts $98B deficit amid slumping oil prices

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“Saudi Arabia on Monday said this year’s budget deficit amounted to $98 billion as lower oil prices cut into the government’s main source of revenue, prompting the kingdom to scale back spending for the coming year and hike gas prices.  Instead of cutting oil production to drive prices up, Saudi Arabia has aggressively kept its production levels high in what analysts say is an attempt to keep its market share and stymie the reach of U.S. shale producers in the global market. To cover the difference between its spending and revenue over the past year, Saudi Arabia has drawn its reserves down from $728 billion at the end of last year to around $640 billion.”

http://www.cbc.ca/news/world/saudi-arabia-falling-oil-prices-1.3382432

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Justin Raimondo: The Mossad Caucus Exposed

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“Netanyahu and his government were engaged in an all-out campaign to torpedo the nuclear agreement with Iran, and that effort wasn’t limited to using their American fifth column to put pressure on Congress and the Obama administration. Israeli intelligence planted malware in the hotel computers where US negotiators were staying during the negotiations in Switzerland: they intercepted highly sensitive inside information on the talks, and leaked it. Did they leak to members of Congress opposed to the Iran deal? It no doubt occurred to the US intelligence community to ask this question, and answering it was a matter of national security.”

http://original.antiwar.com/justin/2015/12/31/mossad-caucus-exposed/

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