by David Phinney
Tuesday May 21st 2019

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Greenspan, Terrorism and Oil

Former Federal Reserve chairman Alan Greespan connects the dots on oil and the White House “War or Terrorism” in Iraq with his new book, The Age of Turbulence: Adventures in a New World, released today. The Los Angeles Times relates Greenspan recalling:

“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.”

That comment elicited “clarification from Greespan in an interview with Bob Woodward at The Washington Post: “I was not saying that tha”s the administration’s motive…. “I’m just saying that if somebody asked me, ‘Are we fortunate in taking out Saddam?’ I would say it was essential.”
The Washington Post adds that Greenspan said: ….that he made his economic argument to White House officials and that one lower-level official, whom he declined to identify, told him, “Well, unfortunately, we can’t talk about oil.” Asked if he had made his point to (Vice President) Cheney specifically, Greenspan said yes, then added, “I talked to everybody about that.”

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