Greenspan: the Iraq war was largely about oil

Global Research, September 17, 2007

Observer

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Greenspan admits Iraq was about oil, as deaths put at 1.2m in New York.

The man once regarded as the world’s most powerful banker has bluntly declared that the Iraq war was ‘largely’ about oil.

Appointed by Ronald Reagan in 1987 and retired last year after serving four presidents, Alan Greenspan has been the leading Republican economist for a generation and his utterings instantly moved world markets.

In his long-awaited memoir – out tomorrow in the US – Greenspan, 81, who served as chairman of the US Federal Reserve for almost two decades, writes: ‘I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.’

In The Age of Turbulence: Adventures in a New World, he is also crystal clear on his opinion of his last two bosses, harshly criticising George W Bush for ‘abandoning fiscal constraint’ and praising Bill Clinton’s anti-deficit policies during the Nineties as ‘an act of political courage’. He also speaks of Clinton’s sharp and ‘curious’ mind, and ‘old-fashioned’ caution about the dangers of debt.

Greenspan’s damning comments about the war come as a survey of Iraqis, which was released last week, claims that up to 1.2 million people may have died because of the conflict in Iraq – lending weight to a 2006 survey in the Lancet that reported similarly high levels.

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