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Jolie Rouge · 11-17-2004, 03:30 PM

Oil-For-Food - Much Worse Than We Thought
by Gary D. Halbert
November 16, 2004

last wrote about the “Oil-for-Food”program in Iraq in May shortly after the United Nations (UN) engaged former Federal Reserve chairman Paul Volcker to conduct an internal investigation of the scandal. Only limited attention was focused on the scandal at the time, as the media was busy trying to get John Kerry elected president.

When I wrote my E-Letter on the subject in May, we were told that Saddam Hussein and his cronies in Iraq and elsewhere had skimmed $10-$11 billion from the Oil-For-Food program, which was supposed to be a humanitarian effort to get food and medical supplies to the beleaguered Iraqi people. At that time, I said this was the largest financial scandal in history.

The United States Senate, to its credit, figured out that the Volcker investigation into the scandal was not going to get very far, since Volcker has only limited powers and no subpoena authority to go after the bad guys in the UN. So the Senate launched its own investigation, which has received little attention due to the election. But now, the facts are starting to leak out.

On Monday, we learned that the Senate Permanent Subcommittee on Investigations now believes that Hussein and his cronies pocketed in excess of $21 billion, more than twice the $10 billion reported earlier, from the Oil-For-Food program. And it will probably get even larger.

We also learned that the Senate has requested over 50 Oil-For-Food documents and registers from the United Nations, and UN Secretary-General Kofi Annan is stonewalling. So far, he has refused to turn over the documents. The good news is, this will likely lead to the resignation of Annan before this is over.

The trouble is, much of the billions that Hussein skimmed from the program is unaccounted for. The fear is that some of that money may now be in the hands of terrorists and insurgents that are battling our troops in Iraq. Given the scope of this unfolding scandal, we revisit the topic this week, including excerpts from my May 25 issue in which I explained how the scandal worked.

The Oil-For-Food Scandal Widens

Until this week, we had been told that the Oil-For-Food scandal allowed Saddam Hussein to pocket some $10 billion in illegal profits that he used to build palaces and purchase military arms and equipment. Senator Norm Coleman who is heading the Senate investigation said on Monday that the hearings to be conducted this week and beyond will reveal that Hussein illegally pocketed over $21 billion from the program.

About all we have learned from the Volcker investigation is that the scandal involved some 248 companies that bought Iraqi oil since the program began. Volcker also released a list of 3,545 firms that sold humanitarian goods to Saddam Hussein’s regime during the seven-year Oil-For-Food program.

The Senate Permanent Subcommittee on Investigations is demanding a full and complete independent audit of the UN’s Oil-For-Food records, and has requested over 50 specific documents. So far, Kofi Annan is stonewalling. That has led to increasing pressure for Annan to resign his post as the head of the UN. There is a very good chance that will occur shortly.

As I will discuss below, the largest benefactors from the Oil-For-Food – other than Saddam Hussein and his cronies – were Russia, France and a host of other players. This explains why France and Russia were so opposed to the war in Iraq. We can only hope that all the facts are revealed in the weeks and months just ahead, and that the UN and the other major players are properly discredited! And we will hopefully learn, finally, if Saddam used his Oil-For-Food billions to fund terrorists.

Doomed From The Very Beginning

The UN Oil-For-Food program was established after the Gulf War in 1991 and was designed to allow Iraq to sell enough oil to meet the humanitarian needs of the Iraqi people, such as food, medical supplies, essential services, etc. The program was never intended to line the pockets of Saddam or benefit his cronies around the world, which sadly is exactly what it did for many years.

As with many UN programs, Oil-For-Food was poorly structured, thus allowing for massive abuses. The nature and scope of these abuses were so grievous and so widespread that the Oil-For-Food program is proving to be the greatest financial scandal in history. This incredibly huge scam crosses borders, religions and political ideologies, uniting those involved in plain and simple greed.

What’s most stunning are recent revelations exposing those at the UN and elsewhere who were primarily responsible for the abuses, and who participated in this massive fraud. In short, many in the UN administrative infrastructure and many of its members have been blatantly corrupt, as have some of our so-called “allies” around the world.

While many in the UN loudly criticized our efforts in the War on Terror as inhumane, at the same time they were skimming millions from the Oil-for-Food program and thereby depriving the Iraqi people of needed food and medicine. Is it any wonder there was such opposition to the US invasion of Iraq? No, it was simply bad for business!

There is a massive cover-up underway at the UN, and the media is cooperating as always. Despite the latest revelations from Volcker and what is emerging from the Senate investigation, we hear only scant soundbites in the media about this enormous scandal. If all the facts in this scandal actually see the light of day, the UN will emerge discredited, weakened, and very possibly, broken. Maybe that wouldn’t be such a bad thing.

11-17-2004, 03:30 PM	#18 (permalink)
Jolie Rouge C & P Queen Join Date: Oct 2000 Location: Lan astaslem ! Posts: 38,125 iTrader: (2) Thanks: 1,463 Thanked 3,532 Times in 1,947 Posts	Oil-For-Food - Much Worse Than We Thought by Gary D. Halbert November 16, 2004 last wrote about the “Oil-for-Food”program in Iraq in May shortly after the United Nations (UN) engaged former Federal Reserve chairman Paul Volcker to conduct an internal investigation of the scandal. Only limited attention was focused on the scandal at the time, as the media was busy trying to get John Kerry elected president. When I wrote my E-Letter on the subject in May, we were told that Saddam Hussein and his cronies in Iraq and elsewhere had skimmed $10-$11 billion from the Oil-For-Food program, which was supposed to be a humanitarian effort to get food and medical supplies to the beleaguered Iraqi people. At that time, I said this was the largest financial scandal in history. The United States Senate, to its credit, figured out that the Volcker investigation into the scandal was not going to get very far, since Volcker has only limited powers and no subpoena authority to go after the bad guys in the UN. So the Senate launched its own investigation, which has received little attention due to the election. But now, the facts are starting to leak out. On Monday, we learned that the Senate Permanent Subcommittee on Investigations now believes that Hussein and his cronies pocketed in excess of $21 billion, more than twice the $10 billion reported earlier, from the Oil-For-Food program. And it will probably get even larger. We also learned that the Senate has requested over 50 Oil-For-Food documents and registers from the United Nations, and UN Secretary-General Kofi Annan is stonewalling. So far, he has refused to turn over the documents. The good news is, this will likely lead to the resignation of Annan before this is over. The trouble is, much of the billions that Hussein skimmed from the program is unaccounted for. The fear is that some of that money may now be in the hands of terrorists and insurgents that are battling our troops in Iraq. Given the scope of this unfolding scandal, we revisit the topic this week, including excerpts from my May 25 issue in which I explained how the scandal worked. The Oil-For-Food Scandal Widens Until this week, we had been told that the Oil-For-Food scandal allowed Saddam Hussein to pocket some $10 billion in illegal profits that he used to build palaces and purchase military arms and equipment. Senator Norm Coleman who is heading the Senate investigation said on Monday that the hearings to be conducted this week and beyond will reveal that Hussein illegally pocketed over $21 billion from the program. About all we have learned from the Volcker investigation is that the scandal involved some 248 companies that bought Iraqi oil since the program began. Volcker also released a list of 3,545 firms that sold humanitarian goods to Saddam Hussein’s regime during the seven-year Oil-For-Food program. The Senate Permanent Subcommittee on Investigations is demanding a full and complete independent audit of the UN’s Oil-For-Food records, and has requested over 50 specific documents. So far, Kofi Annan is stonewalling. That has led to increasing pressure for Annan to resign his post as the head of the UN. There is a very good chance that will occur shortly. As I will discuss below, the largest benefactors from the Oil-For-Food – other than Saddam Hussein and his cronies – were Russia, France and a host of other players. This explains why France and Russia were so opposed to the war in Iraq. We can only hope that all the facts are revealed in the weeks and months just ahead, and that the UN and the other major players are properly discredited! And we will hopefully learn, finally, if Saddam used his Oil-For-Food billions to fund terrorists. Doomed From The Very Beginning The UN Oil-For-Food program was established after the Gulf War in 1991 and was designed to allow Iraq to sell enough oil to meet the humanitarian needs of the Iraqi people, such as food, medical supplies, essential services, etc. The program was never intended to line the pockets of Saddam or benefit his cronies around the world, which sadly is exactly what it did for many years. As with many UN programs, Oil-For-Food was poorly structured, thus allowing for massive abuses. The nature and scope of these abuses were so grievous and so widespread that the Oil-For-Food program is proving to be the greatest financial scandal in history. This incredibly huge scam crosses borders, religions and political ideologies, uniting those involved in plain and simple greed. What’s most stunning are recent revelations exposing those at the UN and elsewhere who were primarily responsible for the abuses, and who participated in this massive fraud. In short, many in the UN administrative infrastructure and many of its members have been blatantly corrupt, as have some of our so-called “allies” around the world. While many in the UN loudly criticized our efforts in the War on Terror as inhumane, at the same time they were skimming millions from the Oil-for-Food program and thereby depriving the Iraqi people of needed food and medicine. Is it any wonder there was such opposition to the US invasion of Iraq? No, it was simply bad for business! There is a massive cover-up underway at the UN, and the media is cooperating as always. Despite the latest revelations from Volcker and what is emerging from the Senate investigation, we hear only scant soundbites in the media about this enormous scandal. If all the facts in this scandal actually see the light of day, the UN will emerge discredited, weakened, and very possibly, broken. Maybe that wouldn’t be such a bad thing. __________________ Laissez les bon temps rouler! Going to church doesn't make you a Christian any more than standing in a garage makes you a car. a 4 day work week & sex slaves ~ I say Tyt for PRESIDENT!** Not to be taken internally, literally or seriously ....Suki ebaynni IS THAT BETTER ?