WHAT WILL THE OIL KINGS DEATH MEAN HERE? The intimate US-Saudi relationship, which Obama praised Thursday as “a force for stability and security in the Middle East and beyond,” stands as an unanswerable indictment of the hypocrisy of US imperialism’s attempt to justify its predatory policies in the Middle East and internationally in the name of “democracy” and “human rights.” . . . The heart of this relationship has been US military protection of Saudi Arabia in return for tying its domination of the world oil markets to American interests. This was solidified in 1973 in a deal brokered by then US President Richard Nixon in which he pledged to ensure US defense of and arms sales to the Saudi monarchy in return for all of the kingdom’s oil sales being denominated in US dollars, giving rise to the recirculation of “petrodollars” into US financial markets and arms purchases. - Bill Van Auken
Posted on: Sat, 24 Jan 2015 10:49:04 +0000
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