Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

U.S. Saudi Arms Deal is About Iran

Politics / Middle East Nov 02, 2010 - 07:14 AM GMT

By: Dr_Ron_Paul

Politics

This month the US Administration notified Congress that it intends to complete one of the largest arms sales in US history to one of the most repressive regimes on earth. Saudi Arabia has been given the green light by the administration to spend $60 billion on some 84 new F-15 aircraft, dozens of the latest helicopters, and other missiles, bombs, and high-tech military products from the US weapons industry.


Saudi Arabia, from where 15 of the 19 September 11 hijackers came, is a family-run dictatorship, where there are no political parties, no independent press, and where any form of political dissent is met with the most severe punishment. We are told that we must occupy Afghanistan to encourage more rights for women, an issue on which the Saudi regime makes the Taliban look rather liberal by comparison. We are told that our increasingly aggressive policies toward Iran are justified by that country's rigid Islamic laws and human-rights violations, while the even more repressive Islamic rule in Saudi Arabia is never mentioned.

So why would the US government, which spends hundreds of billions of dollars yearly and maintains hundreds of bases overseas to push global democracy, approve a deal like this with such a regime? As Stockholm Institute scholar Pieter Wezeman told the Washington Post, "Of course it's against Iran. Of course it's against Yemen. You can read between the lines ... but there are not any official statements about it." Although the deal must be approved by Congress, there is little chance of any significant Congressional opposition for the above reason.

Imagine if China had armed an aggressive, anti-American Mexico to the teeth. How would we feel? Threatened? That is likely how Iran feels with this massive arms sale to Saudi Arabia. To underscore this message, the US quietly announced early this month that it was selling 20 F-35 Stealth fighters to Israel. As Israeli military purchases are paid for with US foreign aid, we must realize that the weapons pointed at Iran in the Middle East are American made and largely paid for with American tax dollars. Certainly Iran understands this. Will such a provocative move, arming two anti-Iranian powers in the region to the teeth, lead to a trigger event to bring about a full invasion of Iran? The economic tsunami that would result from such a horrific turn of events would only be eclipsed by the death and destruction in the region -- and likely beyond.

Some will argue that these arms deals are international trade which we should encourage and applaud. Sadly, the United States does not build much that we can export these days. But the fact is that the US weapons industry is underwritten by the American taxpayer. From research and development to acquisition by the US military, the costs of the US arms industry are borne by American citizens. But, as so-called "private" companies, the enormous profits they make selling weapons to countries like Saudi Arabia are of course privatized. So the costs are socialized and the profits are privatized. There is a word for this arrangement and it is not "capitalism."

Dr. Ron Paul
Project Freedom

Congressman Ron Paul of Texas enjoys a national reputation as the premier advocate for liberty in politics today. Dr. Paul is the leading spokesman in Washington for limited constitutional government, low taxes, free markets, and a return to sound monetary policies based on commodity-backed currency. He is known among both his colleagues in Congress and his constituents for his consistent voting record in the House of Representatives: Dr. Paul never votes for legislation unless the proposed measure is expressly authorized by the Constitution. In the words of former Treasury Secretary William Simon, Dr. Paul is the "one exception to the Gang of 535" on Capitol Hill.

Dr. Ron Paul Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in