Inbred Oil Kings, Bush League Crime & the End of the Energy Oligopoly

 

by Dean Henderson

Veterans Today Network

 

With revolution percolating through the oil-rich sands of the Middle East, the Rothschild/Rockefeller energy oligopoly that has enslaved humankind and decimated planet Earth for the last century is coming apart at the seams. The arrogance and stupidity of the self-proclaimed “illuminated ones”, who operate their energy matrix from the City of London, is being writ large for all to see.

Troops from Saudi Arabia and the United Arab Emirates (UAE) have entered Bahrain to help the al-Khalifa petro-monarchy put down pro-democracy protests.  Protests have been violently suppressed in Kuwait and Saudi Arabia.  This desperate coercion, condoned by Western powers, represents a last-ditch effort at salvaging the Gulf Cooperation Council (GCC) – the neo-colonial modus operandiorganized by the London banksters.

(What follows is excerpted from Big Oil & Their Bankers…)

The six GCC nations – Saudi Arabia, Kuwait, Bahrain, UAE, Qatar and Oman – sit atop 42% of the world’s oil. The single-family monarchies that control them were hand-picked by the British Empire. They work in tandem with Israel to steal crude oil from the Arab people. They – not China or Japan – are the biggest foreign sovereign purchasers of US Treasuries. Their interests lie not with the Arab people, but with the City of London and Wall Street.

The bloodline elite of the six GCC nations are heavily invested in Western economies. High volume crude oil production keeps this investment capital flowing to Wall Street and the City of London while allowing the GCC elites to live opulent lifestyles. As Saudi Oil Minister Hisham Nazer put it, “We now have a mutual bond of self-interest and reciprocal security interests.”

As Western dependence on Third World resources has increased, it has become increasingly necessary for the international bankers and their corporations to include local elite cliquesin their capital accumulation schemes, making a small group of local people extremely wealthy so that this group will cooperate in selling local resources cheaply to the West.

The bloodline elite of the six GCC nations are heavily invested in Western economies. High volume crude oil production keeps this investment capital flowing to Wall Street and the City of London while allowing the GCC elites to live opulent lifestyles. As Saudi Oil Minister Hisham Nazer put it, “We now have a mutual bond of self-interest and reciprocal security interests.”

An example of this utilization of local elites as surrogates can be seen through the case of the richest man in the world. He is Sultan Hassanal Bolkiah, Sultan of Brunei – a tiny oil enclave on the island of Borneo, where Royal Dutch/Shell holds a virtual monopoly over the oil industry and has paid the Sultan well to keep it that way. The Sultan of Brunei is worth over $60 billion and lives in a 1,778-room palace.

These local elite, in turn, hand over their wealth to Western bankers for protection from devaluation and bank failure. This robs their home country of much-needed capital and often precipitates devaluation and debt crises. The US has itself become a debtor nation and owes its debts, in part, to these same Third World elites, who own trillions on deposit at large US banks, while their fellow countrymen live in abject poverty.

Egyptian elites, for example, hold $60 billion in deposits in foreign banks, while the average Egyptian earns $650/year. In the case of the GCC, the amount of recycled petrodollars flowing back into Western investments is truly staggering.

The Saudis have over $600 billion invested abroad. Citigroup owns 33% of the Saudi American Bank but is itself now controlled by members of the House of Saud. In 1993 Saudi Prince al-Waleed bin Talal, owner of Saudi Commercial Bank, plunged $590 million into Citibank. bin Talal now owns 17.34% of Citigroup, while Crown Prince Abdullah owns a 5.4% share, making them the bank’s two largest shareholders. bin Talal is also the 2nd largest shareholder in Rupert Murdoch’s Newscorp, parent of Fox News and the Wall Street Journal.

The Saudi Citigroup share purchases were facilitated by the Washington-based Carlyle Group, which is 20% owned by the Mellon family that owned Gulf Oil and now owns a large chunk of Chevron Texaco. Carlyle is led by former Reagan and Bush Defense Secretary and Reagan NSC Chairman, Frank Carlucci.  George Bush Sr., James Baker III, and former British Prime Minister John Major, are senior advisers and board members at Carlyle.

Bush Sr. served as Carlyle investment advisor to the bin Laden family until November 2001.

In 1995 Prince bin Talal teamed up with Canadian developer Paul Reichmann, Loews chairman Larry Tisch and Lebanese financier Edmund J. Safra – a close friend of war-criminal Henry Kissinger – to buy London’s Canary Wharf complex for $1.04 billion.

UAE ruling Sheik Zayed runs the Abu Dhabi Investment Authority. Much of its money is handled by private investment and equity firms like Carlyle Group and Donaldson, Lufkin & Jenrette, which is 18% owned by the Saudi Olayan Group. Olayan also owns big chunks of JP Morgan Chase and CS First Boston. The director of the Abu Dhabi Investment Authority serves as Carlyle Group’s Asian adviser.

Bahrain plays a role in this petrodollar recycling, serving as the key unregulated offshore banking center for both the GCC sheiks and their international mega-bank partners. Bahrain is also home to the US Fifth Fleet and a large number of refineries, which process Saudi crude.

The Saudis have over $600 billion invested abroad. Citigroup owns 33% of the Saudi American Bank but is itself now controlled by members of the House of Saud. In 1993 Saudi Prince al-Waleed bin Talal, owner of Saudi Commercial Bank, plunged $590 million into Citibank… and the 2nd largest shareholder in Rupert Murdoch’s Newscorp, parent of Fox News and the Wall Street Journal.

Lebanon had been the premier banking center of the Middle East in earlier days, but with Beirut reduced to rubble by Israeli shelling, merchant banking has moved to the duty-free port of Dubai in the UAE, which is now the biggest gold market on the planet.  Investment banking is centered in Kuwait.

But it is Bahrain that is home to the vast multi-billion dollar pool of money market funds derived from GCC/Four Horsemen petrodollar revenues.  Most banks in Bahrain are foreign-owned and all US mega-banks have operations there. Many of Bahrain’s banks are owned by GCC elite and serve as a major conduit in the petrodollar recycling process. The Kuwait Burgan Bank, for example, owns a 28% stake in one of Bahrain’s largest banks – the Middle Eastern Bank.

Investcorp’s First Board of Directors. 1982

The most powerful firm in Bahrain is Investcorp, which took big stakes in Saks Fifth Avenue, BAT, Tiffany, Gucci, Color Tile, Carvel Ice Cream, Dellwood Foods, New York Department Store of Puerto Rico, Circle K and Chaumet.

Investcorp was co-founded in 1983 by Bahrain ruling family scion Sheik Khalifa bin Sulman al-Khalifa – who also owned a big chunk of the infamous BCCI.  A recent Investcorp prospectus lists the Bahrain Minister of Finance as an owner.

Investcorp’s chairman is Abdul-Rahman Al-Ateeqi, former Oil and Finance Minister of Kuwait. Its Vice-President is Ahmed Ali Kanooof the wealthy Saudi Kanoo family, which is worth an estimated $1.5 billion. Former Saudi Oil Minister Sheik Yamani was one of Investcorp’s founding shareholders, along with seven members of the Saudi royal family.

 

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