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or military operations in the Middle East is the source of tremendous speculative gains. The Bush administration has opted for an all-out war on Both the war agenda and the proposed economic Iran in alliance with Israel, with a view to establishing an _ sanctions regime trigger, quite deliberately, a global exclusive American sphere of influence in the Middle atmosphere of insecurity and economic chaos. East. In turn, the institutional speculators in London, Chicago A US-Israel-sponsored military operation directed and New York not only feed on economic chaos and against Iran would largely backlash on the economic and —_ uncertainty, but their manipulative actions in the energy financial interests of several of America's allies, including | and commodity markets contribute to spearheading large Germany, Italy, France and Japan. sectors of the civilian economy into bankruptcy. More generally, a war on Iran would hit corporate The economic and financial dislocations resulting from interests involved in the civilian economy as opposed to __ the hikes in the prices of crude oil and food staples are the those more directly linked to the military-industrial source of financial gains by a handful of global actors. complex and the war economy. It would undermine local Speculators are not concerned with the far-reaching and regional economies, the consumer manufacturing and — consequences of a broader Middle East war, which could services economy, the automobile industry, the airlines, evolve into a World War III scenario. the tourism and leisure economy, etc. The pro-Israeli lobby in the USA indirectly serves these Moreover, an all-out war feeds the profit-driven agenda _ powerful financial interests. In the current context, Israel of global banking, including the institutional speculators is an ally with significant military capabilities which War and Financial Manipulation in the energy market, the serves America's broader objective powerful Anglo-American oil in the Middle East. Washington, giants and America's weapons Financial manipulation however, has little concern for the producers, the big five defence 0. 8nd security of Israel, which in the contractors plus British IS intimately related to case of a war on Iran would be Aerospace Systems, which play military decision-making. the first target of retaliatory a major role in the formulation h military action by Tehran. of US foreign policy and the Major banks and financial The broader US objective Pentagon's military agenda, not . Orn ° consists in establishing, through to mention the vamut of institutions have links to military and economic means, an mercenary companies and the military—intelligence exclusive US sphere of influence military contractors. throughout the Middle East. A small number of global apparatus. corporations and financial Endnotes institutions feed on war and 1. http://tinyurl.com/619t3e destruction to the detriment of important sectors of 2. http://tinyurl.com/Snblac economic activity. Broadly speaking, the bulk of the 3. http://tinyurl.com/5slnjz civilian economy is threatened. 4. http://tinyurl.com/69bw7h What we are dealing with are conflicts and rivalries 5. http://tinyurl.com/Srav9x within the upper echelons of the global capitalist system, 6. http://tinyurl.com/6dpskm largely opposing those corporate players which have a direct interest in the war, to the broader capitalist economy About the Author: which ultimately depends on the continued development Professor Michel Chossudovsky is Professor of Economics of civilian consumer and investment demand. at the University of Ottawa and Director of the Centre for These vested interests in a profit-driven war also feedon Research on Globalization, Montreal, Canada economic recession and financial dislocation. The process (http://www.globalresearch.ca). He is editor of and a regular of economic collapse which results, for instance, from the —_ contributor to GlobalResearch.ca, the group's online speculative hikes in oil and food prices triggers presence. He is the author of The Globalisation of Poverty bankruptcies on a large scale, ultimately enabling a — and the New World Order (1997) and America's "War on handful of global corporations and financial institutions to Terrorism" (2005). His previous contributions to NEXUS "pick up the pieces" and consolidate their global control are "The US Finances Ethnic War in the Balkans" (2001, over the real economy as well as over the international —_8/04), "US Agenda for Global Military Domination (2005, Financial manipulation is intimately related to military decision-making. Major banks and financial institutions have links to apparatus. About the Author: Professor Michel Chossudovsky is Professor of Economics at the University of Ottawa and Director of the Centre for Research on Globalization, Montreal, Canada (http://www.globalresearch.ca). He is editor of and a regular contributor to GlobalResearch.ca, the group's online presence. He is the author of The Globalisation of Poverty and the New World Order (1997) and America's "War on Terrorism" (2005). His previous contributions to NEXUS are "The US Finances Ethnic War in the Balkans" (2001, 8/04), "US Agenda for Global Military Domination (2005, 12/04), and "US-NATO's Nuclear First Strike Policy" (2008, 15/03). monetary system. Financial manipulation is intimately related to military decision-making. Major banks and financial institutions have links to the military—intelligence apparatus. Advance knowledge or inside information by these institutional speculators regarding specific "false flag" terrorist attacks Editor's Note: This is an edited version of Professor Chossudovsky's article at the web page http://tinyurl.com/Svhhvd. 14 ¢ NEXUS War and Financial Manipulation the military-intelligence www.nexusmagazine.com AUGUST — SEPTEMBER 2008