----- Original Message -----
Sent: Wednesday, October 13, 2004 8:55 PM
Subject: New Scrutiny of the Flow of Iraqi Oil to American
Consumers
1. & 2. About the origin of Protocols
3. Asian preference; Licensing and regulations make Europe cumbersome
4. Please! No theological discussions aboard the Titanic!
5. Iraq - Scott Ritter - the inspection process was pre-programmed to
fail. Duelfer
6. Zionism is Racism Exhibit # 3247
7. New Scrutiny of the Flow of Iraqi Oil to American Consumers
8. Christian Zionism by Stephen Sizer [shamireaders]
9. Groups Defend Plan to Swap IMF Gold for Third World Debt (IPS, Oct
8)
(1) About the origin of Protocols
Date: Mon, 11 Oct 2004 22:59:57 +0200 From: "Vicente Zanon"
<viczan_@hotmail.com>
The article that I have sended to you isnīt from Fortean Times or Fate.
The webpage where it appears is:
http://www.ufoinfo.com/roundup/v08/rnd0840.shtml . It seems that the
author is Joseph Trainor although Iīm not sure.
Have you considered the theories of Rabbi Antelman that blames all the
conspiratorial involvement of jews in revolutions (Russsian, Hungarian,
etc) to Shabbatean messianic jews ( or perhaps is merely a diversion to
distract from the main culprit ) ? :
The Deutsch Devils By Barry Chamish
chamish@mail.netvision.net.il
12-31-3
(2) About the origin of the Protocols
Date: Tue, 12 Oct 2004 05:52:14 +0100 From: "Rowan Berkeley"
<rowan_berkeley@yahoo.co.uk>
The Glinka story isn't from "Fortean times", it is from here:
http://www.ufoinfo.com/roundup/v08/rnd0840.shtml scroll down about 5/8
way -- this is not a conspiratological magazine but a ufological one, so
your comment anent their onesidedness may be misplaced. However,
browsing further, I have found a piece discrediting the plucky Nesta
Webster:
http://www.ufoinfo.com/roundup/v08/rnd0836.shtml scroll down
about 3/4 way -- so maybe there's a pattern of using ufological fantasy
to debunk conspiratological fact. Rowan
(3) Asian preference; Licensing and regulations make Europe cumbersome
Date: Mon, 11 Oct 2004 23:55:35 +0100 From: "Peter Wakefield Sault"
<sault@cyberware.co.uk>
The 'Fortean Times' is a combination of both comic-book occultism and
Orwellian doublecross. It is a Brotherhood for cranks so Big Brother can
keep an eye on them, always on the lookout for troublemakers. That's how
Great ("Big") Britain ("Brother") operates at all levels. That should
answer your question about why the 'Fortean Times' will only present a
serpentine tapestry that has no bearing whatever on reality whilst
liberally romancing up a melange of exotic cranks of the 19th Century.
It gets the suckers in.
(4) Please! No theological discussions aboard the Titanic!
Date: Tue, 12 Oct 2004 08:43:54 +0900 From: "Patrick McNally"
<tkuh50@tku.ac.jp>
Please! No theological discussions aboard the Titanic!
The recent discussion entitled, Mglogo vs. Shamir vs John Kaminski vs
Ardeshir, caused me great concern because it distracts our attention and
energies away from the struggle against the great evil we all face. Our
common enemies are, of course, militant Judeo-Naziism and its Zionized
mammonite hangers-on. The discussion also makes our common enemies
rejoice to see dissension in the ranks of the tiny, tiny minority that
is opposing them.
We are all living on a Titanic and should not spend any time or energy
engaging in theologico-philosophical disputes with one another. All
efforts must be concentrated on practical resistance to the beast. Let
us focus on the following practical steps to resist:
1. Ardeshir earlier suggested that it is easy to make a
Michael-Moore-type documentary that really gets to the basic issues and
does not conveniently stop to beat a strawman. Someone should get
started making that documentary. If it could be distributed over the
Internet, it could "set the world on fire" in the best and most
figurative sense of that phrase.
2. John Kaminski wrote on the need to support Ernest Zundel, whom he
accurately described as the canary in the mine. We have got to at least
get on Zundel's wife's list and e-mail her our support. Try
irimland@zundelsite.org to
send her and Zundel a word of support!
3. Israel Adam has stated that the top 50 Canadian/American billionaires
responsible for promoting Judeo-Nazi intransigency must be publicly
confronted. That is a great idea and very easy to apply! And that
schmaltzy hate-monger from Boston University! He must also be confronted
whenever he gives one of his $25,000 a shot lectures. [cf. Norman
Finkelstein]
We must encourage one another in carrying out practical and concrete
acts of resistance and avoid any theoretical disputes which only make
our enemies gloat.
(5) Iraq - Scott Ritter - the inspection process was pre-programmed to
fail. Duelfer
Date: Mon, 11 Oct 2004 22:29:45 EDT From:
Ichee@aol.com
Iraq - Scott Ritter - the inspection process was pre-programmed to fail.
Duelfer and Blix knew this.
"Iraq's WMD were destroyed in 1991. The problem wasn't the weapons, but
verification of Iraq's declarations. The standards of verification set
by Duelfer-Blix were impossible for Iraq to meet, thus making closure on
the "cluster" issues also an unattainable goal. This situation answers
the second point as well. Since the inspection process was
pre-programmed to fail, there would be no way the US or the UK would
accept any finding of compliance from the UN weapons inspectors. The
inspection process was rigged to create uncertainty regarding Iraq's
WMD, which was used by the US and the UK to bolster their case for war."
http://argument.independent.co.uk/commentators/story.jsp?story=570477
(6) Zionism is Racism Exhibit # 3247
Date: Mon, 11 Oct 2004 21:46:45 -0700 From: Jeffrey Blankfort
<jblankfort@earthlink.net>
What is interesting about this story is that up to now, the Knesset has
generally left the issue of who will live where (that is the
prohibitions against non-Jews living on Jewish National Fund land) up to
the JNF. Now, the Knesset is acting on its own. Already more than 93 %
of land within the Green Line is restricted to Jews. If Arab/Palestinian
citizens of Israel are found to be living there, they can and have been
removed by a neighbor's complaint, despite a ruling against it by the
Israeli Court in 2000. It is not in conflict with the Israeli
constitution, if for no other reason that there is no Israeli
constitution. This leaves the rulers of Israel to use a variety of laws,
including those left over the British mandate, as wel as from the
Jordanians in the West Bank and the Egyptians in Gaza, to pursue their
nefarious and racist agenda.
Jeff
By Gideon Alon, Haaretz Correspondent October 11, 2004
The Knesset presidium voted on Monday to allow National Union MK Zvi
Hendel to propose a bill enabling the establishment of communities for
Jews only, sparking charges of racism.
If passed, the law would allow for the establishment of communities
comprised of no more than 500 families "that seek to preserve the
community character and will be designated for the residency of one
specific people only."
Hendel said the purpose of the bill was to allow for the creation of
communities for Jews only.
The presidium decision, which allows Hendel to present his bill for a
preliminary reading in 45 days, comes despite a 2000 High Court of
Justice ruling prohibiting discrimination on the basis of national
identity in the allotment of land.
"This is a racist bill that has no place in the law books," said Hadash
MK Mohammed Barakeh, calling it "anti-democratic" and "a constitutional
abomination."
Knesset members in favor of bringing the bill to the Knesset plenum for
a vote include Moshe Kahlon (Likud), Yuli Edelstein (Likud), Hemi Doron
(Shinui), Nissim Dahan (Shas). Opposing MKs include Barakeh and Eli
Ben-Menahem (Labor). Knesset Speaker Reuven Rivlin (Likud) abstained.
In March 2000, the High Court ruled thabbbt the policy of transferring
state land to the Jewish Agency for the purpose of creating communities
for Jews only was illegal.
About a week ago, the state decided to cancel a tender for land in
Carmiel that was allocated only for Jews after a petition was filed
against the tender.
(7) New Scrutiny of the Flow of Iraqi Oil to American Consumers
Date: Mon, 11 Oct 2004 22:13:44 -0700 From: Jeffrey Blankfort
<jblankfort@earthlink.net>
For those, like myself, who have argued that the war in Iraq was not
primarily "a war for oil" but a war for Israel, this article offers
proof that the major US oil companies were doing quite well dealing with
Saddam and vice-versa without going to war and destabilizing the
industry.
Jeff
http://www.nytimes.com/2004/10/11/international/middleeast/11crude.html
October 11, 2004
THE U.N. PROGRAM
New Scrutiny of the Flow of Iraqi Oil to American Consumers
By SIMON ROMERO and SCOTT SHANE
As Saddam Hussein pressed the United Nations oil-for-food relief program
for more money that he used to buy banned weapons, an unwitting ally may
have been the American driver. Almost until the eve of the invasion of
Iraq in March 2003, American oil companies were among the largest
purchasers of Iraqi crude oil.
The role that the companies, including ExxonMobil and ChevronTexaco,
played in the oil-for-food program is now coming under greater scrutiny
in the wake of a report by the chief arms inspector for the Central
Intelligence Agency that disclosed how extensively Mr. Hussein was
abusing profits from the oil sales.
Executives at the two companies insisted over the weekend that their
purchases of Iraqi oil were not illegal or unknown in international oil
markets in recent years. Industry analysts also said they did not know
of any improprieties by the companies.
"All of our purchases of Iraqi crude were conducted in full compliance
with the program," a spokesman for ChevronTexaco, Michael Barrett, said.
In 2001, Iraq was the source of 7 percent of all United States petroleum
imports, ranking sixth behind the largest foreign suppliers: Saudi
Arabia, Canada, Venezuela, Mexico and Nigeria, according to the Energy
Department.
Yet while such imports were considered routine, disclosures about
irregularities in how the Iraqi government selected partners to market
the oil have led to several investigations of the program - by the
United Nations, Congressional committees and a federal grand jury. The
United States attorney's office in Manhattan has issued subpoenas to
several American companies whose names appear on the Iraqi list as
having received vouchers for Iraqi oil.
A spokesman for the House International Relations Committee said
yesterday that the committee was exploring which oil companies had
received Iraqi oil or had been trading in the vouchers. While committee
investigators had been concentrating on the connection between vouchers
and Iraqi arms purchases, the report issued last week by Charles A.
Duelfer, the arms inspector, that named United States oil companies as
recipients of vouchers was now prompting the panel's investigators to
expand their inquiry to include the United States oil companies as well.
In the meantime, an investigator associated with the independent United
Nations-appointed panel looking into corruption in the oil-for-food
program, said that his group had not begun investigating whether or how
American and other oil companies had benefited. The panel, led by Paul
A. Volcker, the former chairman of the Federal Reserve system, is
concentrating on accusations of wrongdoing by United Nations employees
and companies like Cotecna Inspection of Switzerland and Saybolt
International, a Dutch concern, which the United Nations hired to
monitor parts of the program.
The investigator said that the panel would only begin to focus on oil
companies that got Iraqi crude oil, with or without United Nations
authorization, after this initial phase of the inquiry was completed,
which is likely to be weeks or even months away. The investigator noted
that the panel did not have subpoena power and lacked the authority to
take punitive action against any company, American or foreign. Under the
oil-for-food program, he said, member countries, not the United Nations,
were responsible for ensuring that their companies obeyed sanctions
against Iraq.
The House Energy and Commerce Committee has also joined the inquiry,
with the chairman, Representative Joe L. Barton, Republican of Texas,
sending a letter last Thursday to the United Nations secretary general,
Kofi Annan, asking Mr. Annan to release "any information in U.N.
possession which relates to the use of oil-for-food money to produce
chemical weapons in Iraq."
The oil-for-food program, over its life, resulted in $64.2 billion in
sales, making it the world's largest relief program, American officials
say. The amount of oil sold fluctuated as the program went on. At the
start, in December 1996, Iraq was allowed to sell only $2 billion worth
of oil every six months. That limit was raised to $5.26 billion every
six months by December 1999 and then was lifted altogether, until the
oil-for-food program came to an end in March 2003.
The program allowed Iraq the power to determine, with certain
exceptions, whom it sold oil to and whom it bought goods from, based on
the profits of the sale, according to the United Nations, but the United
Nations had veto authority over all the contracts. For a United States
oil company to participate, it first needed permission from Washington.
The revenue ultimately financed $31 billion of relief supplies and
equipment, including $1.6 billion of oil-industry spare parts and
equipment, among other items, according to the United Nations.
At the same time, Mr. Hussein was imposing illegal surcharges,
collecting kickbacks and smuggling oil outside the approved program,
generating almost $11 billion in illicit revenue, which he used to buy
weapons, other prohibited items and to build lavish palaces, according
to the Duelfer report.
Moreover, oil experts have said, the largest source of money from
unreported oil sales was from Iraq's illicit sale of oil to neighboring
Turkey and Jordan. Neither the United States nor Britain objected to
these sales to staunch Middle East allies until Mr. Hussein's government
began making similar oil shipments to Syria. Only then did Washington
protest the deals, the experts said.
Regardless of the route through which this oil reached world markets,
the United States was the single largest importer under the United
Nations program, with as much as half the oil in certain periods
processed at American refineries for sale in this country.
During the first seven months of 2002, the United States imported an
average of 566,000 barrels a day from Iraq, with big importers including
ExxonMobil, ChevronTexaco, Valero Energy and Koch Petroleum, according
to the Energy Department.
These American companies acquired the oil after it passed through a
complicated route of trading concerns and intermediaries. The Duelfer
report said that Bayoil, a Houston-based trading company, and Oscar S.
Wyatt Jr., a prominent Texas energy investor with a long history of
dealings in Iraq, were among those who received vouchers to buy Iraqi
oil under the program. Their receipt of these oil allocations does not
mean that they did anything illegal.
Mr. Wyatt did not respond yesterday to requests for comment, and
messages left at Bayoil's offices were not answered.
Illustrating the convoluted way Iraqi oil reached the United States, the
Energy Information Administration estimated in late 2002 that about 30
percent of it was first sold to Russian companies, with the rest bought
by companies from nations including Cyprus, Sudan and Pakistan.
The Iraqi oil was resold to intermediaries who then marketed it
internationally, largely to American oil companies. For example, in
2001, the energy administration estimated that significant amounts of
Iraqi crude oil wound up at American refineries, some of which had been
built decades ago in part to handle Iraqi blends.
Almost 80 percent of crude oil from the Basra region and more than 30
percent of oil from Kirkuk went to the United States in 2001, according
to the energy administration. Imports of Iraqi oil under the program
grew from an average of 89,000 barrels a day in 1997, to a peak of
795,000 barrels in 2001, and then declining to 459,000 barrels a day in
2002, the Energy Department said.
Eric Lipton and Judith Miller contributed reporting for this article.
(8) Christian Zionism by Stephen Sizer [shamireaders]
Date: Tue, 12 Oct 2004 10:47:00 +0200 From: Israel Shamir
<shamir@home.se>
Christian Zionism: Road Map to Armageddon? by Stephen Sizer
(InterVarsity Press: October 2004)<?xml:namespace prefix = o ns =
"urn:schemas-microsoft-com:office:office" />
The book is available through Amazon and directly from the author:
Stephen Sizer stephen.sizer@btinternet.com
Christ Church Vicarage Callow Hill, Virginia Water, GU25 4LD
www.sizers.org
www.cc-vw.org
Below- reviews and attacks by Zionist "experts"
Christian Zionism: Road Map to Armageddon?
(InterVarsity Press: October 2004)
Reviews
"Stephen Sizer's Christian Zionism : Road Map to Armageddon? is
essential reading for any western evangelical trying to understand the
religious dimensions of American support for <?xml:namespace prefix =
st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Israel. Sizer
writes as an insider within the church, not as a critic watching from
afar. And he shows with exacting clarity how evangelical eschatology has
now embedded itself in a modern political ideology. One quick read of
this book will change anyone's perspective on the Middle East
permanently."
Professor Gary M. Burge, Professor of New Testament, Wheaton College &
Graduate School, Wheaton (author of Whose Land, Whose Promise? What
Christians Are Not Being Told About Israel and the Palestinians.)
"I believe Stephen Sizer is one of the most authoritative scholars in
the world on the vital issue of Christian Zionism. He is a very
important voice speaking out against this destructive movement that is
killing us [Palestinians] through its theology." Canon Naim Ateek,
Founder & Director of Sabeel, Jerusalem (author of Justice and Only
Justice).
"This is a masterly and highly readable analysis of the history, the
world-view and the political implications of Christian Zionism. Sizer
has thrown down the gauntlet in a way that demands a response from those
who support the state of Israel for theological reasons." Colin Chapman,
Lecturer in Islamic Studies at the Near East School of Theology, Lebanon
(author of Whose Promised Land?).
"Stephen Sizer's work on Christian Zionism is the most important and
comprehensive on the subject to date, and should be read by all students
of the Middle East and by Christians concerned about a just resolution
to the Palestinian-Israeli conflict. Christian Zionism raises vital
theological and political challenges that must be addressed head-on by
Christians in the West, particularly evangelicals. The impact of this
terribly misguided movement is increasingly putting Christians in the
Middle East at risk, and it seems a far cry from the witness and message
of Jesus Christ." Professor Don Wagner, North Park University, Chicago
(author of Anxious for Armageddon).
"Sizer's book is a strong and powerful corrective to many popular books
that too easily catch the Christian imagination (for example Tim
LaHaye's Left Behind series and Hal Lindsey's Late Great Planet Earth).
He shows convincingly how these dispensational speculations may well be
untrue to the Bible as a whole and certainly undermine genuine peace
efforts in the Middle East. It is time for Christians in the West to
grow up in their thinking and to wake up to their responsibilities in
the land where Jesus once walked with his message of Good News for all."
Dr Peter Walker, Wycliffe Hall, Oxford (author of Jesus and the Holy
City).
"Stephen Sizer's doctoral thesis is a detailed and learned study of this
important and influential movement." Rabbi Professor Dan Cohn-Sherbok,
University of Wales. (author of Israel: The History of an Idea).
"You are a brave man as ever and I am sure I am not alone in being
grateful to you for the stand you have taken which is hugely needed both
in the Christian community and the wider world." Right Revd John
Gladwin, Bishop of Chelmsford (author of God's People in God's World)
'Stephen Sizer's masterly overview of Christian Zionism opens our eyes
to a theology that manipulates, oppresses, and shows no dignity or
justice to Jew or Palestinian. It is time for a theology that values all
equally instead of one that sees God as biased.' Revd Garth Hewitt,
Founder and International Director of Amos Trust (author of Pilgrims and
Peacemakers) (short)
"Once again a Semitic group of people are suffering, particularly
through the racism of Christians - this time it1s the Palestinians.
Stephen Sizer's masterly overview on Christian Zionism shows us how this
appalling fact becomes a reality. Hopefully it will help Christians to
expunge all racism and anti-Semitism (whether against Palestinian or
Jew) from our theology and become the peacemakers Jesus called us to be.
As Stephen traces the history of Christian Zionism, our eyes are opened
to a theology that manipulates and oppresses and shows no dignity or
justice to Jew or Palestinian. It is time for a theology that values all
equally instead of a theology that sees God as biased." Revd Garth
Hewitt, Founder and International Director of the Amos Trust (long)
(author of Pilgrims and Peacemakers)
"Well, that was absolutely fantastic! A thousand thanks for two of the
best hours that I have had at Oak Hill and that the students will have
throughout CD 6.12." Dr David Field, Oak Hill Theological College,
London (author of Taking Sides).
"My Serena and I simply adored your CD, which we listened to on a
journey to Norfolk and back. The miles flew by! I thought it was superb,
crystal clear and challenging and both of us wished it could have been
twice as long. Unpacking the mess is going to be incredibly difficult
and, sadly, the Church seems to be absolutely divided and rather
viciously so on the issues." Charlie Colchester, International Director,
CARE.
"Drawing on history, politics and theology, Stephen Sizer raises the
level of strategic conversation regarding the Middle East crisis. His
book will help leaders in both America and Europe generate
"gamechanging" scenarios for faith to diffuse the doomsday plan created
by a century of Zionism." Jay Gary, ChristianFutures.com (author of The
Star of 2000)
"Stephen Sizer is impressive in his ability to address one of the most
complex issues of our day with an air of ease and simplicity... his
presentations were seminal and exactly what leaders of international
ministries such as ours needed to receive." Timothy R. King, President,
Presence Ministries International, Colorado Springs (author of The
Spirit of Prophecy).
Zionism thesis stirs up a storm
Phil Baty Published: 06 August 2004
http://www.thes.co.uk/current_edition/story.aspx?story_id=2014995
Reverend Stephen Sizer may have expected that his controversial thesis
on Christianity's role in the Middle East conflict would cause a few
ripples.
But the Church of England vicar could hardly have been prepared for the
bitter, personal and very public row it has sparked - with allegations
from both sides that religious and political beliefs have clouded
academic judgements.
Geoffrey Alderman, Middlesex University's former pro vice-chancellor for
quality assurance, this week accused the university of handing a
doctorate to the Anglican vicar for "little more than his own religious
prejudices dressed up in academic guise".
Dr Sizer, vicar of Christ Church in Virginia Water, Surrey, and the
university hit back this week. They accused Professor Alderman, an
Orthodox Jew and leading historian of Judaism, of trying to undermine
the credibility of the thesis because he opposes its arguments.
Dr Sizer's thesis attacks Christian fundamentalists in the US who
unequivocally support the state of Israel and its policies, arguing that
they are one of the "most powerful and destructive forces in America".
Professor Alderman told The Times Higher: "Middlesex has permitted its
highest research degree to be awarded in respect of a work of
propaganda.
If I had been examining it - and I've examined many PhDs - I would have
required extensive revision, including deletion of all passages giving
the author's superfluous personal views and prejudices."
Professor Alderman, a former member of the Board of Deputies of British
Jews, first raised his concerns last month in the Jewish Chronicle. He
cited the wider issue of the Church of England's growing backlash
against the rise of "Christian Zionism", a belief by some Christians
that the restoration of the Jews to Palestine constitutes a divine
mandate.
But the row escalated when Dr Sizer and Middlesex suggested Professor
Alderman was influenced more by his personal political and religious
position than concern for academic standards.
Dr Sizer is one of Britain's leading critics of Christian Zionism. His
website quotes from his PhD thesis, Christian Zionism: Road Map to
Armageddon: "Christian Zionism has become the most powerful and
destructive force at work in America today. Influential in shaping
Western foreign policy on the Middle East, they are not only inciting
hatred between Jews and Muslims but are also the greatest roadblock to
lasting peace in the Middle East."
This week Dr Sizer told The Times Higher that he had not seen the
article in the Jewish Chronicle, but said that Professor Alderman was
"an angry man who has upset a lot of people in various academic
institutions".
"I'm not surprised he has gone for this approach because the simplest
way of undermining criticism of Israel is to undermine the credibility
of those who criticise it," he said. "If you can't disagree
intellectually with someone's arguments, you try to undermine them in
other ways. Those who have taken a stand against the policies of
(Israeli Prime Minister) Sharon have had their credibility questioned."
The thesis was carried out at Oak Hill College, a "biblical training"
college for Church of England vicars, accredited by Middlesex. Dr Sizer
said he did not see himself as an academic, but had a masters with
distinction from Oxford University. "I've got a PhD Middlesex was happy
with - it's not Oxford or Cambridge - but Middlesex was happy and my
examiners gave me a hard time at the viva."
The PhD was examined by Andrew Walker, professor of theology at King's
College London, and Donald Wagner, professor of religion and Middle
Eastern Studies at North Park University in Chicago and executive
director of the Centre for Middle Eastern Studies.
Professor Walker said: "It is strange an academic with strong Zionist
commitments should attack the thesis for its political bias. The
question is not, is it pro-Palestinian, or even a brilliant thesis, but
does it pass muster?
"We are in a bad way if academics attack the academic standard of a
thesis they did not examine and give the impression this is an issue
about standards as if addressed by a neutral observer."
A spokeswoman for Middlesex said: "The role of Middlesex, which
Professor Alderman himself refers to as 'a reputable English university'
was to judge the academic quality of Dr Sizer's doctoral thesis. The
Quality Assurance Agency, in its 2003 institutional audit of Middlesex
University, confirmed its confidence in all the university's
degree-awarding processes."
(9) Groups Defend Plan to Swap IMF Gold for Third World Debt (IPS, Oct
8)
Date: Tue, 12 Oct 2004 09:51:15 +0100 From: "Rowan Berkeley"
<rowan_berkeley@yahoo.co.uk>
FINANCE: Groups Defend Plan to Swap IMF Gold for Third World Debt - by
Paul Weinberg
TORONTO, Oct 8 (IPS) - Objections by Canada, a major gold producer, may
have played a part in the failure of the world's richest countries to
adopt a British proposal to use the proceeds from a revaluing of the
gold reserves of the International Monetary Fund (IMF) to relieve the
debts of the poorest countries.
Canadian civil society groups say that Finance Minister Ralph Goodale
should have been "more cautious" in his response to the informal
proposal floated by the British Chancellor of the Exchequer, Gordon
Brown.
"In responding negatively, what (Canada) was trying to do was reassure
Canadian producers that the signals they got were that the Canadian
government would not support this," says Derek MacCuish, coordinator of
the Social Justice Committee, based in Montreal.
Attending the annual meetings of the IMF in Washington in early October,
Goodale stated that the Canadian government wanted guarantees that any
revaluing of IMF reserves would not harm the gold mining companies.
"We need absolute assurances (that revaluing the gold) should not be
disruptive to the international gold industry or international markets
for gold," the Canadian finance minister told the Toronto Globe and Mail
on Oct. 4. "It must be handled in a way that does not cause disruption
to the gold mining industry."
Brown's proposal did not appear to go anywhere at a gathering where debt
cancellation was also on the table in very different plans outlined by
Britain and the U.S., although no action was taken.
George Milling Stanley, a representative of the New York-based World
Gold Council, an industry group, told IPS that what had been floated
with little detail by Brown "has been discussed in a very minor way
during the recent meetings. But there is no particular proposal on the
table that anybody has shown any interest in following."
Gold producers have indicated that the revaluing of any of the
substantial gold that the IMF holds in reserve, now valued at a fraction
of the current market price of 415 dollars an ounce, would depress the
market price for the metal and hurt their bottom line.
However, Michael Bassett, the coordinator of the Ottawa-based Halifax
Initiative Coalition, an umbrella grouping of Canadian civil society
organisations, believes "the concerns around the gold market are
overblown".
When the IMF revalued about 12.9 million ounces of its gold in 1999 and
2000 -- a process that technically involved the sale of the gold to
Mexico, which was then sold back to the IMF -- "there was no negative
impact on the world gold prices", Bassett told IPS.
At today's gold prices, he added, any revaluation of a slightly higher
amount, 14 million ounces, would yield a net gain of about 5.3 billion
dollars, which is enough to write off the debts owed to the IMF by
countries covered by the Heavily Indebted Poor Countries (HIPC)
programme of the IMF and World Bank.
The Halifax Initiative takes the position that revaluing a portion of
the IMF's total reserves of 103 million ounces of gold is an important
first step towards the overall goal of debt cancellation.
Regarding other debts owed to the World Bank and other multilateral
institutions by these same countries, the Halifax Initiative urged in an
open letter to the Canadian government that World Bank resources,
including loan loss provisions and its retained earnings, could be used
to cover the additional amount owed.
Bassett says that the indebted countries are stuck on a "treadmill"
where they have already paid more than the original amount borrowed from
the international financial institutions and the burden of annual debt
servicing payments are compromising any serious development efforts.
An industry analyst with the Washington-based Earthworks, which focuses
on the impact of mining on communities and the environment, says that
the unloading and sale of gold by various central banks in certain rich
countries, chiefly Britain, Holland and Australia, had a greater
dampening affect on world gold prices than the revaluing done by the
IMF.
Payal Sampat says the gold lobby won an agreement with the central banks
in 1999 "not to unload more than a certain amount of gold". She notes
that this arrangement is likely to continue following renegotiations
this year among the same parties.
But Sampat says that gold is a "relic" from the post-war period when the
gold standard determined the value of national currencies -- a
formulation that ended in 1971.
And she wonders how long public institutions like the central banks can
avoid gaining access to the enormous cash that could be generated
through the sales of the huge amounts of gold now stored in vaults.
At a time when gold is valued at an historic high of 415 dollars an
ounce, Sampat told IPS: "There is more gold, whether it is held by banks
or private investors, or families than has been identified underground."
With the extraction of one ounce of gold generating an average of 79
tonnes of waste, including toxins like sulpheric acid and cyanide, gold
mining also has had a devastating impact on the health and environment
of communities around the world, Sampat adds.
"Gold is possibly the most polluting industry in the world, and 80
percent of all gold is used to make jewelry," she noted.
http://www.ipsnews.net/africa/interna.asp?idnews=25786
--
Peter Myers, 21 Blair St, Watson ACT 2602, Australia ph +61 2 62475187
http://users.cyberone.com.au/myers Mirror:
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