Thursday, November 11, 2004

Osama Bin Ladens Recent Speech on Aljazeera

I have just finished reading the transcript of Osama Bin LAden's speech as published on Aljazeera.
I would recommend all Americans, Australians and British people read it.
Understand the man's intentions and motives and maybe research the interviews he had with various journalists as referred to in the speech.

While I think I understand his point of view, I still believe that the war on Iraq was necessary from the perspective of removing Saddam Hussein but I don't see the ongoing conflictit as necessary.
I have understood economically all along that the "war on terror" in both Afghanistan and Iraq has actually been about control of oil resources. In fact the war on Iraq was primarily started because the USA lost control of Afghanistan's oil to the Russians when the Northern Alliance jumped in ahead of them. Specifically control of pipe lines from the Caspian Sea. (World Press has some great articles about this.)

Any economic student of the Austrian school of thought understands that the massive expansion of the money supply will eventually end in collapse.
How soon before America bankrupts itself and thuis achieves Osama's goal. I have read articles in Time magazine suggesting the same thing. Already its dollar has weakened, and the war is a necessary economic (although artificial and temporary) attempt to boost a failing economy. However it cannot be sustained and the inevitable collapse after the war ends could result in hundreds of thousands of job losses, massive hikes in interest rates and spiralling inflation.

All that said and done I don't condone Osama's use of violence, but I think I maybe see his point of view.