Treasury official outlines plan to bankrupt ISIS

The Hill ^ | 10/01/14 | Rebecca Shabad

[thackney]

A Treasury Department official on Wednesday said the administration is trying to cut off funding to the Islamic State in Iraq and Syria (ISIS) by leveling sanctions against people who do business with the group.

David Cohen, undersecretary for terrorism and financial intelligence at the Treasury Department, said administration officials are on the lookout for people who buy oil from ISIS.

“At some point, there is someone who is purchasing this oil that they're going to refine and try and sell. Those people have relationships with the banking sector. Those are people who we're identifying,” Cohen said on CNN.

“We can apply sanctions against them but we can also message those people and make clear to them the danger that they're putting themselves in,” he added.

Recent reports say ISIS has made $3 million per day in oil sales. Last week, the U.S. bombed oil refineries operated by the group in Syria. Cohen said another way ISIS is funded is through foreign donations, which he said the Treasury Department is working to stop.

Last week, the department imposed sanctions on 11 people and one entity that the administration said has provided financial and other support to ISIS. President Obama has said the administration would work to cut off the group’s financing.

While Cohen said ISIS has “substantial resources in terms of funds,” he said their financing shouldn’t be overestimated.

Host Wolf Blitzer noted estimates say they have hundreds of millions of dollars, but Cohen said he couldn’t provide a specific number.

“I don't have a precise figure to give you, Wolf. And there's no question that is has substantial financial resources,” he said. “But the question really is, will they be able to continue to replenish those resources, will they be able to use those resources, and what can we do to undermine their financial strength.”

[Nervous Tick]

The evil Obola regime has been using their IRS and working with outside pressure groups to screw with and bankrupt conservatives for six years. With all that practice, they ought to be proficient by now.

[thackney]

It’s been reported that ISIS is selling its illegally obtained oil – and presumably oil products – for as little as $25/bbl, which means yesterday’s airstrikes took out approximately 8% of ISIS’ $2 million daily revenue stream (using the higher 500 b/d estimate). If we assume the refined products sold for $50/bbl, the airstrikes then cut 15% of the group’s daily oil business revenue.

http://www.freerepublic.com/focus/f-news/3210237/posts

[Dr. Sivana]

Uh oh ... my sensor has just gone off.

What do you want to bet that the net result of trying to cut money off to the bad guys means invading the privacy of regular U.S. citizens? It started with the War on Drugs, Dead Beat Dads, War on Terror . . . every problem means tracking us more.

[Liz]

ISIS' control of lucrative oil fields in Iraq and Syria means it has tons of money to finance its jihad.

The mention of ISIS' oil wealth makes one wonder if ISIS struck a deal w/ neocon godfather--Richard Perle---who was staring his own oil company in Iraq----according to the WSJ.

==================================================

REFERENCE POINTS---Circa 2008, the WSJ reported neocon Richard Perle was talking with a "Turkish" firm, AK Group International, and also a representative from the government of Kazakhstan.

They are targeting the co-called "K18 concession" which is near the city of Erbil and is estimated to hold 150 million or more barrels of oil.

Houston-based Endeavour International would conduct the exploration and drilling, according to the Journal.

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BACKSTORY During the run-up to the neocons' duping Bush into the Iraq invasion, Perle was chairman of the Defense Policy Board, which advises the US Pentagon. He was also a scholar at the American Enterprise Institute, a conservative think-tank in Washington.

[Buckeye McFrog]

What are we gonna do, slap ‘em with the Alternative Minimum Tax?

[T-Bone Texan]

ISIS got a hold on $500 MILLION in cold, hard, physical US dollars when they overran Mosul.

Wouldn't hold them over for a while?

[thackney]

Depends how they spend it. Did they use it to buy 16 or so mobile oil refineries?

For some Saudis, $500 million is just a weekend in Vegas...

[IYAS9YAS]

And if that doesn't work, then we'll write them a stern letter.

If the letter doesn't work, then we'll petition them to be nice.

If that doesn't work, then we'll invite them here so they'll like us.

[Liz]

David Cohen, undersecretary for terrorism and financial intelligence at the Treasury Department, said administration officials are on the lookout for people who buy oil from ISIS. “At some point, there is someone who is purchasing this oil that they're going to refine and try and sell. Those people have relationships with the banking sector. Those are people who we're identifying,” Cohen said on CNN.

SMOKESCREEN: Cohen is the sacrificial lamb---posing as a naïve babe in the woods. The Obama criminal combine knows all there is to know about the terrorism financing apparat.

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Obama's not merely "not fighting terrorists"---he's financing them and inviting them into our communities....forcing taxpayers to subsidize their evil deeds. Obama used the federal piggy bank to finance jihad.:

<><> $2 billion funding to the Muslim Brotherhood,

<><> $50 million to his Muslim brother's tax-exempt foundation.

<><> The Clintons employed a Muslim Brother at their tax-exempt foundation---knows all the ways to use tax-exempts to money launder.

<><> while the Muslim Brotherhood was in charge in Egypt, Obama and Hillary showered them w/ praise.....and billions of US dollars in aid, arms, tanks and planes.

<><> Muslim money-laundering modalities finance global jihad. The American Freedom Law Center, has been engaged in a long and drawn out lawsuit againstHamas front group, CAIR. Hamas-CAIR has been running a global criminal money laundering operation out of Washington, DC. "The money laundering scheme was discovered in the course of legal discovery in unrelated federal litigation arising out of allegations by five of CAIR's former clients that CAIR defrauded them by failing to provide the legal services they had been promised."

THE MODUS OPERANDI To avoid reporting these millions of dollars from the dubious Islamist sources and to avoid registering as an agent for a foreign sovereign as required by federal law, CAIR created a separate company called CAIR-Foundation, Inc---an IRS-approved 501(c)(3) charitable organization.

CAIR itself quit filing any federal tax returns from 2008-2010 and allowed the IRS to withdraw its status as a 501(c)(4), converting itself to a regular for-profit corporation. CAIR also stopped all of its operations and became simply a holding company, transferring, at least on the books, all of its employee/s and equipment to CAIR Foundation. --snip--

SOURCE http://freedomoutpost.com/2013/09/muslim-brotherhood-hamas-front-group-cair-money-laundering-us-capital/#ixzz2jOgy8k7H

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Kenya-resident, Malik Obama, holds up photo of his half brother
Obama in Muslim dress, taken during Obama's circa 1972 visit.

[John O]

I got a better idea, just kill the moslems!!

[utax]

start assassinating their wealthy donors wherever you find them. the word will get around.

[grania]

please, somebody tell me this is satire. The only way to deal with ISIS is to disintegrate them.

[Ruy Dias de Bivar]

They should have done like the US did Hawaii back in 1942. Under threat of a Jap invasion all money was stamped with the large letters HAWAII. If their had been an invasion and takeover, the money would have been declared non redeemable and been good for only toilet paper.

We should have stamped the words IRAQ or AFGHAN on all moneys sent there. We could have declared it non redeemable and it would have been worth nothing.

[Ruy Dias de Bivar]

link. to overprinted Hawaii dollar bills.
http://en.wikipedia.org/wiki/Hawaii_overprint_note

[Delta Dawn]

Ok, where is the satire tag that is supposed to accompany stories that cannot possibly be true due to pure stupidity...I am wasting valuable time here people!...

[Rusty0604]

Refined oil is returned to ISIS for selling locally, in Iraq and Syria. ISIS also use the oil in their own warfare.

ISIS controls smuggling routes and the crude transported by tankers to Jordan via Anbar province, to Iran via Kurdistan, to Turkey via Mosul, to Syria’s local market and to the Kurdistan region of Iraq, where most of it gets refined locally.

Turkey has turned a blind eye to this and may continue to do so until they come under pressure from the West to close down oil black markets in the country’s south.

http://edition.cnn.com/2014/08/18/business/al-khatteeb-isis-oil-iraq/

[B4Ranch]

Next year, I bet we will be sending them food because ISIS is messing with the plantation of their wheat crop.