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SOROS CALLS FOR MONITORING IRAQ'S OIL REVENUES
DeutschePresse via bloomberg no url | 5/20/3

Posted on 05/20/2003 11:48:18 AM PDT by NativeNewYorker

New York (dpa) - Concerned that Iraq's oil might fall under the control of U.S.-led coalition forces, financier and philanthropist Georges Soros on Tuesday launched an ``Iraq Revenue Watch'' to ensure that the Iraqi people will benefit from their own resources.

Soros said at U.N. headquarters in New York that Iraq Revenue Watch will monitor the defeated country's oil industry, which should be managed ``with the highest standards of transparency and that the benefits of national oil wealth flow to the people of Iraq''.

Soros, who made a fortune from foreign currency trading, is well known in Eastern and Central Europe and Central Asia for his humanitarian programmes, which are managed by his New York-based ``Open Society Institute''.

The institute has criticized oil-rich countries like Nigeria and Venezuela for squandering their natural resources and for the lack of proper stewardship, which has often led to political abuses, corruption and a failure to raise living standards.

The institute has called on the United States to set up rules to ensure complete transparency in using Iraq's oil to benefit the Iraqi people.

Soros called on the U.N. Security Council to modify the latest draft of a resolution written by the U.S. and Britain to give an explicit and important role to the U.N. and to define the responsibilities of those two countries as the occupying powers in Iraq. He said at a press conference at U.N. headquarters that the revised draft was still too vague on the U.N. role.

``If approved (by the council), the resolution ... would establish an indefinite American protectorate of Iraq sanctioned by the United Nations and paid for by Iraq's oil revenues,'' the Open Society Institute said in a press statement.

``It would also undermine international law,'' the statement said. ``The U.N. and the secretary-general should be given a more substantial role in Iraq.''


TOPICS: Foreign Affairs
KEYWORDS: iraq; oil; soros
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1 posted on 05/20/2003 11:48:19 AM PDT by NativeNewYorker
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To: NativeNewYorker
Soros called on the U.N. Security Council to modify the latest draft of a resolution written by the U.S. and Britain

Give some guy a bunch of money and he thinks he's important. LOL! (What country does he represent?)

2 posted on 05/20/2003 11:50:46 AM PDT by Mister Baredog ((They wanted to kill 50,000 of us on 9/11, we will never forget!))
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To: NativeNewYorker
``It would also undermine international law,

The concept of "international law" is clear as MUD.

3 posted on 05/20/2003 11:51:54 AM PDT by Mister Baredog ((They wanted to kill 50,000 of us on 9/11, we will never forget!))
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To: Mister Baredog
He owns his own country!

OF course he should pay 5% of his wealth to the US.

Otherwise we cant guarentee his safety...
4 posted on 05/20/2003 11:54:02 AM PDT by fooman (Get real with Kim Jung Mentally Ill about proliferation)
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To: NativeNewYorker
Well, well, the sugar daddy for the pro-drug movement in the US is basically against the lifting of UN sanctions.

What else is new. The Libertrians on FR will still say that it doesn't matter what their sugar daddy says.

5 posted on 05/20/2003 11:57:39 AM PDT by Dane
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To: NativeNewYorker
Let the UN give back the $20 to $40 billion dollars it stole from the Iraqi oil for food program before they are allowed any further contact with Iraqi oil. The same for the French, Russians, and Germans.
6 posted on 05/20/2003 11:57:47 AM PDT by Cicero (Marcus Tullius)
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To: NativeNewYorker
Soros said at U.N. headquarters in New York that Iraq Revenue Watch will monitor the defeated country's oil industry, which should be managed ``with the highest standards of transparency and that the benefits of national oil wealth flow to the people of Iraq''.

If we let Kofi have his 2% skimmed off the top like he had on the "Oil for food" program, will he go away?

7 posted on 05/20/2003 11:57:49 AM PDT by KarlInOhio (Paranoia is when you realize that tin foil hats just focus the mind control beams.)
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To: Dane; habs4ever; ken5050
This is the first time I can recall Soros taking a very public stance athwart stated US national defense policy.
8 posted on 05/20/2003 11:59:37 AM PDT by NativeNewYorker (Freepin' Jew Boy)
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To: KarlInOhio
Seriously. Georgieporgy is concerned about the integrity of the U.S., but not the waste, fraud, and abuse of the U.N. Give me a break....
9 posted on 05/20/2003 11:59:56 AM PDT by anniegetyourgun
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To: NativeNewYorker; anniegetyourgun
Man, oh man..if only Nixon was running the IRS today..
10 posted on 05/20/2003 12:04:56 PM PDT by ken5050
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To: Mister Baredog
Give some guy a bunch of money and he thinks he's important. LOL! (What country does he represent?)

'I have always harboured an exaggerated view of my self-importance. I fancied myself as some kind of god or an economic reformer like Keynes, or, even better, like Einstein.' - George Soros

11 posted on 05/20/2003 12:06:08 PM PDT by AdamSelene235 (Like all the jolly good fellows, I drink my whiskey clear....)
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To: ken5050
IIRC, Nixon THREATENED to use the IRS against foes, and failed. DIRT ex-POTUS actually DID use the IRS repeatedly, against enemies.
12 posted on 05/20/2003 12:06:32 PM PDT by NativeNewYorker (Freepin' Jew Boy)
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To: KarlInOhio
George should visit my friends in Thailand, with a quick side trip to Malaysia and discuss the highest standards of transparency vis-a-vis his investment funds. Talk about a rock thrower who lives in a glass house.
13 posted on 05/20/2003 12:09:48 PM PDT by JimSEA
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To: Dane
What else is new. The Libertrians on FR will still say that it doesn't matter what their sugar daddy says.

Soros is also anti-gun and fancies himself the next Keynes. He has far more in common with Keynesians like Bush's economic advisor, Mankiw, than with libertarians.

14 posted on 05/20/2003 12:12:35 PM PDT by AdamSelene235 (Like all the jolly good fellows, I drink my whiskey clear....)
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To: AdamSelene235
Soros is also anti-gun and fancies himself the next Keynes. He has far more in common with Keynesians like Bush's economic advisor, Mankiw, than with libertarians.

Soros is the main money bags for the pro-drug movement in the US, no doubt about that.

Oh well, the Libertarian denial goes on.

15 posted on 05/20/2003 12:15:57 PM PDT by Dane
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To: NativeNewYorker
What's his cut?

And is this his leverage to make the US accede to the "UN"?

http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=1&u=/nm/20030520/bs_nm/markets_forex_soros_dc

Soros Says He's Selling the Dollar

NEW YORK (Reuters) - Billionaire investor George Soros, in an interview with cable television station CNBC on Tuesday, said he was selling the dollar against most major currencies.


In the wide-ranging interview in which he assailed the Bush administration's policies, Soros said he was buying the euro and the currencies of Australia, Canada and New Zealand against the dollar, as well as gold. The euro briefly broke above $1.17 following his comments before retreating.


"I have to disclose that I now have a short position against the dollar because I listen to what the Secretary of the Treasury is telling me," Soros said in the interview. He referred to recent remarks made by U.S. Treasury Secretary John Snow that signaled a shift away from a strong dollar policy.


Soros was sharply critical of Snow's policy shift, branding it a "mistake," and labeling it a wrongheaded attempt to stimulate the U.S. economy at the expense of other economies.


"It's a beggar-thy-neighbor policy," he said. "I think (Snow) was somewhat irresponsible by talking down the dollar."


Soros was dubbed "The Man who broke the Bank of England" for his role in amassing bets that the pound would fall in 1992 -- thus facilitating Britain's ejection from Europe's exchange rate mechanism that year.


Though analysts say Soros' influence in markets has waned, many are reluctant to fight the trend that has seen the dollar fall sharply against major currencies.


With the dollar already under pressure, traders sent the euro above $1.17 , a fraction of a cent from Monday's four year high at $1.1738 -- a hair below the single currency's launch price. Gold, meanwhile, set a three-month high at $370 an ounce.


The Canadian dollar held a six-year high against its U.S. counterpart, trading near C$1.3476 , or 74.21 U.S. cents.




16 posted on 05/20/2003 12:21:44 PM PDT by Shermy
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To: Dane
Oh well, the Libertarian denial goes on.

Yep, I deny that Soros is a Libertarian. Like many Republicans he supports the Assault Weapons Ban and Keynesian economics.

Marijuana is not much more difficult to obtain than beer. The reason for this is that a liquor store selling beer to a minor stands to lose its liquor license. Marijuana salesmen don´t have expensive overheads, and so are not easily punished. -William F. Buckley, JR.

I suppose you consider Buckley a libertarian as well.

17 posted on 05/20/2003 12:24:49 PM PDT by AdamSelene235 (Like all the jolly good fellows, I drink my whiskey clear....)
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To: NativeNewYorker
Soros, newbie American who made his money on foreign exchange markets, hates this country.
18 posted on 05/20/2003 12:25:50 PM PDT by aculeus
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To: Shermy
What's his cut?

...just having that conversation with someone right now!

19 posted on 05/20/2003 12:28:03 PM PDT by NativeNewYorker (Freepin' Jew Boy)
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To: Dane; MrLeRoy; vin-one; philman_36
Well, well, the sugar daddy for the pro-drug movement in the US is basically against the lifting of UN sanctions. What else is new. The Libertrians on FR will still say that it doesn't matter what their sugar daddy says.

Louis Farrakhan supports the War on Drugs. Does that make him your sugar daddy?

20 posted on 05/20/2003 12:28:04 PM PDT by jmc813 (After two years of FReeping, I've finally created a profile page. Check it out!)
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