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IPFS News Link • Economy - International

Sinking the Petrodollar in the Persian Gulf

by Pepe Escobar and Tom Engelhardt, January 18, 2012

These days, with a crisis atmosphere growing in the Persian Gulf, a little history lesson about the U.S. and Iran might be just what the doctor ordered. Here, then, are a few high- (or low-) lights from their relationship over the last half-century-plus:

Summer 1953: The CIA and British intelligence hatch a plot for a coup that overthrows a democratically elected government in Iran intent on nationalizing that country’s oil industry. In its place, they put an autocrat, the young shah of Iran, and his soon-to-be feared secret police. He runs the country as his repressive fiefdom for a quarter-century, becoming Washington’s “bulwark” in the Persian Gulf — until overthrown in 1979 by a home-grown revolutionary movement, which ushers in the rule of Ayatollah Khomeini and the mullahs. While Khomeini & Co. were hardly Washington’s men, thanks to that 1953 coup they were, in a sense, its own political offspring. In other words, the fatal decision to overthrow a popular democratic government shaped the Iranian world Washington now loathes, and even then oil was at the bottom of things.


1 Comments in Response to

Comment by David Jackson
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Just shut up! Better yet, GTH! None of this is new. It's what the slugs in D.C. do! Sadly, the world pays heavily for their lunacy and ineptitude.

When in anyone's memory has "Washington" not been full of s--- and so incompetent as to not be caught "off guard"? I suggest that, if it's not time to quit staffing the Beltway with Ivy Leaguers, then someone ought to take a hard look at what the "Weed Factories" are teaching and who, if anyone, is actually able to be teaching.

Let's not forget that all of this is about the "New ommon Era":  The most common of men and women doing the most common of things and being rewarded - even if they reward themselves. Of course, it's ultimately about posturing and pretending to be somebody, while raping and robbing the world's economy for "personal" benefit.