To Make America Bleed Profusely To The Point Of Bankruptcy

To understand the thinking of Al-Qaeda and economics it is important to
review Osama bin Laden's speech released on October 29, 2004, as broadcast
by Al-Sahab Institute for Media Production, which is known to produce
Al-Qa'ida's video messages. The translation is given at Memri Special
Dispatch Series - No. 811 November 5, 2004 No.811: The Full Version of Osama
bin Laden's Speech
<'%20target=> .
'As previously mentioned, it was easy for us to provoke this administration
and to drag it [after us]. It was enough for us to send two Jihad fighters
to the farthest east to hoist a rag on which 'Al-Qa'ida' was written -- that
was enough to cause generals to rush off to this place, thereby causing
America human and financial and political losses, without it accomplishing
anything worthy of mention, apart from giving business to [the generals']
private corporations. Besides, we gained experience in guerilla warfare and
in conducting a war of attrition in our fight with the iniquitous, great
power, that is, when we conducted a war of attrition against Russia with
Jihad fighters for 10 years until they went bankrupt, with Allah's grace; as
a result, they were forced to withdraw in defeat, all praise and thanks to
Allah. We are continuing in the same policy -- to make America bleed
profusely to the point of bankruptcy, Allah willing. And that is not too
difficult for Allah.' [Emphasis added]
'Whoever says that Al-Qa'ida triumphed over the White House administration,
or that the White House administration lost this war -- this is not entirely
accurate, for if we look carefully at the results, it is impossible to say
that Al-Qa'ida is the only cause for these amazing gains. The White House
policy, which strove to open war fronts so as to give business to their
various corporations -- be they in the field of armament, of oil, or of
construction -- also helped in accomplishing these astonishing achievements
for Al-Qa'ida. It appeared to some analysts and diplomats as though we and
the White House play as one team to score a goal against the United States
of America, even though our intentions differ. Such ideas, and some others,
were pointed out by a British diplomat in the course of a lecture at the
Royal Institute for International Affairs; for example, that Al-Qa'ida spent
$500,000 on the event [9/11] while America lost in the event and its
subsequent effects more than 500 billion dollars; that is to say that each
of Al-Qa'ida's dollars defeated one million American dollars, thanks to
Allah's grace. This is in addition to the fact that America lost a large
number of jobs, and as for the [federal] deficit, it lost a record number
estimated at a trillion dollars.'
'Even more serious for America is the fact that the Jihad fighters have
recently forced Bush to resort to an emergency budget in order to continue
the fighting in Afghanistan and in Iraq, which proves the success of the
plan of bleeding [America] to the point of bankruptcy, Allah willing.'
In the Financial Times article on September 28, 2006 by Alex Barker and
Stephen Fidler, World military forces face overstretch
=> , they discuss the severity of meeting the needs of military action
Military analysts are talking of overstretch in the world's largest
military: the US has more than 140,000 troops in Iraq at least into next
year, and 20,000 in Afghanistan. But the word is now being widely used
Jeremy Black, a professor of history at the University of Exeter, says
Britain's forces are overstretched. 'There has been a mismatch between
[government] aspirations and the ability to execute,' he says.
Senior military officers describe the UK military as stretched by
commitments that include 8,500 troops in Iraq and the Gulf, 5,600 in
Afghanistan and 8,500 in Northern Ireland. The new chief of the army last
month described it as 'running hot' and a quarter of the 102,000-strong army
was deployed on operations and other military tasks, according to a July
parliamentary report.
In my recent article: Structural Changes -- Destruction Of The U.S. Dollar
et=>  I discussed the potential impact on the economy. Martin Wolf in the
editorial in the Financial Times of September 27, 2006 America could slow
down the world
=>  continues the analysis; 'In particular, a combination of weakening US
demand, a tumbling dollar, intractable inflation and a bout of protectionism
may threaten our happy story.'
'At present, perhaps one-seventh of the rest of the world's gross savings
(and a higher proportion of its net savings) are being absorbed by the US
current-account deficit. This excess of savings over investment in the rest
of the world is not the result of high US or global real interest rates. On
the contrary, real interest rates are astonishingly low. The rest of the
world's surplus savings and consequent demand for US assets are driving the
US current account deficits, rather than the other way round.'
Financial events and oil price are significant in war to maintain freedom
and liberty.

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