Saturday, December 19, 2015
Extracts from the latest issue of the Bloomberg Businessweek:
That topic THE FUNDING OF THE ISLAMIC STATE. THIS SEEMS TO BE A HOT TOPIC!
"It's More Than Just Oil."
"So far, U.S. efforts to cut off Islamic State's funds have failed. here's why" By Cam Simpson and Matthew Phillips.
"Weeks before the attacks that killed 129 people in Paris, U.S. warplanes resumed sorties above Syria and Iraq, targeting anew oil fields and other parts of the vast petroleum infrastructure that fuels - - and funds - - [the ]Islamic State"
"These air strikes were launched not because U.S. officials were prescient. They came after the Obama administration found and quietly fixed a colossal miscalculation. U.S. intelligence had grossly overestimated the damage they'd inflicted during air strikes on the militants' oil production apparatus last year"
"[the] Islamic State has resources beyond crude - - from selling sex slaves to ransoming hostages to plundering stolen farmland - - that can likely keep it fighting for years"
Sources of income in addition to oil as previously described and including:
* Looted antiquities.
* Stolen cash from banks in Mosul.
"Arguably the least appreciate resource of [the] Islamic State is its fertile farms. Before even starting the engine of a single tractor, the group is believed to have grabbed as much as $200 million [USD] in wheat from Iraqi silos alone."
To conclude the Bloomberg article:
"the group's real financial strength is its fanatical spending discipline."
[Bloomberg states the number of fighters in the ranks of ISIL to be 100,000 their payroll financed merely by oil revenues alone!!]
WITH REGARD TO CASH AND FINANCING OF ISIL WE ARE NOT EVEN INCLUDING DRUG MONEY, THE MANUFACTURE AND SALE OF ILLEGAL PHARMACEUTICALS OR THE DISTRIBUTION OF HEROIN FROM THE AFGHAN POPPY CROP!!
OH MY! Anything else anyone?