|>In 1974, Munk signed an investment partnership agreement with|
>arms-trafficking billionnaire Adnan Khashoggi of Saudi Arabia, who would
>be a main character in the "Iran-Contra" affair. Accordong to Munk's
>authorized biography, the new alliance was cemented when Munk and
>Khashoggi were summoned to the London headquarters of P&O. There presided
>Lord Inchcape, whose noble predecessor in the 1920s had steered Britain's
>India Commission to continue the Empire's opium production. Inchcape
>convinced Khashoggi to plunge in; and Khashoggi now raised and invested
>most of the cash for the Munk enterprise.
>The first Khashoggi-Munk venture was an attempt to build a 10,000-acre resort
>immediately adjoining the most famous of the Egyptian pyramids. Since the
>scheme threatened to destroy the entire historical/archeological area, it
>evoked mass protest, and could not be forced through. Munk sued the
>of Egypt, and was eventually awarded $17 million by the International Center
>for Settlement of Investment Disputes.
>Munk and his partners, including Saudi princes, formed the Barrick Petroleum
>Corporation in 1980, and dabbled in drilling in the Black Sea, Texas,
>Australia, and elsewhere. The Khashoggi-led international partnership founded
>the Barrick Cold Corporation in 1983.
>Beginning in 1985, Bush ally Adnan Khashoggi borrowed $21 million--using
>his Barrick stock as collateral--for the covert transfer of arms to Iran for
>the Bush-North group. In September 1986, Khashoggi made Donald Fraser, the
>Toronto-based businessman who allegedly provided the loan from his Cayman
>Islands company, president of Khashoggi's Triad American holding company.
>Khashoggi was jailed in New York in 198S, Peter Munk put up the $4 million
>to free his partner.
>As George Bush's Presidential term was ending in 1992, Bush's ambassador to
>Canada, Edward Ney, left the U.S. government and became a director of Barrick
>Gold Corp. Ney chairs the board of advisers of Burson-Marsteller, which has
>recent years owned the Republican Party and intelligence community
>group Black, Manafort and Stone.
>After his resignation in 1993 from his post as Canadian Prime Minister,
>Bush-ally Brian Mulroney joined the Barrick board. Making heavy use of his
>political friendship with Bush, Mulroney travelled to Washington and
>shamelesslly lobbied U.S. Congressmen in a Barrick dispute with the U S.
>Interior Department over Barrick's Goldstrike Mine in Nevada.
>- Members of the Board
>Other members of the Bush-led Barrick advisory board include:
>Esb,Howard Baker, White House chief of staff, 1987-88; Paul G. Desmarais,
>chairman of Power Corp. of Canada and founder of the Canada-China Business
>Council (Desmarais's China connection reportedly got the Bush-led Barrick
>Corp. into its current Xinkiang Province gold-mining operations); A.
>Luksic, Chilean mining operator and pension funds-privatizer; Jose E. Rohm,
>managing director of Banco General de Negocios, a leading bank involved in
>Argentina's privatization. Karl Otto Poehl, former chief of Germany's
>central bank, a monetarist-globalist politically allied to Britain's Prince
>Peter Munk, who brought Goerge Bush into Barrick, is himself a member of
>the 1001 Club'' founded by Prince Philip and The Netherlands'Prince Bernhard.
>The 1001'' comprise a worldwide grouping of aristocrats, bankers, and
>speculators who support the radical post-industrial looting strategy which
Dennis A. Shannon
Department of Agronomy and Soils
202 Funchess Hall
Auburn University, Alabama 36849-5412
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