Concit Ensuring our Future
Concit Ensuring our Future

Oil, Banks and Wahhabism


Franklin Roosevelt took office in 1933, he acted swiftly to try and stabilize the economy and provide jobs and relief to those who were suffering from the 1928 Wall Street crash that had then developed into the “Great Depression”.

In 1932, Congress passed Roosevelt’s Emergency Banking Act, reorganized the banks and closed the ones that were insolvent. The Co-operative Central Bank, a “parent bank,” was created with insurance guarantees placed on depositor’s accounts by Federal Deposit Insurance Corporation—owned by the US Government. People afraid of losing their money began only put their money in those banks associated to the insured “parent bank”. This effectively put all banks under the control of the US Government.


In 1945 US President Roosevelt, met Saudi King Abdul Aziz, to forge an Alliance. Roosevelt wanted to secure the security and wealth of the Saudi oil fields for the US. In exchange the Saudi King only asked one condition of the US “We will take your technology and money but leave our faith alone”—(Wahhabism).

President Roosevelt meets with Saudi King Abdul Aziz to cement oil supply for the US.


1973 Egypt attacks Israel. USA comes to Israel’s assistance and Israel launches a successful counter attack and take over Arab territories. Saudi King Faisal enters into the fray, raises the price of crude oil five times and threatens an oil embargo on the USA unless the US Government uses its influence to ensure that Israel withdraws.

A cease-fire agreement between Israel and Egypt was reached on October 24, 1973. The US dependency on oil and the Saudi government making this stand changed the balance of power in the world.

King Faisal began exporting Wahhabism in the form of Madrassas (religious schools) to places like Pakistan where years later the Taliban and people like Osama Bin Laden would be educated and take the fundamentalist philosophy to Afghanistan and beyond.

On March 25 in 1975, just 17 months after bringing the West to heel, King Faisal was assassinated.

Screen Shot 2015-01-29 at 2.02.01 pm
King Faisal brings Israel and the US to heel by threatening an oil embargo on the USA.


Landmark 3

The money flowing from the West into Saudi Arabia, in the form of Petro dollars gave the banks a new lease of life. The Petro Dollars allowed banks to begin investing outside of the control of US government and grow in power once again lending to anyone for anything. (Also paving the way of Sharia Banking into the West.)

Landmark 4

In 1978 this is a successful socialist revolution in Afghanistan to remove power from the ruling family. The Soviets come to help stabilise the new regime but end up killing new leader and attempt to take power.

The Taliban entrenched in Afghanistan execute their harsh regime of Wahhabism against the invading Russian forces and civilians. They are later joined by Osama Bin Laden. They spread Wahhabism throughout Afghanistan and beyond. The West go in against the Taliban but end up unknowingly supporting the vicious warlords of the pre revolution regime and now corrupt police, putting the entire Afghan population at odds with the West.

bin laden in afghanistan around 1988 s getty images_2050081722-25224
Bin Laden in Afghanistan around 1988’s

Osama Bin Laden goes to Afghanistan. He believes a strike against the US would unite all Muslims and cause a new revolution and future for an Islamic Caliphate and works in with the fundamentalist wahhabist Taliban.

While there he organises 9/11 using Muslims from Saudi Arabia because of ongoing cemented US and Saudi relations.

Al Zarqawi a student of Osama Bin Laden went from Afghanistan to Iraq to start up Al Qaeda in Iraq taking the Wahhabist doctrine and the vision of a global caliphate to eventually gives rise to ISIS even though Al Zarqawi was later killed.

news item on Zarqawi in Iraq.
news item on Zarqawi in Iraq.


Landmark 5

ISIS establishes the Caliphate and begins taking over the oil fields in Iraq and selling oil cheap outside of OPEC to fund their expansion.

US and allies enter the war by supporting local forces to stabilise the region and ensure the continuity of Saudi oil production after threats from ISIS of taking over Saudi oil fields.

While the west continues to portray ISIS as a motly group of mercenaries—the caliphate in effect is gaining structure.

















(The Faces filled in…)


(To be continued)


More Information:

The ISIS organisation

Letter from Al Zarqawi to Osama

When it comes to war…It’s all about the oil (article).

Watch BBC Documentary—Bitter Lake which covers all of the above with footage.

The film reveals the forces that over the past thirty years rose up and undermined the confidence of politics to understand the world. And it shows the strange, dark role that Saudi Arabia has played in this..