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Wednesday, 05 September 2012 11:50

Obama Prepares Huge Bailout for Muslim Brotherhood in Egypt

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The Obama administration is close to finalizing a massive $1-billion bailout for the increasingly totalitarian Muslim Brotherhood regime ruling over Egypt, according to U.S. government officials cited in news reports. The move is already drawing fierce criticism from opponents arguing that bailing out the new Islamist ruler, who is already working to bolster Egyptian ties with the communist Chinese dictatorship while becoming increasingly despotic at home, would be a mistake on multiple levels.  

In addition to forgiving the $1 billion in Egyptian government debt, almost a third of its total burden, the administration is also working with the International Monetary Fund (IMF) — largely funded by American taxpayers — to secure a $5-billion loan for the regime. On top of that, U.S. officials are in the process of creating multiple funds and programs worth almost $500 million to help politically connected U.S. and Egyptian businesses.

All of that taxpayer money — presumably to be printed by the Federal Reserve or borrowed from the communist Chinese dictatorship — would be in addition to the regular “security” and “foreign aid” packages. The long-standing U.S. government assistance to Egypt’s rulers, set to continue indefinitely, has amounted to around $1.5 billion annually for the past several decades under the deposed dictatorship of Hosni Mubarak.

The plan to bail out the new Egyptian regime was originally announced over a year ago. However, opposition on Capitol Hill and the prosecution of U.S. government-funded “democracy activists” operating in Egypt had temporarily soured relations between the two governments. It seems the scheme is now back on track.

According to U.S. officials, the massive unconstitutional flows of taxpayer money are meant to encourage the new regime to act how the U.S. federal government wants it to. "Progress will only be possible if the talents of all citizens are drawn upon and all have a voice — men and women, all religious groups, and all parts of the country," U.S. Undersecretary of State Robert Hormats was quoted as saying without specifically noting the worsening plight of Coptic Christians under the new regime.

The security of Israel is also said to be a factor, with supporters of the bailout claiming it will help keep the new Islamist government in check and prevent a potential violation of the Camp David accords. Critics of the move, meanwhile, say it could put the Jewish state in greater danger as the Egyptian government becomes more hostile to its neighbor in line with popular Islamic sentiment within the nation. The Israeli government has reportedly expressed its support for continued U.S. government aid to the Islamist regime.

Proponents of the latest bailout within the administration also claim that the packages are aimed at bolstering Egypt’s fragile economy. Since the Western-backed “revolution” that toppled the former U.S.-backed tyrant, the economic situation has continued to deteriorate, with massive unemployment, surging inflation, and more trouble almost certainly imminent.

Tourists and foreign investors have largely stayed away from Egypt since the unrest began, too. But now, the State Department is preparing to lead a delegation of dozens of politically connected U.S. companies — Boeing, General Electric, Google, Citigroup, and more — to encourage investment in Egypt.

“The United States is working to help relieve Egypt of part of its immediate fiscal and balance-of-payments pressure in support of the Egyptian government’s own, home-grown reform plan,” said Hormats after meeting with Egyptian officials last week. He also noted that the Obama administration was offering almost $500 million in loans and guarantees to Egyptian businesses.

Other bailout supporters believe it could help keep the new Islamist regime within the U.S. government’s sphere of foreign policy-influence. However, newly elected Egyptian President Mohammed Morsi — a radical Islamist from the socialist-oriented Muslim Brotherhood who is under fire for cracking down on the press and his opponents, seizing vast powers for himself, and purging Muslim Brotherhood critics from power — has already shown signs of gravitating away from the West.

Mursi’s first official foreign visit outside of the Middle East, for example, was to Beijing, seeking and obtaining broad support for his government from the brutal communist dictatorship ruling over mainland China. His controversial and increasingly tyrannical administration is also reportedly warming up to the Iranian regime despite the growing hostilities between the U.S. government and Tehran. An assortment of wealthy Islamic dictatorships is also backing Egypt’s new ruler. 

Advocates of the bailout scheme, however, said they expected Mursi and his new government to behave more responsibly going forward — at least if the regime manages to stay on the Obama administration’s payroll. But critics say that is a naïve notion that is bound to result in more problems or potentially even a disaster.

“This view could hardly be more misguided,” observed retired D.C. attorney Paul Mirengoff in an analysis for Power Line. “Arab extremists don’t ‘grow in office’ by becoming more solicitous of the peoples’ welfare. They grow in office by crushing those who oppose them. This reality binds together Arab leaders as otherwise diverse as Saddam Hussein, the Iranian [Persian] mullahs, and the Assads.”

Other critics slammed the notion that the aid was somehow intended to promote “democracy” after the landslide victory for Islamists. “Talk of ‘bolstering the transition to democracy’ are weasel words, because what is really meant here is helping the Brotherhood, the beneficiaries of democracy, stay in power,” noted analyst Daniel Greenfield in FrontPage magazine, blasting the administration’s efforts to prod big American businesses into deals with Egypt as well.

Comparing the latest bailout to U.S. government aid that helped keep the mass-murdering Soviet regime in power, Greenfield also suggested that the Obama administration was hoping to perpetuate the radical Muslim Brotherhood’s domination in Egypt. The Islamist group, of course, is also known for its socialist roots despite its Muslim character.

“Just like the USSR, the Brotherhood expects the West to bail out its regime and stabilize it, while promising stability and a friendly environment,” Greenfield added, pointing out that the looming economic crisis might bring down the Egyptian regime without continued U.S. government assistance. “And then the hammer comes down. History is repeating itself once again.” 

It was not immediately clear where in the Constitution the administration believed it found the authority to bail out foreign governments, or which federal statute purported to authorize the massive wealth transfers. U.S. officials said at least some of the money would be coming from unused funds previously allocated as “foreign aid” to assorted Middle Eastern regimes. 

Of course, as with the vast majority of federal activities today, showering American taxpayer dollars on foreign governments and businesses is not authorized anywhere in the Constitution — in other words, the Obama administration does not have any legitimate power to hand out the people’s money. There are also pragmatic issues cited by opponents of the scheme.

The U.S government, for instance, is borrowing over $1 trillion per year, hardly placing it in a position to continue squandering money propping up and taking down various regimes around the world. Meanwhile, countless studies show foreign aid hurts the people in receiving countries while benefiting only the ruling elite. And numerous factions within Egypt are opposed to continued U.S. government aid as well as the “strings” that come attached to it.

Then there is blowback. It appears that once again, American taxpayers will be financing tyranny in the Middle East. And, as always, there will be consequences. Christians in particular are already facing grave threats in Egypt. If history is any guide, the U.S. government will be creating even more problems by unconstitutionally meddling in the affairs of foreign nations against the advice of the Founding Fathers – not just for Egyptians, but also for the American people and perhaps the world.

Related articles:

After Arab Spring, Fears of Islamist Tyranny Grow in Egypt

Islamist Wins Presidency of Egypt

Egyptian President Calls for Terrorist's Release

Clinton Fends off Shoes, Tomatoes & Charges of Collusion with Muslim Brotherhood

George Soros Allies With the Muslim Brotherhood

Egypt Islamists Win Big in Election, Sparking Fears

Egypt Revolt Leading to Military Dictatorship

Egyptian Regime Kills Dozens of Christian Protesters

Egypt’s Relations With U.S. Strained as Military, Islamists Reign

Christian Massacres: A Result of U.S. Foreign Policy

Photo: Egyptian President Mohammed Morsi speaks to reporters during a joint news conference with Tunisian President Moncef Marzouki, unseen, at the Presidential palace in Cairo, July 13, 2012: AP Images

6 comments

  • Comment Link Gene Hill Wednesday, 05 September 2012 22:10 posted by Gene Hill

    . . .
    This is NOT a very factual analysis . . . of Egypt's almost 90 million citizens, about
    90 % are Muslim, plus the new government in Egypt is the Muslim Brotherhood and the former government bought "toxic" assets from Our very Own wall street firms, so who will the Obama administration deal with or ifMitt Romney is elected, who will his administration deal with , , , the current government of Egypt, the Muslim Brotherhood . . . and do NOT kid yourself, If Mitt Romney is elected his administration will also "loan" U.S. government assets to the new Egyptian government, as the Obama administration will do if re-elected.
    What exactly is the differnence between a Romney "loan" or an Obama "loan" to Egypt? Nothign, as this is just political BS.

  • Comment Link Terry Wednesday, 05 September 2012 19:58 posted by Terry

    Frank, I agree with your comment as it applies to the past, present and future; however, I have to append to that of the fact that Islam plans to hijack all of what the U.N., new world order, global elitists, etc build for our global technology and infrastructures (social, business, academia, and government). One of the generals of the Iranian military has also stated to the Islamic media that is what their intentions are. Let the non-Islamic infidels create everything and then Islam will hijack it all in stealth mode. Islam also plans on becoming the hero in banking as it seeks to replace all non-Islamic banking systems with Islamic ones....after the planet begins to scream and demand something better than all the bail outs and economic collapses. Once that takes place, everyone will be required to convert to Islam in order to buy and sell, have a job, own/rent a home, etc. Evidence of conversion will be a chip implant into the right hand, as the right hand is used to worship in Islam. No chip implant...then you didn't convert.

  • Comment Link Frank M. Pelteson Wednesday, 05 September 2012 18:23 posted by Frank M. Pelteson

    Experienced members of he John Birch Society are familiar with this kind of caper. It is classed under the ever-ongoing Conspiracy to destroy Western Civilization in order to merge America into a one-world socialist police state under the UN. Necessary to accomplish this goal is to destroy the US economy ever more wastefully by surrendering our wealth and sovereignty to the rest of the world, preferably to its worst enemies. Robert Welch described this in his epic 1966 speech, "If your want it Straight, the Truth in Time" at http://www.youtube.com/watch?v=fwjA-Zom-io.

    We need to uinderstand that this has been going on for a long time and will continue for a longer time long after Obama is out of office.

    Do you think it will be any different under Romney? Only fools will think so.

  • Comment Link Terry Wednesday, 05 September 2012 18:00 posted by Terry

    Yeah, some people never learn.......the realities of Islam and how powerful the MBH is, as they dominate all areas of business, academia, and government throughout the world. The Obama-nation that causes desolation has spent the vast majority of his efforts building the Islamic bridge from the Middle East to the United States. Islam seeks, as a minimum, for the United States to become a nation of Islam by 2022. If it misses that mark, no problem as it will continue onward with the same goal.

  • Comment Link Connie Guest Wednesday, 05 September 2012 17:54 posted by Connie Guest

    This is a nightmare overflowing into madness...

  • Comment Link REMant Wednesday, 05 September 2012 14:29 posted by REMant

    Some ppl never learn. It's the Aswan Dam all over again. And since the US is largely responsible for the financial problems leading to the unrest in the region, it behooves us to do something to alleviate it. Better than spending several billion dollars a month to fight there, don't you think?

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