Wall Street banks have secretly taken over US firearms and ammunition manufacturers and the world’s largest mercenary firms in a stealth build up private military force.
“… The US, under George W Bush, decided to privatise the invasion of Iraq by employing private “contractors” like the Blackwater company, now renamed Xe Services. In 2003 Blackwater won a $27m no-bid contract for guarding Paul Bremer, then head of the Coalition Provisional Authority. For protecting officials in conflict zones since 2004, the company has received more than $320m. And this year the Obama government contracted to pay Xe Services a quarter of a billion dollars for security work in Afghanistan. This is just one of many companies making its profits out of warfare.
In 2000 the Project for the New American Century published a report, Rebuilding America’s Defenses, whose declared aim was to up the spending on defence from 3% to 3.5% or 3.8% of American gross domestic product. In fact it is now running at 4.7% of GDP…”