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Fox News: The Embedded News Network

Reported by Melanie - November 19, 2004 -

Fox aired a segment today (November 19, 2004) on Your World w/Neil Cavuto about the Iraqi stock market. Cavuto's guest was Jim Rogers, President of Jim Rogers.com. Mr. Rogers insisted Iraq wouldn't be on his list of countries in which to invest as he isn't convinced "this is going to work out," he doesn't "think the country's going to survive," he thinks it'll "probably split up into two or three countries" and that the currency won't be sound. However, he said that Iraqi citizens who invest in their market could become very, very rich or at the least, "own a piece of their country."

Banners at the bottom of the screen informed viewers that the Iraqi market reopened on June 24 after 15 months of "inactivity;" that 589 million shares were traded that day; that the stock market is located in a former Italian restaurant whose walls were fortified with concrete by American troops; that 150 brokers and traders are licensed to practice there; that it's open two days a week; that 13 banks and 70 companies are listed and that Iraq-listed firms have issued 100 billion+ shares of stock.

COMMENT: I thought this was a farcical segment. I seek out Iraq news from sources whose reporters aren't "embedded" (essential if you want the truth) and the reports of an increasingly dangerous Baghdad (yes, it's still getting worse) cause me to imagine the poor "traders" working at the former "Italian restaurant" as bombs are going off across Baghdad, after they've dodged explosing cars on their way to the "stock market." But, if you get your Iraq "news" from Fox News, the embedded news network, this segment probably makes you feel quite good about how things are going in Iraq. After all, wow, they've got a stock market that's up and running. How cool, huh?

I thought I'd mention something here which I found revealing, especially coming from the embedded news network. At one point Rogers said he was trying to sell some Iranian stocks. Interestingly, Cavuto said this: "What if the administration succeeds, in maybe, as some people suspect, getting a blockade of Iran going, would that tempt your money out of there?" I say listen up. Cavuto seemed to be trying to cover his tracks when he said "in maybe, as some people suspect," but I wager a bet that this is the Bush plan, to blockade Iran.