Wayne Madsen
February 20, 2016
© Photo: Public domain

Nothing says globalization more than the US Department of Treasury’s dubious Office of Foreign Assets Control (OFAC). This international financial collection agency has become a «hard power» arm of America’s neoconservative foreign policy, an agency that seeks to shake down money and other assets from foreign officials and businessmen who dare challenge the supremacy of the United States.

The placement of a number of pro-Israeli neoconservatives at the helm of OFAC has also made the office a virtual tool of Israeli foreign policy and intelligence. OFAC has been at the forefront of prosecuting Americans and others for violating sanctions against Iran, Bashar al-Assad’s government of Syria, Lebanon’s Hezbollah political party, Hamas in Palestine, Muammar Gaddafi’s government of Libya, Saddam Hussein’s Iraq, the government of Omar al-Bashir of Sudan, and other foes of Israel. However, none of these Israeli targets are necessarily enemies of the United States.

OFAC was born as the Treasury Department’s Division of Foreign Assets Control in 1950 during the throes of the early Cold War era when the Harry Truman administration wanted to prosecute companies and indiv