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But then again, talking of rapacity, the Arabs spent $84bn underwriting the Anglo-American operation against Saddam in 1990-91 – three times what Fahd gave to Saddam for the Iran war – and the Saudi share alone came to $27.5bn. In all, the Arabs sustained a loss of $620bn because of the 1990 Iraqi invasion of Kuwait – almost all of which was paid over to the United States and its allies. Washington was complaining in August 1991 that Saudi Arabia and Kuwait still owed $7.5bn. Western wars in the Middle East, it seemed, could be fought for profit as well as victory. Maybe Iraq could have brought us more treasure if it hadn't ended in disaster. At least it would help to have paid for America's constant infusion of cash to Israel's disastrous wars.

According to Israeli historian Illan Pappé, since 1949, the US has passed to Israel more than $100bn in grants and $10bn in special loans – more than Washington hands out to North Africa, South America and the Caribbean. Over the past 20 years, $5.5bn has been given to Israel for military purchases. But for sheer self-abuse, it's necessary to read of the Midas-like losses in the entire Middle East since just 1991 – an estimated $12,000,000,000,000. Yup, that's a cool $12trn and, if you don't believe me, take a look at an unassuming little booklet that the "Strategic Fortnight Group" published not long ago. Its statistic caught a few headlines, but was then largely ... >>>