From: harelb@math.cornell.edu (Harel Barzilai)
Subject: Secret Loans: Transcripts Available by Email
Originator: daemon@pencil.cs.missouri.edu
Organization: misc.activism.progressive on UseNet ; ACTIV-L@UMCVMB
Date: Tue, 21 Jul 1992 08:58:59 GMT

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Date: Thu, 16 Jul 92 10:38:39 PDT
From: Jackie Hulme <cadwallader@igc.org>
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Banca Nazionale del Lavoro - basic reading for those 
interested in Arms Control and alarmed by exponential 
proliferation of nuclear and conventional weapons. THESE 
TRANSCRIPTS OF THE CONGRESSIONAL RECORD (annotated and 
updated) ARE AVAILABLE BY REQUEST FROM 
"cadwallader@igc.org". They are long, and you might want 
to download directly to a diskette.

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Congressional Record - House - February 21, 1991
H 1113 - GONZALEZ

Request: 684 
Details weaknesses in US banking oversight. Foreign 
deposits of half a trillion (1991) are held in foreign 
banks in the US and FDIC INSURED.
George Schultz warns to Bechtel to get out of Iraq.
Executive branch withholding documents vital to 
understanding the workings of foreign banks. Bank of 
Italy involved. Foreign journalists and parliaments 
provide Gonzalez with documents which US administration 
withholds. Congressional lawsuit with the State of 
Illinois.

Congressional Record - House - April 25, 1991
H 2551 - GONZALEZ

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      M a r c h   2 ,   1 9 9 2       H   8 5 8
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(Documents placed in the Record by Rep. Gonzalez are 
posted to <gn.armstrade> conference, under the title 
*Secrets of State*. 

My reading of these documents is as follows: The idea
of making free money available to Saddam grew out of
the Cowboy mentality in the White House basement and
in the Oval Office. As usual, facts and reality
created serious problems, since the policy was
tailored to meet the needs of Arms Producers and the
profitability concerns of risk-averse industrialists.

Democratic debate would have scotched these
marvellous opportunities for bottom-line
accumulations of tax revenues in private hands. Over
two hundred US corporations were involved - all
receiving financing through BNL-Atlanta Branch. That
all these corporations obtained letters of credit for
export of US goods through a funny little backwater
bank is an extremely peculiar situation, and ought to
have alerted regulators within six months of the
start of operations.
It probably did.
As facts began to accumulate and lower-level Government 
employees became nervous, and then outraged, efforts 
were made to calm their fears. When this didn't work, 
the status of the <loan program> was reviewed.
        At this point in the documents - meeting between 
Baker and Tariq Aziz (1989), it becomes clear to the 
observer that our State Department and other government 
officials were being blackmailed by Saddam. His strategy 
was two-pronged: first, he would unilaterally reschedule 
(doublespeak for DEFAULT) unless further funds were made 
available to him. From the new funds he paid his 
previous loan. This is a PONZI scheme.
Second, the threat of disclosure of the amounts to which 
he had already had access was an extremely unpleasant 
prospect for those who had been flushing money out the 
door since 1984. There is a degree of uncertainty about 
exactly how much NEW money was made available to Saddam. 
Loans and squirrelled amounts are about five billion 
dollars, although the March 2 documents posted to the 
conference speak of one billion. This speaks volumes 
about the degree of awareness of the authors of the 
documents.
It was the very last opportunity to make the whole mess 
public, and to use the democratic process to put an end 
to Saddam's weapons buildup, his nuclear program -  of 
which the administration (particularly the Commerce 
Department) was well aware - and stop the haemmoraging 
of US taxpayer funds.
All these opportunities were strenuously resisted, and 
the rest is bloody history.

War is the pursuit of failed policies by lethal means.

March 3, 1992   H 924

March 9, 1992   H 1107

March 16, 1992   H 1274

March 24, 1992  H 1681

March 30, 1992    H 2005

April 8, 1992   H 2425

April 28, 1992   H 2694

May 4, 1992   H 2889

May 18, 1992   H 3366

        The Sorcerer's Apprentice theory of Statecraft is 
the regime under which we are presently operating.

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Request: 652 and 672.
Details associations between Kissinger Associates, Brent 
Scowcroft, Lawrence Eagleburger and the BNL.
Dealings between US businesses with Iraq through a 
Business Forum run by Marshall Wiley.
Lawrence Eagleburger's connections with the Yugo, and 
the Yugoslavian Agrokommerc scandal, arms dealers. The 
Yugoslavian banking scandal. General Motors, Eaton 
Corporation. Mack Truck, etc.

Cngressional Record - House - May 9, 1991
H 2934 - GONZALEZ

Request: 685
US export credits and agricultural loans may have funded 
Iraq's purchase of SOVIET military hardware, even as the 
Cold War sputtered out. Dissertation on international 
banking and the credentials of US-installed Panamanian 
leaders who relaced Manuel Noriega. Only extensive fraud 
at the Atlanta office of BNL made all this possible.  
Lack of cooperation by Federal Reserve. Falsification of 
detailed records necessary for the maintainance of 
unsecured, unapproved loans of US Treasury revenues: 
this is theft. Itemization of Soviet military hardware, 
cost, Iraqi weapons expenditure. Dissertation on US 
Foreign policy.
Dissertation on the Assassination of a Federal district 
judge by Organized crime, and mention of the 
Assassination of President Kennedy.
Drug trade requires high-level protection to flourish.
British use of Chemical weapons in 1923 authorized by 
Winston Churchill. German firms involved; prosecuted.
Department of Defense can't convince the NSC that Saddam 
was dangerous - 1987 meeting.

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There are twelve in the series, and transcribing will 
continue, under the influence of the theory that 
curiosity and outrage are tools for change.
February 4, 1991  H 845

May 2, 1991   H 2762


February 23, 1992  H 206 
Contains important information for those tracking the 
workings of the armstrade.

February 24, 1992 H 513

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