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300 THE CREATURE FROM JEKYLL ISLAND THE BEST ENEMY MONEY CAN BUY 301
specific approval of each successive president, we have provided
the latest oil-drilling equipment, chemical processing plants, airtraffic
radar systems, equipment to produce precision bearings,
large-craft helicopter engines, laser technology, highly advanced
computer systems, and nuclear power plants. We have trained
hundreds of their technicians in American institutions and factories
and have provided their astronauts with the space suits developed
by NASA. We have even trained their pilots at U.S. Air Force bases
and paid for their military officers to attend our War College. All of
this has been used by the Russian government—as Lenin predicted
it would—to build their military industry in preparation for an
attack on their suppliers. The great pretense of crumbling Communism,
has not altered that strategy. It may even be the implementation
of it.
ITEM: When Boris Yeltsin seized control of the former Soviet
government, one of his first official acts was to decree that foreign
businesses had the right to take their profits out of the country.
From a purely business perspective, that was a sound move
because it would provide incentive for foreign investment. But
there was more to it than that Recall from a previous chapter that
the lion's share of that investment was to be funded by American
taxpayers in the form of direct aid, bank-loan bailouts, and
government insurance through the Overseas Private Investment
Corporation. Jane Ingraham provides the details:
During 1992 Yeltsin wheeled and dealed with Royal Dutch/Shell,
British Petroleum, Amoco, Texaco, and Exxon. The Chevron joint
venture to develop the Tengiz oil field was signed. McDermott
International, Marathon Oil, and Mitsui signed a contract with the
Russian government to develop oil and natural gas off Sakhalin Island.
Chevron and Oman formed a consortium to build a huge pipeline to
carry crude oil from Kazakhstan to the Black Sea, Mediterranean, and
Persian Gulf. Occidental Petroleum signed a joint venture with Russia
to modernize two oil fields in Siberia.... Newmont mining signed a
joint venture to extract gold in Uzbekistan. Merrill Lynch's chairman,
William Schreyer (CFR), signed up as financial adviser to "aid in
privatizing" the Ukrainian State Property Fund. AT&T CEO Robert
Allen (CFR, TC ) signed a huge contract to supply switching systems
for all of Kazakhstan..
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Trila tera 1 Commission.
US West joined with the Hungarian government to own and
operate a national cellular telephone system; GM Vice President
Marina Whitman (CFR, TC) joined the governments of Hungary and
Yugoslavia to make cars; GE CEO John Welch (CFR) and vice
chairman of the board, Lawrence Bossidy (TC), bought a majority
stake in Hungary's lighting industry; Ralston-Purina, Dow Chemical,
Eastman Kodak, SC Johnson & Son, Xerox, American Express, Procter
& Gamble, Woolworth, Philip Morris, Ford, Compaq
Computer—hardly a single American brand name was missing.
ITEM: In February of 1996, the Clinton Administration made a
$1 billion loan of US taxpayers' money to Russia's state-controlled
Aeroflot company so it could more effectively compete with
American companies such as Boeing in the building of jumbo jets.
By the end of that year, the former Soviet Bloc countries had
received transfusions from the World Bank of over $3 billion.
ITEM: Now the action has spread to China. American banks
and businessmen—with taxpayers standing by with guarantees
have provided power-generating equipment, modern steel mills,
and military hardware including artillery shells, anti-submarine
torpedoes, and high-tech electronic gear to update Russian-made
jet fighters. All of this is explained as a means of weaning the Red
Chinese away from mother Russia and encouraging them to move
closer to free-enterprise capitalism. Yet, in 1985, at the height of the
frenzy over building trade bridges to China, the regime signed a
$14 billion trade pact with Russia and, in 1986, sent a $20 million
interest-free loan to the Communist Sandinistas in Nicaragua. Even
after the 1989 Tiananmen Square massacre in Beijing, when U.S.
officials were publicly condemning China for human-rights violations,
business quietly continued as usual. "The United States
cannot condone the violent attacks and cannot ignore the consequence
for our relationship with China," said President Bush. Yet,
within only a few weeks of the bloodshed, and at the very time that
student leaders were being executed, the Administration approved
a $200 million, low-interest loan for delivery of four of Boeing's
newest jumbo-jet aircraft. In 1993, forty-seven more jetliners were
sold with a projected sale of 800 more over the next fifteen years.
Amoco is spending $1.5 billion to develop oil fields in the China
Sea. A joint venture between the Chinese government and Chrysler
ft "The Payoff/' by Jane H. Ingraham, The New American, June 28, 1993, pp. 25-6.