THE WEEK THAT JUST WAS

Vol. 1. No. 1. (to November 1, 1998)

BB=Bilderberger CFR=Council on Foreign Relations RS=Rhodes Scholar TC=Trilateralist

MOTHER EARTH WORSHIPERS SURFACE -- HUMAN RIGHTS FOR APES PROPOSED

The latter part of October 1998 introduced the "Earth Liberation Front." Last week, according to the Christian Science Monitor, seven early morning fires caused $12 million dollars of damage at Vail Colorado. This may just be the beginning. The ski expansion threatens a possible lynx habitat. The ELF communique read: \'93We will be back if this greedy corporation continues to trespass into wild and unroaded areas." In June 1998 eco-vandals in Wyoming snipped 260 sections of barbed-wire fence in retaliation for cattle grazing on public lands. In southern New Mexico, cattle were recently gunned down by AK-47-totting earth radicals. Milton Kleg, a professor of sociology at the University of Denver, stated: "One act in itself doesn't" indicate, necessarily, an escalation." he added: "To me, when they start killing people, that would be a real escalation." In same news broadcast that began with the ELF, a study of monkeys was reported from Columbia University that said man is not so special since monkeys can also be taught to count. A Michigan mink rancher recovered most of his 5,000 minks liberated on October 26 by the ELF. "As corporate destroyers burn in the west, wildlife nations will be liberated in the north," said an ELF statement.

PLANET OF THE APES

The Great Ape Project of New Zealand is asking parliament to grant human rights to apes in an animal welfare law. Those who grow up in a country that no longer holds out any prospect for significant private land ownership have gone for the idea that they should serve as storm troopers of the planet to make sure that those who still own something will be increasingly unable to enjoy it. When arson is seen as an appropriate means to get even with the rich resort owners, this is an indication of how violent the times ahead will be on the part of the now surfacing radical environmental

INVESTMENT BANKER HOLBROOKE MOVES TO CYPRUS -- SERBS STILL MAY BE BOMBED AND INVADED BY NATO

(BB/CFR/TC ) went from negotiating with the Slobodan Milosevic to mediating in Cyprus (Russia has been supplying missiles for defending the island). The U.S. has spent $10 billion so far in the occupation of Bosnia. President Clinton said that the military option in the Balkans still exists.

MAJOR BANKRUPTCY GETS ONLY SMALL MENTION

Creamie Mae went bust. But barely a whisper in the news about it.

HEAVY HITTING LICENSE RESTORED

Tyson will box (and bite?) again.

BAILOUTS GOOD FOR MARKET?

Since 1982 the market has tended to be an excellent buy "around a major bailout."

TV NETWORKS MAY BE UP FOR GRABS

CBS had executive shakeup from Jordan to veteran broadcaster. Edgar Bronfman is one of the potential buyers (CBS lacks a factory-studio). There is a new "witch" show -- Aaron Spelling has a "Midas touch." GE may also sell NBC. Toughest season in years. The three networks now have 50% of the TV audience (down from 90% at one time). $15 billion sales price for NBC? FOX does have a factory but no cable distribution. Free TV may no longer be free soon.

NO MORE CAR DEALS WILL FREE FROM HASSLES

Republic is gobbling up car dealerships and is offering: "No haggle, no hassle" single no-negotiation deals. The CEO of Republic, Huizenga, says he has $8 billion in the pipeline. It's illegal to sell a new car except through a local licensed car dealer.

IMF TOLD TO GIVE DEFAULTERS STILL MORE MONEY

In an October 6, 1998 column, Pat Buchanan said that the IMF exists to protect investors not developing countries. In a closed speech, Treasury Secretary Robert E. Rubin (BB) told the IMF it was O.K. to go back and make more loans to countries that had defaulted on their debts. A front page story in the L.A. Times last month quoted Anatoly Chubais as admitting he "conned" the IMF about Russia It's condition to gain the $20 billion bailout last year. Buchanan ended his column: "They didn't share their winnings with us, so why should we share their losses with them?"

RUSSIA -- TSAR PROPOSED AFTER IMF SAYS "NO" TO MORE MONEY

Former Finance Minister Alexander Livshits called for a "financial tsar" in Russia. Meanwhile Yetsin (who still has the nuclear briefcase of 22,000 weapons) is on vacation in the Black Sea resort of Sochi while ex-KGB and ex-communist Primakov runs the country. The IMF spent ten days in Russia but left without approving the release of $4.3 billion that was promised in June. Russia has $17 billion in external debt repayment due next year and has just passed an economic recovery plan that Primakov said would strengthen the regulatory role of the state. Taxes will have to be paid and the "shadow economy" will be stamped out. George Soros (BB/CFR) has shut down two of his eight funds after losing $2 billion in Russia. His management will move from London to New York.

FAT AMERICANS SHOULD GIVE RUSSIANS GRAIN AND MONEY

In Kansas it rained corn which is filling up silos. Russia is begging for grain in view of the record U.S. surplus. But some say Moscow would rather have more money. Ike said to sell them anything they can't shoot back. PBS will feature a close look at "Fat America" on November 3.

BAD BRAZIL BAILOUT

Jeffrey Sachs of Harvard said the IMF Brazil bailout will just bring more problems. The real problem is too strong a currency. Brazil needs a roll-over. Sachs said a $22 billion IMF bailout lasted only three weeks in Russia due the over-valued ruble. Reserves in Brazil fell by $30 billion as investors fled despite interest rates on national bonds of up to 50%. Brazil had $44 billion in the bank and $70 billion in debts that were due on Halloween. The IMF is bailing out the politicians and the Western banks. A $7 billion loan to Brazil will come from the Economic Stabilization Fund (funded by Congress but controlled by the President and the Secretary of the Treasury).

U.S. STEEL JOBS DOWN -- SILICON VALLEY IMPORTS ENGINEERS

As the U.S. served as the world's steel dumping ground, the 1998 U.S. trade deficit is estimated to total $299 billion. The number of steel jobs in the U.S. has declined from 500,000 to 170,000. The IMF likes the steel dumping because it raises the dollars needed by indebted "developing countries" who must repay IMF loans. The number of foreign engineers in Silicon Valley is expected to double due to loosening of immigration laws

MIDDLE EAST--DISARMING BEGINS OF ARABS BY ARABS

Arafat, a man who never has stood tall, finally agreed to take away "weapons of terror" from Arab outlaws and provide extradition in exchange for some land (13%) on the West Bank. The U.S. will be the guarantor of the agreement. Right-wingers in Israel don't want to given an inch of West Bank land. Arafat must amend the PLO charter to renounce the anti-Israel language. The CIA will keep records on how many illegal weapons are confiscated and will provide assistance and training for anti-terrorist forces. This is the 1 st time the CIA has taken such an overseas verifying role. Sen. John Forbes Kerry (D-Mass.) (CFR/S&B 1966) said the CIA is now the lead agency in combating terrorism. P.M. Benjamin Netanyahu survived a no-confidence vote. Arafat put the founder of Hamas, Sheikh Ahmed Yassin, under house arrest. A leaflet was faxed to Reuters threatening civil war on the Palestinian Authority. Sheikh Hassan Nasrallah called Arafat a traitor and called on the Palestinians "to topple Arafat before he implements the accord." He added: "I call on all Palestinians who own knives, grenades or guns to go out and kill Israelis"

NO MORE UN INSPECTIONS SAYS SANCTIONS-SICK IRAQ

Iraq became tired of unending sanctions as a TV interview featured a open call for the U.S. to topple Saddam Hussein. The sanctions by the UN followed the 1990 invasion of Kuwait.

TRUMP GETS PORK FOR PARK

Donald Trump got a federal subsidy to move a highway in return for a park.

JONES GETS CHECK BUT CAN\'T CASH IT YET

Abe Hirschfeld, a NY real estate magnate, turned over a $1 million check to Paula Jones.

THE "NEW AND KINDER" IRS ATTACKS ELDERLY STILL WORKING SCHOLAR

Embattled Flashpoint editor Texe Marrs published an expose of IRS harassment of America's best Skull and Bones scholar -- Antony Sutton (who is now 71 years old and still going strong). A Sutton friend said last year that Sutton was a fugitive in his own country. Marrs last month sent out a list of some twenty-five things churches cannot do or else they will lose their tax exemption.

IT'S HELL GROWING OLD IN AMERICA

50% of Americans have no pension plan. Federal taxes will increase by 25% as more Americans become elderly. If you retire at 62 you get only 70%. Plenty of savings are needed for golden years as health car costs increase not covered by insurance (especially drugs). Most retire at 62 but many still have to work. Companies discriminate against hiring the elderly because of the increasing expense of providing health insurance. Baby boomers have a 10% chance of ending up in a nursing home. Medicare is only short-term and Medicaid pays only if you are broke.

WAR ON HANDGUN MAKERS FOLLOWS WAR ON SMOKERS

New Orleans Mayor Marc Morial has filed a state lawsuit against 15 gun manufacturers, five pawnshops and three firearms trade associations following the example of the national legal battle against Big Bad Tobacco. The lawsuit charges failure to build weapons with adequate safety features. The suit is backed by the Center to Prevent Handgun Violence -- the advocacy group that pushed the anti-handgun Brady Bill into law.

MEXICO PUTS BITE ON BULLETS

Dozens of Americans are now in jail in Mexico for bringing guns into the country -- even when they just made a wrong turn on the highway. You can get a 30-year jail sentence for possession of a single bullet. Highway signs are being posted on routes into Mexico.

FCC BLOWS TAPS ON PHONES FOR BENEFIT OF MORE EASY LISTENING-IN

The FCC ordered makers of cellular phones to make it easier for authorities to do wiretaps (still must be court-approved).

NOT LOST IN SPACE

John H. Glenn was back in orbit with what CNN called an "international"4 crew. It'2s an introduction to "the next phase in space." Stay tuned for the joint U.S.-Russian post-Cold War One World space station coming soon. Norman Dodd are you rolling over yet?

BANKERS TRUST IS IN THE RED

Bankers Trust is the only U.S. bank in the red for this quarter. The 8th largest U.S. bank is likely takeover target. But a German magazine interview said no talks with Deutsche Bank were happening.

ALSO IN THE NEWS

A joint U.S.-Canada law enforcement task force was launched after hidden sniper shot an Buffalo clinic "abortion provider." The FBI posted a $100,000 reward against the murderous anti-abortion movement militant suspect.

The date of the California primary has moved forward to March.

A New Mexico trooper killer in Cuba said he'd come back to serve a 5-year sentence. He is one of three black revolutionaries that hijacked a jet 26 years ago. But Cuba says it is the U.S. that gives a refuge to fugitives. Castro offered a mutual exchange.

If you wear a uniform you can't be critical of the President.

Steve Forbes plans to run again.

The market survived the October month. Since 1960 the Fed has cut the interest rate 11 times. Several Fed governors see no recession as likely.

Robert F. Duvall said that few schools teach children finance. The result is economic illiteracy. Most states have no mandatory requirement for economics.


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