THE CIA AND BANKING

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP90-00965R000100150008-0
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 7
• Document Creation Date: December 22, 2016
• Document Release Date: August 29, 2012
• Sequence Number: 8
• Publication Date: December 18, 1982
• Content Type: OPEN SOURCE

Declassified in Part - Sanitized Copy Approved for Release 2012/08/29: CIA-RDP90-00965R000100150008-0
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Declassified in Part - Sanitized Copy Approved for Release 2012/08/29: CIA-RDP90-00965R000100150008-0
STAT
Declassified in Part - Sanitized Copy Approved for Release 2012/08/29: CIA-RDP90-00965R000100150008-0
STAT
STAT
RADIO "IV REPORTS, INC
4701 WILLARD AVENUE, CHEW CHASE, MARYLAND 20815 656-4068
FOR PUBLIC AFFAIRS STAFF
PROGRAM
DATE
SUBJECT
Jack Anderson Confidential
December 18, 1982 7:30 PM
The CIA and Banking
STATION WJLA TV
Syndicated
ON Washington, DC
JACK ANDERSON: This is Wall Street, the center of the
international banking system, a system on the edge of a crisis so
severe that the Central Intelligence Agency is preparing drastic
measures. Something must be done to avert the breakdown of the
Free World's monetary system. ,
The crisis developed after $600 billion in risky loans
were made to 40 underdeveloped countries, countries too poor
to pay them back.
Richard Dale is a visiting scholar at the Brookings In-
stitution in Washington. The CIA came to see him because he's
one of the foremost authorities on international banks. He spoke
with my colleague Terry Repack.
RICHARD DALE: Well, as I understand it, the CIA takes
the view that the momentum towards collapse is already far ad-
vanced and that the political will to anticipate the problems
that may arise is simply not there. And I think they take a
rather skeptical view about the whole problem; namely, that
governments will not act until, in a sense, it's too late. And
that is one particular interpretation.
So I think they say, right, we will not solve this
problem ahead of events; we will have a global bank holiday
before anything is done, and that will be the stimulus to get
governments to act and cooperate to pull us out of this.
But, of course, the CIA's job, if I may say so, is to
look at the downside risks. They're always looking for the worst
case. That is the nature of their job. So that was their focus.
:ES 1N WASHINGTON DC ? NEW YORK ? LOS ANGELES ? CHICAGO ? DETROIT ? AND OTHER PRINCIPAL CITIES
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Declassified in Part - Sanitized Copy Approved for Release 2012/08/29: CIA-RDP90-00965R000100150008-0
Declassified in Part - Sanitized Copy Approved for Release 2012/08/29: CIA-RDP90-00965R000100150008-0
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Rut having said that, I think that so far as I'm aware, their
analysis of this situation is quite realistic.
1/
The prohlem is that the international banking system
oils the wheels of international trade. If the international
banking system ruptures or breaks down in any way, the wheels
of international trade grind to a halt. International trade has
been growing very rapidly in recent years. If that were suddenly
to grind to a halt, you would have jobs lost here on a very large
scale. After all, some 30% of U. S. steel is exported. Forty
percent of agricultural produce is exported. If there were to
be a rupture of international trade, there would be massive job
losses here and in other industrial countries.
ANDERSON: Experts have told me there is no need to hide
our money under mattresses. The banks will not go broke. But
'what is not clear is just how much the taxpayers will have to pay
to bail out the banks for a crisis they helped to create.
Declassified in Part - Sanitized Copy Approved for Release 2012/08/29: CIA-RDP90-00965R000100150008-0
Declassified in Part - Sanitized Copy Approved for Release 2012/08/29: CIA-RDP90-00965R000100150008-0
RADIO IV REPORTS, INC.
4701 WILLARD AVENUE, CHEW CHASE, MARYLAND 20815 656-4068
FOR PUBLIC AFFAIRS STAFF
PROGRAM
Jack Anderson Confidential
STATION WJLA TV
Syndicated
DATE December 18, 1982 7:30 PM ON Washington, DC
SUBJECT
American Mercenaries in Angola
JACK ANDERSON: The Central Intelligence Agency has been
conducting secret subterranean wars around the world. The CIA
has sponsored rebellions in such faraway places as Cuba and
Cambodia, Laos and Iraq. One of the most secret operations was
run in the remote African nation of Angola.
Gary Acker, an ex-Marine, signed on to fight communists
in Angola six years ago. He was then 21 years old. He was
captured by the communist forces before he saw any action. He
was sentenced to 16 years in an Angolan prison.
Last month Acker was released as part of a prisoner
exchange with the Soviets. He described his experience in an
exclusive interview with my associate Indy Badwar.
GARY ACKER: The prison clothing, what they gave us --
one time they gave us what we called a monkey suit. It was a
brown overall type thing, and this I refused to wear.
When I was released, I refused to wear the clothing that
they provided, because during my time in prison, they didn't give
me sufficient clothing. Two and a half years, I was barefoot. I
had no shoes. I had a pair of shorts that rotted, literally
rotted off me. The guards would laugh and say "a white mercen-
ary." And when I asked for clothes, they refused to give me
clothes.
So when my time came, I refused to wear their clothes.
INDY BADWAR: What about medical treatment? They had
refused it to you once.
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