Word: exportability
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Were the arms sales to Iran approved in advance? It was not the panel's role to make judicial verdicts, but the report makes clear that the legality of the arms deals depended on whether the President formally waived in advance the provisions of various arms-export laws forbidding shipments to Iran...
Economic forces on both sides of the Pacific have helped set off this international game of Monopoly. For one thing, Japan's incredible export machine has created a huge pool of excess capital. Japan's trade surplus with the U.S. in 1986 alone was $58.6 billion, and exchange-rate changes over the past two years havesharply boosted Japanese purchasing power in the U.S. The dollar has depreciated in value against the Japanese currency by some 40%, from 260 yen in February 1985 to 153 yen last week. That makes even Manhattan prices seem reasonable. Example: a building that cost...
Using arms shipments as a bargaining tool with Iran may not have been illegal. Although it violated publicly proclaimed U.S. policy and arms-export laws, the President had the power to waive the laws by issuing a finding that the actions were in the national interest. But the commission is likely to be harshly critical of the hypocrisy and folly of this failed policy...
...Reagan did not authorize the 1985 shipments, McFarlane apparently violated laws by arranging them. If Reagan did authorize them, but only orally, that would be an apparent violation of the arms-export laws because he did not sign a finding that this was in the national interest until later, in January 1986. But Meese contends that this finding was retroactive...
...Dutch and French are experts. Italians see no point in beer, but what they make is drinkable. Mexicans produce good summer-weight cerveza. Canadian beer includes such hairy, out-of-the-swamp- and-still-dripping specialties as Moosehead, fondly known as Moosebreath by truck drivers in the Northeast. Japanese export beer tends to be thin and disappointing, which is to say it tends to taste far better than our mainstream belly wash. For that matter, Ladakhi Buddhists in remote Himalayan valleys make beer better than ours in open earthenware pots, in which dazed microorganisms swim for the shore. Furthermore...