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Forget the fact that Nixon has overseen the systematic denial of Export-Import Bank credits to countries whose domestic policies seemed unseemly to him. Ignore the convulsions in Chile induced by two years of U.S. economic poisoning. Nixon's explanation still rings false. The crisis would be here even if it weren't for the fact that the Arabs had picked up a few ungentlemanly American tricks. Even Nixon's handpicked energy czar, William Simon, says that the Arab embargo is only a convenient focal point, a catalyst that has speeded things up a bit but not changed the basic...
Since World War II, Chile has obtained 65 per cent of its capital imports from the United States. An immediate problem posed by the credit blockade was Chile's inability to import parts and replacements for U.S.-built machinery. Small industries and transportation were the most heavily affected but the larger industries also began to feel the scarcity...
When Allende nationalized U.S. business, the United States adopted a hard-line policy and cut off all credit from the Agency for International Development and the Export-Import Bank (Eximbank), as well as from U.S.-controlled international organizations, the World Bank and International Development Bank. As soon as these institutions withdrew their support for the Chilean economy, private U.S. and European banks withdrew credit for the short and medium-term loans which are necessary to normal import-export transactions...
...after falling $67 million into the red in 1971. But it has a long-term debt of close to $1 billion and thus has had some difficulty raising capital for Hammer's favorite overseas projects, which include drilling in the North Sea and a multibillion-dollar plan to import natural gas from Siberia. Baird's banking experience may be just what Occidental needs to reduce its debt and to gain, as he puts it, "a better-balanced capital structure...
This is particularly true of the illfamed Saturday Night Specials, those $25-and-under, small-caliber imported handguns that are flooding our cities at a rate of 2,000,000 a year. They are being used increasingly in muggings, holdups and the random, senseless murders of strangers, which are also on the rise. The 1968 Federal Gun Control Act banned the import of many of these so-called "junk guns." But under pressure from various gun lobbyists, the landing of gun parts was not stopped. This led naturally to the profitable gun-assembly business...