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...headlines such as those in Wilmington, N.C., early this month. DEA and U.S. Customs officials swooped in on a twin-engine Cessna that made an unscheduled nighttime landing, arresting the pilot and a passenger and seizing their cargo of 440 lbs. of cocaine. The estimated wholesale value of the shipment: $16 million...

Author: /time Magazine | Title: Cocaine: Middle Class High | 7/6/1981 | See Source »

...timers, for which he promised to pay $35 million. They cost only $2.5 million to produce. Explosives to go with the timers were illegally supplied by J.S. Brower & Associates of Pomona, Calif, another CIA contractor. Some 40,000 Ibs. of the high explosive RDX-the largest nonmilitary shipment on record-were flown to Libya in 55-gal. drums marked "industrial solvent." This was a risky enterprise since the drums could have exploded in flight in turbulent weather...

Author: /time Magazine | Title: Trafficking in Terror for Libya | 6/29/1981 | See Source »

Begin himself obviously felt he had to go further in his accusations against Iraq. On Wednesday, after his government complained that the temporary U.S. suspension of the latest F-16 shipment was "unjust," Begin made a new claim about the Tammuz reactor. He declared that some 132 ft. beneath the demolished reactor there was a secret installation, undiscovered by international inspectors, where the Iraqis intended to produce their bombs. This too, he said, had been destroyed. The next day, Begin altered the depth of the hiding place...

Author: /time Magazine | Title: Attack - and Fallout: Israel and Iraq | 6/22/1981 | See Source »

...International Atomic Energy Agency inspector charged with enforcing the nuclear nonproliferation treaty, which Iraq signed in 1968. France had taken steps to minimize the possibility that nuclear fuel might be diverted for military purposes. Paris had promised, for example, to deliver only enough enriched uranium in a shipment to keep the reactor going, thus preventing the Iraqis from stockpiling the material. Last June, when the first 12 kg of uranium were shipped to Tammuz under careful IAEA and French supervision, the French took the precaution of irradiating the uranium to make it impossibe for the relatively unsophisticated Iraqi technicians...

Author: /time Magazine | Title: Disputed Target in the Desert | 6/22/1981 | See Source »

Bankers' acceptances are widely used in foreign trade transactions. If an exporter sells a shipment of goods to a foreign customer, three months or more can go by before the exporter gets paid. Meanwhile, he must carry the cost of the goods he has already sold and shipped. To get his money earlier, an exporter often negotiates a short-term bank loan. The bank then stamps the note ACCEPTED, which guarantees repayment even if the borrower reneges, and sells the document at a discount on New York's short-term money market. Many millions of dollars in such...

Author: /time Magazine | Title: Busy Banker | 6/1/1981 | See Source »

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