Truth in Media Global Watch Bulletins

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TiM GW Bulletin 98/9-2

Sept. 10, 1998

Check Out Some Reader Reactions to Our Articles and Some Other Issues, Too

TiM READERS' FORUM

September 1998

PHOENIX, ARIZONA              Topic: TiM READERS' FORUM


In this issue...

A Letter from Japan: Why Do Japanese Banks Say "Yes" to U.S. Ballparks, "No" to Japanese Jobs and Businesses?

Also, some reactions to: "Harnessing Japan's Exporters" (by Dr. Michael Hudson, TiM GW Bulletin 98/8-2, 8/05/98)

U.S./California: n Kooky American Policies

U.S./California: n The Missing Defense Quotient

Letters on Russian Crisis: "Is There Any Punishment Great Enough for Those Who Have Destroyed the Russian People?"

U.S./Maryland: n Dead Poets Stand Up for Russia

U.S./New York: n "Who Robbed Russia - and Us?"

U.S./Washington: n Russia Has No Government

Some reactions to: "Let's Reclaim Our Constitution" (a speech to Reform Party of AZ convention, Sept. 5, 1998)

U.S./N. Carolina: n Achara!

U.S./New York: n Voters Need to Be Educated

U.S./Alabama: n What About Other Parties?

U.S./California: n Outstanding speech!

U.S./Oregon: n Why Not Give "Free" TV Time to Candidates?

U.S./Arizona: n Finally, Comment from a Reform Party Official

(our apologies to the many, many other readers whose letters of support we could not carry - for reasons of space...)

Some reactions to: A TiM Letter to the Wall Street Journal re. Its "Debt Heads" Editorial (8/06/98):

U.S./Utah: n Pay It Off

U.S./New York: n "Miracle of Compound Interest" and a Sinking Fund

U.S./(state unknown): n How Will the Unborn Revolt?

U.S./(state unknown): n Let Us Join You in a Barrage at the WSJ

A Letter from Cyprus: Euro Court Rules Against Turkey

Cyprus: n Turkey Convicted of a Human Rights Violation

A Letter from South Africa: Beware Clinton's Friends

South Africa: n A Red Carpet for a Communist at the White House

From TiM's "Ostrich of the Month" Award...

  ...To TiM's "Letter of the Month" Fan Mail

 

 

For Your Smile... The Porsche-cupine!


JAPAN: WHY DO JAPANESE BANKS SAY "YES," TO U.S. BALLPARKS, "NO," TO JAPANESE JOBS AND BUSINESSES?

KAWASAKI, Japan - The Daily Yomiuri reported on the sports pages of its August 27, 1998 issue that Sumitomo Bank will fully underwrite a $145 million loan to the Detroit Tigers baseball team to build a new ballpark in downtown Detroit. Scheduled to open in 2000, the new stadium is to cost roughly $295 million. Of that, $145 million is to come from the Sumitomo Group, $115 million from public sources, and $35 million from the Tigers and its owner, Mike Ilitch.

The article said Sumitomo has also served as the lead lender for the Jack Kent Cooke Stadium of the NFL's Washington Redskins professional football team, and has refinanced the Corel Center in Kanata, Canada, home of the Ottawa Senators, a professional hockey team.

This is an outrage! While making loans to build sports stadiums in America and Canada, Japanese banks are causing epidemic bankruptcies, record unemployment, and unheard of levels of economic-related suicides in their own country - by refusing to loan funds to Japanese businesses that need loans, and even calling in outstanding loans.

Japan has suffered more bankruptcies in the past twelve months than in any of the past 48 years. The debt of bankrupt companies jumped to record levels in 1997, while the number of firms that went bankrupt skyrocketed to 16,464. Another 10,173 corporations with liabilities of 10 million yen ($75 million) or more failed in the first half of this year, up 29.5 percent from 1997. This marked the first time in 14 years that the number of corporate failures in the first half has topped 10,000.

There were another 1,673 corporate bankruptcies in July, up 28.6 percent from a year ago, and the highest number for any July in the postwar period. July was the 14th consecutive month in which corporate failures with liabilities of 10 million yen or more rose from a year earlier and the eighth consecutive month with an increase of more than 20 percent.

A 45.4 percent rise in bankruptcies of manufacturers, which have played a role in helping the economy out of past slumps, is casting a long shadow over the economy's future. Teikoku Databank, expecting a rapid increase in corporate bankruptcies, says, "An increasing number of firms are on the verge of falling into a liquidity shortage, and we expect bankruptcies to grow at the highest pace in postwar history."

The primary cause of this epidemic of bankruptcies is the refusal of usurious Japanese banks to loan to Japanese companies the savings entrusted to them by Japanese citizens. The Bank of Japan reports that the outstanding balance of bank loans in June fell 2.3 percent from a year earlier to 513.2 trillion yen ($3.9 trillion), a level last seen in June 1992. The Bank of Japan attributed the sixth-straight monthly contraction to cautious lending policies by banks attempting to keep their capital adequacy ratios high. It didn't mention their preference for building sports stadiums in America and gambling on the New York stock market, markets for international currencies and other speculative casinos.

Meanwhile, the balance of deposits at major commercial banks and regional banks grew 2.7 percent from a year earlier to 449.14 trillion yen ($3.4 trillion). In other words, Japanese banks are collecting more savings from Japanese citizens, so they have plenty of money to lend. Instead of lending capital to Japanese companies which need credit to run their businesses, however, they are loaning Japanese savings to Americans to build sports stadiums. And they are gambling funds on the New York stock market and in other international casinos.

The resultant credit crunch is a major cause of unemployment (in Japan), which has reached record highs this year. The July bankruptcies alone caused a loss of 16,979 jobs. While the unemployment rate fell to 4.1% in July after hitting a record high of 4.3% in June, the number of employed is still decreasing, so the fall in the rate was merely due to a rise in the number of people who had given up looking for work and therefore were no longer registered as unemployed, according to the Management and Coordination Agency. The number of those without jobs but not registered as unemployed, rose by 980,000 people from the previous month to 38.71 million in July, the biggest rise since February 1993. The jobs-to-applicants ratio stood at 0.50 in July, the lowest level since the government began compiling the data in 1963.

Japan's soaring suicide rate is the saddest aspect of this worsening economic plight. The number of suicides linked to financial problems last year hit a level three times higher than when the country's asset "bubble" burst eight years ago. The National Police Agency reports that 3,556 people took their lives because of economic problems - a rise of 18 percent over the previous year, and 2.8 times higher than the 1,272 economic-related suicides in 1990.

How many of these suicides were caused by the refusal of greedy banks to loan to Japanese businesses the savings we entrusted to them because they sought more profits for themselves by loaning our savings out to build sports stadiums in the United States and Canada? Or, to gamble on international stock exchanges and currency markets?

Bill Totten, an American businessman

URL: http://www.ashisuto.com

Japan

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Also, some reactions to: "Harnessing Japan's Exporters" (by Dr. Michael Hudson, TiM GW Bulletin 98/8-2, 8/05/98)

U.S./California: KOOKY AMERICAN POLICIES

CALIFORNIA - We received the following comments from two California TiM readers about the subject article:

"I can't help but be struck by the absolute kookiness of America's Asia policies. Even if we're suckering China into WW III, as we did with Japan in the 1930's, what's the point of American control of assets in Asia if China will destroy them anyway?"

Steve Upton

California

TiM Ed.: See the joke re. difference between mechanical and civil engineers (in "Djurdjevic's Speeches" section of our Web site).

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U.S./California: THE MISSING DEFENSE QUOTIENT

CALIFORNIA - Jim Flanigan is a well known business columnist for the Los Angeles Times. He sent us the following comment:

The one thing missing from Dr. Hudson's analysis, and from yours, is any mention of the fact that Japan has been a military client of the United States for more than 50 years. There is a defense quotient in all U.S.-Japan relations, which are comparable to relations between lord and vassal, that never gets mentioned but it all important for understanding the economy and the politics of Japan. Cheers.

Jim Flanigan, columnist

California

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Letters on Russian Crisis: Is There Any Punishment Great Enough for Those Who Have Destroyed the Russian People?

U.S./Maryland: DEAD POETS STAND UP FOR RUSSIA

MARYLAND - We informed some of the TiM readers on Sept. 1 that key Russian units had been reportedly been placed on "red alert," according to an Aug. 31 article in "Komsomolskaya Pravda." Here is one reaction to that report from a TiM reader and journalist (see Mrs. Marian Kester Coombs' excellent article, "Globaloney in the Classroom," in the September issue of the CHRONICLES magazine):

Of course I have no means of independently verifying this "rumored alert," like so many other rumored alerts, but it is all too believable. This is what happens when the world's "sole remaining superpower" has fallen into the hands of infantile moral idiots. Yeats' great lines haunt us:

"Things fall apart; the center cannot hold:,

Mere anarchy is loosed upon the world,...

The best lack all conviction while the worst

Are full of passionate intensity."

TiM Ed.: William Butler Yeats, 1865-1939, an Irish author, won a Nobel prize in 1923.

A Russian Mom Holding Her Dead Son's Photo (in 1997)

Rus-mom.tif (232482 bytes) Of Russia's plight, perhaps her poet Sergei Esenin,  said it best in various of his poems:

"But you did not see

that I lived in thick smoke,

and the shattering blast of things

which torture me because I do not understand

where this century is leading us."

 

"Who is there I can call? With whom to share

The sad joy of having remained alive?...

My native speech lies awkward on my tongue,

I am a stranger in my own country."

 

"Oh Russia, my wooden Russia!

I am your last poet."

 

"Yet I am ready

with a pure heart to swear

that street lighting in Baku

is better than the stars."

 

"What happy turmoils come of this;

Setting out for the other land,

At the last moment I would ask

Of those who chanced to be at hand,

Just that, for all my grievous sins,

And all my disbelief in grace,

They lay me in a Russian shirt

To die beneath an Ikon's face."

TiM Ed.: Sergei Alexandrovich Esenin, a Yeats' contemporary, committed suicide on Dec. 28, 1925 at the age of 30, at the height of the last (western) destruction of Russia  - by the Soviets.

And now Russia has lost not only her stars but her street lighting. Is there any punishment great enough for those who have destroyed the Russian people?

Marian Coombs, journalist

Maryland

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U.S./New York: "WHO ROBBED RUSSIA - AND US?"

NEW YORK - We drew some of our friends attention to a column by Pat Buchanan, "Who Robbed Russia - and Us?" (Aug. 28) in an e-mail of the same date:

"Pat hits the nail on the head. And names the real culprits for destroying Russia - the IMF-backed 'reformers,' their Clinton-appointed Harvard advisors, and the U.S. Treasury."

"Perhaps the only thing missing was an explanation that Russia's 'corrupt oligarchy,' installed by a similarly corrupt western financial oligarchy, transferred about half a trillion dollars-worth of their Russian loot to western banks and/or markets. No wonder Russia didn't have enough hard currency with which to defend the ruble."

"The western 'reformers' have also ruined Russia's economy and its ability to create new wealth. It was a double whammy loss for Russia, while a net cashflow gain for the western bankers. Especially for those who did not invest in Russia, but did take its foreign deposits."

We received the following cryptic response from Ben Works of New York:

>1. Two words are missing: "Strobe Talbott."

TiM Ed.: Of course. And Yegor Gaidar. If you check out the Russian section at our Web site, you'll find there "Russia's 'Privatization:' Financial Crime of the Century?" (TiM GW Bulletin 98/3-8, 3/24/98), a review of an upcoming book by Anne Williamson, a former WSJ reporter from Russia.

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U.S./Washington: RUSSIA HAS NO GOVERNMENT!

WASHINGTON (state) - Andrew Frankel presented a seven-point "Plan For Russia" in an Aug. 29 report published on the Johnson Russia List, an Internet newsletter. Here is a reaction to it from a Russian-American banker in the state of Washington:

"Mr. Frankel, your plan assumes you are dealing with a real government. There certainly are real Russian people but they have no government. As long as you keep giving money to the thieves who are the dictators of Russia you postpone economic recovery. There is practically nothing left to steal from the Russian people and they will soon start dying in greater numbers. Please do not suggest we continue to support their executioners. I already shudder at the crimes against humanity that U.S. Government policy has inflicted. I absolutely cannot in good conscience be a party to a continuation of this, even if only as a citizen with no power other than my voice.

It is precisely because I care with all my heart for Russia that I must speak against your proposals however well intentioned. Russia has no government. Neither do the World Bank and IMF have credibility or impartiality. They are instruments of the political and military policies of their owners. I am glad they are broke. They should be kept that way until they stop supporting dictators.

Restoring investor confidence can only be accomplished with a trustee and abdication of power. It will take another two decades before Russia learns fiscal morality.

Once you understand that anything inside Russia's borders is not collateral you realize that Russia has insufficient collateral. Shares have no meaning in Russia. There is no infrastructure of a stock market. and no share owners rights or law.

Please do not ask Congress to continue this insanity by appropriating more money. We should withhold money until the Russian people have a government.

The Kremlin doesn't care if it forfeits all of Russia. Just come and try to take possession. Don't you get it yet.

Collateral will, subject to occupancy by force, make Russia another State in the United States of America. It will not change how Russia deals with money.

Privatization thus-far has been an immoral transfer of the communal property of the citizens of the former Soviet Union to a bunch of crooks who have disenfranchised the rightful owners. Please don't propose it be continued without a trustee to take the proceeds in trust for the owners instead of the thieves who pose as a government and stick it in their own pockets.

You can put voting rights anywhere you wish but it will not change the control the government has. The IMF can't auction off anything inside Russia's borders. Ownership of shares does not mean the same thing to a Russian as it does to you. The IMF would never have the clout necessary to uphold Western-style transparency and to mount a proper defense of shareholder rights. Your dream is an illusion.

Please don't believe that by pegging values you can make them market prices and thereby impute a value. The Russian government ( those posing as the government) is not interested in buying anything. It is interested in selling and depositing in their western bank accounts.

Do you really think the Duma consider parting physically with anything it has sold on Russian soil irrespective of the price it received? No plan to give any money to Russia insulates the U.S. administration from congressional criticism until Russia has a real government.

Whether Russia's monetary policy is set by someone who is not Russian or not will make no practical difference. I am for the objectives and goals, but I have no confidence that your approach will achieve them. I say that with all due respect and politeness. You are repeating what has been done the past seven years and it has caused the Russian people great suffering."

Dr. Pyotr Joannevich van de Waal-Palms

President, Palms & Company, Inc., Investment Bankers

URL: http://members.aa.net/~russia/palloby.html - "Understanding Russian Banking"

Washington (state)

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Some reactions to: "Let's Reclaim Our Constitution" (a speech to Reform Party of AZ convention, Sept. 5, 1998)

U.S./North Carolina: ACHARA!

NORTH CAROLINA - Hi Bob, or Achara! (Irish for hello). I must admit, you have to be my favorite modern writer. I enjoy your post and read them all. Your style is unique in that it just plain and simply covers the truth. I guess that's why it's TiM, huh? I'm nobody in particular at this moment, but for what it's worth, you get my vote for a Pulitzer or whatever is in your category. Keep up the good work and please keep my on your list. Out of the hundreds of emails a week, yours is one of the few that I keep. Have a happy Labor Day weekend!

Steve Layne

North Carolina

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U.S./New York: VOTERS NEED TO BE EDUCATED

NEW YORK - Thanks for your speech. I voted for Perot for same reasons you did, and learned some relatives in the South did the same. Too bad Perot's vision did not extend far beyond the hood of his metaphoric automobile.

If it had, he would have listened to experts the second time around. He should have bought up enough newspapers and radio stations in say, California, New York, Ohio, and Texas to load the mailboxes and automobiles of "captive" audiences with his message. Essentially, the message was and is: "It's your country, register and vote and take over".

The "powers that be", Big Money, Big Media, Big Government, control by distraction. When resistance does arise, (650,000 not-for-profit organizations) it is not focussed on the problems caused by the three "Bigs".

Alexander de Toqueville wrote in his memoirs of taking children safely through troubled streets of Paris in the mid-nineteenth century. He also wrote of the ideas of "revolution" expressed by simple-minded servants: They thought they would personally enjoy the luxuries of lords and ladies, once the "revolution" was accomplished.

An extremely naive view - but the truth is that if the idea and practice of one-person-one-vote is realized without discrimination, the "poor" will always win if they vote against the "rich".

Majority rule will always endanger wealthy minorities if the poor are literate in matters of their own best financial interests. The three Bigs work diligently to obscure this fact.

Ordinary people who can remember millions of trivial facts about sports and entertainment figures, and even Wall Street and political celebrities, are essentially ignorant of the basic facts of the Globe and globalization which you discuss in your speech. The Globe changed radically with dissolution of the USSR. For democracy to work, voters and potential voters must be empowered with the facts you mention, as well as others of a similar nature. Voters should understand the meaning of a billion dollars or a billion people.

Nowhere have I seen a valuation of total U.S. resources, i.e. all stocks and private ownership of U.S. domestic wealth. It would be interesting to relate such a figure to U.S. population and to U.S. acreage.

You, Bob, have access to all sorts of financial info. It bothers me a little that the New York Times and the Wall Street Journal can publish upwards of 200,000 lines of market facts each working day, yet ordinary citizens don't have access to the kinds of facts you mention in your speech. To resist the dangerous trend you spoke of, I think any Reform Movement must equip voters by installing in their brains the vital facts about how Globalization is changing our world.

Hugh Bone

New York

TiM Ed.: We agree with Mr. Bone's assertion that voters need to be educated if they are to exercise educated opinions at the polls. That's what Truth in Media tries to do - educate and inform. Some of the figures about which Mr. Bone inquired, for example, were already published in the TiM GW Bulletin 98/8-4, 8/13/98. To recap, total U.S. equities ("valuation of total U.S. resources," the way Mr. Bone phrased it) amounted to $13 trillion as of the end of 1997. This TiM GW Bulletin, which is available at our Web site, also analyzed in detail the breakdowns by investor categories, including individual shareholders (see the charts).

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U.S./Alabama: WHAT ABOUT OTHER PARTIES?

ALABAMA - In your "A Reform Party of AZ speech" you wrote:

[...] That having been said, and unbeknownst even to the Reform Party organizers, this writer has voted for Ross Perot, the Reform Party founder, in the last two presidential elections. Not because I was enamoured of Perot. But because I thought it was the lesser of three evils:

(a) voting for Clinton

(b) voting for Bush/Dole

(c) having to vote for a "write-in" candidate - that of my dog, Fred Bassett. [...]

Dear Mr. Djurdjevic,

I wish to respectfully remind you that you did not choose from "three evils". You had four choices. The were at least 4 choices for President in all 50 states. The Libertarian Party was there. You may well find no merit in their positions, but some Libertarians do read your posts. The "major media" has often failed to report vote totals received by all third parties - even when the data was readily available. When they do this to ANY party that is on the ballot in all 50 states, they've implemented a type of truth filter, an intentional deception by omission - similar to the "news filtering" you've written against in some of your previous posts. If you're a honest man - and I believe you are - then you won't participate in this kind of thing.

I don't agree with everything you've written, but I find value in much of what you say - such as this text from your speech:

" ... Is there any wonder the U.S. embassies are bombed abroad? Is there any wonder that we, American citizens, are all being put at risk as unwitting targets of terrorists because of our government's policies? Little do these foreigners know that American people are also the VICTIMS of their government's policies."

I expect to lose in our next "war"... even if "we win". Those of us who still carry around coin substitutes in our pocket inscribed with the word "Liberty" will be asked to give up just a little more of it. There are major philosophical differences between Libertarians and those in the Reform Party, and also the U.S. Taxpayer's Party - yet there's also some common ground.

Mike Beasley

Alabama

TiM Ed.: Thank you for your reminder, Mike. I plead guilty to the charge of neglecting to mention other choices the voters faced (in 1996). I did not intend it as an endorsement of the Reform Party at the expense of others. Feel free to pass this comment on to any Libertarians or other (independent) parties' supporters you care about.

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U.S./California: OUTSTANDING SPEECH!

CALIFORNIA - An outstanding speech! I do wish I had your talent for writing. Thought some of your readers may also like to join us in a protest against the leasing of the former US Naval Base at Long Beach, California, to the Chinese Communist Government.

The demonstration will take place at Long Beach (California) on Saturday, September 26, 1998. It will start in front of the Long Beach Hyatt Hotel, 200 South Pine Ave, and will last from 7:00 AM to 4:00 PM. The Chair and coordinator of the demonstration is Mrs. Melani Crandell of "The Stand Up America Committee," PO Box 6756, Huntington Beach, CA 92615. Hotline: 949-222-4990. E-mail: takeastand@home.com.

Consider the sound of the alternative to a peaceful Second American Revolution. Consider the sound of slavery. Consider the sound of a Laogai (Chinese "Gulags") - in your (American) home town. What kind of sounds will you and your children make - then?

Gene Crocker

California

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U.S./Oregon: WHY NOT GIVE "FREE" TV TIME TO CANDIDATES?

OREGON - This was a terrific speech! I especially liked the "demo-farce." I have often thought that, instead of forcing the politicians to sell out to the fat-cats in trade for advertising (campaign) dollars, why don't we, as a nation, simply mandate that candidates use C-SPAN; or make the big networks give "free" time to candidates (after all those radio waves are public domain that the government leases). I think this would prevent the "monied" interests from purchasing our political system.

Gerald Adkins

Oregon

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U.S./Arizona: FINALLY, A REFORM PARTY OFFICIAL COMMENTS

PHOENIX - Thank you for taking the time to share your knowledge with our group. We truly appreciate your diligent work, and can only hope more people get involved enough to find the truth. I do hope you realize that most of the people in our party are on the same wave length (as you), and realize the enormity of the deception.

It is sad that more people will attend a football game, or watch that moronic Seinfeld (TV show) than will attend a meeting to give citizens a chance to talk to a political party. Or listen to what is happening in this world. On behalf of our Reform Party, I thank you for taking the time to share your knowledge with us and hope you stay in touch.

Kathy Chapman

Arizona

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Some reactions to: A TiM Letter to the Wall Street Journal re. Its "Debt Heads" Editorial (8/06/98):

U.S./Utah: PAY IT OFF!

UTAH - The only practical solution is to pay it off. The Congress can use its power to coin Money and regulate the Value thereof to set the price of gold in terms of FRN-denominated debts such that the gold hoard is of equal value as the national debt, have it minted appropriately, and offer redemption for all instruments with all remaining interest coupons attached. Imposition of a 100% withholding tax from that date until maturity on the interest of all instruments not tendered for early redemption will keep the debt from compounding. A constitutional amendment removing the power of Congress to borrow on the credit of the United States, limiting that power to Congress' own credit, not by distraint (such as legal tender "laws"), or bribe (such as interest, fees and discounts), nor for more than two years, will allow the public to lend them money when they support the use to which it will be put, such as defense against foreign invasion.

Scott Bergeson

Utah

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U.S./New York: "MIRACLE OF COMPOUND INTEREST"

NEW YORK - Dr. Michael Hudson writes from New York:

"Bravo, Bob! You need only refer to the 'miracle of compound interest' to see that our debt -- which means, I'm afraid, our savings, too -- are growing exponentially at interest."

TiM Ed.: Thanks, Michael. That's an excellent point. Is it true, as someone once told me, that Albert Einstein had supposedly said that the compound interest was the mankind's greatest invention? (I am paraphrasing the source).

"Trying to find a way out of Britain's debt in 1776 (as it was being drained by the war in America), the actuary Rev. Richard Price calculated that a penny saved at the birth of Christ at simple interest would amount to only about five pounds or so, but at compound 6% interest would represent a solid sphere of gold extending from the sun out to the orbit of Jupiter. This is how debt grows. Price's solution was to create a sinking fund, invest it at 5%, and use its proceeds to pay off the national debt. The WSJ hasn't explained why that wouldn't work."

Dr. Michael Hudson, economist

New York

TiM Ed.: Of course, not. It seems quite evident that what's good for the bankers (not the taxpayers) is also good for the WSJ.

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U.S./(state unknown): HOW WILL THE UNBORN REVOLT?

U.S. (state unknown) - I, too, was astounded by the WSJ article claiming that we are running a surplus. Can I pay my Master card with my Visa? Absolutely! But only for a while. Especially when you can count income and convert debt to even more income!

A significant part of the smoke and mirrors is how the Social Security "surplus" is dealt with. Using the figures from a few years ago, SS brings in approx. 500,000,000,000 of which 380,000,000,000 are immediately spent on SS. The remaining 120,000,000,000 is claimed as a surplus and immediately spent on other government programs - but there are 120,000,000,000 in IOU's (T-bills if you prefer the official name) generated to keep the SS "trust fund" Fully funded. Later when these mature the taxpayer is again placed on the chopping block to pay off the principal - and new interest created by the Maturing T-bills.

The real smoke is that the T-bills are counted as a government asset and not a debt instrument to the tax payer. The reality is the younger taxpayers will be paying twice and still the "trust fund" will still be depleted.

As Ross Perot pointed out in the President's 1995 budget report - page 25, the children being born that year were expected to pay 82% income tax when they started working. That's 60% of their income. I know of nothing that has really fixed that other than removing the projection from the report.

We have been spending more on the interest of the debt than we spend on the legitimate, military end of government. This condition could only come into being by a continuous series of administrations who constantly expanded the programs - to buy the vote with other taxpayers money. Even if some of those don't exist yet. Talk about taxation with out representation! How are the children not yet born, whom we are burdening with debt, going to revolt against the economic slavery that the folly of our generation is leaving for them?

Martin Thomas

(state unknown)

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U.S./(state unknown): LET US JOIN YOU IN BARRAGE AT THE WSJ!

U.S. (state unknown) - Mr. Djurdjevic, I admire your letter to the Wall Street Journal. They are PAID to lie. Their reporters have to reflect what the boss wants. The smart, corrupt reporters intuit what the drift of the system is. You cannot hope to make them see reason without a campaign of letters FALLING in on them when they do a particularly outrageous article.

So ask us, your dedicated fans, to JOIN you in such a barrage. I can't afford the Journal and no longer live in the GOOD NEIGHBORHOOD where I used to see them arrive at 4 a.m., and read them carefully (I was researching Mad Cow). Had to move. Didn't have the rent for that area. I'm super aware of the declining standard of living as inflation deepens and the qualify of life suffers from being in hock to Stepfather bank.

Anita Sands

(state unknown)

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A Letter from Cyprus: European Court Rules Against Turkey (July 28, 1998)

CYPRUS: TURKEY CONVICTED OF HUMAN RIGHTS VIOLATION

CYPRUS - On the 28th July 1998, the legal battle of Titina Loizidou v. Turkey in the European Court of Human Rights came to a satisfying end - as far as individual human rights are concerned. The battle ended with a final decision of the Court ordering Turkey to submit specified sums to the injured party. The legal battle for Titina Loizidou began in 1989, when Turkish military forces, which currently occupy 38% of Cypriot land, disallowed Ms. Loizidou, a Greek Cypriot citizen, from entering land which was legally hers.

With this unique and important legal recognition of individual human rights in Cyprus established, the road is now open for any similar cases, either in the instance of occupied Cyprus or in those of similar illegal withholding of land by its rightful owners. While observers of this case await the implementation of the Court's decision by the Council of Ministers (and indeed the options available, should Turkey fail to adhere to the ECHR's ruling) an analysis of the legal and political implications of this European legal precedent seems prudent.

The facts of the case need to be outlined in the light of the important European legal realities that they recognize: the European Court of Human Rights found Turkey (and not the so called Turkish Republic of Northern Cyprus, which the court described as a "subordinate local administration") guilty of preventing Titina Loizidou, the legal owner of Greek Cypriot land in the northern part of Cyprus from gaining access to, and peacefully enjoying her property. While recognizing Loizidou as the rightful owner of territory which since 1974 has been under the overall control of the Turkish military, the court ordered Turkey to pay a total amount of 457 000 CYP (900 000 USD) for the 8 year loss of enjoyment that Loizidou has suffered since Turkey finally recognized the jurisdiction of the ECHR in 1990.

Turkey is now responsible for paying the total amount within 3 months of the ECHR judgment.

The first and most important conclusion that this ECHR decision establishes, is the power that the individual may acquire vis-a-vis the state, and in this specific case a state that abuses one's basic human rights: free movement and settlement, enjoyment of property and exercise of property rights. In the context of the Loizidou v. Turkey decision, a legal precedent is created on a European level, by which 200 000 Greek Cypriot refugees could be offered through similar legal proceedings, compensation for the inability to exercise their property rights in the northern part of Cyprus. This could prove a huge political and economic dilemma for Turkey, whose human rights violations in Cyprus can at last be measured in real, monetary terms. While the Turkish occupation of Cyprus continues, Turkey will be brought to the European Court of Human Rights time and again, for its abuse of basic human rights on the island, be them those of Greek or Turkish Cypriots ( case of Ahmet Djavit An v. Turkey).

The Loizidou v. Turkey decision could also be judged in political terms, although the case has well kept itself away from the complicated politics that have for 24 years surrounded the Cyprus problem. Turkey has been charged through this trial with a form of war reparations, described in her responsibility for the loss of use and revenue that the Greek Cypriot legal owner of the land has suffered. This case serves therefore as a strong legal precedent for similar instances observed in the case of the Bosnian war (and its infamous ethnic cleansing legacies) and in the Israeli-Palestinian conflict, where Palestinian Arabs who forcibly fled their homes in 1948 and again in 1967 no longer have access to their land.

Domestically, the Loizidou v. Turkey judgment serves as a firm legal stronghold in attempts to solve the Cyprus problem: whatever the political solution may be, the rightful owners of land in the northern part of Cyprus can only be absolved of their property rights when they themselves decide to surrender that land. Possible endeavors by the negotiating parties to reach a land settlement can not ignore now the reality of land ownership nor can Turkey be relieved of her monetary debts towards the citizens whose land it has illegally withheld for 24 years. The bearing of such a European Court ruling stands in the way of any such attempts at a political solution.

Last but not least is the re-affirmation that this court ruling has offered to the numerous UN Security Council resolutions, calling for Turkey to withdraw its illegal military presence in northern Cyprus and allow for the return of the forcibly expelled population, that is the refugees. The bearing of such a European Court ruling stands as a powerful means of ensuring that the rights of the citizens of Cyprus are neither sidelined nor postponed for the benefits of a prompt and impartial political solution.

Eleni Apeyitou

Cyprus

TiM Ed.: Now, if the same justice were applied to all the hundreds of thousands of Serbs who have lost their land to Croatian and/or Muslim occupation in Croatia and Bosnia, my... this European court could be kept busy for the next century (given that it took almost 10 years to render this Cyprus judgment).

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A Letter from South Africa: Beware Clinton's Friends

SOUTH AFRICA: RED CARPET FOR A COMMUNIST AT THE WHITE HOUSE

SOUTH AFRICA - Mr Djurdjevic, it may be of interest that at the present time (Aug. 7), our vice president, Mr. Thabo Mbeki, is visiting the USA And is being given the red carpet treatment. Even with the present difficulties Mr. Bill Clinton has given Mbeki a lot of time, as has Mr. Hammer's protégé Al Gore.

Mr Mbeki is an interesting man. He was a lifelong member of the Communist Party (as was his father) who dropped his membership shortly before returning back from exile. He has swallowed the present 'NWO' party line whole and SA now has gone from one of the most dirigiste economies to one of the most open (causing incredible pains to the economy-including my own loss of job) and the economy is struggling to grow at even 1-2%, which is bad news since we have a 40% unemployment rate and a population growing at present 2.2%pa-(that will change shortly but that is another letter if you are interested).

The closeness of the relationship could be seen by the common expressions used by Clinton when he was here and spoke of an "African renaissance." Who originated the expression the State Dept., or the SA government, would actually be something of interest?

Mbeki is also the active mover behind the employment equity bill (I call it the ethnic cleansing bill) which forces compulsory racial quotas on all companies over 50 employees and whopping fines.

From a personal contact, my cousin teaches the daughter (black) of one of Mbeki's close friends. She came to her one day and said, "I feel sorry for you whites, because when my father and Mr. Mbeki get together, they talk about how much they hate the whites, and what they will do to get them." Also from my cousin came the story that Mbeki also has a few Lewinski-like skeletons in the cupboard that the very polite press in SA have been very, very coy in talking about.

No wonder Mr. Clinton and our future leader get on so well; they have an awful lot in common.

John Taylor

South Africa

P.S. Marxist/Fabians have always a four-fold agenda: the transformation of social, economic, political and religious relationships (a complete transformation of human affairs). They have presently dropped the abolition of private property, but they are trying to achieve the same results by legislating around its social agenda. They are using the rule of law to destroy freedom under the law. They are using education to make sure that no man is educated (to think and act outside of their agenda)

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From TiM's "Ostrich of the Month" Award...

  ...To TiM's "Letter of the Month" Fan Mail

PHOENIX - Again, no "Ostrich of the Month" award for September! Looks like TiM education may be working. Or "ostriches" may be vacationing... J Whatever the explanation, we are pleased. So instead of our "Ostrich of the Month" piece, we are bringing you this time a "Letter of the Month" fan mail:

U.S. (state unknown) - To Bob D: When you write about the "Big Business financial elite, the Princes of the 20th Century," I am reminded of biblical references to Tyre, a city "whose merchants are princes." (Isaiah 23:8) Is there any connection between biblical merchant princes and 20th century business princes? Perhaps.

One of the bible's interesting characteristics is that scripture about ancient, fulfilled prophecy can also be about prophecy not yet fulfilled. For example, Isaiah 23:17 tells us that " ... Tyre ... shall commit fornication with all the kingdoms of the world upon the face of the earth." Ancient Tyre did not interact with ALL of the countries on earth, so biblical Tyre must be a metaphor for another city, which will someday interact with all of the countries on the earth.

Can we identify biblical Tyre? Perhaps. The bible, speaking of the city of Nineveh, refers to "the multitude of the whoredoms of the well favoured harlot ... that selleth nations through her whoredoms ...." (Nahum 3:4) That sounds a lot like the fornicating city of Tyre. Nahum 3:16, referring to Niniveh, says "Thou (Niniveh) hast multiplied thy merchants above the stars of heaven ...." That sounds like the merchant princes of Tyre.

Similarly, Revelation 17:2 speaks of Babylon, "With whom the kings of the earth have committed fornication, and the inhabitants of the earth have been made drunk with the wine of her fornication." Babylon's "merchants were the great men of the earth," (Rev 18:23) and Babylon "is that great city, which reigneth over the kings of the earth." (Rev 17:18) We know ancient Babylon didn't reign over the earth, so it must be some future "Babylon."

Revelation further ties metaphorical Babylon to merchants:

Rev 18:3 "the merchants of the earth are waxed rich through" Babylon.

Rev 18:15 "the earth's "merchants ... were made rich by her."

In my opinion, the scriptures which I've cited above could very well be referring to New York City and the 20th century merchant Princes. So, what's the point of all this? I dunno. I just thought it's interesting that you and God seem to see things in a similar sort of way.

Vincent J. Fulton

(state unknown)

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For Your Smile... J

A reaction to "Was Compaq's Presario Pressed into Service Too Soon?" (TiM GW Bulletin 98/9-1, 9/06/98)

U.S./Kansas: PORSCHE-CUPINE!

KANSAS - Having a Porsche when you live on a rutted, dirt road is a closer metaphor to my situation. How's the highway you're driving on?

Being a Porsche owner since 1974, I often hear "Porsche" jokes... Q: "What's the difference between a porcupine and a Porsche?" A: "With a porcupine, the pricks are on the outside."

I don't get much chance for frivolity, given the situations our Constitution and country are in right now. Thanks for the opening!

Tim Kern

Kansas

(Mr. Kern is the host of the radio show "Tim Kern, Talking Sense", M-F from 6-7AM Central, www.amerifree.com; and of the TV show ("River City Forum") on Monday evenings, 8-9PM Central, at www.kctu.com. Both are also carried on commercial stations and on satellite).

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Also, check out other TiM READERS' FORUMS... April 1998, May 1998, Part I May 1998, Part II, June 1998, July 1998, August 1998, September 1998, October 1998, November 1998, December 1998, Part I, December 1998, Part II