The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret

Failure was not an option.

It was July 1974. A steady predawn drizzle had given way to overcast skies when William Simon, newly appointed U.S. Treasury secretary, and his deputy, Gerry Parsky, stepped onto an 8 a.m. flight from Andrews Air Force Base. On board, the mood was tense. That year, the oil crisis had hit home. An embargo by OPEC’s Arab nations—payback for U.S. military aid to the Israelis during the Yom Kippur War—quadrupled oil prices. Inflation soared, the stock market crashed, and the U.S. economy was in a tailspin.

Officially, Simon’s two-week trip was billed as a tour of economic diplomacy across Europe and the Middle East, full of the customary meet-and-greets and evening banquets. But the real mission, kept in strict confidence within President Richard Nixon’s inner circle, would take place during a four-day layover in the coastal city of Jeddah, Saudi Arabia.

The goal: neutralize crude oil as an economic weapon and find a way to persuade a hostile kingdom to finance America’s widening deficit with its newfound petrodollar wealth. And according to Parsky, Nixon made clear there was simply no coming back empty-handed. Failure would not only jeopardize America’s financial health but could also give the Soviet Union an opening to make further inroads into the Arab world.

It “wasn’t a question of whether it could be done or it couldn’t be done,” said Parsky, 73, one of the few officials with Simon during the Saudi talks...

http://www.bloomberg.com/news/features/2016-05-30/the-untold-story-behind-saudi-arabia-s-41-year-u-s-debt-secret

Document Reveals that Nixon Attempted My Lai Massacre Cover-Up

This past week marked the 46th anniversary of the My Lai massacre, in which 504 unarmed Vietnamese civilians were massacred by U.S. troops in 1968. It’s one of the most shameful chapters in American military history, and now documents held at the Nixon Presidential Library paint a disturbing picture of what happened inside the Nixon administration after news of the massacre broke.

The documents, mostly hand-written notes from Nixon’s meetings with his chief of staff H.R. “Bob” Haldeman, lead some historians to conclude that President Richard Nixon was behind the attempt to sabotage the My Lai trials and cover up what was becoming a public-relations disaster for his administration.

One document, scribbled by Haldeman during his Dec. 1, 1969, meeting with Nixon, reads like a threatening to-do list under the headline “Task force – My Lai.” Haldeman wrote “dirty tricks” (with the clarification that those tricks be “not too high a level”) and “discredit one witness,” in order to “keep working on the problem.”

http://www.constantinereport.com/document-reveals-nixon-attempted-lai-massacre-cover/

In Obama’s war on leaks, reporters fight back

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