-Caveat Lector- http://www.haaretzdaily.com/hasen/pages/ShArt.jhtml?itemNo=250941&contrassID=1&; subContrassID=4&sbSubContrassID=0&listSrc=Y
Last update - 10:18 12/01/2003 `U.S. guarantees reflect bankruptcy' By Guy Rolnik and Meirav Arlosoroff The government's application to the United States for loan guarantees reflects the country's dire economic situation, former finance minister Avraham Shochat told Ha'aretz. "This application is one of the heaviest indicators for Israel's weakness in the international markets. In the 1990s Israel needed guarantees because it had to absorb massive immigration and did not have sufficient foreign exchange reserves. Now the story is different, because we have large forex reserves. The reason for the current application is the dire economic crisis and the high interests charged from the government both in Israel and abroad," Shochat explained. "The guarantee is intended to finance the deficit and repay $12-$13 billion over the next three years. Namely, in terms of being able to secure and repay loans, we have reached bankruptcy. The public should know this will not boost the economy; the guarantees are like oxygen for an economy that is in bad condition." Israel has asked the U.S. administration for guarantees to secure $8 billion in the U.S. bonds market. In addition, Israel asked for special defense aid of $4 billion. Although the security aid is justifiable and needed, Shochat said, Israel must be aware of its drawbacks: "The Defense Ministry has a surplus of foreign exchange and a shortage of shekels. Let's say we get another billion dollars - we'll have lots of dollars, and the IDF will buy even less in Israel and start directing even R&D budgets to the U.S. This will certainly have an adverse effect on Israel's economy." The treasury would not comment. A<:>E<:>R ~~~~~~~~~~~~~~~~~~~~ Forwarded for your information. The text and intent of the article has to stand on its own merits. Therefore, unless I am a first-hand witness to any event described, I cannot attest to its validity. ~~~~~~~~~~~~~~~~~~~~ In accordance with Title 17 U.S.C. section 107, this material is distributed without charge or profit to those who have expressed a prior interest in receiving this type of information for non-profit research and educational purposes only. ~~~~~~~~~~~~~~~~~~~~ "Do not believe in anything simply because you have heard it. Do not believe simply because it has been handed down for many generations. Do not believe in anything simply because it is spoken and rumoured by many. Do not believe in anything simply because it is written in Holy Scriptures. Do not believe in anything merely on the authority of teachers, elders or wise men. Believe only after careful observation and analysis, when you find that it agrees with reason and is conducive to the good and benefit of one and all. Then accept it and live up to it." The Buddha on Belief, from the Kalama Sutra <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, mis- directions and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/";>ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
