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.lt goes without saying that they are the mostimportant Communist agents in history.Or perhaps it would be more accurate to define the Communistsas Rockefeller agents?An increasingly important tool for the looting of America by the Rockefellers and their cohorts is theExport-Import Bank, known as Eximbank.lt was established in 1934 to finance and promote trade withthe Soviet Union.But it wasn't until Richard Nixon signed a -Presidential Determination- on October 18,1972, that the Eximbank began to finance trade with the Soviets.The process by which the Eximbank works is simple enough.An US exporter goes to his own bank,which makes arrangements for the Eximbank to loan money to the exporter's foreign buyer.Eximbankthen grants a credit to the American bank, which in turn pays the US exporter.Thus the exporter isimmediately paid, the American bank is cut in on the deal, and the foreign importer gets a subsidizedinterest rate.Who pays the interest subsidy? You hardly need ask.The US taxpayer pays it through Treasury grants to the Eximbank.While most Americans consider themselves lucky if they can arrange to borrow moneyfor less than twelve % interest, and even the prime rate (the rate at which the largest Americancorporations with the best credit rating can borrow) is as high as ten %, the Eximbank has been makingloans to foreigners at six % interest.The difference is a four % subsidy to any foreigner who buys ourgoods.What happens if the foreign buyer defaults? Auf Wiedersehen.Adios.Sayonara.If the customer sneaksout of the restaurant without paying the check, the waiter puts the arm on the American taxpayer who,once again, picks up the tab.How would you like to be in a business in which the government paid youin full for all sales and accepted the responsibility for collecting all accounts receivable? As the lateGeneral Thomas Lane noted:In this system, the U.S.exporter has nothing to lose by sales to bad credit risks.The US commercialbank has nothing to lose.The inclination therefore under our profit system is to sell products to anyonewho will sign a loan agreement which you can run by the Eximbank.Irresponsibility is rewarded.It is an old story.Public money is nobody's money.As a sense of civic responsibility declines, the publicmoney is used to private advantage [often the Rockefellers].As with other free enterprisers, we favor foreign trade.But when American exporters ask the taxpayersto take the risks while they take a guaranteed profit, it is not trade but looting.lt is as though you werean automobile dealer with an exclusive to sell Cadillacs to deadbeats in Chad, and you had a guaranteethat American taxpayers would make all payments the Chads defaulted.Assuredly, you could" sell-a lotof cars that way.You could unload every Cadillac General Motors could produce! And you wouldn'tcare a fig whether the customer ever pays for the car.Shortly after the May 1972 Summit Conference in Moscow, the Nixon Administration began pushing toextend the credit of the US taxpayers directly to the Soviets.As part of the Nixon-Kissinger détente,Congress was to extend to the Bolsheviks tariff status as a " Most Favored Nation,- and Eximbank loanswere to be arranged for the transfer of the most advanced American technology to Russia and for thedevelopment of Soviet energy sources.A UPI release dated July 17, 1973,provides the explanationDavid Rockefeller gave for such outrages:David Rockefeller, board chairman of Chase Manhattan Bank, urged Congress Tuesday to grant mostfavored nation trading status to the Soviet Union, claiming the move could help slow the arms race."The desire of the Soviets to use Western trade, credits and technology to bolster their own economyhopefully could be accompanied by their giving lower priority to military programs," Rockefellertestified."We haven't stopped the arms race by withholding exports (in the past)," he said.David told an audience in Rome that he would replace the Iron Curtain with" a plate-glass curtain." Heclaimed -Better communication and then understanding through expanding trade are ingredients ofworld peace
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