Volume 7, Number 8, February 26, 1980



From the Editor-in-Chief

by Daniel Sneider

Editorial Comment

by Nora Hamerman

Iran–Only the Beginning.

Trade Review


The Power Struggle on the Euromarkets

by David Goldman

It is now clear that the Eurodollar markets cannot continue to exist in their present form beyond a few weeks-the Eurobond market is already dead. London, seeking a new form of monetary order based on the “Brandt Commission” recommendations, has taken up strong raw materials positions; Europe, seeking an EMS-backed, gold-backed system, has made an offer to the Arabs. And the knives are out.

International Credit

by Peter Rush

Willy Brandt’s “Dark Age.”


by Alice Roth

New Step Toward Remonetization.

Foreign Exchange

by Richard Katz

“Group of 30” Punts.

Domestic Credit

by Lydia Schulman

Inflation ... Worse To Come.

Jamaica: ‘Waiting for the Situation To Ripen and Rot’

by Carlos Wesley

The International Monetary Fund has “loan renegotiated” Michael Manley’s government into a very deep hole. If Manley falls and the opposition gang takes over, the only growth sector in the Jamaican economy will be marijuana production.

Business Briefs

Special Report

Carter’s Iran Commission: Terrorists Put U.S. on Trial

by Robert Dreyfuss

The Carter administration apparently thought to use a “Commission” under UN auspices as a bargaining chip to have the hostages released in time for the New Hampshire primary. But the “grievances” which the commission, and then, perhaps, a “tribunal” would hear regarding the crimes of the shah and the U.S.A. are all focused against Western technology-and at a stroke, Carter has lent legitimacy to an outlaw government whose principal preoccupation is the training and deployment of international terrorists.

World Terrorism Revamped along the ‘Iran Model’

by Robert Greenberg

A certain Professor Forer has departed for Teheran with 50 American “radicals.”

Iran Civil War Weeks Away

by Robert Dreyfuss


Carter Rebuffs Soviet, European Peace Initiatives

by Konstantin George

Even American hawks are frightened by the way the Carter administration has not only rejected Soviet peace offers and European warnings, but is openly flaunting its provocative “China card” and “Islamic card,” and even threatening a military presence in post-Tito Yugoslavia.

The Soviet Union’s Offer that the U.S. Turned Down

Kennan Warns of War

France: Rift Widens as Giscard Calls Carter’s Bluff

by Vivian Freyre Zoakos

France’s Raymond Offroy Warns of War Danger

An exclusive interview with one of France’s senior statesmen.

India: Gromyko Is Briefed on Gandhi’s Peace Drive

by Daniel Sneider

China: Is the U.S. Building Peking’s Nuclear Capability?

by Daniel Sneider

West Germany: Chancellor Schmidt Presses NATO for Détente Policy

by Rainier Apel

Italy: Showdown Underway at the Christian Democratic Congress

by Umberto Monteverdi (Umberto Pascali)

Italian Expert Sees Nuclear Power Growth

Which Way for Mexico’s Oil Production?

by Elsa Ennis

International Intelligence


The Truth Behind Abscam: Creating a Nazi Judiciary

by L. Wolfe and Paul Goldstein

The two “special FBI operations” code-named Abscam and Brilab appear to be cases of bald entrapment of victimized officials by overzealous undercover operatives. In fact, a conspiracy is operating, in which Council on Foreign Relations news media worked from the outset with Council on Foreign Relations factions in the FBI-no “leaks” were necessary-to create a climate permitting the formation of a Nazi-style judiciary in America.

Neil Welch: Entrapment and Trial by Press

What Is the National Intelligence Act of 1980?

And who are the mobsters in the “Organized Crime Strike-Force”?

Environmental Warfare–Part 1: The New American Indian Wars

To keep American mineral resources under the ground, someone’s been selling guns and whiskey to the tribes.

Congressional Calendar

by Barbara Dreyfuss and Susan Kokinda

National News