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1553455
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May 17, 1976 - Ford, Rockefeller, Scowcroft
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1553455
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document
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May 17, 1976 - Ford, Rockefeller, Scowcroft
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Memoranda of Conversations (Nixon and Ford Administrations)
Ford Administration Memoranda of Conversations
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Italy
Michigan
Soviet Union
Presidential campaign, 1976
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1976-05-17
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1976
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1976-05-17
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5
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1976
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File scanned from the National Security Adviser's Memoranda of Conversation Collection at the Gerald R. Ford Presidential Library
MEMORANDUM
THE WHITE HOUSE
WASHINGTON
SEGRET/NODIS/XGDS
MEMORANDUM OF CONVERSATION
PARTICIPANTS:
President Ford
Vice President Rockefeller
Brent Scowcroft, Assistant to
the President for National Security
Affairs
DATE AND TIME:
Monday, May 17, 1976
2:05 - 3:00 p.m.
PLACE:
The Oval Office
[Following a briefing and discussion on Italian earthquake aid]
Vice President: The Foreign Minister said they were right down to the
wire on the elections. They thought they could do it, but they urgently
needed funds. Also they had used up most of their foreign exchange.
3/12/04
Arthur Burns rode back with me. He said Schmidt proposed a
$2 billion loan from the Economic Community and the US on the condition
-- which would be secret -- that they take no communists into the
government, and then get OECD to help with an economic and financial
plug. Schmidt thinks they need help and guidance.
is no way to do it before the elections. He has $250 million he can use,
DECLASSIFIED
E.O. 12958, SEC. 3.5
MARS DATE 7/26/04
President: You are talking about Rambouillet II?
Vice President: Yes. Burns said that it would take a lot of doing and there
but Congress may then add restrictions on the Federal Reserve. It could,
though, be done through the Exchange Stabilization Fund, but Simon doesn't
want to. Or we could loan against gold at the current market value.
Treasury lawyers say we could only loan at formal value. All this would
take is for Trasury to change its position.
President: Can this be coordinated with the Europeans? What would it
NSC
BY
be for?
CLASSIFIED BY HENRY A. KISSINGER
SEGRET/NODIS/XGDS
EXEMPT FROM GENERAL DECLASSIFICATION
SCHEDULE OF BE UTIVE ORDER 11652
PARKINGTON CATEGORY 5 (b) (1-3)
DOMATICALLY DELLASS FIRD ON Imp. to det.
-2-
SECRET/NODIS/XGDS
Vice President: It can't be done before the elections. It would just
be an exchange loan.
Also the 40 Committee has some money.
Scowcroft: [Described the situation with the $6 million. ]
President: Let's look into that.
Scowcroft: We would have to restructure any program. What we proposed
was for a year or more and for specific projects rather than the parties
themselves.
President: What about what Connally is doing?
Scowcroft: He's organized a private group of Italian-Americans.
President: If we do something, we have to make sure that the funds don't
get into the wrong pockets.
Vice President: The $1 billion against gold or a sto-gap measure looks
good to me.
President: How do we look into it?
Scowcroft: I will have someone look into it.
Vice President: The Soviet Union has reacted strongly to my speech.
President: You are getting to be a hard-liner.
Vice President: It was well received in Berlin and Germany. They printed
it up beforehand, so they knew what was in it. They applauded at all the
tough points. I had nothing but good reactions.
President: I had a good trip. The reaction was really good and I can't
help feel it will be reflected in the results. After a seven hour train ride
we heloed to Holland for the tulip festival. There wer e 300,000 people in a
town of 25, 000, even in a light rain. No one knows how the crossovers will
fall, but Broder thinks I will get 50% of the Wallaceites. And we will get
some liberal Democrats. I will be goddamned disappointed if it isn't 55%
and I hope for 60%.
SEGRET/NODIS/XGDS
-3-
SEGRET/NODIS/XGDS
Vice President: I talked to this Rabbi as you said the mood was
changing, that something had to be done and the Israelis couldn't do
it. He said he would like to think over what approach could be right
and will get back to us. They are very afraid.
SEGRET/NODIS/XGDS
form
2
P/UP
17 mg 76
(Forming birping + discussion on Italian enviroperator aid)
VP Thefra f they use right drawn the wine
on C elethis. Tht this could do it, but request
unded find. also an had will ry met
of chair Fr xchange
arthor Bruns your back or/ hnd, paid Schint
progred 2 bil loon from Ec +us on condition
(rent) no unsts into Great + then OECD get why
w/e.on & friencial plug. Schindt thinks
they need help r guidance.
P you Cathain dont Kerwandlet II?
VP yes. Beneis said that arould Cahr a let of dring
t then no way to do it before electrons
them add F restricting on FRB. Itemuld though
He has 250 mil he can use, but Cony may
be done then Xchmge stabiling tn find, but
Sincer doesn't wont to we could lorn against
gold at enrent market value. Treasury lawyers
say are could my lon at formal value. all
this would tab is for Treasery to change its postmer
P Canth's be corl w/EM? What would at he
for?
VP emit lie In before electrons. It would just
be on Kchange lown.
S (Described c 6 into it)
also - 40 Unite has now money
P Lite born into that,
S We would have to restructions any prog. what
we proposed was for a r or mare T. for specific
which within ther parties therefores
P what about what Country is doing
S (Descibel lifely)
P If and lo something we have mope sever
DECLASSIFIED
E.O. 12958, SEC. 3.5
BY Can
NSC MEMO, 11/24/99, STATE DEPT. GUIDELINES state Diview 3/12/04
NARA, DATE 7/26/04
LA Spench
that e fromb don't yet into - wrong poshits.
A
VP The 1 hil cepairt gold or a stz-goy missure
broke good to me,
P
Har do an look into it? ?
5
& will have would both into it.
VP
The SU has reacted though Z my
P
you getting The a hand lines.
UP
It was will recd in Berting Germany They
finital it my beforehond, so they hnew what
eros in it. They applanche lall, one than, 26
restrins. paints. that nothing int gold
P I hnd a good trip. The Nu time are well good
and I can't help ful it will be uphited in -
results. after hn trin rich we helard to
Hollml pr teship a 300 000 proph in true
of 2 5000, enn in a regist in
Women no one him how c Clossrons will fall,
hat Brien thinks devill get 50% of Wakantis,
and are will jet some lila, Desiro
swill he G-D discription if it exit 55%
I hype for 602
Up & Talked to this Robbi your goid & could
He said C unread any changing, that something
had to h lone X.C I couldn't do it. Said hecened
the to think and what approvate crould be cight &
will get be h to no, they are very apindof