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Show vj V' - COLLECT Ww 5V CONSERVATIVE SPEAKS OUT PAGE 8 The Independent Dedicated-T- The Constitution, Liberty, Morality, and Truth o 25C Salt Lake City, Utah 84115 Vol. 8, No. 34 THE CALIFORNIA August 25, 1977 AMK RS Part 7 of WHO REALLY RULES AMERICA? The oldest circle on the West Stephen Betchel, who is a director a big chunk of the rest of the offices. Western Bancorporation Coast is the San Francisco group of both Wells Fargo Bank and economy of rapidly growing with Pacific six directors shares circle This of old Bay Area families, Morgan Guaranty Trust. The San Southern California. and has a large financiers, industrialists and other Francisco group and the Morgan has been locked in some kind of Mutual Insurance The Betchel assorted riff-raf- f. is family one of the kingpins here. The group is centered on three of the biggest San Francisco banks: Crocker-Citizen- s Bank, Wells Fargo Bank and Bank of California. These three banks have combined assets of about S but a much greater proportion is tied up in small retail loans than some of the Eastern banks. Consequently, the San Francisco group controls only a few companies of national stature. These include the Western Pacific Railroad, Del Monte Foods, Crown Zellerbach, Pacific Gas and Electric and some others. The San Francisco group has an important link with the Morgan group through the person of group jointly freeborn T" B5SSJ UTAH INDEPENDENT 57 Oakland Avenue Salt Lake City, Utah 84115 1 Second Claes Postage Pddat MtUbdty. Utah the struggle with the New York banks Greyhound corporation, the major national bus line. Altogether the Bay Area banks appear to be closest to the Morgan group than any other Eastern group. But also they have been forging even closer ties with the Bank of America group. the Although Bank of America is the largest bank, in terms of wholesale financial power it is not even in the same league as the six big New for over four decades. York including: United California Bank, the fifth largest in that state; First National Bank of Arizona, First National Bank of Oregon (each the second largest in those two states); the biggest bank in Nevada and 19 other banks in the West with 593 524-billi- wholesale on banks. Nevertheless, the bank has built up an empire and a system of alliances that put it in a strategic, if not threatening, position. The group headed by the Bank of America controls the financial structure and Zhc IHcralb of control Despite some reverses in those struggles, its strategic position in Southern California seemingly assures it a future. In the complex interlock of the key financial institutions of the Bank of America circle, an important position is held by Western Bancorporation, the Bank of nation's biggest bank holding interlocked America also is with Transamerica Western Corporation, which owns a series company. Bancorporation owns 24 banks, of insurance, finance and other . f .1. :.j -- : fr. .n c: ; : corporations: Bank of America, Western Bancorporation, Security First National, Union Bank, Pacific Mutual, Transamerica and Investment Corporation Company of America. The Bank of America circle controls a number of industrial corporations, Lockheed Aircraft, Litton Industries, Getty Oil, Union Oil, Southern California Edison, the Kaiser companies, Times-MirrCorp. and others. (See Appendix) (to be printed at the end of this series. Ed.) In addition the Bank of America circle operates jointly with the San Francisco group in Safeway Stores and the Southern Pacific Railroad. It shares control including or United including companies, Artists movie studios. Transamerica set up Western with Bancorporation to own its banks of in the first place and was set up the Morgan group. Through itself in the thirties by the owners of Western Bancorporation. the Continued on page 1 1 Bank of America. What emerges is North-American-Rockw- ell THE COMMUNIZATION OF AFRICA After years of methodical planning and coorSoviet plans to take over dination, the long-rang- e the African governments are beginning to bear fruit. The secret outlawed Communist Party of Portugal, which eventually brought about the downfall of the government there had covert aid from Communist agents, sympathizers and supporters in many countries, and financial support and detailed direction from Moscow. The same agents, friends, and contacts throughout the world thereafter demanded the independence of Mozambique and Angola while, at the same time, supplying trained leaders, weapons, and money for the guerrilla movements in both countries. The result the complete Communist takeover of the former Portuguese colonies of Mozambique and Angola. Soviet plans in Africa were detailed in a report produced by intelligence sources and journalists and researchers in England. Portions of the report follow. Angola today cannot be objectively described as an independent country. Control of its armed forces, its secret police, its economy, its civil administration and its educational system is in the hands of Russians, Cubans and East Europeans, and the MPLA itself is being remoulded into an orthodox Communist party. The Cuban garrisons are the basic guarantee that the regime will not only survive but toe the line. The Cubans have divided Angola into six military regions, with garrisons in the major towns. Five major mopping-u- p operations have forces been launched against the anti-Commun- ist anti-Ccmuiun- - bloc of its stock owned by Investment Co. of America and its American Mutual Fund, the two of which also share three directors Pacific with Pacific Mutual. Mutual and Investment Co. of America are closely interlocked with Bank of America, Security First National (the number two California bank) and Union Bank. a closed circle of key financial anti-Commun- ' . t ist ist since the South Africans withdrew, but despite the savagery with which the Cubans and the MPLA have dealt with the civil population large swathes of Angola are still contested zones. The continued flight of refugees over the 1,200-mi- le border of South-We- st Africa is an eloquent comment on the way the people of southern Angola regard their new masters. Some 10,000 have been absorbed into South-We- st Africa. A conservative intelligence estimate has 3,700 Cuban troops currently in the central-westeregion, embracing Lobito, Huambo (formerly Nova Lisboa) and Bie (formerly Silva Porto); 2,000 in each of the northern, eastern and southern regions; and 3,000 in the Cabinda enclave, where some of the fiercest Fighting is taking place. There are at least 1,500 Cuban troops in Luanda. This gives a total of about 14,000 of whom 6,000 are infantry. The Cuban forces include an armoured regiment with 120 4 and T-tanks and 1,900 men, an armoured car regiment with 70 Soviet-mad- e BRDM vehicles and 1,600 men, an ft battalion and five regiments equipped s. with The Cubans are also the key element in the new Angolan air force. They pilot all of the MPLAs Soviet-suppliplanes, which include a dozen MiG-2- 1 s, 10 MiG-17- s, helicopters, and Antanov-- 2 light transport planes. They also pilot some of the scores of light aircraft that were bequeathed by the Portuguese forces. Cubans command the air bases throughout Angola, and are supervising the construction of new air bases at Huambo, Mocamedes rn T-5- anti-aircra- multi-barrell- ed rocket-launcher- ed Continued on page 6 34 |