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Technology Stocks : REFERENCE

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To: C.K. Houston who wrote (370)3/20/1999 11:54:00 AM
From: C.K. Houston  Read Replies (1) of 411
 
PANAMA CANAL & CHINA CONNECTION:
We have a far more serious problem than Y2K with Panama Canal come Jan 1:-(
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Don't know if many realize this ...

Admiral Thomas H. Moorer, USN (Ret.), a former chairman of the Joint Chiefs of Staff, warned the Senate Foreign Relations Committee in closed session last summer ...

"I'm an old sailor now, but I know trouble when I see it, and Mr. Chairman and distinguished members of this committee, I see big trouble in Panama -- trouble that could evolve quickly into a conflict in our own hemisphere with world-wide implications," said Moorer. "Mr. Chairman, I speak of the transfer of the Panama Canal to the Panamanian government under the circumstances which now exist. There's far more going on there than meets the eye."

Moorer pointed out that Panama Ports Company (PPC) controls four of Panama's major ports. He identified PPC's principal owners as:

Billionaire Li Ka-Shing (reportedly an ally "as close as lips and teeth" to Beijing, which offered Ka-Shing the governorship of Hong Kong ); Li Ka-Shing owns PPC's parent company, Hutchinson-Whampoa Ltd.,

China Resources Enterprise, an arm of the Chinese government identified as an "agent of espionage" by Sen. Fred Thompson. The entity is also a solid partner with the Lippo Group, owned by the Riady family of Indonesia, also identified as possible espionage agents for the People's Liberation Army.

He also pointed out that ... the company [PPC] has the right to pilot all ships through the canal, raising the specter of the Chinese piloting U.S. Navy ships -- or refusing to -- after the U.S. hands over complete control next year ...

On the strategic importance of the Panama Canal to the U.S. he said: "The canal is the only viable way to transport oil to the East coast and Gulf of Mexico from the West. And in every military conflict -- past, present, or future -- control of the canal has been and will remain an absolutely essential factor. Additionally, in either the Pacific or the Atlantic, the United States must be able to utilize the canal freely and without constraint to transport heavy armor, food, supplies and troops."
worldnetdaily.com

"Anyone who has been involved in logistics planning, where the time of transit from sources of supply to the deployed forces is so critical, knows the dangers faced when chokepoints are controlled by unfriendly forces."

"A major strategic opponent [CHINA] is being given the capability to interfere with our unimpeded ability to use the canal where the national security interests of the United States are concerned."
worldnetdaily.com

FUNNY THING ... in the midst of my posting this, a debate re the above was on Fox's Crier show this AM.

Cheryl

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