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October
1, 2002 |
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Volume
V, Issue 74 |
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Email : info@otcjournal.com
URL : http://www.otcjournal.com
To
OTC Journal Members:
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Dear Mr. President-
Follow Up Edition |
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As we suspected, this past weekend's
edition, our letter to President Bush concerning the possibility of pending
conflict with Iraq, sparked a great deal of controversy and some emotional
responses. If you missed our September
28th edition, click
here to read it. Next weekend's edition will also be a blockbuster,
but not nearly as controversial and much more humorous.
The letter was biased for the argument
in favor of avoiding war. We cited some of the evidence critics are using
against the President's case which concerns a potential conflict of interest
due to his and Vice President Cheney's well documented roots in the oil
industry. We were forewarned by one reader to expect an IRS Audit.
We asked people for their thoughts
and received hundreds of responses, many very strongly worded. People are
decisive on this issue. They have made up their minds, and are not afraid
to share their thoughts. It took about six hours to go through them all
and tally the results. Not surprisingly we learned the opinions of OTC
Journal readers who were willing to respond were split right down the
middle. 51% sent in emails suggesting they were against war, 49%
were in favor of war.
Although hardly a scientific poll,
this is probably reflective of nationwide sentiment. In fairness to both
sides, here are several of the well written responses we received which
succinctly reflected the feelings of most people in favor of aggressive
action against Iraq:
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Comments
From Our Readers Supporting President Bush |
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Steven S. Comments:
| As significant as
are the issues you present in your letter to President Bush, they pale
in comparison to what is currently at risk. They pale to the point that
they could some day in the not-too-distant future not matter at all.
Saddam Hussein can
already wreck havoc with the mass killing weapons he has, and with which
he has already demonstrated an unreasonable willingness to use. Stopping
him now will not be easy and the price could be high. If Hussein gets nuclear
weapons, that price will be much higher. Hussein could use a nuclear weapons
threat to hold the U.S. and all other nations at bay while he forcefully
takes over a swath of countries from west of China all the way across the
top of Africa. He could do this with acts of terrorism and eventually all
out military invasion (possibly with China's assistance).
Hussein routinely
kills dozens of his own leaders in order to relieve his paranoia. Hussein
is perfectly willing to sacrifice the majority of his own citizens if necessary
for him to pursue his madness. Hussein's use of biological weapons could
kill millions, not just in the U.S., but worldwide a larger death toll
than ever before in history.
We, as U.S. citizens,
and all other nations could never again know life without the constant
threat of frequent terrorist events in our own cities, towns and neighborhoods.
Debate is good and
necessary for our freedoms to survive. But, in the end, we must have the
wisdom and courage to defend ourselves and our view of what worldwide life
could be without the cruelty, injustice and greed that many times exist
today. If we don't have this wisdom and courage, we and the world's citizens
and our descendants for many generations to come may have little chance
of living in a manner that we can develop to our fullest potential as individuals
and contribute to moving civilization forward in a manner that serves every
individual and every group.
Using our current
petty interests in an attempt to hold our government at bay can only work
to support Hussein's threats. We must set aside our special interests and
look at the long term with wisdom and courage if we, our way of life and
our view of an even better future are to survive nothing less than all
of this is at stake.
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Here is another well written
reply from Craig W:
Sir,
One of the difficulties of investing as with other aspects of life, is
the inability to answer with absolute certainty the results of a chosen
course of action. However, evaluating past experience in somewhat
similar circumstances we tend to build a range of choices which seem reasonably
certain to give a positive outcomes in the present. Investing also calls
for "pain" in the diversion of funds from availability for immediate consumption
looking towards future gain. Of necessity, we compare short term risks
and loss in the desire for long term results.
Evaluating Saddam Hussein from the lens of loss and gain, it seems apparent
that from his past actions, (chemical weapons "used" against citizens of
his own country; invasion of Kuwait and attempted invasion of Iran,
funding & training of Palestinian terrorism), his stated intentions
(including the declaration that the war with the great satan is not over)
makes for a very unstable Mid east and a dangerous future for all countries.
So our economy continues to tank. So be it for now. Economies regain strength,
but lives lost cannot. Mr. President, take the time necessary to
minimize casualties as we carry a war forced on us to one of the primary
sources of Terror. Our economy will eventually recover, if protected
from weapons of mass destruction.
However, given sufficient time who can doubt Saddam will act in line with
his stated intention. What state will our economy be in then? Let's do
it right this time with no half measures. |
Jerry W. reflects the simple
sentiment of many readers:
| You have to look
back to the Gulf War. Where were oil prices after the war?
Think about it. Our choices today might be $1.75/gal. at the pump
today for $1.00/gal. in 2003 (after Iraq regime change) or $1.50/gal. prices
at the pump today and another Hitler(with nuclear capabilities, no less)
looking for his next victim. It's just my opinion, but I would prefer
to sacrifice another few months of higher oil prices to the death and destruction
that would come to many as an alternative. To me, the choice is obvious.
I believe the President shares this thinking.
Where's your heart?
Is it in your pocket book, or where it belongs?
Let freedom reign. |
And Finally, from John E- Point
well taken John
Dear OTC Jounal
Many of your points are true in your eyes as you see them I am sure, and
I agree with some of what you say. But I am not interested in your political
views or how you want to communicate with the president. I have other sources
I can access for information like this that I prefer to use, and I can
write my own letters to the president or any other politician I wish to.
I do let the politicians know what I think when I feel the need, and keep
links to such access in my favorites list.
I would suggest you keep your political views to yourself and stick to
the stock markets and companies within. With the knowledge you believe
yourself to possess you should be able to make huge profits in the oil,
gas, and energy related stocks and commodities markets. In other words,
put your money where your mouth is! |
*Special note to those who sent specific
objections to our emailing the letter on their behalf: We did not email
it to the President. We provided his email address as found at www.whitehouse.gov
in case you wished to forward it on your own behalf.
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The
Argument Against Attacking Iraq- The View of a Congressman From Texas |
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Congressman Ron Paul, a Texas, is
opposed to war with Iraq. His September 9th column, published on his web
site found at www.house.gov/paul
is as follows:
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IMPORTANT QUESTIONS
ABOUT WAR IN IRAQ
As Congress reconvenes
this week, the possibility of war with Iraq looms larger than ever. I believe
the Constitution clearly requires a declaration of war by Congress before
a military invasion of Iraq can take place. I also believe that Congress
and the American people need to engage in a sober and thorough debate over
the wisdom of such an invasion before we commit our young soldiers to a
new war in Iraq. At a minimum, the following questions should be carefully
considered:
Why do so many knowledgeable
military experts, including former generals Anthony Zinni, Brent Scowcroft,
Norman Schwarzkopf, and Colin Powell, caution against war in Iraq? These
men understand the geopolitics and military realities of Iraq and the Middle
East from their service during the first Bush administration. Are the brilliant
military minds of a decade ago suddenly irrelevant? Note that those who
actually have experienced war are the most reluctant to call for war, in
stark contrast to the mostly non-veteran pundits clamoring to "take Saddam
out."
Is Iraq a real danger
to us, or have the war hawks wildly exaggerated the threat posed by this
impoverished third-world nation?
Do you personally
feel strongly enough about Iraq to leave your home, family, and job to
join the war? If you are beyond the age of military service, would you
want your children or grandchildren to do the same? After Pearl Harbor,
almost all Americans would have answered yes to this question, but do we
really have the same national unity and clear sense of purpose when it
comes to Iraq?
What would you give
up at home to provide the billions of dollars necessary to prosecute the
war? Would you support a huge tax increase, or give up your Social Security
benefits for a decade? I know many Americans would be happy to sacrifice,
but we should be honest about what this war might cost us and judge whether
it's worth it.
Everyone wants a regime
change in Iraq, but who exactly will replace Hussein? Will we support a
handpicked successor who later turns on us, much like bin Laden did after
we funded his resistance to Soviet occupation of Afghanistan? Remember
that the Kurds, our supposed friends in northern Iraq, have fundamentalist
factions that are aligned with bin Laden and are allegedly hiding al Qaeda.
We risk replacing the secular Hussein regime with a more fundamentalist
Kurd regime that hates western values.
How long will we be
in Iraq after Saddam Hussein is ousted? Will we be nation-building for
decades, as we almost certainly will be in Afghanistan? We cannot afford
to repeat the mistakes made in Korea and Vietnam by entering another conflict
without clear objectives and a definite exit strategy.
Does an invasion of
Iraq play into bin Laden's hands by turning the entire Islamic world against
us? Will an Iraq war expand into a Middle East war against Israel? Will
Islamic terrorists mount attacks in America and around the world to protest
the war?
If we are justified
in attacking Iraq, what about the dozens of other countries that pose much
more of a threat to us? Why aren't the war hawks calling for an invasion
of Iran or especially Saudi Arabia, which harbored most of the September
11th terrorists?
With American forces
stretched thin in the Middle East and the administration preoccupied, will
China take the opportunity to invade Taiwan? Will India and Pakistan engage
in a full-fledged war? Will adversaries like Russia consider us weakened
and move against us?
Finally, do the American
people, and not just a handful of advisors to the President, really want
this war?
All of these questions,
and many more, need to be asked and answered in a full and robust congressional
debate.
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This ends our coverage of this issue.
We will have more entertaining and less controversial coverage of market
related criminal events in the weekend edition. Stand by for a memorable
edition which will be a lot of fun.
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