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November 24, 1986
Met with Zulu Chief Buthelezi of S. Africa. I admire him greatly. I told him I was not a fan of Bishop Tutu. [. . .]
An issues briefing lunch. I called for a script for Sat’s. radio [speech] on the doom criers who said our ec. plan wouldn’t work & it did. Now they are predicting a recession by Thanksgiving. But that’s only a few days away & no recession.
Big thing of the day was 2 hr. meeting in the situation room on the Iran affair. George S. is still stubborn that we shouldn’t have sold the arms to Iran—I gave him an argument. All in all we got everything out on the table. After meeting Ed M. & Don R. told me of a smoking gun. On one of the arms shipments the Iranians pd. Israel a higher purchase price then we were getting. The Israelis put the difference in a secret bank account. Then our Col. North (N.S.C.) gave the money to the “Contras.” This was a violation of the law against us giving the Contras money without an authorization by Congress. North didn’t tell me about this. Worst of all John P. found out about it & didn’t tell me. This may call for resignations.
Ended day receiving 7 Ambas’s. & their familys.