THE PRESIDENT'S DAILY BRIEF 24 MAY 1973

• Document Type: FOIA
• Collection: President's Daily Brief 1969-1977
• Document Number (FOIA) /ESDN (CREST): 0005993831
• Release Decision: RIPPUB
• Original Classification: T
• Document Page Count: 15
• Document Creation Date: August 14, 2016
• Document Release Date: August 24, 2016
• Publication Date: May 24, 1973

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The President's Daily Brief
24 May 1973
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Exempt from general
declassification scheduk of ED. 11652
exemption category 5B( I
declassified only on approval of
the Director of CentralIntelligence
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EYES ONLY FOR THE PRESIDENT
CENTRAL INTELLIGENCE AGENCY
WASHINGTON, D.C. 20505
TOP SECRET
May 2 4 , 1973
TOP SECRET
EYES ONLY FOR THE PRESIDENT
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EYES ONLY FOR THE PRESIDENT
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EYES ONLY FOR THE PRESIDENT
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WASHINGTON, D.C. 20505
May 2 2 , 1973
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THE PRESIDENT'S DAILY BRIEF
24 May 1973
PRINCIPAL DEVELOPMENTS
Qadhafi may be preparing to use US reconnaissance
flights off the Libyan coast as the basis for a
diplomatic offensive against the US. (Page 1)
Fatah leader Yasir Arafat has warned Lebanese au-
thorities that the guerrillas will resist anything
other than token implementation of last week's
agreement on demilitarizing refugee camps. (Page 2)
West Germany/
/(Page-3)-
The ten-year Soviet-German economic cooperation
agreement signed on May 19 attests to the impor-
tance both sides put on the economic aspects of
Brezhnev's visit to West Germany. (Page 4)
Moscow, faced with a heavy trade deficit, report-
edly has been selling gold on the Zurich market
this year. (Page 5)
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LIBYA
Qadhafi may be preparing to use US reconnais-
sance flights off the Libyan coast as the basis for
a diplomatic offensive against the US.
In recent speeches, Qadhafi has denounced
what he calls the repeated provocations
by US warships and aircraft that he claims
have violated Libyan waters and airspace.
None of the fighter-escorted US reconnais-
sance missions has approached Libya's of-
ficially claimed 12-mile territorial
limit, though they have penetrated the
100-mile "restricted zone" declared by
Tripoli last year. Libya now regards
this zone as its own air and sea space,
and Qadhafi will presumably claim that
the presence of US ships and aircraft
within the restricted area is an act of
aggression.
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LEBA10H-FEDAYEEd
Fatah leader Yasir Arafat has warned Lebanese
authorities that the guerrillas will resist anything
other than token implementation of provisions of the
agreement calling for substantial demilitarization
of the Palestinian refugee camps.
Arafat's tough talk may have been intended
to test the government's resolve to en-
force the new restrictions. The army,
however, seems likely to try to remove
from the camps at least? some of the rocket
launchers and mortars that fired on Leba-
nese positions earlier this month.
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WEST GERMANY
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USSR - WEST GERMANY
The ten-year economic cooperation agreement
signed on May 19 attests to the importance both
sides put on the economic aspects of Brezhnev's
visit. Brezhnev and Brandt reportedly spent con-
? siderable time talking about possible large joint
Soviet - West German projects. In discussions with
West German industrialists and bankers, the Soviet
leader stressed the USSR's desire for long-term
cooperation with West Germany in the exploitation
of Soviet natural resources.
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USSR
Moscow, faced with a heavy trade deficit, has
been selling gold on the Zurich market this year,
The Soviets
have sought to borrow as much as $1 billion in Euro-
dollars
worth
Last year the Soviets sold about $270 million
of gold on the Zurich market.
The Soviet trade deficit could reach a
record $2 billion this year--swollen
mostly by contracts to buy $1.8 billion
in grain from the West. Favorable credit
terms cover only a minor part of these
purchases.
Moscow's large gold reserves and current
production could go far toward financing
even this projected deficit, especially
if gold prices remain near their present
levels. At $100 per ounce Soviet gold re-
serves are worth about $5.8 billion. Cur-
rent production is worth about $820 mil-
lion a year and is continuing to expand.
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NOTES
China:
The
Chinese are also providing more military equipment
to border units. The troops for these expanded po-
sitions evidently come from within the regions in-
volved; no large-scale movement of troops from other
areas of China has been detected since 1971. The
Chinese have an estimated 1.4 million troops in the
four border regions, of whom 1.2 million are in com-
bat or combat support units.
Peru:
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Top Secret
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