Volcker Travelled as Chase Bank Official to Kuwait; Was Considered by Kuwait as Federal Reserve Official

How lucky for Chase Manhattan Bank. Below from a new batch of cables released by Wikileaks: A 1975 cable on Paul Volcker travelling to Kuwait as an official of Chase Manhattan Bank, who the State Department reports will be viewed by the Kuwaiti government as a senior Federal Reserve official.

POSSIBLE BOYCOTT OF CHASE, MANHATTAN BANK
Date: 1975 March 4, 06:09 (Tuesday)	:
Original Classification: LIMITED OFFICIAL USE
Handling Restrictions: -- N/A or Blank --	:
Executive Order: -- N/A or Blank --
TAGS: CHASE MANHATTAN - Chase Manhattan Bank | EFIN - Economic Affairs--Financial and Monetary Affairs | ETRD - Economic Affairs--Foreign Trade | KNIGHT, RIDGEWAY| KU - Kuwait
Enclosure: -- N/A or Blank --
Office Origin: -- N/A or Blank -- Office Action: ACTION NEA
From: Kuwait Kuwait City [US Embassy]
To: ABD DHABI | Bahrain Manama | Department of State | Egypt Cairo | Israel Tel Aviv | Lebanon Beirut | Qatar Doha | Saudi Arabia Jeddah | Syria Damascus

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1. WE UNDERSTAND FROM LOCAL CHASE, MANHATTAN BANK AND COMMERCIAL BANK OF KUWAIT SOURCES THAT CHASE IS BEGINNING TO TAKE STEPS IN RESPONSE TO THREAT OF ARAB BOYCOTT ACTION. WE WERE TOLD THAT LATER THIS MONTH FORMER U.S. AMBASSADOR TO SYRIA RIDGEWAY KNIGHT, WHO IS NOW AN OFFICER OF THE BANK, WILL VISIT BEIRUT, DAMASCUS AND PROBABLY KUWAIT TO DISCUSS THE MATTER. WE DO NOT KNOW IF KNIGHT IS PLANNING ANY OTHER STOPS IN THE REGION. 2. IN ADDITION TO AMBASSADOR KNIGHT'S VISIT, FORMER TREASURY UNDERSECRETARY PAUL VOLCKER, WHO IS AN ADVISER TO CHASE, WILL BE VISITING THE REGION. VOLCKER'S TRIP IS NOT RPT NOT CONNECTED WITH THE BOYCOTT QUESTION. HE IS SCHEDULED TO BE IN KUWAIT MARCH 15. ACCORDING TO PRES REPORTS VOLCKER WILL SOON TAKE OVER AS HEAD LIMITED OFFICIAL USE LIMITED OFFICIAL USE PAGE 02 KUWAIT 01002 040836Z OF THE FEDERAL RESERVE BANK OF NEW YORK UPON HIS RETURN TO THE UNITED STATES. ALTHOUGH THE VISIT IS SPONSORED BY CHASE, KUWAITI OFFICIALS ARE LIKELY TO WANT TO TALK TO HIM IN HIS CAPACITY AS A SENIOR OFFICIAL OF THE FEDERAL RESERVE BANK. STOLTZFUS LIMITED OFFICIAL USE