Andrew Racz
Director of Research
300 East 54 Street, Suite 26C
New York, NY 10022
Phone: (212) 319-6949
Fax: (212) 753-1944

Watergate Saved Nixon's Life

November 28, 2007

I first met President Nixon exactly on March 18, Wednesday, 1981. On the previous Sunday, New York Times' business section put my name in the front and gave me a two-paged article in conjunction with my role in engineering the takeover Bache & Co., then the nation's second largest brokerage firm in New York.

When the New York Times reporter interviewed me, I thought it would be about Bache. It turned out to be a personal biography.

I quoted that my father was killed in Auschwitz. My idols were strong-arm politicians like Churchill, Nixon, and Governor Connally.

On Monday, I wrote another letter to the President which must have been the fourth of fifth. I must admit, he answered to every letter telling me that he was very busy, but eventually he will meet me.

So on Wednesday March 18 at 3:00 p.m., I rang the bell at East 56th Street.

Nixon had a very attractive small study and channeled the conversation to a common acquaintance, Mr. Jimmy Crosby, the President of Resorts International. And 1981 was only three years after Resorts became a household name, the first casino in Atlantic City. Crosby was a major supporter of Nixon. And actually, Nixon acted as an attorney in 1967 when Resorts bought the hotels and the famous bridge from the impoverished Huntington Hartford. I knew all the characters, and actually, I met Nixon on the airplane back from the Bahamas where we were vacationing. It was a short conversation. He never remembered it.

I felt, when I was sitting opposite him, that the small talk has to end. He did mention that Governor Connally mentioned my great interest of meeting him and referred to this reference. But I suddenly turned to an anecdote that livened him up.

I asked Mr. President, "Do you remember the Red Light Bandit?"

He seemed to remember something, but nothing specific. The fellow was Chessman. He raped girls on the California Highway. Nixon started to smile and said, "I remember, but what has it got to do with me?" I said, "Well, he was in the death row for sixteen years, he became an attorney in jail, defended himself twice, but after sixteen years, Governor Brown sentenced him to death."

Lately, a movie was made of Chessman. Dreyfus has a Zola, Chessman was his own Zola.

Nixon remained silent, and then very graciously said, "I see. You want to be my Zola."

What does a man like Nixon talk about when he's not on the stage? What does a man think and talk and refer to when he talks to a totally nonpolitical person like myself?

As I soon learned, President Nixon, when he relaxed, he tried to focus intellectually on a subject that is his turbulent and busy life didn't always permit him. I was, and whether it is a complement or not, I was a relaxation.

One night, deeply in thought, walking up and down, and stopped to refer to Watergate, I asked him why he didn't give in. He turned and quite seriously but firmly - very firmly - said, "You always have to keep on fighting. You have to keep on fighting."

Then, after some silence, he asked me, "Have you ever heard of anything like Watergate?"

And that is when my moment came. I presume the thoughts and the words which I uttered probably came to Einstein when he discovered the theory of relativity. Many great stock market speculators and the biggest winners usually come in a single moment and not by long periods of study.

Frankly, this is how I discovered Resorts International. I read a relatively unpleasant article in the New York Magazine. Mr. Crosby and his president, Mr. Davis' hands were painted in black. But I read the facts, the stock was only $10.00, and I decided in a single moment it's going to be my big, big winner. It went to $200.00. I was the first security analyst down in Atlantic City.

The Great Moment, The Great Thoughts. There was a play with Alan Bates and Maggie Smith when Alan Bates, referring to his rich former wife, says, "You were my Fulbright."

I looked back at the president and calmly but firmly said,
"Mr. President, Watergate saved your life."

To this, much to his credit, President Richard Nixon sat down in an armchair. He was silent for a while and then indicated with his hand that I should continue.

I said, "Well Mr. President, let's look at the facts. In 1961, September, Dag Hammarskjold, Secretary General of the United Nation was flying to Ndola, northern capital of Rhodesia, to negotiate with President Thsombe of Katanga. I was there as a student journalist. Hammarskjold's plane crashed. Well, I went to see the plane. Do I have to say a single word?"

In 1963, President John F. Kennedy was assassinated in Dallas, Texas.

In 1968, at Martin Luther King is shot to death in a motel corridor.

On June 4, 1968, Robert Kennedy, Former Attorney General, Senator, Presidential Candidate, Leading Contender for the Democratic nomination after his victory in California is shot dead in a kitchen.

Mr. President, these were four public spirited and respected individuals. All these four died by fulfilling their own destiny and being at that height of their power.

Nixon then recovered. He said, "Well, it's true. Yes. They were all public spirited people."

Mr. President, you have been a well-known international attorney. May I respectfully ask, "Do you remember a single trial upon the death of these four eminent people?"

Nixon by then was interested and using his memory, he apparently went through in his head about the four murders and he said, "No, there was no public trial."

Let's take the last assassination. Robert Kennedy, he is on the platform, he raises his fingers "onto Chicago". He walks out through a large but unguarded kitchen. I don't want to be disrespectful, Mr. President, but have you ever left the platform and walked alone or with no guard? Did you walk through a kitchen? Or walk away from a platform particular if you have a major victory when every photographer from television wants to look at you. Wouldn't you want to walk to the main door so more pictures can be taken? At that time, Robert Kennedy needed more publicity, more recognition by the media than any time in his lifetime. He goes through a kitchen. Now, how does that sound?

And if you want to emphasize a little bit, all I remember is that a few days later, they pointed -- they found the father and mother of this Jordanian assassin in Jordan in a village and the television was showing that this is the family that killed Robert Kennedy. That's it.

Nixon remained silent and I started to observe that his mind was working, that his brilliant brain which is compared to the calculating ability of a chess master, his mind was at work.

Now, let me go just a step further. Mr. President, we were talking about four isolated assassination of public figures. All four attempts were made, and all four attempts were successful. Now, may I ask you, what does for out of four mean to you?

There was a first smile. He said, "Poker."

And this is where now we have to turn to the fate of President Richard Nixon. In order to make assassination against President Nixon, the conspirators had to make a fixed attempt. Going back to your word poker, if you face a poker and you try to take another victim which, Mr. President, would have been you, it would have been betting against the poker. Now, referring to your experience, Mr. President, in the Pacific, did you ever make a bet against a poker?

Nixon was back at his professional mode. He said, "No, of course not. You never bet against the poker."

So before we turn to the fifth assassination, we have to ask a question. How is it that four public assassinations of public figures never brought along a single trial? Not a single major trial. It could have meant that there was a common trend - people, authority, methods - a common trend among the four assassinations. Otherwise, out of the four, there would have been at least one trial.

And now, having established the past, we turn to the assassination of President Richard Nixon.

The conspirators obviously voted against it. The reason is quite simple. President Nixon didn't move as freely as President Kennedy. And by the choice of circumstances, the assassination may not have been successful. They may have hurt you or being sick for six months, but they may have killed you.

Now, there was something different. By 1971 to the 10 years of Dag Hammarskjold in 1971, the President of the United States, President Richard Nixon, had a friend namely Leonid Brezhnev, Secretary General of the Soviet Politburo. The KGB was doing its own research of President Kennedy's murder. They didn't believe in the official theory.

The assassination of President Richard Nixon, successful or not successful, would be against the policy and interest of the Soviet Union. First, they would have been very unhappy. Second, they have rightfully assumed that there are elements in America who always want to sabotage the friendship, the business relationship between the Soviet Union and the United States. Two presidents in ten years. Brezhnev would have to ask: Who runs America?

In any case, Brezhnev would have brought in the KGB, wanted or unwanted, in the United States, and the whole conspiracy going back to Dag Hammarskjold, the people, they probably would have been wiped off the face of the earth. Even so, you would have been only hurt for a period of six months.

That is why, Mr. President, Watergate saved your life.

Nixon got not so happy, but he was trying to get to the root of the matter. Then what was the Watergate all about?

The only thing I can tell the president that the conspirators decided not to kill you, not to make an attempt to kill you. But they have made an attempt to eliminate you from the seat of power. And the only other way to eliminate somebody from the White House is to study his life, study his weaknesses, study the way he operates, study the people around you, and trick him. Mr. President, my conclusion is Watergate was the most successful trick ever played on a human being of prominent position. The truth of the matter, Mr. President, you were totally innocent. You were simply tricked.

Almost 35 years has passed since your resignation. The tricks worked.

It is 13 years that you left us on April 22nd, 1994 which happens to be my birthday. I have a six year-old grandson named Daniel.

Today, the Russians and the Chinese have accumulated well over $1 billion in our currency and they are buying up the world. Abu Dhabi invested $7.5 billion to save City Corp. The two communist empires you have inherited are booming. To be fair, Mr. President, you tricked the world. While you were president, you tricked everybody. You changed the world.


Information contained herein is based on data obtained from recognized statistical services, issuers reports or communications or other sources believed to be reliable. However, such information has not been verified by us and we do not make any representation to its accuracy or completeness. Any statement non-factual in nature constitutes only current opinions which are subject to change. BERAL INC. or their officers, directors, analysts or employees may have positions in the securities or commodities referred to herein, and may as principal or agent buy and sell such securities or commodities. An employee, analyst, officer or a director of BERAL INC. may serve as a director for companies mentioned in this report. Neither the information nor any comment expressed shall constitute an offer to sell or a solicitation of an offer to buy any securities or commodities mentioned herein. There may be instances when fundamental, technical and competitive opinions may not be in concert. This firm may from time to time perform investment banking or other services for or which investment banking or other businesses from any company mentioned in this report.



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Andrew Racz. 300 East 54 Street, Suite 26C, New York, NY 10022
Phone: (212) 319-6949 Fax: (212) 753-1944. E-mail:

Copyright © 2011 Andrew Racz. All Rights Reserved.