Meyer Lansky, Mob Accountant: "I was never impressed with the financial planners for Israel"

Three page autograph letter signed by Meyer Lansky as "Shalom / Meyer" written on rectos with versos blank. Dated "December 3, 1974". Expected folds with two punch holes to the right margin affecting a few words of text. Small paper clip stain and staple holes upper left corner. Very good. 8" x 10".

Lansky's letter to Yushki covers his dismay over the Yom Kipper War, and the financial status of Israel in the year that followed. A somewhat ironic letter with tones reflecting how he could not, nor was in a position to comment as "I would have been easily misunderstood …"

The Yom Kipper war had occurred a year prior and began on October 6, 1973. Many of Israel’s soldiers were away from their posts observing Yom Kippur (or Day of Atonement), and the Arab armies made impressive advances with their up-to-date Soviet weaponry. Iraqi forces soon joined the war, and Syria received support from Jordan. After several days, Israel was fully mobilized, and the Israel Defense Forces began beating back the Arab gains at a heavy cost to soldiers and equipment. A U.S. airlift of arms aided Israel’s cause, but President Richard Nixon (1913-94) delayed the emergency military aid for a week as a tacit signal of U.S. sympathy for Egypt. On October 25, an Egyptian-Israeli cease-fire was secured by the United Nations. Israel’s victory came at the cost of heavy casualties, and Israelis criticized the government’s lack of preparedness. In April 1974, the nation’s prime minister, Golda Meir (1898-1978), stepped down.

"…I was terribly saddened of Israel encumbering herself at this time. As I understand this Banker in the past made a lot of money for Israel. What is the real truth? Did they or (he the Banker) try to do well for Israel and failed or was there just a personal gain interest. I was never impressed with the financial planners of Israel. Their plans was fitting for a Country without a border enemy. I saw a lot of faults; I wasn't in position to comment, I would have been easily misunderstood. What occurred with the greatness of Israel occurred with other nations in the past. After you[sic] people gave your sweat and blood in came the material, monetary geniuses. Influenced your leaders with business thoughts they in return not wittingly lulled the people to sleep with better times around the corner. The result the Yom-Kipper debacle. No doubt the suffering is great in Israel …"

It is somewhat unclear as to Lansky's concerns he addressed with the Israeli banking system, however in 1974, following the October war, inflation reached a 56 percent high, In 1979, inflation suddenly skyrocketed from 48.1 percent in 1978 to 111.4 percent. Until 1983, the inflation ranged between 100 and 200 percent.
Israel was using inflation to regulate the main components of the economy — prices, wages, taxes, foreign trade, government budget and state debts — (shortly after this letter the long term effects of the
government refusing to openly admit that it regulates inflation, created the public view of the government as “losing control over the economy.” 

So it appeared Lansky had a valid point - But who would listen to an ex-mob accountant!

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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