The lands of Latin America, for instance, no longer want American hand-me-downs, but are bargaining for powerful new weapons. Most of the spending there has been done by six countries​—Argentina, Brazil, Chile, Colombia, Peru and Venezuela—​who paid out most of the 1.7 billion dollars spent on heavy arms in Latin America between the years 1967 and 1972.

The Russians are estimated to have spent more than a billion dollars arming Cuba over the last ten years.

The U.S. Department of Defense admits that it has stockpiled a billion dollars’ worth of weapons to turn over to its Asian allies in South Korea, Thailand and South Vietnam in the event of future war involving those nations.

An American B-1 bomber now costs 76 million; that is up almost twenty million dollars in recent months. The F-15 supersonic fighter will cost over twelve million dollars.