Word: bank
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Dates: during 1960-1969
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There, it was sent to the Bank of Eng land, to be transported by Swissair and British European Airways flights to the coffers of Swiss banks. The influx of gold became so bulging, in fact, that one Swiss bank had to reinforce the walls of its vault to contain it. It was all part of the largest gold rush in his tory, a frenetic, speculative stampede that last week threatened the Western world with its greatest financial crisis since the Depression...
...were the speculators? The identity of most was veiled in the secrecy of Swiss bankers' files, but they were situated throughout the world. Perhaps as much as 40% of Swiss bank purchases were destined for safekeeping in the coffers of Middle Eastern sheiks and oil potentates. Latin American businessmen, affluent overseas Chinese, Asian generals-all claimed a piece of the action. The central banks of many smaller nations with precarious national reserve margins, including some Communist Eastern European countries, had undoubtedly joined in to protect themselves. More in sorrow than in greed, European corporations moved into the buying...
...telephoned message to British Chancellor of the Exchequer Roy Jenkins, the U.S. asked Britain to close the London gold market and shut off the flow from the Gold Pool. Prime Minister Harold Wilson hurried to Buckingham Palace for a midnight meeting with Queen Elizabeth, who declared a bank holiday in foreign-exchange trading. That shut off the Gold Pool's dealing, and money markets from Singapore to Lusaka followed suit. The Paris market alone stayed open...
...yacht anchored several miles off the French Riviera, producer Sam Spiegel decided to film The African Queen with a script by James Agee and direction by John Huston. Legend has it that Spiegel signed the two by assuring each that the other was committed to the project, then obtaining bank financing by claiming that both were signed. Everyone fell for the bait and Spiegel made the deal. Regardless of the percentage of actual fact in this story, Hollywood attributes to Spiegel a pretty fair job of wheeler-dealing in launching The African Queen toward production...
Some 45 new investment projects have been approved, at least in principle, and within the past four weeks, 15 foreign banks have received the nod to open branches in Djakarta. They include the Bank of America, Chase Manhattan, First National City Bank and American Express. All expect to be open for business before the end of the year and capable of financing foreign ventures on the spot...