Word: centralized
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Dates: during 1960-1969
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...damage was already done. An estimated 2,000 soldiers and civilians, mostly Hondurans, were reported dead. Honduran bombs damaged El Salvador's biggest oil refinery. The future effectiveness of the Central American Common Market, which has brought a surprising amount of industrialization to the region of the combatants in the past nine years, was imperiled, and the area's main lifeline, the Inter-American Highway, was closed down by the fighting. In the wake of death and damage, a legacy of bitterness was created that might well bedevil the two neighbors for years...
Soccer War. Tensions were brought to flash point last month by a series of soccer games. A three-game play-off was held to decide who would represent Central America in the World Cup soccer championship this year. El Salvador's team went to "Tegoose" (as Yankees call the Honduran capital) and lost 1-0 in overtime. Until game time for the rematch in the Salvadoran capital a week later, the Honduran players had to be hidden outside San Salvador. The Salvadorans won, and Hondurans retaliated by vandalizing Salvadoran stores in their country and boycotting Salvadoran goods. El Salvador...
South Africa badly needs to sell gold to pay for its imports; but other nations have not been buying its bullion for their monetary reserves since 1968, when the U.S. persuaded central bankers to join a boycott. That move was part of a power play intended to blunt South Africa's campaign for an increase in the price of gold. U.S. officials hoped to force South Africa to dump its gold on free markets in London and Switzerland and thus drive the free-market price down to the $35-per-ounce level that prevails in deals between governments...
...syndicate, however, has been unable to take all the gold that South Africa has offered. The Bank of Portugal has broken the central-bank boycott and bought some of the rest at the official $35 price. The Lisbon bankers took about $145 million worth in 1968 and another $120 million worth early this year. Johannesburg moneymen also believe that South Africa has loaned some gold to other African nations...
Compromise Talk. In addition, central bankers strongly suspect that South Africa has deposited some of its gold in foreign banks and subtracted the deposits from its figures on gold reserves. That ploy would tend to make the boycott look even more ineffective than it is. British statistics show that $222 million in South African gold entered the U.K. last year. Most of it is probably to be found in South Africa's account at the Bank of England, which does not divulge what it is holding-but which has received South African gold ever since that country...