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...when he announced that the U.S. would stop selling gold to redeem foreign-held dollars. The "Nixon Shock" has already moved moneymen into discussions that would have sounded like sheer fantasy a few months ago. American officials who once proclaimed the majesty of the dollar now cheer declines in its price on newly freed money markets, because they hold the potential for helping the U.S. balance of payments. Meanwhile, Europeans are reluctantly breaking loose from their mystical attachment to gold and discussing ways to reduce its role in a new system...

Author: /time Magazine | Title: The Economy: Changing the World's Money | 10/4/1971 | See Source »

...Italian community plans to charter a bus to the game in the Yale Bowl. Informed that some Harvard-Yale contests are played on Friday, the mayor said that the contingent may go down early. "We want to do the thing up right," he saad. "We'll stay overnight and cheer against every Yale team. They never should have done that to us and Columbus...

Author: By Robert W. Gerlach, | Title: Italians Back Crimson: 'Win One for Columbus' | 9/29/1971 | See Source »

...older women, and some girls who feel conflict with their religious or ethical upbringing, find the experience psychologically scarring. Cindy, 17 and single, felt exhilarated immediately after her abortion. But when her hospital roommate, going into labor from a saline induction, began to moan with pain, Cindy's cheer gave way to guilt at the ease with which she herself had ended her pregnancy. She broke down and wept...

Author: /time Magazine | Title: Medicine: Legal Abortion: Who, Why and Where | 9/27/1971 | See Source »

Total Recall. Heyerdahl takes an awfully long time putting out to sea. But once he gets launched, his account of the Ra voyage is persuasively faithful to the cresting good cheer and alternately sinking heart of all travelers in the tradition of Odysseus. On one page he can call his ship a golden paper swan, and on another, a floating haystack. Steering oars snapped with annoying regularity, and two days out a squall cracked the yard, carrying the 26-ft.-high wine-colored sail with a rust-red sun painted on it: the symbol of Ra. When the whole structure...

Author: /time Magazine | Title: Books: Wine-Dark Sails | 8/30/1971 | See Source »

Among those who did not cheer four years ago when Israeli troops swept into the Gaza Strip was Defense Minister Moshe Dayan. "Gaza is more of a problem than a gift," said Dayan of the former Egyptian occupied territory, which stretches along the Mediterranean south and west of Israel. Events since then have proved him right. Israel connected Gaza to its electric grid, drummed up potential business and even encouraged tourism to aid the territory. But Gaza's 390,000 residents were-and still are-unremittingly hostile. So far this year seven Israelis and 206 Arabs have been killed...

Author: /time Magazine | Title: ISRAEL: Terror in Gaza | 8/9/1971 | See Source »

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