Word: deak-perera
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About 40 to 50 people, chanting "No blood on our hands--No Kruggerands," have participated in an ongoing series of demonstrations outside of the Deak-Perera currency exchange in Boston, demanding that the store stop selling the South African gold coin...
...Christopher D'Elia, manager of the Boston Deak-Perera, said the store does not plan to stop selling the coins as a result of the protests. "I don't think [the protesters] are being very effective in reaching their goals," D'Elia added, noting that Deak-Perera sells few Krugerrands and that far more South African gold goes into jewelry...
...protesters were picketing Deak-Perera because "they import and sell the South African Kruggerand which is a significant symbol of South Africa's repressive policy and it also aids the financial stability of South Africa," Bolling said...
...some protestors marched outside the store, the four who were arrested went inside to ask the currency dealers to stop dealing in Kruggerands, South African gold coins. When the manager of the Deak-Perera store said he could not get authorization from the corporate headquarters to stop selling the coins, Wald and the three other protesters refused to leave the store...
...Nicholas Deak, president of the Deak-Perera Group, a major U.S. gold dealer, believes the bulk of the buying can be traced to three sources. Demand from the Middle East remains strong, he says, not only from OPEC governments eager to protect their oil profits from U.S. inflation and the decline of the dollar, but also from peasants and small traders for whom gold remains the most popular portable security. Demand from Europe is accelerating because inflation there is rising. Bullion fever has now spread to Switzerland, reflecting fears about inflation even in that land of granite-hard currency...