Word: deale
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Dates: during 1960-1969
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Chinese motivation for talks rests on its fear of Russia. The Sino-Soviet border talks, now adjourned after eight weeks, seem to be going badly. The Chinese apparently hope to gain leverage on the Soviets by demonstrating readiness to deal with...
Churchmen have been visible enough: Martin Luther King preaching his dream, Dan and Phil Berrigan raiding draft boards, William Coffin marching for peace, Father Groppi summoning his people out of the ghetto. Even so, the failure of the churches at large to deal with the social and psychological condition of mankind seems to many to reflect a decline of decision and direction. The prevalent eroticism in the arts, sexual permissiveness, the drug culture, the rise in crime and other violence, the increase in petty dishonesty ?all point to the erosion of the churches' moral authority. With gallows humor...
...certain amount of new gold to the International Monetary Fund whenever the country's balance of payments was in deficit and the free price sank to $35 or less. The I.M.F. would pay the official price of $35 and could then resell the metal to central banks. The deal would provide a floor under the gold price, and something of a ceiling as well. Since the I.M.F. would buy only a little gold, South Africa would have to sell most of its metal on the free market, and that would tend to hold down the price...
Stiff Price. The deal brought an angry response from Congressman Henry Reuss, chairman of the Joint Congressional Subcommittee on International Exchange and Payments. He said that the U.S. "would pay a stiff price for any compromise with South Africa." A floor under the private price of gold, he argued, would encourage speculation by taking the risk out of it, and would possibly tempt foreign bankers to demand conversion of their dollar reserves into gold...
Milton Friedman's opinions have particular weight now because the Nixon Administration has placed great reliance on the policies that he prescribes to deal with the current inflation. Friedman was one of Richard Nixon's chief economic advisers during the election campaign. He did not seek a full-time job in Washington because "I like to be an independent operator," but his ideas are highly regarded within the Administration. "Milton Friedman has influenced my thinking," says Paul McCracken, chairman of Nixon's Council of Economic Advisers, who describes himself as "Friedmanesque." The two men often talk on the telephone, chat...