Word: dollarization
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Dates: during 1980-1989
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...could believe that my taxes were indeed going to "families in the slums," as Attorney Philip Weinstein says, I would be happy to pay. Unfortunately, most of my tax dollar is used to finance nuclear weapons, oppressive foreign regimes and other causes of human misery...
Perhaps worse, there is the inevitable police corruption. Says U.S. Attorney General William French Smith, who is to visit Bolivia and Peru this week to discuss drugs and tour coca fields: "The dollar amounts are so great that bribery threatens the very foundation of law and law enforcement." A blond New York preppie, at 18 a recovering cokehead, was always ready to bribe: "I figured if a cop ever stopped me, I'd just offer him cocaine...
...Colombia as in the U.S., says John Bacon, head of cocaine-intelligence gathering for the DEA: "There is no Mr. Big." But another U.S. official estimates that there are 100,000 Colombians living in the U.S. who "earn major dollar figures in drugs." According to DEA officials, there are ten principal Colombian cocaine rings with members in Bogota, Miami and the middle-class New York City borough of Queens. Each ring takes in at least $50 million a year. Says Bacon about the Colombian coke gangsters: "They are tremendous organizers. They deal very effectively with Americans." They also operate...
Political ideology has jeopardized the present arrangement of the EMS. Yet in order to secure its still essential aims, the Europeans must broaden its scope. Lingering in most European minds is the desire for American participation in currency talks and alignments. The U.S. dollar is a bit of a colossus to European, and an indifferent one at that. Reagan's strong-dollar stance has been insufferable, for a mighty dollar makes any cut in oil prices of a windfall for Common Market countries. France alone stood to have gained $3.5 billion from the recent OPEC slash, but the devaluation...
...Corporation yesterday formally approved a $5 million dollar allocation for renovation of Gund Hall, home of the Graduate School of Design...