Word: drains
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Dates: during 1960-1969
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...improve the deficit in our balance of payments. Because Americans now spend abroad more than foreigners spend here, there is a net outflow of dollars from the United States, Central banks in other countries have the right to convert their surplus dollars to gold. And the resulting gold drain jeopardizes the stability of U.S. currency...
That was probably the kiss of death. Over the past 15 years only three favorites have won at Churchill Downs. The wildest speculator on Wall Street would boggle at the boodle that has gone down the drain. Winning the Kentucky Derby may be every horseman's dream, but it is a munificent obsession...
Roman Candle Shows. The new museum will not only put a stop to the drain, Brown is convinced, but also prove a magnet in its own right. Says he: "We cannot rival the Metropolitan in the Met's terms now. No one is taking whole carloads of treasures out of Egypt any more. But our museum can look to the Orient and to Latin American art easier and quicker just because of geography." He intends building on the present splendors to produce a top-grade total museum. "Doing it becomes an obligation," says he. "The new museum will become...
...tragedy of Sam and Henny is no grand Sophoclean descent into doom. They live like a couple of roaches battling over garbage, and fate simply sluices them down the drain. But every page is written with battering intensity. The Man Who Loved Children is a big black diamond of a book, an exotic and virulent attar of hatred...
More than half of this year's drain to date has been due to Charles de Gaulle's attack on the dollar, which is continuing week by week. The U.S. is also under pressure from one of its staunchest monetary allies, West Germany. Speaking for West Germany, Bundesbank Chief Karl Blessing recently urged nations to place less reliance on the dollar, hold their international reserves two-thirds in gold and only one-third in dollars and British pounds. In 1964 the Bundesbank quietly traded in $200 million for U.S. gold and boosted the proportion of gold...