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...rush to the mountain has actually been a sprint. Last January, after coming across traces of alluvial gold on his land, Farmer Genesio Ferreira da Silva hired a geologist to investigate whether there was a larger deposit. Word leaked out, and within a week 1,000 prospectors had descended on the farm. Five weeks later, there were 10,000 on Fer-reira's property and another 12,000 near by. Huge nuggets were quickly discovered, the biggest weighing nearly 15 Ibs., worth more than $108,000 at the current market price. "If we could have only kept the secret...

Author: /time Magazine | Title: BRAZIL: The Treasure of Serra Pelada | 9/8/1980 | See Source »

...surprise at the hearings was the disclosure that two of Billy's acquaintances, Farmer George Belluomini and Financial Consultant Ronald Sprague, both of Bakersfield, Calif, are being investigated by the Treasury Department for possibly having laundered funds connected with a drug smuggling operation. Subcommittee Special Counsel Philip Tone, however, made it clear that "the Government has no information that Mr. [Billy] Carter was in any way involved...

Author: /time Magazine | Title: Nation: Billy Carter Is Not a Buffoon | 9/1/1980 | See Source »

Ronald Reagan saved roughly $4,500 in federal income taxes last year by declaring losses on his tax-sheltered ranch near Santa Barbara, Calif. While still a peanut farmer in 1976, Jimmy Carter so skillfully used Internal Revenue Service rules that he owed virtually no taxes on an income of $54,934.79. The President later voluntarily donated $6,000 to the IRS. And Ted Kennedy, who was railing against the abuses of tax shelters at last month's Democratic Convention, has much of his fortune tied up in real estate, which is considered the sugar daddy of shelters...

Author: /time Magazine | Title: Business: Finding Shelter from the Storm | 9/1/1980 | See Source »

...young scholar (Fu Peng) passes the door of a farmer's daughter (Zhao Yanxia) and starts the usual boy-meets-girl talk. The situation progresses, and they burst into song, both in falsetto, until a matchmaker comes along and provides the mandatory happy ending...

Author: /time Magazine | Title: Show Business: China's Whirling Kaleidoscope | 8/25/1980 | See Source »

...Soldier's Embrace, Nadine Gordimer ¶Consenting Adults or The Duchess Will Be Furious, Peter De Vries ¶Joshua Then and Now, Mordecai Richler ¶ Music for Chameleons, Truman Capote ¶ Rough Strife, Lynne Sharon Schwartz ¶ The Magic Labyrinth, Philip Jose Farmer ¶ The Second Coming, Walker Percy

Author: /time Magazine | Title: Books: Editors' Choice | 8/25/1980 | See Source »

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