Word: francos
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Dates: during 1960-1969
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...defeat of the French at Dien Bien Phu, a conference was called in Geneva in May, 1954. The solution worked out there took no account of the support for the Viet Minh among the peasantry throughout Vietnam: it temporarily divided the country along the 17th parallel and established a Franco-American sphere of influence in the South. This division, supported two distinct objectives: the American intention to keep military and diplomatic pressure on China and the British desire to keep Communist control as far north of Malaya as possible. The U.S., however, refused to sign the agreement, merely promising...
France converted $150 million into gold last month, plans another $150 million conversion soon. Following that lead, Spain has quietly exchanged $60 million of its dollar reserves for U.S. gold-the biggest such transaction of the Franco era. To free more gold to meet rising demand, a congressional committee last week approved President Johnson's proposal to eliminate the 25% gold backing now legally required for deposits held in the Federal Reserve System. But concern is growing in Washington that nations that have so far refrained from converting dollars out of consideration for the U.S. may cash them...
High officials of the Federal Reserve Board believe that De Gaulle, aided by Spain's Franco, is trying to form a new European axis designed to embarrass and weaken the U.S. by attacking the dollar. To buttress the dollar, Federal Reserve Chairman William McChesney Martin Jr. has been strongly urging President Johnson to move swiftly and dramatically to wipe out the deficit in the balance of payments. "Some way or other, something has to be done," Martin said recently. "It is important that we face up to the fact that we have become a chronic deficiteer-and that leaves...
Scottish Student Jailed in Spain--An 18-year-old student from Scotland, Stuart Christie, was sentenced earlier this month to 20 years in jail by a military court in Spain for "terrorist activities" against the regime of Francisco Franco. The student, a self-proclaimed anarchist, was arrested while hitchhiking to Madrid with a knapsack full of plastic explosives. Christie's mother watched the trial, commented laconically: "I don't think it would be taken so seriously back home ... he is very young...
...consider myself a man of center-left political feelings. I would not say that I am admired by the present government," Jaguaribe commented yesterday. He described Brasil as a "rather discreet police state, somewhat like those of Franco and Salazar...