Word: francs
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Dates: during 1970-1979
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Until recently, gold was only one of several beneficiaries of the global flight from the dollar. Investors also chased after the "hard currencies" that were not being debauched by inflation, especially the Swiss franc, the mark and the yen. As the dollar plunged, these currencies rose along with the value of gold. That is now beginning to change as more investors conclude that ultimately no industrial nation can withstand inflation and energy-related shocks. Says Guy Field, a London gold dealer: "Last year the high price of gold reflected the decline of the dollar on exchange markets. But gold...
...successful American who ought to have confidence that the future will be as good to him as the past has been. But says he: "In 1975 I started to worry about where I could put my money. I say one thing to myself: it's not the franc or gold or silver that is going up, it's the dollar that is going down, and that's what worries me. Soon we will all be making $100,000 a year, and instead of increases in buying power we'll have $1 candy bars...
...that when he sneezes "people around me get cured." By happenstance, Henry extricates Sally Morgan, a coy maiden winsomely played by Beth Austin, from the maritally-minded clutches of Sheriff Bob (J. Kevin Scannell), a sage brush Keystone Kop. Sally's true love is Hiawatha, or rather, Wanenis (Franc Luz), a noble North American savage from red-blooded Dartmouth. She gets him, and after a number of featherbrained misadventures, Henry finds perfect health and pneumatic bliss in the arms of a lusty-voiced, opulently endowed nurse (Carol Swarbrick...
...spurs more inflation. Treasury Under Secretary Anthony Solomon, with Blumenthal's support, argued against doing anything to prop the dollar until its rout had degenerated into a panic-by which time the greenback had sunk 18% against the German mark and 26% against both the yen and Swiss franc. Reports TIME Washington Economic Correspondent George Taber. "The U.S. this year paid a heavy price to learn something about world money markets. One of the tragedies is that there was nobody in the Treasury Department with any firsthand experience of how the markets worked-and the markets knew that...
...speculators who had been dumping dollars in the conviction that Washington would do nothing much to stop the slide scrambled to buy back bucks. In chaotic trading on Wednesday, the dollar rose 5% against the Japanese yen, 7% against the West German mark and 7.5% against the Swiss franc. Gold, which speculators buy when the dollar is sick and sell when they think it may recover, fell a startling $23 an ounce by the end of the week...