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...most part, the $475 million went to cover the U.S. commitment to the seven-nation international gold pool in London. Meeting secretly at the Bundesbank in Frankfurt when Britain devalued, the pool governors determined to continue sales of gold at $35 an ounce in order to thwart speculators who bought in hopes the price would rise-which would, in effect, devalue the U.S. dollar. The big payment by the U.S., which has a 59% share in the pool, by no means represented the total cost of the defense. Britain, West Germany, Italy, Switzerland, Belgium and The Netherlands, who hold...

Author: /time Magazine | Title: Money: Sanguine & Somber | 12/15/1967 | See Source »

Trial for Fascism. At the annual Frankfurt fall book fair, 200 chanting students gleefully tore up Springer books and magazines. Oblivious to similar acts in the Nazi era, left-wing Erlangen University students staged a burning of Springer publications. A group of liberal writers declared they will never again write for a Springer paper and urged their publishers to withhold advertising from Springer publications. When Springer went to give a speech at the Hamburg Overseas Club recently, he had to slip in a side door while five squads of riot police protected him from angry pickets, whose banners declared: "Never...

Author: /time Magazine | Title: Publishers: The Oak Attracts the Lightning | 11/24/1967 | See Source »

...received, as he writes, "a liberal education in the horrors of Stalinism." He arrived in Prague on Sept. 29, 1938, the day of the Munich Conference. He was in Berlin from 1939 until Pearl Harbor, when the Nazis interned him and 130 other Americans for 51 dreary months near Frankfurt. (After his release, Kennan recalls sarcastically, he was told that "none of us were to be paid for the months we had been in confinement: we had not, you see, been working.") He returned to Moscow in 1944, just when Stalin was rolling up his sleeves and getting ready...

Author: /time Magazine | Title: Books: Swing of the Pendulum | 11/3/1967 | See Source »

...this way, Nehemiah has come a long way from Frankfurt, his birth place. But he has not left his past behind him yet. Nehemiah is secretary of Ayeleth Hashachar--a combination of mayor, personnel supervisor, presiding elder and youth coun selor. Essentially, he is responsible for the immediate well-being of 1000 men, women, and children. The job requires all the managerial talent of a Ford presidency and sets a pace that would leave any tycoon panting. He has more than handled the challenge. This is his second term as secretary, and he's been asked to stay six months...

Author: By David Blumenthal, | Title: Israel: The View From a Kibbutz | 10/18/1967 | See Source »

HOLIDAY ON ICE (ABC, 7-8 p.m.). Jonathan Winters hosts the ice-travaganza featuring such figure-skating champions as The Netherlands' Sjoukje Dijkstra and Germany's Marika Kilius and Hans-Jurgen Baumler. From Frankfurt's Festhalle...

Author: /time Magazine | Title: Television: Sep. 22, 1967 | 9/22/1967 | See Source »

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