Word: golde
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Dates: during 1970-1979
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Years from now I will no longer remember that the defending gold medalist had coasted along in second place before making his move at the beginning of the bell lap, ending the mounting suspense with a blistering finish. The controversy over blood doping will be forgotten. But that victory tour of the massive stadium will remain in my mind, not because of the uproar raised by Puma and Adidas over Viren's "blatantly commercial" display of his shoes, but because of the spontaneous surge of nationalist feeling by flag waving, chanting Finns for their tired hero. The only reason that...
Several American athletes have warned against this trend away from the individual. Discus thrower Mac Wilkins, who won a gold medal at Montreal, told reporters that he was threatened with expulsion by United States Olympic officials for training away from Montreal even though he could not concentrate in the Olympic village. He went on to say that his victory was an "achievement for myself." Arnie Robinson, the victor in the long jump competition, felt that his medal was a reward for his long hours of training. "I won for myself, my family," Robinson said...
Some Americans felt more patriotic such as four gold medal swimmer John Naber ("I won by myself but for the United States") and heavyweight boxer John Tate, who draped a jacket over his imposing 228 pound frame which said, "Big Daddy Tate loves America." But they were not attributing their successes to the nation or President Ford either...
...gold bust is bad news for developing countries. The IMF puts the profits from its gold auctions into a special trust fund to aid poor nations; now the trust fund will be leaner than expected. The price collapse also poses problems for countries like France, Italy and Portugal, which hold a large proportion of their monetary reserves in gold.* It is even embarrassing to West Germany, which two years ago lent $2 billion to Italy against gold collateral-valued at what then seemed a ridiculously low $120 an ounce...
South Africa, the world's largest gold producer, is being hurt most. The price drop will cost it at least $200 million in potential export earnings this year, worsening an already serious balance of payments deficit (running at about $1.9 billion on current account this year). Last week South Africa moved to cut imports; beginning Aug. 2, the government will require importers to deposit 20% of the price of certain foreign goods with the treasury for six months, at no interest. The unemployment rate among the nation's black workers has already hit 20%; layoffs at the gold...