Word: goldings
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Dates: during 1960-1969
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This year both the French and the Austrians must be delirious with joy. Nancy is walloping them all. In the Winter Olympics at Grenoble, she won a gold medal in the giant slalom and a sil ver in the slalom. Next, in the Arlberg-Kandahar at Chamonix, she won the downhill, slalom and combined trophies. When the tour moved to the U.S., she won all three events at Aspen, Colo. slalom, giant slalom and downhill beating France's Marielle Goitschel by a 1.67-sec. margin in the giant slalom...
...accord arrived at in Stockholm last weekend moved the international monetary system another uneasy step away from disaster. Nine of the top ten financial powers of the non-Communist world reached agreement on the form of a new kind of international money - paper gold - to supplement dollars, pounds and real gold in bank rolling world trade and investment. France refused to go along...
Some agreement was crucial as part of the effort to restore confidence in monetary arrangements, lately shaken by the gold crisis and buffeted by wrangles over the future role of gold in global finance. What the pact demonstrated is that most of the West's leading nations are still able to overcome parochial concerns and organize in the interest of economic stability...
Creation of the new monetary asset still must be ratified by countries representing four-fifths of the $20 billion in assets of the 107-nation International Monetary Fund. That process is expected to require about a year. The paper gold will go by the name Special Drawing Rights, or SDRs, and will be administered by the IMF. Though SDRs will consist entirely of entries on the IMF's ledgers, in proportion to each nation's regular IMF contributions, they will become a permanent addition to the monetary reserves of IMF countries. SDRs will be used to settle accounts...
...prepared for their conference in the turreted Foresta Hotel on a cliff overlooking Stockholm harbor. At a meeting of Common Market ministers in Brussels, France dropped a monkey wrench into the agenda by calling for a complete overhaul of today's monetary system and a return to the gold standard. The other five Common Mar ket countries rejected the idea on the ground that it was no time to debate the design of a new system when the old one verged on collapse. This was a sharp rebuff for the French, who have hoarded gold and warred against...