Word: goldings
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Dates: during 1970-1979
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...Jewel food stores official in Chicago, "what's Thanksgiving without a turkey?" At Camp David, where the Carters were celebrating with a swirl of Georgia relatives from both sides of the family, a 36-lb. turkey named Purdue Pete was flown in from Indiana in a black and gold cage to be prepared for the dinner table...
...money, and when that fails, defer to money. Consider a recent black-tie dinner for eight in the Trousdale Estates section of Beverly Hills, where liveried attendants park the cars and the houses are modeled after Tiberius' villas on Capri. The table was authentic Chippendale, the service gold leaf, the goblets and tableware gold. A chamber trio played. Among the guests: a history professor, a concert pianist, the wife of a German philosopher. And beside her: a young actor in a shimmering silk T shirt with a yo-yo appliqued on its front; the guests all deferred...
...gold. Other investors may look on the yellow metal as the ultimate safe haven for capital, but the Saudi government realizes that since gold supplies are small any buys on the scale it would make would send prices into the stratosphere...
...banking experience. Western diplomats who deal with them say the Saudis fear that if they go into long-term investments they will be conned by fast-talking flimflam artists. Richard Erb, an economist who once watched Saudi policy for the U.S. Treasury, adds that the Saudis will not buy gold because they are afraid of being seen as "dumb Arabs" who do not know what else to do with then" wealth...
...will rush to buy dollars as soon as they become convinced that the U.S will stick to a clear-cut economic policy. In Whitman's view, the Administration's dollar-revival plan consists of one Band-Aid and one magic bullet. The move to big intervention-selling gold, buying dollars-will barely patch a scratch. But the shift to tighter money, she believes, will be the real cure for the dollar's debilities. The trouble is, the early side effects will be bad: higher interest rates, which lead to higher prices for a while. In time, however...