Word: golds
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Dates: during 1950-1959
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...Europe's recovery from the catastrophic economic consequences of World War II. Part of Europe's new confidence in its own currency rested on a decreasing dominance of the dollar. Last year U.S. imports ran considerably above U.S. exports, with the result that $2.2 billion in gold and half a billion in dollars flowed out of the U.S. into foreign treasuries. Armed with increased gold reserves and with the knowledge that the German mark or Swiss franc is just about as desirable a currency as the inflation-dented U.S. dollar, all of Europe's trading nations felt...
...they must within the six-nation Common Market-against those of Germany, Italy and Benelux. Now, in addition to devaluing the franc, France had also to make it convertible-or else face a capital flight away from the franc to the convertible pound or Deutsche Mark. Unlike Britain, whose gold and dollar reserves are at a seven-year high, France is running a $60 million foreign-trade deficit every month...
...more closely in balance than before. Along with this consequence of convertibility went another risk -the prospect that any of the ten new "convertible" nations that fails to control its domestic inflation and maintain its exports at a high level will be faced with a deadly run on its gold and dollar reserves...
...Even the gold-plated A.L.P.A. realized that it had been a grave tactical error to strike at Christmas. Both sides admitted that there had been no outstanding issues between American and the pilots. But American pilots have been flying without a contract for 16 months, and so much bad blood and distrust welled up in the dragged-out negotiations that the American pilots decided to strike at any cost. They had little to lose. A.L.P.A. pays pilots up to $650 a month in strike benefits...
...actually 55 ft. long, doing cartwheels on a top hat that is 16 ft. high. There are some fairly funny sight gags, too. When Tom slides down a rope into the royal treasury, the first thing he sees is a potato sack with a gleaming label on it: GOLD. Jaw dropping, he turns to the next sack. The label reads: MORE GOLD. Best of all, there are two of the most ludicrously sinister villains (Terry-Thomas and Peter Sellers) who ever took sneering lessons...