Word: golds
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Dates: during 1970-1979
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...Europeans want to see Times Square and Harlem and then fly south to Disney World. All this activity represents not just world prosperity but also the swooning collapse of the once almighty dollar, which has sunk 7% against the yen and 10.5% against the Swiss franc since July. Against gold, which is being feverishly traded in major markets, the dollar has slumped about 12% in the same period. The result has been to make the U.S. a bargain hunter's paradise for even middle-class foreigners. More than 20 million foreign tourists are expected to visit the U.S. this year...
...dollar's slide, the Carter Administration began a series of steadying actions last week. The U.S. Treasury announced that starting in November it would boost its gold sales from 300,000 oz. per month to 750,000. To allay any speculation about the oil-rich nations turning against the dollar, Treasury Secretary W. Michael Blumenthal met with Saudi Arabian Finance Minister Mohamed Abdel-Kheil at Disney World, of all places, where the minister was vacationing with his family. Blumenthal suggested that a timely statement of support might give the dollar a lift. Soon after, Crown Prince Fahd declared that...
Many people have accused governments of piracy, but few have as good cause as Melvin Fisher. In 1971 Fisher, 56, located a Spanish galleon that sank off the coast of Florida in 1622 carrying 47 tons of gold and silver. Since then, he and his company have been diving for the treasure, which could be worth as much as $600 million. The mission's cost so far: $5 million and four lives, including that of Fisher...
...Robert Hackett, an All-American swimmer who as a freshman last year launched a one-man crusade against the Harvard record book. One more thing: before coming to Harvard, Bobby won a silver medal at the Montreal Olympics. He's not a bad bet to take a gold or two at Moscow, either...
...elude the sabertooth. Ancient Babylonia invented marine insurance, but notoriously litigious Americans have always wanted more than mere insurance. As soon as the automobile became popular, the motoring public began to develop what San Francisco Liability Lawyer Scott Conley calls the belief that "there must be a pot of gold at the end of every whiplash." Now the old litigious spirit has become almost a reflex. Malpractice suits against doctors are epidemic. The volume of damage suits, doubling in some jurisdictions in the past ten to 15 years, has been increasing five times as fast as the population in bellwether...