Word: golds
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Dates: during 1970-1979
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...essential supplies for the long week ahead. But do not buy any Canadian Club whiskey. The C.C. people have informed me that they hid a case of their wonderful blended whiskey somewhere in Boston. Your mission this week, should you choose to accept it, is to find that gold mine. The following clues will prove helpful...
...elements over the earth, he grew tired when he got here, mixed up everything he had left, and dumped it haphazardly." BAM will eventually carry a marvelously mixed bag of these riches: petroleum from major new oilfields in Western Siberia, coal from Neryungri and Chulman, iron ore and gold from Aldan, diamonds from Yakutia, and salt, asbestos, molybdenum, copper, tin and bauxite from various areas. Shipped to Japan and other resource-hungry nations, such exports will help Moscow earn the foreign currency it needs to pay for technological development...
...price of gold, that classic refuge of investors who lack confidence in the dollar, soared nearly $4 per oz. in a single day, one of the largest jumps in postwar history. In London and Zurich, gold hit $190 per oz., just below the alltime high achieved in December 1974. At week's end, though, it sank back to around...
...this picture of a self-indulgent America, blind to the consequences of its economic management, has been steadily hardening since the late 1960s. Until then, the non-Communist world had lived fairly comfortably with a system of currency exchange rates pegged to the dollar, whose value was fixed in gold (at $35 per oz., a price that seems ridiculous today). That system might not have lasted in any case; even in the early 1960s there were worries about American balance of payments deficits and an outflow of gold from the U.S. But Lyndon Johnson put an intolerable strain...
...could no longer maintain the tottering system, so the Nixon Administration abruptly announced that it would stop redeeming dollars for gold. That left U.S. allies stuck with dollars that were worth only what they would bring on the exchange markets. Two formal dollar devaluations followed, and eventually, five years ago this month, fixed exchange rates were dumped. Throughout this process, the U.S. seemed complacent, even proud. John Connally, who was Treasury Secretary when the gold window slammed shut, boasted that he had acquired a reputation as "a sort of bullyboy on the manicured playing fields of international finance." Nixon...