Word: krugerrand
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...nation's largest retailer of gold coins, Chairman Nicholas Deak reports that some of his recent customers have been high school kids. Says he: "It's a little scary. They just walk in and say they have a little money and they want to buy a Krugerrand...
Some forms of gold investment may turn out to be sucker's bets. Anyone with just one Krugerrand can boast about his "gold holdings," but the coins typically sell for 6% to 10% above the going rates paid by dealers for bullion. Worse, some banks and jewelry shops that sell them will not buy them back except at a similar-size discount, and a number of retailers will not repurchase them...
...might be "harmful." The standards that this newspaper should apply, we believe, should be designed to allow maximum exchange of information, and should exclude only those advertisements that present a strong, clear and direct link to the perpetration of a gross injustice. Such is the case in the Krugerrand ad; such is not the case in the Playboy ads. As much as we, too, would like to rid the world of injustice, we do not think that newspapers should strike advertising except for reasons that are clearly defined, and imply rigorous standards. The reasons given for the refusal...
...years, we have maintained that we will not accept certain advertisements that have been shown to contribute, in a specific way, to the oppression or exploitation of a defined group or class. That reasoning led us last year to refuse ads for the South Africa Krugerrand gold coin, and to reject advertisements placed by the South Africanbased de Beers diamond mining firm. ads, it was clear, enabled one group of people to perpetrate specific economic and political injustices against the blacks of- South Africa. For us to have accepted money for those ads would have given us, in effect, clients...
...argue, as some of the majority did, that this advertisement was in the same category as those for Krugerrands or South African diamonds, is to ignore the key issue of choice. We refused to take Krugerrand or diamond ads because they contributed, in a direct way, to the maintenance of a clear injustice, built into the structure of the South African economy--a system from which repressed black workers cannot escape, and which continues to deprive them of tangible economic and political rights. It is difficult to see how this argument of repression can apply to an ad which presents...