Word: less
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Dates: during 1970-1979
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...industrial nations have the biggest bullion stocks, in terms of tons and also as a percentage of total reserves, so they gain most from a gold boom; the poorer states, with relatively meager holdings, benefit much less. Says an official at the British Ministry of Overseas Development: "We have a new category of haves and havenots. The Less Developed Countries, as usual, are suffering the most...
Most of the buy orders are for $10,000 or less, and some of the checks being used for payment are being drawn on credit unions and savings banks by small investors. Joseph Hale, president of World Wide Coin Investments in Atlanta, reports that one client wanted advice about whether to sell her house to buy gold. Most small investors appear to be looking not so much for profit as capital protection...
...John J. ("Black Jack") Pershing chased Pancho Villa south of the border in 1916, the two countries last week initialed an agreement for the sale of 300 million cu. ft. of gas daily at an initial price of $3.63 per 1,000 cu. ft. The gas involved amounts to less than 1% of total U.S. consumption and is far under the 2.2 billion-cu.-ft.-per-day deal envisaged in July 1977 when Pemex, the Mexican state oil company, signed a letter of intent with six American pipeline companies...
...only effort at hard news was a watery recap of the Rhodesian peace talks. Judged the Financial Times: "Newsmagazine is precisely what the first issue is not. It is a feature magazine, and not an especially good one at that." Said Sunday Times Editor Harold Evans: "There is less of a feeling of a window on the world than TIME or ... various British Sunday papers...
...Arledge hired Richard Wald (once head of NBC News) to run his news operation, a job that Wald defines as "calming the process down." Salant concedes that ABC is "a good news organization now," though he still ridicules those three scattered anchormen: "Having somebody in London, 3,000 miles less far from a story, is hardly having him at the scene...