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...week the dollar came under a concentrated cannonade from some financial Guns of August, and its steady, summer-long retreat turned into a disorderly rout. It fell 4½% against the Swiss franc in a single day, while the price of gold, the ultimate refuge for investors worried lest their dollars become worth much less, hit an unheard-of $215.90 an ounce. So the White House passed the word that President Carter was "deeply concerned" and had asked Treasury Secretary W. Michael Blumenthal and Federal Reserve Chairman G. William Miller for advice on what he could do to stop...

Author: /time Magazine | Title: Business: Greenbacks Under the Gun | 8/28/1978 | See Source »

...more carefully: he warned that a divorce referendum in Italy would result in a resounding defeat for the church, which is precisely what happened. It is, however, unlikely that any Cardinal from a major Western nation, such as France, West Germany or, above all, the U.S., would be chosen, lest the Vatican be identified too closely with big-power politics. No Americans are considered papabili anyway...

Author: /time Magazine | Title: Religion: After Paul: The Leading Contenders | 8/21/1978 | See Source »

...achieved. This way they run the risk of being dubbed a new imperial power, as indeed they already are being called even by those with whom they have had long association." That was a clear reference to Egypt, Somalia and the Sudan, all of which have expelled Russian advisers. Lest anyone miss his point, Obasanjo concluded: "We must be the prime determinants of our destiny. Let the Soviets and their collaborators heed this timely counsel...

Author: /time Magazine | Title: AFRICA: Strong Words from a Statesman | 7/31/1978 | See Source »

...houses of Congress overwhehnhigly adopted resolutions deploring the trials and the Soviet denial of human rights. Democratic Senator Henry ("Scoop") Jackson urged, in vain, that Secretary of State Vance should post! pone his trip to Geneva for a SALT conference with Soviet Foreign Minister Andrei Gromyko (see following story), lest the willingness to continue negotiations be interpreted as "the wrong signal at the wrong time." His fellow Senator Daniel Moynihan said that "to send Vance to Geneva is to participate in the butchery now going on in the Soviet Union." A senior White House official declared...

Author: /time Magazine | Title: Nation: A Sadness the World Feels | 7/24/1978 | See Source »

Administration officials have good reason to be publicly cautious in their prognoses. For one thing, breakthroughs in the past have faded embarrassingly quickly in the face of continued negotiating deadlocks. For another, Washington does not want to appear too eager for an agreement lest that weaken its bargaining position with Moscow and later make it more difficult to win ratification in the Senate. As it is, Senate approval is far from assured...

Author: /time Magazine | Title: Nation: Once More, with Feeling | 7/17/1978 | See Source »

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