Word: non-communist
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...Crucial Overhang. Last year global demand for silver amounted to 397 million oz., but production in the non-Communist world was only 247 million oz. What speculators grossly underestimated, however, was the size and importance of the "overhang"-the hoard of silver being held aboveground by corporations and private investors. There is an estimated 450 million oz. in bullion stored in the U.S. and Europe, plus 500 million oz. more in private U.S. coin collections. Moreover, millions of people in India are believed to own several billion oz. of silver jewelry and other heirlooms. Such huge hoards guarantee that...
With obvious relish, Connally told the Japanese, who desperately want a quick solution to the international monetary crisis, that the U.S. was not responsible for delaying a settlement. He noted that he had to postpone the next meeting of the finance ministers of ten major non-Communist trading powers, a group of which he is chairman, from Nov. 22 until early December because "the European countries have had difficulty getting a common position." That remark touched a sensitive nerve in Common Market countries, which have been charging that the U.S. is dragging its feet on solving the world...
...industrial users, who have sent the "free" prices up in the expectation that there would ultimately have to be an increase in the "official" $35 price, which is used in exchanges between governments. Indeed, if the U.S. were to raise the official gold price, Washington might well persuade major non-Communist governments to join in a declaration that the problem of gold value was solved and to pledge that there would be no further increases. With that, the "free" price of gold would probably decline, and the large producers and hoarders of gold would stand not to gain but actually...
...harsh totalitarian rule." In what ways is the North "totalitarian"--the word soon loses all meaning--compared to the police state of the South? At another point, Ulam writes, "A totalitarian regime, especially a Communist one, seldom has much difficulty in repressing a budding guerrilla movement....An authoritarian non-Communist regime can sometimes deal with an incipient revolt with the same massive retaliation technique....A democratic country simply cannot have recourse to such methods." One wonders if Ulam has heard of saturation bombing. Does he read the newspapers? Or does he glean his Indochina analysis from Presidential television speeches...
Smithies proceeds "on the assumption that the first alternative, which is clearly preferable, is also feasible." He is unable to envision a coalition government somewhere in between, a government that would combine collectivist holding patterns with a non-Communist framework...