Word: pounded
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Dates: during 1960-1969
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...share his power and refused to veto its actions even when he disapproved of them. With $700 million a year in oil income, Kuwait became one of the world's major financial powers; its millions on deposit in London are a principal prop for the hard-pressed British pound. While his people enjoyed free education, medical care and telephone service plus air-conditioned homes for as little as $1.40 a month, Abdullah lived in a mud-walled house, dressed and ate simply. On his deathbed, too weak to speak, he gestured for a writing pad and scrawled his last...
Despite the British boycott of tobacco, Rhodesians were still planting it in hopes that by the time their crops mature next April they will be able to find a market. Despite stringent trade and currency restrictions designed to undercut the Rhodesian pound, the new nation's hard currency reserves actually increased by $2,224,000 last week. The settlers might grumble at Smith's austerity taxes, which sent the price of Scotch whisky up to $5.46 a bottle, but the majority of them still supported him -and resented what they considered British treachery at trying to force them...
...plant in Indiana to satisfy its customers' appeals for more tubes. Such producers of rare earth as Molybdenum Corp., American Potash & Chemical and Ronson, which supply the metallic elements europium and yttrium for the coatings that brighten color TV tubes, are rushing out orders at $1,000 per pound...
Customers Lost. Aware of this, Britain hopes to topple Rhodesia's Ian Smith with a sophisticated attack on the Rhodesian pound. The pound has been ordered to a kind of Commonwealth Coventry: Rhodesia's $60 million sterling account with the Bank of England has not been frozen, but new exchange controls prevent British businessmen from accepting Rhodesian pounds and force them to channel payments to Rhodesia into special accounts held up at the bank. The London capital market, on which Rhodesia's 2,700 tobacco farmers depend, has been barred to them. A nation whose economy...
...helpful by sending the Davies mission to Hanoi. But England wants to pull its troops out of Malaysia, and no doubt a good many Labour backbenchers would like to lash out more loudly against the war. But until Britain can become less dependent on U.S. help to steady the pound, their protest will be unheeded...