Word: pounded
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Dates: during 1960-1969
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After last November's devaluation of the British pound, persistent fears of a much greater upheaval began gnawing at the foundation of world finance. The resulting rush to exchange dollars for gold drained well over $1 billion from the dwindling U.S. hoard of bullion, cost the seven-nation London gold pool close to $2 billion. Like Britain, the U.S. has been living extravagantly be yond its budget, partly because of the heavy cost of the Viet Nam war but also through increased spending at home. Speculators' appetite for gold is only the most dramatic symptom of a monetary...
...doubts about the strength of the dollar and the international monetary system. On the London market, gold purchases reached some $300 million, many times the nor mal demand. Because the fortunes of sterling and the dollar are closely linked, that was enough to drive the value of the pound down to a record low of $2.392, despite efforts by the Bank of England to prop it up. (In Montreal, quotations in 9210 Canadian dollars registered a comparable price.) Gold sales also soared in Paris, Zurich and Frankfurt. Everywhere, buyers were betting that the U.S. would be forced to raise...
...field events, Harvard's qualifiers are Dick Benka in the shot put, Steve Schoonover in the pole vault and Charlie Ajootian and Ron Wilson in the 35-pound weight...
...pound junior's gold medal was the first a Harvard performer has won in the IC4A's in four years...
Harvard's entrants also finished high in the 35-pound weight--picking up five more team points--to give the Crimson the meet lead after the first two events...