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...debts to one another. But practically, under the rules of the 118-nation International Monetary Fund, which evolved from the Bretton Woods conference, dollars are actually the medium of exchange through which nations settle those debts. The system was made possible by a promise from the U.S. Treasury to redeem dollars for gold at $35 an ounce. Because of that promise, IMF member nations had been assured that whenever they wanted gold in exchange for the dollars that they held as payment of debts, all they had to do was ask the Treasury Department in Washington...

Author: /time Magazine | Title: The Economy: The Dollar: A Power Play Unfolds | 8/30/1971 | See Source »

...predecessors, and when he likes, he exudes a personal charm and warmth that have struck immense sympathy among those who associate with him. Even those who have left his staff over policy decisions are quick to defend his intellect and his motivations. And if personality traits do not redeem bad decisions and repugnant policies, they do a great deal to make them more understandable; for at the top crust of Washington policy-making, it is the impact of decisive personalities-not that of impressive intellect-which ultimately spurs the winning recommendations and gives them decisive force. And if his reading...

Author: By "the MEANING Of history", | Title: The Salad Days of Henry Kissinger | 5/21/1971 | See Source »

Masaki Kobayashi's Kwaidan (first released in 1965) is a series of four short films that attempt to redeem the supernatural, to reverse the trend toward the merely real or the merely outlandish. Kobayashi doesn't strain toward the fantastic, challenging technology with science fiction. Instead, he looks for the unexplainable within the ordinary, adapting his stories from Japanese folk tales. Though products of a complex cultural tradition, the films are not in the least culture-bound; if anything, they are distinguished by the simplicity of their conception. Like pornography and war, ghosts-when given half a chance-have...

Author: By H. MICHAEL Levenson, | Title: Ghosts Kwaidan | 3/12/1971 | See Source »

...SOLDIEER BLUE is just another Hollywood whore, trying to redeem itself by faking a socially-conscious heart of gold. The film opens with a Chevenne attack on a U.S. Cavalry paymaster's detail and closes with a Cavalry attack on a peaceful and defenseless Chevenne village. But it is only tangentially concerned with such affairs. The bulk of the film is given over to a kind of Western Love Story in which a hard-as-nails white woman wanders about, and eventually falls in love, with a rather silly young soldier. Candice Bergen plays the foul-mouthed girl...

Author: By Gregg J. Kilday, | Title: FilmsCowboys and Vietnamese | 1/29/1971 | See Source »

...communes and children's colonies. These new seekers are hungry not for parsley root and multiplier onions but for meaning, personal identity and love-the sort of things the Nearings could take for granted in 1932. If they find what they are looking for, the discovery could help redeem the country. In the meantime they could do worse than heed the word from Cold Comfort Farm: Keep your compost wet. After a hard winter, even a turnip can look like a godsend...

Author: /time Magazine | Title: Books: Up on the Farm | 1/18/1971 | See Source »

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