Word: rios
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...Vietcong, American bodies will be any safer from amphibious attacks from other "third world" powers. But it is not impossible that LBJ has decided to use the Vietnam war budget to provide secret funds for a new network of underwater electronic barriers in the Atlantic, Pacific, Great Lakes, and Rio Grande to halt all future North Vietnamese infiltration...
Such an ambitious step has never before been attempted. The Rio agreement, in fact, is only a beginning; the accord must still be reduced to legal form and then ratified by national legislatures. Moreover, further agreement will be needed on when to put the plan into operation. Best guess: 1969 at the earliest...
After four years of bickering, bargaining and brain-racking compromise, 107 nations reached a historic agreement last week in Rio de Janeiro. They found a mutually satisfactory method for overhauling the free world's strained and out-of-date monetary system. Without dissent, finance ministers from the member countries of the powerful International Monetary Fund approved the cautiously controlled creation of what amounts to a new kind of international money-a combination of currency and credit that would supplement the gold, dollars and pounds that now bankroll world trade and investment...
Thus Japanese Finance Minister Mikio Mizuta echoed the sentiment of most of the 2,200 delegates, bankers and officials in Rio when he called last week's agreement "the greatest step forward since the creation of the IMF" 23 years ago at Bretton Woods, N.H. It was also a considerable personal triumph for U.S. Treasury Secretary Henry Fowler, who had to overcome the fears of skeptical central bankers that the U.S. would use S.D.R. to cover up its chronic payments deficit...
With considerable finesse, the bank also thwarted efforts to drive Rio's ubiquitous ladies of the night off the streets. Convinced that the girls are a picaresque asset that visiting bankers would want to see, if not buy, the chief of the foreign-capital division struck a deal with the streetwalkers: the girls would be unbothered if they policed themselves and kept their diseased and theft-prone sisters out of action for the week...