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...currency that no one would take, the tension at the emergency meeting of finance ministers -last week's international monetary crisis was certainly the worst since World War II. Even so, its true gravity could not be gauged by those factors alone. Precipitated by German Economics Minister Karl Schiller in order to get European agreement on new monetary measures, the upheaval at first seemed artificial and contrived. But it quickly became a pointed revolt against the U.S. dollar, the foundation stone of the whole system of Western finance. For the first time, much of the world, in effect...

Author: /time Magazine | Title: Business: The Dollar Crisis: Floating Toward Reform? | 5/17/1971 | See Source »

...European ministers minced no words in blaming the U.S. for their di lemma. Said French Finance Minister Valéry Giscard d'Estaing: "Europe is having to pay for the U.S. policy of growth and full employment." Schiller was even more direct: "The U.S. deficit of payments can no longer be tolerated with benign neglect...

Author: /time Magazine | Title: Business: The Dollar Crisis: Floating Toward Reform? | 5/17/1971 | See Source »

...monetary crisis began when some remarks by Schiller led money speculators to believe that Germany would soon raise the official value of the mark above its present 27.3?. Speculators immediately started selling dollars for marks, hoping to make a quick profit. Contrary to popular opinion, the speculators are not shadowy characters operating on European back streets; most are treasurers of multinational corporations, many American. At any one time they hold huge quantities of various moneys, and they regard it as only prudent to shift funds out of a currency that looks as if it may fall in value into...

Author: /time Magazine | Title: Business: The Dollar Crisis: Floating Toward Reform? | 5/17/1971 | See Source »

...example: Hopper boasts that he can make "oh, six . . . eight . . . eighteen" girls in one night. The following scene shows the girls-burlesque queens, whores, coed groupies-entering Hopper's Taos. New Mexico ranch. kindly imported by Schiller and Carson. The reaction of one of Hopper's steady women is shock and jealousy-why are they here? why is the camera on them and not me? When Hopper joins the group, he is nonplussed. (Perhaps his dream has been greater than his reality.) He plays games with the girls. out of fear, amusement and affection; his narration tells us that...

Author: By Michael Sragow, | Title: Films The American Dreamer thru Sunday, at Hayden Hall, B.U. | 4/30/1971 | See Source »

...film is worth seeing, both for its isolated insights into the life of an aging easy rider, whose crazing shock-treatment morality has outlived its initial impetus, and for the scenes which point to the possibility of a Pirandellian cinema. From his work here (Schiller credits him with organizing the individual scenes) and in David Holzman's Diary (in which he starred and improvised), Kit Carson seems to be heading towards a purified art, reordering basic human inter-actions with society and environment. The attitudes the film's subject expresses and the values it places on surrounding materials would determine...

Author: By Michael Sragow, | Title: Films The American Dreamer thru Sunday, at Hayden Hall, B.U. | 4/30/1971 | See Source »

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