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...Most spectacularly, after geologists in the Soviet Union came across a huge field of diamonds in the Siberian tundra in 1956, De Beers made an unprecedented offer: it would buy the entire run at a guaranteed price. The profits-estimated at $25 million a year-bolstered the Kremlin's treasury and helped fund the buildup of nuclear arms. The Russian gems went into the vaults under Charterhouse Street. When the Soviet Union unraveled in 1990, De Beers went back to Moscow, offering the transitional government $1 billion in exchange for part of the nation's stockpile of Siberian diamonds. Diamonds...

Author: /time Magazine | Title: The Dark Core of a Diamond | 6/20/2006 | See Source »

...green ribbons into passing cars. Then gradually the crowd began to march. A scared communist official told an American businessman: "The earth is moving." The earth moved to the tread of a million feet in Hungary last week, and a satellite which had been blindly spinning in the Soviet orbit for 11 years suddenly swung out of its gravitational course. It had never happened before. As the world looked on, incredulous, a people armed principally with courage and determination (and a few filched guns) fought one of the most spectacular revolutions of modern times. Behind barricades, from rooftops and apartment...

Author: /time Magazine | Title: Hard Days | 6/18/2006 | See Source »

...Grammar School in south London.) It's not because Eton lacks famous alumni. Its graduates include 19 British Prime Ministers, the founder of modern chemistry Robert Boyle, the Duke of Wellington (the one who defeated Napoleon at Waterloo), economist John Maynard Keynes, writers Percy Bysshe Shelley and George Orwell, Soviet spy Guy Burgess, actor Hugh Laurie, Princes William and Harry, the fictional James Bond, even a Roman Catholic saint - as well as generations of less illustrious worthies. The problem is that in a more meritocratic age, Eton became synonymous with "English aristocrat." Its well-worn image is as a finishing...

Author: /time Magazine | Title: A New Kind of Elite | 6/18/2006 | See Source »

...friends are bewildered by the changes that occurred between visits. The economic boom is taking place at a time when the U.S. and India are forging new ties. During the cold war, relations between New Delhi and Washington were frosty at best, as India cozied up to the Soviet Union and successive U.S. Administrations armed and supported India's regional rival, Pakistan. But in a breathtaking shift, the Bush Administration in 2004 declared India a strategic partner and proposed a bilateral deal (presently stalled in Congress) to share nuclear know-how. After decades when it hardly registered in the political...

Author: /time Magazine | Title: India Awakens | 6/18/2006 | See Source »

Peter Beinart's essay "Let Your Enemies Crumble" [June 5] correctly pointed out that containment policies against repressive regimes have been successful, most notably with the Soviet Union during the cold war. The Soviet leaders, however, were consistently capable of rational judgment, whereas Saddam Hussein was not entirely so--which made him far more unpredictable and dangerous. If Saddam were still in power, isn't it likely that he would have been able to reconstitute at least some of his WMD programs by now? CHANNING BLICKENSTAFF West Lafayette...

Author: /time Magazine | Title: Letters: Jun. 26, 2006 | 6/18/2006 | See Source »

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