Word: stockholms
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Tougher for Speculators. The welcome calm was fostered both by Viet Nam peace hopes and by the previous weekend's international agreement in Stockholm on the creation of paper gold to bolster the world's monetary system. Three new restrictions imposed by the Bank of England, which regulates British financial dealings, also made trading tougher for speculators. The bank forbade sales of gold for future delivery, barred banks or gold dealers from lending foreign currency to nonresidents to finance gold buying, and even prohibited them from accepting gold as collateral for loans in foreign monies. For their part...
...accord arrived at in Stockholm last weekend moved the international monetary system another uneasy step away from disaster. Nine of the top ten financial powers of the non-Communist world reached agreement on the form of a new kind of international money - paper gold - to supplement dollars, pounds and real gold in bank rolling world trade and investment. France refused to go along...
...Cliff. Tensions rose steadily all week as the finance ministers of the ten powers-the U.S., Britain, Canada, Sweden, Japan, France, West Germany, Italy, Belgium and The Netherlands-prepared for their conference in the turreted Foresta Hotel on a cliff overlooking Stockholm harbor. At a meeting of Common Market ministers in Brussels, France dropped a monkey wrench into the agenda by calling for a complete overhaul of today's monetary system and a return to the gold standard. The other five Common Mar ket countries rejected the idea on the ground that it was no time to debate...
Arriving at Stockholm airport, Finance Minister Michel Debré stirred more concern by repeating the French demands with embellishments. As the conference opened, club-wielding police broke up a demonstration against the Viet Nam war by 150 young Swedes, some of them carrying signs reading SUPPORT FOR THE DOLLAR IS SUPPORT FOR GENOCIDE and NO CREDITS TO U.S. MURDERERS. Treasury Secretary Henry Fowler, chief U.S. delegate, took a back entrance to avoid the melee...
...Jones HI, the middle-class Detroit Negro who was the first defector to arrive. A Swedish resident since January 1967, Jones had been given an apartment in suburban Stockholm, found work for himself as a dancing teacher and for his German-born wife as a secretary, and fathered a son. Yet last week Jones let it be known that he had had his fill of Sweden. Complaining that "the Swedes have a natural prejudice against black people," he presented himself to the American embassy in Stockholm and asked for transportation back to his unit in West Germany, where he faced...