Word: systemization
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Dates: during 1960-1969
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Still, the 20% gap between the different prices revived skepticism about the durability of the "two-tier" price system. In last year's gold rush, the $3 billion that drained out of official reserves created a price-stabilizing oversupply of the metal in the free market. Now that cushion is depleted because speculators have bought it up. If the price gap grows larger, the central bankers of smaller nations might be tempted to unload official stocks of gold at the much higher free-market price-thereby circumventing the two-tier arrangement...
...tier system has worked well so far, but its future is imperiled by a fundamental defect. When central bankers decided to let the marketplace set the price of gold for speculators, hoarders and industrial users, they also agreed to stop buying and selling the metal except to settle debts among nations. Thus the world's monetary gold stocks were artificially frozen at $40 billion. But nations' appetites for gold have grown stronger, and their trust in paper currencies has become weaker. In the past year, these countries have changed the percentages of gold (as against paper money...
...During 1968, the U.S. lost $1.2 billion in gold, leaving the U.S. with only $10.9 billion of the metal to meet $30 billion of potential foreign claims against the dollar. Though most of the loss came before April and the U.S. gold stock has stabilized since the two-tier system was set up, the total is low enough to cause concern. Warns Vice President Harold
...like ly to end one practice that the Justice Department criticized: the policy of selling computers, software and related services to customers on a single-price, all-or-nothing basis. That tends to freeze out small suppliers, which can offer only pieces and parts of the total system. Aware that Justice has been investigating the computer industry for two years, IBM last month said that it would proclaim a new policy no later than July...
...Cohn-Bendit, a chubby sociology student of German descent. They called him "Danny the Red"-not only because of his shock of reddish hair but because of the ideas with which he fired his fellow enrages. Dismayed by society, they demanded nothing short of a complete overthrow of the system. Now Cohn-Bendit, banished from France after his abortive attempt at revolution, has combined forces with his brother Gabriel, who is a professor of German at Saint-Nazaire university, to provide "an echo of the great dialogue that was begun in the forum of the Latin Quarter...