Word: yen
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...snake is to an elephant: he doesn't ignore it so much as trample over it. The Deer Hunter was a botch as a story, but it had redeeming social delirium. No such luck with Heaven's Gate. An eye for portentous vistas and a yen for pretentious allegory-just those factors that won The Deer Hunter its raves and Oscars-proved Cimino's undoing when he moved from Viet Nam 1970 to Johnson County...
...than 5.5%. Though Japan has run a trade deficit for the past two years, largely because of oil imports, the nation's balance of payments deficit has been improving. As a result, the yen will no doubt continue to remain one of the world's strongest currencies...
...also means bringing con certed pressure on pro-Western members of OPEC, to recycle more of their petrodollars and petro-yen through the multilateral institu tions. Venezuela, a founding member of OPEC, has been assist ing the poorer nations of the Car ibbean basin, and Saudi Arabia spends about 3% of its G.N.P. on aid programs for such relatively poor Islamic states as Pakistan, Syria and Jordan. But Saudi Ara bia's vast wealth represents a global problem and not just a re gional one, since it has accumulat ed that wealth partly at the ex pense...
...respects, OPEC is to the dollar what Charles Darwin was to fundamental Christianity; practically overnight a cartel that controlled most of the planet's known oil reserves demonstrated that financial security was not necessarily descended from paper currency. "The store of value," writes Goodman, "had become oil. The yen, the marks, the dollars, the francs were spent; the oil was saved...
...German economy that is slipping into recession. Moreover, the Bonn government and West German banks are major lenders to Poland and would lose upward of $5 billion if that economically troubled nation defaulted on its loans. In this world turned upside down, the two strongest currencies are the Japanese yen and the British pound. Both have risen dramatically against the DM as well as the dollar, but for different reasons. With 2% unemployment, 6.9% inflation and projected growth of 5.3% in 1981, Japan's economy is far and away the industrial world's healthiest. Bankers believe that...