Word: zuricher
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...collecting a commission, the Swiss charge buyers of gold more than they pay sellers. That "spread" started out as high as $3 per oz. in the first days after the London gold pool's demise; last week it narrowed to 25? per oz.-a competitive move that helped Zurich gold sales to reach 65 tons, v. 40 tons in London...
...aristocracy, not by the man in the street." After the Barricades. He did have a point. The anarchistic, anti-artistic spirit of Dada arose almost simultaneously in New York and Europe from the spiritual debris of World War I. It was baptized by two artistic types in Zurich who flipped open a dictionary at the word dada, French baby talk for "hobbyhorse." Incorporated into the more structural surrealist movement in 1924, it immortalized a species of hoopla and hubris that has become characteristic of modern American society. Dada's pranks and surrealist spectacles were revived in the 1960s...
...their decision to leave the official price intact while abandoning the gold pool, the seven nations pulled a 24-karat rug out from under the hoarders. As Zurich Banker Hans J. Baer put it: "The central banks are saying to the speculators: 'Take it to the dentist.' ! With the London gold market, the world's largest, closed until April 1, the demand for gold dropped abruptly last week in smaller markets elsewhere. In Zurich, gold bars that brought $43 per oz. at the start of the week sold for $39.25 by week's end. In Paris...
...dollar are closely linked, that was enough to drive the value of the pound down to a record low of $2.392, despite efforts by the Bank of England to prop it up. (In Montreal, quotations in 9210 Canadian dollars registered a comparable price.) Gold sales also soared in Paris, Zurich and Frankfurt. Everywhere, buyers were betting that the U.S. would be forced to raise the price of gold - a step tantamount to devaluing the dollar. Though the Treasury and White House Press Secretary George Christian reaffirmed the obviously firm U.S. intention of continuing to sell gold...
...terms for a $30 million offering to be sold later in the month, and National Biscuit Co. also announced a $30 million issue. Underwriters predict that U.S. companies will soon announce plans to sell as much as another $200 million worth. "People have been flabbergasted by the volume," says Zurich Banker Hans...