Word: hoarders
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Dates: during 1970-1979
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...France, for example, a century of wars, devaluations and inflations has left many people with an almost religious reverence for gold. An estimated $4.5 billion worth of the metal is secreted by French hoarders in socks, crockery, mattresses and vaults-more than is held by the Bank of France. Frenchmen buy gold jewelry, pile up gold ingots and collect gold coins-Louis d'or, English sovereigns, American eagles, Swiss Helvetias. They sew gold in their belts when they march off to war. "I invested my first wages in gold in 1949," says one 40-year-old divorcee, recounting...