Word: centralize
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Dates: during 1960-1960
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...burning villages and killing dozens of Tshombe loyalists. Until the U.N. neutralized much of Tshombe's army by cutting off fuel supplies and refusing it transport, Katanga troops killed scores in punitive raids on Baluba villages. Last week the U.N. moved hundreds of troops into isolated northern and central Katanga to quell the rioters. At first Tshombe agreed, but when he saw that full-scale occupation by the U.N. might wipe out his own control of the area, he too lashed out at the U.N. Object of his ire was Ian Berendsen, U.N. chief in Katanga. "He is totally...
...sunny afternoon in Manhattan's Central Park, Denmark's visiting King Frederik IX and Queen Ingrid appeared with Danish-born Pianist-Funnyman Victor Borge beside a statue of Denmark's greatest teller of fairy tales, Hans Christian Andersen. Borge, wearing half-spectacles "for very short stories.'' read two Andersen tales to some 100 bemused tots. The children could not quite feign indifference to a real King and Queen, and at one point a local lad asked chainsmoking Frederik pointblank: "King, where is your crown? I thought all Kings wore crowns." Affable Frederik explained that...
Rumors & Recommendations. European Central banks, usually the biggest gold buyers, did little of the buying this time; the prices were too high. Beginning with private buyers and investors who wanted to convert their paper currencies to gold, the market soon surrendered to speculators who saw the chance of making a fast killing. Much of the buying was triggered by Swiss bankers, who have been recommending a switch from dollars and other paper currencies to gold. The Swiss angrily denied that they were responsible for the gold rush, said the buying was chiefly for their foreign clients. A large block...
...Crutches. Europe's Central banks could have prevented the sharp gold rise by selling enough gold to fatten the thin market, since transactions in London amounted to only $25 million daily. But that would have meant purchasing gold from the U.S. Treasury to cover the sales, and thus worsening the U.S. gold outflow -a step the U.S. did not encourage. Some Swiss bankers criticized the U.S. Treasury for lacking the courage to stop the price rise, felt that Treasury could have saved the situation quickly by the dramatic gesture of sending U.S.-held gold to Europe to loosen...
...course was to announce firmly that there would be no change in the U.S. price for gold. The announcement had the desired effect: at week's end gold prices fell back-to $37.22 in London-and steadied. But since gold prices still stood at a level at which Central banks could buy from the U.S. and sell elsewhere at a profit, most bankers expected that the storm had not yet blown over...