Word: pound
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...move set off a stampede of speculation that within hours forced currency markets in Europe and Japan to slam shut their exchange windows; they were not scheduled to open again until Tuesday of this week. The dollar, which most money traders consider to be the weakest currency after the pound because of the gigantic U.S. balance of payments deficit, quickly came under attack. The West German Bundesbank had to buy almost $900 million in 90 frenzied minutes Friday morning before officials finally halted trading. In Switzerland, monetary authorities decided not to buy dollars to hold up the price, letting...
...case, it will take time to restore confidence in the system of exchange rates established by the Smithsonian agreement. For months, serious private discussion in Europe has focused on the pound as the weakest link in the system. There have been widespread predictions that the pound would have to be devalued by the time Britain joined the Common Market on Jan. 1. Such talk spread gasoline on the floor of world currency markets, and Labor's Healey tossed a lighted match on it with his devaluation forecast...
European bankers predict that the pound will float down to somewhere between $2.40 and $2.50, after which the British government will make official that de facto devaluation. Whether that will stabilize the world financial system a while longer remains to be seen. The most discouraging thing about the panic last week was that safety devices built up in the past six months collapsed promptly when put to the test...
Nestled in a corner of Cardell's Cafeteria opposite the Brattle Theatre, Buddy serves an awesome 1/4 pound Big Hamburger for $.95. Its chief distinction is that it is charcoal broiled rather than deep-fried in the remains of someone else's Hot Pastrami. The Big Cheeseburger ($1.05) is topped with a big scoop of soft cheddar cheese, a welcome and novel departure from the usual flimsy slice of American...
...Police, estimates that 150 bikes are stolen from Harvard students each year. A chain and lock are not foolproof deterrents. A bike chained to a parking meter or sign can be lifted over the top. Most chains can be clipped with a bolt-cutter and even if a ten-pound motorcycle chain securely attaches the front wheel to rack, theieves will often settle for the rear wheel and frame. One of the authors of this article had his Raleigh stolen while writing the piece, in fact...