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...negotiated realignment among major powers will increase the worth of Japanese yen by 17% in terms of the "old" dollar; in all, the West German mark will go up 13.5% against the dollar, and the Dutch guilder and the Belgian franc will rise 11.5%. The French franc and British pound will be formally unchanged; but, with the dollar's devaluation, they will go up 8.6% relative to U.S. money. Italy and Sweden will devalue their currencies slightly, by 1% each, but still end up 7.6% higher than the dollar. In return, Treasury Secretary John Connally said that...

Author: /time Magazine | Title: The Economy: The Quiet Triumph of Devaluation | 12/27/1971 | See Source »

...tent is emblematic of the vanity of human wishes-in art, in politics, in science, in business, in love, in life. As it flaps to the stage floor at the end of the play like a great wounded sea bird, one can almost hear the spectral voice of Ezra Pound: "Pull down thy vanity, I say pull down...

Author: /time Magazine | Title: The Theater: Laureate of Loss | 12/27/1971 | See Source »

...economic problem since President Nixon on Aug. 15 declared that the U.S. would no longer redeem foreign-held dollars with gold. In the frenetic currency trading that followed, the mark has floated up 12.2% in value against the dollar from its last official rate, the yen 11.6%, the British pound 4.1%. The U.S. seeks to push some foreign-currency values up even more, and make the new rates official; it originally aimed for foreign revaluations averaging 12% to 15%. The Europeans and Japanese have demanded that the U.S. formally devalue the dollar as part of any deal. Although there...

Author: /time Magazine | Title: The Economy: The Forthcoming Devaluation of the Dollar | 12/13/1971 | See Source »

...Griese, the dimpled blond star of the team. Accustomed to the easygoing ways of former Coach George Wilson, the players were dumbfounded when Shula announced that there would be four practice sessions a day, beginning before breakfast and lasting until nightfall. Overweight players were fined $10 for every pound in excess of what Shula determined was their "optimum performance level." When 250-lb. Running Back Larry Csonka was ordered to trim off 15 Ibs., he sputtered, "But I haven't been that light since high school." Replied Shula: "You will function better at that level." Csonka pared down...

Author: /time Magazine | Title: Sport: Super Bowl Bound | 12/13/1971 | See Source »

...Crimson expects to have an advantage in the field events. Sophomore Leon Sharpe should win both the triple jump and the high jump, but Harvard has no depth behind him. Second Joe Naughton is the favorite for the shot put and sophomore Jay Hughes, the lone 35-pound weight entrant, should give him support...

Author: NO WRITER ATTRIBUTED | Title: Army Track Meets Harvard Today | 12/11/1971 | See Source »

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