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Ever since the oil embargo of 1973, Western economies have had to live with the fear that precious crude from the Middle East would once again be cut off. Last week, as the war between Iran and Iraq threatened to make that bad dream a reality, financial centers from New York to Tokyo immediately trembled. But the markets then responded with surprising strength and absence of panic. Said one Manhattan stockbroker at midweek: "The market seems to be taking this as if nothing were happening. It seemed that the latest Middle East war was one the Western oil-consuming world...

Author: /time Magazine | Title: Business: War Sets Off Market Nerves | 10/6/1980 | See Source »

...invasion of Afghanistan. Gold shares on the Johannesburg stock exchange in South Africa, where most of the Western world's gold is mined, were heavily traded. Reported one broker: "The Americans are grabbing everything they can get." Frightened Arab bullionaires are now asking for physical possession of their precious metal rather than leaving it in Swiss or other bank vaults. Reason: after the American seizure of Iranian financial assets in June, wealthy Arabs became leery about leaving their property in any Western banks. Since August, more than 150 tons of gold have been repatriated from European banks to Kuwait...

Author: /time Magazine | Title: Business: War Sets Off Market Nerves | 10/6/1980 | See Source »

...exercise, appropriately enough, involves a breakthrough by "Soviet" forces. Early Sunday the influence of legendary Tanker George Patton is obvious. Major General Joseph A. Healey, 50 (general manager, public services, New York Telephone Co.), trim and tough in freshly pressed greens, tells unit commanders, "These few days are precious. Begin to get angry about your mission of killing 'Russians...

Author: /time Magazine | Title: In New York: Summer Soldiers vs. Soviets | 9/29/1980 | See Source »

...Abigail Asnani), a 23-year-old Jewish courtesan who-after the characteristic Follett sexual intermezzos-rises quickly to become the star of the Wolff hunt. One of Vandam's problems is his toffee-nosed superior, Lieut. Colonel Reggie Bogge, who spends most of his time polishing a precious cricket ball and refusing to accept his subordinate's theory of the spy's existence. Vandam's pursuit is also thwarted by the Egyptian nationalist movement, which would prefer a German occupation to continued British rule. A leader of the movement is a young army officer named Anwar...

Author: /time Magazine | Title: Books: Nile Wiles | 9/29/1980 | See Source »

McKibben falsely labels the Revolutionary Communist Party (RCP) as "revolutionary socialists." In fact the RCP has had precious little to do with the fight against fascism and even objectively supported the Louise Day Hicks campaign in its efforts to "unite against Boston busing." Real communists like the Spartacist League/Spartacus Youth League offer the only alternative to imperialist decay and fascism. So when the KKK wanted to "celebrate" the Greensboro massacre in the labor/Black town of Detroit it was the SL and 500 predominantly Black workers who demonstrated and stopped the Klan. And when the Nazis threatened to celebrate Hitler...

Author: NO WRITER ATTRIBUTED | Title: Get the Klan | 9/27/1980 | See Source »

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