European Stars And Stripes (Newspaper) - March 15, 1968, Darmstadt, Hesse Page 4 the stars and stripes Friday. March 15, Gold buying 0 of nerves by Joseph w. Gri Glondon up the great Gold buying onslaught against die East undoubtedly Are buy ing Gold now. So almost cer Are some of the Mideast out War of nerves Between speculators and the . Govern has Given repeated pledges to keep the Price of Gold at $35 an ounce As it has for the past 34 years. The West s leading Bankers meeting in Basel Switzerland last week and promised to Back that in International speculators Are betting against washing ton s ability to do so. If t h e United states yields to the cur rent pressure and hikes its Price for Gold or simply sus pends Gold sales altogether speculators who buy now Stan to make a fat profit. So the big question Markis whose nerves Are stronger and who can stand the Pace longest speculators Range from governments to Banks from Mideast sheiks to French peas ants vhf believe in keeping their savings in Gold in a Stock ing stuffed up a Chimney or under a mattress distrusting any paper currency. Seven governments Are firmly pledged to try to halt the speculators. They Are the members of the International Gold Pool the United states Britain West Germany Italy the Netherlands Belgium and Switzer pulled out of the Pool last year. Many smaller which currently keep their reserves mostly in dollars maybe tempted to Cash them in for Gold now. Algeria was nonesuch country Only recently. Merchant Bankers throughout Western Europe and the mid som finally there Are the Little men the French and other europeans who never have trusted paper currencies and what can the United state do to Stem the Rush financial experts Are divided cuw1 " White and Black discs the Sun lookalike a White Ball As it hangs in an overcast sky and seems to be touching some of the equip ment of a radar installation at the . Airstrip of Dong a South Vietnam. The area is not far below the Marine base at Khe Sanh. A Many British financial sports now believe the act most calculated to work be Quick congressional a of the ii per cent income surcharge demanded by i Dent Johnson. The economic of the respected Mondai financial times said thu would probably be the Sinek most powerful gesture of of another possibility suggested in Britain that All the spool member countries should pledge their total $25 billion of Gold holdings in defense of the Dollar. Whether they woulj1agree to do so is admitted to be another matter. The United states u rethought in Britain could Eta Tine Selling Gold right Donto the last ounce of its Reserve in defense of its present pot ides. But experts agree then is no guarantee these Reserve Snow less than $12 billion would suffice indefinitely. The simplest alternative British experts say would Sim ply be to hike the Gold Price or even to double it. But this would be tantamount to devaluation and politically difficult in an election year. It also Woald mean Victory for the spectators and a tremendous profit for the soviets Ami South m Picans world s leading Gold producers. Still another possibility it i suggested would be for Washington to halt Gold buying an Selling and let the Metal find its own Price on free markets but this would mean a chaotic upset in the world s monetary system. But British experts agree that until the United states acts the nerve War is going to get tougher and the stakes higher. Attack danger far by Mary nets a Femina editor bad Godesberg g e a Many is if the Dollar Falls so will the Mark and speaking on a panel sponsored by the american women s group of Bonn bad Godesberg at the embassy club wednes Day Jess Lukomski Bonn Cor respondent for the journal of Commerce warned that the Dollar is under attack a Dan Ger for the whole did t mince words either when it came to saying who rethought was leading the As French president Charles de Gaulle s actions buying . Gold setting up International monetary agreement roadblocks one has to assume he s primarily out to pull . the panel discussion Money everybody s problem put Lukomski at Odds with Ronald Del Cour of the French newspaper be Monde they proved to be farther apart than the opposite ends of the speaker s table exchanging Sharp verbal blow throughout the program. The panel comprised of journalists was moderated by Rob Ert a. Haeger of . New Sand world report and also included Gisela Bolte Bonn Cor respondent for time Magazine and Lionel Walsh Bonn Bureau chief for the Quick heated Exchange Between Lukomski an Delcour All but relegated the lat Ter two panellists to the Back ground. Leading off Lukomski noted the attack against the Dollar which is used in two thirds fall world Trade comes just when the British Pound is Mak ing somewhat of a comeback. We be been exposed to a enormous Drain of our Gold re serves with the result that conf resented by the american bal Ance of it s obvious we can t with stand this attack for a s trained period of time As Longas other governments Are not willing to cooperate said Lukomski. Taking the bait Delcour retorted that the Gold Rush reflects Lack of Confidence which is the result of America having too Many commitments Suchias the Vietnam the problem is an Ameri can problem not a French problem. There has to be inequitable solution but it s not possible with the big Gap rep resented by american balance of but it s de Gaulle who continually puts up barriers to devising a new International monetary s y s t e a Lukomski snapped , de Gaulle has some idea he can cause the . To abdicate its leading role. He can Gaulle has to learn there is much More at stake than the Dollar and . Prestige and that you can t have a 10thcentury monetary policy in the 20th Century As he seems to advocate he said. Money is not Gold Gold snot Money. Money is the productive potential of is accused of restrictive economic solutions in order to try and save dollars. That s a misconception. The . I looking for an expansive Solu Tion that will create More Delcour pleaded unfair thought this was going to be a real panel discussion he said not a polemic split with you launching an attack on France. We can t discuss things on this level Well make no Progress at All he said. Germany s in a Sticky position said miss Bolte. "in1966, Mcnamara bluntly talked Chancellor Ludwig Erhard in to a new offset agreement to pay for the Cost of . Troops stationed in Germany. Some blame this As one of the fac tors leading to Erhard s fall he undertook expenditures he had no cover for. Today the condition go Ern ment is walking a real tight rope. It has set out its financial plan for the next four years end there s no room for additional expenditures. Now America asks for $7mto $800 million for . Troops and the germans say they have not one Mark she Suil. As to Britain s position expressed optimism in steadying of the Pound sin devaluation and Hope that us country would eventually beloved into the european Mon Market. Antarctic yields old Alligator Bone Washington a the National science foundation announced tuesday discovery i Antarctica of a 200-Jnillion year old Jawbone fragment from an Alligator like creature uie first evidence that land vertebrates once roamed the fo.ssili/, Jawbone find said an Agency spokesman May literally put new Teeth in the Rasiul theory that ant a three other Southern hemisphere continents and in Dia once formed a super continent which drifted other three continents in the Gondwanaland theory Are Africa Australia arid South Bone fragment Only about 2 inches Long and Les than that in thickness was Dis covered last december in a ancient sediment filled Stream bed in the Central Trun Sakitaro tic mountains about 325 Miles from the South pole the announcement said. It was discovered by a geology team from Ohio state University s Institute of Polar stud ies led by geologist Peter j. Barrett working under a , just recently it was identified As a Bone from an extinct group of amphibians hit h orto never traced to Antarctica by or. Edwin ii. Colbert of the american museum of natural history. European edition col. Jamrs w. Campbell Usa it. Col f. 8. Michael jr., a of Mert Proctor Elmer a Frank Henry 8, Epstein production is we an unofficial new Piper of a c the 8ur and Stripe. To teach a Germany ,4.352. Be prefix 06165 80718 m prefix 76 741. Telex a i s77fl York of Tucei m1 with Leaton st., new York 10014, Teh area a i in adv Row 8cond com potato paid at now York . Tho appearance of Al " 1 menu in Titu newspaper conceal a commercial publication Don near eni at by the department of def a a or by � it Ceni Poi � ". The United states is in open society in which
