European Stars and Stripes (Newspaper) - February 26, 1985, Darmstadt, Hesse                                Inside stripes 22 data in French mint Blatt Page 28 the  ripes vol. 43, no. 313 tuesday february 28, 1985 itt , of d 8693 a a buys 3.42 Marks today a the Dollar leaped on european foreign change markets monday gaining 6 pfennig against the West German Mark and kiting a siring if other rep adj As Central Banks apparently refused to inter Vene against the Dollar s surge. Gold prices tumbled sharply from the Levels close ?2s ? it Hai Prev i cd for Welu to Aro s283-s284 in the bigger european exchanges some thought the $300 Price was due to the underly ing strength of Gold but what happened monday we be teen that underlying strength evaporate said trader Ala Barker of London Bullion dealer Sharps Pixley. It was the Isth record setting Day for the Dollar out of17 business Days this month a performance that caused an astonished Frankfurt trader to exclaim every morning in we come in the previous Day s doting Price looks cheap. In London Anthony g. Chappell. Director of worldwide foreign Exchange trading for Irving Trust co., agreed with Many traders who said president Reagan had Given the Dollar the Green Light with his comments last thursday that Washington did not want to intervene against the Dollar. That eventually spelled out the suspicion of us All tha Central Bank intervention does t work Chappell said. I believe the Central Banks decided to let the markets unfree for a while. They Haven t got the resources to effectively intervene in the Market and they May thin that it i Best to let the Dollar find its own Market  Chappell said Central Banks would have to spend Bil Lions of dollars to Stem the Dollar s Rise. West German monetary officials while declining on the record Corn menu said european Central Bank interventions would gain Little without support from similar .  said the markets were nervous hectic and Vola tile but they could give no other reason for the Dollar sense than Reagan s comments and the Lack of evident Cen trial Bank intervention. High . Interest rates which have often boosted the Dollar As an attractive investment to foreigners were not a Factor in monday s Advance traders said. The Dollar made Strong gains of 1.7 cents against the British Pound 19 centimes against the French franc and 42 lire against the italian currency All three All Tim records. It set 13-year highs against the West German Mark and the dutch Guilder and a 10-year High against the Swiss franc. In Tokyo the Dollar gained against the japanese yen closing at 263.05 yen compared with 262.35 yen Friday. The Pound closed in London at an All time Low of other Dollar rates 3.45is West German Marks 2.9095swiss francs. 10.5450 French francs 3.9120 dutch Guild ers and 2,153.50 italian lire. Conversion rates London up monday s closing rain for the . Dollar o other eur Raclyn. Figures Are expressed in dollars to the British Pound and other local currencies to dollars. To prot m my Contd Iii Wei in tuna to Var ii to los. Vat Lyl Pound. Pond Itric dim a str _ .isjsrs_u1m  so Maxim  iju4 x4s1s iu4murn an its surn 44j.is isms slut Uhi these Are commercial rates and can be related Only to the us of foreign currency by is. Forces for official business. Sales of Marks to . Personnel for their Peim Nal use will be at he Rale of 3.42 tuesday based on a midday Price fixing and allowance for Standard handling charge. Economists predict recession next year. Washington a the nation s Economy i Likely to suffer a recession beginning sometime next year and brought on by soaring Federal budget deficits High Teren rates and further deterioration in foreign Trade Conof lists for major corporations predicted monday. The National association of business economists said Survey of its members found Basic agreement that the Economy will move ahead at a moderately Good clip this year with inflation remaining under control. Hot the economists predicted that things will turn Sou next year. A majority 52 percent expect the next recession will begin in 1986, with Only 17 percent of those surveyed predicting that the current growth will last into 1987 or beyond. These expectations were a Good Deal More pessimistic than the Reagan administration which in its forecasts has predicted steady growth through 1990. Huge Federal budget deficits Are cited most often by the economists a the main reason they believe the current recovery will be Shorter than the average of 46 months. Other problems the economists believed would Short circuit the recovery were High interest rates and the coun try s record Trade deficits. It is Clear that the Basic problem is the budget  is the thing we have to change in order to improve the Outlook for interest Rales and the Trade deficit Saiben Laden president of the association and chief economist at the investment firm of t. Rowe Price associates. To fight the deficit 63 percent of those polled support see recession on Page 28 nil tur sour othe s believe t Para t races circuit recover t an the Counse re soviet to papers fake care of make of Bernenko seem tit Moscow up photographs of president Konstantin soviet Leader standing i Roble n soviet le4 a a right be. Chernenko appeared in every major soviet newspaper monday with the Man who was holding him up apparently removed from the  television had purported to show Chernenko voting in sunday s regional elections ending a two month absence fro Public View mat had spawned speculation that he was seriously ill. However the to appearance was carefully controlled and a examination of the film in slow motion showed the hand of an aide holding the 73-year-old Leader up through most of the Brief photo session. Another Man stood on the other Side. At one Point Flowers which were handed to Chernenko were then passed on to one of the aides creating an awkward moment As the Man tried to hold them in one hand without taking his other from beneath the soviet Leader s Arm. Although the to report implied that he voted at a regular polling station the room shown was very Small perhaps seven Yards Square and could have been in a Hospital or special  was no indication of when the pictures were taken. The television footage which was shown sunday afternoon in rare interruption of regular broadcasting was followed by front Page newspaper photo monday of Chernenko dropping a ballot into the Box. Although the television pictures showed an aide standing closet Chernenko a be voted the newspaper pictures showed the Sovie g  the still photographs and the television pictures had been taken at different limes or the aide had been removed from the photograph by the newspapers Art departments. Soviet newspapers routinely doctor photo to improve the appearance of the nation s leaders. The pictures of Chernenko appeared to be a More elaborate version of the policy of keeping his name in the Media. That policy has been followed during both of his absences from official Busi Ness during his single year in Power. His name has been mentioned in reports on meetings of the ruling politburo and attached to Leiden even though soviet officials have admitted that he is sick. They have never explained his  appearance was apparently intended to squelch rumours thai Chernenko is incapacitated. A weak Khorosh Fine was one of the few words he uttered indicating that he has not completely lost his ability to speak. But his weak state was readily apparent to even a casual television watcher and1 did Little to Alfay doubts about his health. Soviet citizens used to the manipulative techniques of the Media were sceptical. A comparison of television pictures shown a year ago when Chernenko also voted showed that he was then much heavier and although a Man Auis cd him up the stairs he was Able to Wal without assist vat into the polling station