European Stars and Stripes (Newspaper) - November 10, 1985, Darmstadt, Hesse                                Sunday november 10, 1985 the stars and stripes Page 19 business news banker says Buck could take a big fall new York not the Dollar after retreating since september when the five major Industrial Powers decided to Force it lower has More or less levelled off. The Calm is not caused t y government policy makers analysts say but by a Combina Tion of Market forces. The View from Europe is that this Appfel ent Calm could Well prove fragile with the Dollar falling abruptly according to Daniela. Schwitter senior vice president in charge of worldwide foreign Exchange pre Cious metals and Money Market operations of the Zurich based Union Bank of Switz Erland. The Bank is the largest in Switzer land and an influential Force in the currency Market. He warned while on a new York visit that the volatility in the foreign Exchange Market if anything has probably in creased. He also believes that the Market is probably going to have to get used to a new Dement of instability regular Central Bank intervention. A will the strategy of the Industrial rations succeed in Retting he Dollar Down and keeping ii Here a. On balance the . Economy is not As Strong As it was. It is not perceived to bedding that Well. That by itself will weaken the Dollar. For that reason i give the intervention More credibility. It is really just bridging the Gap to the worse news on the Economy which will push the Dollar Down by itself. But it is a very dangerous  play with fire when you try to move such a massive Market and then think it investor s guide  frequently fell people with a in federally insured accounts at will go where you want. Q. What is your expectation then is the Dollar going to break out of its current Range a. My feeling is that the chances arc very Good that it will break out on the Down Side. And then it could fall a great Deal further. The real concern is if you have All the foreign investors in your trea sury securities buying less or Selling off some of their holdings it could be danger pus for the Dollar. The fact that the Dollar is stable now Means nothing. It looks Sta ble because of insecurity in the Market about the possibility of the Central Bank coming in. Q. Are you already seeing signs that europeans Are Selling their holdings of Treasury securities a. It s not just the level of the Dollar that they Are watching. It s More the expectation about inflation that will influence them. There is a much less restrictive monetary policy in the United slates now. If that leads to an increase in inflation then europeans will have second thoughts about holding Dollar securities. Q. The falling Dollar seems to be Gener ally regarded As a Good thing in the United states because it will help industries Hurt by cheap imports. Is the opposite Side to this enthusiasm worry in Europe a. In the Long run the Strong Dollar does seem to have helped the competitive Ness of some United states industries by forcing them to become More efficient. I did not help the competitiveness of euro Banks strings and loan associations a a credit unions not to be concerned because each depositor is covered up to $100,000. I hate been to some financial seminars at which financial planners said there would not be sufficient government funds to pay off the insured deposits if All the Banks failed. Is this True a. Yes. But that does t mean there seven a Remote danger that Federal Deposit insurance will Ever be anything less than Rock solid secure. Any and All Money you have in a federally insured Bank so orc is absolutely Safe up to the limit of insurance  s True that none of the three Federal Deposit insurance agencies has enough Money to pay off in the More than unlikely event All the Banks. A is and Cus robust. According to recent figures for each$100 of insured deposits the Federal de posit insurance corp. Had about 94 cent reserves the Federal savings & loan in Lurance corp. About 77 cents the nation Al credit Union share insurance fund about $1.24.nonetheless, the resources of those agencies Are in effect limitless because they Are backed by the Federal govern ment. In March 1982, Congress approved Resolution declaring that the full Faith and credit of the United states govern ment stands behind All three Federal de posit insurance , that Resolution is not a Law. However it is a Strong moral commit ment. The . Government will no allow those agencies to fail to carry out their function of protecting depositors. Over the last couple of years we have seen More Bank failures than at any Lime since the depression. But the fed eral Deposit insurance agencies have been equal to the task and have seen tit that no insured depositors lost any Money.  Bank official informed me that Bank accounts covered by the Odic Are paid off much quicker than so deposits covered by the folic. Is this Correct can industries. The Fiuero plans have prospered a great Deal from the Strong Dollar because of the help it gave to our exports. But there arc a lot of industries in Europe that should have died a Long time ago. They Are still around with the help that the Strong Dollar has Given them. So there could be some pain to come in Europe and that docs worry the politicians. Q. Does the new strategy suggest that we Are entering a new Era of managed Exchange rates in Era such As the Brelton Woods period that began after world War ii and ended in the Early 1970s? a. There is no doubt that the Structure of the Market has changed so much in the last 10 years that it is not realistic to think that you can go Back to Britlon Woods. The new policy was really a political Deci Sion made because of protectionist pres sures in the United slates. In Europe we had been calling for intervention before that and the Reagan administration would t do it. Now the europeans were really forced into this action. It did get everyone on the same track but 1 Don t think that can last. You know people have a tendency to want to gel re elected and you have major elections coming up in several european countries next year. They will not want the Dollar to fall too far. So i Don t think that Politi Cally everyone can stay in line for too Long. There is no doubt though that the Central Banks have become More Active. Q. What is your own inclination Are you a free trader or do you believe Central Banks ought to intervene a. I guess i m probably like a lot of Swiss i believe in a free Market really but with some kind of intervention necessary at limes. I Don t like it but it s realistic. What 1 believe in is a combination of the two. But there s no doubt that it has been proven that intervention May work for some temporary help but it hurts More than it helps in the Long term. You have to have the right fundamental economic poli cies in place too. Q. Since you oversee precious metals trading too what do you expect the Gold Market will be doing a. Gold has a better Chance new than in recent years because the United states monetary policy is less restrictive. But i Don t expect any big change unless suddenly you have an incredible level of inflation again. The real reasons that Gold Rose to the $800 level have died off. For Gold to really come Back you need a lot of private investors and they just Aren t attracted. Dressing for your career requires care study says a. Not at All. Folic has been just a Quick to pay off deposits at failed a is a Odic has been to pay off deposits a failed Banks. More often than not there is no  the typically federally insureds a or Bank failure the failed institution is merged into another so or Bank and opens for business the very next Day. Customers Deposit or withdraw Money As if nothing  Bank and so officials con stantly snipe at their competitors by spreading tales such As you heard. Ask that Bank officer to cite even one Case Toback up his scare Story. Q. I am aware that Federal Deposit insurance coven each depositor up to $100,000 and hat a family can increase that coverage by hating deposits in the husband s name the wife s name and in joint names. Each is counted As a separate Deposit for a total of $300,000 Lih Virance coverage. Also the husband can have a rust account for the wife and the wife a Trust account for the husband each insured for another $100,000. With children grandchildren and other relates each Indra dual and joint account can add $100,000 to a family s Deposit  about testamentary re ocame Trust accounts can they be used to add $100,000 of insurance for each family member a. To some extent yes. The rules say that a Octta Centary revocable Trust account n insured for the owner or owners to$100,000 per beneficiary Only if the beneficiary is the owner s spouse child or grandchild. So if you already have $100,000 of de posit insurance you can t add to that coverage at the same institution by opening an account in Trust for a Niece Nephew aunt Uncle or even your Mother or a  with that restriction a family can keep a mighty big bundle at the Sam Bank so or cd All covered by Feder Al Deposit insurance. Kino of Tahurai column ill boy it comat will pm of tent bul to  proven Anion Only Prounh a iks you can. 10 my in cart of the Star. And Sampai. Apo of Vii. . Forcari new York up dress codes Are not evolving rapidly in the business world and trying to Rush things could be counterproductive in a career if a new study reflects reality in the workplace. Richard comb Ray a writer who keeps close tabs on the fashion world acted As consultant to a Survey of 316 personnel consultants and executive recruiters entitled new rules for business  strangest among his findings is the fact that the people who hire people arc that much interested in clothes he told up. It was an interesting sociological phenomenon he said in an interview and one could say there is virtually a National obsession with  the study found however the Way to dress to get a Job and to Advance to a better one once you be got it is to dress pretty much As everyone else in the place dresses. Standing out May be fun but you la pay for it dearly. The advice goes for both sexes. So Rule no. I might be stated during Job interviews above All else make sure your appearance connotes neatness serious Ness Ana efficiency. And Rule no. 2 once you be got the Job you can take certain liberties give rein to a certain individualism. Bat there arc limits. Don t stray too far from the Norm if you Don t want to be pushed out or passed Over for a promotion. Findings of the Survey directed by Michael Solomon of new York University s school of business administration Are Given in percentage terms by occupational groups and by Region. But do the personnel department Heads and the head Hunters really accept or reject a Job candidate solely or even mainly because of his or her clothes comb Ray does t think so. These people arc Only human he said. They might let other factors apart from a candidate s professional qualifications Sway their decision looks prejudice or something they would t readily own up to and sometimes can t even put their Finger  asked about areas of Good taste com Bray chided what is that weird word taste what May pass for taste in new England does t necessarily go in the Rock ies he said and examples could be Multi plied infinitely. 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