Thursday, January 17, 1980
3
University Daily Kansan
Dollar remains strong; unaffected by gold fever
WASHINGTON (AP)—The United States will not be hurt by scary gold prices, official and unofficial sources said yesterday, while the dollar is cashing in on the spectacular price surge.
The greatest danger to Americans would occur if the rising price of gold pushed down the dollar's value, leading to inflation. Although this happened in 1978 and part of 1979, the dollar hasn't budget at all.
"I don't see any evidence of a flight from the dollar. The dollar has been incredibly stable," Robert Solomon, a Brokings Investments analyst in monetary issues, said yesterday.
THE PRICE of gold has more than doubled since the last Treasury Department gold auction on Nov. 1, when gold sold for $72 an ounce.
A week ago, gold was worth $608 in New York. The price was $249.25 at $249.25. A year ago, the price was $191.00 in London. It closed at $752.50 yesterday an increase of $60.00 from
Solomon said in an interview yesterday that gold prices are rising primarily because of political and military developments in the Middle East.
"There's enormous uncertainty as to what's going on in the Middle East," he said.
The opinion is widely held that many of the gold orders originate from the oil-rich nations of the Middle East, such as Kuwait, Saudi Arabia and Iran.
Because gold is transportable, people who are uncertain about the future may be converting their other assets into gold so they can afford them with them if they have to flee. Solomon said.
AND EVEN IPF persons from those nations have been charged with taking heir to a quick profit on its amazing price increase "rushing in and buying gold in anticipation of an increase in价," said Clemens.
"We've had to cut our hours and it looks like it's going to continue for some time," Fainich said. "When you close your door on us, you can bet they'll be back the next day."
In the United States, several coin shops were forced to close and others to arm their employees with handguards as customers were forced to cash in on their gold and silver possessions.
"We've got 'ern lined up outside around the block," said Barry Faintich, owner of Midwest Money Co. St. Louis.
Peter Glovinsky, owner of World Coin &
Stamp Exchange, St. Louis, agreed the gold rush was on.
dollars are worth $21. Who knows about tomorrow?"
Thurs. 1/17:
Bluegrass Extravaganza
BERLINE, HICKMAN, & CRARY
THE BOTTOM OF THE BARREL BAND
featuring Gary King
Jersey Justice, Joe Scroggs, & Bob Tripp
Uncle Sam also was interested in the voluminous sales. Internal Revenue Service agents were keeping a watchful eye on large transactions.
letup in the number of women with silver services and flatware to sell, coin collectors with bags of silver dollars and others bringing in pieces of jewelry gold crowns.
"We're paying $10 for pre-'64 halves, $5 for quarters and $2 for dimes. Today, silver."
"We're letting two or three in at a time. I
Fri. 1/18:
SWIFT KICK
Faintich said his store had hired extra security guards to control the crowds, an employees were carrying handguns because of the large amounts of money on hand.
open late
think we're the only outfit still operating here—the others are having money flow problems trying to keep up with the suppl coming in."
Faintich said there appeared to be n
We will be open from 9 a.m. to 8 p.m.
Jan. 17, 18, & 21
(Thurs., Fri., & Mon.)
Reg. hours 9-5:30, M-S
Country Rock. Rock & Roll. Reeger
Family with South of the Trucks
Washoe Valley.
One of Kansas' artisans
and finest musical groups
$2.50
Dir. Francis Truffaut, with Jean Pierre Pierre, Leaudac Jouisset, Bissel Basset, and Erik Feldmann within-a-lim explores the problems of making a movie with a high budget. Fraser, France, Franciebuck, Plus: "Italian American," a short film by Martin Gomez.
MONDAY, January 21 THE WOMEN
Dr. George Cukor, with Rosalind Russell, Jawen Crawford, Paulatte Pincay, Lydia Duggan, and Fiona Fontaine. All an-star, all-fall cast. Based on the play by Clive Bonthe
Sunday, January 20
Truftau:
DAY FOR NIGHT
Sat. 1/19:
Unless otherwise noted; all films will be shown at Woodward Auditorium in late afternoon and start at 7:30; weekend films are $1.50 and start at 3:30; 7:50 & 9:30; 10:30; 12:30 & 1:30; 2:00 on Sunday. Tickets available at www.woodward.edu/entertainment. All awards allowed.
Lawrence's newest & finest salsa, funky rock,
and reggae dancing music.
9:00 p.m. $2.00
films sua
Director, Ralph Baskin's famous animal imprint, KAWAII, proves that cartoons truly have mained by the maker of WIZZARD and LORD OF THE RINGS. PLEASE AND LORD OF THE RINGS. PLEASE AND LORD OF THE RINGS. PLEASE AND LORD OF THE RINGS.
Thursday, January 17 STAIRWAY TO HEAVEN (1942)
Midnight Movies
FRITZ THE CAT
(1972)
Dir. Michael Powell & Emeric Pressbur, with David Niven, Kip Hunter & Raymond Massey in this film, which has been matched by an over-eyer angel. Plus: "The Balloonatic," a Buster Alesen silent movie.
Dir. Phill Kauffman, with Donald Sutherland, Brooke Adams, Leonard Nimoy, Goldibum, Veronica Carton and James Patterson. A chilling remake of the 1958 original; pods from outer space threaten the world. Plot: The Cinema of Ray
Friday & Saturday,
January 18-19
INVASION OF THE BODY
SNATCHERS
Back To School
TEXAS INSTRUMENTS CALCULATOR SALE
TI 55
TI 55
Reg. $40.00
SALE $33.99
Check these sale prices . . .
reg.
1750 25.00
58C 130.00
59 300.00
MBA 70.00
SALE
22.00
109.99
267.99
62.99
Sale or
reg. SALE
PC 100C 200.00 178.00
BA II 45.00 40.00
TI-35 25.00 22.00
TI-50 40.00 36.00
Sale ends February 2, 1980
KANSAS UNION BOOKSTORES
Two locations to serve you
Level 2, Main Union Satellite Shop,Satellite Union
We are the **only** Bookstore to share its profits with KU students.
--call 843-2644 for reservations Admission only $1.00
LIVE!
JAZZ SPECIAL Tonight at
Paul Gray's Jazz Place 926 Mass. Upstairs
Gaslight Gang Jazz BAND Don't Miss It Tonight!!
Coming Saturday: Claude "Fiddler" Williams
Back to School Special . . Free T-shirts . . Records . . Frisbees