GOLD: Flight from the Dollar

As the Queen Elizabeth was loading in Manhattan last week, U.S. Customs officers were notified that an automobile about to be put aboard had a curious sag in the rear. Peering beneath, they found 340 lbs. of gold, worth $150,000, strapped under the fenders. They arrested the owner on charges of trying to smuggle the gold out of the U.S.

All over the world, gold smuggling has become a big business. In Hong Kong last week, British authorities seized $24,500 worth of smuggled gold on a plane from Manila. At London's airport three weeks ago, inspectors found an 18-year-old Indian...

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