Economics: As Good as Gold

The most important gathering of the world's moneymen is the annual meeting of the directors of the World Bank and the International Monetary Fund. Lately the U.S. has found it necessary at these meetings to promise to keep the dollar as good as gold.

Last week, as the governors of the 104-member nations of the Bank and Fund met in Washington, the U.S. found it easier to keep quiet and let others do the talking. "Personally, I don't see how any currency can be considered better than the dollar," said the Fund's managing director Pierre-Paul Schweitzer. "We see no unloading...

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