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Show Lj WESTS?! ALiERICA'w FLUORIDE DRINKING WATER CAUSES 35,000 CANCER DEATHS EVERY YEAR PAGE 5 'kick'kiKictck'k'k'kiKiK'tK'k'kiciKiK'kiKiKicic'kicirk'k'kiKlK'kiK'kiKiciKic'k'kiK'kictciK The Independent Dedicated To The Constitution, Liberty, Morality, and A 7' .Vol.8,24 " Truth 70 June 16, 1977 25C Salt Lake City, Utah 84115 ROOTS OF MONEY WASHINGTON OBSERVER Newsletter 228 6177 Torrance,. CA 90505 Gold is the money of the future, as it has been of the past, for better or for worse. The subject of gold is inexhaustible so let us contemplate just one small aspect of it: South African gold stocks. Are they good investment or is even the question itself unworthy of an answer? Everyone knows today that the worst possible investment is in South African gold stocks. For that reason they are uniformly low in price, as befits an industry which is facing bankruptcy or even worse catastrophes. The reason why South African golds are low has to do with two factors: The first is, of course, the low price of gold as compared to 1974 when the price ftbe IHeralb of jfreebom hit SI 97 .50 per ounce. Since then, the gold price has gone down to SI 03.50, and although it has risen again to a recent high of $ 1 52.30, it will have to go considerably above SI 50 and stay there for some time before convincing investors in general that gold stocks are a good investment. The second reason for the drastic slump in South African golds is purely political in nature and shows the power of the press, The international press dictature has ordained that the white man in southern Africa must relinquish his position of control, meaning that first Rhodesia, then South Africa is to be turned over to the Negroes, or rather the multinationalists who are manipulating this scenario, This, reasons the conventional wis- dom, means that South Africa is doomed, and with it the profitable mines. Hence, all financial advisors we know of have been tha of gold itself. Gold could go up 50 in price within the unanimously telling their cjients to next twelve months; should that get out of South African golds before it is too late, happen. South African gold stocks The practical effect of this has could rise on the average about seen all gold stocks plummet, some 400- of them to one-ten- th of their THh PRICE OF GOLD In the last two issues of WO previous prices, Clearly, a panic atmosphere we pointed out that inflation is a has been created as regards South political product, exactly as predic- African golds. Panics are often table as the conclusion that the wonderful buying opportunities politicians will continue to ap- for those who keep a level head. and spend money that Could the present be one of those they do not have, and that this will become more irres- historic moments that come so inas time goes by. Thus, in frequently? Let us Examine the W'O real situation closely, for it is the 227, we said: No one can say what the opinion of WASHINGTON ultimate OBSERVER NEWSLETTER price of gold will become that South African gold stocks at in terms of the Federal Reserve The figure of $2000 per their present price levels are depressed and represent a ounce has been predicted, and that significant buying opportunity is not unreasonable. But one may well say $10,000, for that figure with the price appreciation poten-gol- d tial of these stocks far greater than is exactly as sensible. The price of 57 Oakland Avenue Salt Lake City, Utah 84115 Second Claes Postage 8dt Paid at Ufa Cltv, Utch sup-easi- ly tem-propri- atc As-proc- com-ponsib- le 1 Continued on pip 10 Sol Linowitz Myron Negotiator FRANK A CAPEL Many Americans believed that President Jimmy Carter would fulfill his campaign promises to bring new faces into his Administration and so his appointment of Sol Linowitz as negotiator in the Panama Canal treaty came as a surprise to many informed Americans. Linowitz is not a new face and his leftist and philosophy and background have been well established through the years. Sol M. Linowitz was born in Trenton, New Jersey, December 7, 1913 the son of Joseph Linowitz and the former Rose Oglenskye. He was educated at Hamilton College (AB 1935) and Cornell University (JD 1938). He was .admitted to the New York Bar in 1938 and on September 3, 1939 he married Evelyn Zimmerman. According to his biography, he was employed as assistant general counsel of the Office of Price Administration from 1942 to 1944 and then became a partner in the law firm of Sutherland, Linowitz and Williams (1946 to 1958). He then became a partner in the firm of Harris. Beach, Keating, Wilcox and Linowitz of Rochester, New' York from 1958 to 1966. He joined the Xerox Corp. as Chairman of the Board, Chairman of the Executive Committee and General Counsel from 1958 to 1966. Beginning in 1966, he became Chairman of the Board and Chief Executive Officer of Xerox International. In the same year he was appointed Ambassador to the Organization of American States, a post he held until 1969 when he became a senior partner in the international law firm of Coudert Bros, in Washington, D.C. Linowitzs background includes: a directorship one-wor- ld UTAH INDEPENDENT any thing is always the result of ply and demand, and men cannot manufacture gold as they can paper money and bank credit ask the alchemists. Hence, the first reason for the general slump in the price of gold stocks the dip in the price of gold itself is obviously temporary, The price of gold can be expected to rise over the long term, although it will certainly take many porary dips as it seeks its level with the buying power of the dollar. Suming there were no other plications, this fact alone makes gold stocks unusually attractive. In the case of the South African gold stocks, of course, there are indeed other com-Not- e. plications which could make them a very risky if not a foolhardy investment if the views of the pes-a- s simists arc correct, of Time, Inc., Pan American World Airways, Inc., and Marine Midland Banks, Inc.; a trusteeship of the Mutual Life Insurance Company .of New York; and active membership in the Rockefeller organization called the National Commission on Critical Choices for Americans. Another of his appointments was as Chairman of the. State . Department Advisory Committee on Inter-national Organizations (1963 to 1966). This particular committee (and its membership) was the subject of considerable interest to the Senate Internal Security Subcommittee in its lengthy investigation of State Department Security - The Otepka Case. One of the alleged improper acts which the State Department tried to pin on Otepka appears on page 426 of the hearings: In your sworn statement, referred to above and enclosed as Exhibit A. you stated on pages 7 a nd 8 that you gave a copy of a classified memorandum entitled Francis O. Wilcox, Arthur Larson. Lawrence Finkelstein, Marshall D. Shulman, Andrew Cordier, Ernest Gross, Harding Bancroft, Sol Linowitz,' to Mr. J.G. Sourwin, Chief Counsel, United States Senate Subcomraittee to Investigate the Administration of the Internal Security Act and Other Internal Security Laws, of the Committee on the Judiciary. This memorau-duconcerns the loyalty of employees or prospective employees' of the Department within the meaning of the Presidential Directive of March 13, 1948 Members of this advisory committee reportedly m Continued on page 6 |