The Battalion. (College Station, Tex.) 1893-current, October 14, 1980, Image 8

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Page 8 THE BATTALION TUESDAY, OCTOBER 14, 1980 opest 11 AJU. ’TIE MIDNIGHT SERVING BURGERS ’IV BEER Economist distrusts dollar ithas S4«-9438 United Press International DALLAS — Jerome Smith is bul lish on many things, but the future of the American dollar is not one of them. His reaction to his gloomy predic tions — the result of facts distilled from over a decade as one of the world’s leading research economists — is a book entitled, “The Coming Currency Collapse — and what you can do about it” (250 pages, Books in Focus, $12.95). Part of Smith’s book suggests that U.S. citizens are ready to spend more time studying economics, and further to listen to the man (Smith) HEAR BOBBY TUCKER STUDENT BODY PRES. 76-77 ADDRESS COLLEGE REPUBLICANS and AGGIES FOR McNIEL TUBS., OCT. 14, 7:30 P.M. McNIEL for STATE SENATE HEADQUARTERS 813 B TEXAS AVE. (ON S. End of Pasta’S Parking Lot) No Host Dinner at 3-C Barbecue in Colleqe Station - 6:00 p.m. EVERYONE INVITED! Paid for by McNiel for Senate Comm., Pat Jones Treas., Rt. 5, Box 878, College Station, TX 77840 T HAPPY COTTAGE GIFT SHOPPE ^Specializing in Music Boxes ^Selected Imported Jewelry ^German, Austrian & Swiss Gifts ^Decorative Accessories 809 E. 29th Bryan 3 Blks. E. of City Nat'l Bank 822-9393 Jbr(WfMy..Jjrei/&yT/u/u/... MWADS joivuas ueuii^sajj AassautjjfruBijs uosijy E-Svstems continues >ys the tradition of the world’s great problem solvers. Steinmetz was one of the few geniuses concerned with the practical aspects of electrical engineering. His pragmatic analytical approach led to the de velopment of efficient electrical power grids as we know them today. Scientists and en gineers at E-Systems are carrying on in his tradition. Through the combination of sophisticated analytical and simulation techniques, they are evolving optimal system^ solutions to some of the world’s toughest problems in electronics. E-Systems is recog nized as one of the world’s leading problem-solving companies in the design and production of com munications, data, antenna, intelligence and recon naissance systems that are often the first-of-a-kind in the world, For a reprint of the Steinmetz illustration and information on career op portunities with E-Systems in Texas, Florida, Indiana, Utah or Virginia, write: Lloyd K. Lauderdale, V.P., Research and Engineering, E-Systems, Corporate Headquarters, P. O. Box 226030, Dallas, Texas 75266. E-SYSTEMS The problem solvers. An equal opportunity employer M/F, H, V Charles Proteus Steinmetz 1865-1923 OUR GARLAND DIVISION WILL BE INTERVIEWING ON CAMPUS OCTOBER 22 & 23 whose earlier book — “Silver Profits in the Seventies” — convinced the billionaire Hunt Brothers of Dallas to begin the series of investments which gave them control of more sil ver than the rest of the free world put together. “However, what I recommended in the book was to accumulate sil ver,” Smith said. “But I understand that beginning the middle of last year the Hunts began to pyramid, bor rowing money against the silver they already owned to buy more. I made no such recommendation in my book, and so at that point they were departing from the advice in my book.” In an interview following a tour of Texas promoting his book. Smith said the time has come for Americans to begin serious hedging against in flation. “People do learn about econo mics,” Smith said. “That last bout of inflation in 1974 is still fresh in every body’s memory. And then we had the more recent runup early this year, and after a short respite, we are roaring up again. “My experience has been that the segment of the population that is worrying about economics is becom ing very large, much larger than it was even last spring, and a great deal larger than four or five years ago. “Throughout the calendar year 1977 and extending up to the middle of this year, people were suffering a decline in their earnings and actual income, in real terms. The real stan dard of living is declining. We have completely ‘fiat’ money, unbacked and unredeemable. The only thing that keeps paper money in circula tion in those circumstances is confi dence. “I think people have a low level of confidence in Mr. Carter; that is just my perception. At the same time, Mr. Reagan is somewhat of an un known, and that creates additional uncertainty. You have to throw in war scares in the Mideast and Europe. “The likelihood is we will move from past double digit inflation to perhaps 30 percent in the next round. After it goes above 30 per cent, we are in danger of a runup to triple digit inflation. I don’t look for it soon, but there is a real danger for later this decade and maybe by mid decade. "There is a lot of uncertainty around, and that is anathema to financial markets. Uncertainty is another way of saying loss of confi dence. Smith’s advice is for investors — of all ranges — to convert dollars into precious metals, buy buying silver, gold, platinum and coins. "The book provides a range of per centages because it is difficult to be precise when addressing a general audience,” Smith said. "It is in tended as a guide.” Specifically, he said, investors with over $50,000 should follow this formula: 40 to 50 percent in silver bullion; 5 to 10 percent in common silver coins; 10 to 15 percent in gold bullion; 5 to 10 percent in platinum bars; 10 percent in gold coins; 5 to 10 percent in diamonds and 10 to 15 percent in cash or equivalent in an appreciating currency, such as Swiss francs. “For the fellow with $10,000, I would suggest he go dowi | nearest coin dealer and kjL .coins, prior to the 1965dale^ percent silver coins,” Smith Once the portfolio is pirj . Smith suggests keeping it iai> ; By MAR hank because of U.S. law; : Batta allow confiscation of an indipr . A- K° ni assets during times of emerpl his share c "For the person who ore coming $10,000 or less, many coin lity offer storage services andthiJugster, v be their best choice,” he sa ointed as e not recommend safety depos T^xas Vet in commercial banks, sm;Ostii I,abon cause of the precedent in thirologist wit when gold coins and gold® ! knew I ha< bullion stored in commercii scratching i ties were seized.” h a grin. _ , . „ . „ iiigster wa: Smith, 52, was borainStiLL &M ^ Mo., in a family of 11 child-*, as directo was educated at the UnivK^||jj ace d py, Kansas and the Universityol^^^.d City School of Law. Sena tor urges legal action e Nuke coastal storage leal United Press International AUSTIN — A state senator from Galveston has urged Texas Attorney General Mark White to act against a firm which stored leaking plutonium containers on the Texas coast and then shipped them out of state. Sen. A.R. Schwartz, D- Galveston, urged state Health Com missioner Dr. Robert Bernstein to ask White’s assistance in legal steps against Todd Research and Technical Division in Galveston. Schwartz said Todd failed to dis close to the Health Department or to the city of Galveston that it had ^J^exma Gjutbuxe, <SHin Caxe. 707 Shopping Village 693-5909 Skin Care jor Men &> Women Deep Pore Cleansing, Skin Care Products, Make-up Consultations, Cosmetics, Eyebrow Shaping, Hair Removal & Body Wrap. Permanent Hair Removal offered by Jackie Ployed Certified Electrologist iugster join He started an economic'/ * n ^ ter, called "World Market tive, ” in the mid-1960s. In w °rkir dieted: devaluation of thejk c ‘ ,ven 'd V America’s double digit inflJ[j| cat 1973; the Arab oil embargotb[f Cl ' 1 l vet * na the recession in 1974andrc:, ( ‘ is cover 1975; the zooming preciom:' u S ster is “ ri markets and - in Januan : that there will be no reces|Pf^ a " d 1979 but that interest ntellV 11 i M soar. ‘l oi 11, Eu “Very few think that we e* Jn the dia ited States) will ever get int to go to high inflation,” Smith writes intWer town, g "They can’t conceive of thc jle with st going the way of Germany iMonly chib But then neither did the Gtege degree, conceive of it in 1921." erinary Colic eceived his H. hough suppe ily while in : to hold do e time while My last two; ;ed for as in; Ihe said. Ugster said h stored plutonium and other:' teru .' a ” an wastes at its storage siteonfe er e l)ri Island or that two plutonitS: , tainers were leaking at the R^' s ,. t <K t<)I . ' apparently during transit toi|^, lv ®* n / burial site in Nevada. , et e . Bernstein said he leameil. m V( 1 rm leaks after the waste burial 7 more , Beatty, Nev., refused to acC e , lcnu a< leaking containers. " h e er , e >' 01 The wastes were consic . f ' . legal property of SouthwestHy a California firm, Bernsteini i , , “We cannot permit an ^ . t eC . . F . .ions that he company to transport nuclei|> ■ into Texas, store these wastfiyj . . Texas coastal zone through 15 s °^ hurricane season, and then™A . b> s 1 those same wastes, presunub'. c 0 ' 1 ing all the way, out offfe* v ? t€ Schwartz said in his letterl? riI } a 7 , . . idea ot the health commissioner. . fl . i . f Todd Shipyard and [ r0 Nuclear failed to disclose ki , ma < ence of this material,” Sehw ^ ^ sa1 ^ and that act of omission is iifci. i • » able ” ^olarship, able ' “Suse that WANTED* • OLD MINE CUT DIAMONDS • OLD EUROPEAN CUT DIAMONCS • CHIPPED OR BROKEN DJAMONKi • ANY GEMSTONES OVER ONE • ESTATE JEWELRY COLLECTIONS years pass s future wii Immediate Cash Paid!! Call today or ship your stosj registered-insured mail forij mediate offer. Mail to: ange proy sin Muni< il to teach e kept the p. three yea er said witl S graduatir T traveled to the Ui diamond brokers internai traveled ar ^ n ei a w est on a College Station „„i ■ , . 713-89A-1M7 h e dldll nited States ijob as viro Rs at the S for Research Now Better Than Ever. You Will Be Pleased With These Carefully Prepared and Taste Tempting Food Each Daily Special Only $2.13 Plus Tax. “Open Daily” Dining: 11 A.M. to 1:30 P.M. — 4:00 P.M. to 7:OOPJ MONDAY EVENING SPECIAL Salisbury Steak with Mushroom Gravy Whipped Potatoes Your Choice of One Vegetable Roll or Corn Bread and Butter Coffee or Tea TUESDAY EVENING SPECIAL Mexican Fiesta Dinner Two Cheese and Onion Enchiladas • w/chili Mexican Rice Patio Style Pinto Beans Tostadas Coffee or Tea One Corn Bread and Butter WEDNESDAY EVENING SPECIAL Chicken Fried Steak w/cream Gravy Whipped Potatoes anil Choice of one other Vegetable Roll or Corn Bread andBt Coffee or Tea Antonio. is in San Ai his wife wei [married in Mission. thought t in the oldest rriage wo said, use he wa: in virology led a fellows University. degree t 'ears. after lea-s E ugster go ’s veterinary as head of a THURSDAY EVENING SPECIAL Italian Candle Light Spaghetti Dinner SERVED WITH SPICED MEAT BALLS AND SAUCE Parmesan Cheese - Tossed Green Salad Choice of Salad Dressing - Hot Garlic Bread Tea or Coffee story naturall FOR YOUR PROTECTION OUR PERSONNEL HAVE HEALTH CARDS. FRIDAY EVENING SPECIAL BREADED FISH FILET w/TARTAR SAUCE *: Cole Slaw Hush Puppies Choice of one vegetable Roll or Com Bread & Butter Tea or Coffee SATURDAY NOON and EVENING SPECIAL Yankee Pot Roast (Texas Salad) Mashed Potato w/ gravy Roll or Corn Bread & Butter Tea or Coffee i“Quality First”i SUNDAY SPECMI NOON and EVENINi WOOKE 5:55, 7 ROAST TURKEY Dis served with Cranberry Sauce Cornbread Dressing Roll or Corn Bread-E CoffeorTea Giblet Gravy And your choice of any One vegetable