Word: banke
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Dates: during 1960-1969
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...nations become increasingly linked to an international currency, and as they exploit their comparative advantages and trade comprises a larger share of their total product, they will become increasingly vulnerable to the kind of economic sanctions a central bank is capable of applying. The ability of a nation to long defy world opinion or conduct itself in a manner a majority of other nations think improper (the U.S. in Vietnam or South Africa and Southern Rhodesia within their border), would be significantly reduced...
What will gradually evolve is a world central bank more or less analogous to the Federal Reserve System, with power over individual nations similar, if not so complete, to the power the Fed has over member banks. It may be 20 or 30 years before the nations of the world will realize that their economic autonomy has been seriously compromised, that in fact it no longer exists. At that point, if not sooner, the nations will develop some sort of political control over the system...
...Walker Cup team. But laurels alone were not the price of admission. Each student had to be personally recommended by his own local or national P.G.A.; he had to cough up $250 for tuition and $125 for a year's P.G.A. dues, and he had to show a bank balance (or a sponsor's pledge) of $7,500-enough to cover his expenses for six months on the pro tour...
...dividends, to be sure. At cur rent prices IBM's annual dividends ($4.35 last year) amount to a mere .7% return on investment, against 4% for other manufacturing stocks and 5% for bank savings accounts. But growth is something else again. As a result of splits-including this week's-and other distributions, a 100-share investment in 1914, which would have cost $2,750, has grown to 59,320 shares worth more than $20 million...
...General Electric loudspeakers are made in Japan. Other advantages of U.S. industry are gradually fading. The growth of the Common Market, for example, gives the world another region where economies of size are possible. To make matters worse, complains Chairman George Moore of Manhattan's First National City Bank, "too few people are interested in exporting. The world has a hell of a time buying American products...