Word: bankes
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Dates: during 1970-1979
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...name of the game is capital, more power to it. That's the way it goes in capitalism. A tax-exempt entity can invest. The Jesuits started the Bank of America," Runyan says...
Schreiber keeps tight control over his agents in Frankfurt, New York, London, Hong Kong and Singapore, contacting his team almost instantly to find out who is buying, where and why. Such intelligence enables the bank to be extremely precise in its own actions. Says Schreiber: "Even after we submit written bids, we usually adjust them by a few cents via Telex right down to the deadline." At the U.S. Treasury auction last month, Dresdner's bid came in just high enough to win, and a Swiss competitor's offer failed by only 20? per oz. One clear moral...
Remarkably, almost half of the 1,000 tons of gold that the IMF and the U.S. Treasury have put on the market in the past five years has been scooped up by one buyer: West Germany's Dresdner Bank. And its drive into gold has been pressed by one man, Hans-Joachim Schreiber, 46, who was appointed to the bank's board of directors five years ago. His faith in the metal dates to his youth in postwar Germany, where, he recalls, "some people owed their survival to the possession of a few ounces of gold...
Some of the gold goes to the bank's own account, but most is for its clients. The Dresdner is rumored to be active as an agent for Middle Eastern investors, though much of the demand is from West German money managers. Schreiber advises them to keep one-quarter to one-third of their investments in gold...
Celebrated outlaws are also perpetual sources of popular revisionism. While the film Butch Cassidy and the Sundance Kid purported to document conclusively that the two bank-robbing adventurers died during a fling in Bolivia, some Wild West buffs insist to this day that Butch beat it back to the U.S. around 1910 and lived quietly with relatives out West. Jesse James stirred such a spirited buzzard of legend and myth that, after he was shot dead, subsequent generations were persuaded by transparent impostors that the St. Joe desperado was, yessir, still alive. Questions about James (Was he a Robin Hood...