Word: bonde
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Dates: during 1950-1959
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...money market as tight as his credit-pinching had created. Humphrey might have had to boost interest rates even more to raise such huge amounts. The credit expansion would not only create almost the identical amount banks may need to finance new-money bond issues; the prospect also stiffened the prices of both Government and corporate bonds. The Government's 2½% bonds rose a full point, and Humphrey's new 3¼% bonds rose to par for the first time in six weeks...
...Government bond issues offered higher interest...
...Bridge port, Conn, in 1902, for a while seemed destined to run in the jostling and confident pack of those who always see but never seize the glittering tumbleweed of fortune. But after toiling as a steamboat wiper, a strikebreaker, a manufacturer's agent and a bond salesman, he switched to real estate and finally reached Nevada with a grandiose scheme, later carried out at a profit of almost half a million dollars, to peddle practically the whole eastern shore of Lake Tahoe. Nevada, at the moment, was in bad shape. Its big ranches were almost...
...World War II, the FRB also had to peg bond prices to enable the Treasury to float the tremendous additional debt ($226,500,000,000) to finance the war. The issues were so huge that only banks, rather than individuals, could absorb most of them. This "monetized" the debt, for banks did not pay for the bonds outright. They simply created a deposit for the Government to draw checks against it. Receivers of these checks deposited them in their own bank accounts. From these increased deposits, the banks could lend about $5 for each $1 received. Thus credit, and inflation...
Order Obeyed. In Columbus, Ohio, Richard McGlinchey, arrested for speeding, telephoned his wife from the police station, told her to hurry down with his bond money, met her at the door, learned she had just been arrested for speeding...