Word: credited
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Dates: during 1950-1959
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This handy division of labor permitted the Russians to play the two faced Janus. Their prominent role at the Festival allowed them to take credit for the existing fragments of "peace and friendship", while behind the closed door others could stoke the furnaces of power politics...
...fiscal discipline of the gold standard would act as a brake on inflation by preventing governments from overspending, head off world recessions by doing away with the excesses that lead to them. A full gold standard, as they see it, would also put a damper on sudden expansions of credit not backed by gold, help stabilize prices, and step up the flow of capital-and thus international trade-by making all currencies freely convertible into gold...
...return to the gold standard would probably have to be accompanied by a price hike in gold to provide more adequate backing for the vast expansion of money and credit in the last few decades. Some economists who do not advocate a return to the gold standard nonetheless want a price hike. They argue that the U.S. has artificially kept gold at a fixed price since 1934, while the prices of the world's goods and services have more than doubled, and that not enough gold has been produced to keep up with the world's economic strides...
...into a million dollars when he began trading in oil leases, was wiped out in 1921, when oil prices tumbled, made another fortune and went broke again early in the Depression, when overproduction in the East Texas fields brought posted prices down to 10? a barrel. He lived on credit, unable to pay either his office rent or his $8 monthly dues at the Fort Worth Club. In 1932, as oil prices began to rise, Sid came out of hibernation...
...Credit on the Barrel. Wangling money, equipment and labor on credit, Richardson began wildcatting, brought in West Texas' famed Keystone field. "It was luck," he recalled, surveying his pyramiding debts, which chased right after his skyrocketing wealth. "I did it by jumping up in the air six feet and holding myself up by my own bootstraps...