Word: deake
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Nicholas Deak, president of the Deak-Perera Group, a major U.S. gold dealer, believes the bulk of the buying can be traced to three sources. Demand from the Middle East remains strong, he says, not only from OPEC governments eager to protect their oil profits from U.S. inflation and the decline of the dollar, but also from peasants and small traders for whom gold remains the most popular portable security. Demand from Europe is accelerating because inflation there is rising. Bullion fever has now spread to Switzerland, reflecting fears about inflation even in that land of granite-hard currency...
...Deak -Perera...
...bought $10,000 in gold at $152 per oz., $10,000 in silver, and half as much in Swiss francs. Just over three years later, the gold is worth more than $16,000, and the other investments have also gained handsomely. Now he plans to increase his investments. At Deak-Perera, the nation's largest retailer of gold coins, Chairman Nicholas Deak reports that some of his recent customers have been high school kids. Says he: "It's a little scary. They just walk in and say they have a little money and they want...
Most issuers of traveler's checks, including American Express, Thomas Cook and big banks, sell checks denominated in foreign currencies - 15 to 20 of them in the case of Deak & Co., the big currency dealer. They are intended for tourists but can be bought by stay-at-homes too. Deak reports that its sales of foreign-currency traveler's checks have doubled in the past year and estimates that 25% of the purchases are pure speculation. Nor is it only a poor man's game. Executive Vice President Otto E. Roethenmund recalls one customer who bought between...
Skeptics and optimists may dismiss these views as the ursine musings of just another gold fanatic. But it should be remembered that Nick Deak is a survivor-of wars, inflation and collapses on two continents over half a century-and in difficult times, perhaps the survivors can offer us a lesson...