Word: dollarization
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Dates: during 1980-1989
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...Washington worked on these plans, Eugene Hasenfus awaited his fate, which may be decided as early as this week. "I don't believe we hired ourselves for patriotic reasons," he said last week in Tipitapa, a town outside Managua where he has been imprisoned. "It was done for the dollar mainly." Would he do it again? "If somebody asked me to, I'd ask him if he had all his marbles." Does he feel he is paying for the "sins" of the U.S. ? "Amen. Amen." Surprisingly, many of the Nicaraguans who lingered outside the courtroom seemed sympathetic toward the hapless...
Galbraith said that monetary policies have increased the value of the dollar abroad, causing a huge trade imbalance. This imbalance has offset the expansion caused by the government's deficit spending, he said...
...Even as the dollar depreciates, as I think in the future it will, manufacturers in other countries are entrenched in the [U.S.] market, and they are not easily dislodged," he said...
Every time someone says "Where's it at?" it is as if a counterfeit dollar enters the nation's money supply. Gradually, people lose faith in the currency until it is as worthless as the German mark in the '30s. When it takes a wheelbarrow full of bills to buy a loaf of bread, the monetary system is no longer useful as a standard for trade. When "don't" follows "he" and "doesn't" follows "I," language is no longer a useful standard for communication...
...schools perform a seemingly trivial service in teaching kindergarteners that there are 100 pennies in a dollar and 12 inches in a foot. These lessons are vital, however, because currency and measurement systems are useful only to the extent that they are universal...