Word: dollarization
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Dates: during 1980-1989
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Canadian tourists were suddenly thinking twice about vacations to Florida, while Americans were packing up for ski trips to the Laurentians, north of Montreal. Reason: the continuing decline of the Canadian dollar, which early last week fell below 70 American cents for the first time and hit a low point of 69.24 cents on Tuesday. Alarmed by the drop, the government-owned Bank of Canada intervened heavily in the currency markets, spending U.S. dollars to buy Canadian dollars in an effort to increase their value. By week's end Canada's dollar was back up to 71.07 cents...
Because of the large amount of money invested and because of the urgency of our efforts, ("we cannot continue to support this regime for one moment longer") we will take 49 cents on the dollar in selling off our stock...
Johnston's "Stretch-A-Buck" campaign, which she illustrates with rubber dollar bills, stresses social services, the nuclear freeze, and deficit reduction through defense budget cuts...
Fifteen years. Please join me in a polite cough. For a mere trillion-dollar investment our nation can attempt to produce a space-based military technology that, by its own estimates, should attain obsolesence within a decade of its conception...
...entertainment giant with some flaky political views, a sort of right-wing Vanessa Redgrave, then the Theatricals might have some sort of defense. They are handing out an entertainment award, not the Nobel Peace Prize. But Stallone's last two films were cynically obvious attempts to milk every last dollar out of old wounds and reflexive aggression. The politics of Rocky IV and Rambo were essential to their demagogic appeal...