Word: dollarization
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Dates: during 1980-1989
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...revolt, touchstone of the most important social and economic movement of our era, seemed to emerge half from central casting and half from the Bible--the prophet come to save a nation, live and in color. His Jeremiad condemned demon government and its lecherous grope for the tax dollar; the reverberations of Howard Jarvis's leap in the dark still echo today, as his spiritual brethren control the White House, the Senate, and apparently, the national conscience...
...smokers during the 70's were hanging out using bongs and listening to the Allman Brothers, Stroup was creating an organization to prevent the arbitrary labeling of these smokers as criminals. Funded by public interest groups such as the Playboy Foundation and by secondary components of the multi-billion-dollar marijuana industry such as paraphernalia manufacturers and High Times Magazine, Stroup was able to put together model decriminalization legislation sponsor objective scientific studies and provide pro bono legal aid to the victims of some of the crueler dope laws in the United States, victims like Frank Demolli...
Ruff (How to Prosper During the Coming Bad Years) predicted the destruction of the dollar: "We will look back on 20% inflation with nostalgia." Investment seminars have become regular events at vacation spots in Florida and California. This weekend some 1,600 people are expected to pay up to $445 each for a five-day marathon at Miami Beach's Fontainebleau Hilton...
George Washington, the incredible shrinking man on the dollar bill, warned against entangling foreign alliances. What would George think today? The world is knotted with defense treaties, trade agreements, international monetary plans; and each year $100 billion leaves his country in a cloud of imported oil smoke. This thunderhead of new wealth floats around the globe, threatening inflationary chaos wherever it hovers. Will it descend on gold, Beverly Hills real estate, Kansas farm land, New York coops...
...some respects, OPEC is to the dollar what Charles Darwin was to fundamental Christianity; practically overnight a cartel that controlled most of the planet's known oil reserves demonstrated that financial security was not necessarily descended from paper currency. "The store of value," writes Goodman, "had become oil. The yen, the marks, the dollars, the francs were spent; the oil was saved...