Word: dollarization
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Dates: during 1980-1989
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...inhabitant of Baton Rouge, home to Swaggart's multi-million dollar estate, church and Bible College, I derive particular amusement and satisfaction from his fall. Swaggart represented the hypocrisy and hatred that arises from militant organized religion. The moral of his fevered sermons--often laden with anti-Semitic and anti-Catholic overtones--was to give more money to his ministry...
Hernandez and Parker do have excuses. They say they were forced into the limelight and nobody offered them a massage to sooth their million dollar job stress. The pressure was too much to handle; their only way of coping was through expensive, hip narcotics. They claim analysts are for wimps. Perhaps they didn't have enough time to take naps...
Last week the Managua regime unveiled a desperate strategy to tame Nicaragua's hyperinflated economy. The government replaced the existing currency, the cordoba, which was officially valued at 20,000 to the U.S. dollar, with a new cordoba pegged at ten to the dollar. The monetary shuffle, coupled with drastic price increases, left many of the country's 3.3 million citizens baffled and worried about their purchasing power. A gallon of gas that used to cost the equivalent of 16 cents, for example, now costs $1.50. Explaining the decision to change the currency last week, Economist Mario Arana declared, "Things...
...coming back from African safari. It was too different." Ellen Malcolm of Washington, D.C., avoided telling office colleagues that she was the granddaughter of one of the founders of IBM and purposely dressed down to fit in. She explains, "I thought that they would see me as a walking dollar sign instead of the person...
...sharp decline in the value of the U.S. dollar has strapped the State Department's overseas buying power. Everything costs more, from agricultural grants to embassy payrolls to intelligence gathering...