Word: dollarsâ
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...would tell about the seamy things he had done for Ehrlichman," presumably as one of the White House squad of secret investigators, "the plumbers." According to Haldeman, Nixon asked how much money.would have to be raised over the years to meet such demands, and Dean replied, "probably a million dollars???but the problem is that it is hard to raise...
...Martin called "a fact of financial life" the habit foreign nations have of supporting their faltering currencies with dollars. Shopkeepers in many parts of the world give generous discounts to tourists who pay in dollars. Millionaires in Latin America and other developing areas convert their own currencies into dollars???paying a high premium for the privilege?and often deposit the dollars in U.S. banks...
Unfriendly Attack. There is, inevitably, a reverse side to the coin. This vast outflow of dollars???for aid, military assistance, business investment, tourist spending?has for 14 years exceeded the money flowing into the U.S. from its foreign transactions. Result: a chronic deficit in the U.S. balance of payments. What makes the payments deficit so serious is that each deficit dollar is like a check written against the gold supply of the U.S. Treasury, which is pledged to exchange foreign-held dollars for gold upon demand. Largely as a result of its payments deficit, the U.S. has suffered a steady...
Because foreign central banks have built up?and cashed in?tremendous stocks of dollars, Fort Knox's bullion hoard, which backs the value of the dollar, has plunged in the past seven years from $21 billion to $13.9 billion. Foreigners now hold $27.7 billion in dollars???almost twice the value of the U.S. gold supply?and they can demand gold for them at any time. Though it is highly unlikely that they would ever cash in enough to break Fort Knox or force the U.S. to devalue the dollar, the mere fact that they have the power...
...scoured the U. S. and Europe for the blood he wanted. He evidently got what he was looking for. Last spring Horse & Horseman selected Woodward's 19-year-old Marguerite?whose four colts (Petee-Wrack, Gallant Fox, Fighting Fox and Foxbrough II) have earned over a half million dollars???as the most eminent broodmare in America. When in 1923 William Woodward felt that he was ready to pit his thoroughbreds against the best in the U. S., he began to race...