Word: dollars
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Dates: during 1960-1969
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...Group of Ten, summoned the world's leading central bankers and finance ministers to an emergency meeting in Bonn, demand for gold in London hit the highest level since March. In New York, sterling hit rock bottom at $2.38. In Swiss money markets, it slipped even lower. The dollar, by comparison, weathered the crisis fairly well, reflecting general confidence that the U.S. was finally doing something convincing about its balance of payments problem...
...point in the proceedings, Schiller snapped at the U.S.'s Fowler: "Let us be clear that the mark is not undervalued, but that the dollar is overvalued." Fowler replied with an extraordinary paean: "Gold is the sun," he said, "and the dollar is the earth. The earth revolves around the sun and the relationship doesn't change." Retorted Schiller: "Then I guess we're all just little satellites launched from Cape Kennedy." After Jenkins and Fowler had characterized the German trade tax concessions as inadequate, Schiller declared, "If the lopping off of one third of our export...
They agreed that gold would remain the primary international asset by which nations settle their debts with one another. The U.S. dollar, then backed by 57% of the free world's nationally held supply of gold, would be the key currency. Under that arrangement, then and today, other nations value their money in terms of the U.S. dollar, which is itself valued in terms of gold. The dollar's acceptability in world finance rests on the U.S. Treasury's pledge to redeem dollars held by foreign governments for gold at an unchanging...
...help her--that is it--there is no one in this court to help anyone else. We are all alone against the unreasoning command of the eyes. Someone else is crying, a whole family--the fattest woman I have ever seen, her daughters dressed in vinyl shoes, a three dollar skirt, and hair that was set the night before (she set it the night before to look neat when she went to court). The son, the brother has been sentenced for possessing a revolver; bail is $5000. He has a record that it took the court attendant five minutes...
...estimated $1 billion, making the tiny republic (pop. 2,000,000) the third richest on a per capita basis in Asia, after Japan and Hong Kong. Recently, Singapore applied for full currency convertibility under the rules of the International Monetary Fund. That means that its dollar is healthy enough to be freely exchangeable with other currencies, and that Lee is succeeding in his program for survival by building what he calls "the rugged society...