Word: equilibrium
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...Germany's Bundesbank president, Karl Blessing surprisingly supported the French' "What the world needs," said he, "is not so much the general reform of the international monetary system as an improvement of national policies of adjustment. If all leading countries were to aim at balance-of-payments equilibrium the need for reserves would be small...
...malady of the present system is symptomized by a deficiency in liquidity and a fundamental dis-equilibrium. In this system central banks use a mixture of gold and foreign exchange as reserve assets--meaning that they back a portion of their currency with dollars and pounds. Every central bank has the legal right to convert its dollars to pounds at the rate set by the U.S. Treasury: 35 dollars to the ounce. But every central bank knows that the U.S. Treasury just doesn't have enough gold to redeem every dollar in foreign hands. Therefore, every central bank is reluctant...
...near his recording studio and Mother Bertha Productions, a subsidiary corporation that publishes sheet music. His mother Bertha is a bookkeeper there. The move was delayed by Phil's reluctance to leave his $600-a-month Manhattan psychoanalyst. Now, however, he figures that he can "keep my equilibrium" by calling the analyst long-distance any time he needs instant therapy...
...fault is at least half Miller's. He knows too well that there is no simple choice between conscience and giving oneself over to the opposing forces, internal and external. That equilibrium is too much to expect from a man alone...
...stock market usually plunges on news of ominous or unsettling events-as it did for the Korean War, the Eisenhower heart attack, the Cuban missile crisis, the Kennedy assassination-and it usually takes days or even weeks to regain its equilibrium. Last week certainly produced enough news to unsettle Wall Street, but this time the market's reaction was different. Despite the Jenkins scandal, the Kremlin overthrow, the Chinese bomb and Labor's victory in Britain, the market dipped for only a few hours, quickly reversed direction, and by week's end had made up practically...