Word: european-american
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...European capital market," comments Switzerland's respected Neue Zürcher Zeitung, "has increasingly lost its European character and has grown into the nature of a European-American financial partnership." Many Europeans devoutly hope that U.S. businessmen, whose sales there have now reached $18.6 billion annually with profits approaching $2 billion, will broaden the partnership. For one thing, they would like to see more equity financing-sales of stock in U.S. firms' European operations to the European consumers who make them possible-rather than constant bond flotations...
...Gold. Germany now claims to have something like $2,000,000,000 in gold. If she shipped that here, she would add to our surplus, embarrass us. Instead, she will help us put gold back into circulation by putting her $2,000,000,000 fund into a new European-American ("Schachtian") Bank of Intercontinental Settlements. Protected by this margin, the U. S. can then lend Germany, says Westrick, about $5,000,000,000 in gold. This would come back in payment for German purchases throughout the Hemisphere...