Word: feds
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Dates: during 1980-1989
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...supporters of the yellow metal favor a "fractional" gold standard in which money would be only partially covered by Government gold stocks. This would not entirely remove the Federal Reserve's role in monetary policy, but would restrain its powers to issue paper money. They believe that the Fed's policy of controlling inflation through the money supply is well intended but ineffectual. Lawrence Kudlow, chief economist of the Office of Management and Budget, says that the Federal Reserve has become a "monetary Gong Show...
...world economy to an asset that represents such a small part of the total monetary system is really impossible. You could as well stabilize the world economy on the cabbage standard. It is absurd." Adds the Fed's Schultz: "You have to get inflation down before you link the dollar with any commodity. Otherwise there will be turbulence and disruption as the real value of the dollar erodes and people demand their gold...
...system, for example, required banks to keep a portion of deposits, say 8%, in reserve with the Federal Reserve, regardless of whether the deposits came from domestic or foreign sources. On a foreign deposit of $1 million, $80,000 would have to be kept with the Fed, leaving the bank with only $920,000 to lend...
...past 20 months, Rosen has been living at Kalmar Lasarett, a community hospital; Sweden's socialized health-care system picks up the tab for treatment and meals. But fed up with bland food, she has been taking short trips outside: "I leave after lunch and manage to hit three or four restaurants before I feel satisfied. Then I come back to a new hospital tray for dinner." She would like to leave the hospital and cook for herself, but the big problem is money. Rosen lives on a pension of $7,680 a year, and government regulations allow only...
...Young men dispatched to the mines quickly succumbed to tuberculosis. Ginzburg, who acted for a time as a medical assistant, reckoned that "something like a thousand" died in her arms. Among her own ordeals was a 46-mile forced march across the frozen taiga, while seven husky, well-fed guards escorted her in relays...