Word: floating
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...Depression, when the New Deal wanted "cheap money" (i.e., low interest rate) the FRB lost much of its independence. To help the Treasury float each new issue of low interest bonds to finance mounting deficits, the Fed had to support the prices of all bonds by buying enough to keep them above...
...World War II, the FRB also had to peg bond prices to enable the Treasury to float the tremendous additional debt ($226,500,000,000) to finance the war. The issues were so huge that only banks, rather than individuals, could absorb most of them. This "monetized" the debt, for banks did not pay for the bonds outright. They simply created a deposit for the Government to draw checks against it. Receivers of these checks deposited them in their own bank accounts. From these increased deposits, the banks could lend about $5 for each $1 received. Thus credit, and inflation...
...century chapel in Vallauris on the French Riviera. Picasso's War shows a team of horses pulling a hearse through seas of blood. Atop the carriage sits a monster with a pack full of corpses; his snorting horses trample the world's culture, and in his wake float evil, lobster-sized germs. At bottom, two suppliant hands show mankind's futile protest against the horrors of modern war. Standing alone is the Communist version of mankind's protector: a heroic Red peace partisan, with a peace dove shield. The other panel is Picasso's personal...
...Russ Jr. almost before they had begun: the baby died from multiple brain hemorrhages at 18 months. An Army doctor testified at the inquest that he had heard an ugly little story from Russ's blonde wife that Tongay had been trying to teach the baby to float in the bathtub and had slapped him on the head because he did not obey. But Russ's wife testified that the baby was bruised in a fall down the stairs, and no charges were filed...
Composer Monteverdi's Vespers and Magnificat, which includes ten of his 70-odd sacred works, begins with a stately blaring of trumpets and trombones, suddenly quiets to let a Latin choral pianissimo float sweetly through the air. In the movements that follow, Monteverdi sings the praises of God; sometimes, as in excerpts from the Song of Songs, with a distinctly earthy flavor; sometimes with a powerful, jagged emphasis; often, in the vocal solos and duets, with highly ornamental flights of fancy; always with a markedly modern feeling for the accents of individual words. The performance, by the 150-voice...