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SDRs were created to supplement the Bretton Woods currency regime, which was built around a dollar linked to gold. After President Richard Nixon decoupled the dollar from gold in 1971 and allowed it to float freely in currency markets, the subsequent dollar crash led to talk of establishing the SDR as global reserve currency. That faded when the high interest rates set by Federal Reserve Chairman Paul Volcker to throttle inflation lured foreigners back to the dollar in the early 1980s...

Author: /time Magazine | Title: Why Supplanting the Dollar Would Be Good for America | 4/9/2009 | See Source »

...While her photographs of New York street life helped shape a generation's impressions of the city, Helen Levitt, 95, was probably best known for shots of children from the '30s and '40s, whether they were wearing Halloween masks or watching bubbles float...

Author: /time Magazine | Title: Milestones | 4/7/2009 | See Source »

...middle of the Irrawaddy River, ethnic Burmese migrant Aung Tun sifts for specks of gold. Over the past decade, Chinese demand for gold has skyrocketed, and thousands of ethnic Burmese have moved to Kachin to pan for the mineral, as well as mine jade. But for the right to float his raft on the river, Aung Tun must pay fees to the Burmese government, the Burmese police and the KIO. If the specks of gold add up, he can make the payments. Otherwise, Aung Tun goes into debt. If he survives, that is. During the five years that Aung...

Author: /time Magazine | Title: The Scramble For A Piece of Burma | 3/19/2009 | See Source »

...Frankfurt Airport. Passengers can book massages, facials and other treatments, and pay for them with miles or cash. The spa has six large private bathrooms, where you can shower or take a Jacuzzi or even play with the rubber duckies dressed in dirndls and lederhosen that float in the bath. There's also a room with a Wii console and fitness and sport games to pass the time. To round out the pampering, Lufthansa provides limousine service from the lounge for passengers whose flights depart from terminals...

Author: /time Magazine | Title: Across the Board, Luxury Travel Is on Sale | 3/9/2009 | See Source »

...Whole Goddamn Line, Jabroni,” followed by the advanced course, “Seriously, Don’t Fish Out All the Shrimp From the Dishes That Have Shrimp.” Chiappini teaches the alternate introductory course, “It is Not Okay to Float In and Out of the Serving Line as You See Spaces Open Up.” All students will be required to take the capstone military history course, “The Gastrointestinal Campaigns of General Gao.” 3. A companion institute could address the conversational Groundhog Day that...

Author: By Daniel K Bilotti and Vincent M Chiappini, CONTRIBUTING WRITERSS | Title: May We Stimulate Your Expansion? | 2/24/2009 | See Source »

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