Word: floats
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...Treasuries required by the now abandoned dollar peg. This was leading to excess money and credit creation?underscoring the mounting risks of inflation and asset bubbles. China's coastal property bubble was a manifestation of this risk, which Beijing could no longer afford to ignore. A "managed float" provides China with greater discretion on the sterilization front, thereby tempering the excesses of its domestic financial system...
...foreign-exchange reserves, which totaled some $660 billion at the end of the first quarter. Other Asian countries?also massively overweighted in dollars?should follow China's lead. The near-simultaneous announcement by Malaysia that it would abandon the ringgit's dollar peg in favor of a managed basket float confirms such a possibility. The Bank of Korea has also been itching to diversify out of dollars...
...thing, and that's what I've tried to do. My publisher's different, my medium is the same, but the subject matter is different, the style is different. I try to be my own person, sink or swim, kind of on my own. Hopefully float...
Their voices float eerily across more than eight decades, ghostly echoes of a fabled operatic golden age: Nellie Melba, Emma Calvé, Jean de Reszke, Lillian Nordica and others, recorded live at the Metropolitan Opera by an enterprising music lover armed with an Edison cylinder machine. The sound is strictly low-fi, the scratchy surface noise is sometimes overwhelming, and the tantalizing fragments often break off abruptly with a singer in mid-phrase. But listening to them is thrilling, like hearing Lincoln recite the Gettysburg Address...
...instant later the tip of the booster pivoted into the external fuel tank. The ensuing explosion rocked but did not obliterate the shuttle. "The orbiter itself seemed to float, very briefly, above the fireball of exploding hydrogen and oxygen," said one member of the shuttle inquiry panel. He was reminded of the way a bubble survives a cascade over Niagara Falls, "so fragile, yet with all that wild energy around it." Says a National Transportation Safety Board investigator: "The crew compartment was pressurized and sealed tight and welded into a kind of cocoon or bubble that may have suffered relatively...