Word: goldings
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Dates: during 1960-1969
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...past decade, U.S. gold reserves have dwindled by $10 billion, and devaluation abroad is likely to accelerate the outflow. For one thing, it will make some foreign imports cheaper for Americans while U.S. exports will be more expensive for the 23 nations whose currencies have been devalued. For another, it will certainly encourage more U.S. tourists to head abroad to take advantage of bargain prices in countries that have adopted minipounds or minipesetas. "Now Britain and Ireland give you more for your money," trumpeted Pan American World Airways in newspaper ads 36 hours after sterling was devalued. "Things that used...
...case in point. They considered their act a sign of protest against the denial of Negro rights in general. However, some Negroes among the many who have won fame and fortune in U.S. athletics thought that the youngsters had picked the wrong field. Said Jesse Owens, who won four gold medals in the 1936 Olympics: "There is no place in the athletics world for politics...
...minimum charge for borrowing from 5?% to 6%. Watching the minimal extent of the fallout, Treasury Secretary Henry Fowler pronounced himself "very encouraged" over the dollar's performance against the resulting speculative pressure in foreign exchange markets. The biggest effect-accompanied by some temporary alarums-came in the gold market. Speculators poured buy orders into the eight-nation London gold pool. In a few hours, they snapped up an estimated $23 million worth of the metal. On Thanksgiving, sales not only shot up to a record $112 million in London, but the gold rush also spread to Paris...
...demanded that the United States agree to major reforms of the world monetary system and help to establish a pure gold standard in international finance...
...Gaulle doesn't know what he's talking about," Caves said. "He supports the gold standard as a way of removing the dollar from international markets. He finds the dollar personally degrading...