Word: goldings
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...same time, Nixon encouraged his appointees to hold news conferences. The danger of attempting to say nothing while talking, however, immediately became apparent. When Chicago Banker David Kennedy, who will head the Treasury, was asked about the Government's fixed price for gold ($35 an ounce), he declared: "I want to keep every option open." Kennedy really meant to avoid any policy statement at all. But his remark immediately set off a flurry of speculation that the gold price might be raised (see BUSINESS...
Measured in Gold. If and when an overall currency revision comes, the German mark, now the world's strongest currency, might well be raised in value by 5% or possibly 10%. Other strong currencies-the Italian lira, Dutch guilder and Swiss franc-could be raised somewhat less. The pound and the French franc might be devalued by 5% or so. Other currencies would move up or down, or hold their existing parity against the dollar, according to their relative strength...
...rate of four marks to the U.S. dollar, top German officials consider that the dollar is more overvalued than the mark is undervalued. Still, the mechanics of the monetary system weigh strongly against any devaluation of the dollar. The price of the dollar is measured only against that of gold: $35 per ounce. Other currencies are valued in terms of dollars...
These exchange rates can be altered without disrupting the dollar-gold relationship, which underpins the whole system. Moreover, the dollar remains strong in world money markets despite U.S. price inflation...
...book is marred, too, by an overwrought style and an unbecomingly snide use of irony. Manchester is not fond of the Germans, and he caricatures them either as superefficient and slavishly obedient or as a folk barely removed from dwarfs and dragons, blood feuds and bags of tainted gold...