Word: goldings
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Dates: during 1970-1979
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...full point to a record 9.5%, the sharpest jump in 45 years; 2) reducing by $3 billion the funds that U.S. banks have available to lend; 3) amassing $30 billion in foreign currencies, nearly all borrowed, to support dollar prices on foreign exchanges; 4) greatly increasing U.S. sales of gold...
...speculators who had been dumping dollars in the conviction that Washington would do nothing much to stop the slide scrambled to buy back bucks. In chaotic trading on Wednesday, the dollar rose 5% against the Japanese yen, 7% against the West German mark and 7.5% against the Swiss franc. Gold, which speculators buy when the dollar is sick and sell when they think it may recover, fell a startling $23 an ounce by the end of the week...
...those who sold dollars regarded the sales as a can't-lose bet. Their thinking: So what if the dollar is undervalued? It will probably go down some more, and Washington won't buy dollars to prop up the price. Get out of dollars and buy yen, marks, gold, anything...
Many students object to the naming of the public affairs library for Engelhard because he was a mining magnate who made his fortune with profits from South African gold mines manned by black laborers...
...visiting Nieman Fellow said that Harvard should "absolutely" return the money given to the Kennedy School by the Engelhard Foundation, whose fortune comes from the South African gold mines. Referring to Charles Engelhard and "others like him," Woods said, "The wealth of South Africa was skimmed off by people who exploited...