Word: greenbackers
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...buyers to pay out more francs, pounds or yen to buy American wheat, corn or soybeans. The muscle-bound dollar is primarily an ironic consequence of gargantuan U.S. budget deficits, which keep American interest rates high and entice foreign investors to convert their currencies into dollars, bidding up the greenback's price, in order to pour money into American investments...
...what his opponents called "election economics" by cutting excise taxes and import duties on foreign items like autos and color TVs. The Begin government then tried to ease the pain of inflation by broadening indexation and encouraging spending. Losing confidence in the shekel, Israelis increasingly turned to the American greenback. "Our national currency is now the dollar," Ezer Weizman, Begin's former Defense Minister, who is now heading his own ticket, charged last week. "This is a disgrace...
...dollar has been on an upward vector against nearly all the world's major currencies for a full two years, confounding predictions of bankers, businessmen and economists alike. They fully expected the greenback to begin weakening this year as interest rates fell, because much of its strength derives from the massive inflow of foreign capital attracted by the high returns on U.S. investments. Instead, the dollar has kept getting stronger, largely because inflation has been declining so rapidly in the U.S. and returns are still high compared with those in other countries, where interest rates have also dropped...
Showing little confidence in the new budget, investors drove stock values on the Toronto Exchange down 44.36 points. The Canadian dollar briefly dipped to an alltime low of 76.80 against the U.S. greenback. Union leaders representing Canada's public servants vowed to fight the new wage guidelines. When Trudeau summoned the premiers of Canada's ten provinces to Ottawa in a bid to sell them his economic plan, they responded by saying they would think about...
...Greenback has had precisely that effect. The dealers have found a number of ways to move large amounts of money while avoiding detection by the feds. By this "laundering" process, ill-gotten gains are made to look like legitimate business receipts...