Word: guadenzi
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Countless thousands of foreign investors expressed their lack of confidence in Carter in more concrete form by dumping dollars and buying gold. In short, they were voting with their money. "We were waiting for an energy program, and the exchange rate reflects the absence of one," commented Leonida Guadenzi, vice president of the Milan Exchange, where the dollar fell sharply against the Italian lira. Added one Milan trader: "When Carter speaks, the dollar plummets...
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