Word: hoarded
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Dates: during 1960-1969
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...supply of silver and is also a big hoarder of the metal. Last week the Mexicans, acting to hold the price at $1.13, were cautiously selling from their reserves. They were fearful that if the price went much higher, Red China might start dumping its reputedly large hoard and thereby crack the market...
Wonderland Economics. The general slowdown is making for some unfamiliar strains in the payments balances of many countries. Europe's huge hoard of gold and dollar reserves is dropping. West Germany recently moved from a fat surplus to a small deficit in international payments, and the surpluses of Belgium and Switzerland are declining. And in a time when everyone talks of expanding markets, Japan has clamped on import controls and Canada has raised many of its tariffs from 5% to 15% in an attempt to bolster its sagging dollar. It seemed that almost all countries were attempting to improve...
...scandalous U.S. farm hoard has a fat and sloppy cousin in the stockpiling program, which has gorged itself with $8.7 billion worth of war-emergency materials. This is more than twice as much as the Pentagon believes the U.S. needs for a three-year war. An investigation of stockpiling by a Senate Armed Services subcommittee has indicated that efforts to cut the surplus were blocked by Government agencies, pressure from industry, and downright inefficiency. Last week the subcommittee was told a tale, involving both the Eisenhower and Kennedy Administrations, of four metals...
...Government to purchase an additional 760,000 tons at prices above the market-which cost some $200 million-and made the purchases without the customary competitive bidding. The purpose of the purchases, testified Felix E. Wormser, former Assistant Secretary of the Interior for Mineral Resources, was not to hoard critical and scarce materials-the goal of the stockpiling program-but to shore up production and prices in the troubled minerals industry. Wormser, who came to the Government from his job as vice president of St. Joseph Lead Co. (40% of U.S. lead production) and later returned to it, testified that...
piled up as a result of the movement of capital out of Europe inspired by World War II. But the hoard is dwindling fast because the U.S., since the war. has spent, lent and invested more abroad than it has taken in. Despite a healthy trade surplus, the U.S. has pumped so much into postwar foreign aid and military spending overseas (total: more than $100 billion) that its balance of payments has run a net deficit of $20 billion over the past decade. Fort Knox has onlv $4.7 billion left to go before it breaks through the $11.7 billion floor...