Word: lend
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Dates: during 1950-1959
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Kennedy's next" assignment was Newport, R.I., as instructor to a group of Russian naval officers, teaching tactics and maintenance of PT boats to be delivered under Lend-Lease. Shortly after the Normandy invasion, he was nicked in the knee by a piece of German shrapnel. The next day in Cherbourg he met Ann Newdick, a Red Cross worker whom he married two months later in Paris...
...this year's wheat and corn urpluses. He pointed out that it would be "good business" for the farmer to build more storage capacity, so that he could have the grain on hand and ready to market if the price went up. Furthermore, the Government was ready to lend 80% of the cost of the new bins built by the farmer, and would pay him 13? a bushel for storing last years corn for another year...
...Setting "reserve requirements," i.e., the proportion of cash reserves a bank is required to hold against its total deposits. The Fed can set reserves as low as 10%, on the average, which means banks can lend $10 for each $1 on deposit. Or it can hike them to 20%, on the average, which means that banks can lend only $5 for each $1 on deposit...
...could absorb most of them. This "monetized" the debt, for banks did not pay for the bonds outright. They simply created a deposit for the Government to draw checks against it. Receivers of these checks deposited them in their own bank accounts. From these increased deposits, the banks could lend about $5 for each $1 received. Thus credit, and inflation, increased, and the dollar bought less and less...
...Soviets are expanding their oil production most rapidly in the Arctic: "In the far north the Soviet air bases, the navy and the army are now independent of the rest of Russia for their oil and gasoline. Refinery equipment, which the U.S. shipped to Russia under lend-lease, is in operation . . . Production now may be as high as 3,500,000 bbls. per year. About 40% of Russia's oil comes from the Baku region in the Caucasus . . . [which, with] oil from the Ukraine and from the satellites, supplies the Red armies in the West...