Word: marketed
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...knows the extent of Straw's maneuvers, largely because other dealers, perhaps fearful of disclosing their losses, have not filed court actions. But what has emerged so far seems to point to a confidence game played in a market where thousands ride on a handshake and a reliable reputation. Says Robert Petersen of the Petersen Galleries: "I was told that Straw's father was famous and that Steven Straw knew all the important people. We looked on him as a key source...
Inevitably, this produced a certain pragmatism. He could speak eloquently about the advantages of increased commerce with the United States, though he never failed to claim that he was doing us the greater favor by opening up the Soviet market to our exports. But outside the economic area, Kosygin struck me as orthodox if not rigid. It seemed almost as if he compensated for managerial pragmatism by the strictest piety on ideological matters...
Though some compute the value of their hoards at less than market prices, any rise in those prices does lift the amount of a nation's reserves. Says Economist Robert Triffin, an international monetary expert: "Central banks now hold on their books assets that are ten times as valuable as they were in 1969. They can theoretically use these assets." In effect, wealth can be created out of nothing: the gold can either be sold to cover trade deficits or borrowed against...
...Jimmy Carter and the threat of a challenge from Edward Kennedy. Some European dealers are calling the gold surge a "Kennedy rally" because it has been spurred by expectations that his free-spending, liberal policies might exacerbate U.S. inflation if he were elected. In the thin, highly volatile market, that distant worry is enough for a big rise...
Even the CIA claims that it has no idea who is running up prices, and the market itself abounds with rumors. Last week's scuttlebutt had it that a single Saudi investor was looking to buy a ton of gold worth about $12 million, and the market was being dominated by just a few large purchasers-including one unidentified German buyer and an unknown Canadian industrialist. About all that is certain is that small investors are now joining in the gold action...