Word: markets
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
Kennedy manipulated stocks and securities with a shrewdness close to genius. He sensed disaster approaching in 1929 and well extricated himself from the stock market before the crash. He made at least $1,000,000 by selling short when the panic came. "Only a fool," he told a friend, "holds out for the top dollar." Foreseeing the end of Prohibition, he cornered the franchise for Gordon's gin and several Scotch whiskies, imported thousands of cases "for medicinal purposes." When repeal came, Kennedy warehouses were bulging and ready for business...
...particularly uncomfortable position. South African mines provide 77% of the non-Communist world's gold output, but as part of a 1968 pact, central banks agreed to stop buying the metal. That strategy was intended to force South Africa to sell all its gold on the free market, thus depressing the price. South Africa tried to break the embargo but found only Portugal and some Middle East sheikdoms willing to risk the wrath of the major monetary powers by purchasing newly mined gold...
...nickel for defense use. The U.S. may be forced to look for a shiny substitute for the metal that goes into dimes and quarters and makes up 25% of the content of nickels. Thefts of nickel from private warehouses have become common. Manufacturers in civilian markets are in a constant scramble for nickel, some of them patronizing a black market and paying as much as $9 a pound. Small businessmen have taken the hardest beating; they did not have the capital to lay in large supplies before the strike. Eventually, consumers will have to pay more for carving knives, stainless...
...relations this year is that the Western nations have surmounted their currency crises and, largely as a result of the French devaluation and German revaluation, entered a new period of monetary tranquillity. The world's confidence in the value of paper money is measured by the volatile free-market price of gold: the higher the price, the greater the doubts among investors as to the worth of currencies. Since, last month's upward revaluation of the West German mark, gold has dropped abruptly. From an early October level of $41.20 an oz., the price in London sank last...
...sell some gold to the International Monetary Fund. After all, the IMF's main mission is to promote stability in the international monetary system. By allowing South Africa only a small official outlet for its metal and forcing it to make most of its sales on the private market, the U.S. obviously hopes to squeeze the private price of gold closer to the $35-an-oz. official level. So far that is just what is happening...