Word: markings
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
When the money men assembled in the barracks-style structure that houses the West German Economics Ministry, Schiller wasted little time in making clear his opposition to the revaluation of the mark. As the meeting dragged on into evening, tempers began to flare. "They did everything except throw chairs at each other," said one participant. Bitter exchanges broke out between the world's leading monetary managers. According to one report, Britain's Chancellor of the Exchequer lectured the West German Finance Minister "as if he were a member of the Conservative Opposition." Jenkins himself was heckled outside...
...point in the proceedings, Schiller snapped at the U.S.'s Fowler: "Let us be clear that the mark is not undervalued, but that the dollar is overvalued." Fowler replied with an extraordinary paean: "Gold is the sun," he said, "and the dollar is the earth. The earth revolves around the sun and the relationship doesn't change." Retorted Schiller: "Then I guess we're all just little satellites launched from Cape Kennedy." After Jenkins and Fowler had characterized the German trade tax concessions as inadequate, Schiller declared, "If the lopping off of one third of our export...
...comparing the Federal Republic to France and Britain: "If we went on strikes and took breaks as often as the others, we too would have to go out and borrow, the only question being: From whom? If we had so suicidal a trade union system as the British, our mark would be just as tuberculous as the pound. If we had as many unsolved social problems as the French, then we would have as much unrest and -as in May in Paris-a ruinous rebellion...
Moreover, the French economy is essentially sound. In food and industrial resources, France is largely self-sufficient. It is not yet in real balance of payments difficulties. The crisis of the franc was primarily created by the lure of volatile capital funds into the mark by speculators who believed it was about to be revalued. In strict and narrow economic terms, France does not need a devaluation...
...more money, the less virtue," Schopenhauer argued that "money alone is absolutely good" and Samuel Johnson declared: "There are few ways in which a man can be more innocently employed than in getting money." The New Testament holds that love of money is the root of all evil, but Mark Twain reversed that adage into "lack of money is the root of all evil." Socrates said: "Virtue does not come from money, but from virtue comes money." Gertrude Stein remarked: "As a cousin of mine once said about money, money is always there but the pockets change...