Word: money
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Dates: during 1950-1959
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...profits. The British government paid little attention to the raiders until the stocks controlled by one of the biggest, H. Jasper & Co., collapsed, and trading of the shares in 15 Jasper companies was stopped. Last week the British government launched a full-scale investigation into where Jasper got his money and how he built his empire...
...Horn of Plenty. In the midst of Britain's increasing credit squeeze, Jasper's supply of money seemed endless. It turned out that recently most of the cash came from the State Building Society, a publicly owned savings-and-loan association supported by small depositors and designed to help people buy their own homes. Its motto: The Horn of Plenty. The horn was easily tapped by Jasper & Co. through Grunwald, who was also a lawyer representing State Building; he arranged for the Society to lend to Jasper on mortgages. All told, it lent Jasper $21.2 million...
Talk about a change takes two forms. One is that the U.S. should junk its present managed-money system (in which gold is used only as a currency reserve and to settle international accounts) and return to the fully convertible gold standard, abandoned in 1933, under which dollars could be exchanged for gold coins. The other-usually joined with the first-is that the U.S. should double or triple the present gold price of $35 an ounce, thus devaluing the dollar and in effect automatically increasing the monetary value of the official gold holdings of the free world...
...return to the gold standard would probably have to be accompanied by a price hike in gold to provide more adequate backing for the vast expansion of money and credit in the last few decades. Some economists who do not advocate a return to the gold standard nonetheless want a price hike. They argue that the U.S. has artificially kept gold at a fixed price since 1934, while the prices of the world's goods and services have more than doubled, and that not enough gold has been produced to keep up with the world's economic strides...
...made $3,500 by shrewd cattle dealing. For a year and a half he attended Waco's Baylor University and Abilene's Simmons College, left after telling friends that he saw no reason to spend his time in the library when there was so much money to be made on the outside. He served a three-year apprenticeship in the oil business as salesman, scout and leaseman, left the oilfields to return to his first love, cattle raising. His herd died of tick fever, putting him $6,000 in debt to the Athens bank. After another hitch...