Word: money
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...call two weeks ago for "new approaches" to international monetary problems. It was only an offhand remark, but French speculators misinterpreted it as a sign that Nixon might favor a rise in the price of gold or some basic revamping of currency values. When the President discusses money matters in Europe this week, he will find that many financial leaders fear that the speculators will open a new "spring offensive" that could upset currencies in the months ahead...
...West German mark and the weak French franc, has not been lastingly removed. The tight corset of exchange controls is all that is holding the franc up. Though the controls have impeded any further outflow of francs from France, Paris has failed to lure back the bulk of hot money that it had previously lost. In Europe, the skepticism about France's chances of avoiding devaluation is widespread...
...more than $200 million a month. Psychology could cause even more havoc than economics. Frenchmen traditionally mistrust their own currency, and they have been spending francs rather than holding them, thus aggravating inflation. As a hedge against devaluation, they are converting francs not only into gold but also into "money substitutes" such as real estate, furs and fine wines. A recent poll showed that 45% of all Frenchmen expect a franc devaluation sometime this year...
...might become more cooperative on economic affairs is one reason that President Nixon seeks to improve U.S. relations with France. The Administration's anti-inflationary drive at home has helped to harden the dollar on world markets. One result is that Nixon will speak from strength in any money talks in Europe. While showing little interest in a gold price increase or other radical monetary reforms, Washington is pressing for the activation of the International Monetary Fund's "special drawing rights" as the best immediate way to expand the monetary reserves needed to finance world commerce. The SDKs...
Psychological Need. In Seattle, more and more Negroes who previously did not believe in depositing money in any bank are putting their trust in Liberty Bank, which opened last May. Within the first 70 days, deposits reached $1,000,000; they had more than doubled by Dec. 31. Liberty's vice president, James I. Burton, 46, an engineer by training, says: "The bank has given pride and impetus to the black community. I think it demonstrates that the Negro doesn't want everything handed...