Word: moneymen
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Dates: during 1960-1969
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...which they are put. Thus the expatriate dollars are extraordinarily sensitive to the gyrations of monetary supply and demand. They race across national boundaries in response to tiny changes in interest rates, and their existence complicates government efforts to curb currency speculation. It is hardly surprising that European moneymen have come to regard the Eurodollar as a genie that has somehow escaped from its bottle...
...wage increases and devaluation. He told his cabinet that the wage settlement offer last May was "probably too much. But what has been done is done. In any event, there is no question of going any further." Despite De Gaulle's stubborn determination, a large number of European moneymen regard as inevitable a 10% to 15% devaluation of the franc before the end of the year...
...prelude to President Nixon's forthcoming trip, a team of top U.S. moneymen traveled to Europe last week for the new Administration's first formal contacts with European economic officials. At the week-long meetings in Paris of the 22-nation Organization for European Cooperation and Development, the delegation earned high marks and persuaded even the skeptics that the U.S. economy is in good hands. The Europeans wanted some indication of U.S. determination to handle its No. 1 economic problem: inflation. The Americans did not disappoint them. "If we have one objective, it is to try to cool...
...fastest-growing major crime in the U.S. is not murder, rape or mayhem. It is bank robbery, an increasing frustration for the nation's moneymen. The problem extends from Washington, D.C., where a bank 100 yards from the White House grounds was looted last December, to North Hollywood, Calif., where one bank was recently hit twice in the same day. Last year U.S. banks reported 1,840 robberies, four times the number in 1960. The average bank robber is a lone amateur in his mid-30s. He has an 86% chance of fleeing the bank, but the FBI says...
...other half at a higher price on the free market. At the same time, the world's monetary authorities would put a floor under the gold price by agreeing to buy South Africa's bullion if and when the free-market price ever falls below $35. Continental moneymen are increasingly convinced that the Nixon Administration will accept such a deal. Once again, in 1969, the fraternity of central bankers will probably have to use inspired improvisations to keep the world's monetary mechanism operating...