Word: moneys
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Dates: during 1970-1979
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...bank, which has finally figured out what went wrong, is threatening to sue for the money's return. Cochran still holds the cash hostage. "I'm working," he says, "on some new demands...
Quality sells partly because so many women have gained paying jobs. Out in the working world, earning their own money, they have become more discerning, demanding shoppers. Another major factor is that many consumers are moving into a group that Stephen Frankfurt, director of creative planning for Kenyon & Eckhardt, has labeled the "maturity market." They are the folks in the 34% of U.S. households that are headed by adults aged 45 to 64. They have the highest family income in the nation. More important, they have worked hard for their wealth and do not want to waste it on tinsel...
Fear and uncertainty shook the money markets as petrobrinkmanship spread further than ever into the nervous realm of high finance. While Iranian officials openly delighted in the chaos they were creating, the acting Finance and Foreign Minister threatened to renege on his government's debts to foreign banks and other creditors the world over. Renouncing previous pledges of payment, Abol Hassan Banisadr declared: "We will not pay back these debts. How can we repay loans that former plunderers received from their foreign accomplices and put back into the accomplices' banks?" He put the debts at "$15 billion, possibly...
Whether or not the roundhouse threat was genuine, the danger was that OPEC'S big depositors would grow wary about the stability of the world's banking system, perhaps even calling into question the value of money itself. A number of OPEC nations might even decide that it was wiser to keep oil in the ground instead of pumping up so much of it in exchange for mere paper. At the moment that Banisadr was posturing, U.S. Treasury Secretary G. William Miller was jetting to Saudi Arabia, to try to persuade Persian Gulf leaders not to cut their...
...drop in U.S. oil use should have given the dollar a needed boost on money markets. But the greenback twitched indecisively as traders remained mesmerized by the theatrics of the Iranian drama. Since the freezing of Iran's money in U.S. banks, some of the counterthreats from Tehran have been plainly bluster. "We have the dollar by the throat," chortled Banisadr. Not quite. Though the National Iranian Oil Co. announced that it no longer will accept dollars for oil, Iran needs the U.S. currency to pay for imports of everything from Australian wheat to Japanese machinery, which...