Word: outflow
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...circles that the U.S. dollar is weakening, is perhaps headed for eventual devaluation. The European bankers are concerned about the unfavorable U.S. balance of trade and about the possibility of a U.S. recession, which they feel would sharply lower interest rates and cause a further rise in U.S. gold outflow (U.S. gold stocks dipped another $33 million-to an $875 million total dip since January-in the last reported week). The bankers were also reported anticipating and fearing a Kennedy victory, and concluding that his policies might lead to inflation and to devaluing the dollar (a suspicion that Kennedy...
...Central banks could have prevented the sharp gold rise by selling enough gold to fatten the thin market, since transactions in London amounted to only $25 million daily. But that would have meant purchasing gold from the U.S. Treasury to cover the sales, and thus worsening the U.S. gold outflow -a step the U.S. did not encourage. Some Swiss bankers criticized the U.S. Treasury for lacking the courage to stop the price rise, felt that Treasury could have saved the situation quickly by the dramatic gesture of sending U.S.-held gold to Europe to loosen the tight market. But Treasury...
Thus, this country's deficit is due largely to the outflow of short-term funds, attracted by Europe's high interest rates, and to private U.S. investment abroad, he reasoned...
...GOLD OUTFLOW continues to increase alarmingly. Treasury reported $181 million went abroad v. $50 million in previous week. The one week's loss was greater than for all the first six months of 1960, and the biggest weekly commercial loss since Depression...
...rates-the costs of financing shipments and storage of goods-have already eased. Many short-term Government securities are held by foreign investors, and the drop in interest rates may encourage them to seek higher rates elsewhere in the world, cause a drain on U.S. gold reserves. The gold outflow has picked up speed in recent weeks, now totals some $384 million this year. But this is a healthy improvement over this time last year when the U.S. had lost nearly $1 billion in gold. Treasury officials are confident that easier credit will not cause much gold trouble...