Word: pricing
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Dates: during 1960-1969
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...gold-backed U.S. dollar faced a rush of gold-buying speculators who figured that the free world's key currency was next. Last week, well after the gold rush had subsided, President Johnson saw victory. "The speculative attack on the system," he said, "was decisively repelled." The price? "A relatively small cost in reserves...
...million went to cover the U.S. commitment to the seven-nation international gold pool in London. Meeting secretly at the Bundesbank in Frankfurt when Britain devalued, the pool governors determined to continue sales of gold at $35 an ounce in order to thwart speculators who bought in hopes the price would rise-which would, in effect, devalue the U.S. dollar. The big payment by the U.S., which has a 59% share in the pool, by no means represented the total cost of the defense. Britain, West Germany, Italy, Switzerland, Belgium and The Netherlands, who hold the remaining 41%, also contributed...
...Association of Manufacturers meeting in Manhattan that the sterling crisis only showed that "the dollar is at bay." Before long, he warned, rising inflation, the "virtually out of control" budget deficits and the deepening balance-of-payments problem might force the U.S. to devalue by raising the $35 gold price, which it has maintained since...
...would disagree with Moore that the nation's fiscal problems need attention. Yet the point at which the U.S. can no longer defend the price of gold -and thus the dollar-hardly seems near. Although the U.S.'s gold supply has fallen far from its $24.6 billion peak of 1949, the nation's gold pool partners and its creditors throughout the world are not at all anxious to bring down the present monetary system by drawing out the remaining U.S. supply. And Congress, as Moore urges, may soon expand the available supply by ending the requirement that...
Meanwhile, the airlines have watched the Concorde price tag rise from the original estimate of $7,000,000 to $21 million per plane, including spare parts. Option signers have deposited about $300,000 for future delivery...