Word: redeemability
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...recognition of the importance of sex in interracial strife, vignettes of the lives of blacks in cities, descriptions of the biases in law enforcement agencies and in courts all redeem many of the shortcomings of this book. But the inherent structural difficulties cannot be overcome...
Fear & Faith. The international monetary system-the agreed way of exchanging one currency for another-runs on faith. For 24 years, the bulwark of that system has been the U.S. Treasury's pledge to redeem dollars held by foreign governments for gold, at an unchanging $35 per oz. Other countries value their own money in terms of dollars, usually keep a big part of their reserves in dollars. After World War II, as other nations gradually followed the U.S. into currency convertibility and trade liberalization, those relationships helped build an enormous, dollar-based world market. Foreigners were delighted...
...rights that could be used as reserves along with gold and dollars. The S.D.R.s would be certificates representing members' credits in the International Monetary Fund. They would make it less necessary for other governments to hold so many dollars in reserve-and less burdensome for the U.S. to redeem these dollars with gold...
...great many flabby, middle-aged Americans. And how have they reacted? They are skipping rope in a gym class, jogging around the reservoir, pedaling a pinioned and wheelless bicycle, flailing arms before the bedroom mirror, doing push-ups on the office floor-in a tenth-hour campaign to redeem years of reprehensible physical neglect...
...January 21, President Pusey emerged from his den in Massachusetts Hall to blast those "overeager young" student protesters "who feel they have a special calling to redeem society." Harvard students do not often hear from their President, and their reaction to this diatribe may have convinced him to resume hibernation. Harvard's era of dissaffection is far from spent, and Pusey's remarks will do little to hasten its demise...