Word: redeposit
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
There are, in any event, substantial doubts that a trade embargo would have much effect on Iran's economy. Tehran takes in about $90 million a day from oil exports. For help in handling these transactions, Iran has lately turned to banks in Algeria and Libya, which immediately redeposit the money in European banks. Says a Tehran banker: "There is no shortage of brotherly Third World countries willing to help Iran." In addition, some Eastern European countries, including Rumania and Yugoslavia, have offered to act as Iran's middlemen for purchases of machinery and spare parts. Promised Yugoslav...
...increases the bank's deposits (i. e. liabilities) by $10,000, and its assets are equally increased by the businessman's note. Writing checks on the new $10,000 account does not destroy the credit that has been created, for the people who receive the checks will redeposit them. And the credit remains outstanding until the loan is paid...
Even on March 8 (before gold-heavy U. S. citizens, corporations and banks began their spectacular rush to redeposit the metal with the Federal Reserve last week) every U. S. Federal Reserve note still more than had its legal gold cover of 40%. With gold flooding in. U. S. citizens could still read with pride (though not for the moment with purpose) the words engraved on each Federal Reserve note: "Redeemable In Gold On Demand At The United States Treasury, Or In Gold Or Lawful Money At Any Federal Reserve Bank...
Promptly the Mayor of Brescia informed the citizens. Instantly the run stopped. All the rest of that day depositors who had withdrawn their money stood in line to redeposit...
According to last week's best judgment, the currency club would start swinging just enough to produce the necessary psychological momentum. Hoarders would redeposit their cash; banks would breathe easier; the demand for Federal Reserve loans would diminish; the machinery of normal banking would pick up speed by itself; the currency club, having served its initial purpose, would go back on the shelf...