Word: riskless
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Dates: during 1970-1979
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Free Float. Currency trading was a relatively riskless operation during the long era when values of major currencies were fixed. But now that they are free to float up and down in response to supply and demand, trading has become chancy indeed. Herstatt apparently contracted to deliver huge quantities of U.S. dollars and other currencies to corporate customers on fixed future dates at highly speculative prices...
Saul Bellow, D. Litt., author. Henry Ford II, LL.D., chairman, Ford Motor Co. In an age when many industrialists look for the riskless course and too many business spokesmen are puppets of their public relations staff, you have remained a thoroughly authentic outspoken man. Piet Hein, L.H.D., Danish scientist and philosopher who invented the Soma Cube, and the "grook...