Word: stanchly
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Dates: during 1960-1969
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...crisis. Convinced that a new socialist government would raise the value of the mark, speculators clamored to buy German money. In just 90 minutes of trading on the morning after the election, $250 million poured into the Bundesbank from abroad. The outgoing Kiesinger government was in no position to stanch the flow by making the mark more expensive; that is the sort of basic decision traditionally left to the new government. Instead, the Bundesbank freed the mark to be traded at just about any price that buyers were willing to pay. The IMF cooperated by ignoring the rule that governments...
...defend the franc in lieu of devaluation. He could apply many of the same remedies that British Chancellor of the Exchequer Roy Jenkins had imposed last week on Britain. He could reduce government spending still further, raise taxes and institute currency and trade controls in an attempt to stanch the outflow of francs...
...doctor's office or an out-patient clinic. One of the first and most grateful beneficiaries of the new treatment system is David M. Raatz, a California attorney who lives in Monrovia and practices in San Marino. At 26, Raatz has had gallons of plasma and concentrates to stanch the bleeding that recurs most commonly in his ankles, knees and elbows. He never used to know when he would be able to appear in court when a case was called; at best, he might have to hobble in on crutches...
Promise of Compensation. Britain's hopes for an economic turnaround were further buoyed by its new financing arrangements. Purpose of the ten-year credit package was to stanch flight from the pound by countries in the so-called "sterling area," which consists of all British dependencies and Commonwealth members (except Canada), plus such other countries as Kuwait, Jordan, Libya and Ireland. Because they hold the bulk of their reserves in pounds, most sterling-area members suffered automatic losses when the pound was devalued-and a number of them have lately been selling off large amounts of sterling...
...trade and investment, is pegged to that of gold. But most non-Communist currencies are measured against the value of the dollar. Thus any change in the dollar price for bullion would upset the value of every other currency, risking global monetary chaos. Still, if the U.S. fails to stanch its decade-long balance of payments hemorrhage, sooner or later it will own too little gold to defend the $35-an-oz. price...