Word: telexing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Faster than a speeding dollar. More powerful than a Krugerrand. Able to leap national boundaries with a single telex message. Look! In all the banks! It's a mark. It's a franc. No, it's supermoney...
...companies in Europe, U.S. bankers and businessmen recognized a promising new source of capital. The lending of hard foreign currencies soon spread out from London. Among the first to handle such loans was the Soviet-owned Banque Commerciale pour I'Europe du Nord in Paris, which has the telex address "Eurbank." The offshore dollars thus were first called Eurobank dollars and then simply Eurodollars...
...dollar is such a large part of the system, the instability can drive down the value of the buck. Private bankers and corporate finance officers can wildly exaggerate any currency's weakness and cause its value to plummet as they unload billions of uncontrolled Eurodollars with a few telex messages...
...latest turmoil in the gold and currency markets shook the Belgrade meeting like an Adriatic earthquake. The moneymen hovered over telex machines to catch the latest gold fixings and dollar-mark exchange rates, and swapped anxious rumors. Inter-continental Arab finance ministers ducked quietly into Bill Miller's first-floor suite at the Inter-continental Hotel to get his assurances that the dollar would be defended. Reported TIME Correspondent Friedel Ungeheuer: "An undercurrent of fear and confusion about what has been happening on the money markets ran through the corridors of the modern Sava Center, where the I.M.F. sessions...
...green and yellow markings; rectangular tags with purple and brown markings; diamond-shape tags with yellow and white markings--the Pontiff's colors. Cameras and tape-recorders and typewriters--more than 100 of them lined up like altar boys on about 20 tables in the makeshift filing center--and telex machines. Long-distance and local phones, lots of them, with quadralingual dialing instructions posted strategically. People are chatting in English, Italian, German and Latin. The guy at the front of the room, is telling everybody that "the shepherd has come to see his flock...