Word: tiere
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...arrested. Of course the possibility exists that I am here to precipitate some change at the University. I am willing to accept the latter as true, or, rather, I am willing, even anxious, not to think about it any more. If you think too much on the second tier (think about why you are thinking what you think) you can be paralyzed...
...tier system of gold prices last week withstood the first important test of its ability to survive...
...industrial nations revised a key part of the world's monetary rules. They agreed to stop buying and selling gold, and to use their remaining store of the precious metal only to settle debts between nations. Thus out of their hastily called weekend meeting was born a two-tier pricing system for gold. For central-bank exchanges of gold and dollars, the familiar $35-per-oz. price continues. For speculators, hoarders and industrial users, the price was freed to find its own level in the world's marketplaces...
...slightly different tune from the Red band. He called the present international monetary system "inequitable" and "henceforth inapplicable." Its continuance, he maintained, would "condemn the free world to grave economic, social and political trials." De Gaulle's attitude was understandable. By committing themselves in Washington to the two-tier gold system, the five other members of the Common Market had handed France a remarkable rebuff. They not only flouted their partner's wishes, but did so without consultation...
...tier system, like the foundering Gold Pool, would be used as merely a short-term solution to the gold drain. Before long the central bankers hope to implement the idea of special drawing 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...