Word: traded
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Dates: during 1970-1979
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...business prospered. A slim, impeccably dressed young man, he went to church every Sunday and always paid his bills on time. His obvious expertise inspired confidence. So did his gallery's handsomely printed brochures. Says one of Straw's creditors: "The art business is filled with horse-trading. Steve had the ability to horse-trade and maneuver, but he never overstepped the line of integrity. We enjoyed a lot of good years together with never a hint of trouble...
...Economist Robert Triffin, an international monetary expert: "Central banks now hold on their books assets that are ten times as valuable as they were in 1969. They can theoretically use these assets." In effect, wealth can be created out of nothing: the gold can either be sold to cover trade deficits or borrowed against...
...gold frenzy continues to weaken the buck, OPEC might again move to lift its dollar-denominated price of oil sharply. Uncertainty over just what the greenback will be worth in months ahead would slow much trade that is negotiated in dollars. Beyond that, economists disagree about whether gold itself poses any threat. Many believe, as Economist John Maynard Keynes said, that gold is just a "barbarous relic," a commodity like pork bellies that should have no more monetary impact than wampum beads. Yet in this real world, the bullion boom could ultimately prove highly inflationary...
...city is today. For almost 200 years, starting with the capture of Constantinople in 1453, the Turks had been snapping off the Venetian colonies in the eastern Mediterranean. Portuguese caravels, rounding the tip of Africa in increasing numbers, had taken away Venice's old monopoly of the spice trade. Venice was turning from an imperial power into a cultural artifact. As such, she was one of the most visited cities of Europe. For an artist, a trip to see the Bellinis and Titians was an obligatory part of his education-as necessary, if he wanted to paint murals...
...division has made. In just two years, the division has grabbed up several specialized magazines, including Los Angeles and Modern Photography, as well as Chilton Co., which publishes a score of specialty magazines. Manhattan-based Macmillan would broaden ABC's book publishing base considerably. In addition to its trade, text and reference book divisions, it owns the profitable international chain of some 200 Berlitz language schools as well as bookstores, department stores, music and film companies and the Katharine Gibbs secretarial school...