Word: trader
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Chief target: alert, 46-year-old Joaquim Rolla, who controls a healthy chunk of the $300-million-a-year casino business. In 15 years, Rolla jumped from an unlettered horse trader to operator of six booming gambling palaces. He got such a name for efficiency that ex-President Getulio Vargas once asked him to run Brazil's $90-million steel plant (now abuilding). Rolla declined, preferring to build, near the summer capital of Petropolis, the ultimate in hotel-resort-casinos, $10-million, castle-like Quitandinha, where Brazil's inflation-rich flip colored chips onto the felt and frolic...
...zloty, but recently a dollar would bring as much as 600 zlotys in Stettin. Greece's official value of about 500 drachmas to the dollar is far below the black-market price, which was steadily rising. China's currency is so wildly erratic that no wise trader will accept...
Chief Abstainer. Whatever the difficulties or doubts of its members, Bretton Woods was now officially in operation-though it would not be ready to do business for about five months. The failure of Russia (which is not a big world trader) to ratify within the time limit was regretted in Washington and London as an unfortunate sign of noncooperation, but no one thought that it would make much difference. The Fund has little usefulness for a totalitarian economy; its object is to make private trade possible...
Umpire Needed. At this point, many a trader was inclined to keep his fingers crossed. The first taste of the new rules, the revised Chinese corporation laws, had shocked U.S. businessmen. The trouble about the laws, scheduled to go into effect on Jan. 1, was their ambiguous definition of a "foreign" company...
...locomotives, FLC had sold only a microscopic $18 million in cash. UNRRA had been the best customer, because UNRRA could draw against the $150 million contribution which the U.S. has made in surplus to UNRRA. But in a desperately needy world there were few other buyers. Why? Yankee Trader. Chief trouble had been FLC's notion that it should sell surpluses to foreign governments only for dollars. This policy flopped because foreign governments either 1) have no dollars at all, or 2) none to spare. Nor did the policy make sense to U.S. businessmen. For every dollar FLC drained...