Word: triffin
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Dates: during 1960-1969
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...detachment of journalists, who filled every seat, sprawled in the aisles and stood pressed tightly together in the rear. They exchanged loud jokes with Lecturer Giscard. When he mentioned Rueff, they blended boos with applause. They cheered enthusiastically when he spoke in passing of Yale's Robert Triffin, a leading exponent of building on the current monetary system of gold, dollars and pounds...
...great majority of economists and financiers also reject the idea of an increase in the price of gold-in effect, devaluation of all the world's currencies. Says Yale's Robert Triffin, a ranking gold expert: "It would help unfriendly nations and hurt our friends, and lead to the collapse of international monetary cooperation." The biggest gold producers, South Africa and Russia, would be helped; their gold would immediately become worth two or three times what it is now. The countries that have helped the U.S. by holding large amounts of dollars in reserve would be hurt, especially...
...expanding amount of world trade. How Can the System Be Improved? There is rising support for creating a new international money. More than a dozen separate plans, differing widely in details, have been suggested by such men as International Monetary Fund Chief Pierre-Paul Schweitzer and U.S. Economist Robert Triffin. Some of them would give the IMF power to create money and credit, somewhat as Lord Keynes suggested a generation ago. Others would create a pool of money from the world's dozen richest nations, to which each would contribute according to its wealth, thus sharing in both...
...military forces spend $200 million, U.S. tourists leave behind $300 million and U.S. businessmen invest well over $1 billion. After subtracting for its imports from the U.S., France runs up an annual dollar surplus of $700 million, for which it can demand U.S. gold. Says Yale Economist Robert Triffin, one of the world's top gold authorities: "One of the two strongest bargaining weapons that France has to use against the U.S. is its dollar reserve-and the other is its atomic threat...
...importance of economic advisers has also grown with the proliferation of common markets, payments unions, development banks and monetary funds-most of which the economists devised, either wholly or in part. Yale's Belgium-born Robert Triffin was the architect of the European Payments Union that abolished strict currency controls; now he is pushing the controversial "Triffin Plan" that would link nations through a world central bank and a single world currency. France's Robert Marjolin, first vice president of the Common Market, is also pressing for the "Marjolin Plan" that would unite nearly...