Word: triffin
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Dates: during 1970-1979
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...ROBERT TRIFFIN: "Controlling the money supply is the best way to fight a recession," says this international money expert. "Certainly, initially, if we are to brake inflation, there will be some difficult periods to go through. The sooner, the faster we do it, the less gradual approach we adopt, the better chance we have to succeed, to turn the corner. I am very encouraged that part of Volcker's approach is an attempt to deal also with the problems posed by the Eurocurrency market. He emphasized more than before the rate of money supply growth on this market, rather...
Though some compute the value of their hoards at less than market prices, any rise in those prices does lift the amount of a nation's reserves. Says 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...
Yale Professor Robert Triffin warns, however, that many foreign holders of dollars, like holders of stocks that have been going down sharply, are ready to sell any time they can get a slightly better price. Says he: "They don't want to sell at the bottom, but each time the dollar moves up a little bit there are lots of people who are just waiting to unload"-and such selling will keep any dollar rebound from going very...
...Robert Triffin of Yale University: "The new program gives convincing evidence that the U.S. will fight inflation, but recession is a serious danger. We may have to accept an interim period of this unpleasantness...
SUPPORT THE DOLLAR. Everyone from Swiss gnomes to Brooklyn cabbies agrees that the dollar is grossly undervalued. It can buy much more at home than abroad. Says Yale Economist Robert Triffin: "I used to buy all my suits in Europe because they cost half as much as in America. Now the situation is exactly reversed, and I buy my clothes...