Word: yen
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Attorney's office came after ISC again last year. Officials of a petroleum-trading subsidiary called Yen-Fuel were indicted on several counts of fraudulently importing oil into the U.S. as part of the "daisy-chain" swindles that involved several small oil firms...
Since oil sales are priced in dollars, strong-currency countries like Japan and West Germany can afford to pay the high costs. The declining value of the dollar has made oil relatively cheaper in yen or marks than it was only a few years ago. If other OPEC countries now decide to follow Iran's lead, even going so far as to break existing contracts with oil companies, the dollar price of a barrel of crude could surge to unimagined heights...
Abundantly forewarned, the Vietnamese let regional border forces and local village militia take the brunt of the initial attack. An estimated three to five regular divisions (at least 30,000 troops) were held back. They were apparently arrayed in a crescent-shaped defense line that stretched from Yen Bai on the Red River in the west to Quang Yen on the east coast. Their mission: to defend the coastal plain surrounding Hanoi and Haiphong, and wait for the Chinese to show their hand...
Until recently, gold was only one of several beneficiaries of the global flight from the dollar. Investors also chased after the "hard currencies" that were not being debauched by inflation, especially the Swiss franc, the mark and the yen. As the dollar plunged, these currencies rose along with the value of gold. That is now beginning to change as more investors conclude that ultimately no industrial nation can withstand inflation and energy-related shocks. Says Guy Field, a London gold dealer: "Last year the high price of gold reflected the decline of the dollar on exchange markets. But gold...
...dollar spurs more inflation. Treasury Under Secretary Anthony Solomon, with Blumenthal's support, argued against doing anything to prop the dollar until its rout had degenerated into a panic-by which time the greenback had sunk 18% against the German mark and 26% against both the yen and Swiss franc. Reports TIME Washington Economic Correspondent George Taber. "The U.S. this year paid a heavy price to learn something about world money markets. One of the tragedies is that there was nobody in the Treasury Department with any firsthand experience of how the markets worked-and the markets knew that...