Word: yen
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...other hand, some strong forces are working to keep the inflationary fever burning. Round the world, a growing number of jittery investors have lost confidence in the value of paper money and are rushing to get rid of their cheapening dollars, pounds, francs and yen by buying things that they feel have solid and tangible value: land, art, antiques, farm commodities, metals. The most dramatic consequence has been an incredible rise in the price of gold from $89.25 an ounce as recently as a year ago to a February high of $178. That increase and rising prices of paintings...
...past three years Matsushita has been forced to hike U.S. prices on its Panasonic products as much as 15% because of increases in the value of the Japanese yen on world money markets...
Similar price raises on Quasar sets made in the U.S. will be unnecessary, whatever happens to the yen. Motorola Chairman Robert W. Galvin says that Matsushita will be able to put more money, effort and energy into the TV business than Motorola could have, and adds: "It will be able to turn our people on as a new coach does...
...other products, would rank about fifth among U.S. chemical companies. If Exxon merely transported oil, it would be the world's biggest shipping firm, with 155 tankers of its own and varying numbers under charter at sea. In finance it is a substantial international banker, holding fortunes in marks, yen, francs, pounds and dollars...
Mysterious Allusion. Painting, therefore, was a more natural extension of thought for the Chinese than it is for us, and its special value lay in a harmonious spontaneity: knowledge without spadework. A 9th century scholar, Chang Yen-Yuan, described this ideal...