Published May 22, 1971
"O.K. The forward rate for marks rose in March and April, combined with a sharp increase in German reserves and heavy borrowing in the Eurodollar market, while United States liquid reserves had dropped to fourteen billion dollars, causing speculation that the mark might rise and encouraging conversion on a large scale. Now do you understand?"
Man attempting to explain current fiscal situation to his wife, as they sit with cocktails in the living room.
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