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Every time Egypt's foreign reserves fall to a critical threshold and there is pressure on its currency, rich Gulf neighbors come to the rescue.
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Sidebars: Currency Collapse Riches to Rags Sizzling Stocks.
But in practice, the euro is the currency of the rich, northern core of Europe led by Germany.
That stock is a rich currency for expanding Incyte's capabilities.
At 21 times trailing earnings, cheaper than the market's 33, ITT's shares aren't exactly a rich currency for rolling up an industry.
At 21 times trailing earnings, cheaper than the market's 33, ITT shares aren't exactly a rich currency for rolling up an industry.
But in spite of those connections, I was beginning to wonder to myself if her spiritual currency was as rich as it once was.
The use of London housing as a "global reserve currency" for the rich, and the fact that labor follows capital, means that wages are not rising nearly as fast as the cost of living in London.
Then again, if the euro were the currency of the richer northern European economies alone, or, for that matter, if a united Germany's engineering-rich, high-export economy were still on the Deutsche mark, a Volkswagen Golf produced in Wolfsburg would be too expensive to sell competitively in either the U.S. or Asia, no matter how many robots were put on the line.
It's his instrument, his clay, his calcium-rich currency.
Even now, it will spend much of the next six months discussing how Portugal, Ireland and Greece are faring after borrowing large dollops of cash from the currency union's richer nations.
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