Word: germane
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Dates: during 1970-1979
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...concluded a deal that was revealed early last week. West Germany will lend the U.S. an additional $2 billion worth of deutsche marks that Washington can use to buy up surplus dollars on the exchange markets. That doubles the Treasury's line of credit at the West German central bank in Frankfurt. In addition, the U.S. may sell $740 million worth of IMF Special Drawing Rights ("paper gold") to the Germans for deutsche marks, and it proposes to borrow as much as $5 billion of foreign currencies from the IMF. That $5 billion credit already existed. Hence...
...inundating currency markets, it was clearly too little, too late. Money traders were disappointed that the U.S. announced no plans to sell Treasury bonds to foreign central banks and take loans from private foreign banks to build its reserves of foreign currency, as had been rumored. Said one leading German banker of the $740 million to be raised by selling SDKs: "That much can be spent in two hours over the telephone." Moreover, Solomon again emphasized that the U.S. intends to buy up only as many dollars as might be necessary to prevent "disorderly markets," meaning that the U.S. will...
...Chicago, a powerful show of German expressionism...
...Stockholm, Munich. Weimar, Barcelona, Vienna. Paris was uniquely hospitable to the avantgarde. But it had no monopoly on newness. The exhibition of 164 paintings and graphics that opened last week at Chicago's Museum of Contemporary Art is a sharp reminder of that fact. Organized under the title "German and Austrian Expressionism: Art in a Turbulent Era" by Art Historian Peter Selz, it does real justice to a neglected area...
Rudely stated, German expressionism was the house style of radical figurative art in Northern Europe between about 1905 and 1930. But as Selz rightly insists in his catalogue essay, it was less a style than a cluster of attitudes. The major expressionist painters-Ernst Ludwig Kirchner, August Macke, Max Pechstein, Franz Marc, Emil Nolde, Max Beckmann, Oskar Kokoschka, Lyonel Feininger-did have formal traits in common. Harsh, dissonant color that blared fitfully from an unrefined surface; jagged shapes, broken-bottle cubism, an appetite for the primitive in drawing; masklike faces, Gothic poses, extreme jumps of tone between limelight and gloom...