Some 16th-century Italian clergymen tried to ban coffee because they believed it to be “satanic.” However, Pope Clement VII loved coffee so much that he lifted the ban and had coffee baptized in 1600.
BACKWARDATION
Etymology
Noun
backwardation (countable and uncountable, plural backwardations)
(finance) The situation in a futures market where prices for future delivery are lower than prices for immediate (or nearer) delivery, generally arising from a near-term shortage of a commodity.
(obsolete, London Stock Exchange) A fee paid by a seller on settlement day either to the buyer or to a third party who lends stock, when the seller wishes to defer settlement until the next settlement day.
Antonyms
• contango
• forwardation
Source: Wiktionary
Back`war*da"tion, n. Etym: [Backward, v.i.+ -ation.] (Stock Exchange)
Definition: The seller's postponement of delivery of stock or shares, with the consent of the buyer, upon payment of a premium to the latter; -- also, the premium so paid. See Contango. Biddle.
Source: Webster’s Unabridged Dictionary 1913 Edition
Recent Word Finds
Word of the Day
22 April 2025
BRIGHT
(adjective) made smooth and bright by or as if by rubbing; reflecting a sheen or glow; “bright silver candlesticks”; “a burnished brass knocker”; “she brushed her hair until it fell in lustrous auburn waves”; “rows of shining glasses”; “shiny black patents”
Coffee Trivia
