Heard a new word on the NPR morning news this morning. Two citation forms: backwardation and backwardated. I was so shocked that it didn't really sink in what it meant but I think it has something to do with lowering prices.

Stock Exchange term for a percentage paid by a seller of stock for the privilege of keeping back or delaying its delivery till the following account or to any other future day agreed upon.
1850 Keyser Law Stock Exch., The term Backwardation is employed when stock is more in demand than money, and a premium is given to obtain the loan of stock against its value in money. a1860 C. Fenn Eng. & For. Funds (1883) 127 Backwardation is paid by the speculator for the fall, or the Bear, in order to postpone delivery until the following account. 1880 Society 3 Sept. 16 The Bear a good contango loves, The Bull a backwardation. {OED}

contango? [there's one for teD]
The percentage which a buyer of stock pays to the seller to postpone transfer to the next or any future settling day; continuation; the opposite of backwardation.

tsuwm replies(in part): 1850 Keyser Law Stock Exch., The term Backwardation...1860 C. Fenn Eng. & For. Funds (1883) ... 1880.... {OED}

Just goes to show doesn't it?

>contango? [there's one for teD]

Moi? I wouldn't touch that one.

Ted wanders away humming Jailhouse Rock

Two fascinating words, for which I wish I had some concrete examples. My guess is that these things are akin to what we now call futures, options, and derivatives. Another evil way to part the unwary from his or her cash.

But as Heinlein points out through the medium of the mind of Lazarus Long, "It's a sin NOT to separate a fool from his money."

just as you can forward the progress of something, so can you backward it.

tsuwm remarks: just as you can forward the progress of something, so can you backward it

Our friendly OED gives 1594* as the date of the earliest citation for the definition: to delay or hinder...

Or was it 1564? I always have trouble remembering numbers when they have 6s and 9s in them.