Nixon shock Concepts

Keeping at It: The Quest for Sound Money and Good Government

by Paul Volcker and Christine Harper · 30 Oct 2018 · 363pp · 98,024 words

that call made it any easier for the Japanese to deal with the crisis they would call the “Nixon shokku” coming shortly after the first “Nixon shock” of the opening to China. They pleaded that they had no intention of converting their rapidly growing dollar holdings into gold in any event. I

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Kennedy and, x, 60 rate exchange and, x, 65, 71–75, 76 Watergate scandal/resignation, xi, 86, 87, 90 See also specific events; specific individuals “Nixon shock,” 74 North American Free Trade Agreement (NAFTA), 137 North Atlantic Treaty Organization (NATO), 71, 77 Oak Ridge, Tennessee, 9 Obama, Barack Dodd-Frank legislation and

Magic Internet Money: A Book About Bitcoin

by Jesse Berger · 14 Sep 2020 · 108pp · 27,451 words

respond to increasing inflation. The most significant rendered inoperative the existing Bretton Woods system of international financial exchange. It came to be known as the Nixon Shock. 6Occurring between 2007 and 2008, it is considered by many economists to be the most serious financial crisis since the Great Depression of the 1930s

The Social Life of Money

by Nigel Dodd · 14 May 2014 · 700pp · 201,953 words

a system of “floating” exchange rates was adopted. President Nixon’s decision to suspend the dollar’s convertibility into gold in 1971—known as the “Nixon shock”—was a major step toward this breakdown. 43 It was Bourdieu who accused Hans Tietmeyer, then President of the Bundesbank, of perpetuating a “monetarist religion

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; eternal return; Übermensch Nigeria, 301 ninety-nine percent, 3, 129–30, 370–71 nihilism, 141, 142 Nishibe, Makoto, 345 Nixon, Richard, 45, 98–99, 244 Nixon shock, 45n Nobel Prize, 330 nomos, 262, of the Earth, 222, 223 nongovernmental organizations (NGOs), 239 nonpecuniary values, 287, 294 North, Peter, 373 North Atlantic Treaty

The Sushi Economy: Globalization and the Making of a Modern Delicacy

by Sasha Issenberg · 1 Jan 2007 · 534pp · 15,752 words

-finance system—the abolition of the gold standard, which led to the end of the Bretton Woods system—that came to be known as “the Nixon Shock.” At Tsukiji, it meant one thing: Overnight, the cost of importing bluefin tuna into Japan fell by 15 percent. Allowed to float freely, Japan’s

Transcending the Cold War: Summits, Statecraft, and the Dissolution of Bipolarity in Europe, 1970–1990

by Kristina Spohr and David Reynolds · 24 Aug 2016 · 627pp · 127,613 words

being any other nation’s enemy.’ He closed by saying that ‘all nations’ would benefit from Sino-US rapprochement.49 What became known as the ‘Nixon shock’ stunned America’s Asian and European allies, who had been given as little as half an hour’s notice of the announcement. While a minority

The Vanishing Middle Class: Prejudice and Power in a Dual Economy

by Peter Temin · 17 Mar 2017 · 273pp · 87,159 words

policies of the Nixon and Ford administrations to be turned against his own antipoverty programs” (Hinton 2016, 8, 14). See also Thompson 2010. 3. The “Nixon Shock” was a combination of three policies, but the change in exchange-rate regime was the lasting and important one. The need for a new policy

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, 27 Southern Strategy and, 15, 27, 35, 81, 117, 142 War on Drugs and, xv–xvi, 15, 37–38, 53, 55, 104, 106, 110, 132 Nixon Shock, 169n3 Nobel Prize, 7, 49, 124, 162, 164 North cities and, 132–134 concepts of government and, 88, 94 FTE (finance, technology, and electronics) sector

Samuelson Friedman: The Battle Over the Free Market

by Nicholas Wapshott · 2 Aug 2021 · 453pp · 122,586 words

succeed Burns as chairman of the Federal Reserve—to Camp David to discuss a wide package of new economic measures—named by the press “The Nixon Shock”—ostensibly to bring inflation down. Again, Friedman was conspicuously left out. The pressing problem for Nixon was that the Vietnam War, a widening trade deficit

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Ford pardon of, 329 Friedman’s disappointment in, 117, 141, 143, 214 full employment budget, 146, 325 imperfections, 116–17, 141 inflation and, 145–50 “Nixon Shock,” 148 “Now I am a Keynesian,” 147, 267 regulations and agencies introduced by, 158 State of the Union address, 1971, 146, 147 tariffs, 141, 148

The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order

by Paul Vigna and Michael J. Casey · 27 Jan 2015 · 457pp · 128,838 words

with an executive order that was designed in consultation with just a handful of staffers from the Treasury, the Fed, and the White House. The “Nixon Shock” rendered the Bretton Woods agreement pointless. By 1973, once every country had taken its currency off the dollar peg, the pact was dead, a radical

The Quiet Coup: Neoliberalism and the Looting of America

by Mehrsa Baradaran · 7 May 2024 · 470pp · 158,007 words

planning should have been shut down immediately by any self-respecting capitalist, like those in the room at Camp David. The decision was called “the Nixon shock” for its effects on the world economy. The President announced the decision to the public, stating that “the effect of this action, in other words

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, 90, 95, 100, 101, 103–6, 109, 116, 121, 124, 126–28, 138, 153, 157, 158, 173, 187, 225, 228, 236, 270, 276, 293, 355 “Nixon shock,” 62 Nobel, Alfred, 33 Nobel Prize, 31–34, 38, 40, 46, 60, 63–67, 139, 159, 160, 166–70, 172, 227, 233–35, 295–96

Currency Wars: The Making of the Next Gobal Crisis

by James Rickards · 10 Nov 2011 · 381pp · 101,559 words

Industrial Average had its largest one-day point gain in its history up until then. The announcement has been referred to ever since as the Nixon Shock. The policy was conceived in secret and announced unilaterally without consultation with the IMF or other major participants in Bretton Woods. The substance of the

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of refusing to sell gold for $35 an ounce, the Treasury will simply refuse to sell . . . for $38 an ounce.” The Smithsonian Agreement, like the Nixon Shock four months earlier, was extremely popular in the United States and led to a significant rally in stocks as investors contemplated higher dollar profits in

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massive intervention required agreement and coordination by the major governments involved. Western Europe and Japan had no appetite for dollar devaluation; however, memories of the Nixon Shock were still fresh and no one could be sure that Baker would not resort to import surtaxes just as Connally had in 1971. Moreover, Western

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success has been that, under its custody, the Treasury’s gold hoard has increased in value from about $11 billion at the time of the Nixon Shock in 1971 to over $400 billion today. Of course, this increase in the value of gold is just the flip side of the Fed’s

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the conditions of IEEPA. The president meets with his economic and national security advisers and speechwriters to prepare the most dramatic economic address since the Nixon Shock of 1971. At 6:00 p.m. New York time on day two of the global dollar panic, the president gives a live address to

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, D.C. National Export Initiative, U.S. National Monetary Commission natural gas industry, Russia’s Netherlands New Economic Policy, 1971, Nixon’s Nixon, Richard M. Nixon Shock of 1971 Nobel Prize in Economic Sciences normal distribution of risk Norman, Montagu Norman v. Baltimore & Ohio Railroad Co. North Korea Norton, Charles D. Obama