Sunday, August 15, 2021

Great moments in presidential history

Justin Fox in the NY Times Book Review:

As for Nixon, it wasn’t so much that he wanted to destroy Bretton Woods and the gold standard as that he couldn’t be bothered to save them. 

[Jeffrey]Garten offers this exchange from the White House tapes between the president and his chief of staff, H. R. Haldeman:

Haldeman: Did you get the report that the British floated the pound last night?

Nixon: No. I don’t think so. They have?

Haldeman: They did.

Nixon: That’s devaluation?

Haldeman: Yeah. [White House aide Peter] Flanigan has a report on it here.…

Nixon: I don’t care. Nothing we can do about it.

Haldeman: [Federal Reserve Chair] Burns is concerned about speculation about the lira.

Nixon: Well, I don’t give a shit about the lira.

Rob's comment:
Bob Woodward is credited with saying, "Nixon, the gift that keeps on giving." 

Nixon didn't give a shit because this exchange happened in 1973 after he was reelected in 1972.

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