Carolina QuotesWe must protect the dollar from the attacks of international money speculators. ... I have directed Secretary Connally to suspend temporarily the convertibility of the American dollar [for gold] ... Let me lay to rest the bugaboo of what is called devaluation. ... Your dollar will be worth just as much tomorrow as it is today.
Richard Nixon Connected to the Carolinas
Source
The Challenge of Peace: Nixon's televised address imposing a new economic policy (August 15, 1971), which ended the Bretton Woods monetary system, and initiated the "Nixon shock".
- form
- broadcast
- year
- 1971
Cite this record
“We must protect the dollar from the attacks of international…” Richard Nixon. Carolina Quotes, record CQ-39D54BA484. https://carolinaquotes.com/quote/39d54ba484
More from Richard Nixon
And I want you to know that I have no intention whatever of ever walking away from the job that the people elected me to do for the people of the United States.
I am also aware of the plans you have for the future--the plans to move from 75 cities to 125 cities; the plans also to attempt to get at this whole problem of unemployment, and hard-core unemployment particularly, by moving perhaps as many as 500,000 into jobs--the time, as I understand now, June 1971, but because of the number of new cities, perhaps even sooner. This is an ambitious project. What I am here to say, and what the members of this Cabinet are here to say, is that it has the complete, unqualified support of this administration, just as it had of the previous administration. There is no partisanship in this program. All that we want and all that you want is to deal with this basically essential problem in an effective way; to move people from welfare rolls to payrolls. This we want; this you want; and you will have our support in that project.
Nixon: The French have had a helluva time and they're half-Latin, and all of Latin America is not any good at government. They either go to one extreme or another. It's either a family, ah, three extremes: family, oligarchy, or a dictatorship; or a dictatorship on the right, or one on the left, very seldom in the center. Now, having said all that, however, as you compare the Latin dictatorships, governments, etc., and their forms of government, they at least do it in their way. It is an orderly way which works relatively well. They have been able to run the damn place. Looking at the black countries, of course, there are only two old ones—Haiti is an old one and Liberia is a very old one.