Gillian Tett

speaker

1,226 appearances 12 recordings 1 series first heard May 2026 last heard 2 Sep

Gillian Tett’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 12 in all, peaking in Jul 2026 with 4.

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The Story of Money · When Nixon put America first and took the dollar off gold · 10 Jun 2026 podcast

And with it the Bretton Woods system, which has been in place since World War Two, knitting together a global economy seemingly so successfully. matched

But if he gets it right and he knows this, he could head off an imminent financial crisis, cement the dollar's hegemony for years to come, and walk away looking like a hero. matched

So that's all in part two of the Nixon Shop. matched

Here on the Story of Money from the Financial Times with me, Gillian Tett, matched

So for the last twenty-seven years yes, twenty-seven years, America Central Bank has faithfully honored a solemn promise made by the US to its allies at the end of World War Two that it will always exchange their dollars for gold at thirty-five dollars an ounce. matched

But remember matched

But the cool problem is the Fed simply doesn't have enough gold in its vaults anymore to actually honour that promise. matched

If you like it's running the financial equivalent of a Potemkin town, which looks great on the outside, but doesn't actually have real substance behind it. matched

And as a result, the other central banks who know this are starting to engage in a very slow motion bank run. matched

So the key question now is: will Richard Nixon and his team head off this imminent disaster? matched

Jeffrey, welcome back to the show. matched

Thank you. matched

Thank you very much. matched

So imagine the scene. matched

The helicopter's taken off. matched

It's cruising low tha the suburbs in northern Washington, on its way to Camp David in not so glamorous Maryland. matched

So, Jeffrey, tell us who else is on board that helicopter Marine One with Richard Nixon, the president. matched

Who are the other key players in the meeting that's about to start? matched

So what you've got is really the A team. matched

I mean the only person who's not there is Henry Kissinger and I understand he was over in Paris negotiating with the North Vietnam Vietnamese at the time. matched

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