Jeffrey Garten
speaker
224 appearances
1 recordings
1 series
first heard Jun 2026
last heard 3 Jun
Jeffrey Garten’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.
Appearances
It was a big thing in the 50s and 60s, and it was something never contemplated at Bretton Woods.
Well, I would say that the beginning of the dollar crisis, the very beginning, was actually, I guess it was 1960, very end of the Eisenhower administration.
The Secretary of the Treasury made a trip to Germany, twisted Germany's arms, first of all, not to redeem dollars into gold, but also to accelerate the repayments of the Marshall Plan, to pay more for the American troops in Germany.
And that was the beginning of the recognition that there had to be a big change.
And all through the Kennedy administration, there were efforts to control the outflow of dollars from the U.S.
And those efforts got more intense during the Johnson administration.
And along the way, Great Britain devalued.
I can't remember how many times.
I think it was twice.
And that created shivers through the system because the pound sterling was seen as a major currency and it made others look at the dollar and say, are you next?
So by the time
Johnson came in, he put controls, he put real controls on outflows of dollars, but it still didn't work.
So the crisis just got bigger and bigger.
And when Nixon was elected, it was about to burst open.
And what was he like to work for?
Well, the Nixon that actually took office...
was a respected, experienced public figure.
He had been the vice president for President Eisenhower for eight years.
He was acknowledged to be a very sophisticated strategist when it came to foreign policy and international affairs.
He was welcomed because
Showing 101–120 of 224 · page 6 of 12
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