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The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States president Richard Nixon on 15 August 1971 in response to increasing inflation. [1] [2]
The Gold Clause Cases were a series of actions brought before the Supreme Court of the United States, in which the court narrowly upheld the Roosevelt administration's adjustment of the gold standard in response to the Great Depression.
In this position, Connally presided over the removal of the United States dollar from the gold standard, an event known as the Nixon shock. Connally stepped down from the Cabinet in 1972 to lead the Democrats for Nixon organization, which campaigned for Nixon's re-election.
For many people, Trump's presidential victory came as a shock -- but this 1987 letter shows that Richard Nixon recognized a political star in the making. For many people, Trump's presidential ...
After Nixon, the presidents stamped with impeachment – Bill Clinton and Donald Trump – felt no need to resign as the momentum for impeachment built after their revelations of misconduct.
The United Kingdom slipped into a gold specie standard in 1717 by over-valuing gold at 15 + 1 ⁄ 5 times its weight in silver. It was unique among nations to use gold in conjunction with clipped, underweight silver shillings, addressed only before the end of the 18th century by the acceptance of gold proxies like token silver coins and banknotes.
Donald Trump's argument that he is immune from criminal prosecution clashes with the precedent established by the pardon of Richard Nixon in three conclusive ways.
The Gold Standard Act was an Act of the United States Congress, signed by President William McKinley and effective on March 14, 1900, defining the United States dollar by gold weight and requiring the United States Treasury to redeem, on demand and in gold coin only, paper currency the Act specified. [1]