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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.
Nixon's monetary policies effectively took the United States off the gold standard and brought an end to the Bretton Woods system, a post-war international fixed exchange-rate system. Nixon believed that this system negatively affected the U.S. balance of trade ; the U.S. had experienced its first negative balance of trade of the 20th century ...
President-elect Donald Trump on Sunday, in his first rally-like speech since the November election, threatened to retake control of the Panama Canal, pushed back on criticism of Elon Musk’s ...
Aug. 3—One of the most consequential political figures of the 20th century ate the same meal for lunch almost every day: Crackers, a tall glass of milk, and a ring of canned pineapple topped ...
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 Smithsonian Agreement was created when the Group of Ten (G-10) states (Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, the United Kingdom, and the United States) raised the price of gold to 38 dollars, an 8.5% increase over the previous price at which the US government had promised to redeem dollars for gold. In ...
"Basket of deplorables", a phrase used by Hillary Clinton to describe some of Donald Trump's supporters. [39] The phrase was embraced by many Trump supporters. [40] "But her emails", a phrase used primarily by critics of Donald Trump to mock the abundance of attention paid to Hillary Clinton's email controversy during the 2016 election. [41]