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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.
Nixon had represented the U.S. government along with former Vice President Hubert H. Humphrey at Charles' investiture in Caernarvon Wales one year earlier in July 1969. [9] She has lived a very private life in the suburbs of New York, and was a stay-at-home mother to her son, [citation needed] Christopher Nixon Cox, born in March 1979. [3]
Vietnamization was a failed policy of the Richard Nixon administration to end U.S. involvement in the Vietnam War through a program to "expand, equip, and train South Vietnamese forces and assign to them an ever-increasing combat role, at the same time steadily reducing the number of U.S. combat troops". [1]
[3]: 27 With respect to the then-ongoing Vietnam War, the president declared that "As our involvement with the war in Vietnam comes to an end, we must go on to build a generation of peace". [4]: 189 (The war actually ended with the Fall of Saigon in 1975, three years later, making the president's declaration read as premature in retrospect.
In order to counter inflation Nixon ordered a 90-day wage-price freeze and announced that the U.S. would end international convertibility of the U.S. dollar to gold in what became known as the Nixon shock. [212] 16 August. PAVN overran Baho, a Vietnamese Marine position 4 miles (6.4 km) from Firebase Sarge and 9 miles (14 km) south of the DMZ.
The Nixon Administration embarked upon a policy of "Vietnamization", or turning over ground combat to the South Vietnamese. Despite the name, significant numbers of American troops continued to fight in Vietnam in 1969 and onward; the scaling back was gradual, and the US continued to support South Vietnam heavily in supplies and with air power.
Nixon withdrew his demand for a withdrawal of all North Vietnamese forces from South Vietnam as a precondition for a peace agreement. Nixon proposed that all U.S. POWs be released and an internationally supervised cease fire take place. The U.S. would cease bombing and withdraw from South Vietnam within six months after those conditions were met.
The US foreign policy during the presidency of Richard Nixon (1969–1974) focused on reducing the dangers of the Cold War among the Soviet Union and China.President Richard Nixon's policy sought on détente with both nations, which were hostile to the U.S. and to each other in the wake of the Sino-Soviet split.