re: President Nixon warns against the “Media Elitist Complex”

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I am equally turned off to his getting rid of the gold standard

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I am curious as to how much he felt as though his hands were tied here. During the Johnson era, European countries noticed the crazy spending (welfare spending, Vietnam and space race) and lack of increased taxing to compensate. They began to ask for gold for their dollars. Agreed though that leaving the Bretton Woods agreement and switching over to the petro-dollar really sucked.