Nixon Shock
Main article: Nixon ShockIn 1971, President Richard Nixon took a series of economic measures that collectively are known as the Nixon Shock. These measures included unilaterally cancelling the direct convertibility of the United States dollar to gold that essentially ended the existing Bretton Woods system of international financial exchange.
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“For its part, Government will listen. We will strive to listen in new ways—to the voices of quiet anguish, to voices that speak without words, the voices of the heart, to the injured voices, and the anxious voices, and the voices that have despaired of being heard.”
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