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Why Trump refuses to touch a radical 1971 playbook to kill inflation
What happened
AlterNet does not establish that President Donald Trump personally considered and rejected Richard Nixon’s 1971 strategy. Its interview instead argues that Nixon acted during a fundamentally different crisis: the United States was days from a possible dollar default under the collapsing Bretton Woods system. Historian Luke Nichter says no comparable monetary emergency exists today.
Nixon temporarily froze wages and prices and suspended dollar-to-gold convertibility on August 15, 1971. Nichter emphasizes that the resulting transformation took years, required major legislation…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.