Nixon White House Tapes › Tape 15 › Conversation 015-119

Nixon phone call with an unidentified caller on Monetary Policy

Tuesday, November 23, 1971 · 5:44 PM–5:47 PM ET · White House Telephone · 3 min

ParticipantsNixon, Richard M. (President); White House operatorConversation015-119 on Tape 15 (tape position 03:40:11–03:43:26)StartTuesday, November 23, 1971 at 5:44 PMEndTuesday, November 23, 1971 at 5:47 PMRecording deviceWhite House TelephoneSourceNixon Library record for 015-119 ↗

AI Summary

President Nixon and Treasury Secretary John Connally coordinated their strategy for managing Federal Reserve Chairman Arthur Burns regarding monetary policy and upcoming economic discussions. They planned a two-stage approach: Connally would meet with Burns individually to prep him on the money supply, followed by a larger 4:30 PM meeting involving Nixon, Connally, Burns, George Shultz, and Henry Kissinger. This structure was designed to ensure Burns remained aligned with administration goals while providing him with a sense of inclusion in the decision-making process.

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Transcript (AI-generated)

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Names and numbers are often wrong; speakers are not identified. Do not cite it as authoritative — verify against the audio and the finding aid.

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· Click a timestamp to play from that point; the page address then links to that moment (e.g. #t=125).
Yes, sir.
Let me spend a minute to be sure that I know.
We meet tomorrow at 10, I understand, with Schultz and Ehrlichman, and that's on budget, that's on tax.
And at 1130, it says here that you and Burns and I meet.
I don't believe I'd been notified of that, but that's fine.
Yeah, well, the only thing I was... Well, apparently he's coming.
The only thing I was wondering about is...
whether or not you and I and Kissinger and Schultz ought to sit down to get our ducks in a row before we talk to Burns.
Remember, you said the day that you thought that the whole group ought to meet with Burns or something.
Yes, sir.
And I'm just trying to...
So I can clear an earlier morning thing for you, like a 9 o'clock thing.
But you tell me what you think is the best plan, because the one thing I'm concerned about, John...
I think it's very important that we get Burns lined up so that he doesn't go over there and try to call the signals.
Yes, sir.
Don't you agree?
Yes, sir.
He's got to support whatever you do, you see.
Here's what I thought might work out.
I'm going to have breakfast with him in the morning.
With Burns?
Yes, sir.
Good.
I'm going to hit him primarily on the money thing and then try to set him up for you to hit him on the money supply.
All right, good.
And then while we're there, make that the principal point of discussion.
But then get into this other thing and just say, now, y'all tell me how you analyze this thing.
And let both of us talk.
Let him talk.
Let me talk.
And then you say, well, let me think about this.
And then, frankly, I want to talk to Henry.
There's some foreign policy things in here.
And I want to talk to George some about this.
What I probably will do is get all of you all back together and we'll thrice this out and settle it.
And I'll give you some directions.
and maybe the next day.
Well, the next day is Thanksgiving.
Oh, that's right.
Well, maybe tomorrow afternoon.
Tomorrow afternoon, you'd call... Then call Henry.
See, I'll be gone, unfortunately, but Henry will be gone.
See, I'll be gone Friday.
I've got to go to California, see, for that Eisenhower thing.
Well, I see.
Well...
How about doing it late in the afternoon Friday?
Wednesday, I mean.
Sure, do it late tomorrow afternoon.
Is 5 o'clock all right with you?
Sure.
I'll tell you, we could do it a little earlier.
How about 4.30?
That's fine.
4.30 is... We set up a meeting then of what people?
I would say Arthur, me, George, me.
That's right, and myself.
And you.
That's all.
Okay.
4.30 for the group.
The full group.
That'll give him the feeling that he got...
He got consulted.
He got consulted.
But then at the 4.30 meeting, we should have our ducks in a row.
Yes, sir.
And I ought to lay it out there.
Yes, sir.
Fine.
That's a correction.
And I should tell him at 11.30 that I'm going to think about this thing and that we ought to get together at 4.30.
All right, I'll see that the others are informed.
And shall I see that he's told that he wants to come back at 4.30 so that he keeps the time?
Or do you want to tell him?
No, I think you better have it done from here.
Yes, sir, I think you better come from there.
Okay, I'll do that.
All right, thank you.
Thank you.

NARA Description

On November 23, 1971, President Richard M. Nixon and the White House operator talked on the telephone from 5:44 pm to 5:47 pm. The White House Telephone taping system captured this recording, which is known as Conversation 015-119 of the White House Tapes.

Nixon Library Finding Aid

Conversation No. 15-119

Date: November 23, 1971
Time: 5:44 pm - 5:47 pm
Location: White House Telephone

The President talked with the White House operator.

     John B. Connally

The President talked with Connally.

[See also Conversation No. 623-24D]

     The President's schedule, 11/24
          -Meeting with Connally, George P. Shultz and John D. Ehrlichman
          -Meeting with Connally and Arthur F. Burns
               -Connally, Henry A. Kissinger and Shultz
               -Connally's meeting with Burns
                      -Money supply
               -Kissinger and Shultz
               -The President's trip to California for Eisenhower Center event
               -Time
          -Meeting with Burns, Kissinger, Connally and Shultz
               -Time

Also recorded on November 23, 1971

  • 015-118 5:42 PM · 7 sec — President Richard M. Nixon, White House operator, and George P. Shultz talked on the telephone at an unknown time between 5:42 pm and 5:44 pm.
  • 015-120 5:47 PM · 6 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 5:47 pm and 5:58 pm.
  • 015-121 5:58 PM · 58 sec — President Richard M. Nixon, White House operator, and John B. Connally talked on the telephone from 5:58 pm to 5:59 pm.
  • 015-122 6:02 PM · 3 min — President Richard M. Nixon, White House operator, and Norman Van Brocklin talked on the telephone from 6:02 pm to 6:05 pm.
  • 015-123 6:07 PM · 9 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 6:07 pm and 6:08 pm.
  • 623-025 6:07 PM · 10 sec — President Richard M. Nixon and Stephen B. Bull met in the Oval Office of the White House at an unknown time between 6:07 pm and 6:08 pm.
  • 623-026 6:07 PM · 6 sec — President Richard M. Nixon and Alexander P. Butterfield met in the Oval Office of the White House at an unknown time between 6:07 pm and 6:08 pm.
  • 623-027 6:07 PM · 7 sec — President Richard M. Nixon and the White House operator met in the Oval Office of the White House at an unknown time between 6:07 pm and 6:08 pm.

All 49 conversations from November 23, 1971 →

Cite this conversation

Conversation 015-119, November 23, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/015-119 (accessed October 12, 2026).