Nixon White House Tapes — Conversation 638-012
Date: Wednesday, December 15, 1971 at 12:06 PM
Participants: Nixon, Richard M. (President); Volcker, Paul A.; [Unknown person(s)]
Recording device: Oval Office
Source: https://www.easynixon.org/tapes/638-012

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Do not cite it as authoritative.

[0:00] Paul, how many monetary crises, I don't need the exact number, but have we had in the last 10 years?
[0:13] Seven or... Oh, probably seven.
[0:16] We've had three.
[0:18] We had the mark thing, we had the draft.
[0:20] We had a sterling thing, we had a German thing.
[0:23] That's two.
[0:26] Why don't we say we probably in this baseline is kind of a tenuous one.
[0:31] Over the last ten years, could I say that we've had seven major monetary crises?
[0:39] Nobody can prove you're right or wrong.
[0:41] I'm going to say that Paul Walker tells me.
[0:46] I think I'll go on.
[0:47] Yes, sir.