558–7

Conversation No. 558-7

Date: August 9, 1971
Time: 4:37 pm - 5:00 pm
Location: Oval Office

The President met with Paul W. McCracken.

International monetary affairs
-John B. Connally
-McCracken memorandum
-Length
-Delivery to President
-Stephen B. Bull
-Rose Mary Woods
-Paul Scott’s column
-Closing the gold window
-Treasury Department
-Contingency plan
-Planned action
 16

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 558-7 (cont.)


-Timing
-Forthcoming meeting
-Council of Economic Advisors [CEA]
-George P. Shultz
-Leaks
-Possible US action
-Dollar floatation
-Closing the gold window
-Price of gold
-Gold
-Switzerland
-Position of dollar
-Undervaluation
-Impact on imports

An unknown person entered at an unknown time after 4:37 pm.

Refreshment

The unknown person left at an unknown time before 4:43 pm.

International monetary affairs
-Position of dollar
-Undervaluation
-Impact on political leadership
-International trade
-Liberal orientation

Rose Mary Woods entered at 4:43 pm.

-Memorandum by McCracken

Woods left at 4:44 pm.

-Herbert Stein
-Ezra Solomon
-Hendrik S. Houthakker

National economy
-Retail sales figures
-Compared to June
 17

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 558-7 (cont.)


-Compared to 1970
-Consumer confidence
-Trends
-Consumer spending
-Money supply
-Rate of increase
-Arthur F. Burns
-Federal Reserve Board [FRB]
-Relationship to economy
-Timing
-Housing
-Subsidies
-Compared to unknown program
-Interest rates
-President's schedule
-Trips to Ohio, Iowa, New Hampshire and Maine
-Public mood
-Iowa
-Crowd
-McCracken’s family
-Size
-Capital goods
-Status
-Investment tax credit
-Depreciation
-Inventory levels
-President’s recent press conference
-Retail sales
-Unemployment statistics
-June and July 1971

International monetary affairs
-Forthcoming meeting
-Leaks
-Possible crisis
-Possible Administration responses
-Closing the gold window
-Dollar floatation
-International cooperation
-Burns
-France
 18

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 558-7 (cont.)


-Germany
-Great Britain
-France
-Japan
-Alternatives
-Closing the gold window
-Impact on the dollar
-Gold supply

National economy
-Domestic action
-Wage and Price Board
-President's press conference previous week
-Economic uncertainty
-Abuse of power
-Possible wage and price action
-Freeze

President's schedule
-Stein and Solomon

McCracken left at 5:00 pm.