272–9

Conversation No. 272-9

Date: August 9, 1971
Time: 2:15 pm - 2:55 pm
Location: Executive Office Building

The President met with Stephen B. Bull.

President's schedule
-John B. Connally

Bull left at an unknown time before 2:30 pm.

Connally entered at 2:15 pm.

Henry S. Reuss
-Report
 6

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)


-Treasury Department’s response
-Loan negotiation

International monetary situation
-Currency exchanges
-Figures
-Switzerland
-Great Britain
-France
-Belgium
-Japan
-Italy
-Lira
-Ceiling against dollar
-Vatican
-Gold
-Forthcoming administration actions
-Possible leak
-George P. Shultz, Peter G. Peterson, Paul A. Volcker, Paul W.
McCracken, John N. Mitchell
-Newspaper story
-Timing
-Risks
-Assets
-Switzerland
-Gold
-Erosion
-International and national mood
-Volcker
-Possible change
-Consequence
-Possible closing of gold window
-International Monetary Fund [IMF]
-Relationship to President’s program
-President’s possible actions
-Consequences
-International markets
-Possible leak
-Paul Scott
-Drew Pearson
-Connally, Shultz, and the President
 7

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)


-Peterson
-H. R. (“Bob”) Haldeman
-Conversation with Connally, August 9, 1971
-Connally’s conversation with Wilbur D. Mills
-Devaluation
-Japan
-Trade
-Steel and textiles
-Staff inquiries
-Consequences
-Peterson
-Handling
-President's possible program
-Research
-Import tax, excise tax, investment tax credit
-Wage and price freeze

Federal budget
-Shultz
-Possible vetoes
-Department of Health, Education, and Welfare [HEW]

The President talked with Manolo Sanchez [?] at an unknown time between 2:15 pm and 2:30
pm.

Request for Sanchez [?]

[End of telephone conversation]

Sanchez entered at an unknown time after 2:15 pm.

Refreshments

Sanchez left at an unknown time before 2:30 pm.

President’s schedule
-Meeting with Raymond K. Price, Jr. [?] and [Forename unknown] Eisenhower [?]

[Unintelligible]

Vietnam
 8

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)


-Press conference, August 4, 1971
-Negotiations
-Channels
-State Department
-Defense Department

People's Republic of China [PRC]

Leaks
-New York Times

Haldeman entered at 2:30 pm.

-Paul Scott's article
-Previous stories
-Instructions for Haldeman
-Peterson
-Export rebate
-Meeting with Shultz, Volcker, and McCracken
-Gold window closing
-Knowledge of President’s program
-Administration response

-Treasury Department
-Council of Economic Advisors [CEA]
-Volcker's meeting with Connally
-McCracken
-Peterson
-Mills
-McCracken
-Peterson
-CEA
-Shultz
-Crisis with German Deutsche Mark [May 1971]
-Arthur F. Burns
-Charlie Kunz [sp?]
-Dollar contingency plan
-Scott's stories
-Henry A. Kissinger
-Scott
-Peterson
 9

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)


-Conversation with Haldeman
-Press relations
-Joint Subcommittee request
-Peterson
-President's program
-Haldeman's role
-Peterson's role
-Import tax, investment tax credit, wage and price freeze
-McCracken's conversation with the President
-Dollar flotation
-Burns
-Connally's conversation with the President
-Currency transactions
-Swiss
-Figure
-Possible panic
-Vietnam, PRC
-Peterson
-McCracken
-Haldeman's forthcoming calls
-McCracken, Peterson
-Scott's story
-Peterson’s knowledge
-Connally's conversation with Peterson
-Previous story
-Foreign affairs
-CEA
-National Security Council [NSC]
-Economies

Haldeman left at 2:45pm.

Anti-trust laws
-Possible amendments
-Strategic materials
-Bauxite, tin, platinum, chrome
-Possible energy crisis
-Europe
-Middle Eastern oil
-Possible encouragement of expropriation of US companies
-Constraints on competition
 10

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)


-Foreign government action
-Connally's meeting, August 8, 1971
-Texas Eastern
-John K. Jamieson of Standard Oil
-John D. Harper, Chairman of Alcoa Corporation
-George B.D. Peterson of Alcoa
-Ed Speer of US Steel
-Baxter Goodrich of Texas Eastern
-Japanese and Italian Steel companies
-Speer’s concern
-French aluminum industry
-Harper’s concern
-General Agreement on Tariffs and Trade [GATT]
-Editorials concerning free trade
-Liberals
-New York Times
- Nixon Round
-\"Kennedy round\"
-French aluminum company

Economy
-International monetary crisis
-President's program
-Status
-Timing of announcement

Anti-trust laws
-Possible changes
-Mitchell
-Roy Ingrams, assistant General Counsel at Treasury Department
-Volcker's conversation with Burns
-Burns’ view
-Possible conversation Europeans
-Volcker’s view
-Europeans' possible actions
-French
-Gold
-Germans
-British
-French
-Volcker’s conversation with Connally
 11

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)


-France
-Japan
-Possible conversation with Europeans and Japan
-Burns
-Wage and price freeze
-Connally's schedule

Connally left at 2:55 pm.