Answer to Mime's question

Richard Fidler rfidler at
Sun May 6 10:55:19 MDT 2001

Mine wrote:

<< btw, just to save time, and assuming some comrades may know about this
(especially Henry, others are welcome too): what did Nixon's monetary policies
offer to US international bankers in the 70s? were they favorable? or
unfavorable? did Nixon (or Fed) increase or decrease the interest rates after
the crisis (1971 dollar crunch)? how did this affect the bankers? Pijl is
suggesting that, New York banking community who were representing the liberal
section of the bourgeoisie, was pissed at Nixon's realpolitik/
unilaterialism/selective industrial polices, but he does not talk about
"monetary policies" specifically. what was unileteral about Nixon's monetary
policies (besides the fact that he abondoned the Bretton Woods/ fixed exchange
rate regime, and let the dollar float)?

<< What did the bankers propose to Fed after the Asian crisis in order to
minimize the impacts of the crisis on the _US economy_? (I know that they ofered
to Asia tight monetary policies-- high interest rates, low govern expends,
economic downsiziing--which made the situation worse. I am more interested in
the US side of the equation).. IMF/Fed/US tells Asia to increase the interest
rates, while Greenspan is lowering the rates here. Can somebody help me connect
these two responses ?

<< I just can't find specific info about Nixon's monetary policies in my
books...(except .Moseley's article) . geez....>>

My suggestion:

If you would read the book I recommended to you a few months ago, you would have
some answers. In case you overlooked it, the book was "The Global Gamble:
Washington's Faustian Bid for World Dominance", by Peter Gowan (Verso, 1999).

Richard Fidler
rfidler at

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