Trump vs Nixon: ‘They’re both very revengeful’ | FT #shorts

A century ago, when depositors lost confidence in a bank, they’d rush to withdraw their cash. In 1971, US president Richard Nixon faced a similar dilemma. But his problem wasn’t ordinary citizens fearing for their savings. Instead, it was America’s closest allies who were nervously eyeing the dwindling supply of gold in Fort Knox at a time when the dollar’s value was tied to gold and allies’ currencies were in turn tied to the dollar.⁠ ⁠ In the first of two episodes on what became known as the 'Nixon Shock', hosts Gillian Tett and Robin Wigglesworth get the story from economist and ex-financier Jeffrey Garten — a man with a CV so long that he once even worked for the Nixon administration himself.⁠ #shortsviral #shortfeed #shortsvideo #shortsyoutube #nixon ► Enjoying FT content? Get a daily slice of the very best FT journalism with FT Edit. Free for 30 days then just £4.99 a month See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132. ► Check out our Community tab for more stories: https://www.youtube.com/@FinancialTimes/community ► Listen to our podcasts: https://www.ft.com/podcasts ► Follow us on Instagram: https://www.instagram.com/financialtimes ► Follow us on Instagram: https://www.tiktok.com/@financialtimes