This study is an expansion by AI of 2 records published by Skeptron, a studio in the RISCON family, and of the public-domain source texts listed below. Every sentence in a block quote is word for word either a record's own or a passage of a source text saved with this study, and its source line names which; the rest is AI writing. Skeptron's records are modern summaries of historical episodes written for a platform, not archival documents; they keep some of what the actors wrote and drop the rest, and the paper says which where it matters. The readings through the works named are this study's interpretation. Nothing in this study is advice on financial, legal or policy decisions.
| Case | Studio | Record |
|---|---|---|
| The Closing of the Gold Window | Skeptron | https://skeptron.risconlabs.com/questions?question=HQ-NIXON1971-01 |
| Volcker's Saturday | Skeptron | https://skeptron.risconlabs.com/questions?question=HQ-HC4-VOLCKER1979-01 |
The source texts this study read are saved with it, and the passages it quotes from them stand in them word for word:
| Text | File | Address |
|---|---|---|
| Richard Nixon, Address to the Nation Outlining a New Economic Policy: "The Challenge of Peace" (15 August 1971): the opening, the temporary wage-price freeze, the suspension of the convertibility of the dollar into gold, and the temporary import surcharge (excerpts) | sources/nixon-address-new-economic-policy-1971.md | https://archive.org/download/sim_weekly-compilation-of-presidential-documents_1971-08-23_7_34/sim_weekly-compilation-of-presidential-documents_1971-08-23_7_34_djvu.txt |
| Paul A. Volcker, press conference of 6 October 1979 announcing the Federal Reserve's actions (transcript, Board of Governors of the Federal Reserve System): full text | sources/volcker-press-conference-1979-10-06.md | https://fraser.stlouisfed.org/files/docs/historical/volcker/Volcker_19791006.pdf |
| Paul A. Volcker, Statement before the Joint Economic Committee of the U.S. Congress, 17 October 1979: full text | sources/volcker-jec-statement-1979-10-17.md | https://fraser.stlouisfed.org/files/docs/historical/volcker/Volcker_19791017.pdf |
The records were read on 2026-10-06. The texts were fetched on 2026-10-06. This study was written on 2026-10-07.
Bibliography
- Charles P. Kindleberger and Robert Z. Aliber, Manias, Panics and Crashes: A History of Financial Crises (2005).
- Barry Eichengreen, Globalizing Capital: A History of the International Monetary System (1996).
- Paul Tucker, Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State (2018).
- Allan H. Meltzer, A History of the Federal Reserve, Volume 2, Book 1, 1951–1969 (2009).
- David E. Lindsey, Athanasios Orphanides and Robert H. Rasche, The Reform of October 1979: How It Happened and Why (2005).
- William L. Silber, Volcker: The Triumph of Persistence (2012).
- Joanne Gowa, Closing the Gold Window: Domestic Politics and the End of Bretton Woods (1983).
- Harold James, International Monetary Cooperation Since Bretton Woods (1996).
- Finn E. Kydland and Edward C. Prescott, Rules Rather than Discretion: The Inconsistency of Optimal Plans (1977).
- Michael D. Bordo and Finn E. Kydland, The Gold Standard as a Rule: An Essay in Exploration (1995).
- Oren Gross and Fionnuala Ní Aoláin, Law in Times of Crisis: Emergency Powers in Theory and Practice (2006).
- Eric A. Posner and Adrian Vermeule, The Executive Unbound: After the Madisonian Republic (2010).
- Richard Nixon, Address to the Nation Outlining a New Economic Policy: "The Challenge of Peace" (1971).
- Paul A. Volcker, press conference of 6 October 1979 (1979): transcript, Board of Governors of the Federal Reserve System.
- Paul A. Volcker, Statement before the Joint Economic Committee of the U.S. Congress, 17 October 1979 (1979).