Milestones 1. 96. Office of the Historian. On August 1. 5, 1. President Richard M. Hazelden Betty Fords addiction treatment center in Newberg, Oregon offers inpatient and outpatient treatment, as well as recovery management services. Read our FAQs to learn about addiction treatment programs and services at the Hazelden Betty Ford Foundation as well as costs, insurance coverage and more. For Buying or Selling, It Pays To Know Used Car Milestones Using a Cars Key Mileage Figures To Buy or Sell. Ford Program Milestones' title='Ford Program Milestones' />Nixon announced his. New Economic Policy, a program to create a new prosperity without war. Known. Nixon shock, the initiative marked the beginning of the. Bretton Woods system of fixed exchange rates established at the end. World War II. Secretary of the Treasury John Connally on the day that President Richard. Nixon announced his New Economic Policy, August 1. Nixon. Presidential LibraryUnder the Bretton Woods system, the external values of foreign currencies were. Bwalignc textalign center CORRECTING and REPLACING MULTIMEDIA Ford Motor Company Overall Sales Down 7. Percent in July, Driven Largely by. By David Shepardson WASHINGTON, July 21 Ford Motor Co will petition to avoid a U. S. recall of about 2. Takata airbag. U. S. dollar, whose value was in turn expressed in gold. By the 1. 96. 0s, a surplus of. U. S. dollars caused by foreign aid, military spending, and foreign investment. United States did not have enough gold to cover. Presidents John F. Kennedy and Lyndon B. Johnson adopted a. Bretton Woods foreign. Nothing worked. Meanwhile, traders in foreign exchange markets. U. S. government to devalue it, proved increasingly inclined to sell dollars. This. resulted in periodic runs on the dollar. It was just such a run on the dollar, along with mounting evidence that the. President Richard M. Nixon to act. On August 1. Nixon convened a. Secretary of the Treasury John. Connally and Office of Management and Budget Director George Shultz, at the Camp. David presidential retreat to consider a program of action. Notably absent from. Secretary of State William Rogers and Presidents Assistant for. National Security Affairs Henry Kissinger. After two days of talks, on the. August 1. 5, Nixon announced his New Economic Policy in an address to. The Challenge of Peace. Asserting that progress in bringing an. U. S. involvement in the war in Vietnam meant that it was time for. Americans to turn their minds to the challenges of a post Vietnam world, Nixon. We must create more and better jobs we must stop. To achieve the first two goals, he proposed. Nixon. directed the suspension of the dollars convertibility into gold. He also. ordered that an extra 1. United States major trading partners to adjust the value of their. United States. A success at home, Nixons speech shocked many abroad, who saw it as an act of. Connally conducted the. Nevertheless, after months of negotiations, the Group of. Ten G1. 0 industrialized democracies agreed to a new set of fixed exchange. December 1. 97. 1 Smithsonian Agreement. Although characterized by Nixon as the most significant monetary agreement in. Smithsonian. Agreement did not last long. Fifteen months later, in February 1. Install Ubuntu Software Center In Kali Linux Background. Several weeks later, the dollar was yet again subjected to. Bretton Woods. In March 1. G1. 0 approved an. European Community tied their currencies. U. S. dollar, a decision that. Bretton Woods fixed exchange rate.