One evening in September Daniel found himself with nothing much to do after he had finished an afternoon lecture on the international monetary crisis.

The Goebbels report on how to avoid international monetary crises is, on the whole, accurate, reliable and reasonable.

Recent international monetary crises: Causes and cures, and Fixed, flexible, and gliding exchange rates, Brookings Institution, 1971.

But I personally fail to recognise this historic success over the last six months, and the astonishing suggestion that the euro has proved a stabilising factor in the face of international monetary crises.

Nixon's bumbling management of the international monetary crisis was one of the reasons why he was Watergated, and Big Jawn was certainly seen by the financiers as a big part of the problem.

The reason why the Watergate scandal escalated into the overthrow of Nixon has to do with the international monetary crisis of those years, and with Nixon's inability to manage the collapse of the Bretton Woods system and the U.S. dollar in a way satisfactory to the Anglo-American financial elite.