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Opinion

Understanding the real impact of the 'Nixon Shock'

How best to control money still eludes the world's advanced economies

| U.S.
President Richard Nixon, pictured in his White House office after delivering a nationwide television addressposes on Aug. 15, 1971: it still deserves to be remembered as a shock.   © AP

Masaaki Shirakawa is a former governor of the Bank of Japan.

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