While the United states Armed Forces (private mercenaries) are in Vietnam, “united in … determination to take all necessary measures in support of freedom,” Republican de facto President Nixon swears in Arthur F. Burns, his Counselor to the President as Chairman of the Federal Reserve Board of Governors (a Federal agency) that oversees the privately owned Federal Reserve System of (central) Banks.  Publicly Nixon says of Burns, “I respect his independence … I hope that independently he will consider that my views are the ones that should be followed.”

       NOTES:

• Privately, Nixon told Burns that he would be appointed only if he agreed to ease credit restrictions when he runs for re-election in two years.  Nixon blamed his 1960 defeat on the tight credit policy of the Federal Reserve Open Market Committee, which always hurts the status quo party of the incumbent.  Whereas, when the FOMC has followed an easy credit policy, the status quo party of the incumbent has been helped.
• As an attorney (Officer of the Court) Nixon was ineligible to serve in two branches of government at the same time, according to Article I, Section 6 [Clause 2].
• This is the further realization of plank number five of the “Communist Manifesto” by Karl Marx.

       [restored 10/26/2022]