The President's News Conference in New York City
10/12/1966
https://www.presidency.ucsb.edu...
It was repelled because we stood firmly behind our pledge--which I reaffirm today--to convert the dollar to gold at $35 an ounce.
Nobody benefits from a wage-price spiral.
As world trade expands, so must the liquidity required to finance it.
If our prices rise faster than those of our overseas competitors, our exports will suffer and our imports will grow.