The bureaucratic gold battle was resumed with vigor [in February 1963]....The chairman of the Policy Planning Council, Walt Rostow, argued that the United States's diculties were the product of the dollar being "a unique reserve currency which leaves us vulnerable to sudden withdrawals." Explicitly rejecting troop withdrawals [from Europe], Rostow wanted to "spread the burden" of maintaining a reserve currency to the surplus countries of the world...Dillon vehemently disagreed and argued that Rostow's plan would put the United States "in a position similar to Brazil or Argentina, who, when they cannot pay their debts, go to their creditors and get an agreement to stretch out the debt over a period." Dillon charged that this represented the irresponsible views of those in State and on the CEA who wanted "this very real problem [to] go away without interfering with their own projects, be they extra low interest rates in the U.S. or the maintenance of large U.S. forces in Europe."..
Seth