The Gold Standard and the Gold Exchange Standard of the US

The gold exchange standard was a weak element of the post orld war one international monetary system that ultimately blew up. France, which was part of this deal, decided to accumulate gold in the 19 twenties. And it was hoarding all this gold. The us. Was also r hoarding a fair amount. Ultimately britain became the big victim, and it couldn't sustain its gold standard. But we dragged down many countries with us when we collapsed, because they relied so heavily on trade with us. There there's the great depression in what doesn't sound to your audience like a nutshell, but believe me, it is.

Play episode from 19:04

Transcript

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app