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11: The Great Depression Pt. 1 - The Crash

History of the Second World War

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The History of the Gold Standard

Before the First World War, most international trade occurred between nations and empires that held two currencies. This was a period of relative economic stability for Europe - which was the driver of most international trade at the time. The gold standard also placed tight constraints on the government's actions in response to negative economic trends. With the cost of the war and its disruption of international economic systems around the world, all of the major participants broke away from the gold standard early in the conflict.

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