Breakdown of the Gold Standard | The Twilight of Gold Series | Episode 10 (WiM178)
The "What is Money?" Show
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The Germans Didn't Know What Was Happening
There was a lot of reservation demand for marks in expectation of winning the war and imposing, i guess, tribute on the loser to pay for the war. Once that was basely nullified with the signing of the treaty of versailles, then people wake up to the reality that those marks are going to get depreciated after the war. The problem is that in order to fix it, you have to have someone accept a cost. And that's where no one's willing to step up and pay the price.
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