A post submitted by CGI member Deve23.

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In one of my article I discussed what are the causes behind The Great Depression of 1929. In this article, I will spread some light on why The Great Depression became a global phenomenon rather than affecting only limited economies.

In the last article, I discussed what are the causes behind The Great Depression of 1929. In this article, I will spread some light on why The Great Depression became a global phenomenon rather than affecting only limited economies.

Snip

How Great Depression spreads worldwide

The Gold Standard

Most money was paper based, as it is today, but governments were obligated, if requested, to redeem that paper for gold (Principal on which gold standard is based). This “convertibility” put an upper limit on the amount of paper currency a government could print, and thus able to prevent inflation. There was no tradition of continuous, modest inflation in those times. Most countries went off from the gold standard during World War I, and restoring it afterward became a major postwar aim

https://prepper1cense.com/2023/07/18/the-great-depression-why-it-spread-world-wide/