In 1944, with World War II still raging, the world’s leaders knew one thing for sure: when the war ended, they couldn’t go back to the old financial system that had failed so badly before. The gold standard had collapsed…
So, World War I had shattered the gold standard, and by 1919, the global economy was a complete mess. Governments had printed mountains of unbacked paper money, inflation was out of control in some countries, and no one really knew…
Alright, let’s talk about how the gold standard—once the backbone of the world economy—completely fell apart. For decades, the system worked like a charm: money was backed by gold, exchange rates were stable, and international trade was booming. But there…
