European Gold
I think I need to correct my accusation of Nazi looting of European gold. Much of the gold of western Europe actually wound up at Fort Knox. Moreover, the Allied powers stand accused of looting Nazi gold at the end of WWII.
I stand corrected. This may weaken my argument that loss of gold reserves prevented the return to a gold standard. Given how often countries fail to play by the rules of a gold standard, it's functionality was limited. We'll learn how these fixed exchange regimes are generally favored for their stability but often fail because of their rigidity.
I stand corrected. This may weaken my argument that loss of gold reserves prevented the return to a gold standard. Given how often countries fail to play by the rules of a gold standard, it's functionality was limited. We'll learn how these fixed exchange regimes are generally favored for their stability but often fail because of their rigidity.
