Dbq Great Depression

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A kind of monetary system which directly links value of currency to that of gold.
Effectively abandoned in 1933 but continued to allow foreign governments to exchange dollars for gold until 1971.
Great Depression – In early 1930’s, it became difficult for USA to stimulate the economy because of increasing unemployment.
Government had high interest rates which made it difficult for people and businesses to borrow.
Gold supply was also unreliable and FRB was unable to circulate more money into the market resulting in driving down of wages and stifling investment.
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