The removal of the gold standard was important in that it signaled the complete domination of the USD and treasury bills as the international standard. I think it’s pretty important in that it meant total capitulation of Europe to the US pushing their inflation onto other countries, thus worsening inequality there as they tried to make up for it by tightening the noose on labor.
The removal of the gold standard was important in that it signaled the complete domination of the USD and treasury bills as the international standard. I think it’s pretty important in that it meant total capitulation of Europe to the US pushing their inflation onto other countries, thus worsening inequality there as they tried to make up for it by tightening the noose on labor.