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Business, 07.04.2020 17:46 mikeydog3781

In 1929, the global financial system was based on the gold standard and was extremely vulnerable to any financial downturn escalating quickly to catastrophic economic meltdown. As the financial markets collapsed, thousands of banks collapsed as people withdrew their savings in the fear that paper money would no longer be backed or redeemed for gold. True / False.

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In 1929, the global financial system was based on the gold standard and was extremely vulnerable to...

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