1. Great Depression
Many countries stockpiled their extra reserves, and although this may be seen as waiting for higher prices in a period of economic growth, it definitely indicates a volatile food market. ... Also, nations could hold part of their reserve in foreign currency, since gold supply was limited. ... A second weakness in the system was the fact that the U.S. and France increased their gold reserves well beyond what they were liable for, whereas other countries had shrinking gold reserves and liability beyond their actual holdings. ... A third weakness was each country's ability to hold part of...
- Word Count: 1758
- Approx Pages: 7