What happened in the 1930s during the worldwide depression that led to World War II?
Reparations imposed on Germany following WWI left the company poorer and economic woes caused resentment amongst its population. The Great Depression of the 1930s and a collapse in international trade also worsened the economic situation in Europe, allowing Hitler to rise to power on the promise of revitalization.
What was the main reason why the Great Depression was felt so financially in Europe even before the actual stock market crash?
Q. (DOK 2) What was the main reason why the Great Depression was felt so financially in Europe, even before the actual Stock Market Crash of 1929? The financial cost of building up the military to defeat Hitler. Too many nations were spending and investing money in the United States.
What was the worldwide impact of the Depression of the 1930s?
The most devastating impact of the Great Depression was human suffering. In a short period of time, world output and standards of living dropped precipitously. As much as one-fourth of the labour force in industrialized countries was unable to find work in the early 1930s.
Which was a result of the Great Depression?
The Great Depression of 1929 devastated the U.S. economy. A third of all banks failed. 1 Unemployment rose to 25%, and homelessness increased. 2 Housing prices plummeted 67%, international trade collapsed by 65%, and deflation soared above 10%.
When did FDR devalue gold?
A
Why did the US go off the gold standard in 1971?
President Richard Nixon’s actions in 1971 to end dollar convertibility to gold and implement wage/price controls were intended to address the international dilemma of a looming gold run and the domestic problem of inflation. In the 1960s, European and Japanese exports became more competitive with US exports.
Is money still backed by gold?
The United States dollar is not backed by gold or any other precious metal. In the years that followed the establishment of the dollar as the United States official form of currency, the dollar experienced many evolutions.
Why did money become worthless in Germany?
Germany was already suffering from high levels of inflation due to the effects of the war and the increasing government debt. In order to pay the striking workers the government simply printed more money. This flood of money led to hyperinflation as the more money was printed, the more prices rose.