The Great Depression
{"Image DocumentName": "The Great Depression", "Image ImageDescription": "In 1929 after the stock market crash banks in Austria, England ,and The United States experienced large declines in portfolio values. This set off a series of bank runs. Most countries focused on stabilizing their own national economies. They hoarded gold reserves which constrained monetary supply and hampered international trade. Britain especially experience severe outflows of gold (why ?) The British Pound was still the dominant international currency and Britain had exploited that fact incurring large trade deficits on currency backed by their own gold reserves. British gold reserves were devastated causing a general loss in confidence in the pound, which ended its use as the dominant international currency. Hoarding of gold became such a problem in the U.S. that in 1933 Franklin D. Roosevelt made it illegal to own more that  100 worth of gold. The government could confiscate gold in exchange for paper money. Britain was forced off the gold standard in Canada, Sweden, Austria, Japan, the US, and finally France followed between", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}