One Nation Under Gold: How One Precious Metal Has Dominated the American Imagination for Four Centuries by James Ledbetter

Author:James Ledbetter [Ledbetter, James]
Language: eng
Format: azw3
Publisher: Liveright
Published: 2017-06-13T04:00:00+00:00

A situation is brewing up in the world economy with some dangerous overtones of the 1929/31 disaster. If a crisis were to occur, the economic consequences might be so considerable a dislocation of world trade that depression and massive unemployment could appear in Europe and deflation spread quickly to the developing continents. This in turn would have profound political effects. The Russians might scent the long-hoped-for failure of capitalism and revert to hard-line adventurism and hostility. Despair in the poorer countries would cancel out present disillusion with China and its cultural revolution. The world could tip dangerously away from its present not wholly ineffective “coexistence.”

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