History & Area Studies / Thematic History / Economic History & Industrialization
Did France Cause the Great Depression? The Shocking Truth Behind the Global Meltdown
Conventional wisdom blames the U.S. Federal Reserve for the Great Depression. But groundbreaking research by economist Douglas A. Irwin reveals a far more surprising culprit: France. From 1927 to 1932, France hoarded a staggering 27% of the world's gold reserves, starving other nations of the liquidity they needed to survive. This video breaks down Irwin's controversial paper, showing how France's gold sterilization policy triggered a global deflationary spiral. Discover why the French central bank's obsession with gold may have been the real catalyst for the worst economic crisis in history. If you think you know the cause of the Great Depression, think again.
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