Part 3: The Gold Standard Shatters

Depositors outside a closed DANAT bank branch— Photo from Getty Images The climax of the Great Depression occurred in 1931. Several currency and banking crises swept across Europe. After years of deflation, banks had grown fragile. Loan losses and deposit withdrawals put Europe’s solvency in…#danat #greatdepression #austria #austrian #firstworldwar #creditanstalt #cledermann #austrianschilling #reichsbank #danatbank
Source: Reuters: Health - Category: Consumer Health News Source Type: news