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The years between the First World War and 1944 were marked by numerous attempts to restore the gold standard system, which had collapsed at the outbreak of the war, when Great Britain and the rest of the European colonialists lost their world hegemony. All of the attempts to restore the gold standard system failed. By the beginning of the 1930s it had become clear that the numerous and uncoordinated exchange rate manipulations were destined to bring the world to catastrophe. Indeed, just before the Second World War the entire economic system of the world went into a gigantic crisis, the Great Depression.
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