Re:MasterCard to open up network to cryptocurrencies
by BenoitEssiambre on Saturday February 13, 2021 @09:00PM
(#26128995)
"The gold standard was the primary transmission mechanism of the Great Depression..."
https://en.wikipedia.org/wiki/Great_Depression#The_gold_stan...
I mean, it wasn't strictly gold hoarding it was gold tied currencies hoarding.
Perhaps the pre-WW1 period is too different from today because we're still living in the 100-year+ experiment if central banks and applied Keynesian theory. If the Austrian school's business cycle theories are correct, recessions are longer and more painful under central banks' manipulated monetary markets because malinvestments are rarely cleared from the economy: those enterprises get bailed out instead, and taxpayers foot the bill.
Do you have a source for asserting that people saving gold caused the great depression?