Gold Standard w/o WWII?

Let's say, with a 1932 PoD, Hitler doesn't come to power and WWII is prevented; what I'm specifically interested in here is how that affects the monetary policy of the world economy at large.

AIUI, OTL saw most of the world drop the Gold Standard during the Great Depression; then came WWII, toward the end of which saw the Bretton Woods Agreement. In (very) short, the nations of Europe et el would peg their money to the dollar, which in turn was to be pegged to gold; this lasted until 1971, when the US dropped the GS, while most of the world economy continued to be pegged to the US dollar, effectively creating our modern floating currency economy.

So what happens if, after the monetary adjustments of the Depression, no World War comes? Does the developed world (the US, Europe, et el) start to move back to the Gold Standard as their economies recover? Or do we see the earlier emergence of global fiat currency, but less dominated by the US dollar? Or something else entirely?
 

Deleted member 1487

Everyone but the gold bugs wanted to get off it. The Germans were moving in that direction, but Versailles and Hitler prevented it because he wanted control over the currency that free floating wouldn't give. Likely the Germans dump gold ASAP without Hitler and Schacht, assuming he gets into a position of authority, works out a bunch of trade deals and clearing arrangements, plus gets into trade dumping to pump up the German global position. Without rearmament Germany could export tons more, especially military equipment and actually end up dominating a lot of lucrative markets and outcompeting the Brits. China could end up being a super market for them if Japan isn't allowed to get away with invasion sans Hitler. The French will cling to it longer without having to worry about rearmament, same with the Brits. The US had dumped it during the Depression, but might come back to it like they did after WW2 if the economy stabilizes. I think it will continue on in economically conservative circles while risk taking states with little options to accumulate gold, like Germany, are an example of what a long term free floating currency looks like. There will not be a petrol dollar or a US let global economy system like Bretton Woods even if FDR somehow gets Europe to work with him on a global response to trade collapse. There is too much opportunity for Germany to want to work with the US on an international system, because in the chaos they can use their economic leverage to create a neo-colonial empire sort of like what China is doing in Africa now. Ironically the Gold Standard colonial states will be in serious trouble when their colonies break off, because they are totally unprepared for global competition for markets in the post-gold new age. The world will probably look like more of barter economy with trade blocs on a new neo-colonialist model ironically led by Germany, who IOTL under Hitler was more concerned about forming an old school empire in Europe; Schacht might well be the 'wizard' the creates the new game in the anarchy that is the world trade system post-Depression and during the collapse of the imperial systems.

This book lays out what Schacht was trying to do and might well prove to be the model for European states as their empire collapse:
https://www.amazon.com/Hitlers-Shadow-Empire-Economics-Spanish/dp/0674728858/ref=asap_bc?ie=UTF8

Germany IOTL post-WW2 did pursue a somewhat similar policy of finding captive markets to exploit via capitalism rather than mercantilism. The German corporate model of cartelism would be pretty formidable and aimed and conquering foreign markets. As it was companies like IG Farben dominated Latin American pharmaceutical markets until WW2 cut them off and the US took that over, so as per their pre-war bi-lateral trade deals they will try and create barter deals to get around the lack of cash/gold and make gold effectively superfluous in their model, which I think might evolve into an alternative system that countries would adopt that don't want to play by the gold rules.
 
Currency pegs, whether to another currency, gold or any other asset, are best used to ensure stable trade. It makes it easier for companies to do business if they can plan for their costs and revenues and floating currencies wreck all sorts of havoc on this. The downside is that it limits your fiscal and monetary tools needed for running a country. Further, for a peg among a series of relatively equal size and importance, there needs to be some coordination to ensure the currencies remain tied. Bretton Woods worked because the US was the dominant currency in the West and all the parties were willing to work together to develop stable economic ties in the interest of rebuilding their economies post WWII and develop trade. So would a multipolar geopolitical order revert to the gold standard? What would be their motivation so soon after the depression with no war to upend the current order of things? So, probably not. But, getting rid of Hitler and WWII, so radically changes things that it can go a number of ways and still be plausible as long as the relationships and motivations make sense.
 
Non PC theory:
Some state will do it.
It is game theory prisoner dilema without USA hegemony there is noone to ban it.
Google Kadafi Wiki leaks and Gold standard.
 
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