John Fredrick Parker
Donor
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?
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?