At the end, it is the credit collapse of fiat currency spam. The Bretton Woods system of 1944 established the U.S. dollar's status as the world currency. The U.S. dollar was linked to gold, and the currencies of other countries were linked to the U.S. dollar.
Because under the Bretton Woods system, currencies of all countries have a clear gold content, so the currencies at this time are all commodity currencies. In the era of commodity currencies, central banks of various countries.
They don’t have the ability to print a lot of money, and print as much money as they dig up. There is a fixed ratio between the amount of money and the reserves of gold. Because the speed of gold mining is very slow.
Therefore, the rate of currency issuance is very slow. In the era of commodity currency, not only will money not become gross, but it will also be deflationary. At this time, the money is deposited in the bank for a fixed interest.
It is the best investment. Later, because the US dollar was issued indiscriminately, the number of US dollars was no longer linked to the gold reserves. The Bretton Woods system disintegrated in 1971, the currency cycle we are in.