We had currencies backed by gold for hundreds of years before the great depression without anything equivalent happening. The great depression happened soon after US momentary creation was handed over to the private Federal Reserve.
The Panic of 1837 (followed by a five year depression) would like a word. And the panic of 1873 (four year depression), the depression of 1882, the panic of 1893, and the panic of 1907.
> The great depression happened soon after US momentary creation was handed over to the private Federal Reserve
Correlation =/= Causation.
The Great Depression was caused by American overproduction and a lack of domestic buyers who could afford to purchase American goods (sound familiar?). This was back when America was still functionally a developing country.
