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How the British Empire Destroyed Its Own Economy - Britain's Economic Suicide

Discover the untold story of how Britain's obsession with the gold standard led to economic catastrophe and the fall of an empire. After winning World War I, Britain was left financially devastated—national debt exploded to 160% of GDP, and exports collapsed by 40%. Instead of adapting to the new economic reality, British elites made a fateful decision: return to the gold standard at the pre-war exchange rate of $4.86 per pound. This choice, driven by pride and nostalgia, triggered a decade of deliberate deflation, mass unemployment, and social chaos. Winston Churchill's 1925 budget speech locked Britain into what economist John Maynard Keynes called a "golden straitjacket"—artificially overvaluing the pound by 10% and making British exports uncompetitive worldwide.

This video explores the devastating consequences of prioritizing currency prestige over economic reality. From the 1926 General Strike and the suffering of coal miners to the 1931 financial crisis and naval mutiny at Invergordon, you'll see how Britain's determination to defend a symbolic exchange rate crushed its industrial heartland, fueled political extremism, and ultimately weakened the empire before World War II. By the time Britain finally abandoned the gold standard in September 1931, a decade of unnecessary suffering had already inflicted permanent damage. Learn how this economic suicide mission changed the course of history and why the lessons of the "golden straitjacket" remain relevant for governments today.

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Disclaimer: This video is for educational and informational purposes only. It is not financial, investment, or economic advice. We are not responsible for any decisions made based on the content presented. Always consult with qualified professionals before making financial decisions.