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Give a brief description of the Gold Exchange Standard of 1925-1931. How were trade imbalances settled given this system? What was the rules of game?

Give a brief description of the Gold Exchange Standard of 1925-1931. How were trade imbalances settled given this system? What was the "rules of game"? What were the flaws of the system that led to the "Beggar Thy Neighbor" currency wars?

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