How did it drop so much before 1921? Weren’t we on the gold standard?
Between 1914-1919, most countries suspended the gold standard so they could print enough money to pay for their involvement in the war. After the war, countries returned to a modified gold standard, but abandoned it during the Great Depression.
I’m guessing that WWI, money printing caused inflation, decreasing the purchasing power of domestic dollar holders.
The value of a commodity can change rapidly. LaRouche and Paul don’t like you to know this, but one good breakthrough in mining technology could wipe out the entire nation’s wealth if we switch to a gold or silver standard.