Gold was $20 per ounce and circulated freely with other money and currency in 1929.
In 1933, FDR came along and said gold was $35 per ounce and no American was allowed to possess any of it.
But that wasn't inflation, was it?
ML/NJ
Depression means as it says, prices for everything are depressed. Inflation is the exact opposite. You can’t have both at the same time.