What happens when there is a sudden change in the global monetary standard? When multiple countries move to a different standard?

Silver standard lasted for three centuries and was the currency that underpinned the first phase of true globalization. It was the currency for trade and commerce in Asia, Europe and Americas.

Then suddenly Germany, France and the United States decided to abandon the Silver Standard, all in the same year. What resulted was not pleasant. Dropping next week, my follow-up to this article, I wrote 20 months ago.