![The First Crypto Battle Might Result in Lasting Peace The First Crypto Battle Might Result in Lasting Peace](https://www.coindesk.com/resizer/VXPiseIe-CQt25Q4xmW2c4sChd0=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/DI4B5CZPJZB3NEPZ6R3JFQBFIU.jpg)
As soon as nationwide reserves sunk, governments needed to elevate taxes or promote bonds to proceed preventing. However in WWI, because the initially localized battle unfold, fiscal self-discipline failed. As Ammous explains, throughout the first month “all main belligerents had suspended gold convertibility, successfully going off the gold customary and placing their inhabitants on a fiat customary.”