The financial landscape has been deeply impacted by unprecedented challenges, primarily stemming from the fragile international credit system. The events unfolding have highlighted the unsettling reality that such widespread upheaval had never been anticipated or experienced before. The turmoil emphasizes the inherent contradiction in attempting to maintain a functioning modern society while also preparing for war.

The quote underscores that the economic decline was triggered not by an actual conflict, but by the pervasive dread of potential warfare among European powers. This fear illustrates the vulnerability of global markets to political tensions and demonstrates the precarious nature of civilization when confronted with the threat of conflict.