The arms race increased tensions because in 1949 the US SR tested its first automatic bomb this lead to a race to amass the most powerful nuclear weapon. Tensions were greatly increased because the USSR had tested its first atomic bomb and then, the USA had to do the same, and develop better weapons so that if the USSR would strike them, they were able to strike back.
The banking system was taken off the gold standard as part of the nation's recovery from the Great Depression. During the Great Depression all of the banks crashed and millions of people were left broke.
