The almighty dollarThe US dollar's role as the world's reserve currency dates back to the 1944 Bretton Woods Agreement, when 44 countries agreed to peg their currencies to the dollar. It has since maintained its position through sheer economic momentum and trust. Being the world's reserve currency gives the US the ability to borrow more cheaply, conduct international trade in its own currency, and project financial power globally.
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Similar ideas to 📖 A Little Context: The almighty dollar
After the Breton Woods agreement, all the world currencies were pegged to the dollar, which was in torn pegged on gold. But in 1974 the US dropped the gold backing and $ became free-floating. The US maintained their currency supremacy by making sure all the Middle East oil producers would only tr...
1933 - President Franklin D. Roosevelt had gold confiscated and people were forced to accept paper money for their gold. The government needed people to adopt the inflated paper and they used force.
1940s ...
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