Let’s look at what’s likely to happen if the US dollar slowly loses its dominance and eventually stops being the reserve currency of the world. • Demand of US dollar will drop. World trade settled in US dollar, ~60% now, will decrease. World-wide US dollar-based debt issuance, ~...
The article examines the beginning of the U.S. national currency system in the 1850s and the early years of the Civil War, before the National Banking Acts created a common currency. Until then, the circulation of bank deposit money through the highly decentralized banking system dominated the...
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Over 200 fans have voted on the 10+ items on All The Currency That Existed In The United States Before The USD. Current Top 3: 1600s: Spanish Pieces Of Eight, ...
The ships built in Britain and France were paid for in cotton, the only real currency the South possessed in any quantity. Bulloch also handled the financing of blockade-runners. Several Confederate commerce raiders became blockade-runners under new names; others had been blockade-runners before be...
The canal deteriorated during the Civil War. In 1869, the company's annual report said, "During the last ten years little or nothing had been done toward repairing and improving lock-houses, culverts, aqueducts, locks, lock-gates and waste weirs of the Company; many of them had become ent...
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In addition, new debt and debt currency has to be created just to cover the compounding interest. An ideal "Ponzi scheme." Keep in mind that bonds are IOU's and are to be paid back by the people through their future labor or the labor of their posterity. That is why wars are ...
1781, adopting (1787) a new constitution that went into effect after 1789. The nation soon began to expand westward. Growing tensions over the issue of black slavery divided the country along geographic lines, sparking the secession of the South and the Civil War (1861-1865). The remainder ...
Donald Trumppledgedthat he would stop China’s “outrageous” intellectual property theft and currency manipulation while looking into renegotiating its trade deals. At the time, the Chinese government lambasted the Republican candidate and his party for throwing “groundless” accusations at them and me...