The EMS was created in response to the collapse of theBretton Woods Agreement. Formed in the aftermath of World War II (WWII), the Bretton Woods Agreement established an adjustablefixed foreign exchange rateto stabilize economies and consolidate global financial power among the Western Allied nations...
Marine Corps was sent to China in January 1927 to protect American citizens—and U.S. business interests—there in the midst of Shanghai’s ongoing civil unrest. Called the “China Marines,” these members of the military would remain in Shanghai through 1941. On April 12, 1927, 5,000 ...
He died just before my family’s first visit there. His house on Lake Huron was purchased by parents of one of my Detroit classmates. So I often played near and sometimes in that huge dark house made of large dark logs with the largest porch I’d ever seen at the top of Cliff Road...
The gold standard was completely replaced byfiat money, a term to describe currency that is used because of a government's order, or fiat, that the currency must be accepted as a means of payment. In the U.S., for instance, the dollar is fiat money, and in Nigeria, the naira is. ...