Dollar

The United States has long been considered the dominant global superpower. A major factor in its ascendancy has been the dominance of the US dollar as the world's reserve currency. This status has given the US a unique and powerful weapon: the ability to use the dollar to exert economic pressure on other countries. The History of the Dollar as a Global Currency The US dollar has been the dominant global currency for much of the 20th century, and its status was cemented in the aftermath of World War II. As part of the Bretton Woods Agreement, many of the world's leading economies agreed to peg their currencies to the dollar, which was, in turn pegged to the price of gold. This system allowed for stable international trade and finance, and helped to establish the dollar as the de facto ...