Changes

The United States Dollar is the official currency of the United States. It is also widely used as a reserve currency outside of the United States, to the chagrin of liberals who would like to think that mounting trade deficits are weakening the value of the dollar against the Euro.  In fact, it's only that high inflation rates exist in Europe because of their socialist policies, while the American dollar is undergoing a small, natural, adjustment.

The United States Dollar is the official currency of the United States. It is also widely used as a reserve currency outside of the United States.

Until 1974, the value of the United States dollar was fixed to a value of a fixed amount of a precious metal. Between the late 18th century and the late 19th century, the [[United States]] dollar was fixed to the value of either gold or silver in a system known as bimetallism.  In the early 1970's, the [[trade deficit]] and [[inflation]] in the United States, caused a run on the gold reserves used to back the United States dollar. This forced the United States to delink the value of the dollar from a specific amount of gold.  Currently, the issuance of currency is controlled by the Federal Reserve Banking system.

Until 1974, the value of the United States dollar was fixed to a value of a fixed amount of a precious metal. Between the late 18th century and the late 19th century, the [[United States]] dollar was fixed to the value of either gold or silver in a system known as bimetallism.  In the early 1970's, the [[trade deficit]] and [[inflation]] in the United States, caused a run on the gold reserves used to back the United States dollar. This forced the United States to delink the value of the dollar from a specific amount of gold.  Currently, the issuance of currency is controlled by the Federal Reserve Banking system.