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The Almighty Dollar: 500 Years Of The WorldS Most Powerful Money
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In This Ambitious And Groundbreaking History Of The Dollar, Financial Journalist And Economic Scholar Brendan Greeley Makes A New Argument About The Origins Of Our MoneyAnd The People And Nations Who Have Surrendered To It.Brimming With Startling Details, This Is Also Serious Financial History With A Conclusion Ripe For Our Unsettled Times: Rulers And Borders Come And Go, But The Dollar Has Outlasted Our Illusions Of Sovereignty And Control.Evan Osnos, Author Of The Haves And HaveYachtsamericaS Money Is Global MoneyNearly Every Nation In The World Writes International Contracts In Dollars, And In 2023, Central Banks Around The World Held Nearly $6.7 Trillion In Dollar Reserves, Three Times Any Other Currency. Today, The United States Global Hegemony Rests Largely On Its Ability To Produce Unlimited Treasury Bonds That Are Sold Around The World, Dollars That Supported AmericaS Explosive Growth In The Twentieth Century And Funded Its Massive Wars In The TwentyFirst. American Power And The American Dollar Have Become Synonymous.Yet In This Brilliant 500Year History, Brendan Greeley Argues That AmericaS Sovereignty Over The Dollar Is An IllusionThat The Dollar Had Already Empowered And Destroyed Nations Long Before It Washed Up On Colonial Shores, And That No Country Or King Has Or Can Ever Truly Control It. Reaching Back To The DollarS Birth As The Taler In The 15ThCentury Silver Mines Of St. Joachimsthal, Greeley Reveals How The Dollar First Thrived As A Commodity For Merchants And BankersA Big, Silver Coin That Was Trusted Around The World, Even As The Miners Who Pulled It From The Ground Had Trouble Getting Paid In That Same Silver. Greeley Traces A Captivatingly Complex Path Across Time And Place, From The Industrial Collapse At The Heart Of SpainS 17ThCentury Silver Empire, To The Birth Of American Paper Dollars In Colonial Maryland, 19ThCentury New Orleans Bank Failures, And The Small Town Of Hawarden, Iowa, Which Created Its Own Dollars During The Great Depression. At Every Surprising Turn, Greeley Upends Assumptions About Global Currencies And Draws Out The CenturiesOld Tension Between How Dollars Are Manufactured And Whom They Actually Serve.Singular In Its Breadth, The Almighty Dollar Dismantles The Myth That America Created Or Has Ever Truly Controlled The Dollar. Through Meticulous Research And Vividly Rendered Stories Of Merchants, Monarchs, And Everyday People Both Past And Present, Greeley Shows How The Dollar Became AmericaS Greatest Export, Spawning A Vast Financial Industry That Enriches The Wealthy, Even As The Rest Of The CountryS Industries Suffer.
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