Showing results for "Reserve" in Americas

Debates over paper money and banking are older than the United States of America itself. Eighteenth and 19th century Americans were deeply ambivalent about paper money and central banks, and political fights over these issues were among the bitterest in American history. In fact, controversies over the country’s central bank birthed both the first (1792-1824) and second (1828-1852) party systems. Frequently, policymakers crafted responses to the crisis at hand, and as a result, they implemented policies that were inadequate to the challenges the country faced in the future.

THE NATIONAL BESTSELLER Winner – 2023 Stubbendieck Great Plains Distinguished Book Prize Winner – 2023 John W. Dafoe Book Prize Winner – 2023 High Plains Book Award for Indigenous Writer Winner – 2022 Manitoba Historical Society Margaret McWilliams Book Award for Local History Finalist...

Sixty years ago, economist Robert Triffin warned that the U.S. dollar could suddenly drop in value, if the United States used the dollar as the world's reserve currency. America's leaders, determined to obtain as much power as possible, insisted on internationalizing the dollar. They flooded world markets with dollars, initially backed by gold. When they ran out of gold, the United States backed the dollar by means of oil from the Middle East. Today, Triffin's warning is as prescient as ever. The U.S. dollar is unstable, and could collapse in value.

Cheated is a gripping story of single-minded politicians, uncompromising Indian Affairs officials, grasping government appointees, and well-connected Liberal speculators, set against a backdrop of politics, power, patronage, and profit. The Laurier government's settlement of western Canada can never be looked at the same way again.