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Why usa Dollar Is A Global Currency?
Nation can purchase goods from other nations when there is currency.
Currency can be printed depending upon the gold stocks.
Nations strength depends upon gold reserves.
Another way is.
Currency can increase if the nation produces more goods. Because currency can purchase gold.
Beginning of 1900 uk United kingdom was producing more maximum goods in the entire world.
Uk was getting more currency by selling goods. Thus collecting gold deposits. Surplus gold.
This increased the value of uk sterling pound.
60 percentage of world market was trading in sterling pound currency.
Similar to todays usa dollars.
Many nations started collecting sterling pound instead of gold.
Increasing currency values.
In 1930 everything started changing.
Usa dollar started gaining value due to starting of first world war.
Due to war uk creates debit loans of 25 percentage of uk's gdp.
Thus reduction in gold deposits due to expenditure for war.
Instead of producing goods uk was importing goods.
Usa was producing ammunitions and selling to other nations. Creating more surplus currency and gold deposits. But usa was lacking central banks and trade administration restrictions.
Thus usa started central banks.
And created federal reserve acts laws administration.
Established in global world economy.
Beginning for usa.
Today usa is not a big exporter.
Imports skilled technical resources from India.
In the second world war usa collects maximum 70 percentage of gold reserve in the entire world.
22 thousand tonnes of gold deposits. By exporting.
Replacing sterling pound by usa dollar.
Germany printed 5 lacks fake sterling pound currency to be introduced in global world economy.
Why usa Dollar Is A Global Currency?
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