the U.S. dollar ($)
From as early as the first colonies in the 1600s, the dollar has a fascinating history that few other currencies can match. Below will be the events that, in my opinion, have shaped the modern dominant currency we are so used to today.
The more recent the events, the longer the post will be. The first few posts will be relatively short, but eventually, it gets really, really, long.
Colonial U.S. did not possess a single “dollar,” but rather a collection of different currencies. This section will discuss how these currencies interacted at the time.
The Birth of a National Dollar + An Experiment in Centralized Banking
After gaining independence, America established its own currency by the name of the “dollar.” This section will discuss how the original dollar differentiates from the dollar’s today, and how it tried (and failed) with centralized banking.
The Civil War marks one of the most important periods in the history of the U.S. dollar, for one can argue that it is during this war that the first iteration of the modern-day dollar appeared. However, all was not smooth-sailing during this time.
While today’s currencies have become completely fiat, those of the past had to depend on a metallic backing system to be able to retain public trust. Yet, over time, the existence of both metals oversaturated the monetary system, leading to a furious battle over what should remain, and what must go.
The Federal Reserve – No Longer an Experiment
After the end of the Second Bank, no other notable attempt was made to centralize the banking ecosystem in the U.S. It is for this very reason that the formation of the Federal Reserve marked a huge turning point in the history of the U.S. dollar.
Before the U.S. dollar, the most dominant currency was undoubtedly the pound sterling. This will be one of, if not the,, the longest sections, detailing the transition of power between the pound and dollar.
The limitations of the gold standard were clear in the aftermath of World War I. This section examines the slow but steady separation from gold by most major monetary systems of the world.
Currency Cornucopia 