U.s. Dollar s World Reserve Status - 2027 Words

Throughout the 20th century, the United States has slowly constructed a global system of control. Its superior military, weaponry and intelligence apparatus have been crucial in this system, but an equally important factor has been its control of the global economy, and its primary weapon, the U.S. Dollar. The dollar’s world reserve status alone does not make it unique, but its deeply rooted role in American and global geo-politics certainly does. As Vassili Fouskas and Bà ¼lent Gà ¶kay point out in their book The New American Imperialism, â€Å"Dollar hegemony has always been strategic to the future of American global dominance, in many respects more important than America’s overwhelming military power. While military power is more visible and useful as a display, it is the dollar’s role as reserve currency that secures the domination of the U.S. in the global economic market place†. [1] This system is built on serious fault lines and its future is the most important issue for international relations today. To understand how the dollar secures American hegemony requires some review of history. After the Great Depression and World War II, the economic structures of the Old World powers were destroyed and in dire need of reconstruction. Only America remained in one piece, a situation that allowed it to decide how the new world order would work. As World War II was ending, representatives from the Allied nations were gathered in Bretton-Woods, New Hampshire, where negotiations for thisShow MoreRelatedAnalysis Of The Book Century Of Enslavement Essay1366 Words   |  6 PagesU. S. MONETARY POLICY Where do we come from? How did we get here? These are questions each one of us eventually asks ourselves and, in so doing, searches for the answers. It is intrinsically woven into us to know the basis of what sustains us. Why is it then, that the general public is satisfied in knowing only about current celebrity gossip and is content to remain ignorant when it comes to where our currency originates and how it is produced? Some may find it too confusing and overwhelmingRead MoreInternational Economics Paper : Wal Mart Essay1269 Words   |  6 Pages International Economics Paper Name Institution Outline 1. Introduction 2. President and Congress 3. The Federal Reserve 4. What motivates policymakers to stimulate or contract the economy? 5. Effect of Strength of other Economies on the Organization 6. Recommendations 7. Conclusion 8. References Introduction Wal-Mart is an American-based retailing company that has ventured into the international market with the aim of taking over some of the emerging marketsRead More Decline of US Dollar2484 Words   |  10 PagesStates dollar has been the central reserve currency for the world. A reserve currency, also referred to as an anchor currency, is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves (Carbaugh, 2011). As the world’s reserve currency, the U.S. dollar is used throughout the world as a medium of exchange and is used as the global currency for products traded within the global market. In recent years the status of the U.S. dollarRead MoreWhy did the Bretton Woods system came to an end?1504 Words   |  7 Pagesthat hinder trade. The International Monetary Fund (IMF) and the World Bank were conceived by the Bretton Woods system (International Monetary Fund). The countries that joined the IMF adopted an alternated version of the former gold standard’s fixed exchange rate system. Members of the IMF agreed to keep the value of their currencies in terms of the U.S. dollar, and the U.S. dollar was fixed by the value of one ounce of gold at 35 dollars. Additionally to the gold standard, governments agreed to interveneRead MoreFuture Of The U.s. Dollar2712 Words   |  11 Pages Future of the U.S. Dollar Today, the world economy, after witnessing the greatest hit in 70 years, is wondering what life will look like after the storm has settled. It is grappling with the fundamentals of unemployment, increasing inflation, current account deficits, negative growth, and zero interest rates along with it, depreciating the value of money. In the midst of all this the future of the U.S. dollar is uncertain. Will the dollar maintain its reserve currency status even after its depreciationRead MoreThe Internationalization Of Chinese Currency1259 Words   |  6 Pagesdevelopment. Therefore, more and more attention has paid to the internationalization of Chinese currency (RMB). Benjamin J. Cohen suggests that, with huge and well connected economic base, the opportunity for RMB’ internationalization is obvious, but China s underdeveloped financial system and financial markets, cumbersome capital control, make RMB internationalization face difficulties (Cohen, 2008). This paper departure from international currency, and then further discusses about the meaning and currentRead MoreFall Of American Power1504 Words   |  7 PagesFollowing the Cold War, and the collapse of America’s economic rivals from the time, the implosion of the Soviet Union and Japan’s economic deflation in the early 1990’s, the United States held important roles in international politics that went beyond its extensive military arsenal and nuclear capacities. The U.S., which was then considered an incomparable and unattainable power, sat on top of an influential global economy power capable of stimulating other nations to want to follow on its pathRead MoreWorld War I And The Great Depression1598 Words   |  7 PagesBefore World War I, the United States was in a period of isolationism, and a determination to stay out of European wars and affairs, while trying to maintain its status as one of the world’s biggest superpowers, militarily and economically (â€Å"United Sta tes Before†). America was just exiting the Gilded Age, which was an important time of growth and prosperity. Despite this, the American economy was in a small recession when entering the war, which was reversed by a 44 month period of growth causedRead MoreUnited States : Current Political Structure971 Words   |  4 Pagesmajority rule is tempered by minority rights protected by law. The government is regulated by a system of checks and balances defined by the U.S. Constitution, which serves as the country s supreme legal document. In the American federalist system, citizens are usually subject to three levels of government: federal, state, and local. The local government s duties are commonly split between county and municipal governments. In most cases, executive and legislative officials are elected by a pluralityRead MoreHow Theu.s Dollar Became The Worlds Most Dominant Reserve Currency2091 Words   |  9 PagesThe objective of this paper is to give a clearer picture to how the U.S dollar became the world s most dominant reserve currency . Several countries use it as their official currency, and many others use it as the de facto currency . Moreover, American dollar is the primary reserve currency, which is used as the standard unit in international market for commodities such as gold and petroleum. However, the dollar has been declining over the last three decades; in fact it has lost almost half its

When Everything Changed Free Essays

I slowly looked around, detached from reality. The news hit me like a formidable black train. Silence  coated the room filled of  anxious yet unusually quiet cheerleaders like a heavy snow on the mountain peaks from where we came from. We will write a custom essay sample on When Everything Changed or any similar topic only for you Order Now Every familiar face I could  find grew cold and stern. All hopes of  a  national title flew out of the window before the judges could even  mutter  the two words  that brought our world crashing down. â€Å"Illegal stunts. † Nine months of sweat and tears, 4  years of commitment, all brought down in a matter of moments. Less than ten  minutes  before my final  national high school cheerleading competition and all the  work my  team and I put into our flawless routine no  longer mattered. We had ten  minutes to  recreate a near-impossible routine and preform it for over 600 people. How  could our  coaches not know our routine was filled with illegal stunts? More  importantly why did we  travel  1,997 miles to be humiliated? I knew in that moment that the hard work, sweat, and tears that were supposed to pay off with a shiny gold metal and an adorable white silk national champ jacket, came down to one thought: â€Å"Can we pull this together? Before we could even wrap our heads around the situation that was being presented to us my team and I were being hastily rushed toward the overwhelming maze of two-story black curtains. I could hear the abundant crowd roaring on the other side. Our parents, eagerly waiting, had no clue the panic that was now instilled within us. Scott, my teams’ choreographer, sashayed through the groups of cheerleaders toward us. â€Å"Good luck, Ladies† he muttered, â€Å"Sorry about the sudden changes in your routine†¦I†¦ I didn’t think anything was illegal. † At wit’s end, I huddled my team together. Taking turns, my co-captains and I shared some inspirational words and started singing our team song: â€Å"Lean on Me. † Suddenly, we were united on stage in front of hundreds of people. Blinded by the spotlights in front of me, I glanced to my right only to see my coach. She clung to the side of the raised stage, barely able to see over, her emotions written all over her face, frustrated and scared. At that moment I knew she was just as nervous as we were. The moment all the hours practicing, the sore muscles, the obsession over cheerleading for 9 months straight was about to pay off, BOOM. The music was on and muscle memory kicked in. One dance step after another just happened without any thought. As the dance portion of the routine was over and the cheer portion slowed to an end, I knew our final pyramid was coming soon. Panic. No one was where she needed to be. It seemed as if we were ants being watched through a magnify glass, scurrying about with no real direction. Rushed and confused, we threw together what we could. â€Å"We can do this! † I shouted to the girls. Finally some sanity as my bases threw me into the air, only to realize the other half of the team was struggling. I was always taught to just keep going, so that’s what I did. The music continued to build, and the newly changed portion was finally here. My bases, consisting of my fellow captains, pushed me into the air. I reached out for the flyer next to me. Only there was no flyer next to me, and without her, none of this would work. I glanced over after hearing gasps come from the audience, only to see half my team on the ground, struggling and fighting to pull themselves up. The music ended. Silence. The last impression the judges and the crowd saw of us was complete pandemonium. First place was out of the question. â€Å"With a routine like that, you will be lucky to make it any further. † Our coaches starred at each of us as we walked shamefully backstage to watch our routine on the big TV monitor. One 8-count at a time we watched our dreams unfold and come crashing down, literally. Knowing that it wasn’t completely our fault, we joined the crowd to watch the rest of the competing teams. In the proceeding moments we learned that without the falls at the end, our routine was perfect– filled with smiling faces, tight dance moves, and a high level of difficulty. Due to those minor mistakes, however, our trip to Orlando was over without reward. The following morning, disappointed and heartbroken, my teammates and I boarded our flight back to the mountains. Looking back now, the memories created are irreplaceable whether good or bad. Sometimes all the hard work and effort doesn’t pay off in the way we hope for. Left with disappointed dreams, my duties as a cheer-captain were over and I was left with memories and a group of friends who could never be replaced. I didn’t get that national title, but at least we made it that far, which is more than many young girls could even hope for. How to cite When Everything Changed, Papers

The Alley of Our Mind free essay sample

â€Å"You can’t always blame the world for your problems. At some point you have to take responsibility of your own life.† As anonymous as this quote is, simple words have never impacted my life as much as these. I have always known the nightmare would end; I just did not know when, or if, I’d be here to witness it. There are some exceptionally disastrous events that can occur in someone’s life that can change them forever. There are some dark times that even the brightest light cannot even illuminate. I understand that depression is not necessarily considered an event by textbook, but I can name few situations that are more impactful on someone’s life for this â€Å"event† has no typical case. There is no one that depression â€Å"lightens the load† for, I know that. I also know that this thing inside of my head engulfed my mind. We will write a custom essay sample on The Alley of Our Mind or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page My thoughts struggled to grasp for air. My brain slowly melted into a puddle of nuke warm, day old pudding; filled with a similar unwanted substance. I had no time for that. I have always had some sort of expectation or standard to achieve every single day. I had no time to recognize my mental stability or lack thereof. I did not want anyone to ask me questions. I did not openly display my distress when I knew I would instantly and pathetically receive an invitation to a pity party I would regretfully have to reject. The thoughtless question, â€Å"How are you?† has become a habit for most. However, the answer to that question was not as habitual as most would prefer. I dreaded the thought of such a simple confrontation.The most I could do was bare through the day with fist bumps because I knew better than to shake someone’s hand when my palm was moister than the damp weather outside with my mile-high hair as my witness; sporadic awkward laughs in the middle of history class to prevent glossy eyes as the teacher reviewed horrifyingly dull topics left me as the seemingly vehement peer juxtaposed to the rest of my rock solid, silent, dull classmates; the floor making love to my eyes as I walk through the hallways, unable to lift my chin with the fear of glancing at someone who had it worse off than me because I truly would not be able to cope knowing I’m just too whiny. My coping skills have always seemed â€Å"off† compared to others I saw regularly dealing with the same â€Å"event†. I kept myself busy with the only way I knew at the time: school work. The more I did, the more I hoped my heart and head would just go numb in fear I may slip and say something to differ from my usual â€Å"happy† self-image so flawlessly perfected. I wanted my entire being to stop, shut down, reboot, and catch up where it left off, but this time, where I wanted to be. I can honestly say â€Å"fake it ‘til ya make it† became my mantra; more or less like those â€Å"new† overplayed songs on the radio that you hate but can never forget. Another unforgettable aspect of everyday life is your mind. It’s like a street, but a turn of the careless lands you in an alley. When you have this mutation swallowing your mind, your alley is long, narrow, dark, damp, never-ending, and inescapable. At every glance, the walls get tighter and you start to get claustrophobic- your skin crawls for its own rescue, craving to leave the remainder of your soul behind. Your confidence takes a blow. Behind every abandoned, rusty dumpster, still embedded with the scent of decay, crawls out every single essence of your self-doubt- you begin to look for salvation. Your mind dwindles. Underneath every broken, forgotten, infested piece of waste slithers a â€Å"harmless joke† you’ll never forget- you long to initiate your departure. Your heart plummets. I was in that alley. I felt forgotten and unwanted like the other useless mass surrounding me. Low and behold I was trapped by none other than myself. Through my actions and persistence, my mind has eventually morphed from where I was to where I wanted to be. Piece by piece I chipped away at the foreboding walls enclosing me until I saw it. Like an orb of life itself, my future was waiting for me. I can now say I truly know the value of a smile. I no longer feel the need to seek others to fill my self-implemented voids. I started to take responsibility of my own life.I’m more independent than I thought I ever could be. I know what it feels like to feel like you’re alone and helpless, and for that reason specifically I help others whenever there is an opportunity. I do not want anyone to feel the way I felt and even though I’m proud of my transformation, I do not publicize or promote my struggles. I have changed so much over the years and no one knows where I began.I welcome the unfamiliar privacy. I am not a project I can receive an â€Å"A† on. I cannot get â€Å"Most-Improved† stamped on my forehead. This challenge was me versus myself. Luckily for me, this struggle of mine became a blessing. It brought me closer to my passion for life. My desire to not only live, but to enjoy life is far beyond any previous aspiration of mine. At the end of my life, I want to be lying there, reflecting over my journeys and not just say that I survived, but that I lived. At the end of the day, exceeding anyone’s perception of which I am, only I know who I could have been and for that I am proud.