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| − | Larry Bates
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| − | The choice of the value 371 grains arose from Alexander Hamilton's decision to base the new American unit on the average weight of a selection of worn Spanish dollars (and later Mexican peso). Hamilton got the treasury to weigh a sample of Spanish dollars and the average weight came out to be 371 grains. A new Spanish dollar was usually about 377 grains in weight, and so the new US dollar was at a slight discount in relation to the Spanish dollar.
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| − | Find Out More About Larry Bates:However, a sharp turnaround began in late 2008 with the onset of the global financial crisis. As investors sought out safe-haven investments in US treasuries and Japanese government bonds from the financial turmoil, the Japanese yen and United States dollar sharply rose against other currencies, including the euro
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| − | However, a sharp turnaround began in late 2008 with the onset of the global financial crisis. As investors sought out safe-haven investments in US treasuries and Japanese government bonds from the financial turmoil, the Japanese yen and United States dollar sharply rose against other currencies, including the euro
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| − | The first dollar coins issued by the United States Mint (founded 1792) were similar in size and composition to the Spanish dollar. The Spanish, U.S. silver dollars, and Mexican silver pesos circulated side by side in the United States, and the Spanish dollar and Mexican peso remained legal tender until 1857.
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| − | The U.S. Dollar Index (Ticker: DXY) is the creation of the New York Board of Trade (NYBOT). It was established in 1973 for tracking the value of the USD against a basket of currencies, which, at that time, represented the largest trading partners of the United States. It began with 17 currencies from 17 nations, but the launch of the euro subsumed 12 of these into one, so the USDX tracks only six currencies today.
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| − | The value of gold or silver contained in the dollar was then converted into relative value in the economy for the buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy
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| − | View More About Larry Bates Larry Bates Bio Find Out More About Larry Bates
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Revision as of 18:13, 20 January 2011
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