How Did The US Dollar Become The World Reserve Currency?
There's a big difference between an American dollar, a Canadian dollar, a British pound, a Kenyan shilling, and all other currencies around the world. It's no shock that the US dollar is the strongest currency (not in terms of its literal value and how expensive it is, but in terms of global power and dominance).
The US dollar is what’s called the ‘world reserve currency’, which means that banks around the world keep more USD on hand than any other foreign currency, and it’s used to measure the value of their own currency. So instead of constantly exchanging multiple currencies, all countries pretty much default to using USD.
And this has been really beneficial to the United States. I was really curious about how this actually started - as long as I’ve been alive, I’ve known the US dollar to be the strongest currency in the world - but how did they get that position? That's what we explore in this video - how the USD got to where it is, and the benefits it gives to the United States.
0:00 The US Dollar is the ‘world reserve currency’
1:01 How the USD swooped in and took over
3:17 The ‘Gold Standard’ is out, ‘SWIFT’ is in
5:16 The US utilizes the USD for global power
7:15 Countries around the world aren’t happy
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Disclaimer - This content is for education and entertainment purposes only. Steph & Den do not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
Видео How Did The US Dollar Become The World Reserve Currency? канала Steph & Den
The US dollar is what’s called the ‘world reserve currency’, which means that banks around the world keep more USD on hand than any other foreign currency, and it’s used to measure the value of their own currency. So instead of constantly exchanging multiple currencies, all countries pretty much default to using USD.
And this has been really beneficial to the United States. I was really curious about how this actually started - as long as I’ve been alive, I’ve known the US dollar to be the strongest currency in the world - but how did they get that position? That's what we explore in this video - how the USD got to where it is, and the benefits it gives to the United States.
0:00 The US Dollar is the ‘world reserve currency’
1:01 How the USD swooped in and took over
3:17 The ‘Gold Standard’ is out, ‘SWIFT’ is in
5:16 The US utilizes the USD for global power
7:15 Countries around the world aren’t happy
➡️ EQ Bank - Our High Interest Savings Account - https://click.linksynergy.com/fs-bin/click?id=Xoa5MXyunCM&offerid=1115263.5&type=3&subid=0
➡️ Wealthsimple Invest - Our Robo-Advisor Investment Platform ($50 bonus) - https://wealthsimple.sjv.io/vnkndW
➡️ Wealthsimple Trade - Our Favourite Stock Trading Platform ($25 bonus) - https://wealthsimple.sjv.io/yRARNB
➡️ Neo Financial - Our Cash Back Credit Card ($50 bonus) - https://join.neo.cc/stephandden
➡️ Simplii Financial - Our No Fee Checking Account ($350 bonus) - https://api.fintelconnect.com/t/l/61f833f8d3ab7f001d626cb8
➡️ Questrade - Low Fee Investment Platform Canada ($50 in commission free trades) - https://www.questrade.com/campaigns/qbaffl50t102?refid=600865520987c&a_bid=bff58c70
➡️ M1 Finance - Low Fee Investment Platform USA (Up to $500 free) - https://m1finance.8bxp97.net/DVq3gd
➡️ Borrowell - Free Credit Score Check - https://api.fintelconnect.com/t/l/612d3fe6cb45d3001d5ece04
The links above are affiliate and/or referral links that provide us compensation when you use them to sign up. Thank you for supporting our channel!
Website - stephandden.com
Instagram - @stephandden
TikTok - @steph.and.den
Camera - Sony A6400 - https://amzn.to/2vsmDqc
Lens - Sigma 16mm - https://amzn.to/2vslvCV
Microphones - https://amzn.to/2tSa3jQ
Tripod - https://amzn.to/37EAibU
Small Tripod - https://amzn.to/2S3dWul
External Hard Drive - https://amzn.to/3mQzMlP
Our Music - https://www.epidemicsound.com/referral/sd5lrl/
The links above are affiliate links - Steph & Den are Amazon Associates and we earn from qualifying purchases.
Disclaimer - This content is for education and entertainment purposes only. Steph & Den do not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
Видео How Did The US Dollar Become The World Reserve Currency? канала Steph & Den
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