A 500 year perspective on the history of the USD

A recent Odd Lots podcast has a fantastic interview with Brendan Greeley discussing his book “The Almighty Dollar: 500 Years of the World’s Most Powerful Money”. I have had an enduring interest in economic history so that is my bias but I read a lot and I learned some new things from the discussion. Chiefly that the roots of the USD predate the creation of the USA.

Greeley situates the origin of the dollar in a Bohemian silver mine that was developed in the 1520s that came to become the standard currency of trade in the Baltic and Northern Germany. This for me adds a whole new perspective on histories that focus on the adoption of the dollar by Congress in 1785 or the development of legal tender “greenbacks” in 1862.

Looking forward to reading the book

Tony – From the Outside

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Author: From the Outside

After working in the Australian banking system for close to four decades, time to read, write and reflect on what I have learned. My primary area of expertise is bank capital management but this blog aims to offer a bank insider's outside perspective on banking, capital, economics, finance and risk.

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