History of the Reserve Currency. For centuries, the world has had what's known as a reserve currency. A reserve currency is the currency in which the majority of the world's inter ...

President Richard Nixon abandoned the gold standard in 1971. From that point on, the dollar has been backed not by precious metal, but purely by the full faith and credit of the U.S. government.

You’ve made a huge political comeback. You’re deeply suspicious of the Washington bureaucracy. You’re contemptuous of liberal ...