The almighty dollar : 500 years of the world's most powerful money / Brendan Greeley.

Format:

Book

Author/Creator:

Greeley, Brendan, author.

Language:

English

Subjects (All):

Money--History.

Money.

Silver coins--History.

Silver coins.

Dollar--History.

Dollar.

Paper money--History.

Paper money.

Monetary policy--History.

Monetary policy.

Dollar, American--History.

Dollar, American.

Economic history.

World politics.

Silver mines and mining.

International finance.

Taler.

United States--Economic policy.

United States.

United States--Economic conditions.

Genre:

History

Informational works

Informational works.

Physical Description:

415 pages : illustrations, maps ; 25 cm

Edition:

First edition.

Other Title:

Five hundred years of the world's most powerful money

Place of Publication:

New York : Crown Currency, [2026]

Summary:

"America's money is global money--nearly every nation in the world writes international contracts in dollars, and in 2023, central banks around the world held nearly $6.7 trillion in dollar reserves, three times any other currency. Today, the United States' global hegemony rests largely on its ability to produce unlimited treasury bonds that are sold around the world, dollars that supported America's explosive growth in the twentieth century and funded its massive wars in the twenty-first. American power and the American dollar have become synonymous. Yet in this brilliant 500-year history, Brendan Greeley argues that America's sovereignty over the dollar is an illusion--that the dollar had already empowered and destroyed nations long before it washed up on colonial shores, and that no country or king has or can ever truly control it. Reaching back to the dollar's birth as the taler in the 15th-century silver mines of St. Joachimsthal, Greeley reveals how the dollar first thrived as a commodity for merchants and bankers--a big, silver coin that was trusted around the world, even as the miners who pulled it from the ground had trouble getting paid in that same silver. Greeley traces a captivatingly complex path across time and place, from the industrial collapse at the heart of Spain's 17th-century silver empire, to the birth of American paper dollars in colonial Maryland, 19th-century New Orleans bank failures, and the small town of Hawarden, Iowa, which created its own dollars during the Great Depression. At every surprising turn, Greeley upends assumptions about global currencies and draws out the centuries-old tension between how dollars are manufactured and whom they actually serve. Singular in its breadth, The Almighty Dollar dismantles the myth that America created or has ever truly controlled the dollar. Through meticulous research and vividly rendered stories of merchants, monarchs, and everyday people both past and present, Greeley shows how the dollar became America's greatest export, spawning a vast financial industry that enriches the wealthy, even as the rest of the country's industries suffer." -- Publisher's description.

Contents:

Part I. The silver dollar. A big silver coin from Bohemia ; The Spanish dollar and the collapse of Toledo ; The first American dollar

Part II. The bank dollar. Silver dollars become bank dollars ; Bank notes become bank deposits ; The dollar becomes a global currency, again.

Notes:

Includes bibliographical references (pages 351-401) and index.

ISBN:

9780593138885

0593138880

OCLC:

1590788488

Publisher Number:

90104571746