Ranking the Currencies That Could Unseat the Dollar

Half a century ago today, on Aug. 15, 1971, U.S. President Richard Nixon took a momentous step.

After World War II, the U.S. had used its leverage as the last advanced economy standing to make the dollar the foundation of a global system of exchange rates. The postwar dollar was backed by huge gold reserves built up in part through American sales of munitions to Europe during the war. The system, known as Bretton Woods for the New Hampshire site of its enactment, played a key role in the reconstruction of devastated economies in Europe and Japan.

But by 1971, those recovering economies had become a threat to the gold-backed dollar. Rising exports from Europe and Japan eroded the U.S. share of global trade, reducing demand for American currency. Combined with excess U.S. spending, this convinced financial markets that the dollar was overvalued against its $35 per ounce gold peg. Starting in the 1960s, dollars were redeemed for gold at a faster and faster clip, a “gold run” motivated by the belief that the dollar’s peg might break, leaving dollar holders short.

Finally, 50 years ago, Richard Nixon suspended dollar redemptions for gold. Though the process took a few more years to play out, this effectively ended the gold standard and the fixed Bretton Woods exchange system that relied on it.

The significance of this moment is arguably exaggerated in the sweep of financial history – the “gold standard” that Nixon ended had lasted less than three decades, under extremely unusual circumstances. In its place eventually came the relatively free-floating exchange rates we know today, in which the relative value of currencies changes based broadly on the economic clout and political stability of the issuing nation.

As it happened, despite the rise of Europe and Japan, this new currency regime still favored the (now unbacked) U.S. dollar. For the half-century since, it has remained the dominant currency for global trade and the overwhelming choice of foreign central banks looking for a stable store of value. As we discussed in the first installment of this series, this has given the U.S. a variety of economic and political advantages, often referred to as the dollar’s “exorbitant privilege.”

But now, the status quo of dollar dominance is eroding. Post-pandemic inflation has reignited worries about the dollar’s declining reserve status, but it’s a much longer-term trend: In May, the dollar’s share of central bank reserves fell to a 25-year low of 59%.

The dollar’s lost share has been taken up in large part by growth in reserves held as euros, Japanese yen and Chinese yuan. There’s also another competitor, though it’s still just a glimmer on the horizon: Crypto advocates have long argued that bitcoin (BTC, +0.75%) or another digital asset could serve as a global reserve currency, and recently much more mainstream figures, including the former head of the Bank of England, have supported the idea of a supranational digital reserve instrument.

Reserve status is not a winner-take-all competition. The circumstances that led to nearly a century of dollar dominance were an anomaly, and experts generally don’t expect any single currency or instrument to become similarly dominant in the 21st century.

The Best Ways I’ve Found To Make Money Online From Home

Have you been looking for a way to make money online without having to know much of the internet stuff? Wanting to work at home but don’t know how to do it? Here is the key gem: Between all the tricks on joining the craft beer movement, opening a gallery or being a tour operator, you will find clever advice that anybody can apply to make money online quickly.

The most basic way to make money online is through affiliate marketing. It is really easy. Basically you set up an ad for someone she is selling something and when they click through and buy it, you make money! Simple enough if you have no technical skill at all. Here are some simple tips on how to earn using affiliate marketing:

Drop-shipping is one of the most useful methods. You select a product in which you believe there is a demand and then drop-ship it to your customers in small quantities. You make money from the difference between what the stock costs and what you sell it for. For this method, it is important to note that you may need to make space for your inventory on your premises or perhaps wait until you have a build of an inventory before you can start drop-shipping; but the advantages make it a good choice for those seeking to make money online from their spare time.

Paid surveys are a great way to earn some extra cash. These can be accessed easily and there are many sites where you can get paid from spending your spare time. There is one site, though, which is said to pay $200 a week for twelve weeks straight – you can’t beat that kind of money making potential. With paid surveys, it is important to note that the sites are generally scams, and that you need to do some research to ensure you are making good money making opportunities.

Finally, a passive income generating method that can bring in money on autopilot is eToro’s Forex trading. This works by allowing you to invest on a demo account and earn money from the performance of the currencies being exchanged. The best thing about this system is that it allows you to do virtually anything and still see profits coming in. eToro has an average starting price of less than $50 and can generate an income of five figures in just a few months.

These are the best things I have found for making money online from your home. Though none of them are as good as, say, a paid-online course, they are much more affordable and can provide a valuable education to start earning money immediately online. With just a little research, you should be able to find a legitimate opportunity to get paid to learn the basics of making money in the currency markets. This is a truly remarkable opportunity.

How Long Should A Laptop Battery Last And How To Increase the Battery Life

No matter how expensive your laptop is, its battery won’t last more than four years. According to experts, a new laptop battery gives you as many as 1,000 cycles. In other words, you can charge and recharge the battery up to 1000 times. However, many factors play their role to increase or decrease the lifespan of a laptop battery. For instance, the material used for producing the battery substance. So, if you want to ensure that your battery stands the test of time, given below are some of the tips that can help.

1. Install a good battery monitor

If you are looking for an alternative, you can choose from tons of third-party utilities. Basically, the software programs help you monitor your laptop battery. These programs have no compatibility issues with any type of laptop.

Using these tools, you can find out which programs are using most of the battery power. You can then close the unwanted programs to save battery power.

2. Install maintenance apps

You can use some manufacturer-recommended maintenance tools for maintaining your laptop battery. Based on the type of your battery, you will receive different suggestions. Apart from this, your operating system will come with a built-in utility that can help you keep an eye on your battery condition.

3. Maintain your device temperature

You should try your level best to ensure your laptop maintains its temperature. In summer, electronic devices tend to heat up, which negatively impacts the life of the battery packs.

Therefore, you should make sure that there is a little bit of space between the bottom of the device and the table you have placed your device on. Besides, the ventilation system of your device should be working properly. For this purpose, regular cleaning of your device is quite important.

4. Don’t use maximum brightness

When your screen brightness is at maximum level, your device will use the maximum power. So, turning down the brightness is the first thing you can do to save power. Also, it is not a good idea to keep the brightness at max level as it can have a negative impact on your eyesight.

So, by following these simple tips, it will be easier for you to extend the life of your laptop battery.

5. Change the power-saving settings

Before you do anything, go into the power options of your laptop. If you are using Windows operating system, you can go to the control panel to access the power options. The control panel can be accessed from the Start Menu.

Some users have MacOS. If you are one of them, you need to access Energy Saver, which is found in the System Preferences. If these values are set to default, your computer will use the least amount of power.

So, what you need to do is make small changes to the settings so that you achieve a balance between power and performance. For best performance, there is always the choice to connect your device to the AC outlet.

If your laptop battery is over 4 years old, you may want to get replacement batteries. This will give you a longer backup again so you can keep working on your device while on the move.