United States Dollar: The Almighty Greenback
The United States Dollar, commonly known as the greenback or the dead president, is a popular currency used by millions of people worldwide. It’s the official currency of the United States of America, and it’s almost impossible to escape its ubiquity.
Origins
The greenback was first introduced by the Continental Congress in 1775. Originally, it was referred to as the “continental.” Unfortunately, the value of this paper currency rapidly depreciated, leading to the saying, “not worth a continental.” It’s safe to say that the greenback was not off to a good start.
Design
The designs of the US dollar bills have been the same since the 1960s and, to be honest, they could use a little refresh. The one-dollar bill features George Washington, the nation’s first president, and the twenty-dollar bill features Andrew Jackson, who famously opposed paper currency. The dead presidents may be iconic, but there’s a general sense that it’s time for a change.
Usage
The greenback is accepted worldwide, but it’s not always the most popular choice for international transactions. The U.S. government also uses the dollar as a tool of foreign policy, which can make other countries pretty annoyed. It’s hard for them to resist the lure of the almighty greenback, though.
Fun Facts
- The greenback is the most commonly counterfeited currency in the world. But don’t worry, there are measures in place to prevent counterfeiters from succeeding.
- In addition to being a currency, the dollar is also a unit of measurement. For example, you might hear someone say, “That new car costs 50 grand.” Grand is slang for a thousand dollars.
- The phrase “In God We Trust” has been printed on U.S. currency since 1957. Sometimes it feels like the only entity we can trust these days.
Conclusion
The United States dollar is the de facto global currency, and it’s hard to imagine the financial world without it. We may joke about the greenback’s flaws, but we are grateful for the fact that it makes the world go round. Now, if only we could do something about those outdated designs.