The value of the dollar falls on the currency list
For a long time, the US dollar was the second most valued currency among the 7 most traded currencies among freely traded currencies, after only the pound sterling. However, since its inception in 1999, the euro has for the most part also had a higher value, usually a much higher value, although the dollar has had a briefly higher value during the period 2000-2002.
Since then, the currency depreciation policy pursued by Greenspan and Bernanke has caused it to be worth less than more and more money. The Canadian dollar in 2007-08 and the Swiss franc in 2008 briefly valued higher than the U.S. dollar, but both turned lower again after the strong rally in the U.S. dollar in late 2008 and early 2009.
Now, however, the Canadian dollar and Swiss franc have regained a higher value than the US dollar. In addition, the Australian dollar has also gained higher value than the US dollar.
As a result, there are now 5 major currencies with a higher value than US dollar namely British Pound, Euro, Swiss Franc, Canadian Dollar and Australian Dollar. Only the yen has a lower value, and since its value is even more than 80 times lower, it will be a very long, if ever, before its value exceeds that of the US dollar. However, the yen actually increased in value more than the others (with the exception of the franc which increased in the same way), its value being more than 4 times higher against the US dollar compared to the early 1970s, about 3 times higher than in the mid-1980s.
In contrast, the only currency that has always had a higher value than the US dollar, the pound sterling, has effectively lost value against the US dollar compared to the early 1970s and 1980s and it is the only national currency to have a lower value against the US dollar against at the beginning of the 2000’s. It’s because Mervyn king and his predecessors at the Bank of England were just as, if not more, inflationary than Greenspan and Bernanke.
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