22.12.2011 - Top 10 established currency ETFs
Confidence is what gives currencies their credibility. The U.S. dollar went off the gold standard with the Bretton Woods's agreement during the Nixon administration since more dollars were being printed than there was gold to back them (55% to 22%). Taking the U.S. off the gold standard with the BW agreement made the dollar the world's reserve currency. This meant many commodities were priced in dollars. Some currencies were permitted to float freely while others maintained a "currency peg" to the dollar. As of late 2011 the U.S. Dollar is still nearly 70% of foreign reserve holdings...............................................Full Article: Source
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