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United States dollar
The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its insular territories. It is divided into 100 smaller cent (¢) units. The circulating paper money consists of Federal Reserve Notes.
The U.S. dollar is fiat money. It is the currency most used in international transactions and is the world's primary reserve currency.[8] Several countries use it as their official currency, and in many others it is the de facto currency.[9] Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use only the U.S. dollar for paper money, while the country mints its own coins, or also accepts U.S. coins that can be used as payment in U.S. dollars, such as the Susan B. Anthony dollar.
Article I, Section 8 of the U.S. Constitution provides that the Congress has the power "To coin money".[10] Laws implementing this power are currently codified at 31 U.S.C. § 5112. Section 5112 prescribes the forms in which the United States dollars should be issued.[11] These coins are both designated in Section 5112 as "legal tender" in payment of debts.[11] The Sacagawea dollar is one example of the copper alloy dollar. The pure silver dollar is known as the American Silver Eagle. Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent to 50 dollars.[11] These other coins are more fully described in Coins of the United States dollar.
The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time".[12] That provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code.[13] The sums of money reported in the "Statements" are currently being expressed in U.S. dollars (for example, see the 2009 Financial Report of the United States Government).[14] The U.S. dollar may therefore be described as the unit of account of the United States.
The word "dollar" is one of the words in the first paragraph of Section 9 of Article I of the Constitution. There, "dollars" is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U.S. Congress passed a Coinage Act. Section 9 of that act authorized the production of various coins, including "DOLLARS OR UNITS—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". Section 20 of the act provided, "That the money of account of the United States shall be expressed in dollars, or units... and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation". In other words, this act designated the United States dollar as the unit of currency of the United States.
Unlike the Spanish milled dollar the U.S. dollar is based upon a decimal system of values. In addition to the dollar the coinage act officially established monetary units of mill or one-thousandth of a dollar (symbol ₥), cent or one-hundredth of a dollar (symbol ¢), dime or one-tenth of a dollar, and eagle or ten dollars, with prescribed weights and composition of gold, silver, or copper for each. It was proposed in the mid-1800s that one hundred dollars be known as a union, but no union coins were ever struck and only patterns for the $50 half union exist. However, only cents are in everyday use as divisions of the dollar; "dime" is used solely as the name of the coin with the value of 10¢, while "eagle" and "mill" are largely unknown to the general public, though mills are sometimes used in matters of tax levies, and gasoline prices are usually in the form of $X.XX9 per gallon, e.g., $3.599, more commonly written as $3.59 9⁄10. When currently issued in circulating form, denominations equal to or less than a dollar are emitted as U.S. coins while denominations equal to or greater than a dollar are emitted as Federal Reserve notes (with the exception of gold, silver and platinum coins valued up to $100 as legal tender, but worth far more as bullion). Both one-dollar coins and notes are produced today, although the note form is significantly more common. In the past, "paper money" was occasionally issued in denominations less than a dollar (fractional currency) and gold coins were issued for circulation up to the value of $20 (known as the "double eagle", discontinued in the 1930s). The term eagle was used in the Coinage Act of 1792 for the denomination of ten dollars, and subsequently was used in naming gold coins. Paper currency less than one dollar in denomination, known as "fractional currency", was also sometimes pejoratively referred to as "shinplasters". In 1854, James Guthrie, then Secretary of the Treasury, proposed creating $100, $50 and $25 gold coins, which were referred to as a "Union", "Half Union", and "Quarter Union",[15] thus implying a denomination of 1 Union = $100.
Today, USD notes are made from cotton fiber paper, unlike most common paper, which is made of wood fiber. U.S. coins are produced by the United States Mint. U.S. dollar banknotes are printed by the Bureau of Engraving and Printing and, since 1914, have been issued by the Federal Reserve. The "large-sized notes" issued before 1928 measured 7.42 inches (188 mm) by 3.125 inches (79.4 mm); small-sized notes, introduced that year, measure 6.14 inches (156 mm) by 2.61 inches (66 mm) by 0.0043 inches (0.11 mm). When the current, smaller sized U.S. currency was introduced it was referred to as Philippine-sized currency because the Philippines had previously adopted the same size for its legal currency.
In the 17th century, Count Hieronymus Schlick of Bohemia began minting coins known as Joachimstalers (from German thal, or nowadays usually Tal, "valley", cognate with "dale" in English), named for Joachimstal, the valley where the silver was mined (St. Joachim's Valley, now Jáchymov; then part of the Kingdom of Bohemia, now part of the Czech Republic).[16] Joachimstaler was later shortened to the German Taler, a word that eventually found its way into Danish and Swedish as daler, Norwegian as dalar and daler, Dutch as daler or daalder, Ethiopian as ታላሪ (talari), Hungarian as tallér, Italian as tallero, and English as dollar.[16] Alternatively, thaler is said to come from the German coin Guldengroschen ("great guilder", being of silver but equal in value to a gold guilder), minted from the silver from Joachimsthal.
The coins minted at Joachimsthal soon lent their name to other coins of similar size and weight from other places. One such example, was a Dutch coin depicting a lion, hence its Dutch name leeuwendaler (in English: lion daler).
The leeuwendaler was authorized to contain 427.16 grains of .75 fine silver and passed locally for between 36 and 42 stuivers. It was lighter than the large-denomination coins then in circulation, thus it was more advantageous for a Dutch merchant to pay a foreign debt in leeuwendalers and it became the coin of choice for foreign trade.
The leeuwendaler was popular in the Dutch East Indies and in the Dutch New Netherland Colony (New York), and circulated throughout the Thirteen Colonies during the 17th and early 18th centuries. It was also popular throughout Eastern Europe, where it led to the current Romanian and Moldovan currency being called leu (literally "lion").
Among the English-speaking community, the coin came to be popularly known as lion dollar – and is the origin of the name dollar.[17] The modern American-English pronunciation of dollar is still remarkably close to the 17th-century Dutch pronunciation of daler.[18]
By analogy with this lion dollar, Spanish pesos – with the same weight and shape as the lion dollar – came to be known as Spanish dollars.[18] By the mid-18th century, the lion dollar had been replaced by the Spanish dollar, the famous "piece of eight", which was distributed widely in the Spanish colonies in the New World and in the Philippines.[19] Eventually, dollar became the name of the first official American currency.
The colloquialism "buck"(s) (much like the British word "quid"(s, pl) for the pound sterling) is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial leather trade. It may also have originated from a poker term.[20] "Greenback" is another nickname originally applied specifically to the 19th century Demand Note dollars created by Abraham Lincoln to finance the costs of the Civil War for the North.[21] The original note was printed in black and green on the back side. It is still used to refer to the U.S. dollar (but not to the dollars of other countries). Other well-known names of the dollar as a whole in denominations include "greenmail", "green" and "dead presidents" (the last because deceased presidents are pictured on most bills).
A "grand", sometimes shortened to simply "G", is a common term for the amount of $1,000. The suffix "K" or "k" (from "kilo-") is also commonly used to denote this amount (such as "$10k" to mean $10,000). However, the $1,000 note is no longer in general use. A "large" or "stack", it is usually a reference to a multiple of $1,000 (such as "fifty large" meaning $50,000). The $100 note is nicknamed "Benjamin", "Benji", "Ben", or "Franklin" (after Benjamin Franklin), "C-note" (C being the Roman numeral for 100), "Century note" or "bill" (e.g. "two bills" being $200). The $50 note is occasionally called a "yardstick" or a "grant" (after President Ulysses S. Grant, pictured on the obverse). The $20 note is referred to as a "double sawbuck", "Jackson" (after Andrew Jackson), or "double eagle". The $10 note is referred to as a "sawbuck", "ten-spot" or "Hamilton" (after Alexander Hamilton). The $5 note as "Lincoln", "fin", "fiver" or "five-spot". The infrequently-used $2 note is sometimes called "deuce", "Tom", or "Jefferson" (after Thomas Jefferson). The $1 note as a "single" or "buck". The dollar has also been, referred to as a "bone" and "bones" in plural (e.g. "twenty bones" is equal to $20). The newer designs, with portraits displayed in the main body of the obverse rather than in cameo insets upon paper color-coded by denomination, are sometimes referred to as "bigface" notes or "Monopoly money".
"Piastre" was the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase. Calling the dollar a piastre is still common among the millions of speakers of Cajun French and New England French. Modern French uses dollar for this unit of currency as well. The term is still used as slang for US dollars in the French-speaking Caribbean islands, most notably Haiti.
Dollar sign
The symbol $, usually written before the numerical amount, is used for the U.S. dollar (as well as for many other currencies). The sign was the result of a late 18th-century evolution of the scribal abbreviation "ps" for the peso, the common name for the Spanish dollars that were in wide circulation in the New World from the 16th to the 19th centuries. These Spanish pesos or dollars were minted in Spanish America, namely in Mexico City; Potosí, Bolivia; and Lima, Peru. The p and the s eventually came to be written over each other giving rise to $.[22][23][24][25]
Another popular explanation is that it is derived from the Pillars of Hercules on the Spanish Coat of arms of the Spanish dollar. These Pillars of Hercules on the silver Spanish dollar coins take the form of two vertical bars (||) and a swinging cloth band in the shape of an "S".
Yet another explanation suggests that the dollar sign was formed from the capital letters U and S written or printed one on top of the other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged,[26] does not consider the fact that the symbol was already in use before the formation of the United States.[27]
The American dollar coin was initially based on the value and look of the Spanish dollar, used widely in Spanish America from the 16th to the 19th centuries. The first dollar coins issued by the United States Mint (founded 1792) were similar in size and composition to the Spanish dollar, minted in Mexico and Peru. The Spanish, U.S. silver dollars, and later, Mexican silver pesos circulated side by side in the United States, and the Spanish dollar and Mexican peso remained legal tender until the Coinage Act of 1857. The coinage of various English colonies also circulated. The lion dollar was popular in the Dutch New Netherland Colony (New York), but the lion dollar also circulated throughout the English colonies during the 17th century and early 18th century. Examples circulating in the colonies were usually worn so that the design was not fully distinguishable, thus they were sometimes referred to as "dog dollars".[28]
The U.S. dollar was first defined by the Coinage Act of 1792, which specified a "dollar" to be based in the Spanish milled dollar and of 371 grains and 4 sixteenths part of a grain of pure or 416 grains (27.0 g) of standard silver and an "eagle" to be 247 and 4 eighths of a grain or 270 grains (17 g) of gold (again depending on purity).[29] The choice of the value 371 grains arose from Alexander Hamilton's decision to base the new American unit on the average weight of a selection of worn Spanish dollars. Hamilton got the treasury to weigh a sample of Spanish dollars and the average weight came out to be 371 grains. A new Spanish dollar was usually about 377 grains in weight, and so the new U.S. dollar was at a slight discount in relation to the Spanish dollar.
The same coinage act also set the value of an eagle at 10 dollars, and the dollar at 1⁄10 eagle. It called for 90% silver alloy coins in denominations of 1, 1⁄2, 1⁄4, 1⁄10, and 1⁄20 dollars; it called for 90% gold alloy coins in denominations of 1, 1⁄2, 1⁄4, and 1⁄10 eagles.
The value of gold or silver contained in the dollar was then converted into relative value in the economy for the buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy.
The early currency of the United States did not exhibit faces of presidents, as is the custom now;[30] although today, by law, only the portrait of a deceased individual may appear on United States currency.[31] In fact, the newly formed government was against having portraits of leaders on the currency, a practice compared to the policies of European monarchs.[32] The currency as we know it today did not get the faces they currently have until after the early 20th century; before that "heads" side of coinage used profile faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of historic Americans were the dime (1946) and the Dollar (1971).
For articles on the currencies of the colonies and states, see Connecticut pound, Delaware pound, Georgia pound, Maryland pound, Massachusetts pound, New Hampshire pound, New Jersey pound, New York pound, North Carolina pound, Pennsylvania pound, Rhode Island pound, South Carolina pound and Virginia pound.
Continental currency
During the American Revolution the thirteen colonies became independent states. Freed from British monetary regulations, they each issued £sd paper money to pay for military expenses. The Continental Congress also began issuing "Continental Currency" denominated in Spanish dollars. The dollar was valued relative to the states' currencies at the following rates:
- 5 shillings – Georgia
- 6 shillings – Connecticut, Massachusetts, New Hampshire, Rhode Island, Virginia
- 7 1⁄2 shillings – Delaware, Maryland, New Jersey, Pennsylvania
- 8 shillings – New York, North Carolina
- 32 1⁄2 shillings – South Carolina
Continental currency depreciated badly during the war, giving rise to the famous phrase "not worth a continental".[33] A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds.[34] The currency was ultimately replaced by the silver dollar at the rate of 1 silver dollar = 1000 continental dollars.
Silver and gold standards
From 1792, when the Mint Act was passed, the dollar was defined as 371.25 grains (24.056 g) of silver. Many historians erroneously assume gold was standardized at a fixed rate in parity with silver; however, there is no evidence of Congress making this law. This has to do with Alexander Hamilton's suggestion to Congress of a fixed 15:1 ratio of silver to gold, respectively. The gold coins that were minted however, were not given any denomination whatsoever and traded for a market value relative to the Congressional standard of the silver dollar. 1834 saw a shift in the gold standard to 23.2 grains (1.50 g), followed by a slight adjustment to 23.22 grains (1.505 g) in 1837 (16:1 ratio).
In 1862, paper money was issued without the backing of precious metals, due to the Civil War. Silver and gold coins continued to be issued and in 1878 the link between paper money and coins was reinstated. This disconnection from gold and silver backing also occurred during the War of 1812. The use of paper money not backed by precious metals had also occurred under the Articles of Confederation from 1777 to 1788. With no solid backing and being easily counterfeited, the continentals quickly lost their value, giving rise to the phrase "not worth a continental". This was a primary reason for the "No state shall... make any thing but gold and silver coin a tender in payment of debts" clause in article 1, section 10 of the United States Constitution.
The Gold Standard Act of 1900 abandoned the bimetallic standard and defined the dollar as 23.22 grains (1.505 g) of gold, equivalent to setting the price of 1 troy ounce of gold at $20.67. Silver coins continued to be issued for circulation until 1964, when all silver was removed from dimes and quarters, and the half dollar was reduced to 40% silver. Silver half dollars were last issued for circulation in 1970. Gold coins were confiscated by Executive Order 6102 issued in 1933 by Franklin Roosevelt. The gold standard was changed to 13.71 grains (0.888 g), equivalent to setting the price of 1 troy ounce of gold at $35. This standard persisted until 1968.
Between 1968 and 1975, a variety of pegs to gold were put in place, eventually culminating in a sudden end, on August 15, 1971, to the convertibility of dollars to gold later dubbed the Nixon Shock. The last peg was $42.22 per ounce before the U.S. dollar was let to freely float on currency markets.
According to the Bureau of Engraving and Printing, the largest note it ever printed was the $100,000 Gold Certificate, Series 1934. These notes were printed from December 18, 1934, through January 9, 1935, and were issued by the Treasurer of the United States to Federal Reserve Banks only against an equal amount of gold bullion held by the Treasury. These notes were used for transactions between Federal Reserve Banks and were not circulated among the general public.
Official United States coins have been produced every year from 1792 to the present.
Denomination | Common name | Obverse | Reverse | Portrait and design date | Reverse motif and design date | Weight | Diameter | Material | Edge | Circulation |
Cent 1¢ |
penny | Abraham Lincoln | Union Shield | 2.50 g | 19.05 mm | 97.5% Zn 2.5% Cu |
plain | Wide | ||
Five-Cent 5¢ |
nickel | Thomas Jefferson | Monticello | 5.00 g | 21.21 mm | 75% Cu 25% Ni |
plain | Wide | ||
Dime 10¢ |
dime | Franklin D. Roosevelt | olive branch, torch, oak branch | 2.27 g | 17.91 mm | 91.67% Cu 8.33% Ni |
118 reeds | Wide | ||
Quarter Dollar 25¢ |
quarter | George Washington | Various; five designs per year | 5.67 g | 24.26 mm | 91.67% Cu 8.33 % Ni |
119 reeds | Wide | ||
Half Dollar 50¢ |
half | John F. Kennedy | Presidential Seal | 11.34 g | 30.61 mm | 91.67% Cu 8.33 % Ni |
150 reeds | Limited | ||
Dollar coin $1 |
dollar coin, golden dollar | Profile of Sacagawea with her child, Jean Baptiste Charbonneau | Bald eagle in flight (2000-2008), Various; new design per year | 8.10 g | 26.50 mm | 88.5% Cu 6 % Zn 3.5% Mn 2 % Ni |
Lettered | Limited |
Discontinued coin denominations include:
- Half cent: 1⁄2¢, 1793–1857
- Fugio Cent: 1¢, 1787
- Two-cent piece: 2¢, 1864–1873
- Three-cent bronze: 3¢, 1863 (not circulated)
- Three-cent nickel: 3¢, 1865–1889
- Trime: 3¢, 1851–1873
- Half dime: 5¢, 1792–1873
- Twenty-cent piece: 20¢, 1875–1878
- Gold dollar: $1.00, 1849–1889
- Quarter eagle: $2.50, 1792–1929
- Three-dollar piece: $3.00, 1854–1889
- Stella: $4.00, (not circulated)
- Half eagle: $5.00, 1795–1929 (some modern commemoratives are minted in this denomination)
- Eagle: $10.00, 1795–1933 (some modern commemoratives are minted in this denomination)
- Double eagle: $20.00, 1849–1933
- Half-union: $50.00, 1877 (pattern), 1915 (Panama–Pacific International Exposition coin)
Collector coins for which everyday transactions are non-existent.[35]
- American Eagles originally were not available from the Mint for individuals but had to be purchased from authorized dealers. In 2006 The Mint began direct sales to individuals of uncirculated bullion coins with a special finish, and bearing a "W" mintmark.
- American Silver Eagle $1 (1 troy ounce) silver bullion coin 1986–present
- American Gold Eagle $5 ( 1⁄10 troy oz), $10 ( 1⁄4 troy oz), $25 ( 1⁄2 troy oz), and $50 (1 troy oz) Gold bullion coin 1986–present
- American Platinum Eagle ($10, $25, $50, and $100 platinum coin) 1997–present
- United States commemorative coins—special issue coins
- $50.00 (Half Union) 1915
- Presidential Proofs (see below) 2007–present
Technically, all these coins are still legal tender at face value, though some are far more valuable today for their numismatic value, and for gold and silver coins, their precious metal value. From 1965 to 1970 the Kennedy half dollar was the only circulating coin with any silver content, which was removed in 1971 and replaced with cupronickel. However, since 1992, the U.S. Mint has produced special Silver Proof Sets in addition to the regular yearly proof sets with silver dimes, quarters, and half dollars in place of the standard copper-nickel versions. In addition, an experimental $4.00 (Stella) coin was also minted in 1879, but never placed into circulation, and is properly considered to be a pattern rather than an actual coin denomination.
The $50 coin mentioned was only produced in 1915 for the Panama-Pacific International Exposition (1915) celebrating the opening of the Panama Canal. Only 1,128 were made, 645 of which were octagonal; this remains the only U.S. coin that was not round as well as the largest and heaviest U.S. coin ever produced.
From 1934 to present, the only denominations produced for circulation have been the familiar penny, nickel, dime, quarter, half dollar and dollar. The nickel is the only coin still in use today that is essentially unchanged (except in its design) from its original version. Every year since 1866, the nickel has been 75% copper and 25% nickel, except for 4 years during World War II when nickel was needed for the war.
Due to the penny's low value, some efforts have been made to eliminate the penny as circulating coinage.[36][37]
Collector coins
The United States Mint produces Proof Sets specifically for collectors and speculators. Silver Proofs tend to be the standard designs but with the dime, quarter, and half dollar containing 90% silver. Starting in 1983 and ending in 1997, the Mint also produced proof sets containing the year's commemorative coins alongside the regular coins. Another type of proof set is the Presidential Dollar Proof Set where four special $1 coins are minted each year featuring a president. Because of budget constraints and increasing stockpiles of these relatively unpopular coins, the production of new Presidential dollar coins for circulation was suspended on December 13, 2011, by U.S. Treasury Secretary Timothy F. Geithner. Future minting of such coins will be made solely for collectors.[38]
- 2007 had George Washington, John Adams, Thomas Jefferson, and James Madison
- 2008 had James Monroe, John Quincy Adams, Andrew Jackson, and Martin Van Buren
- 2009 had William Henry Harrison, John Tyler, James K. Polk, and Zachary Taylor
- 2010 had Millard Fillmore, Franklin Pierce, James Buchanan, and Abraham Lincoln
- 2011 had Andrew Johnson, Ulysses S. Grant, Rutherford B. Hayes, and James A. Garfield
- 2012 had Chester Arthur, Grover Cleveland (1st term), Benjamin Harrison, and Grover Cleveland (2nd term)
- 2013 had William McKinley, Theodore Roosevelt, William Howard Taft and Woodrow Wilson
- 2014 had Warren G. Harding, Calvin Coolidge, Herbert Hoover, and Franklin D. Roosevelt
- 2015 had Harry S Truman, Dwight D. Eisenhower, John F. Kennedy, and Lyndon B. Johnson
- 2016 had Richard M. Nixon, Gerald R. Ford and Ronald Reagan.
Dollar coins
The first United States dollar was minted in 1794. Known as the Flowing Hair Dollar, it contained 416 grains of "standard silver" (89.25% silver and 10.75% copper), as specified by Section 13[39] of the Coinage Act of 1792. It was designated by Section 9 of that Act as having "the value of a Spanish milled dollar".
Dollar coins have not been very popular in the United States.[40] Silver dollars were minted intermittently from 1794 through 1935; a copper-nickel dollar of the same large size, featuring President Dwight D. Eisenhower, was minted from 1971 through 1978. Gold dollars were also minted in the 19th century. The Susan B. Anthony dollar coin was introduced in 1979; these proved to be unpopular because they were often mistaken for quarters, due to their nearly equal size, their milled edge, and their similar color. Minting of these dollars for circulation was suspended in 1980 (collectors' pieces were struck in 1981), but, as with all past U.S. coins, they remain legal tender. As the number of Anthony dollars held by the Federal Reserve and dispensed primarily to make change in postal and transit vending machines had been virtually exhausted, additional Anthony dollars were struck in 1999. In 2000, a new $1 coin, featuring Sacagawea, (the Sacagawea dollar) was introduced, which corrected some of the problems of the Anthony dollar by having a smooth edge and a gold color, without requiring changes to vending machines that accept the Anthony dollar. However, this new coin has failed to achieve the popularity of the still-existing $1 bill and is rarely used in daily transactions. The failure to simultaneously withdraw the dollar bill and weak publicity efforts have been cited by coin proponents as primary reasons for the failure of the dollar coin to gain popular support.[41]
In February 2007, the U.S. Mint, under the Presidential $1 Coin Act of 2005,[42] introduced a new $1 U.S. Presidential dollar coin. Based on the success of the "50 State Quarters" series, the new coin features a sequence of presidents in order of their inaugurations, starting with George Washington, on the obverse side. The reverse side features the Statue of Liberty. To allow for larger, more detailed portraits, the traditional inscriptions of "E Pluribus Unum", "In God We Trust", the year of minting or issuance, and the mint mark will be inscribed on the edge of the coin instead of the face. This feature, similar to the edge inscriptions seen on the British £1 coin, is not usually associated with U.S. coin designs. The inscription "Liberty" has been eliminated, with the Statue of Liberty serving as a sufficient replacement. In addition, due to the nature of U.S. coins, this will be the first time there will be circulating U.S. coins of different denominations with the same president featured on the obverse (heads) side (Lincoln/penny, Jefferson/nickel, Franklin D. Roosevelt/dime, Washington/quarter, Kennedy/half dollar, and Eisenhower/dollar). Another unusual fact about the new $1 coin is Grover Cleveland will have two coins with two different portraits issued due to the fact he was the only U.S. President to be elected to two non-consecutive terms.[43]
Early releases of the Washington coin included error coins shipped primarily from the Philadelphia mint to Florida and Tennessee banks. Highly sought after by collectors, and trading for as much as $850 each within a week of discovery, the error coins were identified by the absence of the edge impressions "E PLURIBUS UNUM IN GOD WE TRUST 2007 P". The mint of origin is generally accepted to be mostly Philadelphia, although identifying the source mint is impossible without opening a mint pack also containing marked units. Edge lettering is minted in both orientations with respect to "heads", some amateur collectors were initially duped into buying "upside down lettering error" coins.[44] Some cynics also erroneously point out that the Federal Reserve makes more profit from dollar bills than dollar coins because they wear out in a few years, whereas coins are more permanent. The fallacy of this argument arises because new notes printed to replace worn out notes, which have been withdrawn from circulation, bring in no net revenue to the government to offset the costs of printing new notes and destroying the old ones. As most vending machines are incapable of making change in banknotes, they commonly accept only $1 bills, though a few will give change in dollar coins.
Mint marks
Mint | Mint mark | Metal minted | Year established | Current status |
Denver | D | All metals | 1906 | Facility open |
Philadelphia | P; none[lower-alpha 1] | All metals | 1792 | Facility open |
San Francisco | S | All metals | 1854 | Facility open (proof only) |
West Point | W; none[lower-alpha 2] | Gold, Silver and Platinum | 1973 | Facility open (bullion only) |
Carson City | CC | Gold and Silver | 1870 | Facility closed, 1893[lower-alpha 3] |
Charlotte | C | Gold only | 1838 | Facility closed, 1861 |
Dahlonega | D[lower-alpha 4] | Gold only | 1838 | Facility closed, 1861 |
Manila[lower-alpha 5] | M; none[lower-alpha 6] | All metals | 1920 | Facility closed, 1922; open again, 1925–41 |
New Orleans | O | Gold and Silver | 1838 | Facility closed, 1861; open again 1879–1909[lower-alpha 7] |
- ↑ The letter "P" is used for the Philadelphia mint mark on all coins (except cents) released from 1980 onward. Before this it had been only used on silver Jefferson nickels from 1942 to 1945.
- ↑ Between 1973 and 1986 there was no mint mark (these coins are indistinguishable from coins produced at the Philadelphia Mint from 1973 to 1980); after 1988 the letter "W" was used for coinage, except for the 2009 Ultra High Relief Double Eagle.
- ↑ It is now the home of the Nevada State Museum, which still strikes commemorative medallions with the "CC" mint mark (most recently in 2014 commemorating the Nevada Sesquicentennial), using former mint's the original coin press.
- ↑ Although the mint mark "D" has been used by two separate mints, it is easy to distinguish between the two, as any 19th century coinage is Dahlonega, and any 20th or 21st century coins are Denver.
- ↑ During the period in which this mint branch was operational, The Philippines was an insular territory and then commonwealth of the U.S.; it was the first (and to date only) U.S. branch mint located outside the Continental United States.
- ↑ The letter "M" was used for the Manila mint mark on all coins released from 1925 onward; before this it had produced its coins without a mintmark.
- ↑ During the Civil War, this mint operated under the control of the State of Louisiana (February 1861) and the Confederate States of America (March 1861) until it ran out of bullion later in that year; some Half Dollars have been identified as being the issue of the State of Louisiana and the Confederacy.
Denomination | Obverse | Reverse | Portrait | Reverse Motif | First Series | Latest Series | Circulation |
One Dollar | George Washington | Great Seal of the United States | Series 1963 | Series 2013 | Wide | ||
Two Dollars | Thomas Jefferson | Trumbull's Declaration of Independence | Series 1976 | Series 2013 | Limited | ||
Five Dollars | Abraham Lincoln | Lincoln Memorial | Series 2006 | Series 2013 | Wide | ||
Ten Dollars | Alexander Hamilton | U.S. Treasury | Series 2004A | Series 2013 | Wide | ||
Twenty Dollars | Andrew Jackson | White House | Series 2004 | Series 2013 | Wide | ||
Fifty Dollars | Ulysses S. Grant | United States Capitol | Series 2004 | Series 2013 | Wide | ||
One Hundred Dollars | Benjamin Franklin | Independence Hall | Series 2009 | Series 2013 | Wide |
The U.S. Constitution provides that Congress shall have the power to "borrow money on the credit of the United States".[45] Congress has exercised that power by authorizing Federal Reserve Banks to issue Federal Reserve Notes. Those notes are "obligations of the United States" and "shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank".[46] Federal Reserve Notes are designated by law as "legal tender" for the payment of debts.[47] Congress has also authorized the issuance of more than 10 other types of banknotes, including the United States Note[48] and the Federal Reserve Bank Note. The Federal Reserve Note is the only type that remains in circulation since the 1970s.
Currently printed denominations are $1, $2, $5, $10, $20, $50, and $100. Notes above the $100 denomination stopped being printed in 1946 and were officially withdrawn from circulation in 1969. These notes were used primarily in inter-bank transactions or by organized crime; it was the latter usage that prompted President Richard Nixon to issue an executive order in 1969 halting their use. With the advent of electronic banking, they became less necessary. Notes in denominations of $500, $1,000, $5,000, $10,000 and $100,000 were all produced at one time; see large denomination bills in U.S. currency for details. These notes are now collectors' items and are worth more than their face value to collectors.
Though still predominantly green, post-2004 series incorporate other colors to better distinguish different denominations. As a result of a 2008 decision in an accessibility lawsuit filed by the American Council of the Blind, the Bureau of Engraving and Printing is planning to implement a raised tactile feature in the next redesign of each note, except the $1 and the new version of the $100 bill. It also plans larger, higher-contrast numerals, more color differences, and distribution of currency readers to assist the visually impaired during the transition period.[49]
Means of issue
The monetary base consists of coins and Federal Reserve Notes in circulation outside the Federal Reserve Banks and the U.S. Treasury, plus deposits held by depository institutions at Federal Reserve Banks. The adjusted monetary base has increased from approximately 400 billion dollars in 1994, to 800 billion in 2005, and over 3000 billion in 2013.[50] The amount of cash in circulation is increased (or decreased) by the actions of the Federal Reserve System. Eight times a year, the 12-person Federal Open Market Committee meet to determine U.S. monetary policy.[51] Every business day, the Federal Reserve System engages in Open market operations to carry out that monetary policy.[52] If the Federal Reserve desires to increase the money supply, it will buy securities (such as U.S. Treasury Bonds) anonymously from banks in exchange for dollars. Conversely, it will sell securities to the banks in exchange for dollars, to take dollars out of circulation.[53]
When the Federal Reserve makes a purchase, it credits the seller's reserve account (with the Federal Reserve). This money is not transferred from any existing funds—it is at this point that the Federal Reserve has created new high-powered money. Commercial banks can freely withdraw in cash any excess reserves from their reserve account at the Federal Reserve. To fulfill those requests, the Federal Reserve places an order for printed money from the U.S. Treasury Department.[54] The Treasury Department in turn sends these requests to the Bureau of Engraving and Printing (to print new dollar bills) and the Bureau of the Mint (to stamp the coins).
Usually, the short-term goal of open market operations is to achieve a specific short-term interest rate target. In other instances, monetary policy might instead entail the targeting of a specific exchange rate relative to some foreign currency or else relative to gold. For example, in the case of the United States the Federal Reserve targets the federal funds rate, the rate at which member banks lend to one another overnight. The other primary means of conducting monetary policy include: (i) Discount window lending (as lender of last resort); (ii) Fractional deposit lending (changes in the reserve requirement); (iii) Moral suasion (cajoling certain market players to achieve specified outcomes); (iv) "Open mouth operations" (talking monetary policy with the market).
The 6th paragraph of Section 8 of Article 1 of the U.S. Constitution provides that the U.S. Congress shall have the power to "coin money" and to "regulate the value" of domestic and foreign coins. Congress exercised those powers when it enacted the Coinage Act of 1792. That Act provided for the minting of the first U.S. dollar and it declared that the U.S. dollar shall have "the value of a Spanish milled dollar as the same is now current".[55]
The table to the right shows the equivalent amount of goods that, in a particular year, could be purchased with $1. The table shows that from 1774 through 2012 the U.S. dollar has lost about 97.0% of its buying power.[56]
The decline in the value of the U.S. dollar corresponds to price inflation, which is a rise in the general level of prices of goods and services in an economy over a period of time.[57] A consumer price index (CPI) is a measure estimating the average price of consumer goods and services purchased by households. The United States Consumer Price Index, published by the Bureau of Labor Statistics, is a measure estimating the average price of consumer goods and services in the United States.[58] It reflects inflation as experienced by consumers in their day-to-day living expenses.[59] A graph showing the U.S. CPI relative to 1982–1984 and the annual year-over-year change in CPI is shown at right.
The value of the U.S. dollar declined significantly during wartime, especially during the American Civil War, World War I, and World War II.[60] The Federal Reserve, which was established in 1913, was designed to furnish an "elastic" currency subject to "substantial changes of quantity over short periods", which differed significantly from previous forms of high-powered money such as gold, national bank notes, and silver coins.[61] Over the very long run, the prior gold standard kept prices stable—for instance, the price level and the value of the U.S. dollar in 1914 was not very different from the price level in the 1880s. The Federal Reserve initially succeeded in maintaining the value of the U.S. dollar and price stability, reversing the inflation caused by the First World War and stabilizing the value of the dollar during the 1920s, before presiding over a 30% deflation in U.S. prices in the 1930s.[62]
Under the Bretton Woods system established after World War II, the value of gold was fixed to $35 per ounce, and the value of the U.S. dollar was thus anchored to the value of gold. Rising government spending in the 1960s, however, led to doubts about the ability of the United States to maintain this convertibility, gold stocks dwindled as banks and international investors began to convert dollars to gold, and as a result the value of the dollar began to decline. Facing an emerging currency crisis and the imminent danger that the United States would no longer be able to redeem dollars for gold, gold convertibility was finally terminated in 1971 by President Nixon, resulting in the "Nixon shock".[63]
The value of the U.S. dollar was therefore no longer anchored to gold, and it fell upon the Federal Reserve to maintain the value of the U.S. currency. The Federal Reserve, however, continued to increase the money supply, resulting in stagflation and a rapidly declining value of the U.S. dollar in the 1970s. This was largely due to the prevailing economic view at the time that inflation and real economic growth were linked (the Phillips curve), and so inflation was regarded as relatively benign.[63] Between 1965 and 1981, the U.S. dollar lost two thirds of its value.[56]
In 1979, President Carter appointed Paul Volcker Chairman of the Federal Reserve. The Federal Reserve tightened the money supply and inflation was substantially lower in the 1980s, and hence the value of the U.S. dollar stabilized.[63]
Over the thirty-year period from 1981 to 2009, the U.S. dollar lost over half its value.[56] This is because the Federal Reserve has targeted not zero inflation, but a low, stable rate of inflation—between 1987 and 1997, the rate of inflation was approximately 3.5%, and between 1997 and 2007 it was approximately 2%. The so-called "Great Moderation" of economic conditions since the 1970s is credited to monetary policy targeting price stability.[64]
There is ongoing debate about whether central banks should target zero inflation (which would mean a constant value for the U.S. dollar over time) or low, stable inflation (which would mean a continuously but slowly declining value of the dollar over time, as is the case now). Although some economists are in favor of a zero inflation policy and therefore a constant value for the U.S. dollar,[62] others contend that such a policy limits the ability of the central bank to control interest rates and stimulate the economy when needed.[65]
Exchange rates
Historical exchange rates
19702 | 19802 | 19852 | 19902 | 1993 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015[66] | |
Euro | — | — | — | — | — | 0.9387 | 1.0832 | 1.1171 | 1.0578 | 0.8833 | 0.8040 | 0.8033 | 0.7960 | 0.7293 | 0.6791 | 0.7176 | 0.6739 | 0.7178 | 0.7777 | 0.7530 | 0.7520 | 0.9015 |
Japanese yen | 357.6 | 240.45 | 250.35 | 146.25 | 111.08 | 113.73 | 107.80 | 121.57 | 125.22 | 115.94 | 108.15 | 110.11 | 116.31 | 117.76 | 103.39 | 93.68 | 87.78 | 79.70 | 79.82 | 97.60 | 105.74 | 121.05 |
Pound sterling | 8s 4d =0.4167 | 0.4484[67] | 0.8613[67] | 0.6207 | 0.6660 | 0.6184 | 0.6598 | 0.6946 | 0.6656 | 0.6117 | 0.5456 | 0.5493 | 0.5425 | 0.4995 | 0.5392 | 0.6385 | 0.4548 | 0.6233 | 0.6308 | 0.6393 | 0.6066 | 0.6544 |
Canadian dollar | 1.081 | 1.168 | 1.321 | 1.1605 | 1.2902 | 1.4858 | 1.4855 | 1.5487 | 1.5704 | 1.4008 | 1.3017 | 1.2115 | 1.1340 | 1.0734 | 1.0660 | 1.1412 | 1.0298 | 0.9887 | 0.9995 | 1.0300 | 1.1043 | 1.2789 |
Mexican peso | 0.01250–0.026501 | 2.801 | 2.671 | 2.501 | 3.1237 | 9.553 | 9.459 | 9.337 | 9.663 | 10.793 | 11.290 | 10.894 | 10.906 | 10.928 | 11.143 | 13.498 | 12.623 | 12.427 | 13.154 | 12.758 | 13.302 | 15.837 |
Renminbi yuan | 2.46 | 1.7050 | 2.9366 | 4.7832 | 5.7620 | 8.2783 | 8.2784 | 8.2770 | 8.2771 | 8.2772 | 8.2768 | 8.1936 | 7.9723 | 7.6058 | 6.9477 | 6.8307 | 6.7696 | 6.4630 | 6.3093 | 6.1478 | 6.1620 | 6.2840 |
Indian rupee | 7.56 | 8.000 | 12.38 | 16.96 | 31.291 | 43.13 | 45.00 | 47.22 | 48.63 | 46.59 | 45.26 | 44.00 | 45.19 | 41.18 | 43.39 | 48.33 | 45.65 | 46.58 | 53.37 | 58.51 | 62.00 | 64.1332 |
Singapore dollar | — | — | 2.179 | 1.903 | 1.6158 | 1.6951 | 1.7361 | 1.7930 | 1.7908 | 1.7429 | 1.6902 | 1.6639 | 1.5882 | 1.5065 | 1.4140 | 1.4543 | 1.24586 | 1.2565 | 1.2492 | 1.2511 | 1.2665 | 1.3748 |
South African rand | 0.7182 | 0.7780 | 2.2343[68] | 2.5600 | 3.2729 | 6.1191 | 6.9468 | 8.6093 | 10.5176 | 7.5550 | 6.4402 | 6.3606 | 6.7668 | 7.0477 | 8.2480 | 8.4117 | 7.3159 | 7.2510 | 8.2014 | 9.6436 | 10.8420 | 12.7759 |
1. Mexican peso values prior to 1993 revaluation
2. Value at the start of the year
- US: Last 4 years, 2009–2012, 2005–2008, 2001–2004, 1997–2000, 1993–1996, all available years[69]
- Multiple countries: 2004–present
- Australia: 1970–present
- China: 1974–1991, 1993–1995
- Mexico: 1976–1991
- Canada: 1977-1991
Current exchange rates
Current USD exchange rates | |
From Google Finance: | AUD CAD CHF EUR GBP HKD JPY RUB INR CNY |
From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY RUB INR CNY |
From XE: | AUD CAD CHF EUR GBP HKD JPY RUB INR CNY |
From OANDA: | AUD CAD CHF EUR GBP HKD JPY RUB INR CNY |
From fxtop.com: | AUD CAD CHF EUR GBP HKD JPY RUB INR CNY |
See also
- Coins of the United States dollar
- Counterfeit United States currency
- Federal Reserve Note
- International use of the U.S. dollar
- Large denominations of United States currency
- Series (United States currency)
- Strong dollar policy
- U.S. Dollar Index
- ↑ Alongside East Timor centavo coins
- ↑ Alongside Ecuadorian centavo coins
- ↑ Alongside Panamanian balboa coins
- ↑ Official currency for Zimbabwean government transactions
- ↑ U.S. Dollar, Iranian rial, and Pakistani rupees are widely accepted.
- ↑ Bahamian dollar tied 1:1 to USD, both accepted interchangeably.
- ↑ Barbadian dollar tied at about 2:1, both accepted. Visiting Barbados FAQ: What is the local currency?, Invest Barbados
- ↑ Alongside the Cambodian riel
- ↑ Alongside the Costa Rican colón
- ↑ Iraqi dinar tied at about 2:1, both accepted.
- ↑ Alongside the Jamaican Dollar
- ↑ U.S. dollar is widely used alongside the Lebanese Pound at a fixed exchange rate of 1:1,500
- ↑ U.S. dollar is widely used alongside the Nicaraguan Córdoba
- ↑ U.S. dollar is widely used alongside the Nuevo Sol
- ↑ U.S. dollar is widely used alongside the Uruguayan Peso
- ↑ U.S. dollar is widely used alongside the Vietnamese Dong
- ↑ Alongside the Bermudian dollar
- ↑ Alongside the New Zealand dollar
- ↑ The U.S. Dollar is used on par with the Canadian Dollar.
- ↑ The U.S. Dollar and the Chinese Yuan are the only accepted currencies in most Pyongyang stores.
- ↑ The U.S. Dollar is widely used by locals.
- ↑ The U.S. Dollar is widely used by locals.
- ↑ nichol, Mark. "50 Slang Terms for Money". dailywritingtips.com. Retrieved May 31, 2016.
- ↑ "Central Bank of Timor-Leste". Retrieved May 22, 2013.
The official currency of Timor-Leste is the United States dollar, which is legal tender for all payments made in cash.
- ↑ "Ecuador". CIA World Factbook. October 18, 2010. Retrieved October 27, 2010.
The dollar is legal tender
- ↑ "El Salvador". CIA World Factbook. October 21, 2010. Retrieved October 27, 2001.
The US dollar became El Salvador's currency in 2001
- ↑ http://www.demtullpitcairn.com/2016JanFebMarch.pdf
- ↑ FCO country profile Archived June 10, 2010, at the Wayback Machine.
- ↑ "British Indian Ocean Territory Currency". Wwp.greenwichmeantime.com. March 6, 2013. Retrieved May 5, 2013.
- ↑ "The Implementation of Monetary Policy – The Federal Reserve in the International Sphere" (PDF). Retrieved August 24, 2010.
- ↑ Benjamin J. Cohen, The Future of Money, Princeton University Press, 2006, ISBN 0-691-11666-0; cf. "the dollar is the de facto currency in Cambodia", Charles Agar, Frommer's Vietnam, 2006, ISBN 0-471-79816-9, p. 17
- ↑ "Paragraph 5 of Section 8 of Article 1 of the Constitution of the United States of America". Topics.law.cornell.edu. Retrieved August 24, 2010.
- 1 2 3 "Section 5112 of Title 31 of the United States Code". Retrieved March 16, 2010.
- ↑ "Paragraph 7 of Section 9 of Article 1 of the Constitution of the United States of America". Topics.law.cornell.edu. Retrieved August 24, 2010.
- ↑ "Section 331 of Title 31 of the United States Code". Law.cornell.edu. August 6, 2010. Retrieved August 24, 2010.
- ↑ "2009 Financial Report of the United States Government" (PDF). Retrieved August 24, 2010.
- ↑ Mehl, B. Max. "United States $50.00 Gold Pieces, 1877", in Star Rare Coins Encyclopedia and Premium Catalogue (20th edition, 1921)
- 1 2 National Geographic. June 2002. p. 1. Ask US.
- ↑ "Dutch Colonial – Lion Dollar". Coins.lakdiva.org. Retrieved May 5, 2013.
- 1 2 "etymologiebank.nl". etymologiebank.nl. Retrieved May 5, 2013.
- ↑ Julian, R.W. (2007). "All About the Dollar". Numismatist: 41.
- ↑ "Buck". Online Etymology Dictionary. Retrieved November 10, 2011.
- ↑ "Paper Money Glossary". Littleton Coin Company. Retrieved November 7, 2011.
- ↑ Cajori, Florian ([1929]1993). A History of Mathematical Notations (Vol. 2). New York: Dover, 15–29. ISBN 0-486-67766-4
- ↑ Aiton, Arthur S. and Benjamin W. Wheeler (May 1931). "The First American Mint", The Hispanic American Historical Review 11 (2), 198 and note 2 on 198.
- ↑ Nussbaum, Arthur (1957). A History of the Dollar. New York: Columbia University Press. p. 56.
The dollar sign, $, is connected with the peso, contrary to popular belief, which considers it to be an abbreviation of 'U.S.' The two parallel lines represented one of the many abbreviations of 'P,' and the 'S' indicated the plural. The abbreviation '$.' was also used for the peso, and is still used in Argentina.
- ↑ "What is the origin of the $ Sign?", U.S. Bureau of Engraving and Printing website
- ↑ Rand, Ayn. Atlas Shrugged. 1957. Signet. 1992. p628
- ↑ James, James Alton (1970) [1937]. Oliver Pollock: The Life and Times of an Unknown Patriot. Freeport: Books for Libraries Press. p. 356. ISBN 978-0-8369-5527-9.
- ↑ "The Lion Dollar: Introduction". Coins.nd.edu. Retrieved August 24, 2010.
- ↑ Mint, U.S. "Coinage Act of 1792". U.S. treasury.
- ↑ "United States Dollar". OANDA. Retrieved December 19, 2013.
- ↑ "Engraving and printing currency and security documents:Article b". Legal Information Institute. Retrieved December 19, 2013.
- ↑ Matt Soniak (July 22, 2011). "On the Money: Everything You Ever Wanted to Know About Coin Portraits". Mental Floss. Retrieved December 19, 2013.
- ↑ Newman, Eric P. (1990). The Early Paper Money of America (3 ed.). Iola, Wisconsin: Krause Publications. p. 17. ISBN 0-87341-120-X.
- ↑ Wright, Robert E. (2008). One Nation Under Debt: Hamilton, Jefferson, and the History of What We Owe. New York, New York: McGraw-Hill. pp. 50–52. ISBN 978-0-07-154393-4.
- ↑ "IRS Court Case Shakes the Foundations of the Debt Money System". Beyondmoney.net. November 8, 2007. Retrieved August 24, 2010.
- ↑ Christian Zappone (July 18, 2006). "Kill-the-penny bill introduced". CNN Money. Retrieved February 13, 2016.
- ↑ Weinberg, Ali (February 19, 2013). "Penny pinching: Can Obama manage elimination of one-cent coin?". NBC News. Retrieved February 13, 2016.
- ↑ "The United States Mint Coins and Medals Program". Department of the Treasury. Retrieved August 1, 2012.
- ↑ "Section 13 of the Coinage Act of 1792". Memory.loc.gov. Retrieved August 24, 2010.
- ↑ CNN Money Congress tries again for a dollar coin. Written by Gordon T. Anderson. Published April 25, 2005.
- ↑ "Report to the Subcommittee on Treasury and General Government, Committee on Appropriations, U.S. Senate" (PDF). USGAO. Retrieved May 5, 2013.
- ↑ Pub. L. No. 109-145, 119 Stat. 2664 (December 22, 2005).
- ↑ The United States Mint. "The United States Mint Pressroom". Usmint.com. Retrieved August 24, 2010.
- ↑ Godless Dollars
- ↑ "Paragraph 2 of Section 8 of Article 1 of the United States Constitution". Topics.law.cornell.edu. Retrieved August 24, 2010.
- ↑ "Section 411 of Title 12 of the United States Code". Law.cornell.edu. June 22, 2010. Retrieved August 24, 2010.
- ↑ "Section 5103 of Title 31 of the United States Code". Law.cornell.edu. August 6, 2010. Retrieved August 24, 2010.
- ↑ "Section 5115 of Title 31 of the United States Code". Law.cornell.edu. August 6, 2010. Retrieved August 24, 2010.
- ↑ See Federal Reserve Note for details and references
- ↑ "St. Louis Adjusted Monetary Base". Federal Reserve Bank of St. Louis. Retrieved May 3, 2013.
- ↑ "The Federal Reserve's Beige Book". The Federal Reserve Bank of Minneapolis. Retrieved January 6, 2008.
- ↑ Davies, Phil. "Right on Target". Retrieved January 7, 2008.
Federal Reserve Bank of Minneapolis
- ↑ "Open Market Operations". Federal Reserve Bank of New York. Retrieved January 11, 2008.
Open market operations enable the Federal Reserve to affect the supply of reserve balances in the banking system.
- ↑ "Fact Sheets: Currency & Coins". United States Department of the Treasury. Retrieved January 22, 2008.
- ↑ "Section 9 of the Coinage Act of 1792". Memory.loc.gov. Retrieved August 24, 2010.
- 1 2 3 "Measuring Worth – Purchasing Power of Money in the United States from 1774 to 2010". Retrieved April 22, 2010.
- ↑ Olivier Blanchard (2000). Macroeconomics (2nd ed.), Englewood Cliffs, N.J: Prentice Hall, ISBN 0-13-013306-X
- ↑ "Consumer Price Index Frequently Asked Questions". Retrieved July 17, 2010.
- ↑ "Consumer Price Index Frequently Asked Questions". Retrieved July 17, 2010.
- ↑ Milton Friedman, Anna Jacobson Schwartz. A monetary history of the United States, 1867–1960. p. 546. ISBN 978-0691003542.
- ↑ Friedman 189–190
- 1 2 "Central Banking—Then and Now". Retrieved July 17, 2010.
- 1 2 3 "Controlling Inflation: A Historical Perspective" (PDF). Retrieved July 17, 2010.
- ↑ "Monetary Credibility, Inflation, and Economic Growth". Retrieved July 17, 2010.
- ↑ "U.S. Monetary Policy: The Fed's Goals". Retrieved July 17, 2010.
- ↑ Exchange rates from TransferMate
- 1 2 1970–1992. 1980 derived from AUD–USD=1.1055 and AUD–GBP=0.4957 at end of Dec 1979: 0.4957/1.1055=0.448394392; 1985 derived from AUD–USD=0.8278 and AUD–GBP=0.7130 at end of Dec 1984: 0.7130/0.8278=0.861319159
- ↑ "Exchange Rates Between the United States Dollar and the South African Rand". Measuring Worth. Retrieved December 5, 2011.
- ↑ "FRB: Foreign Exchange Rates – G.5A; Release Dates". Board of Governors of the Federal Reserve System. Retrieved July 23, 2014.
Further reading
- Prasad, Eswar S. (2014). The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance. Princeton, NJ: Princeton University Press. ISBN 978-0-691-16112-9.
External links
- U.S. Bureau of Engraving and Printing
- U.S. Currency and Coin Outstanding and in Circulation
- U.S. Currency Education Program page with images of all current banknotes
- American Currency Exhibit at the San Francisco Federal Reserve Bank
- Relative values of the U.S. dollar, from 1790 to 2006
- Historical Currency Converter
- Summary of BEP Production Statistics
- U.S. Currency tracking experiment
- 50 Factors that Affect the Value of the U.S. Dollar – Currency Trading.net
- Askar Akaev forecasts the collapse of U.S. dollar in December 2012
- Live exchange rates Currency exchange rates updated every 60 seconds


text:
When Louis dit Georges Montandon-Blaiselion was born in 1849, in France, his father, Claude Louis Montandon-Blaiselion, was 24 and his mother, Zoé Varlet, was 21. He had at least 1 daughter with Louise Faye. He died in 1927, in Paris, Île-de-France, France, at the age of 78.
name, of Germanic (Frankish) origin, from hlōd 'fame' + wīg 'war'. It was very common in French royal and noble families. Louis I ( 778–840 ) was the son of Charlemagne, who ruled as both King of France and Holy Roman Emperor. Altogether, the name was borne by sixteen kings of France up to the French Revolution, in which Louis XVI perished. Louis XIV, 'the Sun King' ( 1638–1715 ), reigned for seventy-two years ( 1643–1715 ), presiding in the middle part of his reign over a period of unparalleled French power and prosperity. In modern times Louis is also found in the English-speaking world (usually pronounced 'loo-ee'). In Britain the Anglicized form Lewis is rather more common, whereas in America the reverse is true.
As a nonprofit, we offer free help to those looking to learn the details of their family story.

subset: commoncrawl


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Bookish Beauty WDCC Belle Figurine - Signed By Paige O'Hara
WDCC Disney Classics Beauty And The Beast Belle Bookish Beauty From The Disney Movie Beauty and The Beast
Signed By the Voice of Belle - Paige O'Hara
Dimensions : 4 Inches
Includes the Original Classic Collections Green Box
WALT DISNEY CLASSICS FIGURINES - The Classics Collection started in 1992 with three scenes, Bambi, Cinderella, and Fantasia's Sorcerer Apprentice. Many other series have since been introduced. Some figurines are limited, and some have been retired. Some of these figurines have risen high on the secondary market. The figurines are made of porcelain, and the process is similar to that use to make Hummel figurines. Individual pieces are molded, put together, and fired in an oven. Then they are painted and fired again. Each figurine is marked on the bottom, signifying the year it was produced. The marks represent significant milestones in Disney history. The figurines with the first year mark are usually the most desirable.


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Educational Programs
Wesleyan students in many departments use the Davison Art Collection for class assignments or viewings as well as for individual research projects with University faculty. The DAC also encourages teaching and learning from objects in a wide range of other ways.
Students in Wesleyan classes can learn directly from closely mentored first-hand study of original objects, and some of these students organize gallery exhibitions drawn from the Davison Art Collection. This program of hands-on research and curatorial experience offers Wesleyan undergraduates opportunities found at few other institutions. By working closely and at length with the collection, students gain competence in locating, handling, and learning from original objects in museums. Wesleyan students also can gain practical experience with professional museum operations as DAC interns.
Alongside its primary mission of serving undergraduate pedagogy by means of its permanent collection, the DAC supports learning in other ways. The museum occasionally shows touring exhibitions related to other Wesleyan programs. Beyond its Wesleyan and Connecticut constituencies, the Davison Art Collection serves the international community of print scholars. Researchers from U.S. and European institutions come to study objects in the collection and to use the museum's Print Reference Library.


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Michigan commuter line begins test run
Written by Jenifer Nunez, assistant editorSix newly refurbished commuter rail cars are being tested in southeast Michigan, according to the Michigan Department of Transportation (MDOT) and the Southeast Michigan Council of Governments (SEMCOG).
The bi-level, stainless steel railcars have been refurbished and will be tested at normal operating speeds as they move from Pontiac to Jackson and back. The cars will eventually be used by the proposed Detroit-to-Ann Arbor and WALLY commuter rail services.
Because this is strictly a test of the equipment, the public is not invited to board this train. Amtrak will operate the test train using its locomotive, while Amtrak, Great Lakes Central Railroad, MDOT consultants and the Federal Railroad Administration conduct the testing. The cars were purchased from northeast Illinois commuter rail system Metra and have been refurbished by Great Lakes Central Railroad in Owosso, Mich.
Testing on the corridor between Pontiac and Jackson will begin Tuesday evening and continue early Wednesday morning. Trains will run at normal operating speeds of up to 79 mph.
At this time, funding for both commuter rail services is not yet programmed. SEMCOG is working on the Ann Arbor-to-Detroit service and the Ann Arbor Transportation Authority is working on the WALLY service between Washtenaw and Livingston counties. Following successful testing, the commuter rail cars could be used for special events.


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A couple of weeks ago I came across the concept of Korean BBQ and Mexican fusion in the form of the short rib tacos from the Kogi taco trucks in California. Combining the facts that I am really into both Korean and Mexican cuisine and that California is so far away I immediatly decided to try making the short rib tacos at home. Since there were no recipes available I set upon creating my own. I started with the kalbi or Koren barbecue short ribs which are short ribs that are marinated in a slightly sweet marinade until tender and then grilled until the sugars from the marinade caramelize infusing the ribs with an amazing flavour. Next up was the Koren style salsa roja which was responsible for bringing the heat to the tacos. I created the salsa roja by combining a chili de arbol salsa with some sesame flavours and a hit of gochujang, a Korean fermented chili paste. An onion and cilantro relish and some shredded romaine lettuce in a chili and sesame vinaigrette rounded out the tacos bringing some fresh ingredients to them. Now that I had all of the ingredients made all that was left was to assemble the tacos.
This project (Project Kogi: Short Rib Tacos) took a bit of effort. After coming up with the recipes, making everything took a bit of time. The next time that I make these tacos I will make the salsa roja two nights ahead of time, marinate the ribs the night before, and make the relish and lettuce with dressing the morning of the meal. This way the only thing left to do is to pull everything out of the fridge, grill the ribs, assemble the tacos and enjoy. Despite the effort it was well worth it! The short rib tacos were absolutely amazing! The sweet and tender kalbi worked really well as a taco meat. The Korean style salsa roja added the perfect heat to the tacos along worth a ton of flavour. Feel free to pile this salsa on as it is really good! Come on, you can take the heat. 🙂 Seriously I was eating this salsa by the spoonful. The onion and cilantro relish combined with the seasoned shredded romaine lettuce added a nice texture, juiciness and freshness to the tacos and finished them of perfectly. Overall the tacos were nice and light and full of flavour and I practically inhaled them.
Kogi also serves a bunch of other Korean/Mexican fusion dishes that sound really good. Stay tuned for more.
Korean Short Rib Tacos
- 12 small tortillas
- 1 1/2 pounds kalbi (Korean barbecue short ribs) (cut into small pieces)
- 1 cup Korean style salsa roja
- 1 cup onion and cilantro relish
- 2 cups shredded lettuce in a Korean sesame vinaigrette
- 6 tablespoons sesame seeds (toasted and crushed)
- Assemble tacos.


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Air China is one of the best business class airlines in the world. Air China operates cheap business class flights from USA to most of the top destinations across the world via its hub. Air China's business class flights to the world's leading cities including Beijing, Dubai, Manila, Bangkok, Singapore, Seoul, Abu Dhabi, Ho Chi Minh, London, Paris, Frankfurt, Doha, Sydney, New Delhi and Mumbai are known for spacious seating, quality food and multimedia entertainment on board. Passengers traveling in Air China's business travel cabins from the US to any of the popular destinations are taken care of with keen attention to their needs and choices. Also luxury amenity kits and various reading materials are available on Air China's business class flights. iEagle books Air China's cheap business class flight tickets from USA to Canada, Mexico, UAE, China, Qatar, Turkey, Philippines, Seoul, Thailand, Singapore, United Kingdom, Germany, India and other countries.
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Fake lawn is becoming increasingly popular and you can choose your perfect Artificial Grass Garden Playground Design in Attleton Green CB8 8 in the UK as a substitute for ordinary grass as it creates a natural feel without the messiness in poor weather conditions.
It is for this reason that the astroturf is perfect for kids play-areas in a variety of different locations. The astroturf can be installed in a number of locations as a surface for children's play-areas and this includes:
By installing a fake grass playground surface in your garden you can ensure that the flooring will be suitable for use most of the year even in poor weather conditions. The artificial turf system is porous meaning that during rain fall the fake grass and sub base allows the drainage of water making it both permeable and SuDS compliant. The manmade turf specification can additionally be designed and used for recreational golf greens in Attleton Green for domestic gardens, schools and other locations. This is a perfect surface for play-areas in gardens as it prevents muddy conditions in wet weather saving work for parents and guardians all over the country. Learn more here - http://artificialgrass-syntheticturf.co.uk/other/practice-golf-putting-green/suffolk/attleton-green/ to find out everything you need to know or speak to our experts today.
Before purchasing artificial lawn from a supplier within the UK, you must first ensure that all the specialist requirement are met before a purchase and installation takes place. As well as considering how much the astroturf will cost, it is vital to check that both the supplier and installer is experienced within this field and have all the recommended certificated and accreditations for supplying and installing synthetic astroturf surfacing for children's play-areas. This is the case whether the astroturf surface is for recreational or leisure purposes.
Artificial grass is great for nearby children's play areas and nurseries http://artificialgrass-syntheticturf.co.uk/other/play-areas-for-nurseries/suffolk/attleton-green/ closest to you. If there is play equipment within the children's play area, we would recommend having a shockpad installed prior to the installation of the manmade turf. Shockpads may be installed in various depths to stop the children becoming injured in the event they fall off play equipment. A shockpad will make the synthetic grass a lot safer due to the impact absorbing properties. Another reaason why synthetic turf is good for kid's playgrounds is because of it's impact absorbing properties. Since the local surface is fully porous and SuDS compliant, water can drain through the surfacing meaning that the surrounding area will not become flooded or waterlogged. The playground can also be used in all weather conditions, as the synthetic surface will not become muddy in wet weather.
Fake lawn may be installed to suit a wide range of different designs and specifications. The installation of astroturf in play-areas across the UK can also be installed around play equipment such as slides, swings and see-saws with an insitu rubber shock pad meeting the critical fall height (CFH) required. When fake grass is being used in kids' playgrounds, it is always recommended that a shockpad is installed in order to keep children safe from injury allowing parents the peace of mind.
Many homeowners are choosing to use this type of synthetic lawn for installing miniature putting greens in Attleton Green CB8 8 for practise in the garden and recreational use. We can supply and install specialist surfacing http://artificialgrass-syntheticturf.co.uk/other/practice-golf-putting-green/suffolk/attleton-green/ which is ideal for practise games of golf with kids.
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For more details regarding the installation process of synthetic turf, please do not hesitate to get in contact with one of our team members. Once we receive your enquiry, which may be sent to us using the enquiry form, we will get back to you with answer to any questions or queries which you may have. We can complete the entire installation process from groundworks to laying the final surface; we can also offer details on maintenance to help you keep your facility in the best possible condition.
For more advice regarding Artificial Grass Garden Playground Design in Attleton Green CB8 8 and the fake garden lawn installation costs and the prices of different specifications, please fill out the contact form today and we will be in touch with some professional advice on this matter.


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After the pistachio crusted rack of lamb I was thinking about lamb even more. My thoughts naturally came the the Moroccan lamb tagine that I made and enjoyed so much last year. This lamb tagine uses a wonderful blend of Moroccan spices to season the meat before it is braised until it is nice and fall apart tender. Near the end of the cooking some dried fruits and honey are added for a bit of sweetness and some harissa is added for some chili heat. The combination of the flavourful slow braised lamb with the spices and the sweet dried fruit and the warmth is simply amazing and I was salivating at the thought of making it again this year. This time I changed things up just a little. The last time that I made this I used various dried fruits and I chopped them up so that they melted into the sauce. This year I decided to focus on apricots and I left them whole to add a nice change in texture and bursts of apricot flavour to the stew. I also decided to drop the carrots in favour of having the vegetables on the side.
This years apricot lamb tagine easily lived up to my memories of last years and I was thoroughly satisfied! The lamb was perfectly fall apart tender and oh so tasty. All of the flavours in the pot had plenty of time to mingle and get to know each other over the hours of simmering and the lamb was infused with the wonderful results. Despite the strong flavours in the sauce the taste of the lamb still came through and it really works well in this dish. Of course I served the lamb tagine on a bed of light and fluffy whole wheat couscous and I garnished it with some chopped cilantro and pistachios.
I hope everyone has a great Easter!
Apricot Lamb Tagine
- 2 teaspoons paprika
- 1 teaspoon ground turmeric
- 1 teaspoon ground cumin
- 1 teaspoon ground coriander
- 1 teaspoon ground cinnamon
- 1/4 teaspoon ground cardamom
- 1 teaspoon salt
- 1/2 teaspoon cayenne pepper
- 1 pinch saffron
- 1 teaspoon lemon (zest)
- 1 tablespoon oil
- 1 pound lamb (cut into bite sized pieces)
- 1 tablespoon oil
- 1 onion (chopped)
- 1 tablespoon garlic (grated)
- 1 tablespoon ginger (grated)
- 2 tablespoons tomato paste (I used chopped sun dried tomatoes)
- 1-2 cups beef stock
- 3/4 cup dried apricots
- 1/2 cup raisins
- 1 tablespoon honey
- 2 tablespoons harissa
- 1/4 cup pistachios (chopped, optional)
- 1/4 cup cilantro (chopped, optional)
- 1/4 cup parsley (chopped, optional)
- 1 cup Greek style yogurt (optional)
- Mix the paprika, turmeric, cumin, coriander, cinnamon, cardamom, salt, cayenne pepper, saffron, lemon zest and oil in a ziplock bag along with the lamb, mix well and marinate the fridge for a few hours to overnight.
- Heat the oil in a large pan over medium-hight heat add the lamb, brown well on all sides and set aside.
- Add the onion and saute until tender, about 5 minutes.
- Add the garlic and ginger and saute for about a minute.
- Add the lamb and tomato paste and beef stock, bring to a boil, reduce the meat and simmer covered until the lamb is fall apart tender, about 2-3 hours.
- Add the apricots, raisins and more beef stock to cover.
- Bring to a boil, reduce the heat and simmer for about 20 minutes.
- Add the honey and harissa.
- Serve on couscous and garnished with pistachios, cilantro, parsley and Greek yogurt.
Slow Cooker: Implement step 1, optionally implement steps 2-4, place everything except the garnishes in the slow cooker and cook on low for 6-10 hours or high for 2-4 hours.
Moroccan Lamb Tagine
7 Chili Chili
Beef Rendang
Moroccan Chicken Tagine with Olives and Preserved Lemons
Artichoke and Fava Bean Tagine
Moroccan Nectarine and Plum Chicken Tagine
Braised Short Rib Ragu
Ossobuco Tagine
Pumpkin and Chicken Tagine
Jamaican Style Jerk Beef Stew
Beef and Barley Soup
Cuban Picadillo
Carne Guisada (Braised Beef)
Lamb Madras


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The PKP connection between Legionowo and Włoszczowa Północ is operated by TLK. The first direct train departs at 08:52 from Legionowo station. The last train to Włoszczowa Północ leaves at 21:44. The fastest train without transfers is MAŁOPOLSKA. The journey on this train takes 02:04. Other trains operate on the Legionowo – Włoszczowa Północ route: IC Intercity - offer a lower ticket price and usually a longer journey time. The train finishes at Włoszczowa Północ.
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Learn about the music production process—including recording, editing, and mixing—and the tools available to you to create contemporary music on your computer.
With the recent introduction of high-quality-low-cost software and hardware, the tools of music production are now available to the masses. Albums are made in bedrooms as well as studios. On the surface this is liberating. Anyone can make an album for the low cost of a couple pieces of gear and a software package. But, if you dig deeper, you will find that it is not so easy. Producing music requires knowledge, dedication, and creativity. Knowledge is where this course comes in. No matter what kind of music you are making, there is a large set of tools that you will need to use. Each lesson of this course will demonstrate a different set of music production tools, loosely following along the music production process of recording, editing, and mixing. We will start with some background on the nature of sound and how we perceive it. We will then examine the components necessary to record audio into a computer, so that you understand the devices that sound must travel through in a music production process. Once recorded, sound must be organized along a timeline, a process known as editing. It allows us to give the impression of perfect performances and create many of the sounds we hear in contemporary music. The contemporary editing tool is the Digital Audio Workstation (DAW), a piece of software that stores and organizes all the assets of a musical project. We will focus on the editing tools that are essential in contemporary music production and that all DAWs provide. After editing, sounds must be combined or mixed together, so we look to the mixing board—a very creative place if you know how to use it. We will explore the basic functionality of both hardware and software mixing boards, including volume, pan, mute, solo, busses, inserts, sends, and submixes. The mixing process, however, includes more tools than the mixing board provides on its own. Sound must also be processed, modified from its recorded state to fit the context of the music. We will look at compression, equalization, and delay, and examine the many audio effects that are offshoots of these devices and how they are used in a musical context. In the end, the music production process relies on your creativity. Creativity is a product of the mind and will stay there, unexpressed, until the right tools are used in the right way to share it with the world. If you have an idea in your head, it will take numerous steps, each with an important tool, to reach your audience. You bring the dedication and creativity, and this course will bring you the knowledge to make that happen.


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Hiroki Kuroda (1-0, 1.20) vs. Aaron Harang (0-2, 7.88).
COMMENTS: Yesterday's game was so emotionally draining, I can't tell WTF is going on in Cincinnati. We take a three-run lead. We go down 9-3. We awaken from somnambulating and tie it at 9. Then in the same frickin' frame, we take our eyes off the ball again and lose 11-9. WTF, 3.0 IP / 7 R Chad Billingsley? WTF, 0-for-4 / 5 LOB James Loney? WTF, Dodgers?
I'm counting on Kuroda to even this series up. I'm confident the bats will be there today. I hope the arms can hold up, as well.


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Brian Nichols wanted to start a race war, against a racist Atlanta police and justice system |
Just see what Eric "My People" Holder had to say on the situation of the Justice Department deciding to side against white people.
With what Omar Thornton did at his former place of employment, it should be noted that 88 percent of Black people believe they have experienced discrimination at the work place.
A regrettable number of Black people are shooting police officers. In Miami and New Orleans, a regrettable number of Black people have been shot by Black people because these people break the law.
Black people believe the police, the Justice Department and Justice system are aligned against them. In reality, the opposite is at play. Just look at what Seattle is doing in the name of "social justice":
City Attorney Pete Holmes defends the city's progressive policies. For example, driving with a suspended license is almost always charged when a person's license has been suspended for failure to pay a fine, Fox News reports. But Holmes says 44 percent of those prosecuted for the crime were African American. According to Holmes, the disproportionate number of blacks being charged is a direct result of economic inequalities.
Racial minorities are more likely to be poor than whites and unable to pay their fines, Holmes says, adding that it's a waste of city resources to prosecute those cases. "If we start to learn and understand that one of those institutional causes of racism is actually in the criminal justice system," Holmes says, "it's our obligation as prosecutors to address it."
The Justice Department is making every attempt to excuse away Black crime. Black people are placing the justification for high levels of Black crime on a racist criminal justice system, instead of realizing high levels of Black crime are responsible for police increasing their presence in Black areas.
It's time people realize that the majority of Black people will always believe police and the criminal justice system operate straight out of a 1960s Bull Connor play book. Thus the reason Brian Nichols, a Black criminal who killed a judge, court reporter, Federal agent and a Sheriff's Deputy in Atlanta back in 2005 decided to wage a racial war in the name of perpetually oppressed Black people:
The Atlanta courthouse gunman said in letters that he escaped from guards and then killed four people in a shooting rampage to fight back against what he believed was a racist justice system, according to documents obtained by The Associated Press.
In the letters, which were among thousands of Georgia Bureau of Investigation documents reviewed exclusively by the AP, Brian Nichols lays out his motive for the March 2005 slayings in stark racial terms.
"Certain dogs you can kick and they tuck their tail between their legs and run," he wrote in a July 2005 letter to a man who criticized him. "Others if kicked will turn and bite the individual responsible. I hate to say it, but it's the truth that black men have done way too much tail tuckin."
While awaiting trial on rape charges, Nichols overpowered a guard at the Fulton County Courthouse and fatally shot a judge, court reporter, deputy and federal agent. He was sentenced to life in prison without parole in December 2008.
Trudy Brandau, the sister of slain court reporter Julie Ann Brandau, said the letters show Nichols is delusional.
"If you want changes made, make smart, intelligent choices that would actually wind up causing improvement," she said. "What he wound up doing was extremely selfish and hasn't changed a thing for anybody."
Nichols said he was infuriated that the judge, Rowland Barnes, was holding him without bond on rape charges while other inmates awaiting trial were set free.
He compared himself to Dany Heatley, a former AtlantaThrashers star, whom Barnes allowed to remain free on bail after he was charged with vehicular homicide in a 2003 crash that killed a teammate.
"White boy, driving crazy killed somebody. Was he not a threat to the community having killed a person as a result of his reckless behavior?" he wrote.
He said "no black man has ever made a stand such as mine" and insisted the shootings sent a message.
"Perhaps my children of another generation won't find their back against the wall, subjected to unequal treatment under the law. Unfortunately, my sacrifice is not enough to prevent that from happening, but perhaps it's a start."
The gunman also described a perverse legal strategy. Writing to his prison pen-pal girlfriend Lisa Meneguzzo, Nichols said he was going on a letter-writing campaign to try to influence the jury pool and avoid a guilty verdict.
"And believe me, in Fulton County, where there are a large number of people pissed off at the way the criminal justice system treats people, it can happen," he wrote. "All I need is the right people on the jury, and I go home. I've got to put in the grass-roots effort it takes to pull something like that off."Remember that Black people are mad that seven criminal Black people have been gunned down in Miami, demanding that the police chief resign for this obvious indicator of racism. Brian Nichols saw himself as a Black Avenging Angel of Death (BAAD), which is how any cop-killing Black person will now be viewed.
Because Black people believe the justice system of the past -- and by extension the police perpetuate racist policies -- never left.
The media made Omar Thornton's victims the antagonists in that story of mass murder spawned by the white people's racism.
Nichols saw himself as a BAAD; a Black guy waging war against a system created to keep Black people perpetually down. In reality, the justice system in America is just another extension of Black Run America (BRA), operating to help Black people who by their own actions keep themselves perpetually down.
The Justice Department, criminal justice system and police departments across the country no longer represent Bull Connor America. Ever since Rodney King, a slow evolution to the Justice Department of Eric "My People" Holder has occurred.
Nichols attempted to galvanize fellow Black people to wage war against a system that does everything possible to excuse away poor Black behavior. That's all modern America has become: a nation that excuses away horrible Black behavior as a response to lingering vestiges of white racism.
Brian Nichols tried to start a war against a system that does everything possible to keep the root cause of Black behavior censored. That system is Black Run America; that root cause is Black people themselves.


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Nissan is a Japanese automaker that offers vehicles ranging from compact cars to
large SUVs and crossovers, and is brand sibling to Infiniti, a luxury-level brand.
Nissan combines wild styling, entry-level luxury and cutting-edge technology at an
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There will come a time when your Nissan vehicle, new or used, will need to have
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electronics, depending on the model and year of the vehicle.
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Honest hard working group! Thought I needed a brake job but just needed cleaning and adjustment on rear drum brakes. Easy to work with!


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While I was going through my freezer I came across a bunch of shredded cooked chicken which was quite fortuitous as I had recently been thinking of a chicken pot pie that I remembered eating at my grandmothers house when I was a kid. With such perfect timing I thought that I would just have to try making a chicken pot pie. A chicken pot pie is pretty simple savoury pie containing chicken, vegetables, and a creamy sauce. You can make the pie with a top and bottom crust or just the top crust or you can even use biscuits to form a crust. Since I wanted to work on my pie crust skills I decided to go with the full pie crust. For the filling, I wanted a lot of vegetables and some thyme and on a last minute whim I decided to throw in some miso for some extra flavour. I was a bit worried as I have not had much luck with pie crusts, but the chicken pot pie turned out surprisingly well. The crust was my best so far, though I still need to work on my crimping skills. It was nice and light and flaky and crispy and golden brown and buttery and good! The filling was really tasty and the miso worked well in it. I am a bit surprised that something so simple can be so good. This is comfort food at its best!
Chicken Pot Pie
- 2 tablespoons butter
- 1 onion (chopped)
- 2 stalks celery (chopped)
- 1 carrot (chopped)
- 1/2 cup all-purpose flour
- 1 1/2 cups chicken stock
- 1 cup milk
- 1 pound cooked chicken (shredded or cut into bite sized pieces)
- 1 teaspoon thyme (chopped)
- 1/4 cup dry sherry
- 1 cup peas (I used frozen)
- 1 cup corn (I used frozen)
- 2 tablespoons miso (optional)
- salt and pepper to taste
- 2 pie crusts butter or biscuit
- 1 egg white
- 1 tablespoon water
- Melt the butter in a large pan.
- Add the onions, celery, and carrots and cook until tender, about 10-15 minutes.
- Mix in the flour and let it cook for a minute.
- Mix in the chicken stock followed by the milk.
- Reduce the heat and simmer for 10 minutes.
- Add the chicken, thyme, sherry, peas, corn and
- Mix the miso paste into some warm water and mix it into the sauce.
- Season with salt and pepper.
- Pour the filling into a pie dish with the bottom layer.
- Place the pie dough over the pie plate and fold any excess under itself.
- Seal the top and bottom crusts.
- Cut 3 1 inch slits on the top.
- Mix the egg white and the water and brush it on the pie crust.
- Place the pie onto a baking sheet and bake in a preheated 400F/200C oven until the crust is golden brown, about 25 minutes.