[Thermodyne]

In the Colonial days of America, the Pound was the official currency. But the Spanish Dollar was more popular and very much in circulation. Then when we gave the boot to the King, we of course adopted the Dollar, only we didn’t break it down by 8 as the Spaniards did. Hence the common name of “Pieces of Eight”. Back then money was supported by the value of precious metal, Gold in America and Silver in England. Today it is supported by economic strength and exchange rate. Given the strength of the American economy, and the ability of the Federal Reserve to influence exchange rates, the American Dollar has become the universal currency. A point of note would be that three countries print American Dollars. America and Liberia do it legally and Iran does it on the sly. The Iranian $100 bill is considered an exact
copy.