Iran no longer using US dollar in foreign trade

Did you know that Iran no longer uses the US dollar in foreign trade transactions? They aren't alone. Russia, China, India and Turkey often pay for products in gold or other agreed on currencies. Read more here.

How much is a dollar worth?

How much is a dollar worth, compared to previous years?

we effectively came off the Gold Standard in 1934, and all semblance of precious metals backing our money was dissolved in August of 1971 when Richard Nixon made it official. Tricky Dick said that, going forward, the dollar would only be backed by the full faith and credit of the US government.

That faith has not served us well. A dollar from 1971 is now worth 19 cents. When compared to the dollar from 1934, it's worth 4 cents.

Read more here.