For several decades the U.S. dollar has been the primary in
ternational currency in which the great majority of international
dealings are transacted. The reason for this pleasant develop
ment is found in the ignominious decline of the British pound,
which used to be the world's most trusted currency. Before World
War I, gold had been the universal money of man around the globe.
It was natural money which governments could not manage, create,
and depreciate. Because of its "rigidity"...