Tech Storror

South Asian island country Sri Lanka is going through an extreme economic crisis. Since independence in 1948, Sri Lanka has never been in such a dire situation. One of the main reasons is that the country is burdened with foreign debt. The situation is so dire that Sri Lanka does not even have foreign currency to import daily necessities. That's why the price of goods in the country has skyrocketed. Due to the severe shortage of fuel, thousands of people are crowding in line to collect oil. Army has been deployed in Sri Lanka's petrol pumps to handle the situation. There is no money to import paper. So school exams have also been cancelled. Sri Lanka has undertaken several mega projects in the last fifteen years. Among these are seaports, airports, road construction and other types of projects. Domestic and foreign experts say most of these projects are unnecessary. Sri Lanka has taken huge loans from various sources to implement these projects. Although money was spent on loan

   The most powerful currency in the world today is the US dollar. The US dollar is used as the main reserve currency around the world. About ninety percent of the world's total economic transactions are done through the US dollar. The US dollar is almost essential for international trade. There is no alternative or equivalent to the American dollar. It will be discussed about how the power of the US dollar was created in the world economic system?   Currency can generally be divided into three categories. Commodity currency, representative currency and fiat currency. Commodity currency is money that has no intrinsic value. Like gold or silver has its own value. Gold and silver were used as direct medium of exchange since ancient times. Even if the gold coin or silver coin is melted, its value does not decrease. That is why gold coins or silver coins are commodity money. Gold, silver, copper or tobacco leaves have been used as commodity currencies for economic transactions througho