Why the buck stops here . . .
QUESTION Why is oil traded exclusively in U.S. dollars instead of the currency of the country buying or selling it?
ThE dollar is the world’s reserve currency used in international trade and is held by central banks.
This dates back to the UN Monetary and Financial Conference at Bretton Woods, New hampshire, in the U.S. in 1944. Delegates from 44 countries met from July 1 to 22 to create an international monetary system.
They wanted to ensure a foreign exchange rate system, prevent competitive devaluations and promote growth.
The Bretton Woods agreement saw the creation of the World Bank and established the gold-backed U.S. dollar as the world’s reserve currency.
At one time, the U.S’s GDP represented half of the world’s output, so the dollar was adopted as the world’s strongest and most stable global currency.
Gold and oil were traded in the reserve currency, ensuring price stability and simplifying transactions.
By the early Seventies, countries began demanding gold for the dollars they held to combat inflation.
Rather than allow Fort Knox to be depleted of its reserves, President Nixon decoupled the dollar from gold. however, by that time, the dollar had secured its place as the world’s reserve currency.
John Holland, Dorchester, Dorset.
QUESTION Is the word arch, meaning to be playful or mischievous, related to the architectural feature?
ARCh, as in a curved, symmetrical structure spanning an opening and supporting the weight of a bridge, roof or wall, came into English via the French
arche and Latin arcus, meaning ‘bow’. Arch meaning ‘chief’ or ‘principal’ is derived from the Greek arkhos meaning ‘chief’, thus archangel and archbishop.
The prefix began to be used in a derogatory manner (such as arch-rogue) so that by the middle of the 17th century it had acquired its meaning of ‘ roguish’ or ‘mischievous’.
Mrs Marianne Bright, Lincoln. ThE Sun does not go up and down! It’s the rotation of the Earth on its axis that makes it appear to rise in the east, travel across the sky and set in the west.
Tides do rise and fall — it’s the slope of the beaches that makes them appear to come in and go out. If you are on an oil rig out at sea with supporting legs, the rise and fall of the tides is obvious.
Wrought iron gates are now made of mild steel that has been welded or cast to replicate smooth flowing joints.
Wrought iron was welded by heating and hammering it together. This does not work with mild steel. The manufacture of wrought iron ceased in the Seventies because it is more expensive than steel and is difficult to obtain a consistent quality.
The first windmills were aptly named because they were wind-powered mills for grinding cereals.
however, the name stuck for windpowered pumps for raising water and wind-powered saws for cutting wood
Wind turbines are wind- powered alternators used to generate electricity. Presumably the name was chosen because manufacturers thought windmill sounded old-fashioned.
In winter, we are warned about the perils of skidding on black ice because it can’t be seen. In fact, it isn’t black, it’s clear — you can see the black road surface through the transparent ice.
‘White ice’, usually compacted snow, is just as slippery, but can be easily seen so is less dangerous.
Denis Sharp, Hailsham, E. Sussex. WE SAy the cold comes in. This is incorrect. The heat moves from a higher state to a lower state. So, we should be saying that the heat is going rather than that cold is coming. Losing heat means you will become cold.
There is no such thing as the dark side of the Moon. It is in synchronous rotation in its orbit around the Earth. As a result, the hemisphere that is not visible from the Earth is described as the dark side. The Sun shines on that part as well, but we can’t see it from the Earth.
Shooting stars are not stars, but small dust particles or rock pieces that burn up in the Earth’s atmosphere and leave a trail of light.
When I say my weight is 53 kg, it is not the weight, but the mass (the amount of matter in my body). The weight is measured in newtons.
A mass of 1 kg will exert 9.8 newtons on the surface of the Earth. So, my mass won’t change whether I am on the Earth or on the Moon. But my weight on the Moon will be one-sixth of the weight on the Earth. Dr Anand Deshpande, Westhoughton, Lancs. ThE word quantum is sometimes used to express a great change or development. This is far from the truth.
The smallest possible measured amount of energy an electron may absorb or emit when changing state is a quantum.
The title of the James Bond film Quantum Of Solace is based on a quote from Ian Fleming’s short story on which it is based: ‘When the Quantum of Solace drops to zero, humanity and consideration of one human for another is gone.’
Don Trower, Braintree, Essex.
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