2 responses to “Paper Money Introduced in the United States”

  1. tommylee

    I guess buying loads of paper at the papermill will have at some point more value than loads of paper dollars. Interesting thought on an interesting article. Scary part is that the dollar is not interchangeable for gold.

  2. publisher_sa

    Well a percentage of paper money (actually it's more linen than paper) has always been backed by gold until the Nixon Shock in August of 1971 put an end to the convertibility option of the US dollar against gold. As a graduate student in economics in those days I remember our professor claim: 'another war needs to be financed'.
    And this exactly the reason why gold even at $1,106 per troy ounce today is far undervalued.

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