notoriousxmr on Nostr: “Under the new law the money is issued to the banks in return for Government ...

“Under the new law the money is issued to the banks in return for Government obligations, bills of exchange, drafts, notes, trade acceptances, and bankers acceptances. The money will be worth 100 cents on the dollar, because it is backed by the credit of the nation. It will represent a mortgage on all the homes and other property of all the people in the nation.”

- Senate Document No. 43, 73rd Congress, 1st Session

#Quotestr #Fiat #Credit