Erdos on Nostr: The U.S. Dollar đź’µ has faced demise far more than realized: 1. Continental Dollar ...
The U.S. Dollar đź’µ has faced demise far more than realized:
1. Continental Dollar (1775-1779) Hyper-inflated to pay for Revolutionary War; hence the term “Not Worth a Continental” by 1781 losing 99% of its value.
2. Small Treasury Notes (1815) used to pay for War of 1812
3. Demand Notes (1861) colloquially known as GREENBACKS to pay for the Civil War which immediately lost its value relative to gold and could no longer be redeemed in gold.
4. Federal Reserve Act 1913 desperately needed to create money from bonds through private banks.
5. United States Notes, Legal Tender Notes (1863-1971) Nixon abandoned the gold redeemable (i.e. bankruptcy).
6. Petrodollar replaced by CBDC (XXXX)
7. CBDC supplanted by â‚żitcoin dominance (XXXX)
1. Continental Dollar (1775-1779) Hyper-inflated to pay for Revolutionary War; hence the term “Not Worth a Continental” by 1781 losing 99% of its value.
2. Small Treasury Notes (1815) used to pay for War of 1812
3. Demand Notes (1861) colloquially known as GREENBACKS to pay for the Civil War which immediately lost its value relative to gold and could no longer be redeemed in gold.
4. Federal Reserve Act 1913 desperately needed to create money from bonds through private banks.
5. United States Notes, Legal Tender Notes (1863-1971) Nixon abandoned the gold redeemable (i.e. bankruptcy).
6. Petrodollar replaced by CBDC (XXXX)
7. CBDC supplanted by â‚żitcoin dominance (XXXX)