Micael on Nostr: Whats a Federal Reserve Note? A worthless promissory notes Why people called them ...
Whats a Federal Reserve Note? A worthless promissory notes
Why people called them dollars? Because they have been lied. A real dollar is not paper currency, but hard money: a fixed weight of gold and silver. This is where the word “peso” comes from, peso is the Spanish word for weight.
According to the coinage act of 1792 a US dollar is 24.8 grains of gold, or 371.25 grains of silver.
Today you’ll need $166,72 Federal Reserve Notes to buy a real gold dollar. This is the equivalent of a 99,994% lost in the purchasing power of a FRN agains a real gold dollar according to the actual price of $3227 FRNs for one troy ounce.
Published at
2025-04-15 18:30:51Event JSON
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